Question 1

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 2

In marketing, an organization refers to

Accepted Answer

A) a legal entity that consists of people who share a common mission. 
B) a group of people united through contractual or corporate ownership. 
C) a legal entity engaged in business activities solely with the intent of making a profit. 
D) a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. 
E) a privately owned entity that serves its customers to earn a profit so that it can survive. 
A) a legal entity that consists of people who share a common mission. 
B) a group of people united through contractual or corporate ownership. 
C) a legal entity engaged in business activities solely with the intent of making a profit. 
D) a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. 
E) a privately owned entity that serves its customers to earn a profit so that it can survive.

Question 3

In which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

Accepted Answer

A) planning phase 
B) implementation phase 
C) evaluation phase 
D) strategic phase 
E) tactics phase 
A) planning phase 
B) implementation phase 
C) evaluation phase 
D) strategic phase 
E) tactics phase

Question 4

Implementation of IBM's "Smarter Planet" strategy has resulted in all of the following except

Accepted Answer

A) a reduction in supply chain costs for retailers. 
B) a reduction in traffic delays through coordinated signals. 
C) a reduction in power usage for consumers using smart meters. 
D) a reduction in inventory levels, as well as increased sales, for retailers. 
E) a reduction in wasted coverage for advertising messages to increase its efficiency. 
A) a reduction in supply chain costs for retailers. 
B) a reduction in traffic delays through coordinated signals. 
C) a reduction in power usage for consumers using smart meters. 
D) a reduction in inventory levels, as well as increased sales, for retailers. 
E) a reduction in wasted coverage for advertising messages to increase its efficiency.

Question 5

An aid to implementing a marketing plan and consisting of four columns: (1) the task; (2) the person responsible for completing that task; (3) the date to finish the task; and (4) what is to be delivered is referred to as

Accepted Answer

A) an output report. 
B) a Gantt chart. 
C) a market plan. 
D) an action item list. 
E) a marketing action memo. 
A) an output report. 
B) a Gantt chart. 
C) a market plan. 
D) an action item list. 
E) a marketing action memo.

Question 6

A(n) __________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A) marketing metric 
B) output report 
C) marketing dashboard 
D) information screen 
E) corporate dashboard 
A) marketing metric 
B) output report 
C) marketing dashboard 
D) information screen 
E) corporate dashboard

Question 7

The marketing strategy to sell current products to new markets is referred to as

Accepted Answer

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

Question 8

A family owns a gelato business next to a small town's park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. He experiments by purchasing large take-home containers so customers can not only consume gelato in the park but also enjoy it after dinner at home. Sales of gelato soar and profits begin to rise. This is an example of a __________ strategy.

Accepted Answer

A) product penetration 
B) market penetration 
C) product development 
D) market development 
E) market evolution 
A) product penetration 
B) market penetration 
C) product development 
D) market development 
E) market evolution

Question 9

Successful organizations must be visionary, which includes the ability to

Accepted Answer

A) develop strategies based on those that were successful in the past. 
B) be backward-looking, examining the past carefully to learn from mistakes. 
C) anticipate future events and respond quickly and effectively. 
D) hire the most culturally diverse team possible in order to generate the best new ideas. 
E) involve all stakeholders of the organization when defining its business mission. 
A) develop strategies based on those that were successful in the past. 
B) be backward-looking, examining the past carefully to learn from mistakes. 
C) anticipate future events and respond quickly and effectively. 
D) hire the most culturally diverse team possible in order to generate the best new ideas. 
E) involve all stakeholders of the organization when defining its business mission.

Question 10

The strategic business unit level

Accepted Answer

A) works most directly with the organization's target customers. 
B) directs the overall strategy for the organization. 
C) is most likely to change substantially over time. 
D) provides more end-user analysis in order to design more customer-directed products. 
E) is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities. 
A) works most directly with the organization's target customers. 
B) directs the overall strategy for the organization. 
C) is most likely to change substantially over time. 
D) provides more end-user analysis in order to design more customer-directed products. 
E) is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.

Question 11

When evaluations show that actual performance differs from expectations, firms typically attempt to

Accepted Answer

A) decide if the time horizon should be increased or decreased. 
B) perform a SWOT analysis with their major competitor as the principal focus. 
C) use statistical linear trend analysis to interpret the results. 
D) exploit a positive deviation or correct a negative deviation. 
E) adopt a market-product grid to analyze the sales results. 
A) decide if the time horizon should be increased or decreased. 
B) perform a SWOT analysis with their major competitor as the principal focus. 
C) use statistical linear trend analysis to interpret the results. 
D) exploit a positive deviation or correct a negative deviation. 
E) adopt a market-product grid to analyze the sales results.

Question 12

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets. 
A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.

Question 13

Explain the difference between competencies and competitive advantage in an organizational setting.

Accepted Answer

An organization's core competencies are

Question 14

If Dr. Pepper plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent, it has set __________ goal.

Accepted Answer

A) a sales proportionality 
B) a company sales 
C) an industry potential 
D) a contribution margin 
E) a market share 
A) a sales proportionality 
B) a company sales 
C) an industry potential 
D) a contribution margin 
E) a market share

Question 15

Large organizations are extremely complex, and usually consist of __________ organizational levels whose strategies are linked to marketing.

Accepted Answer

A) two 
B) three 
C) five 
D) six 
E) seven or more 
A) two 
B) three 
C) five 
D) six 
E) seven or more

Question 16

The philosophical reason for an organization's existence is referred to as its organizational

Accepted Answer

A) strategy. 
B) direction. 
C) foundation. 
D) goal. 
E) business. 
A) strategy. 
B) direction. 
C) foundation. 
D) goal. 
E) business.

Question 17

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 18

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 19

With a marketing dashboard, a marketing manager can glance at all of the following except

Accepted Answer

A) the time frame for which the data are presented. 
B) a graph. 
C) a table. 
D) a printed report. 
E) a map. 
A) the time frame for which the data are presented. 
B) a graph. 
C) a table. 
D) a printed report. 
E) a map.

Question 20

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. Cash cows are located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant 
A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant

Exam 2: Developing Successful Organizational and Marketing Strategies

Cross-functional teams refer to

In marketing, an organization refers to

In which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

Implementation of IBM's "Smarter Planet" strategy has resulted in all of the following except

An aid to implementing a marketing plan and consisting of four columns: (1) the task; (2) the person responsible for completing that task; (3) the date to finish the task; and (4) what is to be delivered is referred to as

A(n) __________ is the visual computer display of the essential information related to achieving a marketing objective.

The marketing strategy to sell current products to new markets is referred to as

Successful organizations must be visionary, which includes the ability to

The strategic business unit level

When evaluations show that actual performance differs from expectations, firms typically attempt to

One way a company can benefit from implementing a market penetration strategy would be to

Explain the difference between competencies and competitive advantage in an organizational setting.

If Dr. Pepper plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent, it has set __________ goal.

Large organizations are extremely complex, and usually consist of __________ organizational levels whose strategies are linked to marketing.

The philosophical reason for an organization's existence is referred to as its organizational

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

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

With a marketing dashboard, a marketing manager can glance at all of the following except

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization. Cash cows are located in which quadrant of the BCG growth-share matrix?

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

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