Question 1

The marketing strategy of selling new products to current markets is referred to as

Accepted Answer

A)   product penetration.
B)   product development.
C)   market development.
D)   diversification.
E)   market penetration.F) All of the above
G) A) and E)

Question 2

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Accepted Answer

A)   corporate level.
B)   functional level.
C)   directive level.
D)   strategic level.
E)   tactical level.F) A) and E)
G) D) and E)

Question 3

A marketing plan is developed during which phase of the strategic marketing process?

Accepted Answer

A)   implementation
B)   control
C)   development
D)   planning
E)   evaluationF) B) and D)
G) B) and C)

Question 4

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) D) and E)
G) C) and E)

Question 5

Product development refers to the marketing strategy of

Accepted Answer

A)   increasing sales of current products in current markets.
B)   selling current products to new markets.
C)   selling new products to new markets.
D)   selling new products to current markets.
E)   selling the same brands in both current and new markets.F) A) and B)
G) A) and E)

Question 6

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination.It should have adopted a more rigorous __________ goal.

Accepted Answer

A)   profit
B)   sales revenue
C)   customer satisfaction
D)   employee welfare
E)   qualityF) A) and E)
G) B) and E)

Question 7

What are the four components of the implementation phase of the strategic marketing process?

Accepted Answer

The four components of the implementatio...

Question 8

Figure 2-5 
-Quadrant B in Figure 2-5 represents the marketing strategy of

Accepted Answer

A)   market penetration.
B)   product penetration.
C)   market development.
D)   product development.
E)   diversification.F) A) and B)
G) All of the above

Question 9

Figure 2-11

-Based on the information in Figure 2-11,the planning gap between 2005 and 2013,as represented by the wedge DBC,

Accepted Answer

A)   is widening.
B)   is narrowing.
C)   is staying the same.
D)   cannot be quantified.
E)   began to open inF) B) and C)
G) B) and D)

Question 10

In a typical manufacturing firm,the structure of its marketing department is typically organized from top to bottom in which of these ways?

Accepted Answer

A)   CEO to CFO to product manager
B)   CEO to CMO to product manager
C)   product manager to marketing research manager to sales manager to promotion manager
D)   industry manager to market manager to product manager
E)   product manager to CMO to sales managerF) C) and D)
G) A) and B)

Question 11

An aid to implementing a marketing plan that consists of four columns: (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 is referred to as

Accepted Answer

A)   an output report.
B)   a Gantt chart.
C)   a market plan.
D)   an action item list.
E)   a marketing action memo.F) A) and C)
G) All of the above

Question 12

An effective summary tool for an organization's situation analysis is referred to as

Accepted Answer

A)   SWOT analysis.
B)   strategic management planning.
C)   environmental scanning.
D)   market-product grid analysis.
E)   marginal analysis.F) C) and E)
G) B) and E)

Question 13

A mission statement should be

Accepted Answer

A)   short-term.
B)   inspirational.
C)   numerical.
D)   trademarked.
E)   clever.F) A) and E)
G) A) and B)

Question 14

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales?
 Give at least one example of each.

Accepted Answer

A marketing program should include produ...

Question 15

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 E)
G) A) and D)

Question 16

When using a __________ strategy,there is no change in either the basic product line or the markets served.Instead,increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Accepted Answer

A)   product development
B)   market development
C)   diversification
D)   market saturation
E)   market penetrationF) B) and E)
G) C) and D)

Question 17

Market share refers to

Accepted Answer

A)   the ratio of the profit of the firm to the total profits of all firms in the industry, excluding the firm itself.
B)   the ratio of the profit of the firm to the total profits of all firms in the industry, including the firm itself.
C)   the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, excluding the firm itself.
D)   the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
E)   the ratio of the profits of all firms in an industry to the profits of the firm.F) A) and D)
G) A) and E)

Question 18

Figure 2-1 
-In Figure 2-1,D represents the

Accepted Answer

A)   strategic business unit level.
B)   functional level.
C)   corporate level.
D)   board of directors.
E)   CMO.F) B) and D)
G) C) and D)

Question 19

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) B) and E)
G) A) and B)

Question 20

"HowAboutWe is the fastest,easiest,most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.

Accepted Answer

A)   sustainability doctrine
B)   core benefit proposition
C)   corporate philosophy
D)   mission statement
E)   code of ethicsF) A) and B)
G) A) and C)

Exam 2: Developing Successful Organizational and Marketing Strategies

Pharmavite LLC recently recalled several lots of Nature Made vitamin products due to possible salmonella or staphylococcus contamination.It should have adopted a more rigorous __________ goal.

Correct AnswerverifiedShow Answer

The strategic business unit level

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A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give at least one example of each.

Correct AnswerverifiedA marketing program should include produ...View AnswerShow Answer

A mission statement should be

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"HowAboutWe is the fastest,easiest,most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.

Correct AnswerverifiedShow Answer

Market share refers to

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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 marketing strategy of selling new products to current markets is referred to as

Correct AnswerverifiedShow Answer

In a typical manufacturing firm,the structure of its marketing department is typically organized from top to bottom in which of these ways?

Correct AnswerverifiedShow Answer

In marketing,an organization refers to

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1,D represents the

Correct AnswerverifiedShow Answer

What are the four components of the implementation phase of the strategic marketing process?

Correct AnswerverifiedThe four components of the implementatio...View AnswerShow Answer

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

Correct AnswerverifiedShow Answer

A marketing plan is developed during which phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

An aid to implementing a marketing plan that consists of four columns: (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 is referred to as

Correct AnswerverifiedShow Answer

When using a __________ strategy,there is no change in either the basic product line or the markets served.Instead,increased sales are generated by selling either more products through better promotion or distribution or the same number of products at a higher price.

Correct AnswerverifiedShow Answer

Figure 2-5 -Quadrant B in Figure 2-5 represents the marketing strategy of

Correct AnswerverifiedShow Answer

Figure 2-11 -Based on the information in Figure 2-11,the planning gap between 2005 and 2013,as represented by the wedge DBC,

Correct AnswerverifiedShow Answer

Product development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

An effective summary tool for an organization's situation analysis is referred to as

Correct AnswerverifiedShow Answer

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A marketing program should include produ...
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The four components of the implementatio...
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