Question 1

Cree markets LED (light-emitting diode)  bulbs that replace the traditional incandescent bulb. A Cree LED bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an example of

Accepted Answer

A)   a cooperative.
B)   an industry.
C)   a nonprofit organization.
D)   a business firm.
E)   a government agency.F) A) and B)
G) B) and E)

Question 2

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

Question 3

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) B) and E)
G) C) and D)

Question 4

Apple recently launched its revolutionary Apple watch as the first wearable technology that used a multitouch user interface. Industry analysts estimate that Apple's annual unit sales reached 18 million in 2017 and will reach 45 million watches in 2019, suggesting a 58 percent growth rate. The Apple watch entered the market as a

Accepted Answer

A)   question mark.
B)   raptor.
C)   hedgehog.
D)   cash cow.
E)   dog.F) A) and E)
G) None of the above

Question 5

A situation analysis refers to

Accepted Answer

A)   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)   an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment.
C)   the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
D)   a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments.
E)   the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.F) C) and D)
G) B) and E)

Question 6

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Accepted Answer

A)   corporate level.
B)   functional level.
C)   directive level.
D)   strategic level.
E)   tactical level.F) D) and E)
G) A) and B)

Question 7

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) All of the above
G) B) and D)

Question 8

The marketing program, Step 3 in the strategic planning process, answers which question?

Accepted Answer

A)   who
B)   what
C)   when
D)   why
E)   howF) All of the above
G) A) and D)

Question 9

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Accepted Answer

A)   influencing the relative market share.
B)   enhancing employee motivation to move a low-valued SBU to a higher one.
C)   adding a variety of new SBUs that will force out older ones.
D)   influencing the market growth rate.
E)   simplifying its offerings by removing features.F) D) and E)
G) All of the above

Question 10

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) None of the above
G) C) and D)

Question 11

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) All of the above
G) A) and B)

Question 12

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

Accepted Answer

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

Question 13

Figure 2-10
-Figure 2-10 is known as a ________, which is helpful for scheduling activities when some must be completed before others can begin.

Accepted Answer

A)   market-product grid
B)   project schedule
C)   Plan-A-Gram
D)   Gantt chart
E)   sales response functionF) B) and C)
G) A) and E)

Question 14

An organization's ________ are the fundamental, passionate, and enduring principles that guide its conduct over time.

Accepted Answer

A)   goals
B)   cultures
C)   strategies
D)   core values
E)   mission statementsF) A) and C)
G) D) and E)

Question 15

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

Accepted Answer

A)   market penetration.
B)   product development.
C)   market development.
D)   product penetration.
E)   diversification.F) A) and D)
G) A) and C)

Question 16

An organization's core values

Accepted Answer

A)   are developed by cross-functional teams for all levels of an organization.
B)   are important to the founders but rarely motivate a firm's stakeholders.
C)   change as an organization's offerings change.
D)   guide the organization's conduct.
E)   cannot be separated from the financial realities of that organization.F) C) and D)
G) D) and E)

Question 17

Strategy refers to

Accepted Answer

A)   an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals.
B)   an organization's corporate tactical or action plan.
C)   statement of an accomplishment of a task to be achieved by a certain time.
D)   a statement of the organization's function in society, often identifying its customers, markets, product, and technologies.
E)   a road map for the entire organization for a specified future period of time, such as one or five years.F) C) and D)
G) None of the above

Question 18

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Accepted Answer

A)   CEO.
B)   CMO.
C)   CPM.
D)   CPO.
E)   COO.F) A) and B)
G) A) and C)

Question 19

Objectives are

Accepted Answer

A)   the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program designed to reach it.
B)   criteria or standards used in evaluating proposed solutions to a marketing problem.
C)   statements of an accomplishment of a task to be achieved, often by a specific time.
D)   a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
E)   the detailed day-to-day operational decisions essential to the overall success of marketing strategies.F) A) and E)
G) A) and D)

Question 20

Organizations that develop similar offerings, when grouped together, create

Accepted Answer

A)   a conglomerate.
B)   a merger.
C)   an industry.
D)   a sector.
E)   a monopoly.F) D) and E)
G) C) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct Answer
verified

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Correct Answer
verified

Diversification refers to the marketing strategy of

Correct Answer
verified

A situation analysis refers to

Correct Answer
verified

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

Correct Answer
verified

Cree markets LED (light-emitting diode) bulbs that replace the traditional incandescent bulb. A Cree LED bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an example of

Correct Answer
verified

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

Correct Answer
verified

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Correct Answer
verified

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Correct Answer
verified

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

Correct Answer
verified

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

An organization's ________ are the fundamental, passionate, and enduring principles that guide its conduct over time.

Correct Answer
verified

The marketing program, Step 3 in the strategic planning process, answers which question?

Correct Answer
verified

An organization's core values

Correct Answer
verified

Organizations that develop similar offerings, when grouped together, create

Correct Answer
verified

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

Correct Answer
verified

Objectives are

Correct Answer
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Strategy refers to

Correct Answer
verified

Figure 2-10 -Figure 2-10 is known as a ________, which is helpful for scheduling activities when some must be completed before others can begin.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Correct AnswerverifiedShow Answer

Diversification refers to the marketing strategy of

Correct AnswerverifiedShow Answer

A situation analysis refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Cree markets LED (light-emitting diode) bulbs that replace the traditional incandescent bulb. A Cree LED bulb consumes 85 percent less energy and lasts for 25,000 hours. Cree is an example of

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

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Correct AnswerverifiedShow Answer

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

An organization's ________ are the fundamental, passionate, and enduring principles that guide its conduct over time.

Correct AnswerverifiedShow Answer

The marketing program, Step 3 in the strategic planning process, answers which question?

Correct AnswerverifiedShow Answer

An organization's core values

Correct AnswerverifiedShow Answer

Organizations that develop similar offerings, when grouped together, create

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

Objectives are

Correct AnswerverifiedShow Answer

Strategy refers to

Correct AnswerverifiedShow Answer

Figure 2-10 -Figure 2-10 is known as a ________, which is helpful for scheduling activities when some must be completed before others can begin.

Correct AnswerverifiedShow Answer

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