Question 1

A board of directors of an organization

Accepted Answer

A)   represents the functional level.
B)   oversees the three levels of strategy.
C)   is equivalent to the corporate level.
D)   reports to the CEO.
E)   represents the strategic business unit level.F) D) and E)
G) C) and D)

Question 2

An organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers are its

Accepted Answer

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

Question 3

Objectives are

Accepted Answer

A)   the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program designed to reach it.
B)   criteria or standards used in evaluating proposed solutions to a marketing problem.
C)   statements of an accomplishment of a task to be achieved, often by a specific time.
D)   a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
E)   the detailed day-to-day operational decisions essential to the overall success of marketing strategies.F) A) and E)
G) A) and B)

Question 4

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage. This encourages a larger percentage of employees to participate in retirement planning. This is an example of ________ goal.

Accepted Answer

A)   a satisfaction
B)   a sales revenue
C)   a market share
D)   a quality
E)   an employee welfareF) None of the above
G) All of the above

Question 5

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Accepted Answer

A)   business firm
B)   subchapter S corporation
C)   service agency
D)   cooperative
E)   nonprofit organizationF) C) and E)
G) A) and B)

Question 6

Ben & Jerry's mission-driven approach led the company to successfully implement many highly creative organizational and marketing strategies. One example is

Accepted Answer

A)   ISO 9000, promoting the quality concept through its commitment to making the finest ice cream from the best ingredients.
B)   "linked prosperity," which encourages the success of all constituents including employees.
C)   Regeneration Nation, generating enough revenue for the firm to be a completely nonprofit organization.
D)   Give and Go, donating 10 percent of its net profits to local charitable causes and an additional 5 percent to support producers that practice sustainable farming.
E)   elimination of single-use plastic by discontinuing the offering of plastic straws and spoons.F) C) and D)
G) B) and E)

Question 7

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Accepted Answer

A)   core benefit proposal.
B)   product protocol.
C)   marketing program.
D)   marketing mix.
E)   customer value proposition.F) D) and E)
G) B) and C)

Question 8

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Accepted Answer

A)   innovation group.
B)   business consortium.
C)   tactical group.
D)   SWOT team.
E)   cross-functional team.F) B) and E)
G) A) and E)

Question 9

The planning gap refers to

Accepted Answer

A)   the difference between projected total costs and realized total revenues.
B)   the difference between projected total costs and net profits.
C)   the difference between marginal revenue and marginal cost.
D)   the percentage point difference between a firm and its next largest competitor in terms of market share.
E)   the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of the results of a plan already in place.F) C) and D)
G) B) and D)

Question 10

The top consumer complaint about bananas is how soon they get brown spots. Dole, a multinational agricultural company, most likely set ________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30 percent of the firm)  to make a creamy, guilt-free dessert.

Accepted Answer

A)   a profit
B)   a market share
C)   an employee welfare
D)   a customer satisfaction
E)   a social responsibilityF) B) and D)
G) None of the above

Question 11

Apple, a multimarket, multiproduct firm, manufactures and markets Apple Watch, 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 Apple Watch, iPods, iPhones, and iPa...

Question 12

The marketing program, Step 3 in the strategic planning process, answers which question?

Accepted Answer

A)   Who
B)   What
C)   When
D)   Why
E)   HowF) All of the above
G) A) and D)

Question 13

Central features of ________ include: (1)  the task; (2)  the person responsible for completing that task; (3)  the date to finish the task; and (4)  what is to be delivered.

Accepted Answer

A)   an output map
B)   a Gantt chart
C)   a market schedule
D)   a SWOT analysis
E)   a marketing action memoF) A) and B)
G) B) and D)

Question 14

The specialists within an organization who actually create value are usually a member of the

Accepted Answer

A)   strategic business unit level.
B)   functional level.
C)   corporate level.
D)   board of directors.
E)   CMO.F) None of the above
G) A) and B)

Question 15

George Zimmer, the former CEO of Men's Wearhouse, was known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring, "You'll like the way you look. I guarantee it!" He also said that to be successful, "You've got to have a company that starts with trust and fairness." Zimmer was establishing ________ for Men's Wearhouse.

Accepted Answer

A)   a vision
B)   a mission statement
C)   a pathos
D)   a behavioral protocol
E)   an organizational cultureF) A) and B)
G) C) and E)

Question 16

A marketing ________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Accepted Answer

A)   plan
B)   tactic
C)   strategy
D)   concept
E)   actionF) A) and C)
G) A) and D)

Question 17

All of the following are names the Boston Consulting Group (BCG)  has given to describe the four quadrants in its growth-share matrix except which?

Accepted Answer

A)   Dogs
B)   Stars
C)   Tortoises
D)   Cash cows
E)   Question marksF) A) and E)
G) A) and B)

Question 18

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are

Accepted Answer

A)   designated teams.
B)   strategic business units.
C)   cross-functional teams.
D)   business committees.
E)   venture squads.F) B) and E)
G) B) and D)

Question 19

Market segmentation refers to

Accepted Answer

A)   identifying small groups of customers with dissimilar needs.
B)   aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
C)   aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
D)   aggregating different products into more reasonable product groupings to better serve consumers' needs.
E)   those characteristics of a product that make it superior to competitive substitutes.F) A) and E)
G) D) and E)

Question 20

Businesses sometimes pursue ________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

Accepted Answer

A)   a customer satisfaction
B)   a shareholder
C)   a profit minimization
D)   a social responsibility
E)   an employee welfareF) C) and D)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Ben & Jerry's mission-driven approach led the company to successfully implement many highly creative organizational and marketing strategies. One example is

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Correct Answer
verified

Objectives are

Correct Answer
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All of the following are names the Boston Consulting Group (BCG) has given to describe the four quadrants in its growth-share matrix except which?

Correct Answer
verified

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct Answer
verified

An organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers are its

Correct Answer
verified

A board of directors of an organization

Correct Answer
verified

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

Correct Answer
verified
The Apple Watch, iPods, iPhones, and iPa...
View Answer

Correct Answer
verified

The planning gap refers to

Correct Answer
verified

Correct Answer
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A marketing ________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Correct Answer
verified

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are

Correct Answer
verified

Central features of ________ include: (1) the task; (2) the person responsible for completing that task; (3) the date to finish the task; and (4) what is to be delivered.

Correct Answer
verified

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct Answer
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The marketing program, Step 3 in the strategic planning process, answers which question?

Correct Answer
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Businesses sometimes pursue ________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

Correct Answer
verified

The specialists within an organization who actually create value are usually a member of the

Correct Answer
verified

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage. This encourages a larger percentage of employees to participate in retirement planning. This is an example of ________ goal.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Ben & Jerry's mission-driven approach led the company to successfully implement many highly creative organizational and marketing strategies. One example is

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

The cluster of benefits that an organization promises customers to satisfy their needs is referred to as a

Correct AnswerverifiedShow Answer

Objectives are

Correct AnswerverifiedShow Answer

All of the following are names the Boston Consulting Group (BCG) has given to describe the four quadrants in its growth-share matrix except which?

Correct AnswerverifiedShow Answer

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct AnswerverifiedShow Answer

An organization's employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers are its

Correct AnswerverifiedShow Answer

A board of directors of an organization

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedThe Apple Watch, iPods, iPhones, and iPa...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The planning gap refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A marketing ________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Correct AnswerverifiedShow Answer

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are

Correct AnswerverifiedShow Answer

Central features of ________ include: (1) the task; (2) the person responsible for completing that task; (3) the date to finish the task; and (4) what is to be delivered.

Correct AnswerverifiedShow Answer

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct AnswerverifiedShow Answer

The marketing program, Step 3 in the strategic planning process, answers which question?

Correct AnswerverifiedShow Answer

Businesses sometimes pursue ________ goal to balance the conflicting goals of stakeholders to promote their overall welfare, even at the expense of profits.

Correct AnswerverifiedShow Answer

The specialists within an organization who actually create value are usually a member of the

Correct AnswerverifiedShow Answer

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage. This encourages a larger percentage of employees to participate in retirement planning. This is an example of ________ goal.

Correct AnswerverifiedShow Answer

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The Apple Watch, iPods, iPhones, and iPa...
View Answer

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