Question 1

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation, is referred to as a

Accepted Answer

A)  creative advantage.
B)  marketing edge.
C)  distinctive competency.
D)  competitive advantage.
E)  core benefit.F) A) and C)
G) A) and E)

Question 2

Recently, many organizations have added __________ to their mission statements.

Accepted Answer

A)  a business definition
B)  a social element to reflect an ideal that is morally right and worthwhile
C)  an economic element to promote profit maximization
D)  an expanded definition of stakeholders to include its competitors
E)  their level of pricing and product qualityF) A) and E)
G) B) and E)

Question 3

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as

Accepted Answer

A)  marketing plans.
B)  marketing programs.
C)  marketing tactics.
D)  marketing strategies.
E)  marketing procedures.F) A) and B)
G) B) and C)

Question 4

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

Accepted Answer

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

Question 5

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

Accepted Answer

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

Question 6

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of a firm's

Accepted Answer

A)  market segmentation and targeting strategy.
B)  price strategy.
C)  place strategy.
D)  promotion strategy.
E)  product/service strategy.F) B) and E)
G) None of the above

Question 7

Organizational strategies vary in two ways, depending on

Accepted Answer

A)  the strategy's level in the organization and the offerings an organization provides to its customers.
B)  the corporate level and the SBU level in the organization.
C)  whether an offering is a product or a service.
D)  whether they are mission statements or core values.
E)  the organizational culture and its core values.F) C) and D)
G) A) and D)

Question 8

Which of the following statements regarding organizational foundation is most accurate?

Accepted Answer

A)  An organizational foundation specifies its goals.
B)  An organizational foundation defines the business that it is in.
C)  An organization's foundation empowers stakeholders to have a voice in the strategic marketing process.
D)  An organization's foundation is its philosophical reason for being-why it exists.
E)  An organization's foundation is the company, its product, and its customers.F) B) and D)
G) B) and E)

Question 9

Social entrepreneurs' ventures are usually structured as

Accepted Answer

A)  business firms.
B)  subchapter S corporations.
C)  nonprofit organizations.
D)  governmental agencies.
E)  501(c) (3)  for-profit organizations.F) All of the above
G) A) and C)

Question 10

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Accepted Answer

A)  handing out "Smarter Planet" T-shirts on selected college campuses through the world
B)  providing samples of new hard drives for New York City businesses
C)  sponsoring the U.S. swim team for the 2012 Summer Olympics
D)  including a strong message in an annual report from IBM's chairman of the board and CEO
E)  garnering a celebrity endorsement from Jon Stewart, host of "The Daily Show"F) B) and E)
G) All of the above

Question 11

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

Question 12

Which of the following statements regarding organizational culture is most accurate?

Accepted Answer

A)  Organizational culture exists only at the corporate level of an organization.
B)  Organizational culture involves communicating and connecting with all of the firm's stakeholders.
C)  Organizational culture is best used only at the functional level for the most effective results.
D)  Organizational culture cannot be learned or taught.
E)  Organizational culture is a statement of the organization's function in society.F) C) and E)
G) B) and C)

Question 13

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

Question 14

Which of the following statements regarding an organization's core values is most accurate?

Accepted Answer

A)  Core values are developed by cross-functional teams for all levels of an organization.
B)  Core values are important to the founders but rarely motivate a firm's stakeholders.
C)  Core values change as an organization's offerings change.
D)  Core values guide the organization's conduct.
E)  Core values cannot be separated from the financial realities of an organization.F) A) and B)
G) B) and D)

Question 15

The corporate level of an organization is the

Accepted Answer

A)  functional level.
B)  proxy for the board of directors.
C)  level where top management directs overall strategy.
D)  most important level of the business.
E)  strategic business unit level.F) A) and C)
G) C) and D)

Question 16

To develop a successful marketing plan for a soft drink, the process of __________ would most likely be used to group consumers on the basis of whether they wanted sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.

Accepted Answer

A)  market aggregation
B)  product segmentation
C)  customer grouping
D)  mass marketing
E)  market segmentationF) C) and D)
G) B) and D)

Question 17

A marketing dashboard refers to

Accepted Answer

A)  a "report card" prepared by the marketing department regarding its performance in terms of environmental and social responsibility.
B)  the display of information found on a car's dashboard.
C)  an "app" that uses a car navigation device metaphorically to indicate the specific direction in which a company wishes to grow based on its annual marketing plan.
D)  information about an organization's marketing metrics presented orally so marketers can quickly spot deviations from plans and take corrective actions.
E)  the visual computer display of the essential information related to achieving a marketing objective.F) B) and C)
G) A) and B)

Question 18

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 distinctives.
E)  functional strategy.F) A) and E)
G) All of the above

Question 19

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Accepted Answer

The planning phase of the strategic mark...

Question 20

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 D)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Organizational strategies vary in two ways, depending on

Correct Answer
verified

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Correct Answer
verified
The planning phase of the strategic mark...
View Answer

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

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

The primary purpose of a marketing metric is to

Correct Answer
verified

Which of the following statements regarding organizational foundation is most accurate?

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 identifies its customers, markets, products, and technologies.

Correct Answer
verified

A marketing dashboard refers to

Correct Answer
verified

Recently, many organizations have added __________ to their mission statements.

Correct Answer
verified

Correct Answer
verified

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as

Correct Answer
verified

The corporate level of an organization is the

Correct Answer
verified

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of a firm's

Correct Answer
verified

Which of the following statements regarding organizational culture is most accurate?

Correct Answer
verified

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Correct Answer
verified

Which of the following statements regarding an organization's core values is most accurate?

Correct Answer
verified

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation, is referred to as a

Correct Answer
verified

Social entrepreneurs' ventures are usually structured as

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

Correct Answer
verified

To develop a successful marketing plan for a soft drink, the process of __________ would most likely be used to group consumers on the basis of whether they wanted sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Organizational strategies vary in two ways, depending on

Correct AnswerverifiedShow Answer

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Correct AnswerverifiedThe planning phase of the strategic mark...View AnswerShow Answer

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

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

The primary purpose of a marketing metric is to

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational foundation is most accurate?

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 identifies its customers, markets, products, and technologies.

Correct AnswerverifiedShow Answer

A marketing dashboard refers to

Correct AnswerverifiedShow Answer

Recently, many organizations have added __________ to their mission statements.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as

Correct AnswerverifiedShow Answer

The corporate level of an organization is the

Correct AnswerverifiedShow Answer

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of a firm's

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational culture is most accurate?

Correct AnswerverifiedShow Answer

The marketing plan for IBM's "Smarter Planet" strategy included which of the following marketing tactics?

Correct AnswerverifiedShow Answer

Which of the following statements regarding an organization's core values is most accurate?

Correct AnswerverifiedShow Answer

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation, is referred to as a

Correct AnswerverifiedShow Answer

Social entrepreneurs' ventures are usually structured as

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

Correct AnswerverifiedShow Answer

To develop a successful marketing plan for a soft drink, the process of __________ would most likely be used to group consumers on the basis of whether they wanted sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
The planning phase of the strategic mark...
View 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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified