Question 1

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)   causes tension between different divisions when one is labeled a "star" and another a "dog."
B)   reduces employee motivation to move a low valued SBU to a higher one.
C)   considers too many SBU factors beyond market growth rate and relative market share.
D)   does not require sales forecasts in order to be implemented.
E)   is often difficult to obtain the needed information to correctly place SBUs in the matrix.F) A) and B)
G) All of the above

Question 2

Identify and describe the three phases of the strategic marketing process.

Accepted Answer

The three phases of the strategic market...

Question 3

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)   camel
D)   star
E)   question markF) All of the above
G) B) and E)

Question 4

Marketing professionals at IBM use which word to describe their marketing practices and methodologies?

Accepted Answer

A)   honest
B)   innovative
C)   customized
D)   relevant
E)   agileF) A) and D)
G) A) and C)

Question 5

A new company has an objective that its sales will exceed its expenses during its first year of operation. This is an example of which type of goal?

Accepted Answer

A)   Dollar sales revenue
B)   Profit
C)   Market share
D)   Unit sales
E)   QualityF) A) and D)
G) A) and C)

Question 6

Procter & Gamble (P&G)  is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop products like Tide Pods and Cascade Platinum that consumers love. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n)  ________ for the firm.

Accepted Answer

A)   a strength
B)   a weakness
C)   a threat
D)   an opportunity
E)   a problemF) B) and C)
G) A) and B)

Question 7

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as the

Accepted Answer

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

Question 8

Compared to marketing strategies, marketing tactics generally involve actions that

Accepted Answer

A)   are detailed day-to-day operational decisions.
B)   are long-term rather than short-term.
C)   involve upper levels of management rather than front-line managers.
D)   are general rather than specific in nature.
E)   have been successfully implemented in the past.F) B) and E)
G) A) and E)

Question 9

A marketing strategy typically addresses both the ________ and the ________.

Accepted Answer

A)   product groupings; target markets
B)   target market; marketing program
C)   subjective; objective goals
D)   revenues generated; market share achieved
E)   feasibility; time required to implementF) A) and B)
G) A) and E)

Question 10

Step 3 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)   diversification analysis.
B)   the situation (SWOT)  analysis.
C)   the marketing program.
D)   the market-product focus and customer value proposition.
E)   business portfolio analysis.F) B) and E)
G) A) and B)

Question 11

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Accepted Answer

A)   divert funds to other SBUs.
B)   reduce advertising for it.
C)   inject cash into it.
D)   reduce the feature set for it.
E)   decrease the market growth rate.F) A) and E)
G) A) and B)

Question 12

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant C would be called

Accepted Answer

A)   cash cows.
B)   stars.
C)   question marks.
D)   dogs.
E)   speedbumps.F) A) and D)
G) C) and D)

Question 13

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development)  at the ________ level, where groups of specialists actually create value for the organization.

Accepted Answer

A)   strategic
B)   corporate
C)   functional
D)   business unit
E)   tacticalF) A) and B)
G) A) and C)

Question 14

Identify and explain each of the four market-product strategies represented by each quadrant in the diversification analysis matrix.

Accepted Answer

There are four market-product strategies...

Question 15

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

Question 16

Social entrepreneurs who start new ventures such as Teach for America and FreeWill are often structured as ________ rather than business firms.

Accepted Answer

A)   business agencies
B)   nonprofit organizations
C)   government agencies
D)   cooperatives
E)   social service agenciesF) B) and D)
G) C) and D)

Question 17

Figure 2-5
-Quadrant C in Figure 2-5 above represents the marketing strategy of

Accepted Answer

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

Question 18

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

The evaluation phase of the strategic ma...

Question 19

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is its

Accepted Answer

A)   mission statement.
B)   core value proposition.
C)   organizational culture.
D)   corporate philosophy.
E)   core benefit proposition.F) B) and E)
G) C) and E)

Question 20

Which statement best describes the most significant difference between a for-profit organization or business firm and a nonprofit organization?

Accepted Answer

A)   Business firms earn a profit each year while nonprofits operate at a deficit annually.
B)   Nonprofit organizations do not carry on economic activities while business firms do.
C)   Nonprofit organizations are concerned with social issues and business firms are not.
D)   Both serve customers, but business firms seek a profit while nonprofit organizations do not.
E)   Nonprofit organizations are publicly owned and business firms are privately owned.F) A) and E)
G) C) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

A new company has an objective that its sales will exceed its expenses during its first year of operation. This is an example of which type of goal?

Correct Answer
verified

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant C would be called

Correct Answer
verified

Figure 2-5 -Quadrant C in Figure 2-5 above represents the marketing strategy of

Correct Answer
verified

Which statement best describes the most significant difference between a for-profit organization or business firm and a nonprofit organization?

Correct Answer
verified

A marketing strategy typically addresses both the and the .

Correct Answer
verified

Correct Answer
verified

Step 3 in the planning phase of the strategic marketing process consists of

Correct Answer
verified

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as the

Correct Answer
verified

Explain the steps in the evaluation phase of the strategic marketing process.

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

Compared to marketing strategies, marketing tactics generally involve actions that

Correct Answer
verified

Identify and explain each of the four market-product strategies represented by each quadrant in the diversification analysis matrix.

Correct Answer
verified
There are four market-product strategies...
View Answer

Correct Answer
verified

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Correct Answer
verified

Identify and describe the three phases of the strategic marketing process.

Correct Answer
verified
The three phases of the strategic market...
View Answer

Social entrepreneurs who start new ventures such as Teach for America and FreeWill are often structured as ________ rather than business firms.

Correct Answer
verified

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is its

Correct Answer
verified

Market share refers to

Correct Answer
verified

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the ________ level, where groups of specialists actually create value for the organization.

Correct Answer
verified

Marketing professionals at IBM use which word to describe their marketing practices and methodologies?

Correct Answer
verified

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

A new company has an objective that its sales will exceed its expenses during its first year of operation. This is an example of which type of goal?

Correct AnswerverifiedShow Answer

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant C would be called

Correct AnswerverifiedShow Answer

Figure 2-5 -Quadrant C in Figure 2-5 above represents the marketing strategy of

Correct AnswerverifiedShow Answer

Which statement best describes the most significant difference between a for-profit organization or business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

A marketing strategy typically addresses both the ________ and the ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Step 3 in the planning phase of the strategic marketing process consists of

Correct AnswerverifiedShow Answer

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as the

Correct AnswerverifiedShow Answer

Explain the steps in the evaluation phase of the strategic marketing process.

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

Compared to marketing strategies, marketing tactics generally involve actions that

Correct AnswerverifiedShow Answer

Identify and explain each of the four market-product strategies represented by each quadrant in the diversification analysis matrix.

Correct AnswerverifiedThere are four market-product strategies...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Correct AnswerverifiedShow Answer

Identify and describe the three phases of the strategic marketing process.

Correct AnswerverifiedThe three phases of the strategic market...View AnswerShow Answer

Social entrepreneurs who start new ventures such as Teach for America and FreeWill are often structured as ________ rather than business firms.

Correct AnswerverifiedShow Answer

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is its

Correct AnswerverifiedShow Answer

Market share refers to

Correct AnswerverifiedShow Answer

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the ________ level, where groups of specialists actually create value for the organization.

Correct AnswerverifiedShow Answer

Marketing professionals at IBM use which word to describe their marketing practices and methodologies?

Correct AnswerverifiedShow Answer

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

A marketing strategy typically addresses both the and the .

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified
There are four market-product strategies...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The three phases of the strategic market...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified