Question 1

After examining a planning gap,firms typically attempt to

Accepted Answer

A) decide if the time horizon should be increased or decreased. 
B) perform a SWOT analysis with their major competitor as the principal focus. 
C) use statistical linear trend analysis to interpret the results. 
D) exploit a positive deviation or correct a negative deviation. 
E) adopt a market-product grid to analyze the sales results. 
A) decide if the time horizon should be increased or decreased. 
B) perform a SWOT analysis with their major competitor as the principal focus. 
C) use statistical linear trend analysis to interpret the results. 
D) exploit a positive deviation or correct a negative deviation. 
E) adopt a market-product grid to analyze the sales results.

Question 2

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets. 
A) sell more products at a lower price in new markets. 
B) sell the same amount of product at a higher price in the same market. 
C) find a new market and sell the product at a much higher price. 
D) alter the product and sell it to a new market. 
E) reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.

Question 3

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 the most 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 the most 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 4

The key steps of planning,implementation,and evaluation are part of (the)

Accepted Answer

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

Question 5

__________ argued that senior managers of 20th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

Accepted Answer

A) Earl Bakken 
B) Mark Zuckerberg 
C) Reed Hastings 
D) Theodore Levitt 
E) Steve Jobs 
A) Earl Bakken 
B) Mark Zuckerberg 
C) Reed Hastings 
D) Theodore Levitt 
E) Steve Jobs

Question 6

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

The evaluation phase of the strategic ma

Question 7

The primary purpose of a marketing metric is to

Accepted Answer

A) assign qualitative values to quantitative data. 
B) allow the sharing of information across product lines. 
C) measure the quantitative value of a marketing activity. 
D) forecast potential product/service opportunities over a period of five years. 
E) provide a numerically precise measurement of management judgment for an industry's growth. 
A) assign qualitative values to quantitative data. 
B) allow the sharing of information across product lines. 
C) measure the quantitative value of a marketing activity. 
D) forecast potential product/service opportunities over a period of five years. 
E) provide a numerically precise measurement of management judgment for an industry's growth.

Question 8

Market share refers to

Accepted Answer

A) the ratio of the profit of the firm to the total profits of all firms in the industry,excluding the firm itself. 
B) the ratio of the profit of the firm to the total profits of all firms in the industry,including the firm itself. 
C) the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,excluding the firm itself. 
D) the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself. 
E) the ratio of the profits of all firms in an industry to the profits of the firm. 
A) the ratio of the profit of the firm to the total profits of all firms in the industry,excluding the firm itself. 
B) the ratio of the profit of the firm to the total profits of all firms in the industry,including the firm itself. 
C) the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,excluding the firm itself. 
D) the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself. 
E) the ratio of the profits of all firms in an industry to the profits of the firm.

Question 9

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

Accepted Answer

A) business agencies 
B) nonprofit organizations 
C) subchapter S corporations 
D) cooperatives 
E) social service agencies 
A) business agencies 
B) nonprofit organizations 
C) subchapter S corporations 
D) cooperatives 
E) social service agencies

Question 10

Consider Figure 2-5 above.A family owns a gelato business in a small town square next to a park,which is a favorite place for parents and children to stop on their way home from work to relax or school to play.However,the business owner is barely making ends meet.He experiments by purchasing a refrigerated cart and takes it to the local baseball and softball fields where he sells the gelato to the teams and their fans.Sales of gelato soar and profits begin to rise.This is an example of a __________ strategy that would be found in quadrant __________.

Accepted Answer

A) market penetration;"A" 
B) product development;"B" 
C) product penetration;"B" 
D) market development;"C" 
E) market expansion;"C" 
A) market penetration;"A" 
B) product development;"B" 
C) product penetration;"B" 
D) market development;"C" 
E) market expansion;"C"

Question 11

Based on the information in Figure 2-A 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 quantified 
E) began to open in 1998 
A) is widening 
B) is narrowing 
C) is staying the same 
D) cannot be quantified 
E) began to open in 1998

Question 12

"To contribute to human welfare by application of biomedical engineering in the research,design,manufacture,and sale of instruments or appliances that alleviate pain,restore health,and extend life" is Medtronic's __________.

Accepted Answer

A) core value proposition 
B) corporate culture 
C) functional goal 
D) sustainability doctrine 
E) mission statement 
A) core value proposition 
B) corporate culture 
C) functional goal 
D) sustainability doctrine 
E) mission statement

Question 13

The Boston Consulting Group (BCG)business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs)on a growth-share matrix.The horizontal axis of this matrix indicates

Accepted Answer

A) the annual rate of growth of the SBU's industry. 
B) the relative dollar ($)market share of the largest competitor. 
C) the annual rate of growth of the firm's largest competitor. 
D) the relative unit (#)market share of the smallest competitor. 
E) the annual rate of growth of the firm itself. 
A) the annual rate of growth of the SBU's industry. 
B) the relative dollar ($)market share of the largest competitor. 
C) the annual rate of growth of the firm's largest competitor. 
D) the relative unit (#)market share of the smallest competitor. 
E) the annual rate of growth of the firm itself.

Question 14

At the functional level,the organization's strategic direction becomes

Accepted Answer

A) much more manageable since its offerings have been finalized. 
B) the most specific and most focused in terms of implementing the company's goals. 
C) broader since for less complex firms,the corporate and functional levels may merge. 
D) more general to avoid the "not invented here syndrome" that could result in missed opportunities. 
E) the sole responsibility of the CEO. 
A) much more manageable since its offerings have been finalized. 
B) the most specific and most focused in terms of implementing the company's goals. 
C) broader since for less complex firms,the corporate and functional levels may merge. 
D) more general to avoid the "not invented here syndrome" that could result in missed opportunities. 
E) the sole responsibility of the CEO.

Question 15

Core values refer to

Accepted Answer

A) the cultural ethos of an organization. 
B) proprietary values of a firm. 
C) written mission statements that express an organization's goals and objectives. 
D) the personal moral and ethical codes of a firm's stakeholders. 
E) the fundamental,passionate,and enduring principles that guide an organization's conduct over time. 
A) the cultural ethos of an organization. 
B) proprietary values of a firm. 
C) written mission statements that express an organization's goals and objectives. 
D) the personal moral and ethical codes of a firm's stakeholders. 
E) the fundamental,passionate,and enduring principles that guide an organization's conduct over time.

Question 16

Weight Watchers is a weight-management company with operations in about 30 countries.Consumers buy almost $5 billion of Weight Watchers-branded products each year,and every week approximately 1.3 million people attend Weight Watchers meetings worldwide.The company's brand recognition and meeting infrastructure are difficult for competitors to match,so they provide Weight Watchers with a distinct

Accepted Answer

A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation. 
A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation.

Question 17

The philosophical reason for an organization's existence is referred to as its organizational __________.

Accepted Answer

A) strategy 
B) direction 
C) foundation 
D) goal 
E) business 
A) strategy 
B) direction 
C) foundation 
D) goal 
E) business

Question 18

The Boston Consulting Group (BCG)uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Accepted Answer

A) target marketing 
B) synergy analysis 
C) market-product grids 
D) business portfolio analysis 
E) diversification analysis 
A) target marketing 
B) synergy analysis 
C) market-product grids 
D) business portfolio analysis 
E) diversification analysis

Question 19

Netflix is a company that rents DVD movies either by mail or streams movies over the Internet.It jumped into an industry where there were many competitors from other local and national video stores.Initially,it established a loyal clientele by providing a service that was not available-reliable and fast shipment.Its delivery system created Netflix's

Accepted Answer

A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation. 
A) viable mission. 
B) competitive advantage. 
C) tactical innovation. 
D) core benefit. 
E) sales orientation.

Question 20

List potential stakeholders for the college or university that you attend.

Accepted Answer

Students' answers will vary,but each ans

Exam 2: Developing Successful Organizational and Marketing Strategies

After examining a planning gap,firms typically attempt to

One way a company can benefit from implementing a market penetration strategy would be to

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

The key steps of planning,implementation,and evaluation are part of (the)

__________ argued that senior managers of 20th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

Explain the steps in the evaluation phase of the strategic marketing process.

The primary purpose of a marketing metric is to

Market share refers to

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

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

"To contribute to human welfare by application of biomedical engineering in the research,design,manufacture,and sale of instruments or appliances that alleviate pain,restore health,and extend life" is Medtronic's __________.

The Boston Consulting Group (BCG)business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs)on a growth-share matrix.The horizontal axis of this matrix indicates

At the functional level,the organization's strategic direction becomes

Core values refer to

The philosophical reason for an organization's existence is referred to as its organizational __________.

The Boston Consulting Group (BCG)uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

List potential stakeholders for the college or university that you attend.

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

__________ argued that senior managers of 20^th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.