Question 1

A(n)  ________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Accepted Answer

A)   organization
B)   business firm
C)   nonprofit
D)   offering
E)   industryF) A) and C)
G) D) and E)

Question 2

Which of the following statements regarding stakeholders is most accurate?

Accepted Answer

A)   Employees are typically not classified as a stakeholder group because they are internal to the organization.
B)   There are only three types of stakeholders: customers, suppliers, and distributors.
C)   All stakeholders are external to the organization.
D)   Stakeholders are a varied group; all are in some way affected by how well a company performs.
E)   Stakeholders are only those that have an ownership stake in an organization.F) B) and C)
G) A) and D)

Question 3

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) A) and C)
G) All of the above

Question 4

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 5

Bill McDermott is the 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) C) and D)
G) A) and D)

Question 6

________ convert an organization's mission and business into long- and short-term performance targets.

Accepted Answer

A)   Plans
B)   Tactics
C)   Strategies
D)   Goals
E)   VisionsF) B) and C)
G) A) and E)

Question 7

The logistics industry has sales of $800 billion per year. If a third-party logistics provider had sales of $8 billion, what would its market share be? Be sure to define market share and show your work in your answer.

Accepted Answer

Market share is the ratio of sales reven...

Question 8

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of which is

Accepted Answer

A)   supporting farmers who agree to use sustainable farming practices, implementing fair working standards, and investing in local communities.
B)   the intent of making modest profits without sacrificing high product quality standards.
C)   ingredients that are all completely organic and are available only in Vermont to ensure freshness and contribute to the local economy.
D)   a commitment to donating a percentage of profits to Teach for America.
E)   ingredients that come exclusively from developed countries promoting fair trade practices.F) A) and E)
G) A) and D)

Question 9

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

Question 10

Evergreen Air Center is the world's largest parking lot for unwanted commercial aircraft. Airlines pay from $750 to $5,000 monthly for the storage services provided by Evergreen. Prior to September 2001, the company had 140 discarded airplanes at its Arizona facilities and was growing at a rate of about six planes monthly with about two per month sold for parts or scrap metal. After calamity struck the airline industry in September 2001, airlines retired over 1,000 planes, and the actual number of planes stored at Evergreen differed significantly from its earlier prediction. Evergreen needed a new marketing plan; without one, the company would see a widening of the

Accepted Answer

A)   contribution margin.
B)   planning gap.
C)   marginal trend.
D)   break-even point.
E)   sales differential.F) None of the above
G) B) and E)

Question 11

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as

Accepted Answer

A)   diversification analysis.
B)   business portfolio analysis.
C)   a market-product grid framework.
D)   synergy analysis.
E)   market segmentation.F) C) and D)
G) D) and E)

Question 12

Figure 2-2
-In Figure 2-2, B represents the "what" element of visionary organization. This is referred to as

Accepted Answer

A)   organizational tactics.
B)   organizational mission.
C)   organizational foundation.
D)   organizational direction.
E)   organizational strategies.F) D) and E)
G) A) and B)

Question 13

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 health care human" and employees consistently put patients first, which unites them in a common goal. Hospital President Kathy Young believes that St. Joseph's ________ 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 E)
G) All of the above

Question 14

Diversification analysis refers to

Accepted Answer

A)   a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
B)   a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
C)   a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
D)   a technique used to determine the appeal of each SBU or offering and then the amount of cash, if any, each should receive.
E)   a framework that identifies four "generic" strategies to achieve a competitive advantage.F) A) and D)
G) B) and E)

Question 15

A planning gap is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place. The ultimate purpose of the firm's marketing program is to ________ this planning gap.

Accepted Answer

A)   calculate the contribution margin of
B)   calculate the marginal trend of
C)   create the break-even point for
D)   fill in
E)   determine the sales differential ofF) B) and D)
G) B) and C)

Question 16

An organization uses the strategic marketing process to answer all of the following questions except which?

Accepted Answer

A)   "How do our results compare with our plans?"
B)   "How do we allocate our resources to get where we want to go?"
C)   "Where do we want to go?"
D)   "Do deviations require new plans?"
E)   "How do we convert our plans into actions?"F) B) and C)
G) A) and B)

Question 17

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) All of the above
G) B) and D)

Question 18

The primary purpose of a marketing metric is to

Accepted Answer

A)   assign qualitative values to quantitative data.
B)   allow the sharing of information across product lines.
C)   measure the quantitative value of a marketing activity.
D)   forecast potential product/service opportunities over a period of five years.
E)   provide a numerically precise measurement of management judgment for an industry's growth.F) A) and D)
G) C) and D)

Question 19

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set ________ goal.

Accepted Answer

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

Question 20

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 E)
G) D) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct Answer
verified

An organization uses the strategic marketing process to answer all of the following questions except which?

Correct Answer
verified

Which of the following statements regarding stakeholders is most accurate?

Correct Answer
verified

Bill McDermott is the 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

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of which is

Correct Answer
verified

A nonprofit organization is

Correct Answer
verified

The logistics industry has sales of $800 billion per year. If a third-party logistics provider had sales of $8 billion, what would its market share be? Be sure to define market share and show your work in your answer.

Correct Answer
verified
Market share is the ratio of sales reven...
View Answer

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

Correct Answer
verified

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set ________ goal.

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

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

Correct Answer
verified

A(n) ________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Correct Answer
verified

In marketing, an organization refers to

Correct Answer
verified

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as

Correct Answer
verified

Correct Answer
verified

Figure 2-2 -In Figure 2-2, B represents the "what" element of visionary organization. This is referred to as

Correct Answer
verified

A planning gap is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place. The ultimate purpose of the firm's marketing program is to ________ this planning gap.

Correct Answer
verified

________ convert an organization's mission and business into long- and short-term performance targets.

Correct Answer
verified

Diversification analysis refers to

Correct Answer
verified

The primary purpose of a marketing metric is to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct AnswerverifiedShow Answer

An organization uses the strategic marketing process to answer all of the following questions except which?

Correct AnswerverifiedShow Answer

Which of the following statements regarding stakeholders is most accurate?

Correct AnswerverifiedShow Answer

Bill McDermott is the 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

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of which is

Correct AnswerverifiedShow Answer

A nonprofit organization is

Correct AnswerverifiedShow Answer

The logistics industry has sales of $800 billion per year. If a third-party logistics provider had sales of $8 billion, what would its market share be? Be sure to define market share and show your work in your answer.

Correct AnswerverifiedMarket share is the ratio of sales reven...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Suppose L.L. Bean, a catalog retailer, has set a goal to reduce merchandise returns by 20 percent for the holiday season. The firm would most likely have set ________ goal.

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

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

Correct AnswerverifiedShow Answer

A(n) ________ is a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Correct AnswerverifiedShow Answer

In marketing, an organization refers to

Correct AnswerverifiedShow Answer

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 2-2 -In Figure 2-2, B represents the "what" element of visionary organization. This is referred to as

Correct AnswerverifiedShow Answer

A planning gap is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place. The ultimate purpose of the firm's marketing program is to ________ this planning gap.

Correct AnswerverifiedShow Answer

________ convert an organization's mission and business into long- and short-term performance targets.

Correct AnswerverifiedShow Answer

Diversification analysis refers to

Correct AnswerverifiedShow Answer

The primary purpose of a marketing metric is to

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Market share is the ratio of sales reven...
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

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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