Question 1

Figure 2-7
  
-Quadrant D in Figure 2-7 above represents a(n)________ in a SWOT analysis.

Accepted Answer

A) a threat 
B) a weakness 
C) a strength 
D) an opportunity 
E) a market segment 
A) a threat 
B) a weakness 
C) a strength 
D) an opportunity 
E) a market segment

Question 2

The terms ________ and a mission statement are often used interchangeably.

Accepted Answer

A) idea 
B) objective 
C) vision 
D) goal 
E) protocol 
A) idea 
B) objective 
C) vision 
D) goal 
E) protocol

Question 3

Explain what a visionary organization is and the three questions (why,what,and how)that need to be answered to achieve success.

Accepted Answer

Management experts stress that to be suc

Question 4

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Accepted Answer

A) business firm 
B) subchapter S corporation 
C) service agency 
D) cooperative 
E) nonprofit organization 
A) business firm 
B) subchapter S corporation 
C) service agency 
D) cooperative 
E) nonprofit organization

Question 5

Apple launched its revolutionary Apple watch in 2015 as the first wearable technology that used a multi-touch user interface.The wearable technologies market grew at a rate of more than 100 percent in 2015.Apple sales were substantial despite a relatively high price and short battery life.The Apple watch entered the market as a

Accepted Answer

A) question mark. 
B) raptor. 
C) hedgehog. 
D) cash cow. 
E) dog. 
A) question mark. 
B) raptor. 
C) hedgehog. 
D) cash cow. 
E) dog.

Question 6

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Accepted Answer

The BCG business portfolio analysis requ

Question 7

Figure 2-7
  
-Quadrant A in Figure 2-7 above represents a(n)________ in a SWOT analysis.

Accepted Answer

A) a threat 
B) a weakness 
C) a strength 
D) an opportunity 
E) a market segment 
A) a threat 
B) a weakness 
C) a strength 
D) an opportunity 
E) a market segment

Question 8

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Accepted Answer

A) innovation group. 
B) business consortium. 
C) tactical group. 
D) SWOT team. 
E) cross-functional team. 
A) innovation group. 
B) business consortium. 
C) tactical group. 
D) SWOT team. 
E) cross-functional team.

Question 9

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

Accepted Answer

Market share is the ratio of sales reven

Question 10

In the Boston Consulting Group (BCG)model for analysis of a firm's strategic business units,or SBUs,the horizontal axis reflects

Accepted Answer

A) market growth rate. 
B) marketing efficiencies. 
C) industry attractiveness. 
D) market segment size. 
E) relative market share. 
A) market growth rate. 
B) marketing efficiencies. 
C) industry attractiveness. 
D) market segment size. 
E) relative market share.

Question 11

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

Accepted Answer

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

Question 12

The planning gap refers to

Accepted Answer

A) the difference between projected total costs and realized total revenues. 
B) the difference between projected total costs and net profits. 
C) the difference between marginal revenue and marginal cost. 
D) the percentage point difference between a firm and its next largest competitor in terms of market share. 
E) the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place. 
A) the difference between projected total costs and realized total revenues. 
B) the difference between projected total costs and net profits. 
C) the difference between marginal revenue and marginal cost. 
D) the percentage point difference between a firm and its next largest competitor in terms of market share. 
E) the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place.

Question 13

Procter & Gamble (P&G)is a consumer packaged goods company where innovation is a key competitive advantage.This allows the firm to develop products like Crest Whitestrips that consumers crave.P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands.A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n)________ for the firm.

Accepted Answer

A) a strength 
B) a weakness 
C) a threat 
D) an opportunity 
E) a problem 
A) a strength 
B) a weakness 
C) a threat 
D) an opportunity 
E) a problem

Question 14

The marketing program,Step 3 in the strategic planning process,answers which question?

Accepted Answer

A) Who 
B) What 
C) When 
D) Why 
E) How 
A) Who 
B) What 
C) When 
D) Why 
E) How

Question 15

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Accepted Answer

A) sustainability doctrine 
B) core benefit proposition 
C) mission statement 
D) corporate philosophy 
E) code of ethics 
A) sustainability doctrine 
B) core benefit proposition 
C) mission statement 
D) corporate philosophy 
E) code of ethics

Question 16

A(n)________ is a legal entity that consists of people who share a common mission.

Accepted Answer

A) department 
B) organization 
C) SBU 
D) industry 
E) market 
A) department 
B) organization 
C) SBU 
D) industry 
E) market

Question 17

Marketing tactics refer to the

Accepted Answer

A) long-term decisions made to implement the marketing program and the monitoring of those decisions. 
B) detailed day-to-day operational decisions essential to the overall success of marketing strategies. 
C) steps taken to develop an effective marketing plan. 
D) development of marketing strategies to achieve the organization's marketing objectives. 
E) refinement of the organization's mission based on the results obtained from a marketing audit. 
A) long-term decisions made to implement the marketing program and the monitoring of those decisions. 
B) detailed day-to-day operational decisions essential to the overall success of marketing strategies. 
C) steps taken to develop an effective marketing plan. 
D) development of marketing strategies to achieve the organization's marketing objectives. 
E) refinement of the organization's mission based on the results obtained from a marketing audit.

Question 18

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies,one of which is

Accepted Answer

A) supporting farmers who agree to use sustainable farming practices,implementing fair working standards,and investing in local communities. 
B) the intent of making modest profits without sacrificing high product quality standards. 
C) ingredients that are all completely organic and are available only in Vermont to ensure freshness and contribute to the local economy. 
D) a commitment to donating a percentage of profits to Teach for America. 
E) ingredients that come exclusively from developed countries promoting Fair Trade practices. 
A) supporting farmers who agree to use sustainable farming practices,implementing fair working standards,and investing in local communities. 
B) the intent of making modest profits without sacrificing high product quality standards. 
C) ingredients that are all completely organic and are available only in Vermont to ensure freshness and contribute to the local economy. 
D) a commitment to donating a percentage of profits to Teach for America. 
E) ingredients that come exclusively from developed countries promoting Fair Trade practices.

Question 19

Define marketing dashboard and marketing metric and explain how these terms are related.

Accepted Answer

A marketing dashboard is the visual comp

Question 20

The functional level in an organization is where

Accepted Answer

A) groups of specialists actually create value for the organization. 
B) employees perform assigned tasks without actually having input into the decision making process. 
C) all financial outlays are made. 
D) all company hiring and firing occurs. 
E) the strategic planners in SBUs make all decisions regarding which product benefits will be promoted during a promotional campaign. 
A) groups of specialists actually create value for the organization. 
B) employees perform assigned tasks without actually having input into the decision making process. 
C) all financial outlays are made. 
D) all company hiring and firing occurs. 
E) the strategic planners in SBUs make all decisions regarding which product benefits will be promoted during a promotional campaign.

Exam 2: Developing Successful Organizational and Marketing Strategies

Figure 2-7 -Quadrant D in Figure 2-7 above represents a(n)________ in a SWOT analysis.

The terms ________ and a mission statement are often used interchangeably.

Explain what a visionary organization is and the three questions (why,what,and how)that need to be answered to achieve success.

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n)________ in a SWOT analysis.

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

In the Boston Consulting Group (BCG)model for analysis of a firm's strategic business units,or SBUs,the horizontal axis reflects

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

The planning gap refers to

The marketing program,Step 3 in the strategic planning process,answers which question?

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

A(n)________ is a legal entity that consists of people who share a common mission.

Marketing tactics refer to the

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies,one of which is

Define marketing dashboard and marketing metric and explain how these terms are related.

The functional level in an organization is where

Creating Customer Relationships and Value Through Marketing

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, targeting, and Positioning

Developing New Products and Services

Managing Successful Products, services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising,sales Promotion,and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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