Question 1

Figure 2-7
  
-Quadrant C 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

Several years ago,Black & Decker purchased General Electric's small appliances product line.Black & Decker purchased the line because it needed the cash generated from a product line that had a dominant market share in the slow-growth small appliance industry.GE's small appliances product line is most likely a ________ for Black & Decker.

Accepted Answer

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

Question 3

Recently,St.Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year.The hospital touts universal values to "keep health care human" and employees consistently put patients first,which unites them in a common goal.Hospital President Kathy Young believes that St.Joseph's ________ makes both her employees and patients happier in her hospital.

Accepted Answer

A) vision 
B) service offerings 
C) organizational culture 
D) pathos 
E) behavioral protocol 
A) vision 
B) service offerings 
C) organizational culture 
D) pathos 
E) behavioral protocol

Question 4

By understanding its core values,an organization can take steps to define its ________,a statement of the organization's function in society that often identifies its customers,markets,products,and technologies.

Accepted Answer

A) customer value proposition 
B) doctrine 
C) philosophy 
D) mission 
E) code of ethics 
A) customer value proposition 
B) doctrine 
C) philosophy 
D) mission 
E) code of ethics

Question 5

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

Accepted Answer

A) An organizational foundation specifies its goals. 
B) An organizational foundation defines the business that it is in. 
C) An organization's foundation empowers stakeholders to have a voice in the strategic marketing process. 
D) An organization's foundation is its philosophical reason for being-why it exists. 
E) An organization's foundation is the company,its product,and its customers. 
A) An organizational foundation specifies its goals. 
B) An organizational foundation defines the business that it is in. 
C) An organization's foundation empowers stakeholders to have a voice in the strategic marketing process. 
D) An organization's foundation is its philosophical reason for being-why it exists. 
E) An organization's foundation is the company,its product,and its customers.

Question 6

A planning gap is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place.The ultimate purpose of the firm's marketing program is to ________ this planning gap.

Accepted Answer

A) calculate the contribution margin of 
B) calculate the marginal trend of 
C) create the break-even point for 
D) fill in 
E) determine the sales differential of 
A) calculate the contribution margin of 
B) calculate the marginal trend of 
C) create the break-even point for 
D) fill in 
E) determine the sales differential of

Question 7

A ________ is a federal,state,county,or city unit that provides a specific service to its constituents.

Accepted Answer

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

Question 8

Figure 2-7
  
-Quadrant B 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 9

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A) causes dissension between different divisions when one is labeled a "star" and another a "dog." 
B) reduces employee motivation to move a low valued SBU to a higher one. 
C) considers too many SBU factors beyond market growth rate and relative market share. 
D) does not require sales forecasts in order to be implemented. 
E) is often difficult to obtain the needed information to correctly place SBUs in the matrix. 
A) causes dissension between different divisions when one is labeled a "star" and another a "dog." 
B) reduces employee motivation to move a low valued SBU to a higher one. 
C) considers too many SBU factors beyond market growth rate and relative market share. 
D) does not require sales forecasts in order to be implemented. 
E) is often difficult to obtain the needed information to correctly place SBUs in the matrix.

Question 10

Figure 2-3b
  
-According to Figure 2-3b above,which of the following SBUs is currently exceeding its YTD (Year to Date)revenue target?

Accepted Answer

A) Peripherals 
B) Hardware 
C) Circuitry 
D) Software 
E) Grand Total 
A) Peripherals 
B) Hardware 
C) Circuitry 
D) Software 
E) Grand Total

Question 11

The corporate level of an organization is the

Accepted Answer

A) functional level. 
B) proxy for the board of directors. 
C) level of top management that directs overall strategy. 
D) most independent level of the business. 
E) strategic business unit level. 
A) functional level. 
B) proxy for the board of directors. 
C) level of top management that directs overall strategy. 
D) most independent level of the business. 
E) strategic business unit level.

Question 12

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as

Accepted Answer

A) marketing plans. 
B) marketing programs. 
C) marketing tactics. 
D) marketing strategies. 
E) marketing procedures. 
A) marketing plans. 
B) marketing programs. 
C) marketing tactics. 
D) marketing strategies. 
E) marketing procedures.

Question 13

Market penetration refers to the marketing strategy of

Accepted Answer

A) selling current products to new markets. 
B) selling new products to new markets. 
C) selling new products to current markets. 
D) selling the same brands in both current and new markets. 
E) increasing sales of current products in current markets. 
A) selling current products to new markets. 
B) selling new products to new markets. 
C) selling new products to current markets. 
D) selling the same brands in both current and new markets. 
E) increasing sales of current products in current markets.

Question 14

Strategic business units (SBUs)with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as

Accepted Answer

A) cash cows. 
B) stars. 
C) question marks. 
D) dogs. 
E) exclamation points. 
A) cash cows. 
B) stars. 
C) question marks. 
D) dogs. 
E) exclamation points.

Question 15

Cross-functional teams refer to

Accepted Answer

A) members of an organization who have been trained in multiple disciplines so they can easily move from one job to another as needed. 
B) situations where two departments within the same company have opposing views about how a product should be developed and managed. 
C) departments within an organization that carryout multiple functions due to financial constraints within the company. 
D) a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals. 
E) departments within an organization that manage the same product with distinctly different marketing programs to reach different target markets. 
A) members of an organization who have been trained in multiple disciplines so they can easily move from one job to another as needed. 
B) situations where two departments within the same company have opposing views about how a product should be developed and managed. 
C) departments within an organization that carryout multiple functions due to financial constraints within the company. 
D) a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals. 
E) departments within an organization that manage the same product with distinctly different marketing programs to reach different target markets.

Question 16

The ________ element of the marketing mix includes features and packaging.

Accepted Answer

A) product 
B) price 
C) promotion 
D) place 
E) people 
A) product 
B) price 
C) promotion 
D) place 
E) people

Question 17

Organizations that develop similar offerings,when grouped together,create

Accepted Answer

A) a conglomerate. 
B) a merger. 
C) an industry. 
D) a sector. 
E) a monopoly. 
A) a conglomerate. 
B) a merger. 
C) an industry. 
D) a sector. 
E) a monopoly.

Question 18

What are the four components of the implementation phase of the strategic marketing process?

Accepted Answer

The four components of the implementatio

Question 19

Because an organization has limited influence on market growth rate,its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share.The most likely way for a company to turn a question mark into a star rather than a dog is to

Accepted Answer

A) divert funds to other SBUs. 
B) reduce advertising for it. 
C) inject cash into it. 
D) reduce the feature set for it. 
E) decrease the market growth rate. 
A) divert funds to other SBUs. 
B) reduce advertising for it. 
C) inject cash into it. 
D) reduce the feature set for it. 
E) decrease the market growth rate.

Question 20

In terms of an organization's business,railroads lost market share in the 20th century because they

Accepted Answer

A) had less flexible routes than trucking. 
B) defined their business too narrowly. 
C) tried to create a business that appealed equally to all people. 
D) priced their services too high. 
E) were simply an outmoded form of transportation. 
A) had less flexible routes than trucking. 
B) defined their business too narrowly. 
C) tried to create a business that appealed equally to all people. 
D) priced their services too high. 
E) were simply an outmoded form of transportation.

Exam 2: Developing Successful Organizational and Marketing Strategies

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

By understanding its core values,an organization can take steps to define its ________,a statement of the organization's function in society that often identifies its customers,markets,products,and technologies.

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

A planning gap is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place.The ultimate purpose of the firm's marketing program is to ________ this planning gap.

A ________ is a federal,state,county,or city unit that provides a specific service to its constituents.

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

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Figure 2-3b -According to Figure 2-3b above,which of the following SBUs is currently exceeding its YTD (Year to Date)revenue target?

The corporate level of an organization is the

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as

Market penetration refers to the marketing strategy of

Strategic business units (SBUs)with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as

Cross-functional teams refer to

The ________ element of the marketing mix includes features and packaging.

Organizations that develop similar offerings,when grouped together,create

What are the four components of the implementation phase of the strategic marketing process?

Because an organization has limited influence on market growth rate,its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share.The most likely way for a company to turn a question mark into a star rather than a dog is to

In terms of an organization's business,railroads lost market share in the 20th century because they

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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