Question 1

Ben & Jerry's starts selling its ice cream in China for the first time,it will be using a __________ strategy.

Accepted Answer

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

Question 2

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,is referred to as __________.

Accepted Answer

A)  tactical planning 
B)  market planning 
C)  goal setting 
D)  environmental scanning 
E)  situation analysis 
A)  tactical planning 
B)  market planning 
C)  goal setting 
D)  environmental scanning 
E)  situation analysis

Question 3

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Accepted Answer

A)  "The IBM Way." 
B)  "Smarter Planet." 
C)  "Reinvent Business." 
D)  "The 2015 Road Map." 
E)  "Big Blue." 
A)  "The IBM Way." 
B)  "Smarter Planet." 
C)  "Reinvent Business." 
D)  "The 2015 Road Map." 
E)  "Big Blue."

Question 4

the famous "Marketing Myopia" article,__________ argues that senior managers of 20th century American railroads defined their business too narrowly.

Accepted Answer

A)  Earl Bakken 
B)  Benjamin Greenfield 
C)  Reed Hastings 
D)  Theodore Levitt 
E)  Steven Jobs 
A)  Earl Bakken 
B)  Benjamin Greenfield 
C)  Reed Hastings 
D)  Theodore Levitt 
E)  Steven Jobs

Question 5

Figure 2-5
-image depicted in Figure 2-5 above represents what strategic analysis technique?

Accepted Answer

A)  Gantt chart 
B)  SWOT analysis 
C)  Pert chart 
D)  BCG growth-share matrix 
E)  diversification analysis 
A)  Gantt chart 
B)  SWOT analysis 
C)  Pert chart 
D)  BCG growth-share matrix 
E)  diversification analysis

Question 6

Which of the following statements would most likely be heard at the functional level of an organization?

Accepted Answer

A)  "We need to understand what our business model is." 
B)  "How much money can we allot to the marketing department?" 
C)  "Make sure we buy a 30-second TV spot for the upcoming Super Bowl." 
D)  "We should hire the most culturally diverse cross-functional team possible in order to generate the best new-product ideas." 
E)  "What are the projected sales figures for the next five years?" 
A)  "We need to understand what our business model is." 
B)  "How much money can we allot to the marketing department?" 
C)  "Make sure we buy a 30-second TV spot for the upcoming Super Bowl." 
D)  "We should hire the most culturally diverse cross-functional team possible in order to generate the best new-product ideas." 
E)  "What are the projected sales figures for the next five years?"

Question 7

approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as (the)

Accepted Answer

A)  tactical marketing process. 
B)  situational analysis. 
C)  diversification analysis. 
D)  synergy analysis. 
E)  strategic marketing process. 
A)  tactical marketing process. 
B)  situational analysis. 
C)  diversification analysis. 
D)  synergy analysis. 
E)  strategic marketing process.

Question 8

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 9

___________ for American Red Cross is "to provide relief to victims of disasters and help prevent,prepare for,and respond to emergencies."

Accepted Answer

A)  core benefit proposition 
B)  business definition 
C)  sustainability doctrine 
D)  mission statement 
E)  core value proposition 
A)  core benefit proposition 
B)  business definition 
C)  sustainability doctrine 
D)  mission statement 
E)  core value proposition

Question 10

organization's foundation can be broken into three key elements.They are

Accepted Answer

A)  products, services, and ideas. 
B)  business definition, long-term goals, and short-term objectives. 
C)  board of directors, top management, and stakeholders. 
D)  corporate-level strategies, SBU-level strategies, and functional-level strategies. 
E)  core values, mission/vision, and organizational culture. 
A)  products, services, and ideas. 
B)  business definition, long-term goals, and short-term objectives. 
C)  board of directors, top management, and stakeholders. 
D)  corporate-level strategies, SBU-level strategies, and functional-level strategies. 
E)  core values, mission/vision, and organizational culture.

Question 11

__________ element of the marketing mix includes personal selling and sales promotion.

Accepted Answer

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

Question 12

are the three steps involved in the planning phase of the strategic marketing process?

Accepted Answer

A)  Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program 
B)  Step 1: planning; Step 2: implementation; and Step 3: evaluation 
C)  Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product 
D)  Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization 
E)  Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it? 
A)  Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program 
B)  Step 1: planning; Step 2: implementation; and Step 3: evaluation 
C)  Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product 
D)  Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization 
E)  Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?

Question 13

terms __________ and a mission statement are often used interchangeably.

Accepted Answer

A)  idea 
B)  objective 
C)  vision 
D)  goal 
E)  protocol 
A)  idea 
B)  objective 
C)  vision 
D)  goal 
E)  protocol

Question 14

highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

Accepted Answer

A)  the corporate executive overseer. 
B)  the chief executive officer. 
C)  the corporate executive official. 
D)  the chief marketing officer. 
E)  the coordinating executive officer. 
A)  the corporate executive overseer. 
B)  the chief executive officer. 
C)  the corporate executive official. 
D)  the chief marketing officer. 
E)  the coordinating executive officer.

Question 15

Figure 2-5
-Quadrant "D" 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 16

Offering a Champion brand heart pacemaker with features needed by Asian patients is an example of Medtronic's

Accepted Answer

A)  market segmentation and targeting strategy 
B)  price strategy 
C)  place strategy 
D)  promotion strategy 
E)  product/service strategy 
A)  market segmentation and targeting strategy 
B)  price strategy 
C)  place strategy 
D)  promotion strategy 
E)  product/service strategy

Question 17

3 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)  diversification analysis. 
B)  the situation (SWOT) analysis. 
C)  the marketing program. 
D)  the market-product focus and goal setting. 
E)  business portfolio analysis. 
A)  diversification analysis. 
B)  the situation (SWOT) analysis. 
C)  the marketing program. 
D)  the market-product focus and goal setting. 
E)  business portfolio analysis.

Question 18

Ben & Jerry's Marketing Dashboard (Dollar Sales)
-marketing manager for Ben and Jerry's has been provided with a marketing dashboard display shown above.She notices that dollar sales for 2011 were $240 million and in 2012 they were $250 million.What was the formula used to calculate the dollar sales for each of these two years?

Accepted Answer

A)  Dollar sales ($) = average price multiplied by quantity manufactured. 
B)  Dollar sales ($) = average cost of goods sold minus fixed costs. 
C)  Dollar sales ($) = average price minus shrinkage rate. 
D)  Dollar sales ($) = average price multiplied by quantity sold. 
E)  Dollar sales ($) = average cost of goods sold minus variable costs. 
A)  Dollar sales ($) = average price multiplied by quantity manufactured. 
B)  Dollar sales ($) = average cost of goods sold minus fixed costs. 
C)  Dollar sales ($) = average price minus shrinkage rate. 
D)  Dollar sales ($) = average price multiplied by quantity sold. 
E)  Dollar sales ($) = average cost of goods sold minus variable costs.

Question 19

situation analysis requires a firm to consider the external forces and trends that affect it.Some of these may be favorable to the organization while others may be unfavorable.Which of the following is an example of an external force?

Accepted Answer

A)  The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution. 
B)  A hiring freeze is put into place. Although no one is fired, no one can be hired. 
C)  A goal is set to close the gap between production costs and profits. 
D)  A local government requires that all businesses within the city limits must recycle or be fined. 
E)  Shareholders are rewarded with a sizeable dividend check. 
A)  The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution. 
B)  A hiring freeze is put into place. Although no one is fired, no one can be hired. 
C)  A goal is set to close the gap between production costs and profits. 
D)  A local government requires that all businesses within the city limits must recycle or be fined. 
E)  Shareholders are rewarded with a sizeable dividend check.

Question 20

organization's mission refers to

Accepted Answer

A)  the target goal it sets for current profits. 
B)  the target objective it projects for future market share. 
C)  the fundamental, passionate, and enduring principles that guide its conduct over time. 
D)  specific strategies and tactics that will be used to counteract any advantages of competitors. 
E)  a statement of the organization's functions in society that identifies its customers, markets, products, and technologies. 
A)  the target goal it sets for current profits. 
B)  the target objective it projects for future market share. 
C)  the fundamental, passionate, and enduring principles that guide its conduct over time. 
D)  specific strategies and tactics that will be used to counteract any advantages of competitors. 
E)  a statement of the organization's functions in society that identifies its customers, markets, products, and technologies.

Exam 2: Developing Successful Organizational and Marketing Strategies

Ben & Jerry's starts selling its ice cream in China for the first time,it will be using a __________ strategy.

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,is referred to as __________.

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

the famous "Marketing Myopia" article,__________ argues that senior managers of 20th century American railroads defined their business too narrowly.

Figure 2-5 -image depicted in Figure 2-5 above represents what strategic analysis technique?

Which of the following statements would most likely be heard at the functional level of an organization?

approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as (the)

marketing program-step 3 in the strategic planning process-answers which question?

___________ for American Red Cross is "to provide relief to victims of disasters and help prevent,prepare for,and respond to emergencies."

organization's foundation can be broken into three key elements.They are

__________ element of the marketing mix includes personal selling and sales promotion.

are the three steps involved in the planning phase of the strategic marketing process?

terms __________ and a mission statement are often used interchangeably.

highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

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

Offering a Champion brand heart pacemaker with features needed by Asian patients is an example of Medtronic's

3 in the planning phase of the strategic marketing process consists of

situation analysis requires a firm to consider the external forces and trends that affect it.Some of these may be favorable to the organization while others may be unfavorable.Which of the following is an example of an external force?

organization's mission refers to

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 famous "Marketing Myopia" article,__________ argues that senior managers of 20^th century American railroads defined their business too narrowly.