Question 1

The current markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Accepted Answer

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

Question 2

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

Question 3

Howard Schultz, the founder of the American coffee chain Starbucks, provides health care for all employees who work over 20 hours per week. He says, "The companies that are doing the right thing by covering their employees [with health care coverage] are paying for the companies who don't do the right thing." This is an example of one of Starbucks' __________ goals.

Accepted Answer

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

Question 4

Objectives refer to

Accepted Answer

A) the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program designed to reach it. 
B) criteria or standards used in evaluating proposed solutions to a marketing problem. 
C) statements of an accomplishment of a task to be achieved, often by a specific time. 
D) a road map for the marketing activities of an organization for a specified future time period, such as one year or five years. 
E) the detailed day-to-day operational decisions essential to the overall success of marketing strategies. 
A) the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program designed to reach it. 
B) criteria or standards used in evaluating proposed solutions to a marketing problem. 
C) statements of an accomplishment of a task to be achieved, often by a specific time. 
D) a road map for the marketing activities of an organization for a specified future time period, such as one year or five years. 
E) the detailed day-to-day operational decisions essential to the overall success of marketing strategies.

Question 5

Product development refers to the marketing strategy of

Accepted Answer

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

Question 6

In its business portfolio analysis, an organization's strategic business units (SBUs) often start as __________ and eventually become __________.

Accepted Answer

A) dogs; question marks 
B) question marks; stars 
C) stars; question marks 
D) stars; dogs 
E) question marks; dogs 
A) dogs; question marks 
B) question marks; stars 
C) stars; question marks 
D) stars; dogs 
E) question marks; dogs

Question 7

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr. Company's Global Innovation Center. Here, Wrigley creates new products using a joint effort by some 250 full-time food scientists, researchers, and marketers. The people who work in this center are most likely members of

Accepted Answer

A) an innovation squad. 
B) a business consortium. 
C) a multiple strategic directional team. 
D) a strategic evaluation team. 
E) a cross-functional team. 
A) an innovation squad. 
B) a business consortium. 
C) a multiple strategic directional team. 
D) a strategic evaluation team. 
E) a cross-functional team.

Question 8

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities, it sets an employee __________ goal.

Accepted Answer

A) satisfaction 
B) responsibility 
C) compensation 
D) core value 
E) welfare 
A) satisfaction 
B) responsibility 
C) compensation 
D) core value 
E) welfare

Question 9

Which of the following is not an example of an industry?

Accepted Answer

A) the computer industry 
B) the automobile industry 
C) the landscaping industry 
D) the government industry 
E) the television programming industry 
A) the computer industry 
B) the automobile industry 
C) the landscaping industry 
D) the government industry 
E) the television programming industry

Question 10

All of the following were strategic opportunities identified in IBM's 2015 road map except

Accepted Answer

A) the connected, "smarter planet." 
B) cloud and smarter computing. 
C) a shift from software and services to PCs and hard disk drives. 
D) business analytics and optimization. 
E) growth markets such as China, India, Brazil, and Africa. 
A) the connected, "smarter planet." 
B) cloud and smarter computing. 
C) a shift from software and services to PCs and hard disk drives. 
D) business analytics and optimization. 
E) growth markets such as China, India, Brazil, and Africa.

Question 11

According to the textbook, the terms firm, company, and organization

Accepted Answer

A) refer to for-profits, nonprofits, and government agencies, respectively. 
B) refer to nonprofits, government agencies, and for-profits, respectively. 
C) refer to government agencies, for-profits, and nonprofits, respectively. 
D) refer to for-profits, government agencies, and nonprofits, respectively. 
E) can be used interchangeably to cover both profit and nonprofit organizations. 
A) refer to for-profits, nonprofits, and government agencies, respectively. 
B) refer to nonprofits, government agencies, and for-profits, respectively. 
C) refer to government agencies, for-profits, and nonprofits, respectively. 
D) refer to for-profits, government agencies, and nonprofits, respectively. 
E) can be used interchangeably to cover both profit and nonprofit organizations.

Question 12

The strategic marketing process

Accepted Answer

A) involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. 
B) is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments. 
C) describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats. 
D) is an approach whereby an organization allocates its marketing mix resources to reach its target markets. 
E) seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. 
A) involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it. 
B) is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments. 
C) describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats. 
D) is an approach whereby an organization allocates its marketing mix resources to reach its target markets. 
E) seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Question 13

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

Question 14

A mission statement should be

Accepted Answer

A) short-term. 
B) long-term. 
C) fact-based. 
D) complex. 
E) permanent. 
A) short-term. 
B) long-term. 
C) fact-based. 
D) complex. 
E) permanent.

Question 15

A mission statement should be

Accepted Answer

A) short-term. 
B) inspirational. 
C) fact-based. 
D) complex. 
E) permanent. 
A) short-term. 
B) inspirational. 
C) fact-based. 
D) complex. 
E) permanent.

Question 16

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

Accepted Answer

A marketing dashboard is the visual comp

Question 17

A business model

Accepted Answer

A) is a road map for the marketing activities of an organization for a specified future time period. 
B) consists of the strategies an organization develops to provide value to the customers it serves. 
C) is a measure of the quantitative value or trend of a marketing activity or result. 
D) consists of the detailed day-to-day operational decisions for an organization. 
E) is the means by which organizational goals are to be measured and documented. 
A) is a road map for the marketing activities of an organization for a specified future time period. 
B) consists of the strategies an organization develops to provide value to the customers it serves. 
C) is a measure of the quantitative value or trend of a marketing activity or result. 
D) consists of the detailed day-to-day operational decisions for an organization. 
E) is the means by which organizational goals are to be measured and documented.

Question 18

The strategic marketing process involves three phases: planning, implementation, and

Accepted Answer

A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction. 
A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction.

Question 19

What is a cross-functional team and how is it used?

Accepted Answer

When developing marketing programs for n

Question 20

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

Exam 2: Developing Successful Organizational and Marketing Strategies

The current markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

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

Objectives refer to

Product development refers to the marketing strategy of

In its business portfolio analysis, an organization's strategic business units (SBUs) often start as __________ and eventually become __________.

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities, it sets an employee __________ goal.

Which of the following is not an example of an industry?

All of the following were strategic opportunities identified in IBM's 2015 road map except

According to the textbook, the terms firm, company, and organization

The strategic marketing process

A mission statement should be

A mission statement should be

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

A business model

The strategic marketing process involves three phases: planning, implementation, and

What is a cross-functional team and how is it used?

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

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

In its business portfolio analysis, an organization's strategic business units (SBUs) often start as and eventually become .