Question 1

Evergreen Air Center is the world's largest parking lot for unwanted commercial aircraft.Airlines pay from $750 to $5,000 monthly for the storage services provided by Evergreen.Prior to September 2001,the company had 140 discarded airplanes at its Arizona facilities and was growing at a rate of about six planes monthly with about two per month sold for parts or scrap metal.After calamity struck the airline industry in September 2001,airlines retired over 1,000 planes,and the actual number of planes stored at Evergreen differed significantly from its earlier prediction.Evergreen needed a new marketing plan;without one,the company would see a widening of the

Accepted Answer

A)  contribution margin.
B)  planning gap.
C)  marginal trend.
D)  break-even point.
E)  sales differential. B

Question 2

Figure 2-1
 
-In Figure 2-1 above,E represents the ________ that make up the functional level of an organization.

Accepted Answer

A)  board of directors
B)  executives level
C)  hourly employees
D)  production personnel
E)  departments E

Question 3

With a marketing dashboard,a marketing manager may get information in the form of any of these except which?

Accepted Answer

A)  The time frame for which the data are presented
B)  A graph
C)  A table
D)  A printed report
E)  A map D

Question 4

Describe the three strategic levels in an organization.

Accepted Answer

The answer of Describe the three strategic levels in an...

Question 5

A marketing strategy refers to

Accepted Answer

A)  the means by which a marketing goal is to be achieved,usually characterized by a specified target market and a marketing program to reach it.
B)  the tactical decisions made to implement the marketing program.
C)  a technique to quantify performance measures and growth targets of a firm's strategic business units (SBUs) .
D)  a road map for the marketing activities of an organization for a specified future time period,such as one year or five years.
E)  the detailed day-to-day operational decisions.

Question 6

Figure 2-1
 
-In Figure 2-1 above,C represents the ________ of an organization.

Accepted Answer

A)  strategic business unit level
B)  board of directors
C)  corporate level
D)  functional level
E)  CMO

Question 7

In a typical manufacturing firm,the structure of its marketing department is typically organized from top to bottom in which of these ways?

Accepted Answer

A)  CEO to CFO to product manager.
B)  CEO to CMO to product manager.
C)  Product manager to marketing research manager to sales manager to promotion manager.
D)  Industry manager to market manager to product manager.
E)  Product manager to CMO to sales manager.

Question 8

The initial step in the strategic marketing process is to begin planning by conducting a

Accepted Answer

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

Question 9

Compared to marketing strategies,marketing tactics generally involve actions that

Accepted Answer

A)  are detailed day-to-day operational decisions.
B)  are long-term rather than short-term.
C)  involve upper levels of management rather than front-line managers.
D)  are general rather than specific in nature.
E)  have been successfully implemented in the past.

Question 10

The Boston Consulting Group (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.Cash cows 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.

Question 11

A competitive advantage refers to

Accepted Answer

A)  the cluster of benefits that an organization promises customers to satisfy their needs.
B)  those characteristics of a product that make it superior to competitive substitutes.
C)  a unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation.
D)  actions taken by a firm with the sole intent of putting a competitor out of business.
E)  the added value given to a product beyond the functional benefits provided.

Question 12

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.

Question 13

A(n)________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A)  marketing metric
B)  output report
C)  marketing dashboard
D)  information monitor
E)  data interface

Question 14

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination.It should have adopted a more rigorous ________ goal.

Accepted Answer

A)  profit
B)  sales revenue
C)  customer satisfaction
D)  employee welfare
E)  quality

Question 15

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as

Accepted Answer

A)  diversification analysis.
B)  business portfolio analysis.
C)  a market-product grid framework.
D)  synergy analysis.
E)  market segmentation.

Question 16

Figure 2-10
 
-Figure 2-10 above is known as a ________,which is helpful for scheduling activities when some must be completed before others can begin.

Accepted Answer

A)  market-product grid
B)  project schedule
C)  BCG matrix
D)  Gantt chart
E)  sales response function

Question 17

When evaluations show that actual performance differs from expectations,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.

Question 18

Business portfolio analysis refers to

Accepted Answer

A)  a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
B)  a technique that managers use to graphically track their firm's strategic business units as though they were a single expense in order to identify cost-cutting measures.
C)  a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units as though they were a collection of separate investments.
D)  an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm.
E)  a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Question 19

Within the corporate level of an organization,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.

Question 20

The goal of a SWOT analysis is to

Accepted Answer

A)  identify market research questions in order to develop new products for new market segments.
B)  determine how raises,bonuses,and dividends will be paid.
C)  reorganize the firm's marketing department.
D)  identify the critical strategy-related factors that can impact the firm.
E)  fairly allocate governmental resources and financial aid across the industry.

Exam 2: Developing Successful Organizational and Marketing Strategies

Figure 2-1 -In Figure 2-1 above,E represents the ________ that make up the functional level of an organization.