Question 1

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would most likely have set ________ goal.

Accepted Answer

A)  a profit
B)  a customer satisfaction
C)  a market share
D)  an employee welfare
E)  a social responsibilityF) A) and E)
G) A) and D)

Question 2

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

Question 3

Often used interchangeably with the term vision,a ________ 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 E)
G) C) and D)

Question 4

Figure 2-7
 
-Consider Figure 2-7 above.A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages.The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits (consisting of food bars,a water filtration system,first aid supplies,etc. ) .Before going ahead with this decision,several factors had to be considered: (1) The firm has a great reputation with its flashlights and does not want to ruin it.(2) Its physical plant could be refitted relatively easily to make small generators,but it would be rather costly.(3) It would have to rely on another firm to manufacture and package the survival kits.(4) Although there are nine named hurricanes scheduled for the upcoming year,no one really can predict what will happen.The company's need to refit its factory would fall in which quadrant(s) of the SWOT analysis grid?

Accepted Answer

A)  A
B)  B
C)  C
D)  D
E)  both B and DF) A) and B)
G) B) and C)

Question 5

An aid to implementing 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) what is to be delivered is referred to as

Accepted Answer

A)  an output report.
B)  a Gantt chart.
C)  a market plan.
D)  an action item list.
E)  a marketing action memo.F) B) and C)
G) C) and E)

Question 6

An organization's foundation includes which of the following?

Accepted Answer

A)  Core values
B)  Business definition
C)  Goals
D)  Strategic levels
E)  OfferingsF) A) and C)
G) A) and D)

Question 7

A strategic business unit (SBU) refers to

Accepted Answer

A)  a single product or service identification code used to identify items for strategic marketing planning purposes.
B)  a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals.
C)  a strategic product that has a unique brand,size,or price.
D)  a privately owned franchise under the auspices of a larger group or organization bearing the same name.
E)  a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers.F) A) and B)
G) All of the above

Question 8

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

Accepted Answer

A)  marketing gauge.
B)  output report.
C)  marketing dashboard.
D)  information monitor.
E)  data interface.F) D) and E)
G) A) and B)

Question 9

The CEO of an organization

Accepted Answer

A)  is usually at the strategic business unit level.
B)  is usually a member of the board of directors.
C)  outranks the corporate level.
D)  does not oversee the daily operations.
E)  is typically also the CMO.F) A) and E)
G) A) and C)

Question 10

The ________ element of the marketing mix includes discounts and allowances.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  peopleF) A) and D)
G) B) and D)

Question 11

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 grouping.F) A) and B)
G) D) and E)

Question 12

Organizational strategies vary in two ways,depending on

Accepted Answer

A)  the strategy's level in the organization and the offerings it provides to its customers.
B)  the corporate level and the SBU level in the organization.
C)  whether an offering is a tangible product or a service.
D)  whether management plans to develop mission statements or core values.
E)  the organizational culture and its core values.F) A) and B)
G) A) and C)

Question 13

Medtronic,a company that makes heart pacemakers,introduced a new product at medical conventions across Asia to demonstrate its many beneficial features.The convention presentations are an example of its

Accepted Answer

A)  market segmentation and targeting strategy.
B)  price strategy.
C)  place strategy.
D)  promotion strategy.
E)  product strategy.F) B) and D)
G) All of the above

Question 14

A mission statement should be

Accepted Answer

A)  short-term.
B)  inspirational.
C)  numerical.
D)  trademarked.
E)  clever.F) A) and B)
G) C) and D)

Question 15

A marketing ________ is defined as 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.

Accepted Answer

A)  plan
B)  tactic
C)  strategy
D)  concept
E)  actionF) B) and E)
G) None of the above

Question 16

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 17

In a marketing context,goal setting involves describing measurable ________ to be achieved.

Accepted Answer

A)  marketing metrics
B)  marketing objectives
C)  marketing tactics
D)  marketing plans
E)  protocolsF) None of the above
G) A) and E)

Question 18

Name and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals ...

Question 19

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee ________ goal.

Accepted Answer

A)  satisfaction
B)  responsibility
C)  compensation
D)  core value
E)  welfareF) B) and C)
G) B) and E)

Question 20

Ben & Jerry's Marketing Dashboard (Dollar Sales and Market Share) 
 
-Consider the Ben & Jerry's Dollar Sales and Market Share figure here.A marketing manager for Ben & Jerry's notices that dollar market share for 2015 was 18.4 percent and for 2016 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) B) and C)
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

Name and briefly describe the seven types of organizational goals or objectives.

Correct Answer
verified
The seven types of organizational goals ...
View Answer

In a marketing context,goal setting involves describing measurable ________ to be achieved.

Correct Answer
verified

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

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

Medtronic,a company that makes heart pacemakers,introduced a new product at medical conventions across Asia to demonstrate its many beneficial features.The convention presentations are an example of its

Correct Answer
verified

A marketing ________ is defined as 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.

Correct Answer
verified

A strategic business unit (SBU) refers to

Correct Answer
verified

The ________ element of the marketing mix includes discounts and allowances.

Correct Answer
verified

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would most likely have set ________ goal.

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

Often used interchangeably with the term vision,a ________ frequently has a meaningful theme and a long-term orientation.

Correct Answer
verified

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

Correct Answer
verified

An aid to implementing 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) what is to be delivered is referred to as

Correct Answer
verified

The CEO of an organization

Correct Answer
verified

An organization's foundation includes which of the following?

Correct Answer
verified

A mission statement should be

Correct Answer
verified

Organizational strategies vary in two ways,depending on

Correct Answer
verified

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee ________ goal.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Name and briefly describe the seven types of organizational goals or objectives.

Correct AnswerverifiedThe seven types of organizational goals ...View AnswerShow Answer

In a marketing context,goal setting involves describing measurable ________ to be achieved.

Correct AnswerverifiedShow Answer

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

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

Medtronic,a company that makes heart pacemakers,introduced a new product at medical conventions across Asia to demonstrate its many beneficial features.The convention presentations are an example of its

Correct AnswerverifiedShow Answer

A marketing ________ is defined as 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.

Correct AnswerverifiedShow Answer

A strategic business unit (SBU) refers to

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes discounts and allowances.

Correct AnswerverifiedShow Answer

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would most likely have set ________ goal.

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

Often used interchangeably with the term vision,a ________ frequently has a meaningful theme and a long-term orientation.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

An aid to implementing 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) what is to be delivered is referred to as

Correct AnswerverifiedShow Answer

The CEO of an organization

Correct AnswerverifiedShow Answer

An organization's foundation includes which of the following?

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

Organizational strategies vary in two ways,depending on

Correct AnswerverifiedShow Answer

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee ________ goal.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
The seven types of organizational goals ...
View Answer

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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