Question 1

A road map for the marketing activities of an organization for a specified future time period,such as one year or five years,is referred to as a __________.

Accepted Answer

A) business plan 
B) marketing objective 
C) marketing plan 
D) marketing strategy 
E) marketing program

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

American Express has a long history of working for the good of all in its New York community.In 1885,it engaged its employees to help raise money to build the pedestal of the Statue of Liberty.Today,it has a program to help restore,preserve and revitalize historic sites in New York City.These actions by American Express are partial fulfillment of the __________ the firm has established for itself as a corporate citizen.

Accepted Answer

A) unit sales goals 
B) market share goals 
C) sales revenue goals 
D) customer satisfaction goals 
E) social responsibility goals

Question 4

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 (SBUs)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 (SBUs)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 5

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 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 6

In general,a visionary organization asks what three types of questions to specify its foundation,set a direction,and formulate strategies?

Accepted Answer

A) why,when,where 
B) what,by whom,how 
C) how,when,where 
D) why,what,how 
E) who,why,when

Question 7

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."Cash cows" 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

Question 8

Product development refers to the marketing strategy of

Accepted Answer

A) increasing sales of current products in current markets. 
B) selling current products to new markets. 
C) selling new products to new markets. 
D) selling new products to current markets. 
E) selling the same brands in both current and new markets.

Question 9

List the three steps of the planning phase of the strategic marketing process.Briefly describe what goes on during each of the three steps.

Accepted Answer

The answer of List the three steps of the planning...

Question 10

Several years ago,the Honda Motor Company unveiled the hybrid version of the Honda Civic.While the hybrid vehicles are very fuel efficient,they are also very expensive to purchase.Hybrid vehicles sales have increased over 570 percent with a compound annual growth rate of 88.6%.Sales of the Civic eventually surpassed those of the Toyota Prius,making it the number one hybrid car in the U.S.For years,Honda has experienced tremendous success with their Accords-in fact,these Honda cars are the top-selling automobiles in the U.S.Where would the Honda Civic (hybrid version)and the Honda Accord fall in the BCG business portfolio analysis matrix?

Accepted Answer

A) The hybrid Civic is a star;the Accord is a cash cow. 
B) The hybrid Civic is a cash cow;the Accord is a star. 
C) Due to the overwhelming success of Honda cars,both the Accord and the hybrid Civic are cash cows. 
D) The hybrid Civic is a hedgehog;the Accord is a cash cow. 
E) The hybrid Civic is a dog;the Accord is a star.

Question 11

Evergreen Air Center is the world's biggest parking lot for unwanted aircraft.Airlines pay a monthly fee from $750 to $5,000 to mothball their unneeded airplanes at this site.Its location is on 1,600 acres of Arizona desert near Tucson.The Southwest climate of dry,warm air serves as a cheap and effective airplane preservative against rust.Evergreen's location is a(n)

Accepted Answer

A) competency. 
B) sustainable advantage. 
C) competitive identity. 
D) core benefit proposition. 
E) innovative distinction.

Question 12

The term that encompasses and organization's employees,shareholders,board of directors,suppliers,distributors,creditors,unions,government,local communities,and customers is referred to as its

Accepted Answer

A) stakeholders. 
B) stockholders. 
C) competitors. 
D) target audience. 
E) organizational society.

Question 13

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

Accepted Answer

A) cash cows 
B) question marks 
C) dogs 
D) hedgehogs 
E) stars

Question 14

Figure 2-6
-Using Figure 2-6 above,identify and describe the three steps ("A," "B," and "C")of the planning phase of the strategic marketing process.

Accepted Answer

The answer of  Figure 2-6
-Using Figure 2-6 above,identify and...

Question 15

An organization's core values are most effective when communicated to and supported by

Accepted Answer

A) competitors. 
B) top management and employees. 
C) suppliers. 
D) resellers. 
E) government regulators.

Question 16

Consider the photo above of Apple's iPad Air.In 2010,Steve Jobs once again revolutionized an industry when Apple launched the iPad.Unit sales reached an astonishing 40 percent market share by 2013-leading both Samsung's Galaxy (18 percent)and Amazon's Kindle (4 percent).Global tablet unit sales are expected to more than double by 2016 as consumers continue to switch from desktop and laptop PCs to tablet devices,with Apple still the projected market share leader.Recently,Apple introduced the 4th generation iPad (renamed the iPad Air)and upgraded its iPad mini.Currently,Apple's iPad SBU appears to be a __________.

Accepted Answer

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

Question 17

In a marketing context,goal setting involves setting measurable __________ to be achieved.

Accepted Answer

A) marketing metrics 
B) marketing objectives 
C) marketing tactics 
D) marketing plans 
E) protocols

Question 18

"HowAboutWe is the fastest,easiest,most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.

Accepted Answer

A) sustainability doctrine 
B) core benefit proposition 
C) corporate philosophy 
D) mission statement 
E) code of ethics

Question 19

Teach for America works to solve which societal problem?

Accepted Answer

A) It provides new college graduates as teachers in urban and rural public schools in the U.S. 
B) It works to end corneal blindness worldwide by finding cornea donors and creating tissue banks. 
C) It provides education and small business loans to women in impoverished areas so that they can help themselves. 
D) It offers free rehabilitation services for injured U.S.veterans returning from overseas conflict. 
E) It offers tax credits to small businesses to employ at-risk youth in their communities.

Question 20

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Accepted Answer

A) corporate level. 
B) functional level. 
C) directive level. 
D) strategic level. 
E) tactical level.

Exam 2: Developing Successful Organizational and Marketing Strategies