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Exam 2: Developing Successful Organizational and Marketing Strategies

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Question 161

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LEGO has traditionally been successful selling its classic construction sets to boys. Recently, LEGO introduced a line of building toys especially for girls called LEGO Friends. It includes feminine characters, pink and purple theme colors, and allows girls to construct more story-related activities. The company felt this was a way to reach into the girl's toy market where alternatives include princess games and accessories. Considering Figure 2-5, this is an example of a ________ strategy that would be found in quadrant ________.

A) market penetration; A
B) product development; B
C) diversification; D
D) market development; C
E) product-market expansion; D

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

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Question 162

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The third and final phase of the strategic marketing process is the

A) tactics phase.
B) strategic phase.
C) planning phase.
D) implementation phase.
E) evaluation phase.

F) A) and C)
G) B) and D)

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Question 163

Multiple Choice

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Step 2 in the planning phase of the strategic marketing process consists of

Explain what a visionary organization is and the three questions (why, what, and how) that need to be answered to achieve success.

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck, the Amarok, hoping it would be a clever way to get people to engage. This action is an example of Volkswagen's marketing

The numeric information displayed in Figure 2-3c above allows the viewer to quickly identify which states and even regions have the most monthly website visits, which is a form of

Figure 2-7 -Consider Figure 2-7. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in a loss of power. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. Before going ahead with this decision, several factors had to be considered: (1) The firm has a great reputation with its flashlights and doesn't want to ruin it. (2) Its physical plant could be refitted relatively easily to make small generators, but it would be rather costly. (3) It would have to rely on another firm to manufacture and package the survival kits. (4) Although there are nine named hurricanes scheduled for the upcoming year, no one really can predict what will happen. The need to rely on another company to supply the survival kits would fall in which quadrant(s) of the SWOT analysis grid?

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Steep markdowns at a retail store for end-of-year sales are likely to help with which goal, rather than a profit one?

A new company has an objective that its sales will exceed its expenses during its first year of operation. This is an example of which type of goal?

The organizational foundation sets the ________ of organizations, the organization direction sets the ________, and organizational strategies are concerned with the ________.

All of the following are important branded offerings that will meet IBM's customer needs into the future except which?

________ the reward to a business firm for the risk it undertakes in marketing its offerings.

Recently, many organizations have added ________ to their mission statements.

Customers' perceptions are often central to an organization's goals. Customer ________ can be measured with surveys or by the number of customer complaints an organization receives.

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

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

During Step 2 of the strategic marketing process, firms such as Ben & Jerry's engage in all of the following marketing activities except which?

A marketing strategy typically addresses both the ________ and the ________.

Unilever distributes its Lipton tea products in part through independent brokers, agents, and distributors to chain, wholesale, co-operative, and independent grocery accounts and food service. This is an example of a firm's