Question 1

Objectives refer to

Accepted Answer

A)  the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program designed to reach it.
B)  criteria or standards used in evaluating proposed solutions to a marketing problem.
C)  statements of an accomplishment of a task to be achieved, often by a specific time.
D)  a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
E)  the detailed day-to-day operational decisions essential to the overall success of marketing strategies.F) C) and D)
G) D) and E)

Question 2

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 television programming industryF) C) and D)
G) A) and B)

Question 3

A mission statement should be

Accepted Answer

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

Question 4

American Express, the credit card and travel organization, has a long history of working for the good of all in its New York community. In 1885, it engaged its employees to help raise money to build the pedestal of the Statue of Liberty. Today, it has a program to help restore, preserve, and revitalize historic sites in New York City. These actions by American Express are partial fulfillment of the __________ the firm has established for itself as a corporate citizen.

Accepted Answer

A)  unit sales goals
B)  market share goals
C)  sales revenue goals
D)  customer satisfaction goals
E)  social responsibility goalsF) B) and D)
G) C) and D)

Question 5

All of the following were strategic opportunities identified in IBM's 2015 road map except

Accepted Answer

A)  the connected, "smarter planet."
B)  cloud and smarter computing.
C)  a shift from software and services to PCs and hard disk drives.
D)  business analytics and optimization.
E)  growth markets such as China, India, Brazil, and Africa.F) A) and D)
G) C) and D)

Question 6

In its business portfolio analysis, an organization's strategic business units (SBUs)  often start as __________ and eventually become __________.

Accepted Answer

A)  dogs; question marks
B)  question marks; stars
C)  stars; question marks
D)  stars; dogs
E)  question marks; dogsF) B) and D)
G) D) and E)

Question 7

The current markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Accepted Answer

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

Question 8

The strategic marketing process

Accepted Answer

A)  involves 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)  is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
C)  describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
D)  is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
E)  seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) A) and B)
G) C) and E)

Question 9

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) A) and B)

Question 10

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

Accepted Answer

A marketing dashboard is the visual comp...

Question 11

According to the textbook, the terms firm, company, and organization

Accepted Answer

A)  refer to for-profits, nonprofits, and government agencies, respectively.
B)  refer to nonprofits, government agencies, and for-profits, respectively.
C)  refer to government agencies, for-profits, and nonprofits, respectively.
D)  refer to for-profits, government agencies, and nonprofits, respectively.
E)  can be used interchangeably to cover both profit and nonprofit organizations.F) C) and D)
G) B) and C)

Question 12

Howard Schultz, the founder of the American coffee chain Starbucks, provides health care for all employees who work over 20 hours per week. He says, "The companies that are doing the right thing by covering their employees [with health care coverage] are paying for the companies who don't do the right thing." This is an example of one of Starbucks' __________ goals.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  salesF) C) and D)
G) None of the above

Question 13

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 D)
G) A) and C)

Question 14

A marketing strategy to increase sales of current products in current markets is referred to as

Accepted Answer

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

Question 15

A business model

Accepted Answer

A)  is a road map for the marketing activities of an organization for a specified future time period.
B)  consists of the strategies an organization develops to provide value to the customers it serves.
C)  is a measure of the quantitative value or trend of a marketing activity or result.
D)  consists of the detailed day-to-day operational decisions for an organization.
E)  is the means by which organizational goals are to be measured and documented.F) D) and E)
G) A) and C)

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) C) and D)
G) A) and D)

Question 17

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 C)
G) B) and D)

Question 18

Product development refers to the marketing strategy of

Accepted Answer

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

Question 19

What is a cross-functional team and how is it used?

Accepted Answer

When developing marketing programs for n...

Question 20

A mission statement should be

Accepted Answer

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

Exam 2: Developing Successful Organizational and Marketing Strategies

According to the textbook, the terms firm, company, and organization

Correct Answer
verified

The current markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Correct Answer
verified

Product development refers to the marketing strategy of

Correct Answer
verified

Objectives refer to

Correct Answer
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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

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

Correct Answer
verified

A mission statement should be

Correct Answer
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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

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

Correct Answer
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A mission statement should be

Correct Answer
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A business model

Correct Answer
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Correct Answer
verified

A marketing strategy to increase sales of current products in current markets is referred to as

Correct Answer
verified

The strategic marketing process

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
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In its business portfolio analysis, an organization's strategic business units (SBUs) often start as and eventually become .

Correct Answer
verified

What is a cross-functional team and how is it used?

Correct Answer
verified
When developing marketing programs for n...
View Answer

All of the following were strategic opportunities identified in IBM's 2015 road map except

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

According to the textbook, the terms firm, company, and organization

Correct AnswerverifiedShow Answer

The current markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Correct AnswerverifiedShow Answer

Product development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Objectives refer to

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

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

Correct AnswerverifiedShow Answer

A mission statement should be

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

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

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

A business model

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A marketing strategy to increase sales of current products in current markets is referred to as

Correct AnswerverifiedShow Answer

The strategic marketing process

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In its business portfolio analysis, an organization's strategic business units (SBUs) often start as __________ and eventually become __________.

Correct AnswerverifiedShow Answer

What is a cross-functional team and how is it used?

Correct AnswerverifiedWhen developing marketing programs for n...View AnswerShow Answer

All of the following were strategic opportunities identified in IBM's 2015 road map except

Correct AnswerverifiedShow Answer

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

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In its business portfolio analysis, an organization's strategic business units (SBUs) often start as and eventually become .

Correct Answer
verified

Correct Answer
verified
When developing marketing programs for n...
View Answer

Correct Answer
verified