Question 1

In marketing,an organization refers to

Accepted Answer

A)  a legal entity that consists of people who share a common mission.
B)  a group of people united through contractual or corporate ownership.
C)  a legal entity engaged in business activities solely with the intent of making a profit.
D)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
E)  a privately owned entity that serves its customers to earn a profit so that it can survive.F) C) and D)
G) B) and C)

Question 2

Consider UMD2a: Ben & Jerry's Marketing Dashboard (Dollar Sales) shown above.A marketing manager for Ben and Jerry's has been provided with the above marketing dashboard display.She notices that dollar sales for 2012 were $240 million and in 2013 they were $250 million.What was the formula used to calculate the dollar sales for each of these two years?

Accepted Answer

A)  Dollar sales ($) = average price multiplied by quantity manufactured in each year.
B)  Dollar sales ($) = average cost of goods sold minus fixed costs in each year.
C)  Dollar sales ($) = average price minus shrinkage rate in each year.
D)  Dollar sales ($) = average price multiplied by quantity sold in each year.
E)  Dollar sales ($) = average cost of goods sold minus variable costs in each year.F) A) and E)
G) A) and D)

Question 3

At the functional level,the marketing department

Accepted Answer

A)  solicits talent from all levels of the organization for strategic corporate planning sessions.
B)  promotes its goals to the organization's stakeholders.
C)  looks outward,in part by listening to customers.
D)  develops the corporate culture.
E)  defines the overall strategic direction of the organization.F) A) and E)
G) A) and D)

Question 4

Toyota had some difficulty recovering from a recall crisis from a couple of 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) D) and E)

Question 5

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Accepted Answer

A)  Business firms operate with larger budgets than nonprofits.
B)  Nonprofit organizations do not carry on economic activities while business firms do.
C)  Nonprofit organizations are concerned with social issues and business firms are not.
D)  Both serve customers,but business firms seek a profit while nonprofit organizations do not.
E)  Nonprofit organizations are publicly owned and business firms are privately owned.F) None of the above
G) B) and E)

Question 6

The corporate level in an organization is where

Accepted Answer

A)  the department heads direct overall strategy for the entire organization.
B)  groups of specialists actually create value for the organization.
C)  a small number of people from different departments are mutually accountable to accomplish a task or a common set of performance goals.
D)  a subsidiary,division,or unit of an organization markets a set of related offerings to a clearly defined group of customers.
E)  top management directs overall strategy for the entire organization.F) All of the above
G) A) and B)

Question 7

Consider the photo above of Apple's personal computers (PCs) ,such as the MacPro,iMac,and MacBookPro.With the arrival of tablet devices,such as Apple's iPad in 2010,global PC industry sales slowed and then declined.However,Apple's Macs have bucked this trend,increasing its global unit market share from 10 to 12 percent.By 2016,global PC unit sales are expected to fall dramatically due to the explosion in tablet device sales.Apple's Mac PC SBU appears to be a __________.

Accepted Answer

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

Question 8

The initial step in the strategic marketing process is to begin planning by conducting a

Accepted Answer

A)  business portfolio analysis.
B)  market-product analysis and setting goals.
C)  marketing program.
D)  situation (SWOT) analysis.
E)  diversification analysis.F) All of the above
G) None of the above

Question 9

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

Accepted Answer

The three phases of the strategic market...

Question 10

Market penetration refers to the marketing strategy of

Accepted Answer

A)  selling current products to new markets.
B)  selling new products to new markets.
C)  selling new products to current markets.
D)  selling the same brands in both current and new markets.
E)  increasing sales of current products in current markets.F) A) and D)
G) A) and C)

Question 11

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) __________; (3) the date to finish the task;and (4) what is to be delivered.

Accepted Answer

A)  the budget
B)  the product or service
C)  the points of difference
D)  the promotional message
E)  the person responsible for completing that taskF) All of the above
G) B) and D)

Question 12

Based on the sales revenue data shown in Figure 2-11 above,as a marketing manager for Apple,you would MOST LIKELY conclude that

Accepted Answer

A)  the planning gap is narrowing.
B)  the actual sales results (line B
E)  are on track with the new plan (line B
D)  .
C)  the actual sales results (lines AB and B
E)  are on track with the plan in place since 2005 (line B
C)  .
D)  sales are increasing significantly since 2005 (line B
D)  .
E)  another new plan has been needed since 2005,since the planning gap (wedge DB
C)  is widening each year thereafter.F) B) and D)
G) A) and B)

Question 13

Many local and national chain bookstores,such as Borders and Bookstar,have closed over the past few years.This is due in part to competition from e-book readers like Amazon's Kindle and Apple's iPad,which permit the online purchase and download of digital books from their websites.Moreover,subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news.These trends have caused the newspaper StarTribune to offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition.These companies had to change their __________,an action triggered by the technological and social changes (reader preferences) that occurred in their marketing environments.

Accepted Answer

A)  organizational cultures
B)  marketing tactics
C)  business models
D)  strategic marketing processes
E)  goals or objectivesF) C) and E)
G) C) and D)

Question 14

An effective summary tool for an organization's situation analysis is referred to as (a) __________.

Accepted Answer

A)  SWOT analysis
B)  strategic management planning
C)  environmental scanning
D)  market-product grid analysis
E)  marginal analysisF) C) and E)
G) A) and C)

Question 15

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

Accepted Answer

A)  market segmentation and targeting strategy
B)  price strategy
C)  place strategy
D)  promotion strategy
E)  product/service strategyF) A) and E)
G) A) and B)

Question 16

The strategic marketing process

Accepted Answer

A)  involves 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)  is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) as though they were a collection of separate investments.
C)  describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
D)  is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
E)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) A) and B)
G) A) and C)

Question 17

An example of a nonprofit organization is

Accepted Answer

A)  the Food and Drug Administration.
B)  CVS Pharmacies.
C)  the medical technology company Medtronic,Inc.
D)  the pharmaceutical company Pfizer,Inc.
E)  the American Red Cross.F) A) and B)
G) C) and D)

Question 18

Often used interchangeably with "vision," a(n) __________ frequently has a meaningful theme and a long-term orientation.

Accepted Answer

A)  point of difference
B)  mission statement
C)  business definition
D)  core value proposition
E)  marketing planF) None of the above
G) A) and B)

Question 19

Consider Figure 2-7 above.A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages.The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits (consisting of food bars,a water filtration system,first aid supplies,etc. ) .Before going ahead with this decision,there were several factors that had to be taken into consideration: (1) The firm has a great reputation with its flashlights and does not want to ruin it.(2) Its physical plant could be refitted relatively easily to make small generators,but it would be rather costly.(3) It would have to rely on another firm to manufacture and package the survival kits.(4) Although there are nine named hurricanes scheduled for the upcoming year,no one really can predict what will happen.The company's need to refit its factory would fall in which quadrant(s) of the SWOT analysis grid?

Accepted Answer

A)  "A"
B)  "B"
C)  "C"
D)  "D"
E)  "A" and "D"F) A) and B)
G) D) and E)

Question 20

Bill McDermott is co-CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Accepted Answer

A)  business unit
B)  functional
C)  corporate
D)  strategic
E)  tacticalF) B) and C)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

An effective summary tool for an organization's situation analysis is referred to as (a) __________.

Correct Answer
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Often used interchangeably with "vision," a(n) __________ frequently has a meaningful theme and a long-term orientation.

Correct Answer
verified

The initial step in the strategic marketing process is to begin planning by conducting a

Correct Answer
verified

Based on the sales revenue data shown in Figure 2-11 above,as a marketing manager for Apple,you would MOST LIKELY conclude that

Correct Answer
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Correct Answer
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Market penetration refers to the marketing strategy of

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 strategic marketing process

Correct Answer
verified

An example of a nonprofit organization is

Correct Answer
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Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct Answer
verified

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) __________; (3) the date to finish the task;and (4) what is to be delivered.

Correct Answer
verified

At the functional level,the marketing department

Correct Answer
verified

The corporate level in an organization is where

Correct Answer
verified

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

Correct Answer
verified

Correct Answer
verified

Bill McDermott is co-CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Correct Answer
verified

Correct Answer
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Correct Answer
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In marketing,an organization refers to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

An effective summary tool for an organization's situation analysis is referred to as (a) __________.

Correct AnswerverifiedShow Answer

Often used interchangeably with "vision," a(n) __________ frequently has a meaningful theme and a long-term orientation.

Correct AnswerverifiedShow Answer

The initial step in the strategic marketing process is to begin planning by conducting a

Correct AnswerverifiedShow Answer

Based on the sales revenue data shown in Figure 2-11 above,as a marketing manager for Apple,you would MOST LIKELY conclude that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Market penetration refers to the marketing strategy of

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 strategic marketing process

Correct AnswerverifiedShow Answer

An example of a nonprofit organization is

Correct AnswerverifiedShow Answer

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) __________; (3) the date to finish the task;and (4) what is to be delivered.

Correct AnswerverifiedShow Answer

At the functional level,the marketing department

Correct AnswerverifiedShow Answer

The corporate level in an organization is where

Correct AnswerverifiedShow Answer

Introducing its Champion heart pacemaker at medical conventions across Asia to demonstrate its many beneficial features is an example of Medtronic's

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Bill McDermott is co-CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Correct AnswerverifiedShow Answer

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In marketing,an organization refers to

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The three phases of the strategic market...
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