Question 1

What is a mission?

Accepted Answer

By understanding its core values,an orga

Question 2

small bookstores,and even large ones like Borders and Bookstar,have closed.Subscribers to newspapers and magazines have cancelled their print subscriptions.This trend has caused retailer Barnes & Noble to offer the Nook,a digital e-reader for $99 and newspaper publishers such as the StarTribune to offer online content for $1.99 per week because of the success of Apple's iPad and Amazon's Kindle,which display digital content in a very user-friendly experience.Barnes & Noble and the StarTribune MOST LIKELY had to change their __________,which was(were)triggered by the technological and social changes that occurred in their marketing environments.

Accepted Answer

A)  organizational culture 
B)  marketing tactics 
C)  business model 
D)  strategic marketing process 
E)  goals/objectives 
A)  organizational culture 
B)  marketing tactics 
C)  business model 
D)  strategic marketing process 
E)  goals/objectives

Question 3

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 4

Several years ago,the Honda Motor Company unveiled the hybrid version of the Honda Civic.While the hybrid vehicles are very fuel efficient,they are also very expensive to purchase.Hybrid vehicles sales have increased over 570 percent with a compound annual growth rate of 88.6%.Sales of the Civic eventually overtook those of the Toyota Prius,making it the number one hybrid car in the U.S.For years,Honda has experienced tremendous success with their Accords-in fact,these Honda cars are the top-selling automobiles in the U.S.Where would the Honda Civic (hybrid version)and the Honda Accord fall in the BCG business portfolio analysis matrix?

Accepted Answer

A)  The hybrid Civic is a star; the Accord is a cash cow. 
B)  The hybrid Civic is a cash cow; the Accord is a star. 
C)  Due to the overwhelming success of Honda cars, both the Accord and the hybrid Civic are cash cows. 
D)  The hybrid Civic is a hedgehog; the Accord is a cash cow. 
E)  The hybrid Civic is a dog; the Accord is a star. 
A)  The hybrid Civic is a star; the Accord is a cash cow. 
B)  The hybrid Civic is a cash cow; the Accord is a star. 
C)  Due to the overwhelming success of Honda cars, both the Accord and the hybrid Civic are cash cows. 
D)  The hybrid Civic is a hedgehog; the Accord is a cash cow. 
E)  The hybrid Civic is a dog; the Accord is a star.

Question 5

fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

Accepted Answer

A)  core values 
B)  strategic goals 
C)  vision 
D)  corporate culture 
E)  corporate ethos 
A)  core values 
B)  strategic goals 
C)  vision 
D)  corporate culture 
E)  corporate ethos

Question 6

terms of an organization's business,railroads may have 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)  defined their business too broadly. 
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)  defined their business too broadly. 
D)  priced their services too high. 
E)  were simply an outmoded form of transportation.

Question 7

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

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 (TBUs). 
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 (TBUs).

Question 8

Figure 2-3
-According to Figure 2-3 above,the image shown is an example of a(n)

Accepted Answer

A)  Gantt chart. 
B)  marketing dashboard. 
C)  Pert chart. 
D)  marketing gauge. 
E)  operations spreadsheet. 
A)  Gantt chart. 
B)  marketing dashboard. 
C)  Pert chart. 
D)  marketing gauge. 
E)  operations spreadsheet.

Question 9

__________ element of the marketing mix includes discounts and allowances.

Accepted Answer

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

Question 10

Points of difference refer to

Accepted Answer

A)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time. 
B)  the cluster of benefits that an organization promises customers to satisfy their needs. 
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. 
D)  those characteristics of a product that make it superior to competitive substitutes. 
E)  the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm. 
A)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time. 
B)  the cluster of benefits that an organization promises customers to satisfy their needs. 
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. 
D)  those characteristics of a product that make it superior to competitive substitutes. 
E)  the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm.

Question 11

Figure 2-1
-Figure 2-1 above,"A" represents the

Accepted Answer

A)  functional level. 
B)  board of directors. 
C)  corporate level. 
D)  CEO. 
E)  strategic business unit level. 
A)  functional level. 
B)  board of directors. 
C)  corporate level. 
D)  CEO. 
E)  strategic business unit level.

Question 12

campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Accepted Answer

Market segmentation involves aggregating

Question 13

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 (SBUs) 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 (SBUs) 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 14

Which of the following statements regarding stakeholders is most accurate?

Accepted Answer

A)  Employees are typically not classified as a stakeholder group. 
B)  There are only three types of external stakeholders-customers, suppliers, and distributors. 
C)  All stakeholders are internal to the organization. 
D)  Stakeholders are in some way affected by how well a company performs. 
E)  Stakeholders are impacted by, but have no real impact on, how well a company performs. 
A)  Employees are typically not classified as a stakeholder group. 
B)  There are only three types of external stakeholders-customers, suppliers, and distributors. 
C)  All stakeholders are internal to the organization. 
D)  Stakeholders are in some way affected by how well a company performs. 
E)  Stakeholders are impacted by, but have no real impact on, how well a company performs.

Question 15

keeping with its business mission,Ben & Jerry's has

Accepted Answer

A)  created a children's TV program with cat and mouse cartoon characters "Ben" and "Jerry" to teach them about the importance of good nutrition and Fair Trade sustainable business practices. 
B)  offered to buy out any failing family-owned ice cream parlor and turn it into a ScoopShop franchise. 
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk. 
D)  donated free ice cream coupons to all children who get good grades in school. 
E)  created "Goodbye Yellow Brickle Road" ice cream in partnership with Sir Elton John to help his worldwide AIDS Foundation. 
A)  created a children's TV program with cat and mouse cartoon characters "Ben" and "Jerry" to teach them about the importance of good nutrition and Fair Trade sustainable business practices. 
B)  offered to buy out any failing family-owned ice cream parlor and turn it into a ScoopShop franchise. 
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk. 
D)  donated free ice cream coupons to all children who get good grades in school. 
E)  created "Goodbye Yellow Brickle Road" ice cream in partnership with Sir Elton John to help his worldwide AIDS Foundation.

Question 16

Figure 2-4
-Figure 2-4 shown above,SBUs found in quadrant "B" would be called __________.

Accepted Answer

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

Question 17

firms seek to maximize __________ to obtain as high a financial return on their investments (ROI)as possible.

Accepted Answer

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

Question 18

Figure 2-10
-Based on the information in Figure 2-10 above,the planning gap between 2003 and 2012,as represented by the wedge DBC,__________.

Accepted Answer

A)  is widening 
B)  is narrowing 
C)  is staying the same 
D)  cannot be determined 
E)  actually began in 1998 
A)  is widening 
B)  is narrowing 
C)  is staying the same 
D)  cannot be determined 
E)  actually began in 1998

Question 19

third phase of the strategic marketing process is the __________.

Accepted Answer

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

Question 20

marketing strategy of developing new products and selling them in new markets is referred to as

Accepted Answer

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

What is a mission?

corporate level in an organization is where

fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

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

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

Figure 2-3 -According to Figure 2-3 above,the image shown is an example of a(n)

__________ element of the marketing mix includes discounts and allowances.

Points of difference refer to

Figure 2-1 -Figure 2-1 above,"A" represents the

campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

strategic marketing process

Which of the following statements regarding stakeholders is most accurate?

keeping with its business mission,Ben & Jerry's has

Figure 2-4 -Figure 2-4 shown above,SBUs found in quadrant "B" would be called __________.

firms seek to maximize __________ to obtain as high a financial return on their investments (ROI)as possible.

Figure 2-10 -Based on the information in Figure 2-10 above,the planning gap between 2003 and 2012,as represented by the wedge DBC,__________.

third phase of the strategic marketing process is the __________.

marketing strategy of developing new products and selling them in new markets is 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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

Exam 2: Developing Successful Organizational and Marketing Strategies

What is a mission?

corporate level in an organization is where

fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

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

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

Figure 2-3 -According to Figure 2-3 above,the image shown is an example of a(n)

__________ element of the marketing mix includes discounts and allowances.

Points of difference refer to

Figure 2-1 -Figure 2-1 above,"A" represents the

campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

strategic marketing process

Which of the following statements regarding stakeholders is most accurate?

keeping with its business mission,Ben & Jerry's has

Figure 2-4 -Figure 2-4 shown above,SBUs found in quadrant "B" would be called __________.

firms seek to maximize __________ to obtain as high a financial return on their investments (ROI)as possible.

Figure 2-10 -Based on the information in Figure 2-10 above,the planning gap between 2003 and 2012,as represented by the wedge DBC,__________.

third phase of the strategic marketing process is the __________.

marketing strategy of developing new products and selling them in new markets is 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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

Filters

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