Question 1

A small businesswoman was preparing her staff for the upcoming holiday season. Her women's apparel retail store has had a great year - sales and profits were up 20 percent. In a meeting with her sales staff before opening the store on Black Friday, the day after Thanksgiving, she said, "We want to move as much inventory as possible. Not only can we highlight our holiday items, why don't we also mark down some of our other seasonal items while people are in a shopping mood?" From this statement, she is concerned with a __________ goal.

Accepted Answer

A)  profit
B)  sales
C)  market share
D)  customer satisfaction
E)  survivalF) B) and C)
G) A) and C)

Question 2

Figure 2-2
-According to Figure 2-2 above, what are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment?

Accepted Answer

Management experts stress that to be suc...

Question 3

Which of the following is NOT an example of an industry?

Accepted Answer

A)  the computer industry
B)  the automobile industry
C)  the landscaping industry
D)  the government industry
E)  the television programming industryF) A) and B)
G) A) and C)

Question 4

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Accepted Answer

A)  "The IBM Way."
B)  "Smarter Planet."
C)  "Reinvent Business."
D)  "The 2015 Road Map."
E)  "Big Blue."F) A) and B)
G) D) and E)

Question 5

The Ben & Jerry's website states: "Central to the mission of Ben & Jerry's is the belief that all three parts [product mission, economic mission, social mission] must thrive equally in a manner that commands deep respect for individuals in and outside the company and supports the communities of which they are a part." This statement reflects Ben & Jerry's

Accepted Answer

A)  sustainability doctrine.
B)  goals and objectives.
C)  core values.
D)  moral distinctives.
E)  functional strategy.F) A) and B)
G) C) and E)

Question 6

Core values refer to

Accepted Answer

A)  the cultural ethos of an organization.
B)  proprietary values of a firm.
C)  written mission statements that express an organization's goals and objectives.
D)  the personal moral and ethical codes of a firm's stakeholders.
E)  the fundamental, passionate, and enduring principles that guide an organization's conduct over timeF) D) and E)
G) B) and D)

Question 7

Hasbro is a $4-plus billion toy company that prides itself on donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a(n)

Accepted Answer

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

Question 8

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give one example of each.

Accepted Answer

A marketing program should include produ...

Question 9

A campus service organization annually raises money through the sale of T-shirts. How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Accepted Answer

Market segmentation involves aggregating...

Question 10

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

Accepted Answer

A)  dogs; question marks
B)  question marks; stars
C)  stars; question marks
D)  stars; dogs
E)  question marks; dogsF) None of the above
G) A) and E)

Question 11

An industry refers to

Accepted Answer

A)  organizations that develop similar offerings.
B)  organizations who manufacture identical products to meet ISO 9000 specifications.
C)  companies that are active in the production of materials that are used in finished products.
D)  a group of people or firms united through strategic alliances.
E)  the economic activity concerned with the selling of finished products to wholesalers and retailers.F) B) and C)
G) B) and E)

Question 12

Points of difference refer to

Accepted Answer

A)  the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
B)  the cluster of benefits that an organization promises customers to satisfy their needs.
C)  a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
D)  those characteristics of a product that make it superior to competitive substitutes.
E)  the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm.F) C) and D)
G) A) and E)

Question 13

When using a __________ strategy, there is no change in either the basic product line or the markets served. Instead, increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Accepted Answer

A)  product development
B)  market development
C)  diversification
D)  market saturation
E)  market penetrationF) A) and E)
G) C) and E)

Question 14

Offering a Champion brand heart pacemaker with only the features needed by Asian patients is an example of Medtronic's

Accepted Answer

A)  evaluation strategy.
B)  price strategy.
C)  place strategy.
D)  promotion strategy.
E)  product/service strategy.F) A) and D)
G) C) and E)

Question 15

Diversification 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.F) C) and E)
G) A) and D)

Question 16

A marketing plan is developed during which phase of the strategic marketing process?

Accepted Answer

A)  implementation
B)  control
C)  development
D)  planning
E)  evaluationF) A) and C)
G) A) and E)

Question 17

A key role of the marketing department is to "look outward." This is accomplished by

Accepted Answer

A)  allocating financial resources across strategic business units.
B)  communicating the vision of the marketing department forcefully enough to be incorporated into the overall mission of the company.
C)  forming cross-functional teams to help solve the organization's marketing problems.
D)  implementing new accounting methods passed by Congress.
E)  listening to customers, developing and producing offerings, and implementing marketing program activities.F) None of the above
G) A) and E)

Question 18

The corporate level in an organization is where

Accepted Answer

A)  the department heads direct overall strategy for the entire organization.
B)  groups of specialists actually create value for the organization.
C)  a small number of people from different departments are mutually accountable to accomplish a task or a common set of performance goals.
D)  a subsidiary, division, or unit of an organization markets a set of related offerings to a clearly defined group of customers.
E)  top management directs overall strategy for the entire organization.F) A) and D)
G) A) and E)

Question 19

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development)  at the __________ level, where groups of specialists actually create value for the organization.

Accepted Answer

A)  strategic
B)  corporate
C)  functional
D)  business unit
E)  compartmentalF) B) and E)
G) A) and B)

Question 20

Designing a car is expensive and time-consuming even with the use of computers because of the difficulty of getting all the varied departments that are to work together. Mercedes-Benz created a unique centralized web-based system that cuts the design and production process by at least two years, thus providing customer value. This is an example of a(n)

Accepted Answer

A)  point of similarity.
B)  innovation-oriented mission.
C)  action program.
D)  operational goal implementation.
E)  competency.F) A) and B)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct Answer
verified

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the __________ level, where groups of specialists actually create value for the organization.

Correct Answer
verified

Correct Answer
verified

Figure 2-2 -According to Figure 2-2 above, what are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment?

Correct Answer
verified
Management experts stress that to be suc...
View Answer

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct Answer
verified
A marketing program should include produ...
View Answer

Offering a Champion brand heart pacemaker with only the features needed by Asian patients is an example of Medtronic's

Correct Answer
verified

A marketing plan is developed during which phase of the strategic marketing process?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

An industry refers to

Correct Answer
verified

Points of difference refer to

Correct Answer
verified

A key role of the marketing department is to "look outward." This is accomplished by

Correct Answer
verified

The corporate level in an organization is where

Correct Answer
verified

Core values refer to

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts. How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

Diversification refers to the marketing strategy of

Correct Answer
verified

Which of the following is NOT an example of an industry?

Correct Answer
verified

When using a __________ strategy, there is no change in either the basic product line or the markets served. Instead, increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Correct Answer
verified

Correct Answer
verified

Hasbro is a $4-plus billion toy company that prides itself on donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a(n)

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct AnswerverifiedShow Answer

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the __________ level, where groups of specialists actually create value for the organization.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 2-2 -According to Figure 2-2 above, what are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment?

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct AnswerverifiedA marketing program should include produ...View AnswerShow Answer

Offering a Champion brand heart pacemaker with only the features needed by Asian patients is an example of Medtronic's

Correct AnswerverifiedShow Answer

A marketing plan is developed during which phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An industry refers to

Correct AnswerverifiedShow Answer

Points of difference refer to

Correct AnswerverifiedShow Answer

A key role of the marketing department is to "look outward." This is accomplished by

Correct AnswerverifiedShow Answer

The corporate level in an organization is where

Correct AnswerverifiedShow Answer

Core values refer to

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts. How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct AnswerverifiedMarket segmentation involves aggregating...View AnswerShow Answer

Diversification refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Which of the following is NOT an example of an industry?

Correct AnswerverifiedShow Answer

When using a __________ strategy, there is no change in either the basic product line or the markets served. Instead, increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Hasbro is a $4-plus billion toy company that prides itself on donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a(n)

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified
A marketing program should include produ...
View Answer

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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