Question 1

Procter & Gamble (P&G)  is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop new products like Crest Whitestrips that consumers desire. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that innovation in product design and marketing is ________ for the firm.

Accepted Answer

A)   a strength
B)   a weakness
C)   a threat
D)   an opportunity
E)   a problemF) A) and B)
G) B) and C)

Question 2

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Accepted Answer

A)   situation analysis
B)   goal setting
C)   marketing program
D)   implementation
E)   market segmentationF) A) and B)
G) A) and D)

Question 3

In the BCG business portfolio model, a relative market share of 10× at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1× at the right end of the scale on its horizontal axis means that

Accepted Answer

A)   the SBU has only 10 percent of the share of its average competitor.
B)   the SBU has 100 percent of the share of its largest competitor.
C)   the growth rate between the SBU and the next largest competitor is actually identical.
D)   the SBU has only 10 percent of the share of its largest competitor.
E)   the industry growth rate is declining.F) None of the above
G) A) and C)

Question 4

The initial step in the planning phase of the strategic marketing process involves

Accepted Answer

A)   establishing the budget.
B)   developing the marketing program.
C)   setting goals.
D)   auditing the marketing plan.
E)   conducting a situation (SWOT)  analysis.F) C) and D)
G) B) and E)

Question 5

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do thing that humans simply cannot do alone is known as

Accepted Answer

A)   "The IBM Way."
B)   "Let's Put Smart to Work."
C)   "Reinvent Business."
D)   "The 2020 Road Map."
E)   "Big Blue."F) C) and D)
G) B) and E)

Question 6

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a ________ strategy.

Accepted Answer

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

Question 7

The ________ element of the marketing mix includes features and packaging.

Accepted Answer

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

Question 8

Social entrepreneurs who start new ventures such as Teach for America and NexGenVest are usually structured as ________ rather than business firms.

Accepted Answer

A)   business agencies
B)   nonprofit organizations
C)   government agencies
D)   cooperatives
E)   social service agenciesF) A) and E)
G) All of the above

Question 9

Market development refers to the marketing strategy of

Accepted Answer

A)   increasing sales of current products in current 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)   selling current products to new markets.F) C) and D)
G) A) and D)

Question 10

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

Accepted Answer

The three phases of the strategic market...

Question 11

Profit refers to

Accepted Answer

A)   the point at which a company's assets equal its liabilities plus shareholder equity.
B)   the difference between the list and final price of a product or service.
C)   the money earned when the economic order quantity is minimized.
D)   the money left over after a business firm's total expenses are subtracted from its total revenues.
E)   the total amount of revenue accrued through product sales or service distribution.F) C) and D)
G) None of the above

Question 12

Employees at fashion apparel company, The Sak Brand Group work to embody its ________, which include trust (being honest and credible) , action (making independent decisions) , and ownership (treating the company as if one were a founder) .

Accepted Answer

A)   sustainability doctrine
B)   goals and objectives
C)   core values
D)   moral imperatives
E)   functional strategyF) B) and D)
G) B) and C)

Question 13

The difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place is referred to as the

Accepted Answer

A)   planning gap.
B)   contribution margin.
C)   point of difference.
D)   break-even point.
E)   sales response function.F) A) and D)
G) A) and E)

Question 14

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 is referred to as

Accepted Answer

A)   tactical planning.
B)   market planning.
C)   goal setting.
D)   environmental scanning.
E)   situation analysis.F) C) and E)
G) A) and E)

Question 15

Business portfolio analysis refers to

Accepted Answer

A)   a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
B)   a technique that managers use to graphically track their firm's strategic business units as though they were a single expense in order to identify cost-cutting measures.
C)   a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units as though they were a collection of separate investments.
D)   an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm.
E)   a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) All of the above
G) None of the above

Question 16

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Accepted Answer

A)   do a profitability analysis.
B)   take necessary corrective actions.
C)   bring these to the marketing auditor.
D)   proceed regardless of deviations from original plans.
E)   compare the results against the goals specified in the marketing plan.F) A) and C)
G) A) and B)

Question 17

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 B)
G) A) and C)

Question 18

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

Accepted Answer

A)   customer value proposition
B)   doctrine
C)   philosophy
D)   mission
E)   code of ethicsF) B) and D)
G) D) and E)

Question 19

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Accepted Answer

A)   sustainability doctrine
B)   core benefit proposition
C)   mission statement
D)   corporate philosophy
E)   code of ethicsF) B) and D)
G) None of the above

Question 20

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Accepted Answer

A)   plans.
B)   procedures.
C)   strategies.
D)   core values.
E)   goals.F) B) and D)
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

Business portfolio analysis refers to

Correct Answer
verified

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

Correct Answer
verified

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Correct Answer
verified

The difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place is referred to as the

Correct Answer
verified

Market penetration refers to the marketing strategy of

Correct Answer
verified

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Correct Answer
verified

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do thing that humans simply cannot do alone is known as

Correct Answer
verified

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

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

Market development refers to the marketing strategy of

Correct Answer
verified

Employees at fashion apparel company, The Sak Brand Group work to embody its ________, which include trust (being honest and credible) , action (making independent decisions) , and ownership (treating the company as if one were a founder) .

Correct Answer
verified

Correct Answer
verified

Social entrepreneurs who start new ventures such as Teach for America and NexGenVest are usually structured as ________ rather than business firms.

Correct Answer
verified

The initial step in the planning phase of the strategic marketing process involves

Correct Answer
verified

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a ________ strategy.

Correct Answer
verified

The ________ element of the marketing mix includes features and packaging.

Correct Answer
verified

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Correct Answer
verified

Profit refers to

Correct Answer
verified

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 is referred to as

Correct Answer
verified

In the BCG business portfolio model, a relative market share of 10× at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1× at the right end of the scale on its horizontal axis means that

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Business portfolio analysis refers to

Correct AnswerverifiedShow Answer

By understanding its core values, an organization can take steps to define its ________, a statement of the organization's function in society that often identifies its customers, markets, products, and technologies.

Correct AnswerverifiedShow Answer

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Correct AnswerverifiedShow Answer

The difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place is referred to as the

Correct AnswerverifiedShow Answer

Market penetration refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Correct AnswerverifiedShow Answer

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do thing that humans simply cannot do alone is known as

Correct AnswerverifiedShow Answer

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

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

Market development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Employees at fashion apparel company, The Sak Brand Group work to embody its ________, which include trust (being honest and credible) , action (making independent decisions) , and ownership (treating the company as if one were a founder) .

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Social entrepreneurs who start new ventures such as Teach for America and NexGenVest are usually structured as ________ rather than business firms.

Correct AnswerverifiedShow Answer

The initial step in the planning phase of the strategic marketing process involves

Correct AnswerverifiedShow Answer

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a ________ strategy.

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes features and packaging.

Correct AnswerverifiedShow Answer

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Correct AnswerverifiedShow Answer

Profit refers to

Correct AnswerverifiedShow Answer

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 is referred to as

Correct AnswerverifiedShow Answer

In the BCG business portfolio model, a relative market share of 10× at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1× at the right end of the scale on its horizontal axis means that

Correct AnswerverifiedShow Answer

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verified
The three phases of the strategic market...
View Answer

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