Question 1

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.

Accepted Answer

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

Question 2

Step 1 in the planning phase of the strategic marketing process involves

Accepted Answer

A) establishing the budget. 
B) developing the marketing program. 
C) setting goals. 
D) auditing the marketing plan. 
E) conducting a situation (SWOT)analysis.

Question 3

The purpose of business portfolio analysis is to

Accepted Answer

A) add or delete product line and brand extensions. 
B) search for growth opportunities from among current and new markets as well as current and new products. 
C) alter a product's characteristic,such as its quality,performance,or appearance,to increase its value to customers and increase sales. 
D) determine which strategic business unit or offering generates cash and which one requires cash to fund the organization's growth opportunities. 
E) seek opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Question 4

The marketing strategy to sell current products to new markets is referred to as

Accepted Answer

A) market penetration. 
B) market infiltration. 
C) market development. 
D) product development. 
E) diversification.

Question 5

A mission statement should be all of these except which?

Accepted Answer

A) Short-term 
B) Inspirational 
C) Clear 
D) Meaningful 
E) Concise

Question 6

Briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

Accepted Answer

The answer of Briefly describe the five levels in a...

Question 7

Identify and explain each of the four market-product strategies represented by each quadrant in the diversification analysis matrix.

Accepted Answer

The answer of Identify and explain each of the four...

Question 8

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

Question 9

Ben & Jerry's Marketing Dashboard (Dollar Sales and Market Share)
 
-Consider the Ben & Jerry's Dollar Sales and Market Share figure here.A marketing manager for Ben & Jerry's notices that dollar sales for 2015 were $240 million and in 2016 they were $250 million.What was the formula used to calculate the dollar sales for each of these two years?

Accepted Answer

A) Dollar sales ($)= Average price × Quantity manufactured in each year. 
B) Dollar sales ($)= Average cost of goods sold − Fixed costs in each year. 
C) Dollar sales ($)= Average price − Shrinkage rate in each year. 
D) Dollar sales ($)= Average price × Quantity sold in each year. 
E) Dollar sales ($)= Average cost of goods sold − Variable costs in each year.

Question 10

A new company projects that its sales will exceed its expenses within the first year of operation.This is an example of which type of goal?

Accepted Answer

A) Dollar sales revenue 
B) Profit 
C) Market share 
D) Unit sales 
E) Quality

Question 11

The ________ element of the marketing mix includes personal selling and advertising.

Accepted Answer

A) product 
B) price 
C) promotion 
D) place 
E) people

Question 12

Organizational culture refers to

Accepted Answer

A) the personal moral and ethical codes of ethics of an organization's top management. 
B) a written statement expressing an organization's goals and objectives to be achieved through enacting a comprehensive strategic plan. 
C) the fundamental,passionate,and enduring principles that guide an organization's conduct over time. 
D) the ethos of an organization that excludes its core values. 
E) a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.

Question 13

Bill McDermott is the CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott is part of the ________ level of his organization.

Accepted Answer

A) business unit 
B) functional 
C) corporate 
D) strategic 
E) tactical

Question 14

A for-profit organization refers to

Accepted Answer

A) a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers. 
B) a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit. 
C) a privately owned organization that serves its customers to earn a profit so that it can survive. 
D) a group of people united through contractual or corporate ownership. 
E) a publicly owned organization that serves the general population.

Question 15

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

Accepted Answer

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

Question 16

Apple's iPod sold more than 50 million units annually until 2010 when the iPhone integrated a music player.Since 2010 sales have been declining dramatically and in October 2014 Apple announced that it was discontinuing the iPod classic.Today Apple still sells three iPod product lines although declining sales and discontinued products suggest that this SBU is may have become a

Accepted Answer

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

Question 17

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.

Question 18

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.Dogs 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 19

What is the difference between a marketing strategy and a marketing tactic?

Accepted Answer

The answer of What is the difference between a marketing...

Question 20

Figure 2-3a
 
-The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Accepted Answer

A) trend analysis. 
B) a marketing measurement. 
C) a marketing gauge. 
D) a marketing metric. 
E) value analysis.

Exam 2: Developing Successful Organizational and Marketing Strategies