Question 1

A mission statement should be

Accepted Answer

A)   idealistic.
B)   long-term.
C)   fact-based.
D)   complex.
E)   permanent.F) D) and E)
G) A) and E)

Question 2

The __________ element of the marketing mix includes discounts and allowances.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   peopleF) B) and C)
G) B) and D)

Question 3

Strategic business units (SBUs) with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as

Accepted Answer

A)   cash cows.
B)   stars.
C)   question marks.
D)   dogs.
E)   exclamation points.F) A) and E)
G) D) and E)

Question 4

Which of the following statements regarding diversification analysis is most accurate?

Accepted Answer

A)   Companies should only use diversification analysis if they are well-established; new companies that use this process run the risk of trying to do too much too soon.
B)   For any product, there is both a current and a new market; for any market, there is both a current and a new product.
C)   Most companies discover that there is at least one product that is targeted to the wrong market.
D)   Diversification analysis is only effective for consumer products.
E)   Diversification analysis is used to forecast and calculate industry sales for new products.F) B) and D)
G) B) and C)

Question 5

The actions taken during the implementation phase of the strategic marketing process include which of these?

Accepted Answer

A)   obtain resources
B)   select target markets
C)   position the product
D)   find points of difference
E)   correct deviations from expected outcomesF) B) and C)
G) B) and E)

Question 6

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return,for any reason.Guaranteed."

Accepted Answer

A)   competitive advantage
B)   core values
C)   core benefit proposition
D)   customers
E)   mission statementF) All of the above
G) A) and B)

Question 7

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Accepted Answer

A)   designated teams.
B)   strategic business units.
C)   cross-functional teams.
D)   business committees.
E)   venture squads.F) B) and E)
G) A) and B)

Question 8

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 planning phase of the strategic mark...

Question 9

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.F) None of the above
G) A) and D)

Question 10

A marketing strategy to increase sales of current products in current markets is referred to as

Accepted Answer

A)   market penetration.
B)   market development.
C)   product development.
D)   diversification.
E)   marketing synergy.F) A) and D)
G) B) and D)

Question 11

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

Accepted Answer

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

Question 12

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 United States.
B)   It works to educate doctors and patients to end corneal blindness worldwide.
C)   It provides education and small business loans to women in impoverished areas so that they can help themselves.
D)   It offers free training and rehabilitation services for injured U.S. veterans returning from overseas conflict.
E)   It offers tax credits to small businesses to employ undereducated, at-risk youth in their communities.F) A) and B)
G) B) and E)

Question 13

__________ starts new ventures that address important social needs and issues.These new enterprises are often organized as nonprofit organizations.

Accepted Answer

A)   Corporate welfare
B)   A social entrepreneur
C)   Sustainable development
D)   Cause marketing
E)   Societal capitalismF) A) and D)
G) A) and E)

Question 14

Identify and describe the three phases of the strategic marketing process.

Accepted Answer

The three phases of the strategic market...

Question 15

Which of the following statements regarding an organization's core values is most accurate?

Accepted Answer

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

Question 16

The second phase of the strategic marketing process is the

Accepted Answer

A)   tactics phase.
B)   strategic phase.
C)   planning phase.
D)   implementation phase.
E)   evaluation phase.F) A) and D)
G) All of the above

Question 17

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Accepted Answer

A)   innovation group.
B)   business consortium.
C)   tactical group.
D)   SWOT team.
E)   cross-functional team.F) A) and D)
G) None of the above

Question 18

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Accepted Answer

A)   starting the planning process anew.
B)   executing the marketing program.
C)   tracking unit sales and revenues and comparing with competitors.
D)   developing the budget by estimating revenues, expenses, and profits.
E)   exploiting positive deviations and correcting negative ones.F) C) and D)
G) A) and E)

Question 19

__________ have an increasingly important role in top management because of their ability to think strategically,bringing to the job multi-industry backgrounds,cross-functional management expertise,analytical skills,and intuitive marketing insights.

Accepted Answer

A)   Chief marketing officers (CMOs) 
B)   Chief financial officers (CFOs) 
C)   Chief executive officers (CEOs) 
D)   Chief human resource officers (CHROs) 
E)   Chief operating officers (COOs) F) C) and D)
G) D) and E)

Question 20

Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping.Its stores are in free-standing locations (not inside the mall) so customers can get in and out quickly.Additionally,Men's Wearhouse targets the budget-conscious consumer with suit prices ranging from $150 to $850.The location of its stores and its pricing strategy both are part of Men's Wearhouse's

Accepted Answer

A)   competitive advantage.
B)   core values.
C)   core benefit proposition.
D)   marketing edge.
E)   viable mission.F) A) and E)
G) D) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Identify and describe the three phases of the strategic marketing process.

Correct Answer
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The three phases of the strategic market...
View Answer

A marketing strategy to increase sales of current products in current markets is referred to as

Correct Answer
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__________ starts new ventures that address important social needs and issues.These new enterprises are often organized as nonprofit organizations.

Correct Answer
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The actions taken during the implementation phase of the strategic marketing process include which of these?

Correct Answer
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Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Correct Answer
verified

Correct Answer
verified

Teach for America works to solve which societal problem?

Correct Answer
verified

Strategic business units (SBUs) with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as

Correct Answer
verified

A mission statement should be

Correct Answer
verified

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return,for any reason.Guaranteed."

Correct Answer
verified

__________ have an increasingly important role in top management because of their ability to think strategically,bringing to the job multi-industry backgrounds,cross-functional management expertise,analytical skills,and intuitive marketing insights.

Correct Answer
verified

The second phase of the strategic marketing process is the

Correct Answer
verified

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Correct Answer
verified

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

Correct Answer
verified
The planning phase of the strategic mark...
View Answer

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

Correct Answer
verified

Which of the following statements regarding an organization's core values is most accurate?

Correct Answer
verified

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Correct Answer
verified

The __________ element of the marketing mix includes discounts and allowances.

Correct Answer
verified

Which of the following statements regarding diversification analysis is most accurate?

Correct Answer
verified

When evaluations show that actual performance differs from expectations,firms typically attempt to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Identify and describe the three phases of the strategic marketing process.

Correct AnswerverifiedThe three phases of the strategic market...View AnswerShow Answer

A marketing strategy to increase sales of current products in current markets is referred to as

Correct AnswerverifiedShow Answer

__________ starts new ventures that address important social needs and issues.These new enterprises are often organized as nonprofit organizations.

Correct AnswerverifiedShow Answer

The actions taken during the implementation phase of the strategic marketing process include which of these?

Correct AnswerverifiedShow Answer

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Teach for America works to solve which societal problem?

Correct AnswerverifiedShow Answer

Strategic business units (SBUs) with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return,for any reason.Guaranteed."

Correct AnswerverifiedShow Answer

__________ have an increasingly important role in top management because of their ability to think strategically,bringing to the job multi-industry backgrounds,cross-functional management expertise,analytical skills,and intuitive marketing insights.

Correct AnswerverifiedShow Answer

The second phase of the strategic marketing process is the

Correct AnswerverifiedShow Answer

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedThe planning phase of the strategic mark...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding an organization's core values is most accurate?

Correct AnswerverifiedShow Answer

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix includes discounts and allowances.

Correct AnswerverifiedShow Answer

Which of the following statements regarding diversification analysis is most accurate?

Correct AnswerverifiedShow Answer

When evaluations show that actual performance differs from expectations,firms typically attempt to

Correct AnswerverifiedShow Answer

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The three phases of the strategic market...
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The planning phase of the strategic mark...
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