Question 1

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Accepted Answer

A)   Product development
B)   Product-market evolution
C)   Market development
D)   Market penetration
E)   DiversificationF) C) and E)
G) A) and B) E

Question 2

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a

Accepted Answer

A)   business plan.
B)   marketing objective.
C)   marketing plan.
D)   marketing strategy.
E)   marketing program.F) C) and E)
G) A) and C)

Question 3

An organization uses the strategic marketing process to answer all of the following questions except which?

Accepted Answer

A)   "How do our results compare with our plans?"
B)   "How do we allocate our resources to get where we want to go?"
C)   "Where do we want to go?"
D)   "Do deviations require new plans?"
E)   "How do we convert our plans into actions?"F) None of the above
G) C) and E)

Question 4

The strategic marketing process

Accepted Answer

A)   involves 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)   is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
C)   describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
D)   is an approach whereby an organization allocates its marketing mix resources to reach its target markets and achieves a competitive advantage.
E)   seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) B) and D)
G) D) and E)

Question 5

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant B would be called

Accepted Answer

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

Question 6

When a company is developing new offerings, marketing may provide staff to serve as part of __________, joining others from different departments who are mutually accountable to this task.

Accepted Answer

A)   a cross-functional team
B)   a department
C)   a strategic business unit
D)   an organization
E)   a business consortiumF) A) and E)
G) A) and D)

Question 7

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 power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. The firm's physical plant could be refitted relatively easily to make small generators, but it would be rather costly. The company's need to refit its factory would fall in which quadrant(s)  of the SWOT analysis grid?

Accepted Answer

A)   A
B)   B
C)   C
D)   D
E)   both B and DF) C) and E)
G) C) and D)

Question 8

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)   is based solely on company perception rather than actual data.
B)   considers all factors that might impact an SBU's value to an organization.
C)   acts as a strong motivational tool for employees in SBUs that have been labeled "dogs" or "question marks."
D)   forces a firm to place each of its SBUs in the growth-share matrix, which in turn suggests which SBUs will be cash producers or cash users in the future.
E)   identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings.F) A) and E)
G) B) and C)

Question 9

Which statement about strategy is most accurate?

Accepted Answer

A)   An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B)   The marketing department helps to both set an organization's direction and move it there.
C)   The American Marketing Association (AM
A)   recently has established the definition of strategy.
D)   Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E)   Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals.F) B) and E)
G) C) and D)

Question 10

A marketing metric refers to

Accepted Answer

A)   a measure of the quantitative value or trend of a marketing activity or result.
B)   a form of linear trend analysis used to project future profits based on existing marketing plans.
C)   one of a series of mathematical formulas used to calculate potential profits based upon different scenarios of the forces in the marketing environment.
D)   information about an organization's core values and code of ethics so marketers can quickly spot deviations and take corrective actions.
E)   the value of a product in terms of its contribution to employee welfare.F) C) and D)
G) A) and D)

Question 11

The ________ for the American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."

Accepted Answer

A)   core benefit proposition
B)   business definition
C)   sustainability doctrine
D)   mission statement
E)   customer value propositionF) A) and B)
G) A) and E)

Question 12

Which statement reflects 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?

Accepted Answer

A)   Subscribe to all the major trade journals to determine the offerings of competitors.
B)   Communicate with contractors using direct mail about the various walking surfaces Schofield can create for riding and walking paths.
C)   Design a sample ad and test it using visitors at a trade show.
D)   Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces.
E)   Conduct a focus group to decide on which surface to use for a theme park in Brazil.F) D) and E)
G) A) and E) B

Question 13

The philosophical reason for an organization's existence is referred to as its organizational

Accepted Answer

A)   strategy.
B)   direction.
C)   foundation.
D)   goal.
E)   business.F) A) and B)
G) A) and C) C

Question 14

Large organizations are extremely complex, and usually consist of ________ organizational levels overseen by a board of directors.

Accepted Answer

A)   two
B)   three
C)   five
D)   six
E)   seven or moreF) None of the above
G) C) and E)

Question 15

Explain what a planning gap is and what is used to close it.

Accepted Answer

A planning gap is the difference between...

Question 16

The level in an organization where top management directs overall strategy for the entire organization is the ________ level.

Accepted Answer

A)   corporate
B)   functional
C)   directive
D)   strategic
E)   tacticalF) B) and E)
G) A) and B)

Question 17

Figure 2-1
-In Figure 2-1 above, D represents the ________ of an organization that is comprised of individual departments.

Accepted Answer

A)   strategic business unit level
B)   board of directors
C)   corporate level
D)   functional level
E)   CMOF) A) and C)
G) C) and D)

Question 18

Two commonly used techniques to aid managers 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) B) and E)
G) A) and B)

Question 19

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Accepted Answer

Theodore Levitt argues that senior manag...

Question 20

Apple's iPod sold more than 50 million units annually between 2001 and 2010 when the iPhone integrated a music player. Since then sales have been declining dramatically and in 2014 Apple announced that it was discontinuing the iPod classic, and in 2017 it did the same with the nano and the shuffle. Today Apple still sells the iPod touch although declining sales and discontinued products suggest that this SBU is has become a

Accepted Answer

A)   question mark.
B)   star.
C)   ghost.
D)   cash cow.
E)   dog.F) B) and D)
G) C) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Correct Answer
verified
E

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a

Correct Answer
verified

An organization uses the strategic marketing process to answer all of the following questions except which?

Correct Answer
verified

The strategic marketing process

Correct Answer
verified

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant B would be called

Correct Answer
verified

When a company is developing new offerings, marketing may provide staff to serve as part of __________, joining others from different departments who are mutually accountable to this task.

Correct Answer
verified

Correct Answer
verified

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Correct Answer
verified

Which statement about strategy is most accurate?

Correct Answer
verified

A marketing metric refers to

Correct Answer
verified

The ________ for the American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."

Correct Answer
verified

Which statement reflects 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?

Correct Answer
verified
B

The philosophical reason for an organization's existence is referred to as its organizational

Correct Answer
verified
C

Large organizations are extremely complex, and usually consist of ________ organizational levels overseen by a board of directors.

Correct Answer
verified

Explain what a planning gap is and what is used to close it.

Correct Answer
verified
A planning gap is the difference between...
View Answer

The level in an organization where top management directs overall strategy for the entire organization is the ________ level.

Correct Answer
verified

Figure 2-1 -In Figure 2-1 above, D represents the ________ of an organization that is comprised of individual departments.

Correct Answer
verified

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

Correct Answer
verified

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct Answer
verified
Theodore Levitt argues that senior manag...
View Answer

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Correct AnswerverifiedE

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a

Correct AnswerverifiedShow Answer

An organization uses the strategic marketing process to answer all of the following questions except which?

Correct AnswerverifiedShow Answer

The strategic marketing process

Correct AnswerverifiedShow Answer

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant B would be called

Correct AnswerverifiedShow Answer

When a company is developing new offerings, marketing may provide staff to serve as part of __________, joining others from different departments who are mutually accountable to this task.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

Which statement about strategy is most accurate?

Correct AnswerverifiedShow Answer

A marketing metric refers to

Correct AnswerverifiedShow Answer

The ________ for the American Red Cross is "to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors."

Correct AnswerverifiedShow Answer

Which statement reflects 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?

Correct AnswerverifiedB

The philosophical reason for an organization's existence is referred to as its organizational

Correct AnswerverifiedC

Large organizations are extremely complex, and usually consist of ________ organizational levels overseen by a board of directors.

Correct AnswerverifiedShow Answer

Explain what a planning gap is and what is used to close it.

Correct AnswerverifiedA planning gap is the difference between...View AnswerShow Answer

The level in an organization where top management directs overall strategy for the entire organization is the ________ level.

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1 above, D represents the ________ of an organization that is comprised of individual departments.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct AnswerverifiedTheodore Levitt argues that senior manag...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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E

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

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C

Correct Answer
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Correct Answer
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A planning gap is the difference between...
View Answer

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified
Theodore Levitt argues that senior manag...
View Answer

Correct Answer
verified