Question 1

In 25 words of less, write a mission statement for a local community college.

Accepted Answer

By understanding its core values, an org...

Question 2

While hybrid vehicles are very fuel efficient, they are also expensive to purchase. Still, hybrid vehicles sales have a compound annual growth rate of 88.6% in recent years. Several years ago, the Honda Motor Company unveiled the hybrid version of the Honda Civic. Sales of the Civic eventually surpassed those of the Toyota Prius, making it the number one hybrid car in the U.S. For years, Honda has experienced tremendous success with their Accords; these Honda cars are the top-selling automobiles in the U.S. Where would the Honda Civic (hybrid version)  and the Honda Accord fall in the BCG business portfolio analysis matrix?

Accepted Answer

A)  The hybrid Civic is a star; the Accord is a cash cow.
B)  The hybrid Civic is a cash cow; the Accord is a star.
C)  Due to the overwhelming success of Honda cars, both the Accord and the hybrid Civic are cash cows.
D)  The hybrid Civic is a dog; the Accord is a cash cow.
E)  The hybrid Civic is a dog; the Accord is a star.F) A) and E)
G) B) and C)

Question 3

When evaluations show that actual performance differs from expectations, firms typically attempt to

Accepted Answer

A)  decide if the time horizon should be increased or decreased.
B)  perform a SWOT analysis with their major competitor as the principal focus.
C)  use statistical linear trend analysis to interpret the results.
D)  exploit a positive deviation or correct a negative deviation.
E)  adopt a market-product grid to analyze the sales results.F) A) and E)
G) C) and D)

Question 4

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

Question 5

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) None of the above
G) A) and E)

Question 6

The terms __________ and a mission statement are often used interchangeably.

Accepted Answer

A)  idea
B)  objective
C)  vision
D)  goal
E)  protocolF) C) and E)
G) A) and C)

Question 7

An effective summary tool for an organization's situation analysis is referred to as (a)  __________.

Accepted Answer

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

Question 8

SBUs with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as __________.

Accepted Answer

A)  dogs
B)  cash cows
C)  stars
D)  question marks
E)  hedgehogsF) C) and E)
G) C) and D)

Question 9

Explain the difference between competencies and competitive advantage in an organizational setting.

Accepted Answer

An organization's core competencies are ...

Question 10

An action item list refers to an aid to implement 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)  __________.

Accepted Answer

A)  the budget
B)  the points of difference
C)  what is to be delivered
D)  the promotional message
E)  the product or serviceF) All of the above
G) A) and B)

Question 11

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 has enacted a new goal, widening the __________.

Accepted Answer

A)  contribution margin
B)  planning gap
C)  marginal trend
D)  breakeven point
E)  sales differentialF) C) and D)
G) All of the above

Question 12

The key steps of planning, implementation, and evaluation are part of (the)

Accepted Answer

A)  gap analysis.
B)  strategic marketing process.
C)  situational analysis.
D)  synergy analysis.
E)  diversification analysis.F) B) and E)
G) D) and E)

Question 13

In marketing, an offering refers to

Accepted Answer

A)  the formal designation of a publicly-traded stock for a specific product, service or idea.
B)  a form of currency used by buyer and seller to minimize the tax burden for both parties.
C)  a product, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.
D)  the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers.
E)  the service suppliers and distributors provide to help manufacturers bring a product to market.F) B) and C)
G) None of the above

Question 14

Often used interchangeably with the term vision, a(n)  __________ frequently has a meaningful theme and a long-term orientation.

Accepted Answer

A)  point of difference
B)  mission statement
C)  business definition
D)  customer value proposition
E)  marketing planF) A) and D)
G) B) and E)

Question 15

GM's original first-year __________ goal for the Volt was 10,000 units, although the product was well into its second year before reaching that level.

Accepted Answer

A)  profit
B)  market share
C)  sales
D)  customer satisfaction
E)  survivalF) C) and D)
G) A) and D)

Question 16

According to Mark Zuckerberg, founder and CEO of Facebook, "We have a saying: 'Move fast and break things.' The idea is that if you never break anything, you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's

Accepted Answer

A)  sustainability doctrines.
B)  goals and objectives.
C)  core values.
D)  moral imperatives.
E)  functional strategy.F) A) and D)
G) B) and C)

Question 17

-According to Figure 2-3 above, the image shown is an example of a(n)

Accepted Answer

A)  Gantt chart.
B)  marketing dashboard.
C)  Pert chart.
D)  marketing gauge.
E)  operations spreadsheet.F) D) and E)
G) C) and D)

Question 18

-SightLife (see the logo above)  creates eye banks throughout the world. Its goal is to find cornea donors prepare their tissues for surgery. SightLife is an example of a(n)  __________.

Accepted Answer

A)  cooperative
B)  business firm
C)  industry
D)  public firm
E)  nonprofit organizationF) A) and B)
G) B) and D)

Question 19

Which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

Accepted Answer

A)  planning phase
B)  implementation phase
C)  evaluation phase
D)  strategic phase
E)  tactics phaseF) A) and B)
G) None of the above

Question 20

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

Exam 2: Developing Successful Organizational and Marketing Strategies

When evaluations show that actual performance differs from expectations, firms typically attempt to

Correct Answer
verified

-SightLife (see the logo above) creates eye banks throughout the world. Its goal is to find cornea donors prepare their tissues for surgery. SightLife is an example of a(n) __________.

Correct Answer
verified

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

Correct Answer
verified

GM's original first-year __________ goal for the Volt was 10,000 units, although the product was well into its second year before reaching that level.

Correct Answer
verified

An effective summary tool for an organization's situation analysis is referred to as (a) __________.

Correct Answer
verified

The terms __________ and a mission statement are often used interchangeably.

Correct Answer
verified

Which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

Correct Answer
verified

Explain the difference between competencies and competitive advantage in an organizational setting.

Correct Answer
verified
An organization's core competencies are ...
View Answer

In 25 words of less, write a mission statement for a local community college.

Correct Answer
verified
By understanding its core values, an org...
View Answer

Often used interchangeably with the term vision, a(n) __________ frequently has a meaningful theme and a long-term orientation.

Correct Answer
verified

Correct Answer
verified

The key steps of planning, implementation, and evaluation are part of (the)

Correct Answer
verified

-According to Figure 2-3 above, the image shown is an example of a(n)

Correct Answer
verified

According to Mark Zuckerberg, founder and CEO of Facebook, "We have a saying: 'Move fast and break things.' The idea is that if you never break anything, you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's

Correct Answer
verified

SBUs with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as __________.

Correct Answer
verified

An action item list refers to an aid to implement 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) __________.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

In marketing, an offering refers to

Correct Answer
verified

Which of the following statements regarding stakeholders is most accurate?

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

When evaluations show that actual performance differs from expectations, firms typically attempt to

Correct AnswerverifiedShow Answer

-SightLife (see the logo above) creates eye banks throughout the world. Its goal is to find cornea donors prepare their tissues for surgery. SightLife is an example of a(n) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

GM's original first-year __________ goal for the Volt was 10,000 units, although the product was well into its second year before reaching that level.

Correct AnswerverifiedShow Answer

An effective summary tool for an organization's situation analysis is referred to as (a) __________.

Correct AnswerverifiedShow Answer

The terms __________ and a mission statement are often used interchangeably.

Correct AnswerverifiedShow Answer

Which phase of the strategic marketing process does a firm obtain resources, design the marketing organization, develop schedules, and execute the marketing program?

Correct AnswerverifiedShow Answer

Explain the difference between competencies and competitive advantage in an organizational setting.

Correct AnswerverifiedAn organization's core competencies are ...View AnswerShow Answer

In 25 words of less, write a mission statement for a local community college.

Correct AnswerverifiedBy understanding its core values, an org...View AnswerShow Answer

Often used interchangeably with the term vision, a(n) __________ frequently has a meaningful theme and a long-term orientation.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The key steps of planning, implementation, and evaluation are part of (the)

Correct AnswerverifiedShow Answer

-According to Figure 2-3 above, the image shown is an example of a(n)

Correct AnswerverifiedShow Answer

According to Mark Zuckerberg, founder and CEO of Facebook, "We have a saying: 'Move fast and break things.' The idea is that if you never break anything, you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's

Correct AnswerverifiedShow Answer

SBUs with a low share of slow-growth markets that may generate enough cash to sustain themselves but do not hold the promise of ever becoming real winners for the organization are referred to as __________.

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) the person responsible for completing that task; (3) the date to finish the task; and (4) __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In marketing, an offering refers to

Correct AnswerverifiedShow Answer

Which of the following statements regarding stakeholders is most accurate?

Correct AnswerverifiedShow 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
An organization's core competencies are ...
View Answer

Correct Answer
verified
By understanding its core values, an org...
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