Question 1

The online retailer Lands' End communicates a remarkable commitment to its ________ with these unconditional words: "We accept any return,for any reason.Guaranteed Period."

Accepted Answer

A)  Competitive advantage
B)  Core values
C)  Core benefit proposition
D)  Customers
E)  Mission statementF) C) and E)
G) A) and D)

Question 2

When participating in major projects in college marketing classes,effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Accepted Answer

A)  market-product grid
B)  project schedule
C)  Plan-A-Gram
D)  Gantt chart
E)  sales response functionF) B) and C)
G) A) and D)

Question 3

Unilever distributes its Lipton tea products in part through independent brokers,agents and distributors to chain,wholesale,co-operative and independent grocery accounts,and food service.This is an example of a firm's

Accepted Answer

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

Question 4

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here,Wrigley creates new products using a joint effort by some 250 full-time food scientists,researchers,and marketers.The people who work in this center are most likely members of

Accepted Answer

A)  an innovation squad.
B)  a business consortium.
C)  a multiple strategic directional team.
D)  a strategic evaluation team.
E)  a cross-functional team.F) A) and B)
G) C) and D)

Question 5

Those characteristics of a product that make it superior to competitive substitutes are referred to as

Accepted Answer

A)  core benefit propositions.
B)  marketing mix elements.
C)  points of difference.
D)  marketing attributes.
E)  product protocols.F) C) and D)
G) B) and E)

Question 6

Strategy refers to

Accepted Answer

A)  an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals.
B)  an organization's corporate tactical or action plan.
C)  statement of an accomplishment of a task to be achieved by a certain time.
D)  a statement of the organization's function in society,often identifying its customers,markets,product,and technologies.
E)  a road map for the entire organization for a specified future period of time,such as one or five years.F) B) and C)
G) C) and D)

Question 7

A unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation,is referred to as a

Accepted Answer

A)  creative advantage.
B)  marketing edge.
C)  distinctive competency.
D)  competitive advantage.
E)  core benefit.F) A) and C)
G) None of the above

Question 8

Which of the following is not an example of an industry?

Accepted Answer

A)  the computer industry
B)  the automobile industry
C)  the landscaping industry
D)  the government industry
E)  the cable television industryF) A) and B)
G) All of the above

Question 9

If Dr.Pepper Snapple plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent,it has set ________ goal.

Accepted Answer

A)  a sales proportionality
B)  a company sales
C)  an industry potential
D)  a contribution margin
E)  a market shareF) B) and E)
G) None of the above

Question 10

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc. ,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Accepted Answer

A)  Subscribe to all the major trade journals to determine the offerings of competitors.
B)  Communicate with contractors using direct mail about the various walking surfaces Schofield can create for riding and walking paths.
C)  Design a sample ad and test it using visitors at a trade show.
D)  Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces.
E)  Conduct a focus group to decide on which surface to use for a theme park in Brazil.F) C) and D)
G) All of the above

Question 11

One way a company can benefit from implementing a market penetration strategy would be to

Accepted Answer

A)  sell more products at a lower price in new markets.
B)  sell the same amount of product at a higher price in the same market.
C)  find a new market and sell the product at a much higher price.
D)  alter the product and sell it to a new market.
E)  reduce promotion and distribution costs to improve production efficiencies for the product in reaching new markets.F) A) and B)
G) B) and D)

Question 12

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Accepted Answer

Market segmentation involves aggregating...

Question 13

Market development refers to the marketing strategy of

Accepted Answer

A)  increasing sales of current products in current markets.
B)  selling new products to new markets.
C)  selling new products to current markets.
D)  selling the same brands in both current and new markets.
E)  selling current products to new markets.F) A) and B)
G) A) and C)

Question 14

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage.This encourages a larger percentage of employees to participate in retirement planning.This is an example of ________ goal.

Accepted Answer

A)  a satisfaction
B)  a sales revenue
C)  a market share
D)  a quality
E)  an employee welfareF) C) and E)
G) B) and D)

Question 15

The top consumer complaint about bananas is how soon they start getting brown spots.Dole,a multinational agricultural company,most likely set ________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30 percent of the firm) to make a creamy,guilt-free dessert.

Accepted Answer

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

Question 16

A situation analysis refers to

Accepted Answer

A)  taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
B)  an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment.
C)  the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
D)  a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments.
E)  the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.F) All of the above
G) A) and C)

Question 17

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

Question 18

All of the following are examples of stakeholders except which?

Accepted Answer

A)  Government
B)  Competitors
C)  Shareholders
D)  Suppliers
E)  CustomersF) A) and B)
G) B) and D)

Question 19

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

Question 20

Taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it is referred to as

Accepted Answer

A)  tactical planning.
B)  market planning.
C)  goal setting.
D)  environmental scanning.
E)  situation analysis.F) D) and E)
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage.This encourages a larger percentage of employees to participate in retirement planning.This is an example of ________ goal.

Correct Answer
verified

The online retailer Lands' End communicates a remarkable commitment to its ________ with these unconditional words: "We accept any return,for any reason.Guaranteed Period."

Correct Answer
verified

Unilever distributes its Lipton tea products in part through independent brokers,agents and distributors to chain,wholesale,co-operative and independent grocery accounts,and food service.This is an example of a firm's

Correct Answer
verified

Market development refers to the marketing strategy of

Correct Answer
verified

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc. ,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Correct Answer
verified

Which of the following is not an example of an industry?

Correct Answer
verified

When participating in major projects in college marketing classes,effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Correct Answer
verified

Strategy refers to

Correct Answer
verified

If Dr.Pepper Snapple plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent,it has set ________ goal.

Correct Answer
verified

Those characteristics of a product that make it superior to competitive substitutes are referred to as

Correct Answer
verified

A situation analysis refers to

Correct Answer
verified

Taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it is referred to as

Correct Answer
verified

Correct Answer
verified

All of the following are examples of stakeholders except which?

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

The organizational foundation sets the of organizations,the organization direction sets the ,and organizational strategies are concerned with the .

Correct Answer
verified

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

Correct Answer
verified

One way a company can benefit from implementing a market penetration strategy would be to

Correct Answer
verified

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here,Wrigley creates new products using a joint effort by some 250 full-time food scientists,researchers,and marketers.The people who work in this center are most likely members of

Correct Answer
verified

A unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation,is referred to as a

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Some universities provide retirement benefits by matching the percentage an employee pays into a retirement account up to a certain percentage.This encourages a larger percentage of employees to participate in retirement planning.This is an example of ________ goal.

Correct AnswerverifiedShow Answer

The online retailer Lands' End communicates a remarkable commitment to its ________ with these unconditional words: "We accept any return,for any reason.Guaranteed Period."

Correct AnswerverifiedShow Answer

Unilever distributes its Lipton tea products in part through independent brokers,agents and distributors to chain,wholesale,co-operative and independent grocery accounts,and food service.This is an example of a firm's

Correct AnswerverifiedShow Answer

Market development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc. ,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Correct AnswerverifiedShow Answer

Which of the following is not an example of an industry?

Correct AnswerverifiedShow Answer

When participating in major projects in college marketing classes,effective teams can use a ________ to be sure that each team member does a fair amount of work and that class projects are finished efficiently and on time.

Correct AnswerverifiedShow Answer

Strategy refers to

Correct AnswerverifiedShow Answer

If Dr.Pepper Snapple plans to grow its proportion of the flavors segment of the carbonated soft drink industry to 45 percent,it has set ________ goal.

Correct AnswerverifiedShow Answer

Those characteristics of a product that make it superior to competitive substitutes are referred to as

Correct AnswerverifiedShow Answer

A situation analysis refers to

Correct AnswerverifiedShow Answer

Taking stock of where the firm or product has been recently,where it is now,and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are examples of stakeholders except which?

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct AnswerverifiedMarket segmentation involves aggregating...View AnswerShow Answer

The organizational foundation sets the ________ of organizations,the organization direction sets the ________,and organizational strategies are concerned with the ________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

One way a company can benefit from implementing a market penetration strategy would be to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation,is referred to as a

Correct AnswerverifiedShow Answer

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verified
Market segmentation involves aggregating...
View Answer

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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Correct Answer
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Correct Answer
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