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Exam 2: Developing Successful Marketing and Organizational Strategies

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Question 21

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Mission refers to

A) the target goal set by a company regarding future profits.
B) the target goal set by a company regarding future market share.
C) the functional philosophy of a corporation that dictates the behavior of all its employees.
D) specific strategies and tactics that will be used to counteract any advantages of its competitors.
E) a statement of the organization's functions in society, often identifying its customers, markets, products, and technologies.

F) A) and E)
G) None of the above

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Question 22

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While digital photography caused Kodak's traditional film division to quickly move from cash cow to dog, for Kodak's digital camera SBU, the same technology and consumer demand will

A) have little or no affect at all.
B) allow the SBU to remain a star or even become a cash cow.
C) keep the SBU a question mark since there is evidence that during a weak economy fewer people will take pictures, and many fewer will purchase cameras.
D) allow the digital camera SBU to switch back and forth from star to cash cow to star as traditional single lens cameras become virtually obsolete.
E) allow Kodak to plan its withdrawal from the market.

F) A) and B)
G) D) and E)

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Question 23

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The __________ for American Red Cross is "The American Red Cross, a humanitarian organization led by volunteers and guided by its Congressional Charter and the Fundamental Principles of the International Red Cross Movement, will provide relief to victims of disasters and help people prevent, prepare for, and respond to emergencies."

A tool 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 _________.

In its business portfolio analysis, an organization's SBUs often start as __________ and then become _________.

Which of the following statements reflects both of the key elements in developing a marketing strategy for L.M.Schofield, Inc., a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

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

FIGURE 2-12 -Medtronic is the world leader in producing heart pacemakers and other medical devices.Figure 2-12 above is a mural displayed in their headquarters.Earl Bakken, its founder, wrote Medtronic's mission statement when it was launched a half century ago (and which today remains virtually unchanged).Use this figure to describe how the image relates to their corporate mission.

The __________ element of the marketing mix includes features, brand name, packaging, service, and warranty.

FIGURE 2-1 -In Figure 2-1 above, "D" represents the

FIGURE 2-13 -What "business" is a railroad firm in (Figure 2-14 above)? Why?

Which of the following types of test marketing techniques were primarily used in market research for General Mills Warm Delights?

FIGURE 2-7 -See Figure 2-7 above.A small family owned gelato business is the town's favorite place for parents and children to stop on their way home from work or school.However, the business owner is barely making ends meet.He experiments by purchasing a refrigerated cart and takes it to the local ball fields where he sells the gelato to the teams and their fans.Profits begin to rise.This is an example of a __________ strategy that would be found in box _________.

FIGURE 2-6 -means that the SBU has 10 times the share of its largest competitor, whereas a share of 0.1X (at the right end of the scale) means

FIGURE 2-3 -According to Figure 2-3 above, during which year was sales revenue the largest?

SBUs with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

Designing a car is expensive and time-consuming even with the use of computers because until recently there was no way for all the varied departments that are involved in new car development to work together.Daimler-Chrysler created a unique central Web-based system that cuts the design and production process by at least two years, thus providing value to the customer.This is an example of a(n)

When Apple introduced the iPhone it did so to great fanfare.Many corporate users, however, found that it did not sync with their servers; many customers could not download from their company email accounts nor immediately activate their phones.Based on these examples, it would seem that Apple should have adopted more stringent __________ goals prior to the iPhone's release.

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

The Boston Consulting Group's business portfolio analysis model can be used to guide a firm as it tries to change its relative market share (the factor on the horizontal axis).What are the strengths and weakness of this model?