Question 1

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.

Accepted Answer

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

Question 2

The key to all scheduling techniques is to

Accepted Answer

A)  avoid scheduling tasks that can be done concurrently.
B)  avoid tasks that must be done sequentially.
C)  make sure to allow a 20 percent delay factor to account for contingencies.
D)  assign responsibility for end results to the entire group rather than a single individual.
E)  distinguish tasks that must be done sequentially from those that can be done concurrently.F) A) and B)
G) D) and E)

Question 3

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization.Dogs are SBUs that are classified as having

Accepted Answer

A)  high market growth rates and high relative market shares.
B)  low market growth rates but high relative market shares.
C)  low market growth rates and low relative market shares.
D)  high market growth rates but low relative market shares.
E)  medium market growth rates and medium relative market shares.F) A) and B)
G) A) and C)

Question 4

A new company projects that its sales will exceed its expenses within the 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) B) and D)
G) A) and B)

Question 5

A for-profit organization refers to

Accepted Answer

A)  a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
B)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C)  a privately owned organization that serves its customers to earn a profit so that it can survive.
D)  a group of people united through contractual or corporate ownership.
E)  a publicly owned organization that serves the general population.F) A) and E)
G) C) and E)

Question 6

A mission statement should be all of these except which?

Accepted Answer

A)  Short-term
B)  Inspirational
C)  Clear
D)  Meaningful
E)  ConciseF) C) and D)
G) A) and C)

Question 7

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 sales for 2015 were $240 million and in 2016 they were $250 million.What was the formula used to calculate the dollar sales for each of these two years?

Accepted Answer

A)  Dollar sales ($) = Average price × Quantity manufactured in each year.
B)  Dollar sales ($) = Average cost of goods sold − Fixed costs in each year.
C)  Dollar sales ($) = Average price − Shrinkage rate in each year.
D)  Dollar sales ($) = Average price × Quantity sold in each year.
E)  Dollar sales ($) = Average cost of goods sold − Variable costs in each year.F) A) and B)
G) A) and C)

Question 8

What is the difference between a marketing strategy and a marketing tactic?

Accepted Answer

A marketing strategy is the means by whi...

Question 9

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include ________ and ________ analysis strategies.

Accepted Answer

A)  micromarketing;macromarketing
B)  business portfolio;diversification
C)  investment;divestment
D)  dashboards;metrics
E)  subjective;objectiveF) B) and C)
G) D) and E)

Question 10

The marketing strategy to sell current products to new markets is referred to as

Accepted Answer

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

Question 11

Organizational culture refers to

Accepted Answer

A)  the personal moral and ethical codes of ethics of an organization's top management.
B)  a written statement expressing an organization's goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)  the fundamental,passionate,and enduring principles that guide an organization's conduct over time.
D)  the ethos of an organization that excludes its core values.
E)  a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.F) B) and D)
G) C) and D)

Question 12

Bill McDermott is the CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott is part of the ________ level of his organization.

Accepted Answer

A)  business unit
B)  functional
C)  corporate
D)  strategic
E)  tacticalF) B) and D)
G) All of the above

Question 13

The ________ element of the marketing mix includes personal selling and advertising.

Accepted Answer

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

Question 14

The purpose of business portfolio analysis is to

Accepted Answer

A)  add or delete product line and brand extensions.
B)  search for growth opportunities from among current and new markets as well as current and new products.
C)  alter a product's characteristic,such as its quality,performance,or appearance,to increase its value to customers and increase sales.
D)  determine which strategic business unit or offering generates cash and which one requires cash to fund the organization's growth opportunities.
E)  seek opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) A) and D)
G) A) and C)

Question 15

Figure 2-3a
 
-The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Accepted Answer

A)  trend analysis.
B)  a marketing measurement.
C)  a marketing gauge.
D)  a marketing metric.
E)  value analysis.F) B) and C)
G) A) and E)

Question 16

The strategic marketing process involves three phases: planning,implementation,and

Accepted Answer

A)  review.
B)  execution.
C)  evaluation.
D)  goal revision.
E)  correction.F) B) and C)
G) A) and E)

Question 17

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 18

Apple's iPod sold more than 50 million units annually until 2010 when the iPhone integrated a music player.Since 2010 sales have been declining dramatically and in October 2014 Apple announced that it was discontinuing the iPod classic.Today Apple still sells three iPod product lines although declining sales and discontinued products suggest that this SBU is may have become a

Accepted Answer

A)  question mark.
B)  star.
C)  hedgehog.
D)  cash cow.
E)  dog.F) A) and C)
G) C) and E)

Question 19

Step 1 in the planning phase of the strategic marketing process involves

Accepted Answer

A)  establishing the budget.
B)  developing the marketing program.
C)  setting goals.
D)  auditing the marketing plan.
E)  conducting a situation (SWOT) analysis.F) All of the above
G) A) and B)

Question 20

Briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

Accepted Answer

Large organizations are extremely comple...

Exam 2: Developing Successful Organizational and Marketing Strategies

The strategic marketing process involves three phases: planning,implementation,and

Correct Answer
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Briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

Correct Answer
verified
Large organizations are extremely comple...
View Answer

The purpose of business portfolio analysis is to

Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

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

A mission statement should be all of these except which?

Correct Answer
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The key to all scheduling techniques is to

Correct Answer
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The ________ element of the marketing mix includes personal selling and advertising.

Correct Answer
verified

Figure 2-3a -The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Correct Answer
verified

Correct Answer
verified

A for-profit organization refers to

Correct Answer
verified

Correct Answer
verified

Bill McDermott is the CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott is part of the ________ level of his organization.

Correct Answer
verified

A new company projects that its sales will exceed its expenses within the first year of operation.This is an example of which type of goal?

Correct Answer
verified

What is the difference between a marketing strategy and a marketing tactic?

Correct Answer
verified
A marketing strategy is the means by whi...
View Answer

The marketing strategy to sell current products to new markets is referred to as

Correct Answer
verified

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.

Correct Answer
verified

Step 1 in the planning phase of the strategic marketing process involves

Correct Answer
verified

Organizational culture refers to

Correct Answer
verified

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization.Dogs are SBUs that are classified as having

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

The strategic marketing process involves three phases: planning,implementation,and

Correct AnswerverifiedShow Answer

Briefly describe the five levels in a hierarchical organizational structure,including the three that are strategic in nature.

Correct AnswerverifiedLarge organizations are extremely comple...View AnswerShow Answer

The purpose of business portfolio analysis is to

Correct AnswerverifiedShow Answer

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include ________ and ________ analysis strategies.

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

A mission statement should be all of these except which?

Correct AnswerverifiedShow Answer

The key to all scheduling techniques is to

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes personal selling and advertising.

Correct AnswerverifiedShow Answer

Figure 2-3a -The single measure that is shown in Figure 2-3a as part of a larger marketing dashboard is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A for-profit organization refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Bill McDermott is the CEO of SAP,which is a company that sells expensive enterprise resource planning software to large and mid-sized companies.McDermott is part of the ________ level of his organization.

Correct AnswerverifiedShow Answer

A new company projects that its sales will exceed its expenses within the first year of operation.This is an example of which type of goal?

Correct AnswerverifiedShow Answer

What is the difference between a marketing strategy and a marketing tactic?

Correct AnswerverifiedA marketing strategy is the means by whi...View AnswerShow Answer

The marketing strategy to sell current products to new markets is referred to as

Correct AnswerverifiedShow Answer

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S.consumers increased as a result of a slight price increase of $0.25 per pack,it would be using a ________ strategy.

Correct AnswerverifiedShow Answer

Step 1 in the planning phase of the strategic marketing process involves

Correct AnswerverifiedShow Answer

Organizational culture refers to

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization.Dogs are SBUs that are classified as having

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
Large organizations are extremely comple...
View Answer

Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
verified

Correct Answer
verified
There are four market-product strategies...
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
A marketing strategy is the means by whi...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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