Question 1

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Accepted Answer

The BCG business portfolio analysis requ...

Question 2

Today's visionary organization uses three key elements to: (1) __________; (2) set a direction;and (3) formulate strategies.

Accepted Answer

A)  set financial goals
B)  specify its foundation
C)  establish detailed marketing tactics
D)  assign job responsibilities
E)  establish an organizational chartF) C) and D)
G) A) and B)

Question 3

Marketers at Volkswagen in Istanbul created a little digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Accepted Answer

A)  tactics.
B)  missions.
C)  visions.
D)  strategies.
E)  customer values.F) A) and B)
G) A) and C)

Question 4

Customers' perceptions are of vital importance to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Accepted Answer

A)  satisfaction
B)  welfare
C)  lifetime benefit
D)  value
E)  responsibilityF) A) and B)
G) A) and C)

Question 5

Quadrant "C" in Figure 2-5 above represents the marketing strategy of __________.

Accepted Answer

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

Question 6

Rovio,the Finnish developer of Angry Birds,believes it is in the __________ business.

Accepted Answer

A)  video game
B)  entertainment
C)  amusement ride
D)  toy
E)  clothingF) A) and D)
G) B) and D)

Question 7

The terms __________ and a mission statement are often used interchangeably.

Accepted Answer

A)  idea
B)  objective
C)  vision
D)  goal
E)  protocolF) B) and D)
G) All of the above

Question 8

The two major aspects of the evaluation phase of the strategic marketing process are

Accepted Answer

A)  segmenting the market and selecting target markets.
B)  establishing a business mission and designing measurable goals and objectives.
C)  designing the marketing mix and setting the budget.
D)  comparing the results of the marketing program with the goals in the written plans to identify deviations and then to act on them.
E)  executing the marketing plan and designing the marketing organization.F) C) and D)
G) B) and E)

Question 9

Consider UMD2b: Ben & Jerry's Marketing Dashboard (Dollar Market Share) shown above.A marketing manager for Ben and Jerry's has been provided with the above marketing dashboard display.He notices that dollar market share for 2012 was 18.4% and for 2013 it was 20.0%.What simple formula was used to calculate the dollar market share percentages for each of these two years?

Accepted Answer

A)  Dollar market share (%) = Ben and Jerry's sales ($) divided by total industry sales ($) -including Ben & Jerry's sales ($) .
B)  Dollar market share (%) = Total industry sales ($) -including Ben & Jerry's sales ($) divided by Ben and Jerry's sales ($) .
C)  Dollar market share (%) = Total industry sales ($) -including Ben & Jerry's sales ($) divided by Ben and Jerry's unit sales (#) .
D)  Dollar market share (%) = Total industry sales ($) -including Ben & Jerry's sales ($) divided by Ben and Jerry's net profit ($) .
E)  Dollar market share (%) = Ben and Jerry's sales ($) divided by gross domestic product ($) .F) A) and B)
G) C) and D)

Question 10

The __________ element of the marketing mix includes discounts and allowances.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  peopleF) B) and C)
G) A) and E)

Question 11

Railroad Photo
-The railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

Accepted Answer

In his famous "Marketing Myopia" article...

Question 12

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

Question 13

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Accepted Answer

A marketing program should include produ...

Question 14

The third 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) B) and D)
G) B) and E)

Question 15

Quadrant "B" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Accepted Answer

A)  Threat
B)  Weakness
C)  Strength
D)  Opportunity
E)  Market segmentF) All of the above
G) A) and B)

Question 16

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

Question 17

A mission statement includes all of the following elements EXCEPT:

Accepted Answer

A)  short-term.
B)  inspirational.
C)  clear.
D)  meaningful.
E)  concise.F) A) and E)
G) All of the above

Question 18

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself,is referred to as [a]

Accepted Answer

A)  sales proportionality.
B)  marketing metric.
C)  industry potential.
D)  contribution margin.
E)  market share.F) A) and B)
G) A) and C)

Question 19

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Accepted Answer

A)  with the goal of generating enough revenue to be a completely nonprofit organization.
B)  on a sustainable financial basis of profitable growth,increasing value for our stakeholders and expanding opportunities for development and career growth for our employees.
C)  with the goal of making profits for selected charitable organizations such as Fair Trade.
D)  with the goal of increasing market share not only in ice cream sales but also in its retail clothing and accessories merchandise lines.
E)  with the goal of expanding into international markets by developing sustainable dairies for developing nations.F) A) and E)
G) All of the above

Question 20

A nonprofit organization is

Accepted Answer

A)  a nongovernmental organization that serves its customers but does not have profit as an organizational goal.
B)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C)  a publicly owned organization that serves the general population.
D)  a group of people united through contractual or corporate ownership.
E)  a privately owned organization that serves its customers to earn a profit so that it can survive.F) C) and D)
G) All of the above

Exam 2: Developing Successful Organizational and Marketing Strategies

A nonprofit organization is

Correct Answer
verified

Correct Answer
verified

The terms __________ and a mission statement are often used interchangeably.

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

A mission statement includes all of the following elements EXCEPT:

Correct Answer
verified

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Correct Answer
verified

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself,is referred to as [a]

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct Answer
verified
A marketing program should include produ...
View Answer

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

Correct Answer
verified

Today's visionary organization uses three key elements to: (1) __________; (2) set a direction;and (3) formulate strategies.

Correct Answer
verified

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Correct Answer
verified
The BCG business portfolio analysis requ...
View Answer

Customers' perceptions are of vital importance to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Correct Answer
verified

The two major aspects of the evaluation phase of the strategic marketing process are

Correct Answer
verified

Quadrant "C" in Figure 2-5 above represents the marketing strategy of __________.

Correct Answer
verified

The __________ element of the marketing mix includes discounts and allowances.

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

Quadrant "B" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Correct Answer
verified

Railroad Photo -The railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20^th century? What business is a railroad firm really in? Why?

Correct Answer
verified
In his famous "Marketing Myopia" article...
View Answer

Marketers at Volkswagen in Istanbul created a little digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Correct Answer
verified

Rovio,the Finnish developer of Angry Birds,believes it is in the __________ business.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

A nonprofit organization is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The terms __________ and a mission statement are often used interchangeably.

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

A mission statement includes all of the following elements EXCEPT:

Correct AnswerverifiedShow Answer

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Correct AnswerverifiedShow Answer

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself,is referred to as [a]

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct AnswerverifiedA marketing program should include produ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Today's visionary organization uses three key elements to: (1) __________; (2) set a direction;and (3) formulate strategies.

Correct AnswerverifiedShow Answer

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Correct AnswerverifiedThe BCG business portfolio analysis requ...View AnswerShow Answer

Customers' perceptions are of vital importance to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Correct AnswerverifiedShow Answer

The two major aspects of the evaluation phase of the strategic marketing process are

Correct AnswerverifiedShow Answer

Quadrant "C" in Figure 2-5 above represents the marketing strategy of __________.

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix includes discounts and allowances.

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

Quadrant "B" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

Railroad Photo -The railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

Correct AnswerverifiedIn his famous "Marketing Myopia" article...View AnswerShow Answer

Marketers at Volkswagen in Istanbul created a little digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Correct AnswerverifiedShow Answer

Rovio,the Finnish developer of Angry Birds,believes it is in the __________ business.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A marketing program should include produ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The BCG business portfolio analysis requ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Railroad Photo -The railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20^th century? What business is a railroad firm really in? Why?

Correct Answer
verified
In his famous "Marketing Myopia" article...
View Answer

Correct Answer
verified

Correct Answer
verified