Question 1

Figure 2-7
-Quadrant "B" in Figure 2-7 above represents a(n)__________ in a SWOT analysis.

Accepted Answer

A)  Threat 
B)  Weakness 
C)  Strength 
D)  Opportunity 
E)  Market segment 
A)  Threat 
B)  Weakness 
C)  Strength 
D)  Opportunity 
E)  Market segment

Question 2

the 20th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

Accepted Answer

A)  transportation 
B)  transcontinental shipping 
C)  passenger travel 
D)  product delivery 
E)  air cargo 
A)  transportation 
B)  transcontinental shipping 
C)  passenger travel 
D)  product delivery 
E)  air cargo

Question 3

Figure 2-6
-Using Figure 2-6,identify and describe the three steps ("A," "B," and "C")of the planning phase of the strategic marketing process.

Accepted Answer

Cell "A": Situation (SWOT)analysis-is an

Question 4

of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Accepted Answer

A)  Netflix announced it would split the firm into two divisions, one that focused on delivering DVDs by mail (Quikster) and the other that streamed them over the Internet (Netflix). 
B)  Netflix delivered movies by mail in VHS cassette format. 
C)  Netflix eventually delivered movies over the Internet. 
D)  Netflix established a partnership with DirecTV, a satellite television provider, to deliver movies over its network. 
E)  Netflix cancelled its plan to separate its business into two divisions as a result of customer backlash and negative media criticism. 
A)  Netflix announced it would split the firm into two divisions, one that focused on delivering DVDs by mail (Quikster) and the other that streamed them over the Internet (Netflix). 
B)  Netflix delivered movies by mail in VHS cassette format. 
C)  Netflix eventually delivered movies over the Internet. 
D)  Netflix established a partnership with DirecTV, a satellite television provider, to deliver movies over its network. 
E)  Netflix cancelled its plan to separate its business into two divisions as a result of customer backlash and negative media criticism.

Question 5

Figure 2-5
-Quadrant "A" in Figure 2-5 above 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 6

Which of the following statements regarding an organization's strategic business unit level is most accurate?

Accepted Answer

A)  The strategic business unit level is the level that works most directly with an organization's targeted customers. 
B)  The overall strategy for the organization is directed at the strategic business unit level. 
C)  In more complex organizations, the corporate level and the strategic business unit level may merge. 
D)  More end-user analysis is provided at the strategic business unit level than at the functional level. 
E)  The strategic direction is more specific at the strategic business unit level than at the corporate level. 
A)  The strategic business unit level is the level that works most directly with an organization's targeted customers. 
B)  The overall strategy for the organization is directed at the strategic business unit level. 
C)  In more complex organizations, the corporate level and the strategic business unit level may merge. 
D)  More end-user analysis is provided at the strategic business unit level than at the functional level. 
E)  The strategic direction is more specific at the strategic business unit level than at the corporate level.

Question 7

organization's core values are the fundamental,passionate,and enduring principles that guide its conduct over time.To be effective,they must be supported by

Accepted Answer

A)  competitors. 
B)  senior management. 
C)  suppliers. 
D)  resellers. 
E)  government regulators. 
A)  competitors. 
B)  senior management. 
C)  suppliers. 
D)  resellers. 
E)  government regulators.

Question 8

Figure 2-5
-Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Accepted Answer

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

Question 9

of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Accepted Answer

A)  research the organization's present and prospective customers. 
B)  determine what business the organization is in. 
C)  assess the organization itself. 
D)  identify trends in the organization's industry. 
E)  analyze the organization's competitors. 
A)  research the organization's present and prospective customers. 
B)  determine what business the organization is in. 
C)  assess the organization itself. 
D)  identify trends in the organization's industry. 
E)  analyze the organization's competitors.

Question 10

Railroad Photo
-railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

Accepted Answer

In his famous "Marketing Myopia" article

Question 11

& Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the Company

Accepted Answer

A)  with the goal of generating enough revenue to be a completely nonprofit organization. 
B)  on a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees. 
C)  with the goal of making profits for selected charitable organizations such as Fair Trade. 
D)  with the goal of increasing market share not only in ice cream sales but also in its retail clothing and accessories merchandise lines. 
E)  with the goal of expanding into international markets by developing sustainable dairies for developing nations. 
A)  with the goal of generating enough revenue to be a completely nonprofit organization. 
B)  on a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees. 
C)  with the goal of making profits for selected charitable organizations such as Fair Trade. 
D)  with the goal of increasing market share not only in ice cream sales but also in its retail clothing and accessories merchandise lines. 
E)  with the goal of expanding into international markets by developing sustainable dairies for developing nations.

Question 12

of the following are examples of stakeholders EXCEPT:

Accepted Answer

A)  government 
B)  competitors 
C)  shareholders 
D)  suppliers 
E)  customer 
A)  government 
B)  competitors 
C)  shareholders 
D)  suppliers 
E)  customer

Question 13

Aggregating prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)  market aggregation 
B)  market segmentation 
C)  product segmentation 
D)  product grouping 
E)  mass marketing 
A)  market aggregation 
B)  market segmentation 
C)  product segmentation 
D)  product grouping 
E)  mass marketing

Question 14

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc.,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Accepted Answer

A)  Buy ads in all the major trade journals aimed at businesses in the entertainment and/or sports industry. 
B)  Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
C)  Design a sample ad and test it using visitors at a trade show. 
D)  Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces. 
E)  Conduct a focus group to decide on which surface to use for a theme park in Brazil. 
A)  Buy ads in all the major trade journals aimed at businesses in the entertainment and/or sports industry. 
B)  Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths. 
C)  Design a sample ad and test it using visitors at a trade show. 
D)  Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces. 
E)  Conduct a focus group to decide on which surface to use for a theme park in Brazil.

Question 15

marketing,an offering refers to

Accepted Answer

A)  the formal designation of a publicly-traded stock for a specific product, service or idea. 
B)  a thing of value between buyer and seller so that each is better off after an exchange between them. 
C)  a product, service, or idea that creates value for both the organization and its customers by satisfying customer needs and wants. 
D)  the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers. 
E)  the service suppliers and distributors provide to help manufacturers bring a product to market. 
A)  the formal designation of a publicly-traded stock for a specific product, service or idea. 
B)  a thing of value between buyer and seller so that each is better off after an exchange between them. 
C)  a product, service, or idea that creates value for both the organization and its customers by satisfying customer needs and wants. 
D)  the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers. 
E)  the service suppliers and distributors provide to help manufacturers bring a product to market.

Question 16

Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units.What are the strengths and weakness of this model?

Accepted Answer

The primary strength of business portfol

Question 17

marketing,an organization refers to

Accepted Answer

A)  a legal entity 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 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 18

Which of the following statements regarding diversification analysis is most accurate?

Accepted Answer

A)  Companies should only use diversification analysis if they are well-established; new companies that use this process run the risk of trying to do too much too soon. 
B)  For any product, there is both a current and a new market and for any market, there is both a current and a new product. 
C)  Most companies discover that there is at least one product that is targeted to the wrong market. 
D)  Diversification analysis is only effective for consumer products. 
E)  Diversification analysis is used to forecast and calculate industry sales for new products. 
A)  Companies should only use diversification analysis if they are well-established; new companies that use this process run the risk of trying to do too much too soon. 
B)  For any product, there is both a current and a new market and for any market, there is both a current and a new product. 
C)  Most companies discover that there is at least one product that is targeted to the wrong market. 
D)  Diversification analysis is only effective for consumer products. 
E)  Diversification analysis is used to forecast and calculate industry sales for new products.

Question 19

Figure 2-7
-Quadrant "C" in Figure 2-7 above represents a(n)__________ in a SWOT analysis.

Accepted Answer

A)  Threat 
B)  Weakness 
C)  Strength 
D)  Opportunity 
E)  Market segment 
A)  Threat 
B)  Weakness 
C)  Strength 
D)  Opportunity 
E)  Market segment

Question 20

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

Exam 2: Developing Successful Organizational and Marketing Strategies

Figure 2-7 -Quadrant "B" in Figure 2-7 above represents a(n)__________ in a SWOT analysis.

the 20th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

Figure 2-6 -Using Figure 2-6,identify and describe the three steps ("A," "B," and "C")of the planning phase of the strategic marketing process.

of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Figure 2-5 -Quadrant "A" in Figure 2-5 above represents the marketing strategy of __________.

Which of the following statements regarding an organization's strategic business unit level is most accurate?

organization's core values are the fundamental,passionate,and enduring principles that guide its conduct over time.To be effective,they must be supported by

Figure 2-5 -Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Railroad Photo -railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

& Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the Company

of the following are examples of stakeholders EXCEPT:

Aggregating prospective buyers into groups that (1)have common needs and (2)will respond similarly to a marketing action is referred to as __________.

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc.,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

marketing,an offering refers to

Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units.What are the strengths and weakness of this model?

marketing,an organization refers to

Which of the following statements regarding diversification analysis is most accurate?

Figure 2-7 -Quadrant "C" in Figure 2-7 above represents a(n)__________ in a SWOT analysis.

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

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

the 20^th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

Railroad Photo -railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20^th century? What business is a railroad firm really in? Why?

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