Question 1

At the functional level, the organization's strategic direction becomes

Accepted Answer

A)   much more manageable since its offerings have been finalized.
B)   the most specific and most focused in terms of implementing the company's goals.
C)   broader since for less complex firms, the corporate and functional levels may merge.
D)   more general to avoid the "not invented here syndrome" that could result in missed opportunities.
E)   the sole responsibility of the CEO.F) A) and E)
G) C) and E)

Question 2

Most firms have a goal to maximize their long-run ________, achieving as high a financial return on investment as possible.

Accepted Answer

A)   quality
B)   market share
C)   employee welfare
D)   social responsibility
E)   profitsF) B) and D)
G) A) and C)

Question 3

Figure 2-2
-In Figure 2-2, C represents the "how" element of visionary organization. This is referred to as

Accepted Answer

A)   organizational tactics.
B)   organizational mission.
C)   organizational foundation.
D)   organizational direction.
E)   organizational strategies.F) A) and E)
G) A) and B)

Question 4

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Accepted Answer

A)   designated teams.
B)   strategic business units.
C)   cross-functional teams.
D)   business committees.
E)   venture squads.F) B) and E)
G) B) and D)

Question 5

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Accepted Answer

A)   Business firms earn a profit each year while nonprofits operate at a deficit annually.
B)   Nonprofit organizations do not carry on economic activities while business firms do.
C)   Nonprofit organizations are concerned with social issues and business firms are not.
D)   Both serve customers, but business firms seek a profit while nonprofit organizations do not.
E)   Nonprofit organizations are publicly owned and business firms are privately owned.F) A) and B)
G) D) and E)

Question 6

Data visualization

Accepted Answer

A)   is the visual computer display of the essential information related to achieving a marketing objective.
B)   is a road map for the marketing activities of an organization for a specified future time period.
C)   is the process of continuously collecting information about customers' needs, sharing this information across departments, and using it to create marketing metrics.
D)   is a measure of the quantitative value or trend of a marketing activity or result.
E)   presents information about an organization's marketing metrics graphically so marketers can quickly spot deviations from plans and take corrective actions.F) D) and E)
G) B) and C)

Question 7

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination. It should have adopted a more rigorous ________ goal.

Accepted Answer

A)   profit
B)   sales revenue
C)   customer satisfaction
D)   employee welfare
E)   qualityF) All of the above
G) C) and D)

Question 8

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 D)
G) C) and D)

Question 9

The key to all scheduling techniques is to

Accepted Answer

A)   avoid scheduling tasks that can be done concurrently.
B)   avoid tasks that must be done sequentially.
C)   make sure to allow a 20 percent delay factor to account for contingencies.
D)   assign responsibility for end results to the entire group rather than a single individual.
E)   distinguish tasks that must be done sequentially from those that can be done concurrently.F) A) and C)
G) None of the above

Question 10

Several years ago, Black & Decker purchased General Electric's small appliances product line. Black & Decker purchased the line because it needed the cash generated from a product line that had a dominant market share in the slow-growth small appliance industry. GE's small appliances product line is most likely a ________ for Black & Decker.

Accepted Answer

A)   dog
B)   cash cow
C)   question mark
D)   camel
E)   starF) B) and E)
G) C) and D)

Question 11

When participating in major projects in college marketing classes, effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Accepted Answer

A)   market-product grid
B)   project schedule
C)   Plan-A-Gram
D)   Gantt chart
E)   sales response functionF) None of the above
G) B) and D)

Question 12

The purpose of business portfolio analysis is to

Accepted Answer

A)   add or delete product line and brand extensions.
B)   search for growth opportunities from among current and new markets as well as current and new products.
C)   alter a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and increase sales.
D)   determine which strategic business unit or offering generates cash and which one requires cash to fund the organization's growth opportunities.
E)   seek opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) D) and E)
G) All of the above

Question 13

Organizational culture refers to

Accepted Answer

A)   the personal moral and ethical codes of ethics of an organization's top management.
B)   a written statement expressing an organization's goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)   the fundamental, passionate, and enduring principles that guide an organization's conduct over time.
D)   the ethos of an organization that excludes its core values.
E)   a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.F) B) and C)
G) A) and E)

Question 14

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 B)

Question 15

One of the qualities of a good mission statement is which of these?

Accepted Answer

A)   idealistic
B)   long-term
C)   fact-based
D)   complex
E)   permanentF) A) and D)
G) B) and D)

Question 16

The ________ element of the marketing mix includes discounts and allowances.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   peopleF) All of the above
G) A) and E)

Question 17

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) A) and B)
G) B) and C)

Question 18

Marketing tactics refer to the

Accepted Answer

A)   long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)   detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)   steps taken to develop an effective marketing plan.
D)   development of marketing strategies to achieve the organization's marketing objectives.
E)   refinement of the organization's mission based on the results obtained from a marketing audit.F) None of the above
G) C) and E)

Question 19

Ben & Jerry's entrepreneurial approach led the company to successfully implement many highly creative organizational and marketing strategies. One example includes

Accepted Answer

A)   ISO 9000, promoting the quality concept through its commitment to making the finest ice cream from the best ingredients.
B)   "linked prosperity," which encouraged the success of all constituents including employees.
C)   Regeneration Nation, generating enough revenue for the firm to be a completely nonprofit organization.
D)   Give and Go, donating 10 percent of its net profits to local charitable causes and an additional 5 percent to support producers that practice sustainable farming.
E)   PartnerShops, Ben & Jerry scoop shops that are independently owned and operated by community-based nonprofit organizations.F) A) and E)
G) D) and E)

Question 20

In general, a visionary organization asks which three types of questions to specify its foundation, set a direction, and formulate strategies?

Accepted Answer

A)   why, when, where
B)   what, by whom, how
C)   how, when, where
D)   why, what, how
E)   who, why, whenF) A) and C)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Correct Answer
verified

Marketing tactics refer to the

Correct Answer
verified

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination. It should have adopted a more rigorous ________ goal.

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

At the functional level, the organization's strategic direction becomes

Correct Answer
verified

The key to all scheduling techniques is to

Correct Answer
verified

The ________ element of the marketing mix includes discounts and allowances.

Correct Answer
verified

Organizational culture refers to

Correct Answer
verified

The purpose of business portfolio analysis is to

Correct Answer
verified

When participating in major projects in college marketing classes, effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Correct Answer
verified

Ben & Jerry's entrepreneurial approach led the company to successfully implement many highly creative organizational and marketing strategies. One example includes

Correct Answer
verified

In general, a visionary organization asks which three types of questions to specify its foundation, set a direction, and formulate strategies?

Correct Answer
verified

Figure 2-2 -In Figure 2-2, C represents the "how" element of visionary organization. This is referred to as

Correct Answer
verified

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct Answer
verified

One of the qualities of a good mission statement is which of these?

Correct Answer
verified

A strategic business unit (SBU) refers to

Correct Answer
verified

Most firms have a goal to maximize their long-run ________, achieving as high a financial return on investment as possible.

Correct Answer
verified

Data visualization

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

Exam 2: Developing Successful Organizational and Marketing Strategies

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Correct AnswerverifiedShow Answer

Marketing tactics refer to the

Correct AnswerverifiedShow Answer

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination. It should have adopted a more rigorous ________ goal.

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

At the functional level, the organization's strategic direction becomes

Correct AnswerverifiedShow Answer

The key to all scheduling techniques is to

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes discounts and allowances.

Correct AnswerverifiedShow Answer

Organizational culture refers to

Correct AnswerverifiedShow Answer

The purpose of business portfolio analysis is to

Correct AnswerverifiedShow Answer

When participating in major projects in college marketing classes, effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Correct AnswerverifiedShow Answer

Ben & Jerry's entrepreneurial approach led the company to successfully implement many highly creative organizational and marketing strategies. One example includes

Correct AnswerverifiedShow Answer

In general, a visionary organization asks which three types of questions to specify its foundation, set a direction, and formulate strategies?

Correct AnswerverifiedShow Answer

Figure 2-2 -In Figure 2-2, C represents the "how" element of visionary organization. This is referred to as

Correct AnswerverifiedShow Answer

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

One of the qualities of a good mission statement is which of these?

Correct AnswerverifiedShow Answer

A strategic business unit (SBU) refers to

Correct AnswerverifiedShow Answer

Most firms have a goal to maximize their long-run ________, achieving as high a financial return on investment as possible.

Correct AnswerverifiedShow Answer

Data visualization

Correct AnswerverifiedShow Answer

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

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

Correct Answer
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