Question 1

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1)  the task; (2)  __________; (3)  the date to finish the task; and (4)  what is to be delivered.

Accepted Answer

A)  the budget
B)  the product or service
C)  the points of difference
D)  the promotional message
E)  the person responsible for completing that taskF) C) and D)
G) A) and B)

Question 2

Several years ago, Black & Decker purchased General Electric's small appliances product line. Black & Decker purchased the line because it needed the cash generated from a product line that had a dominant market share in the slow-growth small appliance industry. GE's small appliances product line is most likely a __________ for Black & Decker.

Accepted Answer

A)  dog
B)  cash cow
C)  question mark
D)  star
E)  hedgehogF) B) and C)
G) B) and E)

Question 3

-An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as

Accepted Answer

A)  points of differences.
B)  sustainable advantages.
C)  core values.
D)  points of similarity.
E)  competencies.F) D) and E)
G) C) and D)

Question 4

With a marketing dashboard, a marketing manager can glance at all of the following EXCEPT:

Accepted Answer

A)  the time frame for which the data are presented.
B)  a graph.
C)  a table.
D)  a printed report.
E)  a map.F) A) and B)
G) All of the above

Question 5

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Accepted Answer

The evaluation phase of the strategic ma...

Question 6

A firm may have a goal to offer its customers the highest __________, as Medtronic does with its implantable medical devices.

Accepted Answer

A)  innovation
B)  quality
C)  service
D)  value
E)  warrantyF) A) and C)
G) C) and D)

Question 7

In the 1980s, a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super heavy-weight market segment - motorcycles with engine capacity of 850 cubic centimeters or more - shrunk from over 40 percent in the mid 1970s to 23 percent in 1983. But by 1989, Harley-Davidson controlled some 65 percent of this market segment. From a marketing perspective, what was the most likely first step in Harley-Davidson's resurgence?

Accepted Answer

A)  developing a new mission statement
B)  repositioning its products in the minds of super heavy-weight motorcycle buyers
C)  performing a SWOT analysis to assess the firm's internal and external environments.
D)  selling new models of super heavy-weight motorcycles in both the U.S. (current)  and foreign (new)  markets
E)  improving the quality of its products and communicating this to motorcycle buyersF) A) and E)
G) A) and C)

Question 8

-Lego has traditionally been successful selling its classic construction sets to boys. Recently, Lego introduced a line of building toys especially for girls called Lego Friends. It includes feminine characters, pink and purple theme colors, and allows girls to construct more story-related activities. The company felt this was a way to reach into the girl's toy market where alternatives include princess games and accessories. Considering Figure 2-5 above, this is an example of a __________ strategy that would be found in quadrant __________.

Accepted Answer

A)  market penetration; A
B)  product development; B
C)  diversification; D
D)  market development; C
E)  product-market expansion; DF) All of the above
G) A) and E)

Question 9

A marketing strategy refers 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 to reach it.
B)  the tactical decisions made to implement the marketing program.
C)  a technique to quantify performance measures and growth targets of a firm's strategic business units (SBUs) .
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.F) C) and D)
G) B) and E)

Question 10

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

Question 11

A for-profit organization refers to

Accepted Answer

A)  a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
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 privately owned organization that serves its customers to earn a profit so that it can survive.
D)  a group of people united through contractual or corporate ownership.
E)  a publicly owned organization that serves the general population.F) C) and D)
G) None of the above

Question 12

Successful organizations must be visionary, which includes the ability to

Accepted Answer

A)  develop strategies based on those that were successful in the past.
B)  be backward-looking, examining the past carefully to learn from mistakes.
C)  anticipate future events and respond quickly and effectively.
D)  hire the most culturally diverse team possible in order to generate the best new ideas.
E)  involve all stakeholders of the organization when defining its business mission.F) B) and C)
G) C) and D)

Question 13

-In Figure 2-1 above, C represents the

Accepted Answer

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

Question 14

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Accepted Answer

A)  chief executive officer.
B)  corporate marketing official.
C)  coordinating marketing officer.
D)  chief marketing officer.
E)  corporate marketing executiveF) C) and D)
G) B) and C)

Question 15

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Accepted Answer

A)  micromarketing; macromarketing
B)  business portfolio; diversification
C)  investment; divestment
D)  dashboards; metrics
E)  subjective; objectiveF) All of the above
G) A) and E)

Question 16

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) B) and C)
G) B) and D)

Question 17

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 (SBUs)  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) D) and E)
G) A) and E)

Question 18

A marketing strategy to increase sales of current products in current markets is referred to as

Accepted Answer

A)  market penetration.
B)  market development.
C)  product development.
D)  diversification.
E)  marketing synergy.F) A) and E)
G) A) and D)

Question 19

An organization uses the strategic marketing process to answer all of the following questions EXCEPT:

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

Question 20

In the Boston Consulting Group (BCG)  model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects __________.

Accepted Answer

A)  market growth rate
B)  marketing efficiencies
C)  industry attractiveness
D)  market segment size
E)  relative market shareF) D) and E)
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
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What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct Answer
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The evaluation phase of the strategic ma...
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An organization uses the strategic marketing process to answer all of the following questions EXCEPT:

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

Correct Answer
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-An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as

Correct Answer
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A marketing strategy refers to

Correct Answer
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With a marketing dashboard, a marketing manager can glance at all of the following EXCEPT:

Correct Answer
verified

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects __________.

Correct Answer
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Correct Answer
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The strategic marketing process

Correct Answer
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An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) __________; (3) the date to finish the task; and (4) what is to be delivered.

Correct Answer
verified

Successful organizations must be visionary, which includes the ability to

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

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct Answer
verified

Correct Answer
verified

A for-profit organization refers to

Correct Answer
verified

A firm may have a goal to offer its customers the highest __________, as Medtronic does with its implantable medical devices.

Correct Answer
verified

A marketing strategy to increase sales of current products in current markets is referred to as

Correct Answer
verified

-In Figure 2-1 above, C represents the

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Correct AnswerverifiedShow Answer

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct AnswerverifiedThe evaluation phase of the strategic ma...View AnswerShow Answer

An organization uses the strategic marketing process to answer all of the following questions EXCEPT:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

-An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as

Correct AnswerverifiedShow Answer

A marketing strategy refers to

Correct AnswerverifiedShow Answer

With a marketing dashboard, a marketing manager can glance at all of the following EXCEPT:

Correct AnswerverifiedShow Answer

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The strategic marketing process

Correct AnswerverifiedShow Answer

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) __________; (3) the date to finish the task; and (4) what is to be delivered.

Correct AnswerverifiedShow Answer

Successful organizations must be visionary, which includes the ability to

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

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A for-profit organization refers to

Correct AnswerverifiedShow Answer

A firm may have a goal to offer its customers the highest __________, as Medtronic does with its implantable medical devices.

Correct AnswerverifiedShow Answer

A marketing strategy to increase sales of current products in current markets is referred to as

Correct AnswerverifiedShow Answer

-In Figure 2-1 above, C represents the

Correct AnswerverifiedShow Answer

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
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Correct Answer
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The evaluation phase of the strategic ma...
View Answer

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Correct Answer
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