Question 1

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

Accepted Answer

A)  Corporate 
B)  Business-unit 
C)  Marketing 
D)  Mission statement 
E)  Marketing mix

Question 2

A firm's organizational goals should be derived from its opportunities.

Accepted Answer

A) True 
 B)False

Question 3

Scenario 2.1 Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights.
Refer to Scenario 2.1. In Southwest Airlines' SWOT analysis, the rising gas prices are a(n) ____, while the fact that other airlines are charging for all checked baggage may create a(n) ____.

Accepted Answer

A)  threat; strength 
B)  weakness; strength 
C)  threat; opportunity 
D)  weakness; opportunity 
E)  opportunity; strength

Question 4

Wilson Siding and Window Company is a closely held family-owned company that sells exterior siding and windows to businesses and consumers. The business-to-business market is designed to serve a variety of businesses by replacing wood siding with vinyl siding. In addition, they can customize windows to match any size that a business or household consumer might desire. Wilson Siding and Window employs approximately 35 individuals who report directly to the company president and owner, Max Wilson. Max learned about managing and leading the company from his father, who was a strict but friendly man. Max has developed a reputation as a shrewd business person who believes that his way is the right way. He sets all company policies, standards, and expects all employees to follow the rules and standards he has implemented. Employees enjoy the work environment at Wilson Siding and Window Company but are sometimes frustrated because they're not able to quickly respond to customer requests or changes in their needs and are not empowered to make decisions. It's likely that Wilson Siding and Window Company has implemented a ____________ organizational structure.

Accepted Answer

A)  centralized 
B)  decentralized 
C)  controlled 
D)  paternal

Question 5

Scenario 2.2 Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
Refer to Scenario 2.2. The college-aged student represents EXperience Limited's ____, and the tours its operates represent the ____ element of the marketing mix.

Accepted Answer

A)  target market; distribution 
B)  customer relationships; distribution 
C)  cash cow; product 
D)  cash cow; distribution 
E)  target market; product

Question 6

After determining that consumers had concerns about fat and carbohydrates, Sardino's Pizza began offering a low-fat, low-carb pizza product. The creation of this new product was the result of

Accepted Answer

A)  a competitive advantage. 
B)  a well-defined mission statement. 
C)  good strategic planning. 
D)  a market opportunity. 
E)  opportunistic behavior.

Question 7

In what ways does having a mission statement help an organization achieve its goals?

Accepted Answer

The answer of In what ways does having a mission...

Question 8

Resource deployment and coordination of functional areas of business are determined by

Accepted Answer

A)  the mission statement. 
B)  corporate strategy. 
C)  business-unit strategy. 
D)  marketing strategy. 
E)  the marketing mix.

Question 9

Maureen Fauble is director of career services at a major Midwestern university and works with corporations who are seeking recent college graduates to join their firm. Maureen is interested in attracting DePuyOrthopaedics, Inc., which is a division of Johnson & Johnson to recruit entry-level marketing and sales representatives. Maureen has received very favorable word-of-mouth communication from alumni about DePuyOrthopaedics and employees are extremely satisfied with the company's culture and feel empowered to make decisions. In addition, they report that they are given a high degree of flexibility and autonomy, which enables them to quickly respond and adapt rapidly to changing customer needs. It's likely that DePuyOrthopaedics has implemented a ____________ organizational structure.

Accepted Answer

A)  decentralized 
B)  centralized 
C)  controlled 
D)  paternal

Question 10

Hallaway's Corp.'s new shampoo, VS2, is faltering badly in the market. Hallaway's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Hallaway Marketing Director Carolyn Willis said that the problem is that VS2 has the most poorly written ____ she has ever seen.

Accepted Answer

A)  marketing plan 
B)  competitive plan 
C)  implementation plan 
D)  media schedule 
E)  product specification sheet

Question 11

It begins with the establishment of revision of an organization's mission and goals. The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

Accepted Answer