Question 1

The acronym SWOT, as in SWOT analysis, stands for

Accepted Answer

A) strengths, weaknesses, opportunities, and tactics. 
B) strengths, weaknesses, options, and tactics. 
C) strengths, weaknesses, opportunities, and threats. 
D) simple, workable, optimal, and timely. 
E) state the problem, work out a strategy, organize your team, and take action. 
A) strengths, weaknesses, opportunities, and tactics. 
B) strengths, weaknesses, options, and tactics. 
C) strengths, weaknesses, opportunities, and threats. 
D) simple, workable, optimal, and timely. 
E) state the problem, work out a strategy, organize your team, and take action.

Question 2

People in the finance and the human resources departments traditionally operate at what organizational level?

Accepted Answer

A) corporate level 
B) top management level 
C) strategic business unit level 
D) functional level 
E) stakeholder level 
A) corporate level 
B) top management level 
C) strategic business unit level 
D) functional level 
E) stakeholder level

Question 3

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Accepted Answer

A) micromarketing; macromarketing 
B) business portfolio; diversification 
C) investment; divestment 
D) dashboards; metrics 
E) subjective; objective 
A) micromarketing; macromarketing 
B) business portfolio; diversification 
C) investment; divestment 
D) dashboards; metrics 
E) subjective; objective

Question 4

Apple, a multimarket, multiproduct firm, manufactures and markets Apple Watch, iPods, iPhones, and iPads as a portfolio of businesses. At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Accepted Answer

The Apple Watch, iPods, iPhones, and iPa

Question 5

The corporate level in an organization is where

Accepted Answer

A) the department heads direct overall strategy for the entire organization. 
B) groups of specialists actually create value for the organization. 
C) a small number of people from different departments are mutually accountable to accomplish a task or a common set of performance goals. 
D) a subsidiary, division, or unit of an organization markets a set of related offerings to a clearly defined group of customers. 
E) top management directs overall strategy for the entire organization. 
A) the department heads direct overall strategy for the entire organization. 
B) groups of specialists actually create value for the organization. 
C) a small number of people from different departments are mutually accountable to accomplish a task or a common set of performance goals. 
D) a subsidiary, division, or unit of an organization markets a set of related offerings to a clearly defined group of customers. 
E) top management directs overall strategy for the entire organization.

Question 6

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 7

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units

Accepted Answer

A) as if each were a separate investment. 
B) to establish their worth to society at large. 
C) to determine which would be suited for a SWOT analysis. 
D) to determine which units are candidates for diversification analysis. 
E) to determine which units can be divided into smaller, tactical business units. 
A) as if each were a separate investment. 
B) to establish their worth to society at large. 
C) to determine which would be suited for a SWOT analysis. 
D) to determine which units are candidates for diversification analysis. 
E) to determine which units can be divided into smaller, tactical business units.

Question 8

The key role of marketing includes

Accepted Answer

A) supporting the board of directors. 
B) operating at the corporate level. 
C) looking outward by listening to customers. 
D) managing executives. 
E) delivering strategic business decisions. 
A) supporting the board of directors. 
B) operating at the corporate level. 
C) looking outward by listening to customers. 
D) managing executives. 
E) delivering strategic business decisions.

Question 9

Ben & Jerry's mission-driven approach led the company to successfully implement many highly creative organizational and marketing strategies. One example includes

Accepted Answer

A) ISO 9000, promoting the quality concept through its commitment to making the finest ice cream from the best ingredients. 
B) "linked prosperity," which encouraged the success of all constituents including employees. 
C) Regeneration Nation, generating enough revenue for the firm to be a completely nonprofit organization. 
D) Give and Go, donating 10 percent of its net profits to local charitable causes and an additional 5 percent to support producers that practice sustainable farming. 
E) PartnerShops, Ben & Jerry scoop shops that are independently owned and operated by community-based nonprofit organizations. 
A) ISO 9000, promoting the quality concept through its commitment to making the finest ice cream from the best ingredients. 
B) "linked prosperity," which encouraged the success of all constituents including employees. 
C) Regeneration Nation, generating enough revenue for the firm to be a completely nonprofit organization. 
D) Give and Go, donating 10 percent of its net profits to local charitable causes and an additional 5 percent to support producers that practice sustainable farming. 
E) PartnerShops, Ben & Jerry scoop shops that are independently owned and operated by community-based nonprofit organizations.

Question 10

Specialized functions such as marketing and finance are generally referred to as

Accepted Answer

A) teams. 
B) groups. 
C) divisions. 
D) departments. 
E) business units. 
A) teams. 
B) groups. 
C) divisions. 
D) departments. 
E) business units.

Question 11

Market segmentation is a part of what step in the strategic marketing process?

Accepted Answer

A) situation analysis 
B) market-product focus and goal setting 
C) marketing program 
D) implementation 
E) evaluation 
A) situation analysis 
B) market-product focus and goal setting 
C) marketing program 
D) implementation 
E) evaluation

Question 12

Those characteristics of a product that make it superior to competitive substitutes are referred to as

Accepted Answer

A) core benefit propositions. 
B) marketing mix elements. 
C) points of difference. 
D) marketing attributes. 
E) product protocols. 
A) core benefit propositions. 
B) marketing mix elements. 
C) points of difference. 
D) marketing attributes. 
E) product protocols.

Question 13

Many local and national chain bookstores, such as Borders and Bookstar, have closed over the past few years. This is due in part to competition from e-book readers such as Amazon's Kindle and Apple's iPad, which permit the online purchase and download of digital books from their websites. Moreover, subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news. These trends have caused the StarTribune newspaper to offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition. These companies had to change their __________, an action triggered by the technological and social changes in their marketing environments.

Accepted Answer

A) organizational cultures 
B) marketing tactics 
C) business models 
D) strategic marketing processes 
E) goals or objectives 
A) organizational cultures 
B) marketing tactics 
C) business models 
D) strategic marketing processes 
E) goals or objectives

Question 14

A(n) __________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Accepted Answer

A) organization 
B) business firm 
C) nonprofit 
D) offering 
E) industry 
A) organization 
B) business firm 
C) nonprofit 
D) offering 
E) industry

Question 15

An organization's foundation includes all of the following except

Accepted Answer

A) organizational culture. 
B) business definition. 
C) vision. 
D) core values. 
E) mission. 
A) organizational culture. 
B) business definition. 
C) vision. 
D) core values. 
E) mission.

Question 16

The __________ element of the marketing mix includes channels and transportation.

Accepted Answer

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

Question 17

Today's visionary organization uses three key elements to specify its foundation, set a direction, and

Accepted Answer

A) set financial goals. 
B) assign job responsibilities. 
C) formulate strategies. 
D) establish production parameters. 
E) establish detailed marketing tactics. 
A) set financial goals. 
B) assign job responsibilities. 
C) formulate strategies. 
D) establish production parameters. 
E) establish detailed marketing tactics.

Question 18

Lands' End, an American apparel and outerwear firm, ships each order within 48 hours and its guarantee is said to be the best in the world, as exemplified by its tagline "Guaranteed Period." These marketing actions by Lands' End most likely reflect its __________ goals.

Accepted Answer

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

Question 19

Complaints about one of Microsoft's Xbox video game consoles began immediately after its introduction. These complaints ranged from missing parts to incorrect programming. Microsoft should have adopted a more rigorous __________ goal.

Accepted Answer

A) profit 
B) sales revenue 
C) customer satisfaction 
D) employee welfare 
E) quality 
A) profit 
B) sales revenue 
C) customer satisfaction 
D) employee welfare 
E) quality

Question 20

Strategic business units (SBUs) with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

Accepted Answer

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

Exam 2: Developing Successful Organizational and Marketing Strategies

The acronym SWOT, as in SWOT analysis, stands for

People in the finance and the human resources departments traditionally operate at what organizational level?

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Apple, a multimarket, multiproduct firm, manufactures and markets Apple Watch, iPods, iPhones, and iPads as a portfolio of businesses. At what organizational level does Apple set the strategic direction for these businesses to create customer value?

The corporate level in an organization is where

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

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units

The key role of marketing includes

Ben & Jerry's mission-driven approach led the company to successfully implement many highly creative organizational and marketing strategies. One example includes

Specialized functions such as marketing and finance are generally referred to as

Market segmentation is a part of what step in the strategic marketing process?

Those characteristics of a product that make it superior to competitive substitutes are referred to as

A(n) __________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

An organization's foundation includes all of the following except

The __________ element of the marketing mix includes channels and transportation.

Today's visionary organization uses three key elements to specify its foundation, set a direction, and

Lands' End, an American apparel and outerwear firm, ships each order within 48 hours and its guarantee is said to be the best in the world, as exemplified by its tagline "Guaranteed Period." These marketing actions by Lands' End most likely reflect its __________ goals.

Complaints about one of Microsoft's Xbox video game consoles began immediately after its introduction. These complaints ranged from missing parts to incorrect programming. Microsoft should have adopted a more rigorous __________ goal.

Strategic business units (SBUs) with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

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

Financial Aspects of Marketing

Building an Effective Marketing Plan

Filters

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.