Question 1

A marketing plan is developed during which phase of the strategic marketing process?

Accepted Answer

A) implementation 
B) control 
C) development 
D) planning 
E) evaluation 
A) implementation 
B) control 
C) development 
D) planning 
E) evaluation

Question 2

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 3

Two 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

Question 4

Explain what a visionary organization is and the three questions ("why," "what," and "how")that need to be answered that formulate its strategies.

Accepted Answer

Management experts stress that to be suc

Question 5

In Figure 2-2 above,"B" represents the "what" element of visionary organization.This is referred to as __________.

Accepted Answer

A) organizational tactics 
B) organizational mission 
C) organizational foundation 
D) organizational direction 
E) organizational strategies 
A) organizational tactics 
B) organizational mission 
C) organizational foundation 
D) organizational direction 
E) organizational strategies

Question 6

Diversification refers to the marketing strategy of

Accepted Answer

A) increasing sales of current products in current markets. 
B) selling current products to new markets. 
C) selling new products to new markets. 
D) selling new products to current markets. 
E) selling the same brands in both current and new markets. 
A) increasing sales of current products in current markets. 
B) selling current products to new markets. 
C) selling new products to new markets. 
D) selling new products to current markets. 
E) selling the same brands in both current and new markets.

Question 7

The strategic marketing process involves three phases: planning,implementation,and

Accepted Answer

A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction. 
A) review. 
B) execution. 
C) evaluation. 
D) goal revision. 
E) correction.

Question 8

Men's Wearhouse (MW)caters to the man who doesn't necessarily enjoy shopping.Its stores are located in shopping centers so that customers can get in and out quickly.Additionally,the MW targets the budget-conscious consumer with suit prices ranging from $150 to $850.The location of its stores and its pricing strategy both are part of MW's

Accepted Answer

A) competitive advantage. 
B) core values. 
C) core benefit proposition. 
D) marketing edge. 
E) viable mission. 
A) competitive advantage. 
B) core values. 
C) core benefit proposition. 
D) marketing edge. 
E) viable mission.

Question 9

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

Accepted Answer

A) defining precise tasks,responsibilities,and deadlines. 
B) executing the marketing program. 
C) designing the marketing organization. 
D) conducting R&D. 
E) obtaining resources. 
A) defining precise tasks,responsibilities,and deadlines. 
B) executing the marketing program. 
C) designing the marketing organization. 
D) conducting R&D. 
E) obtaining resources.

Question 10

One 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 or 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 or cash users in the future. 
E) identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings.

Question 11

The 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."Stars" 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 12

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 13

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

Accepted Answer

A) opened new franchises exclusively in pre-built structures in order to save natural resources. 
B) invested in research to create genetically engineered cows that will produce more hypoallergenic milk. 
C) believed that "people should get their fair share of the pie" and as a result practices Fair Trade-certified sourcing. 
D) limited its advertising to online media to prevent paper waste and save the rainforests from deforestation. 
E) will package its next line of bulk ice cream in glass containers that not only keep the ice cream colder but are recyclable as well. 
A) opened new franchises exclusively in pre-built structures in order to save natural resources. 
B) invested in research to create genetically engineered cows that will produce more hypoallergenic milk. 
C) believed that "people should get their fair share of the pie" and as a result practices Fair Trade-certified sourcing. 
D) limited its advertising to online media to prevent paper waste and save the rainforests from deforestation. 
E) will package its next line of bulk ice cream in glass containers that not only keep the ice cream colder but are recyclable as well.

Question 14

The number one consumer complaint about bananas is how soon they start getting brown spots.Dole MOST LIKELY set a(n)__________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm)to make a creamy,guilt-free dessert.

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 15

The term marketing strategy is used to address both the __________ and the __________.

Accepted Answer

A) product groupings;target markets 
B) target market;marketing program 
C) subjective;objective 
D) revenues generated;market share achieved 
E) feasibility;time required to implement 
A) product groupings;target markets 
B) target market;marketing program 
C) subjective;objective 
D) revenues generated;market share achieved 
E) feasibility;time required to implement

Question 16

In its business portfolio analysis,an organization's SBUs often start as "__________" and eventually 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 17

Business firms pursue several different types of goals.A(n)__________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Accepted Answer

A) customer satisfaction 
B) shareholder 
C) profit minimization 
D) social responsibility 
E) employee welfare 
A) customer satisfaction 
B) shareholder 
C) profit minimization 
D) social responsibility 
E) employee welfare

Question 18

Which of the following statements about strategy is MOST ACCURATE?

Accepted Answer

A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets. 
B) The marketing department helps to both set an organization's direction and move it there. 
C) The American Marketing Association (AM
A) recently has established the definition of strategy. 
D) Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards. 
E) Only start-up organizations must develop strategies to help them (1)raise capital and (2)focus and direct their efforts to accomplish their goals. 
A) An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets. 
B) The marketing department helps to both set an organization's direction and move it there. 
C) The American Marketing Association (AM
A) recently has established the definition of strategy. 
D) Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards. 
E) Only start-up organizations must develop strategies to help them (1)raise capital and (2)focus and direct their efforts to accomplish their goals.

Question 19

Searching out,using,and training reputable medical device distributors across Asia to call on cardiologists and medical clinics 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 20

The corporate level refers to the level in an organization where top management

Accepted Answer

A) develops marketing strategies and tactics for the marketing department to implement. 
B) directs overall strategy for the entire organization. 
C) executes all marketing program actions to ensure consistency of performance. 
D) develops overall sales projections not only for the short term but also for a period of at least two to five years. 
E) supervises the hiring,firing,and training of all marketing department personnel. 
A) develops marketing strategies and tactics for the marketing department to implement. 
B) directs overall strategy for the entire organization. 
C) executes all marketing program actions to ensure consistency of performance. 
D) develops overall sales projections not only for the short term but also for a period of at least two to five years. 
E) supervises the hiring,firing,and training of all marketing department personnel.

Exam 2: Developing Successful Organizational and Marketing Strategies

A marketing plan is developed during which phase of the strategic marketing process?

The strategic business unit level

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

Explain what a visionary organization is and the three questions ("why," "what," and "how")that need to be answered that formulate its strategies.

In Figure 2-2 above,"B" represents the "what" element of visionary organization.This is referred to as __________.

Diversification refers to the marketing strategy of

The strategic marketing process involves three phases: planning,implementation,and

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

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

The 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."Stars" are SBUs that are classified as having

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

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

The term marketing strategy is used to address both the __________ and the __________.

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

Business firms pursue several different types of goals.A(n)__________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Which of the following statements about strategy is MOST ACCURATE?

Searching out,using,and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of Medtronic's

The corporate level refers to the level in an organization where top management

Creating Customer Relationships and Value Through Marketing

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

Filters

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

The term marketing strategy is used to address both the and the .

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