Question 1

What is a cross-functional team and how is it used?

Accepted Answer

When developing marketing programs for n...

Question 2

List potential stakeholders for the college or university that you attend.

Accepted Answer

Students' answers will vary, but each an...

Question 3

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 marketingF) A) and B)
G) B) and D)

Question 4

Identify and describe the three phases of the strategic marketing process.

Accepted Answer

The three phases of the strategic market...

Question 5

Apple launched the iPad in 2010, and unit sales reached an astonishing 40 percent market share in the tablet industry by 2013, leading both Samsung's Galaxy (18 percent)  and Amazon's Kindle (4 percent) . Global tablet unit sales are expected to more than double by 2016 as consumers continue to switch from desktops and laptop PCs. Currently, Apple's iPad SBU appears to be a __________.

Accepted Answer

A)  question mark
B)  star
C)  hedgehog
D)  cash cow
E)  dogF) B) and C)
G) A) and C)

Question 6

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

In his famous Marketing Myopia article, ...

Question 7

Apple, a multimarket, multiproduct firm, manufactures and markets iMacs, 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 iMacs, iPods, iPhones, and iPads, which in effect comprise a portfolio of businesses, operate as a strategic business unit (SBU) of Apple. At the strategic business unit level, Apple marketing managers set the strategic direction for these products to clearly defined groups of customers.

Question 8

Which of the following statements regarding organizational foundation is most accurate?

Accepted Answer

A)  An organizational foundation specifies its goals.
B)  An organizational foundation defines the business that it is in.
C)  An organization's foundation empowers stakeholders to have a voice in the strategic marketing process.
D)  An organization's foundation is its philosophical reason for being - why it exists.
E)  An organization's foundation is the company, its product, and its customers.F) C) and D)
G) A) and D) D

Question 9

-Which of the following tasks shown in Figure 2-10 above can be done sequentially?

Accepted Answer

A)  1 and 2
B)  2 and 3
C)  3 and 4
D)  5 and 7
E)  6 and 7F) A) and E)
G) A) and D)

Question 10

-Cree markets LED (light-emitting diode)  light bulbs (see the photo above)  that replaces the traditional incandescent bulb. The Cree LED 60w bulb is 84 percent more energy efficient, lasts for 25,000 hours, and initially sold for about $12 at Home Depot. Cree is an example of a(n)  __________.

Accepted Answer

A)  cooperative
B)  industry
C)  nonprofit organization
D)  business firm
E)  government agencyF) B) and E)
G) None of the above

Question 11

The goal of a SWOT analysis is to

Accepted Answer

A)  identify market research questions in order to develop new products for new market segments.
B)  determine how raises, bonuses, and dividends will be paid.
C)  reorganize the firm's marketing department.
D)  identify the critical strategy-related factors that can impact the firm.
E)  fairly allocate governmental resources and financial aid across the industry.F) A) and E)
G) B) and D)

Question 12

An organization's mission refers to

Accepted Answer

A)  the target goal it sets for current profits based on enacting a comprehensive strategic plan.
B)  the target objective it projects for future market share based on enacting a comprehensive strategic plan.
C)  the fundamental, passionate, and enduring principles that guide its conduct over time.
D)  specific strategies and tactics that will be used to counteract any competitor's advantages.
E)  a statement of the organization's functions in society that identifies its customers, markets, products, and technologies.F) D) and E)
G) B) and D)

Question 13

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set a(n)  __________ goal.

Accepted Answer

A)  profit
B)  customer satisfaction
C)  market share
D)  employee welfare
E)  social responsibilityF) A) and B)
G) C) and E)

Question 14

-In Figure 2-1 above, B represents the

Accepted Answer

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

Question 15

Ben & Jerry's social entrepreneurship effort is known as

Accepted Answer

A)  ISO 9000, promoting the quality concept through its commitment to making the finest ice cream from the best ingredients.
B)  Sight Life, giving its stakeholders the greatest possible input into company marketing decisions.
C)  Regeneration Nation, generating enough revenue for the firm to be a completely nonprofit organization.
D)  Give and Go, donating 10% of its net profits to local charitable causes and an additional 5% to support producers that practice sustainable farming.
E)  Partnershops, enabling community nonprofits to operate Scoop Shops that help employ at-risk youth and young adults to better their lives.F) D) and E)
G) A) and E)

Question 16

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Accepted Answer

A)  do a profitability analysis.
B)  take necessary corrective actions.
C)  bring these to the marketing auditor.
D)  proceed regardless of deviations from original plans.
E)  compare the results against the goals specified in the marketing plan.F) A) and B)
G) B) and D)

Question 17

A new company projects that its sales will exceed its expenses within the first year of operation. This is an example of which type of goal?

Accepted Answer

A)  dollar sales revenue
B)  profit
C)  market share
D)  unit sales
E)  qualityF) A) and B)
G) A) and C)

Question 18

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as __________.

Accepted Answer

A)  marketing plans
B)  marketing programs
C)  marketing tactics
D)  marketing strategies
E)  marketing proceduresF) A) and D)
G) A) and C)

Question 19

The second phase of the strategic marketing process is the __________.

Accepted Answer

A)  tactics phase
B)  strategic phase
C)  planning phase
D)  implementation phase
E)  evaluation phaseF) D) and E)
G) C) and D)

Question 20

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S., it would be using a __________ strategy.

Accepted Answer

A)  product development
B)  market development
C)  market penetration
D)  diversification
E)  market saturationF) None of the above
G) A) and E) A

Exam 2: Developing Successful Organizational and Marketing Strategies

What is a cross-functional team and how is it used?

Correct Answer
verified
When developing marketing programs for n...
View Answer

List potential stakeholders for the college or university that you attend.

Correct Answer
verified
Students' answers will vary, but each an...
View Answer

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

Correct Answer
verified

Identify and describe the three phases of the strategic marketing process.

Correct Answer
verified
The three phases of the strategic market...
View Answer

Correct Answer
verified

The American railroad industry faced a serious decline in the 20^th 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
In his famous Marketing Myopia article, ...
View Answer

Apple, a multimarket, multiproduct firm, manufactures and markets iMacs, 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?

Which of the following statements regarding organizational foundation is most accurate?

Correct Answer
verified
D

-Which of the following tasks shown in Figure 2-10 above can be done sequentially?

Correct Answer
verified

-Cree markets LED (light-emitting diode) light bulbs (see the photo above) that replaces the traditional incandescent bulb. The Cree LED 60w bulb is 84 percent more energy efficient, lasts for 25,000 hours, and initially sold for about $12 at Home Depot. Cree is an example of a(n) __________.

Correct Answer
verified

The goal of a SWOT analysis is to

Correct Answer
verified

An organization's mission refers to

Correct Answer
verified

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set a(n) __________ goal.

Correct Answer
verified

-In Figure 2-1 above, B represents the

Correct Answer
verified

Ben & Jerry's social entrepreneurship effort is known as

Correct Answer
verified

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Correct Answer
verified

A new company projects that its sales will exceed its expenses within the first year of operation. This is an example of which type of goal?

Correct Answer
verified

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as __________.

Correct Answer
verified

The second phase of the strategic marketing process is the __________.

Correct Answer
verified

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S., it would be using a __________ strategy.

Correct Answer
verified
A

Exam 2: Developing Successful Organizational and Marketing Strategies

What is a cross-functional team and how is it used?

Correct AnswerverifiedWhen developing marketing programs for n...View AnswerShow Answer

List potential stakeholders for the college or university that you attend.

Correct AnswerverifiedStudents' answers will vary, but each an...View AnswerShow 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

Identify and describe the three phases of the strategic marketing process.

Correct AnswerverifiedThe three phases of the strategic market...View AnswerShow Answer

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 AnswerverifiedIn his famous Marketing Myopia article, ...View AnswerShow Answer

Apple, a multimarket, multiproduct firm, manufactures and markets iMacs, 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?

Which of the following statements regarding organizational foundation is most accurate?

Correct AnswerverifiedD

-Which of the following tasks shown in Figure 2-10 above can be done sequentially?

Correct AnswerverifiedShow Answer

-Cree markets LED (light-emitting diode) light bulbs (see the photo above) that replaces the traditional incandescent bulb. The Cree LED 60w bulb is 84 percent more energy efficient, lasts for 25,000 hours, and initially sold for about $12 at Home Depot. Cree is an example of a(n) __________.

Correct AnswerverifiedShow Answer

The goal of a SWOT analysis is to

Correct AnswerverifiedShow Answer

An organization's mission refers to

Correct AnswerverifiedShow Answer

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set a(n) __________ goal.

Correct AnswerverifiedShow Answer

-In Figure 2-1 above, B represents the

Correct AnswerverifiedShow Answer

Ben & Jerry's social entrepreneurship effort is known as

Correct AnswerverifiedShow Answer

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Correct AnswerverifiedShow Answer

A new company projects that its sales will exceed its expenses within the first year of operation. This is an example of which type of goal?

Correct AnswerverifiedShow Answer

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as __________.

Correct AnswerverifiedShow Answer

The second phase of the strategic marketing process is the __________.

Correct AnswerverifiedShow Answer

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S., it would be using a __________ strategy.

Correct AnswerverifiedA

Correct Answer
verified
When developing marketing programs for n...
View Answer

Correct Answer
verified
Students' answers will vary, but each an...
View Answer

Correct Answer
verified

Correct Answer
verified
The three phases of the strategic market...
View Answer

Correct Answer
verified

The American railroad industry faced a serious decline in the 20^th 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
In his famous Marketing Myopia article, ...
View Answer

Correct Answer
verified
D

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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verified
A