Question 1

Recently,many organizations have added __________ to their mission statements.

Accepted Answer

A)  a business definition 
B)  a social element to reflect what is morally right and worthwhile 
C)  an economic element to promote profit maximization 
D)  an expanded definition of stakeholders to include its competitors 
E)  their level of pricing and product quality. 
A)  a business definition 
B)  a social element to reflect what is morally right and worthwhile 
C)  an economic element to promote profit maximization 
D)  an expanded definition of stakeholders to include its competitors 
E)  their level of pricing and product quality. B

Question 2

Ben & Jerry's sold a line of new "Occupy Ben & Jerry's" T-shirts targeted to college students in the U.S.,it would be using a __________ strategy.

Accepted Answer

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

Question 3

two major aspects of the evaluation phase of the strategic marketing process are

Accepted Answer

A)  segmenting the market and selecting target markets. 
B)  establishing a business mission and designing measurable goals and objectives. 
C)  designing the marketing mix and setting the budget. 
D)  comparing the results of the marketing program with the goals in the written plans to identify deviations and to act on them. 
E)  executing the marketing plan and designing the marketing organization. 
A)  segmenting the market and selecting target markets. 
B)  establishing a business mission and designing measurable goals and objectives. 
C)  designing the marketing mix and setting the budget. 
D)  comparing the results of the marketing program with the goals in the written plans to identify deviations and to act on them. 
E)  executing the marketing plan and designing the marketing organization. D

Question 4

marketing __________ is defined as the means by which a marketing goal is to be achieved,usually characterized by a specified target market and a marketing program to reach it.

Accepted Answer

A)  plan 
B)  tactic 
C)  strategy 
D)  concept 
E)  action 
A)  plan 
B)  tactic 
C)  strategy 
D)  concept 
E)  action

Question 5

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Homemade Ice Cream that help it identify the critical strategy-related factors that could impact the firm.

Accepted Answer

A SWOT analysis is an acronym that descr

Question 6

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a(n)__________ goal.

Accepted Answer

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

Question 7

According to the textbook,all of the following terms can be used interchangeably to refer to entities that engage in business and nonprofit operations EXCEPT:

Accepted Answer

A)  an organization. 
B)  a company. 
C)  a firm. 
D)  a corporation. 
E)  an enterprise. 
A)  an organization. 
B)  a company. 
C)  a firm. 
D)  a corporation. 
E)  an enterprise.

Question 8

new company projects that its sales will exceed its expenses within the first year of operation.This is an example of which type of goal?

Accepted Answer

A)  dollar sales revenue 
B)  profit 
C)  market share 
D)  unit sales 
E)  quality 
A)  dollar sales revenue 
B)  profit 
C)  market share 
D)  unit sales 
E)  quality

Question 9

Often used interchangeably with "vision" a(n)__________ frequently has an inspirational theme.

Accepted Answer

A)  point of difference 
B)  mission statement 
C)  business definition 
D)  core value proposition 
E)  marketing plan 
A)  point of difference 
B)  mission statement 
C)  business definition 
D)  core value proposition 
E)  marketing plan

Question 10

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."Question marks" are SBUs that are classified as having

Accepted Answer

A)  high market growth rates and high relative market shares. 
B)  low market growth rates but high relative market shares. 
C)  low market growth rates and low relative market shares. 
D)  high market growth rates but low relative market shares. 
E)  medium market growth rates and medium relative market shares. 
A)  high market growth rates and high relative market shares. 
B)  low market growth rates but high relative market shares. 
C)  low market growth rates and low relative market shares. 
D)  high market growth rates but low relative market shares. 
E)  medium market growth rates and medium relative market shares.

Question 11

Figure 2-2
-According to Figure 2-2 above,what are the three elements that today's visionary organization must do to be forward looking and successful in its marketing environment?

Accepted Answer

Management experts stress that to be suc

Question 12

name Netflix was chosen specifically because

Accepted Answer

A)  it sounded new and upbeat. 
B)  it ended in the letter "x," which causes a word to have an "edge" to it. 
C)  the company knew that it would eventually deliver movies over the Internet. 
D)  hidden within the name is the word "next," implying a forward looking company. 
E)  it rhymed with "best-picks" and alluded to both quality and the visual aspects of its service. 
A)  it sounded new and upbeat. 
B)  it ended in the letter "x," which causes a word to have an "edge" to it. 
C)  the company knew that it would eventually deliver movies over the Internet. 
D)  hidden within the name is the word "next," implying a forward looking company. 
E)  it rhymed with "best-picks" and alluded to both quality and the visual aspects of its service.

Question 13

Figure 2-10
-question mark (?)represented by the wedge DBC in Figure 2-10 above is the __________.

Accepted Answer

A)  contribution margin 
B)  marginal trend 
C)  breakeven point 
D)  planning gap 
E)  sales differential 
A)  contribution margin 
B)  marginal trend 
C)  breakeven point 
D)  planning gap 
E)  sales differential

Question 14

Figure 2-1
-Using Figure 2-1 above,identify and briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

Accepted Answer

The five levels (three of which are stra

Question 15

small business owner was preparing her staff for the upcoming holiday season.Her women's apparel retail store had a great year-sales and profits were up 20 percent.In a meeting with her sales staff before opening the store on Black Friday,the day after Thanksgiving,she said,"We want to move as much inventory as possible.Not only can we highlight our holiday items,why don't we mark down some of our other seasonal items while people are in a shopping mood?" From this statement,she was concerned with a __________ goal.

Accepted Answer

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

Question 16

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

Accepted Answer

A)  is based solely on company perception rather than actual data. 
B)  considers all factors that might impact an SBU's value to an organization. 
C)  acts as a strong motivational tool for employees in SBUs that have been labeled "dogs" or "question marks." 
D)  forces a firm to place each of its SBUs in the growth-share matrix, which in turn suggests which SBUs will be cash producers and cash users in the future. 
E)  identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings. 
A)  is based solely on company perception rather than actual data. 
B)  considers all factors that might impact an SBU's value to an organization. 
C)  acts as a strong motivational tool for employees in SBUs that have been labeled "dogs" or "question marks." 
D)  forces a firm to place each of its SBUs in the growth-share matrix, which in turn suggests which SBUs will be cash producers and cash users in the future. 
E)  identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings.

Question 17

unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation,is referred to as a

Accepted Answer

A)  creative advantage. 
B)  marketing edge. 
C)  distinctive competency. 
D)  competitive advantage. 
E)  core benefit. 
A)  creative advantage. 
B)  marketing edge. 
C)  distinctive competency. 
D)  competitive advantage. 
E)  core benefit.

Question 18

its business portfolio analysis,an organization's SBUs often start as "__________" and then 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 19

organizational foundation sets the "__________" of organizations; the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Accepted Answer

A)  when; why; what 
B)  why; what; how 
C)  what; how; why 
D)  what; where; how 
E)  how; where; what 
A)  when; why; what 
B)  why; what; how 
C)  what; how; why 
D)  what; where; how 
E)  how; where; what

Question 20

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

Accepted Answer

A)  a reduction in supply chain costs and inventory levels 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 crime. 
E)  a reduction in wasted coverage for advertising messages. 
A)  a reduction in supply chain costs and inventory levels 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 crime. 
E)  a reduction in wasted coverage for advertising messages.

Exam 2: Developing Successful Organizational and Marketing Strategies

Recently,many organizations have added __________ to their mission statements.

Ben & Jerry's sold a line of new "Occupy Ben & Jerry's" T-shirts targeted to college students in the U.S.,it would be using a __________ strategy.

two major aspects of the evaluation phase of the strategic marketing process are

marketing __________ is defined as the means by which a marketing goal is to be achieved,usually characterized by a specified target market and a marketing program to reach it.

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Homemade Ice Cream that help it identify the critical strategy-related factors that could impact the firm.

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a(n)__________ goal.

According to the textbook,all of the following terms can be used interchangeably to refer to entities that engage in business and nonprofit operations EXCEPT:

new company projects that its sales will exceed its expenses within the first year of operation.This is an example of which type of goal?

Often used interchangeably with "vision" a(n)__________ frequently has an inspirational theme.

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."Question marks" are SBUs that are classified as having

Figure 2-2 -According to Figure 2-2 above,what are the three elements that today's visionary organization must do to be forward looking and successful in its marketing environment?

name Netflix was chosen specifically because

Figure 2-10 -question mark (?)represented by the wedge DBC in Figure 2-10 above is the __________.

Figure 2-1 -Using Figure 2-1 above,identify and briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

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

unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation,is referred to as a

its business portfolio analysis,an organization's SBUs often start as "__________" and then become "__________."

organizational foundation sets the "__________" of organizations; the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

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

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

its business portfolio analysis,an organization's SBUs often start as "" and then become "."

organizational foundation sets the "" of organizations; the organization direction sets the ";" and organizational strategies are concerned with the "__."