Question 1

A(n) ________ is a legal entity that consists of people who share a common mission.

Accepted Answer

A)  department
B)  organization
C)  SBU
D)  industry
E)  marketF) A) and C)
G) D) and E)

Question 2

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

Accepted Answer

Market share is the ratio of sales reven...

Question 3

Figure 2-7
 
-Quadrant D in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Accepted Answer

A)  a threat
B)  a weakness
C)  a strength
D)  an opportunity
E)  a market segmentF) A) and E)
G) C) and D)

Question 4

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Accepted Answer

A)  sustainability doctrine
B)  core benefit proposition
C)  mission statement
D)  corporate philosophy
E)  code of ethicsF) B) and E)
G) A) and E)

Question 5

Apple launched its revolutionary Apple watch in 2015 as the first wearable technology that used a multi-touch user interface.The wearable technologies market grew at a rate of more than 100 percent in 2015.Apple sales were substantial despite a relatively high price and short battery life.The Apple watch entered the market as a

Accepted Answer

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

Question 6

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

Question 7

Marketing tactics refer to the

Accepted Answer

A)  long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)  steps taken to develop an effective marketing plan.
D)  development of marketing strategies to achieve the organization's marketing objectives.
E)  refinement of the organization's mission based on the results obtained from a marketing audit.F) C) and D)
G) B) and E)

Question 8

The marketing program,Step 3 in the strategic planning process,answers which question?

Accepted Answer

A)  Who
B)  What
C)  When
D)  Why
E)  HowF) C) and D)
G) B) and D)

Question 9

The functional level in an organization is where

Accepted Answer

A)  groups of specialists actually create value for the organization.
B)  employees perform assigned tasks without actually having input into the decision making process.
C)  all financial outlays are made.
D)  all company hiring and firing occurs.
E)  the strategic planners in SBUs make all decisions regarding which product benefits will be promoted during a promotional campaign.F) A) and E)
G) A) and D)

Question 10

Procter & Gamble (P&G) is a consumer packaged goods company where innovation is a key competitive advantage.This allows the firm to develop products like Crest Whitestrips that consumers crave.P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands.A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n) ________ for the firm.

Accepted Answer

A)  a strength
B)  a weakness
C)  a threat
D)  an opportunity
E)  a problemF) A) and D)
G) A) and C)

Question 11

Figure 2-7
 
-Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Accepted Answer

A)  a threat
B)  a weakness
C)  a strength
D)  an opportunity
E)  a market segmentF) A) and D)
G) B) and E)

Question 12

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies,one of which is

Accepted Answer

A)  supporting farmers who agree to use sustainable farming practices,implementing fair working standards,and investing in local communities.
B)  the intent of making modest profits without sacrificing high product quality standards.
C)  ingredients that are all completely organic and are available only in Vermont to ensure freshness and contribute to the local economy.
D)  a commitment to donating a percentage of profits to Teach for America.
E)  ingredients that come exclusively from developed countries promoting Fair Trade practices.F) B) and D)
G) C) and E)

Question 13

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Accepted Answer

A)  business firm
B)  subchapter S corporation
C)  service agency
D)  cooperative
E)  nonprofit organizationF) All of the above
G) B) and E)

Question 14

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Accepted Answer

A)  innovation group.
B)  business consortium.
C)  tactical group.
D)  SWOT team.
E)  cross-functional team.F) D) and E)
G) B) and C)

Question 15

Explain what a visionary organization is and the three questions (why,what,and how)that need to be answered to achieve success.

Accepted Answer

Management experts stress that to be suc...

Question 16

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Accepted Answer

The BCG business portfolio analysis requ...

Question 17

The terms ________ and a mission statement are often used interchangeably.

Accepted Answer

A)  idea
B)  objective
C)  vision
D)  goal
E)  protocolF) B) and C)
G) C) and D)

Question 18

The planning gap refers to

Accepted Answer

A)  the difference between projected total costs and realized total revenues.
B)  the difference between projected total costs and net profits.
C)  the difference between marginal revenue and marginal cost.
D)  the percentage point difference between a firm and its next largest competitor in terms of market share.
E)  the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place.F) B) and E)
G) A) and E)

Question 19

In the Boston Consulting Group (BCG) 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) C) and E)
G) None of the above

Question 20

Define marketing dashboard and marketing metric and explain how these terms are related.

Accepted Answer

A marketing dashboard is the visual comp...

Exam 2: Developing Successful Organizational and Marketing Strategies

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct Answer
verified

The functional level in an organization is where

Correct Answer
verified

Explain what a visionary organization is and the three questions (why,what,and how)that need to be answered to achieve success.

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Marketing tactics refer to the

Correct Answer
verified

The planning gap refers to

Correct Answer
verified

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

Correct Answer
verified

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

Correct Answer
verified
Market share is the ratio of sales reven...
View Answer

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Correct Answer
verified

The terms ________ and a mission statement are often used interchangeably.

Correct Answer
verified

The marketing program,Step 3 in the strategic planning process,answers which question?

Correct Answer
verified

Correct Answer
verified

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

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies,one of which is

Correct Answer
verified

A(n) ________ is a legal entity that consists of people who share a common mission.

Correct Answer
verified

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct Answer
verified

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Correct Answer
verified
The BCG business portfolio analysis requ...
View Answer

Figure 2-7 -Quadrant D in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct Answer
verified

Define marketing dashboard and marketing metric and explain how these terms are related.

Correct Answer
verified
A marketing dashboard is the visual comp...
View Answer

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

The functional level in an organization is where

Correct AnswerverifiedShow Answer

Explain what a visionary organization is and the three questions (why,what,and how)that need to be answered to achieve success.

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

Marketing tactics refer to the

Correct AnswerverifiedShow Answer

The planning gap refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

Correct AnswerverifiedMarket share is the ratio of sales reven...View AnswerShow Answer

IBM regularly creates what it calls global action teams,which take people from functional groups and bring them together to work on large client projects.These global action teams are a type of

Correct AnswerverifiedShow Answer

The terms ________ and a mission statement are often used interchangeably.

Correct AnswerverifiedShow Answer

The marketing program,Step 3 in the strategic planning process,answers which question?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies,one of which is

Correct AnswerverifiedShow Answer

A(n) ________ is a legal entity that consists of people who share a common mission.

Correct AnswerverifiedShow Answer

A ________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct AnswerverifiedShow Answer

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix.Describe this tool and the four quadrants of the matrix.

Correct AnswerverifiedThe BCG business portfolio analysis requ...View AnswerShow Answer

Figure 2-7 -Quadrant D in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

Define marketing dashboard and marketing metric and explain how these terms are related.

Correct AnswerverifiedA marketing dashboard is the visual comp...View AnswerShow Answer

The ________ for Facebook is "To give people the power to share and make the world more open and connected."

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Market share is the ratio of sales reven...
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
The BCG business portfolio analysis requ...
View Answer

Correct Answer
verified

Correct Answer
verified
A marketing dashboard is the visual comp...
View Answer

Correct Answer
verified