Question 1

A key role of the marketing department is to "look outward." This is accomplished by

Accepted Answer

A) allocating financial resources across strategic business units. 
B) communicating the vision of the marketing department forcefully enough to be incorporated into the overall mission of the company. 
C) forming cross-functional teams to help solve the organization's marketing problems. 
D) implementing new accounting methods passed by Congress. 
E) listening to customers,developing and producing offerings,and implementing marketing program activities. 
A) allocating financial resources across strategic business units. 
B) communicating the vision of the marketing department forcefully enough to be incorporated into the overall mission of the company. 
C) forming cross-functional teams to help solve the organization's marketing problems. 
D) implementing new accounting methods passed by Congress. 
E) listening to customers,developing and producing offerings,and implementing marketing program activities.

Question 2

A nongovernmental organization that serves its customers but does not have profit as an organizational goal is referred to as a

Accepted Answer

A) business firm. 
B) nonprofit organization. 
C) subchapter S corporation. 
D) cooperative. 
E) social service agency. 
A) business firm. 
B) nonprofit organization. 
C) subchapter S corporation. 
D) cooperative. 
E) social service agency.

Question 3

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Accepted Answer

A) innovation group. 
B) business consortium. 
C) tactical group. 
D) SWOT team. 
E) cross-functional team. 
A) innovation group. 
B) business consortium. 
C) tactical group. 
D) SWOT team. 
E) cross-functional team.

Question 4

In terms of an organization's business,railroads 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 5

The 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

Question 6

What is the marketing term for aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action?

Accepted Answer

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

Question 7

Organizational strategies vary in two ways,depending on

Accepted Answer

A) (1)the strategy's level in the organization and (2)the offerings an organization provides to its customers. 
B) (1)the corporate level and (2)the SBU level in the organization. 
C) whether an offering is (1)a product)or (2)a service. 
D) whether they are (1)mission statements or (2)core values. 
E) (1)the organizational culture and (2)its core values. 
A) (1)the strategy's level in the organization and (2)the offerings an organization provides to its customers. 
B) (1)the corporate level and (2)the SBU level in the organization. 
C) whether an offering is (1)a product)or (2)a service. 
D) whether they are (1)mission statements or (2)core values. 
E) (1)the organizational culture and (2)its core values.

Question 8

A strategic business unit (SBU)refers to

Accepted Answer

A) a single product or service identification code used to identify items for strategic marketing planning purposes. 
B) a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals. 
C) a strategic product that has a unique brand,size,or price. 
D) a privately owned franchise under the auspices of a larger group or organization bearing the same name. 
E) a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers. 
A) a single product or service identification code used to identify items for strategic marketing planning purposes. 
B) a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals. 
C) a strategic product that has a unique brand,size,or price. 
D) a privately owned franchise under the auspices of a larger group or organization bearing the same name. 
E) a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers.

Question 9

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."Question marks" are located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant 
A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant

Question 10

The actions taken during the implementation phase of the strategic marketing process include: (1)obtain resources; (2)design the marketing organization; (3)__________;and (4)execute the marketing program.

Accepted Answer

A) position the product 
B) select target markets 
C) define precise tasks,responsibilities,and deadlines 
D) find points of difference 
E) develop the budget by estimating revenues,expenses,and profits 
A) position the product 
B) select target markets 
C) define precise tasks,responsibilities,and deadlines 
D) find points of difference 
E) develop the budget by estimating revenues,expenses,and profits

Question 11

Strategy refers to

Accepted Answer

A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
B) an organization's corporate tactical or action plan. 
C) statements of an accomplishment of a task to be achieved by a certain time. 
D) a statement of the organization's function in society,often identifying its customers,markets,product,and technologies. 
E) a road map for the entire organization for a specified future period of time,such as one or five years. 
A) an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals. 
B) an organization's corporate tactical or action plan. 
C) statements of an accomplishment of a task to be achieved by a certain time. 
D) a statement of the organization's function in society,often identifying its customers,markets,product,and technologies. 
E) a road map for the entire organization for a specified future period of time,such as one or five years.

Question 12

The key to all scheduling techniques is to

Accepted Answer

A) avoid scheduling tasks that can be done concurrently. 
B) avoid tasks that must be done sequentially. 
C) make sure to allow a 20 percent delay factor to account for contingencies. 
D) assign responsibility for end results to the entire group rather than a single individual. 
E) distinguish tasks that must be done sequentially from those that can be done concurrently. 
A) avoid scheduling tasks that can be done concurrently. 
B) avoid tasks that must be done sequentially. 
C) make sure to allow a 20 percent delay factor to account for contingencies. 
D) assign responsibility for end results to the entire group rather than a single individual. 
E) distinguish tasks that must be done sequentially from those that can be done concurrently.

Question 13

Describe the three levels in an organization.

Accepted Answer

The three levels are: (1)the corporate l

Question 14

Profit refers to

Accepted Answer

A) the point at which a company's assets equal its liabilities plus shareholder equity. 
B) the difference between the list and final price of a product or service. 
C) the money earned when the economic order quantity is minimized. 
D) the money left over after a business firm's total expenses are subtracted from its total revenues. 
E) the total amount of revenue accrued through product sales or service distribution. 
A) the point at which a company's assets equal its liabilities plus shareholder equity. 
B) the difference between the list and final price of a product or service. 
C) the money earned when the economic order quantity is minimized. 
D) the money left over after a business firm's total expenses are subtracted from its total revenues. 
E) the total amount of revenue accrued through product sales or service distribution.

Question 15

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 located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant 
A) upper left quadrant 
B) upper right quadrant 
C) center of the four quadrants 
D) lower right quadrant 
E) lower left quadrant

Question 16

Motorola invented the Six Sigma program that sets as a goal no more than one defect in one million parts manufactured.This is an example of a(n)__________ goal.

Accepted Answer

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

Question 17

Name and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals

Question 18

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 that explain the variety of surfaces available and what uses each has. 
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 that explain the variety of surfaces available and what uses each has. 
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 19

In Figure 2-4 shown above,SBUs found in quadrant "D" 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 20

The 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).

Exam 2: Developing Successful Organizational and Marketing Strategies

A key role of the marketing department is to "look outward." This is accomplished by

A nongovernmental organization that serves its customers but does not have profit as an organizational goal is referred to as a

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

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

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

What is the marketing term for aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action?

Organizational strategies vary in two ways,depending on

A strategic business unit (SBU)refers to

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."Question marks" are located in which quadrant of the BCG growth-share matrix?

The actions taken during the implementation phase of the strategic marketing process include: (1)obtain resources; (2)design the marketing organization; (3)__________;and (4)execute the marketing program.

Strategy refers to

The key to all scheduling techniques is to

Describe the three levels in an organization.

Profit refers to

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 located in which quadrant of the BCG growth-share matrix?

Motorola invented the Six Sigma program that sets as a goal no more than one defect in one million parts manufactured.This is an example of a(n)__________ goal.

Name and briefly describe the seven types of organizational goals or objectives.

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?

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

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

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

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