Question 1

Apple,a multimarket,multiproduct firm,manufactures and markets Apple Watch,iPods,iPhones,and iPads as a portfolio of businesses.At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Accepted Answer

The Apple Watch,iPods,iPhones,and iPads,...

Question 2

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

Accepted Answer

A)   sustainability doctrine
B)   core benefit proposition
C)   mission statement
D)   corporate philosophy
E)   code of ethicsF) C) and D)
G) A) and C)

Question 3

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

Accepted Answer

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

Question 4

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A)   market aggregation.
B)   market segmentation.
C)   product sorting.
D)   product grouping.
E)   mass marketing.F) None of the above
G) A) and E)

Question 5

A marketing strategy is the means by which a marketing goal is to be achieved.The two parts that usually characterize a marketing strategy are

Accepted Answer

A)   specific organizational goals and objectives.
B)   a detailed marketing plan and a marketing budget.
C)   marketing strategies and marketing tactics.
D)   a specified target market and a marketing program to reach it.
E)   marketing metrics and marketing dashboards to track effectiveness.F) A) and D)
G) D) and E)

Question 6

The key steps of planning,implementation,and evaluation are part of

Accepted Answer

A)   gap analysis.
B)   the strategic marketing process.
C)   situational analysis.
D)   synergy analysis.
E)   diversification analysis.F) B) and C)
G) C) and E)

Question 7

Describe the three strategic levels in an organization.

Accepted Answer

The three levels are: (1)the corporate l...

Question 8

Which of the following statements regarding a marketing dashboard is most accurate?

Accepted Answer

A)   The more text (words)  that is displayed, the better it is for a marketing manager to identify trends, interpret the data, and take corrective actions.
B)   A marketing dashboard very often includes 20 or more marketing metrics on the computer screen.
C)   Marketing dashboards provide graphic displays of a product's performance, such as sales, website traffic, etc.
D)   For accuracy, the marketing dashboard should be updated weekly.
E)   Marketing dashboards often show key measures such as human resource turnover, strategy success, and societal well-being.F) All of the above
G) A) and B)

Question 9

Often used interchangeably with the term vision,a __________ frequently has a meaningful theme and a long-term orientation.

Accepted Answer

A)   point of difference
B)   mission statement
C)   business definition
D)   customer value proposition
E)   marketing planF) A) and B)
G) C) and E)

Question 10

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

Accepted Answer

A)   Position the product.
B)   Set marketing and product goals.
C)   Develop the marketing program.
D)   Select target markets.
E)   Find points of difference.F) B) and C)
G) A) and C)

Question 11

A __________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Accepted Answer

A)   business firm
B)   subchapter S corporation
C)   service agency
D)   cooperative
E)   nonprofit organizationF) A) and C)
G) B) and E)

Question 12

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 E)
G) A) and C)

Question 13

Figure 2-7 
-Quadrant A in Figure 2-7 represents a(n) __________ in a SWOT analysis.

Accepted Answer

A)   threat
B)   weakness
C)   strength
D)   opportunity
E)   market segmentF) B) and E)
G) All of the above

Question 14

Sometimes maximizing sales will come at the expense of __________,so it is necessary to ensure that the latter remains at acceptable levels.

Accepted Answer

A)   advertisements
B)   sales force
C)   profits
D)   sustainability efforts
E)   customer satisfactionF) B) and D)
G) A) and B)

Question 15

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Accepted Answer

A)   agency
B)   for-profit organization
C)   institution
D)   nonprofit organization
E)   cooperativeF) C) and E)
G) D) and E)

Question 16

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process except which?

Accepted Answer

A)   research the organization's present and prospective customers
B)   determine what business the organization is in
C)   assess the organization itself
D)   identify trends in the organization's industry
E)   analyze the organization's competitorsF) D) and E)
G) C) and E)

Question 17

Figure 2-5 
-Quadrant C in Figure 2-5 represents the marketing strategy of

Accepted Answer

A)   product development.
B)   market penetration.
C)   market development.
D)   product penetration.
E)   diversification.F) C) and E)
G) All of the above

Question 18

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

Accepted Answer

Management experts stress that to be suc...

Question 19

__________ convert an organization's mission and business into long- and short-term performance targets.

Accepted Answer

A)   Plans
B)   Tactics
C)   Strategies
D)   Goals
E)   VisionsF) D) and E)
G) C) and E)

Question 20

In the 20th century,managers of railroads let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business.

Accepted Answer

A)   transportation
B)   transcontinental shipping
C)   passenger travel
D)   product delivery
E)   bulk cargoF) A) and B)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

The __________ for Facebook is "To give people the power to share and make the world more open and connected."

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 2-5 -Quadrant C in Figure 2-5 represents the marketing strategy of

Correct AnswerverifiedShow Answer

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process except which?

Correct AnswerverifiedShow Answer

Often used interchangeably with the term vision,a __________ frequently has a meaningful theme and a long-term orientation.

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Correct AnswerverifiedShow Answer

Apple,a multimarket,multiproduct firm,manufactures and markets Apple Watch,iPods,iPhones,and iPads as a portfolio of businesses.At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Correct AnswerverifiedThe Apple Watch,iPods,iPhones,and iPads,...View AnswerShow Answer

__________ convert an organization's mission and business into long- and short-term performance targets.

Correct AnswerverifiedShow Answer

The key steps of planning,implementation,and evaluation are part of

Correct AnswerverifiedShow Answer

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

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

A marketing strategy is the means by which a marketing goal is to be achieved.The two parts that usually characterize a marketing strategy are

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 of the following statements regarding a marketing dashboard is most accurate?

Correct AnswerverifiedShow Answer

Sometimes maximizing sales will come at the expense of __________,so it is necessary to ensure that the latter remains at acceptable levels.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A __________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct AnswerverifiedShow Answer

In the 20th century,managers of railroads let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business.

Correct AnswerverifiedShow Answer

Describe the three strategic levels in an organization.

Correct AnswerverifiedThe three levels are: (1)the corporate l...View AnswerShow Answer

Figure 2-7 -Quadrant A in Figure 2-7 represents a(n) __________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Correct AnswerverifiedShow Answer

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The Apple Watch,iPods,iPhones,and iPads,...
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Management experts stress that to be suc...
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The three levels are: (1)the corporate l...
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