Question 1

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) A) and B)

Question 2

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

Accepted Answer

A)  business agencies
B)  nonprofit organizations
C)  government agencies
D)  cooperatives
E)  social service agenciesF) A) and D)
G) None of the above

Question 3

Which of the following statements regarding Ben & Jerry's is most accurate?

Accepted Answer

A)  Ben & Jerry's is owned by Unilever, the market leader in the global ice cream industry.
B)  Ben & Jerry's is a privately owned ice cream producer.
C)  Ben & Jerry's prides itself on offering more ice cream flavors than its competitors.
D)  Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry cartoon characters in order to capitalize on childhood nostalgia.
E)  Ben & Jerry's has only been in business for twenty years and is already the industry leader in premium ice cream.F) C) and D)
G) A) and C)

Question 4

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A)  sell more products at a lower price in new markets.
B)  sell the same amount of product at a higher price in the same market.
C)  find a new market and sell the product at a much higher price.
D)  alter the product and sell it to a new market.
E)  reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.F) A) and B)
G) B) and E)

Question 5

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) B) and E)
G) A) and B)

Question 6

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)  statements 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 E)
G) B) and E)

Question 7

-In Figure 2-1 above, Box A represents the

Accepted Answer

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

Question 8

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)  causes dissension between different divisions when one is labeled a "star" and another a "dog."
B)  reduces employee motivation to move a low valued SBU to a higher one.
C)  considers too many SBU factors beyond market growth rate and relative market share.
D)  does not require sales forecasts in order to be implemented.
E)  is often difficult to obtain the needed information to correctly place SBUs in the matrix.F) A) and C)
G) A) and D)

Question 9

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

Accepted Answer

A)  stakeholders.
B)  stockholders.
C)  competitors.
D)  target audience.
E)  organizational society.F) A) and B)
G) A) and C)

Question 10

By understanding its core values, an organization can take steps to define its __________, a statement of the organization's function in society that identifies its customers, markets, products, and technologies.

Accepted Answer

A)  customer value proposition
B)  doctrine
C)  philosophy
D)  mission
E)  code of ethicsF) A) and B)
G) B) and E)

Question 11

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

Accepted Answer

A)  YouTube
B)  Direct traffic
C)  Google
D)  Facebook
E)  TwitterF) C) and D)
G) A) and B)

Question 12

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Accepted Answer

A)  product development
B)  market development
C)  diversification
D)  market saturation
E)  market penetrationF) B) and E)
G) A) and B)

Question 13

Seeking to obtain as high a financial return on their investments (ROI)  as possible, firms will often set __________ goals.

Accepted Answer

A)  sales
B)  quality
C)  market share
D)  profit
E)  employee welfareF) B) and E)
G) A) and D)

Question 14

Procter & Gamble (P&G)  is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop new products like Crest Whitestrips that consumers crave. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n)  __________ for the firm.

Accepted Answer

A)  strength
B)  weakness
C)  threat
D)  opportunity
E)  problemF) A) and B)
G) A) and C)

Question 15

The actions taken during the implementation phase of the strategic marketing process include: (1)  __________; (2)  design the marketing organization; (3)  define precise tasks, responsibilities, and deadlines; and (4)  execute the marketing program.

Accepted Answer

A)  obtain resources
B)  select target markets
C)  position the product
D)  find points of difference
E)  develop the budget by estimating revenues, expenses, and profitsF) A) and E)
G) A) and B)

Question 16

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Accepted Answer

A)  plans
B)  procedures
C)  strategies
D)  core values
E)  goalsF) A) and B)
G) A) and C)

Question 17

Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year. The hospital touts universal values to "keep healthcare human" and employees consistently put patients first, which unites them in a common goal. Hospital President Kathy Young believes that St. Joseph __________ makes both her employees and patients happier in her hospital.

Accepted Answer

A)  vision
B)  service offerings
C)  organizational culture
D)  pathos
E)  behavioral protocolF) A) and C)
G) A) and D)

Question 18

Evergreen Air Center is the world's biggest parking lot for unwanted aircraft. Airlines pay a monthly fee from $750 to $5,000 to mothball their unneeded airplanes there. Its location is on 1,600 acres of Arizona desert near Tucson. The Southwest climate of dry, warm air serves as a cheap and effective airplane preservative against rust. Evergreen's location is a(n)

Accepted Answer

A)  competency.
B)  sustainable advantage.
C)  competitive identity.
D)  core benefit proposition.
E)  innovative distinction.F) A) and E)
G) A) and B)

Question 19

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

Accepted Answer

A)  Hardware
B)  Electronics
C)  Software
D)  Peripherals
E)  Grand TotalF) B) and E)
G) A) and B)

Question 20

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

Accepted Answer

A)  business plan
B)  marketing objective
C)  marketing plan
D)  marketing strategy
E)  marketing programF) B) and C)
G) C) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

Correct Answer
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A situation analysis refers to

Correct Answer
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-In Figure 2-1 above, Box A represents the

Correct Answer
verified

Correct Answer
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A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

Correct Answer
verified

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Correct Answer
verified

The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) execute the marketing program.

Correct Answer
verified

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

Correct Answer
verified

The key to all scheduling techniques is to

Correct Answer
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Correct Answer
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One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Correct Answer
verified

One way a company can benefit from implementing a market penetration strategy would be to

Correct Answer
verified

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

Correct Answer
verified

Correct Answer
verified

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set __________ goals.

Correct Answer
verified

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Correct Answer
verified

By understanding its core values, an organization can take steps to define its __________, a statement of the organization's function in society that identifies its customers, markets, products, and technologies.

Correct Answer
verified

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

Correct Answer
verified

Strategy refers to

Correct Answer
verified

Which of the following statements regarding Ben & Jerry's is most accurate?

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

-According to Figure 2-3a above, which of the following is the largest Website Traffic Source?

Correct AnswerverifiedShow Answer

A situation analysis refers to

Correct AnswerverifiedShow Answer

-In Figure 2-1 above, Box A represents the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A road map for the marketing activities of an organization for a specified future time period, such as one year or five years, is referred to as a __________.

Correct AnswerverifiedShow Answer

If Ben & Jerry's starts selling Bonnaroo Buzz Fair Trade-sourced super premium ice cream in Brazil for the first time, it will be using a __________ strategy.

Correct AnswerverifiedShow Answer

The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) execute the marketing program.

Correct AnswerverifiedShow Answer

-According to Figure 2-3b above, which of the following SBUs has the LOWEST YTD revenue compared to its target?

Correct AnswerverifiedShow Answer

The key to all scheduling techniques is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

One way a company can benefit from implementing a market penetration strategy would be to

Correct AnswerverifiedShow Answer

Social entrepreneurs like Teach for America and SightLife are usually structured as __________ rather than business firms.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set __________ goals.

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.

Correct AnswerverifiedShow Answer

By understanding its core values, an organization can take steps to define its __________, a statement of the organization's function in society that identifies its customers, markets, products, and technologies.

Correct AnswerverifiedShow Answer

The term that encompasses and organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is referred to as its

Correct AnswerverifiedShow Answer

Strategy refers to

Correct AnswerverifiedShow Answer

Which of the following statements regarding Ben & Jerry's is most accurate?

Correct AnswerverifiedShow Answer

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