Question 1

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) C) and D)

Question 2

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 D)
G) A) and D)

Question 3

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 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 4

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Accepted Answer

A)  unit sales goal.
B)  market share goal.
C)  social responsibility goal.
D)  sales revenue goal.
E)  customer satisfaction goal.F) C) and E)
G) None of the above

Question 5

In marketing,an offering refers to

Accepted Answer

A)  the formal designation of a publicly traded stock for a specific product,service,or idea.
B)  a form of currency used by buyer and seller to minimize the tax burden for both parties.
C)  a good,service,or idea that creates value for both the organization and its customers by satisfying their needs and wants.
D)  the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers.
E)  the service suppliers and distributors provide to help manufacturers bring a product to market.F) B) and E)
G) B) and C)

Question 6

The Ben & Jerry's website states: "Central to the mission of Ben & Jerry's is the belief that all three parts [product mission,economic mission,social mission] must thrive equally in a manner that commands deep respect for individuals in and outside the company and supports the communities of which they are a part." This statement reflects Ben & Jerry's

Accepted Answer

A)  sustainability doctrine.
B)  goals and objectives.
C)  core values.
D)  moral distinctions.
E)  functional strategy.F) B) and E)
G) A) and E)

Question 7

Figure 2-5
 
-Quadrant A in Figure 2-5 above represents the marketing strategy of

Accepted Answer

A)  market penetration.
B)  product development.
C)  market development.
D)  product penetration.
E)  diversification.F) None of the above
G) C) and D)

Question 8

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

Question 9

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Accepted Answer

A)  Product development
B)  Product-market evolution
C)  Market development
D)  Market penetration
E)  DiversificationF) A) and C)
G) None of the above

Question 10

An organization's foundation can be broken into three key elements:

Accepted Answer

A)  products,services,and ideas.
B)  business definition,long-term goals,and short-term objectives.
C)  board of directors,top management,and stakeholders.
D)  corporate-level strategies,SBU-level strategies,and functional-level strategies.
E)  core values,mission/vision,and organizational culture.F) A) and D)
G) A) and C)

Question 11

Figure 2-11
 
-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 2005 plan (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) A) and C)
G) A) and D)

Question 12

The strategic business unit level

Accepted Answer

A)  works most directly with the organization's target customers.
B)  directs the overall strategy for the organization.
C)  is most likely to change substantially over time.
D)  provides more end-user analysis in order to design more customer-directed products.
E)  defines a more specific strategic direction to exploit value-creating opportunities.F) A) and D)
G) B) and E)

Question 13

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 iPads,...

Question 14

Teach for America works to solve which societal problem?

Accepted Answer

A)  It provides new college graduates as teachers in urban and rural public schools in the United States.
B)  It works to end corneal blindness worldwide by training doctors to do corneal surgeries,finding cornea donors and creating tissue banks.
C)  It provides education,training,and small business loans to women in impoverished areas so that they can help themselves.
D)  It offers free access to graduate education for injured U.S.veterans returning from overseas conflict.
E)  It offers tax credits to small businesses to employ at-risk youth in their communities.F) A) and E)
G) B) and C)

Question 15

Objectives refer to

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 B)
G) All of the above

Question 16

Step 2 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)  the situation (SWOT) analysis.
B)  market-product focus and goal setting.
C)  the marketing program.
D)  business portfolio analysis.
E)  diversification analysis.F) A) and E)
G) C) 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)  Slugs
D)  Cash cows
E)  Question marksF) A) and E)
G) All of the above

Question 18

While hybrid vehicles are very fuel-efficient,they are also expensive to purchase.Still,hybrid vehicles sales have a compound annual growth rate of 88.6 percent in recent years.Several years ago,the Honda Motor Co.unveiled the hybrid version of the Honda Civic.Sales of the Civic eventually surpassed those of the Toyota Prius,making it the top-selling hybrid car in the United States.For years,Honda has experienced tremendous success with its Accords;these Honda cars are the top-selling automobiles in the United States.Where would the Honda Civic (hybrid version) and the Honda Accord fall in the BCG business portfolio analysis matrix?

Accepted Answer

A)  The hybrid Civic is a star;the Accord is a cash cow.
B)  The hybrid Civic is a cash cow;the Accord is a star.
C)  Due to the overwhelming success of Honda cars,both the Accord and the hybrid Civic are cash cows.
D)  The hybrid Civic is a dog;the Accord is a cash cow.
E)  The hybrid Civic is a dog;the Accord is a star.F) A) and B)
G) A) and C)

Question 19

Figure 2-3b
 
-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) All of the above
G) B) and C)

Question 20

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) B) and D)
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct Answer
verified

Correct Answer
verified

Figure 2-11 -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
verified

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 strategic marketing process

Correct Answer
verified

Teach for America works to solve which societal problem?

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

An organization's foundation can be broken into three key elements:

Correct Answer
verified

In marketing,an offering refers to

Correct Answer
verified

The strategic business unit level

Correct Answer
verified

Objectives refer to

Correct Answer
verified

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

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 iPads,...
View Answer

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Correct Answer
verified

Correct Answer
verified

Step 2 in the planning phase of the strategic marketing process consists of

Correct Answer
verified

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

Correct Answer
verified

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 Answer
verified

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Correct Answer
verified

Figure 2-5 -Quadrant A in Figure 2-5 above represents the marketing strategy of

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 2-11 -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

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 strategic marketing process

Correct AnswerverifiedShow Answer

Teach for America works to solve which societal problem?

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

An organization's foundation can be broken into three key elements:

Correct AnswerverifiedShow Answer

In marketing,an offering refers to

Correct AnswerverifiedShow Answer

The strategic business unit level

Correct AnswerverifiedShow Answer

Objectives refer to

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

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 iPads,...View AnswerShow Answer

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Step 2 in the planning phase of the strategic marketing process consists of

Correct AnswerverifiedShow Answer

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

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

Which of the marketing strategies for expanding sales revenue presents the most risk for an organization?

Correct AnswerverifiedShow Answer

Figure 2-5 -Quadrant A in Figure 2-5 above represents the marketing strategy of

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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