Question 1

Regarding goals and objectives, which of the following statements would be most accurate?

Accepted Answer

A)  Objectives convert an organization's mission and business into long- and short-term performance targets.
B)  Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
C)  A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are never accomplished during the specified time period.
D)  Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit.
E)  The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based.F) B) and D)
G) B) and E)

Question 2

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Accepted Answer

A)  reached the goal of generating enough revenue to be a completely nonprofit organization.
B)  a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees.
C)  the goal of making profits for selected charitable organizations such as Fair Trade.
D)  been recognized for its efforts to use the power of business to solve social and environmental problems.
E)  been instrumental in expanding into international markets by developing dairies for developing nations.F) All of the above
G) B) and C)

Question 3

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1)  actual results fall short of goals and (2)  __________.

Accepted Answer

A)  deviations that result from major shifts in customer needs
B)  actual results exceed goals
C)  there are no deviations but there should be
D)  deviations that result from executive mandates
E)  deviations that are blamed on insufficient marketing support (personnel or funding) F) A) and B)
G) B) and D)

Question 4

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

Question 5

Business portfolio analysis refers to

Accepted Answer

A)  a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
B)  a technique that managers use to graphically track their firm's strategic business units (SBUs)  as though they were a single expense in order to identify cost-cutting measures.
C)  a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units (SBUs)  as though they were a collection of separate investments.
D)  an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm.
E)  a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) None of the above
G) A) and B)

Question 6

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

Accepted Answer

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

Question 7

A marketing metric refers to

Accepted Answer

A)  a measure of the quantitative value or trend of a marketing activity or result.
B)  a form of linear trend analysis used to project future profits based on existing marketing plans.
C)  one of a series of mathematical formulas used to calculate potential profits based upon different scenarios of the forces in the marketing environment.
D)  information about an organization's core values and code of ethics so marketers can quickly spot deviations and take corrective actions.
E)  the value of a product in terms of its contribution to employee welfareF) C) and E)
G) A) and D)

Question 8

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals. Due to the resources it makes available to its scientists and researchers, the company has a number of Nobel Prize winners working in its laboratories. This ability to employ some of the finest minds in the world is an example of a

Accepted Answer

A)  point of similarity.
B)  competency.
C)  sustainable advantage.
D)  product development strategy.
E)  human resource strategy.F) B) and E)
G) None of the above

Question 9

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

Question 10

What is the difference between a marketing strategy and a marketing tactic?

Accepted Answer

A marketing strategy is the means by whi...

Question 11

Name and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals ...

Question 12

Organizational culture refers to

Accepted Answer

A)  the personal moral and ethical codes of ethics of its top management.
B)  a written statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)  the fundamental, passionate, and enduring principles that guide its 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) A) and B)
G) B) and C)

Question 13

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Accepted Answer

A)  handing out "Smarter Planet" t-shirts on selected college campuses through the world
B)  providing samples of new hard drives for NYC businesses
C)  sponsoring the U.S. swim team for the 2012 Summer Olympics
D)  including a strong message in an annual report from IBM's Chairman of the Board and CEO
E)  garnering a celebrity endorsement from Jon Steward, host of the Daily ShowF) A) and C)
G) A) and E)

Question 14

The actions taken during the evaluation phase of the strategic marketing process include: (1)  compare results with plans to identify deviations and (2)  __________.

Accepted Answer

A)  find points of difference
B)  execute the marketing program
C)  track sales and revenues and compare with competitors
D)  develop the budget by estimating revenues, expenses, and profits
E)  exploit positive deviations and correct negative onesF) C) and D)
G) A) and B)

Question 15

Toyota had some difficulty recovering from a recall crisis several years ago when it was forced to recall about 6 million vehicles due to variety of problems, most notably one with the accelerator pedal. To "polish" its brand, it implemented stricter __________ goals to improve the safety and reliability of its vehicles.

Accepted Answer

A)  profit
B)  sales revenue
C)  customer satisfaction
D)  quality
E)  employee welfareF) B) and C)
G) A) and E)

Question 16

A recent Congressional initiative mandated that the U.S. Department of Transportation (USDOT)  establish a national traffic information collection system. The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A)  a weakness if the company has an existing working relationship with the USDOT.
B)  an opportunity if the USDOT will give this information directly to all radio stations.
C)  a weakness if the company that provides local traffic information has no employees who are technologically capable of using the USDOT system.
D)  a threat if the USDOT does not have resources to interpret data for regional traffic areas.
E)  part of a marketing plan; this information would not be part of a SWOT analysis.F) A) and D)
G) None of the above

Question 17

__________ is(are)  the reward to a business firm for the risk it undertakes in marketing its offerings.

Accepted Answer

A)  Shareholders' equity
B)  Profit
C)  Assets
D)  Contribution margin
E)  GoodwillF) A) and B)
G) A) and C)

Question 18

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

Accepted Answer

A)  when; why; what
B)  why; what; how
C)  what; how; why
D)  what; where; how
E)  how; where; whatF) B) and E)
G) C) and E)

Question 19

-In Figure 2-1 above, D represents the

Accepted Answer

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

Question 20

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Accepted Answer

A)  consideration set.
B)  industry.
C)  competitors.
D)  target market.
E)  stakeholders.F) C) and E)
G) B) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

Name and briefly describe the seven types of organizational goals or objectives.

Correct Answer
verified
The seven types of organizational goals ...
View Answer

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct Answer
verified

Regarding goals and objectives, which of the following statements would be most accurate?

Correct Answer
verified

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Organizational culture refers to

Correct Answer
verified

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Correct Answer
verified

-In Figure 2-1 above, D represents the

Correct Answer
verified

What is the difference between a marketing strategy and a marketing tactic?

Correct Answer
verified
A marketing strategy is the means by whi...
View Answer

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

Correct Answer
verified

In the 20^th 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 Answer
verified

Business portfolio analysis refers to

Correct Answer
verified

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Correct Answer
verified

Correct Answer
verified

__________ is(are) the reward to a business firm for the risk it undertakes in marketing its offerings.

Correct Answer
verified

A marketing metric refers to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Name and briefly describe the seven types of organizational goals or objectives.

Correct AnswerverifiedThe seven types of organizational goals ...View AnswerShow Answer

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct AnswerverifiedShow Answer

Regarding goals and objectives, which of the following statements would be most accurate?

Correct AnswerverifiedShow Answer

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Organizational culture refers to

Correct AnswerverifiedShow Answer

-Although now a part of Sears, Lands' End was primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Correct AnswerverifiedShow Answer

-In Figure 2-1 above, D represents the

Correct AnswerverifiedShow Answer

What is the difference between a marketing strategy and a marketing tactic?

Correct AnswerverifiedA marketing strategy is the means by whi...View AnswerShow Answer

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast food businesses into new markets, such as China, Russia, and India. This type of expansion would be a __________ strategy.

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

Business portfolio analysis refers to

Correct AnswerverifiedShow Answer

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2) __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

__________ is(are) the reward to a business firm for the risk it undertakes in marketing its offerings.

Correct AnswerverifiedShow Answer

A marketing metric refers to

Correct AnswerverifiedShow Answer

Correct Answer
verified
The seven types of organizational goals ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A marketing strategy is the means by whi...
View Answer

Correct Answer
verified

In the 20^th 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 Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified