Question 1

Core values refer to

Accepted Answer

A)  the cultural ethos of an organization.
B)  proprietary values of a firm.
C)  written mission statements that express an organization's goals and objectives.
D)  the personal moral and ethical codes of a firm's stakeholders.
E)  the fundamental,passionate,and enduring principles that guide an organization's conduct over time.F) B) and D)
G) All of the above

Question 2

Part of the growth strategy for Yum! Brands,the parent company of KFC,Pizza Hut,and Taco Bell,is expansion of its current fast-food businesses into untapped international markets,such as China,Russia,and India.This type of expansion would be a ________ strategy.

Accepted Answer

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

Question 3

The marketing manager looks for two kinds of deviations during the evaluation phase,each triggering a different kind of action: (1) actual results fall short of goals and (2)

Accepted Answer

A)  deviations that result from major shifts in customer needs.
B)  actual results exceed goals.
C)  lack of deviations when there should be.
D)  deviations that result from executive mandates.
E)  deviations that are blamed on insufficient marketing support (personnel or funding) .F) A) and B)
G) None of the above

Question 4

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Accepted Answer

A)  marketing department level.
B)  strategic business unit level.
C)  corporate level.
D)  functional level.
E)  board of directors level.F) A) and E)
G) C) and D)

Question 5

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Accepted Answer

A)  designated teams.
B)  strategic business units.
C)  cross-functional teams.
D)  business committees.
E)  venture squads.F) A) and B)
G) A) and C)

Question 6

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Accepted Answer

A)  Situation analysis
B)  Goal setting
C)  Marketing program
D)  Implementation
E)  Market segmentationF) All of the above
G) B) and D)

Question 7

Businesses sometimes pursue ________ goal to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Accepted Answer

A)  a customer satisfaction
B)  a shareholder
C)  a profit minimization
D)  a social responsibility
E)  an employee welfareF) A) and B)
G) C) and D)

Question 8

Apple launched the iPhone in 2007,had very strong sales,and its market share now exceeds 44 percent.The global smartphone market is expected to grow at an annual rate of 7 percent due to the growth internationally.Currently,Apple's iPhone SBU appears to be a

Accepted Answer

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

Question 9

Diversification analysis refers to

Accepted Answer

A)  a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
B)  a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
C)  a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
D)  a technique used to determine the appeal of each SBU or offering and then the amount of cash,if any,each should receive.
E)  a framework that identifies four "generic" strategies to achieve a competitive advantage.F) B) and E)
G) A) and B)

Question 10

Implementation of IBM's "Smarter Planet" strategy has resulted in all of the following except which?

Accepted Answer

A)  A reduction in supply chain costs for retailers
B)  A reduction in traffic delays through coordinated signals
C)  A reduction in power usage for consumers using smart meters
D)  A reduction in inventory levels,as well as increased sales,for retailers
E)  A reduction in wasted coverage for advertising messages to increase its efficiencyF) A) and B)
G) A) and C)

Question 11

Though it started first as a limousine service and became a ridesharing service,Uber recently redefined its business with the addition of Uber Rush and UberEats,and now considers itself to be in which of these?

Accepted Answer

A)  The restaurant business
B)  The digital or physical mail business
C)  The logistics business
D)  The transportation business
E)  The warehousing businessF) A) and B)
G) A) and C)

Question 12

A mission statement should be

Accepted Answer

A)  idealistic.
B)  long-term.
C)  fact-based.
D)  complex.
E)  permanent.F) A) and D)
G) A) and E)

Question 13

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.Stars 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) B) and C)
G) A) and E)

Question 14

Which of the following statements regarding an organization's strategic business unit level is most accurate?

Accepted Answer

A)  The strategic business unit level is the level that works most directly with an organization's targeted customers.
B)  The overall strategy for the organization is directed at the strategic business unit level.
C)  In the most complex organizations,the corporate level and the strategic business unit level may merge.
D)  More end-user analysis is provided at the strategic business unit level than at the functional level.
E)  The strategic direction is more specific at the strategic business unit level than at the corporate level.F) B) and C)
G) B) and D)

Question 15

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Accepted Answer

A)  tactics.
B)  missions.
C)  visions.
D)  strategies.
E)  customer values.F) All of the above
G) D) and E)

Question 16

An organization's employees,shareholders,board of directors,suppliers,distributors,creditors,unions,government,local communities,and customers are referred to as its

Accepted Answer

A)  stakeholders.
B)  stockholders.
C)  competitors.
D)  target audience.
E)  organizational community.F) A) and D)
G) C) and E)

Question 17

An organization uses the strategic marketing process to answer all of the following questions except which?

Accepted Answer

A)  "How do our results compare with our plans?"
B)  "How do we allocate our resources to get where we want to go?"
C)  "Where do we want to go?"
D)  "Do deviations require new plans?"
E)  "How do we convert our plans into actions?"F) C) and E)
G) D) and E)

Question 18

The ________ element of the marketing mix includes outlets and transportation.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  peopleF) None of the above
G) C) and D)

Question 19

Today's organizations can be divided into three groups,which are ________ organizations.

Accepted Answer

A)  company,nonprofit,and cooperative
B)  corporation,employee-owned,and interest
C)  for-profit,nonprofit,and governmental
D)  employee,distributor,and customer
E)  public,private,and internationalF) C) and D)
G) B) and E)

Question 20

The acronym SWOT,as in SWOT analysis,stands for

Accepted Answer

A)  strengths,weaknesses,opportunities,and tactics.
B)  strengths,weaknesses,options,and tactics.
C)  strengths,weaknesses,opportunities,and threats.
D)  simple,workable,optimal,and timely.
E)  state the problem,work out a strategy,organize your team,and take action.F) C) and D)
G) None of the above

Exam 2: Developing Successful Organizational and Marketing Strategies

Today's organizations can be divided into three groups,which are ________ organizations.

Correct AnswerverifiedShow Answer

Businesses sometimes pursue ________ goal to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

The acronym SWOT,as in SWOT analysis,stands for

Correct AnswerverifiedShow Answer

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Correct AnswerverifiedShow Answer

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are referred to as

Correct AnswerverifiedShow Answer

Diversification analysis 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.Stars are SBUs that are classified as having

Correct AnswerverifiedShow Answer

Core values refer to

Correct AnswerverifiedShow Answer

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes outlets and transportation.

Correct AnswerverifiedShow Answer

Though it started first as a limousine service and became a ridesharing service,Uber recently redefined its business with the addition of Uber Rush and UberEats,and now considers itself to be in which of these?

Correct AnswerverifiedShow Answer

Apple launched the iPhone in 2007,had very strong sales,and its market share now exceeds 44 percent.The global smartphone market is expected to grow at an annual rate of 7 percent due to the growth internationally.Currently,Apple's iPhone SBU appears to be a

Correct AnswerverifiedShow Answer

Implementation of IBM's "Smarter Planet" strategy has resulted in all of the following except which?

Correct AnswerverifiedShow Answer

An organization's employees,shareholders,board of directors,suppliers,distributors,creditors,unions,government,local communities,and customers are referred to as its

Correct AnswerverifiedShow Answer

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Correct AnswerverifiedShow Answer

Part of the growth strategy for Yum! Brands,the parent company of KFC,Pizza Hut,and Taco Bell,is expansion of its current fast-food businesses into untapped international markets,such as China,Russia,and India.This type of expansion would be a ________ strategy.

Correct AnswerverifiedShow Answer

An organization uses the strategic marketing process to answer all of the following questions except which?

Correct AnswerverifiedShow Answer

The marketing manager looks for two kinds of deviations during the evaluation phase,each triggering a different kind of action: (1) actual results fall short of goals and (2)

Correct AnswerverifiedShow Answer

Which of the following statements regarding an organization's strategic business unit level is most accurate?

Correct AnswerverifiedShow Answer

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