Question 1

Lenovo Computers implemented a new manufacturing strategy that reduced warranty calls by 20 percent. This is an example of setting a goal.

Accepted Answer

A) customer satisfaction 
B) market share 
C) employee welfare 
D) social responsibility 
A) customer satisfaction 
B) market share 
C) employee welfare 
D) social responsibility A

Question 2

A SWOT analysis can be useful in helping Ben & Jerry's identify new ice cream flavours and social responsibility programs that will contribute to its mission. What elements might their SWOT analysis contain?

Accepted Answer

SWOT analysis for Ben & Jerry's might contain the following elements:

Strengths: 
- Strong brand recognition and customer loyalty
- Wide variety of unique and innovative ice cream flavors
- Commitment to using high-quality, ethically-sourced ingredients
- Strong social responsibility programs and commitment to environmental sustainability

Weaknesses:
- Reliance on dairy products, which may limit appeal to vegan and lactose-intolerant consumers
- Limited distribution compared to larger ice cream brands
- Higher price point compared to some competitors

Opportunities:
- Expansion into new markets, both domestically and internationally
- Development of new non-dairy and vegan ice cream options
- Collaborations with other socially responsible companies or organizations

Threats:
- Intense competition in the ice cream industry
- Fluctuating prices of key ingredients
- Changing consumer preferences and health trends impacting demand for traditional ice cream products

By analyzing these elements, Ben & Jerry's can make informed decisions about new ice cream flavors and social responsibility programs that align with their mission and capitalize on their strengths while addressing their weaknesses and potential threats.

Question 3

Which of the following statements reflects both of the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Accepted Answer

A) Design a sample ad and test it using visitors to a trade show. 
B) Buy ads in all the major trade journals aimed at businesses in the entertainment and/or sports industry. 
C) Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
D) Hire six new sales representatives for the Midwest regional office and train them on all aspects of strategy. 
A) Design a sample ad and test it using visitors to a trade show. 
B) Buy ads in all the major trade journals aimed at businesses in the entertainment and/or sports industry. 
C) Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
D) Hire six new sales representatives for the Midwest regional office and train them on all aspects of strategy. C

Question 4

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to have a presence in over 100 countries, even if they are not profitable, their growth strategy is:

Accepted Answer

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

Question 5

Nokia has an exclusive relationship with Microsoft for their Windows operating system for their mobile phones, where no other mobile phone companies can use the Windows OS. This is an example of:

Accepted Answer

A) Market penetration 
B) Competitive advantage 
C) Business divergence 
D) Product differentiation 
A) Market penetration 
B) Competitive advantage 
C) Business divergence 
D) Product differentiation

Question 6

Loyal consumers have found numerous uses for WD-40 lubricating spray beyond what its manufacturer intended. A few years ago, its manufacturer ran a contest asking people to send in ways that they used the product. For example, some respondents said they were using the product as an insect killing spray (and some people really were. By capitalizing on the unforeseen ways its product gets used, the WD-40 manufacturer Could implement a________ strategy.

Accepted Answer

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

Question 7

Netflix uses the internet to allow its customers to view movies and exclusive television shows. It jumped into an industry where there were no firm leaders but lots of competitors and established a loyal clientele by seizing the opportunity to provide a service that was simple to use and effective at delivering high-quality products to Customers. The internet-delivery mechanism is an example of a(n)________for
Netflix:

Accepted Answer

A) benchmarking-focus. 
B) viable mission. 
C) competitive advantage. 
D) tactical innovation. 
A) benchmarking-focus. 
B) viable mission. 
C) competitive advantage. 
D) tactical innovation.

Question 8

Facebook has a stated goal that they provide free, onsite day care for employee's children, and free, healthy lunches for employees. Facebook is concerned with:

Accepted Answer

A) return on investment 
B) sales revenue 
C) employee welfare 
D) market share 
A) return on investment 
B) sales revenue 
C) employee welfare 
D) market share

Question 9

Which of the following statements about stakeholders is true?

Accepted Answer

A) Employees are typically not classified as a stakeholder group. 
B) All stakeholders are external to the organization. 
C) Stakeholders have a stake in how well a company performs. 
D) There are only three types of external stakeholders - customers, suppliers, and distributors. 
A) Employees are typically not classified as a stakeholder group. 
B) All stakeholders are external to the organization. 
C) Stakeholders have a stake in how well a company performs. 
D) There are only three types of external stakeholders - customers, suppliers, and distributors.

Question 10

Apple's marketing department has specified a target market for the iPhone 5C, the subsequent actions undertaken to realize their goal of strong sales in this market is known as:

Accepted Answer

A) plan 
B) procedure 
C) concept 
D) strategy 
A) plan 
B) procedure 
C) concept 
D) strategy

Question 11

Determining the target market and designing marketing programs to reach this target market is a specialized marketing function. This is accomplished by the marketing:

Accepted Answer

A) team. 
B) group. 
C) department. 
D) partnership. 
A) team. 
B) group. 
C) department. 
D) partnership.

Question 12

The market for the fast car with so much horsepower that handling becomes an issue is decreasing. People are more interested in buying SUVs and pickups. As a result, General Motors is stopping production of its Camaro, a car that has had limited sales recently. Since the Camaro can no longer generate enough cash to sustain its
Manufacture, the BCG portfolio would classify it as a:

Accepted Answer

A) star. 
B) question mark. 
C) dog. 
D) cash cow. 
A) star. 
B) question mark. 
C) dog. 
D) cash cow.

Question 13

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to branch out from the frozen foods category into the ready-to-serve beverage market, their growth strategy is:

Accepted Answer

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

Question 14

Name and briefly describe the seven types of corporate goals set in advance of work? The seven types of corporate goals set in advance of work are:

Accepted Answer

The answer of Name and briefly describe the seven types...

Question 15

The components of strengths and weaknesses are often considered as which part of the situational analysis:

Accepted Answer

A) external to the organization 
B) internal to the organization 
C) both internal and external to the organization 
D) not part of the situational analysis 
A) external to the organization 
B) internal to the organization 
C) both internal and external to the organization 
D) not part of the situational analysis

Question 16

The market for energy efficient cars is increasing, despite the price-tag often associated with these newer models. The GM Volt, an electric call, falls in this category. The car is considered to GM a:

Accepted Answer

A) star 
B) dog 
C) question mark 
D) cash cow 
A) star 
B) dog 
C) question mark 
D) cash cow

Question 17

When BellSouth made plans to increase its presence in the lucrative Latin American market, some of its employees decided BellSouth needed to acquire the rest of Telefonia Cellular de Nicaragua, one of its subsidiaries in Latin America. To do so,
They paid a substantial sum to the wife of a Nicaraguan legislator who was responsible for legal changes that were needed to allow Telefonia to become completely owned by BellSouth. This payment was in direct violation of U.S. law, and BellSouth had to pay a hefty fine and divest itself of its illegal acquisition. In which phase of the strategic
Marketing process did the BellSouth strategy fail?

Accepted Answer

A) the goal-setting phase 
B) the control phase 
C) the implementation phase 
D) the strategic development phase 
A) the goal-setting phase 
B) the control phase 
C) the implementation phase 
D) the strategic development phase

Question 18

3M has developed a quality program called ________:

Accepted Answer

A) Six Sigma 
B) Play Profit Prevent (3P) 
C) Profit Profit Profit (3P) 
D) Pollution Prevention Pays (3P) 
A) Six Sigma 
B) Play Profit Prevent (3P) 
C) Profit Profit Profit (3P) 
D) Pollution Prevention Pays (3P)

Question 19

At a recent executive meeting, the marketing manager said: "starting tomorrow, we will Tweet five times a day!" This decision is an example of a(n):

Accepted Answer

A) un-analyzed decision 
B) marketing tactic 
C) rash decision 
D) marketing strategy 
A) un-analyzed decision 
B) marketing tactic 
C) rash decision 
D) marketing strategy

Question 20

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals. Due to the resources it makes available to its scientists and researchers, the company has a number of Nobel Prize winners working in its laboratories. This ability to attract some of the finest minds in the world to its workforce is an example of a(n):

Accepted Answer

A) market accomplishment. 
B) synergistic capacity. 
C) unsought benefit. 
D) competency. 
A) market accomplishment. 
B) synergistic capacity. 
C) unsought benefit. 
D) competency.

Lenovo Computers implemented a new manufacturing strategy that reduced warranty calls by 20 percent. This is an example of setting a goal.

A SWOT analysis can be useful in helping Ben & Jerry's identify new ice cream flavours and social responsibility programs that will contribute to its mission. What elements might their SWOT analysis contain?

Which of the following statements reflects both of the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to have a presence in over 100 countries, even if they are not profitable, their growth strategy is:

Nokia has an exclusive relationship with Microsoft for their Windows operating system for their mobile phones, where no other mobile phone companies can use the Windows OS. This is an example of:

Facebook has a stated goal that they provide free, onsite day care for employee's children, and free, healthy lunches for employees. Facebook is concerned with:

Which of the following statements about stakeholders is true?

Apple's marketing department has specified a target market for the iPhone 5C, the subsequent actions undertaken to realize their goal of strong sales in this market is known as:

Determining the target market and designing marketing programs to reach this target market is a specialized marketing function. This is accomplished by the marketing:

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to branch out from the frozen foods category into the ready-to-serve beverage market, their growth strategy is:

Name and briefly describe the seven types of corporate goals set in advance of work? The seven types of corporate goals set in advance of work are:

The components of strengths and weaknesses are often considered as which part of the situational analysis:

The market for energy efficient cars is increasing, despite the price-tag often associated with these newer models. The GM Volt, an electric call, falls in this category. The car is considered to GM a:

3M has developed a quality program called ________:

At a recent executive meeting, the marketing manager said: "starting tomorrow, we will Tweet five times a day!" This decision is an example of a(n):

Creating Customer Value, Relationships, and Experiences Through Marketing

Scanning the Marketing Environment

Ethics and Social Responsibility for Sustainable Marketing

Consumer Behaviour

Understanding Organizations As Customers

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: the Strategic Marketing Process

Using Social Media and Mobile Marketing to Connect With Consumers

Filters

Exam 2: Developing Successful Marketing Strategies

Lenovo Computers implemented a new manufacturing strategy that reduced warranty calls by 20 percent. This is an example of setting a goal.

A SWOT analysis can be useful in helping Ben & Jerry's identify new ice cream flavours and social responsibility programs that will contribute to its mission. What elements might their SWOT analysis contain?

Which of the following statements reflects both of the key elements in developing a marketing strategy for L. M. Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to have a presence in over 100 countries, even if they are not profitable, their growth strategy is:

Nokia has an exclusive relationship with Microsoft for their Windows operating system for their mobile phones, where no other mobile phone companies can use the Windows OS. This is an example of:

Facebook has a stated goal that they provide free, onsite day care for employee's children, and free, healthy lunches for employees. Facebook is concerned with:

Which of the following statements about stakeholders is true?

Apple's marketing department has specified a target market for the iPhone 5C, the subsequent actions undertaken to realize their goal of strong sales in this market is known as:

Determining the target market and designing marketing programs to reach this target market is a specialized marketing function. This is accomplished by the marketing:

McCain is the largest French Fries provider to the food service and institutional market segment. When McCain decides to branch out from the frozen foods category into the ready-to-serve beverage market, their growth strategy is:

Name and briefly describe the seven types of corporate goals set in advance of work? The seven types of corporate goals set in advance of work are:

The components of strengths and weaknesses are often considered as which part of the situational analysis:

The market for energy efficient cars is increasing, despite the price-tag often associated with these newer models. The GM Volt, an electric call, falls in this category. The car is considered to GM a:

3M has developed a quality program called ________:

At a recent executive meeting, the marketing manager said: "starting tomorrow, we will Tweet five times a day!" This decision is an example of a(n):

Creating Customer Value, Relationships, and Experiences Through Marketing

Scanning the Marketing Environment

Ethics and Social Responsibility for Sustainable Marketing

Consumer Behaviour

Understanding Organizations As Customers

Reaching Global Markets

Marketing Research: From Information to Action

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Products and Brands

Managing Services

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Personal Selling and Sales Management

Pulling It All Together: the Strategic Marketing Process

Using Social Media and Mobile Marketing to Connect With Consumers

Filters