Question 1

A strategic business unit (SBU) refers to

Accepted Answer

A)  a single product or service identification code used to identify items for strategic marketing planning purposes.
B)  a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals.
C)  a strategic product that has a unique brand,size,or price.
D)  a privately owned franchise under the auspices of a larger group or organization bearing the same name.
E)  a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers.F) B) and D)
G) A) and E)

Question 2

The number one consumer complaint about bananas is how soon they start getting brown spots.Dole MOST LIKELY set a(n) __________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm) to make a creamy,guilt-free dessert.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  social responsibilityF) A) and C)
G) A) and D)

Question 3

A mission statement includes all of the following elements EXCEPT:

Accepted Answer

A)  short-term.
B)  inspirational.
C)  clear.
D)  meaningful.
E)  concise.F) A) and E)
G) A) and D)

Question 4

The name Netflix was chosen specifically because

Accepted Answer

A)  it sounded new and fashionable.
B)  it ended in the letter "x," which causes a word to have an "edge" to it.
C)  the company knew that it would eventually deliver movies over the Internet.
D)  hidden within the name is the word "next," implying a forward looking company.
E)  it rhymed with "best-picks" and alluded to both quality and the visual aspects of its service.F) None of the above
G) B) and E)

Question 5

A competitive advantage refers to

Accepted Answer

A)  the cluster of benefits that an organization promises customers to satisfy their needs.
B)  those characteristics of a product that make it superior to competitive substitutes.
C)  a unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation.
D)  actions taken by a firm with the sole intent of putting a competitor out of business.
E)  the cluster of benefits that an organization promises customers to satisfy their needsF) C) and D)
G) B) and E)

Question 6

A measure of the quantitative value or trend of a marketing activity or result is referred to as

Accepted Answer

A)  trend analysis.
B)  a marketing measurement.
C)  a marketing dashboard.
D)  a marketing metric.
E)  value analysis.F) B) and E)
G) B) and D)

Question 7

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The vertical axis of this matrix indicates

Accepted Answer

A)  the annual rate of growth of the firm's largest competitor.
B)  the relative dollar ($) market share of the largest competitor.
C)  the annual rate of growth of the SBU's industry.
D)  the relative unit (#) market share of the largest competitor.
E)  the annual rate of growth of the firm itself.F) C) and E)
G) C) and D)

Question 8

A marketing dashboard refers to

Accepted Answer

A)  a "report card" prepared by the marketing department regarding its performance in terms of environmental and social responsibility.
B)  the display of information found on a car's dashboard.
C)  an "app" that uses a car navigation device metaphorically to indicate the specific direction in which a company wishes to grow based on its annual marketing plan.
D)  information about an organization's marketing metrics presented graphically so marketers can quickly spot deviations from plans and take corrective actions.
E)  the visual computer display of the essential information related to achieving a marketing objective.F) B) and E)
G) A) and B)

Question 9

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Accepted Answer

The evaluation phase of the strategic ma...

Question 10

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

Accepted Answer

A)  chief executive officer.
B)  corporate marketing official.
C)  coordinating marketing officer.
D)  chief marketing officer.
E)  corporate marketing executive.F) A) and E)
G) B) and D)

Question 11

The terms __________ and a mission statement are often used interchangeably.

Accepted Answer

A)  idea
B)  objective
C)  vision
D)  goal
E)  protocolF) B) and C)
G) B) and D)

Question 12

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)  diversificationF) B) and C)
G) B) and D)

Question 13

George Zimmer,the CEO of Men's Wearhouse,is known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring,"You'll like the way you look,I Guarantee it!" He also says that to be successful,"You've got to have a company that starts with trust and fairness." He aims to keep his employees happy and loyal.Zimmer is attempting to establish a(n) ___________ for Men's Wearhouse.

Accepted Answer

A)  ethos
B)  mission statement
C)  organizational culture
D)  pathos
E)  behavioral protocolF) A) and B)
G) D) and E)

Question 14

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; objectiveF) A) and B)
G) B) and C)

Question 15

All of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Accepted Answer

A)  Netflix announced a pricing change that separated DVDs by mail and online offerings.
B)  Netflix began offering downloadable movies for sale at $9.99 each.
C)  Netflix created a subscription service to receive its DVDs through the mail.
D)  Netflix established partnerships with TiVo and Xbox to enable viewing of streaming content.
E)  Netflix cancelled its plan to separate its business into two divisions as a result of customer backlash and negative media criticism.F) B) and C)
G) B) and E)

Question 16

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Accepted Answer

A)  target marketing
B)  business portfolio analysis
C)  synergy analysis
D)  market-product grids
E)  diversification analysisF) A) and B)
G) A) and C)

Question 17

Medtronic is the world leader in producing heart pacemakers and other medical devices.Earl Bakken,Medtronic's founder,wrote its mission statement when he launched the firm over a half century ago.Summarize Medtronic's mission statement and comment as to why it is a good one.

Accepted Answer

Medtronic's mission statement reads: "To...

Question 18

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The horizontal axis of this matrix indicates

Accepted Answer

A)  the annual rate of growth of the SBU's industry.
B)  the relative dollar ($) market share of the largest competitor.
C)  the annual rate of growth of the firm's largest competitor.
D)  the relative unit (#) market share of the smallest competitor.
E)  the annual rate of growth of the firm itself.F) C) and E)
G) A) and B)

Question 19

In keeping with its business mission,Ben & Jerry's

Accepted Answer

A)  created a children's TV program with cat and mouse cartoon characters "Ben" and "Jerry" to teach about the importance of good nutrition and Fair Trade sustainable business practices.
B)  offered to buy out any failing family-owned ice cream parlor and turn it into a ScoopShop franchise.
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk.
D)  committed to buying its milk and cream from a dairy cooperative that guarantees the supplies are bovine growth hormone free.
E)  donated free ice cream coupons to all children who get good grades in school.F) A) and D)
G) B) and E)

Question 20

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) __________; and (4) what is to be delivered.

Accepted Answer

A)  the budget
B)  the points of difference
C)  the promotional message
D)  the date to finish the task
E)  the product or serviceF) A) and D)
G) A) and C)

Exam 2: Developing Successful Marketing and Organizational Strategies

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

Correct Answer
verified

A strategic business unit (SBU) refers to

Correct Answer
verified

All of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Correct Answer
verified

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) __________; and (4) what is to be delivered.

Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
verified

A marketing dashboard refers to

Correct Answer
verified

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct Answer
verified
The evaluation phase of the strategic ma...
View Answer

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

In keeping with its business mission,Ben & Jerry's

Correct Answer
verified

A mission statement includes all of the following elements EXCEPT:

Correct Answer
verified

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Correct Answer
verified

Medtronic is the world leader in producing heart pacemakers and other medical devices.Earl Bakken,Medtronic's founder,wrote its mission statement when he launched the firm over a half century ago.Summarize Medtronic's mission statement and comment as to why it is a good one.

Correct Answer
verified
Medtronic's mission statement reads: "To...
View Answer

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The horizontal axis of this matrix indicates

Correct Answer
verified

The name Netflix was chosen specifically because

Correct Answer
verified

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The vertical axis of this matrix indicates

Correct Answer
verified

A competitive advantage refers to

Correct Answer
verified

The terms __________ and a mission statement are often used interchangeably.

Correct Answer
verified

A measure of the quantitative value or trend of a marketing activity or result is referred to as

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

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

Correct AnswerverifiedShow Answer

A strategic business unit (SBU) refers to

Correct AnswerverifiedShow Answer

All of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Correct AnswerverifiedShow Answer

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing the task; (3) __________; and (4) what is to be delivered.

Correct AnswerverifiedShow Answer

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Correct AnswerverifiedShow Answer

A marketing dashboard refers to

Correct AnswerverifiedShow Answer

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct AnswerverifiedThe evaluation phase of the strategic ma...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In keeping with its business mission,Ben & Jerry's

Correct AnswerverifiedShow Answer

A mission statement includes all of the following elements EXCEPT:

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Correct AnswerverifiedShow Answer

Medtronic is the world leader in producing heart pacemakers and other medical devices.Earl Bakken,Medtronic's founder,wrote its mission statement when he launched the firm over a half century ago.Summarize Medtronic's mission statement and comment as to why it is a good one.

Correct AnswerverifiedMedtronic's mission statement reads: "To...View AnswerShow Answer

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The horizontal axis of this matrix indicates

Correct AnswerverifiedShow Answer

The name Netflix was chosen specifically because

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix.The vertical axis of this matrix indicates

Correct AnswerverifiedShow Answer

A competitive advantage refers to

Correct AnswerverifiedShow Answer

The terms __________ and a mission statement are often used interchangeably.

Correct AnswerverifiedShow Answer

A measure of the quantitative value or trend of a marketing activity or result is referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The evaluation phase of the strategic ma...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Medtronic's mission statement reads: "To...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified