Question 1

An organization's core values

Accepted Answer

A)   are developed by cross-functional teams for all levels of an organization.
B)   are important to the founders but rarely motivate a firm's stakeholders.
C)   change as an organization's offerings change.
D)   guide the organization's conduct.
E)   cannot be separated from the financial realities of that organization.F) A) and D)
G) C) and D)

Question 2

American Express, the credit card and travel organization, 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 ________ goals this firm has established for itself as a corporate citizen.

Accepted Answer

A)   unit sales
B)   market share
C)   sales revenue
D)   customer satisfaction
E)   social responsibilityF) B) and C)
G) None of the above

Question 3

Market segmentation is a part of what step in the strategic marketing process?

Accepted Answer

A)   situation analysis
B)   market-product focus, customer value proposition, and goals
C)   marketing program
D)   implementation
E)   evaluationF) B) and E)
G) C) and D)

Question 4

Julio printed 70 t-shirts for a political rally on campus. His costs to buy the shirts and have them printed were $500. He planned to sell them for $15 each, for a total of $1050. If he sold them all, what would his profit be?

Accepted Answer

A)   $500
B)   $1050
C)   $1550
D)   $550
E)   $1000F) D) and E)
G) A) and B)

Question 5

The Boston Consulting Group uses ________ to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs)  or offerings 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 analysisF) A) and E)
G) A) and B)

Question 6

Which statement regarding stakeholders is most accurate?

Accepted Answer

A)   Employees are typically not classified as a stakeholder group because they are internal to the organization.
B)   There are only three types of stakeholders: customers, suppliers, and distributors.
C)   All stakeholders are internal to the organization.
D)   Stakeholders are a varied group; all are in some way affected by how well a company performs.
E)   Stakeholders are only those that have an ownership stake in an organization.F) A) and B)
G) A) and C)

Question 7

Market penetration refers to the marketing strategy of

Accepted Answer

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

Question 8

Strategic business units (SBUs)  with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as

Accepted Answer

A)   turkeys.
B)   cash cows.
C)   stars.
D)   question marks.
E)   dogs.F) C) and D)
G) None of the above

Question 9

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.F) B) and E)
G) A) and E)

Question 10

Statements of an accomplishment of a task to be achieved, often by a specific time are

Accepted Answer

A)   plans.
B)   procedures.
C)   strategies.
D)   core values.
E)   goals.F) A) and E)
G) B) and C)

Question 11

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a ________ strategy.

Accepted Answer

A)   product development
B)   market development
C)   market penetration
D)   diversification
E)   market saturationF) C) and E)
G) A) and C)

Question 12

Figure 2-7
-Consider Figure 2-7 above. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in a loss of power. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. The company would have to rely on another firm to manufacture and package the survival kits. This production issue would fall in which quadrant(s)  of the SWOT analysis grid?

Accepted Answer

A)   A
B)   B
C)   C
D)   D
E)   both C and DF) None of the above
G) All of the above

Question 13

A situation analysis refers to

Accepted Answer

A)   taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
B)   an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment.
C)   the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
D)   a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments.
E)   the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.F) A) and B)
G) A) and C)

Question 14

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are

Accepted Answer

A)   marketing plans.
B)   marketing programs.
C)   marketing tactics.
D)   marketing strategies.
E)   marketing procedures.F) C) and D)
G) A) and C)

Question 15

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is the ________ level.

Accepted Answer

A)   marketing department
B)   strategic business unit
C)   corporate
D)   functional
E)   board of directorsF) A) and B)
G) A) and C)

Question 16

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.F) B) and E)
G) A) and B)

Question 17

The second phase of the strategic marketing process is the ________ phase.

Accepted Answer

A)   tactics
B)   strategic
C)   planning
D)   implementation
E)   evaluationF) A) and B)
G) A) and C)

Question 18

Figure 2-10
-Which task shown in Figure 2-10 above must be done sequentially rather than concurrently?

Accepted Answer

A)   1 and 2
B)   2 and 3
C)   3 and 4
D)   5 and 6
E)   6 and 7F) A) and B)
G) B) and C)

Question 19

________ convert an organization's mission and business into long- and short-term performance targets.

Accepted Answer

A)   Plans
B)   Tactics
C)   Strategies
D)   Goals
E)   VisionsF) None of the above
G) A) and E)

Question 20

Which two marketing strategies would be used if a firm were not willing to find new markets?

Accepted Answer

A)   Product development and market penetration
B)   Product development and diversification
C)   Market development and product development
D)   Market development and market penetration
E)   Market development and diversificationF) B) and C)
G) C) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

Which two marketing strategies would be used if a firm were not willing to find new markets?

Correct Answer
verified

The purpose of business portfolio analysis is to

Correct Answer
verified

Correct Answer
verified

Strategic business units (SBUs) with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as

Correct Answer
verified

Statements of an accomplishment of a task to be achieved, often by a specific time are

Correct Answer
verified

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a ________ strategy.

Correct Answer
verified

An organization's core values

Correct Answer
verified

Which statement regarding stakeholders is most accurate?

Correct Answer
verified

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is the ________ level.

Correct Answer
verified

A situation analysis refers to

Correct Answer
verified

The Boston Consulting Group uses ________ to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings as though they were a collection of separate investments.

Correct Answer
verified

The second phase of the strategic marketing process is the ________ phase.

Correct Answer
verified

Figure 2-10 -Which task shown in Figure 2-10 above must be done sequentially rather than concurrently?

Correct Answer
verified

Julio printed 70 t-shirts for a political rally on campus. His costs to buy the shirts and have them printed were $500. He planned to sell them for $15 each, for a total of $1050. If he sold them all, what would his profit be?

Correct Answer
verified

Correct Answer
verified

________ convert an organization's mission and business into long- and short-term performance targets.

Correct Answer
verified

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are

Correct Answer
verified

Market segmentation is a part of what step in the strategic marketing process?

Correct Answer
verified

Market penetration refers to the marketing strategy of

Correct Answer
verified

Within the corporate level of an organization, top management

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Which two marketing strategies would be used if a firm were not willing to find new markets?

Correct AnswerverifiedShow Answer

The purpose of business portfolio analysis is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Strategic business units (SBUs) with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are

Correct AnswerverifiedShow Answer

If Ben & Jerry's sold more units of its Chocolate Chip Cookie Dough super premium ice cream to U.S. consumers as a result of increased promotion while keeping its price per pint the same, it would be using a ________ strategy.

Correct AnswerverifiedShow Answer

An organization's core values

Correct AnswerverifiedShow Answer

Which statement regarding stakeholders is most accurate?

Correct AnswerverifiedShow Answer

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is the ________ level.

Correct AnswerverifiedShow Answer

A situation analysis refers to

Correct AnswerverifiedShow Answer

The Boston Consulting Group uses ________ to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings as though they were a collection of separate investments.

Correct AnswerverifiedShow Answer

The second phase of the strategic marketing process is the ________ phase.

Correct AnswerverifiedShow Answer

Figure 2-10 -Which task shown in Figure 2-10 above must be done sequentially rather than concurrently?

Correct AnswerverifiedShow Answer

Julio printed 70 t-shirts for a political rally on campus. His costs to buy the shirts and have them printed were $500. He planned to sell them for $15 each, for a total of $1050. If he sold them all, what would his profit be?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

________ convert an organization's mission and business into long- and short-term performance targets.

Correct AnswerverifiedShow Answer

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are

Correct AnswerverifiedShow Answer

Market segmentation is a part of what step in the strategic marketing process?

Correct AnswerverifiedShow Answer

Market penetration refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Within the corporate level of an organization, top management

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified