Question 1

Toyota aggressively pushes their suppliers to follow strict delivery and production deadlines, corresponding to their Lean Manufacturing principles, allowing Toyota to have an efficient production line and offer high-value automobiles at cost-effective prices. This competence can give Toyota:

Accepted Answer

A) a competitive advantage. 
B) a tactical innovation. 
C) benchmarking expertise. 
D) leapfrogging capabilities.

Question 2

A marketing strategy is the means by which a marketing goal is to be achieved. Two factors that usually characterizing a marketing strategy are:

Accepted Answer

A) a detailed marketing plan and marketing budget. 
B) specific goals and organizational objectives. 
C) a specified target market and a marketing program to reach it. 
D) marketing strategies and marketing tactics.

Question 3

When a firm decides to double their marketing budget for a product that sells consistently, they are using which strategy:

Accepted Answer

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

Question 4

An example of a private organization that does not seek profit is:

Accepted Answer

A) the Montreal Museum for Fine Arts. 
B) the Toronto Blue Jays. 
C) Industry Canada. 
D) FedEx.

Question 5

Which of the following statements about organizational goals is NOT true?

Accepted Answer

A) The terms goal and objective can be used interchangeably. 
B) In an organization, goals exist at the corporate, business, and functional levels. 
C) Goals are clear, broad descriptions of an organization's offering(s). 
D) All lower-level goals should contribute to the achievement of higher-level goals.

Question 6

Corporate executives and world leaders of each country need to find an ideal balance between protecting its environment and providing its citizens with the additional goods and services necessary to maintain and improve their standard of living. This
Demonstrates a concern for:

Accepted Answer

A) profit margin 
B) corporate culture 
C) sustainable development 
D) strategic direction

Question 7

A television production company was looking for an idea for a new show and
approached Emeril Lagasse, a charismatic chef that frequently appears on the Food Channel. It was decided the production company would build a show based around Lagasse's life. While the casting of the popular Lagasse insured people would watch the first couple shows, poor scripts led to the cancellation of the show. In terms of the SWOT analysis, the casting of Lagasse was a________, and the poor scripts were a ________.

Accepted Answer

A) opportunity; threat 
B) threat; opportunity 
C) strength; weakness 
D) weakness; threat

Question 8

A June 1998 Congressional initiative mandated that the U.S. Department of Transportation (USDOT)establish a national traffic information collection system.
The marketing manager of a company that provided traffic reports for local radio
Stations would most likely incorporate which aspect of this knowledge into its SWOT analysis as:

Accepted Answer

A) a strength if the company has an existing working relationship with the USDOT. 
B) a threat if the company that provides local traffic information has no employees technologically capable of using the USDOT system. 
C) a weakness if the USDOT will give this information directly to the radio stations. 
D) a threat if the USDOT is creating a network of local traffic-information providers to address the mandate.

Question 9

Figure 2-1
 
-In Figure 2-1, "C" represents the

Accepted Answer

A) business-unit strategy level. 
B) corporate-level strategy level. 
C) functional-level strategy level. 
D) Board of Directors.

Question 10

Kraft Foods decides to sell their Mac 'N Cheese product to India, without changing the product formulation or design. Kraft is following which strategy?

Accepted Answer

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

Question 11

Assume McDonald's is engaging in a market development strategy. Which of the following actions best illustrates a market development strategy?

Accepted Answer

A) running a promotion based on the Monopoly game, whereby customers have a chance to win prizes with each purchase 
B) adding a line of new deli sandwiches to the menu of existing McDonald's stores 
C) opening the first McDonald's in China 
D) developing a line of McDonald's toys to be sold through Toys R Us stores

Question 12

PeopleSoft designs, produces, and markets software that enables companies to automate basic human-resources functions such as payroll. At its inception, the company's leaders encouraged employees to get in touch with their feelings. The work environment was laid back, employees' dogs roamed the halls, and sunny days found employees playing Frisbee on the corporate lawns. This is known as:

Accepted Answer

A) environment 
B) corporate profile 
C) corporate philosophy 
D) organizational culture

Question 13

All of the following are often contained in a company's mission statement except:

Accepted Answer

A) beliefs 
B) markets 
C) technology 
D) customers

Question 14

All organizational strategies are influenced by each of the following EXCEPT:

Accepted Answer

A) profit 
B) organizational direction. 
C) offering. 
D) organizational foundation.

Question 15

In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to brink of bankruptcy. The company's share of the U.S. super-heavy-weight market - motorcycles with engine capacity of 850 cubic centimeters or more - collapsed from more than 40 percent in the mid-1970s to 23 percent in 1983. However, by 1989, Harley-Davidson controlled some 65 percent of the U.S. market; and both in
The U.S. and overseas markets, the company won't be able to meet demand for years.
From a marketing perspective, what was the likely first step in Harley-Davidson's resurgence?

Accepted Answer

A) seeking new markets for the motorcycles both in the U.S. and in foreign markets 
B) development of a new mission statement and subsequent marketing strategy 
C) repositioning their product in the minds of motorcycle buyers 
D) performing a SWOT analysis

Question 16

Several years ago, Black & Decker purchased General Electric's small appliances product line. General Electric did not know what to do with the line. Black & Decker purchased the line because it needed the cash infusion from a product line that had a dominant market share. Since people replace small appliances infrequently and
Because many are handed down from parent to child, the industry is a slow-growth
One) From this information and your knowledge about the BCG portfolio analysis, you should know this small appliance line would be classified as a:

Accepted Answer

A) question mark. 
B) cash cow. 
C) dog. 
D) star.

Question 17

Ben & Jerry's is a success story due to its "linked prosperity" strategy based on its three part mission statement that includes all:

Accepted Answer

A) Customer Mission, Product Mission, and Economic Mission. 
B) Product Mission, Economic Mission, Social Mission. 
C) Supplier Mission, Economic Mission, and Customer Mission. 
D) Supplier Mission, Economic Mission, and Social Mission.

Question 18

An approach whereby an organization allocates its marketing mix resources to reach its target markets is known as:

Accepted Answer

A) the calibrated marketing process 
B) the situational marketing process 
C) the strategic marketing process 
D) the developmental market analysis

Question 19

CIBC is focused on earning a profit for employees and shareholders, while also giving back to the community through their CIBC Run For the Cure campaign, this balance of conflicting goals is referred to as.

Accepted Answer

A) market share 
B) sales revenue 
C) return on investment 
D) social responsibility

Question 20

Solarcom is a 25-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment, an industry that is growing worldwide. According to the BCG portfolio matrix, Atlantix Global would most likely be classified as a:

Accepted Answer

A) dog. 
B) star. 
C) question mark. 
D) cash cow.

Exam 2: Developing Successful Marketing Strategies