Question 1

Ben & Jerry's Marketing Dashboard (Dollar Sales and Market Share) 
-Consider the Ben & Jerry's Dollar Sales and Market Share graph. A marketing manager for Ben & Jerry's notices that dollar market share for 2017 was 18.4 percent and for 2018 it was 20.0 percent. What simple formula was used to calculate the dollar market share percentages for each of these two years?

Accepted Answer

A)   Dollar market share (%)  = Ben & Jerry's sales ($) /Total industry sales, including Ben & Jerry's sales ($) .
B)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's sales ($) .
C)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's unit sales (#) .
D)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's net profit ($) .
E)   Dollar market share (%)  = Ben & Jerry's sales ($) /Gross domestic product ($) .F) C) and D)
G) D) and E)

Question 2

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Accepted Answer

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

Question 3

Strategic business units (SBUs)  with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

Accepted Answer

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

Question 4

An industry refers to

Accepted Answer

A)   organizations that develop similar offerings.
B)   organizations that manufacture identical products to meet ISO 9000 specifications.
C)   companies that are active in the production of materials used in finished products.
D)   a group of people or firms united through strategic alliances.
E)   the economic activity concerned with the selling of finished products to wholesalers and retailers.F) B) and C)
G) A) and E)

Question 5

A mission statement should be

Accepted Answer

A)   short-term.
B)   concise.
C)   numerical.
D)   trademarked.
E)   clever.F) None of the above
G) All of the above

Question 6

Figure 2-1
-In Figure 2-1, E represents the ________ operating at the lowest strategic level.

Accepted Answer

A)   board of directors
B)   corporate level
C)   departments
D)   executives
E)   strategic business unit levelF) A) and B)
G) None of the above

Question 7

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

Accepted Answer

A)   the tactical marketing process.
B)   situational analysis.
C)   diversification analysis.
D)   synergy analysis.
E)   the strategic marketing process.F) None of the above
G) B) and C)

Question 8

Which of the following statements about strategy is most accurate?

Accepted Answer

A)   An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B)   The marketing department helps to both set an organization's direction and move it there.
C)   The American Marketing Association (AM
A)   recently has established the definition of strategy.
D)   Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E)   Only start-up organizations must develop strategies to help them raise capital as well as focus and direct their efforts to accomplish their goals.F) All of the above
G) C) and E)

Question 9

The marketing strategy of developing new products and selling them in new markets is referred to as

Accepted Answer

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

Question 10

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Accepted Answer

Theodore Levitt argues that senior manag...

Question 11

Identify and describe the three steps of the planning phase of the strategic marketing process.

Accepted Answer

Step 1: situation (SWOT) analysis is an ...

Question 12

An action item list refers to an aid to implement a marketing plan that consists of four columns, including which of these?

Accepted Answer

A)   the person responsible to complete a task
B)   the budget
C)   the product or service
D)   the points of difference
E)   the promotional messageF) B) and E)
G) B) and D)

Question 13

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Accepted Answer

A)   starting the planning process anew.
B)   executing the marketing program.
C)   tracking unit sales and revenues and comparing with competitors.
D)   developing the budget by estimating revenues, expenses, and profits.
E)   exploiting positive deviations and correcting negative ones.F) C) and D)
G) A) and E)

Question 14

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 goal setting.
E)   business portfolio analysis.F) B) and C)
G) B) and D)

Question 15

________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A)   A marketing metric
B)   An output report
C)   A marketing dashboard
D)   An information monitor
E)   A data interfaceF) D) and E)
G) A) and D)

Question 16

Which of the following statements regarding a marketing dashboard is most accurate?

Accepted Answer

A)   The more text (words)  that is displayed, the better it is for a marketing manager to identify trends, interpret the data, and take corrective actions.
B)   A marketing dashboard very often includes 20 or more marketing metrics on the computer screen.
C)   Marketing dashboards provide graphic displays of a product's performance, such as sales, website traffic, etc.
D)   For accuracy, the marketing dashboard should be updated weekly.
E)   Marketing dashboards often show key measures such as human resource turnover, strategy success, and societal well-being.F) B) and C)
G) A) and D)

Question 17

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 percent in recent years. Several years ago, the Honda Motor Co. unveiled the hybrid version of the Honda Civic. Sales of the Civic eventually surpassed those of the Toyota Prius, making it the top-selling hybrid car in the United States. For years, Honda has experienced tremendous success with its Accords; these Honda cars are the top-selling automobiles in the United States. 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) B) and E)
G) B) and D)

Question 18

In the Boston Consulting Group (BCG)  business portfolio 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 share.F) B) and C)
G) A) and E)

Question 19

All of the following are names the Boston Consulting Group (BCG)  has given to describe the four quadrants in its growth-share matrix except which?

Accepted Answer

A)   dogs
B)   stars
C)   sloths
D)   cash cows
E)   question marksF) C) and E)
G) All of the above

Question 20

In the 20th century, leadership of the railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the ________ business.

Accepted Answer

A)   transportation
B)   transcontinental shipping
C)   passenger travel
D)   product delivery
E)   bulk cargoF) C) and D)
G) C) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements about strategy is most accurate?

Correct Answer
verified

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Correct Answer
verified

A mission statement should be

Correct Answer
verified

Identify and describe the three steps of the planning phase of the strategic marketing process.

Correct Answer
verified
Step 1: situation (SWOT) analysis is an ...
View Answer

Strategic business units (SBUs) with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

Correct Answer
verified

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

Correct Answer
verified

An industry refers to

Correct Answer
verified

All of the following are names the Boston Consulting Group (BCG) has given to describe the four quadrants in its growth-share matrix except which?

Correct Answer
verified

Correct Answer
verified

In the 20th century, leadership of the railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the ________ business.

Correct Answer
verified

Which of the following statements regarding a marketing dashboard is most accurate?

Correct Answer
verified

An action item list refers to an aid to implement a marketing plan that consists of four columns, including which of these?

Correct Answer
verified

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

Correct Answer
verified

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

Correct Answer
verified

Figure 2-1 -In Figure 2-1, E represents the ________ operating at the lowest strategic level.

Correct Answer
verified

________ is the visual computer display of the essential information related to achieving a marketing objective.

Correct Answer
verified

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Correct Answer
verified

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct Answer
verified
Theodore Levitt argues that senior manag...
View Answer

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct Answer
verified

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements about strategy is most accurate?

Correct AnswerverifiedShow Answer

The actions taken during the evaluation phase of the strategic marketing process include comparing results with plans to identify deviations and

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

Identify and describe the three steps of the planning phase of the strategic marketing process.

Correct AnswerverifiedStep 1: situation (SWOT) analysis is an ...View AnswerShow Answer

Strategic business units (SBUs) with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

An industry refers to

Correct AnswerverifiedShow Answer

All of the following are names the Boston Consulting Group (BCG) has given to describe the four quadrants in its growth-share matrix except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the 20th century, leadership of the railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the ________ business.

Correct AnswerverifiedShow Answer

Which of the following statements regarding a marketing dashboard is most accurate?

Correct AnswerverifiedShow Answer

An action item list refers to an aid to implement a marketing plan that consists of four columns, including which of these?

Correct AnswerverifiedShow Answer

An approach whereby an organization allocates its marketing mix resources to reach its target markets is referred to as

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1, E represents the ________ operating at the lowest strategic level.

Correct AnswerverifiedShow Answer

________ is the visual computer display of the essential information related to achieving a marketing objective.

Correct AnswerverifiedShow Answer

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Correct AnswerverifiedShow Answer

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct AnswerverifiedTheodore Levitt argues that senior manag...View AnswerShow Answer

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Step 1: situation (SWOT) analysis is an ...
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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Theodore Levitt argues that senior manag...
View Answer

Correct Answer
verified

Correct Answer
verified