Question 1

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Accepted Answer

A) "The IBM Way." 
B) "Smarter Planet." 
C) "Reinvent Business." 
D) "The 2015 Road Map." 
E) "Big Blue."

Question 2

In the context of organizational direction,the term business refers to

Accepted Answer

A) the daily operational decisions that must be implemented for an organization to remain viable. 
B) exchange transactions between seller and buyer in order for the seller to make sales and earn profits. 
C) the clear,broad,underlying industry or market sector of an organization's offering. 
D) an organization that develops an offering. 
E) the objectives of a firm and the strategies and tactics that will allow it to achieve them.

Question 3

Figure 2-5
 
-Quadrant C in Figure 2-5 above represents the marketing strategy of

Accepted Answer

A) product development. 
B) market penetration. 
C) market development. 
D) product penetration. 
E) diversification.

Question 4

Rooted in its history and its leadership by Mark Zuckerberg,the ________ at Facebook are: be bold,focus on impact,move fast,be open,and build social value.

Accepted Answer

A) sustainability doctrines 
B) goals and objectives 
C) core values 
D) moral imperatives 
E) functional strategies

Question 5

American Express,the credit card and travel organization,has a long history of working for the good of all in its New York community.In 1885,it engaged its employees to help raise money to build the pedestal of the Statue of Liberty.Today,it has a program to help restore,preserve,and revitalize historic sites in New York City.These actions by American Express are partial fulfillment of the ________ the firm has established for itself as a corporate citizen.

Accepted Answer

A) unit sales goals 
B) market share goals 
C) sales revenue goals 
D) customer satisfaction goals 
E) social responsibility goals

Question 6

Hellmann's is a brand owned by Unilever that produces mayonnaise,among other food products.If a marketing manager at Hellman's identified that its brand managers lacked the expertise to create additional growth for the firm's products,she would likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A) a weakness if the company does not have access to other expertise at Unilever. 
B) a strength if the company conceals this information from its competitors. 
C) an opportunity if Hellman's competitors have superior expertise. 
D) a threat if Hellman's does not have resources to develop additional expertise. 
E) part of a marketing plan;this information would not be part of a SWOT analysis.

Question 7

In recent years,many large firms have changed the title of the head of marketing from vice president of marketing to

Accepted Answer

A) chief executive officer. 
B) corporate marketing official. 
C) coordinating marketing officer. 
D) chief marketing officer. 
E) corporate marketing executive.

Question 8

________ argued that senior managers of 20th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

Accepted Answer

A) Earl Bakken 
B) Mark Zuckerberg 
C) Reed Hastings 
D) Theodore Levitt 
E) Steve Jobs

Question 9

The marketing strategy of selling new products to current markets is referred to as

Accepted Answer

A) product penetration. 
B) product development. 
C) market development. 
D) diversification. 
E) market penetration.

Question 10

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S.consumers as a result of increased promotion while keeping its price per pint the same,it would be using a ________ strategy.

Accepted Answer

A) product development 
B) market development 
C) market penetration 
D) diversification 
E) market saturation

Question 11

The key steps of planning,implementation,and evaluation are part of

Accepted Answer

A) gap analysis. 
B) the strategic marketing process. 
C) situational analysis. 
D) synergy analysis. 
E) diversification analysis.

Question 12

Figure 2-5
 
-Quadrant D in Figure 2-5 above represents the marketing strategy of

Accepted Answer

A) market penetration. 
B) product penetration. 
C) market development. 
D) product development. 
E) diversification.

Question 13

A set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization is referred to as its

Accepted Answer

A) mission statement. 
B) core value proposition. 
C) organizational culture. 
D) corporate philosophy. 
E) core benefit proposition.

Question 14

Motorola,a pioneer firm in the mobile communications space,invented a program known as Six Sigma,which sets as a goal no more than one defect in one million parts manufactured.This is an example of ________ goal.

Accepted Answer

A) a profit 
B) a sales revenue 
C) a quality 
D) a market share 
E) an employee welfare

Question 15

A marketing metric refers to

Accepted Answer

A) a measure of the quantitative value or trend of a marketing activity or result. 
B) a form of linear trend analysis used to project future profits based on existing marketing plans. 
C) one of a series of mathematical formulas used to calculate potential profits based upon different scenarios of the forces in the marketing environment. 
D) information about an organization's core values and code of ethics so marketers can quickly spot deviations and take corrective actions. 
E) the value of a product in terms of its contribution to employee welfare.

Question 16

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give at least one example of each.

Accepted Answer

The answer of A campus service organization annually raises money...

Question 17

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A) market aggregation. 
B) market segmentation. 
C) product sorting. 
D) product grouping. 
E) mass marketing.

Question 18

A marketing strategy to increase sales of current products in current markets is referred to as

Accepted Answer

A) market penetration. 
B) market development. 
C) product development. 
D) diversification. 
E) marketing synergy.

Question 19

Which of the following statements regarding organizational culture is most accurate?

Accepted Answer

A) Organizational culture exists only at the corporate level of an organization. 
B) Organizational culture involves communicating and connecting with all of the firm's stakeholders. 
C) Organizational culture is best used only at the functional level for the most effective results. 
D) Organizational culture cannot be learned or taught. 
E) Organizational culture is a statement of the organization's function in society.

Question 20

A technique that managers use to categorize strategic business units as question marks,stars,cash cows,or dogs is referred to as

Accepted Answer

A) an investment (ROI)analysis. 
B) a synergy analysis. 
C) a marketing audit. 
D) a diversification analysis. 
E) a business portfolio analysis.

Exam 2: Developing Successful Organizational and Marketing Strategies