Question 1

Marketing tactics refer to the

Accepted Answer

A)  long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)  steps taken to develop an effective marketing plan.
D)  development of marketing strategies to achieve the organization's marketing objectives.
E)  refinement of the organization's mission based on the results obtained from a marketing audit.F) A) and D)
G) A) and C)

Question 2

Nest markets the Learning Thermostat (see the photo above) that "learns" home to optimize your home's heat and air conditioning.The Learning Thermostat,which can be controlled remotely by a smartphone to change the temperature,currently sells for $250.Nest is an example of a(n) __________.

Accepted Answer

A)  cooperative
B)  business firm
C)  industry
D)  nonprofit organization
E)  public firmF) All of the above
G) B) and E)

Question 3

Figure 2-5
-Based on Figure 2-5 above,identify and explain each of the four market-product strategies represented by each quadrant ("A," "B," "C," and "D")in the diversification analysis matrix.

Accepted Answer

The market-product strategies include: (...

Question 4

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) All of the above
G) A) and C)

Question 5

In keeping with its business mission,Ben & Jerry's

Accepted Answer

A)  created a children's TV program with cat and mouse cartoon characters "Ben" and "Jerry" to teach about the importance of good nutrition and Fair Trade sustainable business practices.
B)  offered to buy out any failing family-owned ice cream parlor and turn it into a ScoopShop franchise.
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk.
D)  committed to buying its milk and cream from a dairy cooperative that guarantees the supplies are bovine growth hormone free.
E)  donated free ice cream coupons to all children who get good grades in school.F) A) and D)
G) D) and E)

Question 6

What is an organization's mission? What are some elements of a well-written mission statement?

Accepted Answer

By understanding its core values,an orga...

Question 7

The question mark (?) represented by the wedge DBC in Figure 2-11 above is the __________.

Accepted Answer

A)  contribution margin
B)  marginal trend
C)  breakeven point
D)  planning gap
E)  sales differentialF) A) and C)
G) None of the above

Question 8

The organizational foundation sets the "__________" of organizations;the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Accepted Answer

A)  when;why;what
B)  why;what;how
C)  what;how;why
D)  what;where;how
E)  how;where;whatF) A) and C)
G) A) and E)

Question 9

David and Cecilia Stanford,owners of Prairie Herb vinegars,decided to offer the product in 5-ounce and 13-ounce sizes.They decided to sell the vinegar only through the mail and to price the smaller bottle at $4.45 and the largest bottle at $13.25.These actions consist of Prairie Herb's marketing

Accepted Answer

A)  missions.
B)  visions.
C)  strategies.
D)  tactics.
E)  customer values.F) B) and C)
G) A) and D)

Question 10

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals.Due to the resources it makes available to its scientists and researchers,the company has a number of Nobel Prize winners working in its laboratories.This ability to employ some of the finest minds in the world is an example of a

Accepted Answer

A)  point of similarity.
B)  competency.
C)  sustainable advantage.
D)  product development strategy.
E)  human resource strategy.F) B) and C)
G) A) and E)

Question 11

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) D) and E)
G) All of the above

Question 12

Apple,a multimarket,multiproduct firm,manufactures and markets iMacs,iPods,iPhones,and iPads as a portfolio of businesses.At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Accepted Answer

The iMacs,iPods,iPhones,and iPads,which ...

Question 13

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.

Accepted Answer

A)  business
B)  commerce
C)  marketing
D)  competitive set
E)  product groupingF) B) and C)
G) A) and D)

Question 14

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

Question 15

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Accepted Answer

A)  "The IBM Way."
B)  "Smarter Planet."
C)  "Reinvent Business."
D)  "The 2015 Road Map."
E)  "Big Blue."F) B) and E)
G) D) and E)

Question 16

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Accepted Answer

A)  research the organization's present and prospective customers.
B)  determine what business the organization is in.
C)  assess the organization itself.
D)  identify trends in the organization's industry.
E)  analyze the organization's competitors.F) B) and E)
G) A) and C)

Question 17

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 proceduresF) C) and D)
G) A) and B)

Question 18

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

Accepted Answer

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

Question 19

A competitive advantage refers to

Accepted Answer

A)  the cluster of benefits that an organization promises customers to satisfy their needs.
B)  those characteristics of a product that make it superior to competitive substitutes.
C)  a unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation.
D)  actions taken by a firm with the sole intent of putting a competitor out of business.
E)  the added value given to a product beyond the functional benefits provided.F) D) and E)
G) A) and E)

Question 20

Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________,including the firm itself.

Accepted Answer

A)  firms in the industry
B)  firms in the competitive set
C)  firms in the WTO
D)  product groupings
E)  domestic firms in a countryF) A) and E)
G) B) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct Answer
verified

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.

Correct Answer
verified

Which of the following statements regarding stakeholders is MOST ACCURATE?

Correct Answer
verified

Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________,including the firm itself.

Correct Answer
verified

Apple,a multimarket,multiproduct firm,manufactures and markets iMacs,iPods,iPhones,and iPads as a portfolio of businesses.At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Correct Answer
verified
The iMacs,iPods,iPhones,and iPads,which ...
View Answer

David and Cecilia Stanford,owners of Prairie Herb vinegars,decided to offer the product in 5-ounce and 13-ounce sizes.They decided to sell the vinegar only through the mail and to price the smaller bottle at $4.45 and the largest bottle at $13.25.These actions consist of Prairie Herb's marketing

Correct Answer
verified

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Correct Answer
verified

Correct Answer
verified

What is an organization's mission? What are some elements of a well-written mission statement?

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

In keeping with its business mission,Ben & Jerry's

Correct Answer
verified

Figure 2-5 -Based on Figure 2-5 above,identify and explain each of the four market-product strategies represented by each quadrant ("A," "B," "C," and "D")in the diversification analysis matrix.

Correct Answer
verified
The market-product strategies include: (...
View Answer

Marketing tactics refer to the

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 question mark (?) represented by the wedge DBC in Figure 2-11 above is the __________.

Correct Answer
verified

The organizational foundation sets the "" of organizations;the organization direction sets the ";" and organizational strategies are concerned with the "__."

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

Nest markets the Learning Thermostat (see the photo above) that "learns" home to optimize your home's heat and air conditioning.The Learning Thermostat,which can be controlled remotely by a smartphone to change the temperature,currently sells for $250.Nest is an example of a(n) __________.

Correct Answer
verified

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 Answer
verified

A competitive advantage refers to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient,productive,and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct AnswerverifiedShow Answer

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding stakeholders is MOST ACCURATE?

Correct AnswerverifiedShow Answer

Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________,including the firm itself.

Correct AnswerverifiedShow Answer

Apple,a multimarket,multiproduct firm,manufactures and markets iMacs,iPods,iPhones,and iPads as a portfolio of businesses.At what organizational level does Apple set the strategic direction for these businesses to create customer value?

Correct AnswerverifiedThe iMacs,iPods,iPhones,and iPads,which ...View AnswerShow Answer

David and Cecilia Stanford,owners of Prairie Herb vinegars,decided to offer the product in 5-ounce and 13-ounce sizes.They decided to sell the vinegar only through the mail and to price the smaller bottle at $4.45 and the largest bottle at $13.25.These actions consist of Prairie Herb's marketing

Correct AnswerverifiedShow Answer

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is an organization's mission? What are some elements of a well-written mission statement?

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

In keeping with its business mission,Ben & Jerry's

Correct AnswerverifiedShow Answer

Figure 2-5 -Based on Figure 2-5 above,identify and explain each of the four market-product strategies represented by each quadrant ("A," "B," "C," and "D")in the diversification analysis matrix.

Correct AnswerverifiedThe market-product strategies include: (...View AnswerShow Answer

Marketing tactics refer to the

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 question mark (?) represented by the wedge DBC in Figure 2-11 above is the __________.

Correct AnswerverifiedShow Answer

The organizational foundation sets the "__________" of organizations;the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Nest markets the Learning Thermostat (see the photo above) that "learns" home to optimize your home's heat and air conditioning.The Learning Thermostat,which can be controlled remotely by a smartphone to change the temperature,currently sells for $250.Nest is an example of a(n) __________.

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

A competitive advantage refers to

Correct AnswerverifiedShow Answer

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verified
The iMacs,iPods,iPhones,and iPads,which ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified
The market-product strategies include: (...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The organizational foundation sets the "" of organizations;the organization direction sets the ";" and organizational strategies are concerned with the "__."

Correct Answer
verified

Correct Answer
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