Question 1

The actions taken during the implementation phase of the strategic marketing process include: (1)  obtain resources; (2)  design the marketing organization; (3)  define precise tasks, responsibilities, and deadlines; and (4)

Accepted Answer

A)  position the product.
B)  select target markets.
C)  find points of difference.
D)  execute the marketing program.
E)  develop the budget by estimating revenues, expenses, and profits.F) C) and E)
G) B) and D)

Question 2

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) C) and E)
G) None of the above

Question 3

Customers' perceptions are of vital importance to an organization. Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Accepted Answer

A)  satisfaction
B)  welfare
C)  lifetime benefit
D)  value
E)  responsibilityF) A) and B)
G) A) and E)

Question 4

Step 3 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)  diversification analysis.
B)  the situation (SWOT)  analysis.
C)  the marketing program.
D)  the market-product focus and goal setting.
E)  business portfolio analysis.F) C) and D)
G) All of the above

Question 5

An effective summary tool for an organization's situation analysis is referred to as

Accepted Answer

A)  SWOT analysis.
B)  strategic management planning.
C)  environmental scanning.
D)  market-product grid analysis.
E)  marginal analysis.F) A) and B)
G) A) and C)

Question 6

An industry refers to

Accepted Answer

A)  organizations that develop similar offerings.
B)  organizations that manufacture identical products to meet ISO 9000 specifications.
C)  companies that are active in the production of materials used in finished products.
D)  a group of people or firms united through strategic alliances.
E)  the economic activity concerned with the selling of finished products to wholesalers and retailers.F) B) and E)
G) All of the above

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 E)
G) A) and D)

Question 8

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Accepted Answer

A)  CEO.
B)  CMO.
C)  CPM.
D)  CPO.
E)  COO.F) B) and C)
G) D) and E)

Question 9

What are the four components of the implementation phase of the strategic marketing process?

Accepted Answer

The four components of the implementatio...

Question 10

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 enters the market as a

Accepted Answer

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

Question 11

The actions taken during the evaluation phase of the strategic marketing process include (1)  compare results with plans to identify deviations and (2)

Accepted Answer

A)  find points of difference.
B)  execute the marketing program.
C)  track sales and revenues and compare with competitors.
D)  develop the budget by estimating revenues, expenses, and profits.
E)  exploit positive deviations and correct negative ones.F) A) and B)
G) A) and C)

Question 12

A(n)  __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Accepted Answer

A)  agency
B)  for-profit organization
C)  institution
D)  nonprofit organization
E)  cooperativeF) B) and E)
G) A) and D)

Question 13

In the context of organizational direction, the term business refers to

Accepted Answer

A)  the daily operational decisions that must be implemented for an organization to remain viable.
B)  exchange transactions between seller and buyer in order for the seller to make sales and earn profits.
C)  the clear, broad, underlying industry or market sector of an organization's offering.
D)  an organization that develops an offering.
E)  the objectives of a firm and the strategies and tactics that will allow it to achieve them.F) A) and B)
G) B) and D)

Question 14

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 15

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Accepted Answer

A)  reached the goal of generating enough revenue to be a completely nonprofit organization.
B)  a sustainable financial basis of profitable growth, increasing value for stakeholders and expanding opportunities for development and career growth for employees.
C)  the goal of making profits for selected charitable organizations such as Fair Trade.
D)  been recognized for its efforts to use the power of business to solve social and environmental problems.
E)  been instrumental in expanding into international markets by creating dairies for developing nations.F) A) and C)
G) All of the above

Question 16

If marketers at a large auto manufacturer created a little digital flip film out of some 200 photos to tout the prowess of their new truck, hoping it would be a clever way to get people to engage, this action would be an example of the firm's marketing

Accepted Answer

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

Question 17

A marketing __________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Accepted Answer

A)  plan
B)  tactic
C)  strategy
D)  concept
E)  actionF) B) and D)
G) B) and C)

Question 18

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) C) and E)

Question 19

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Accepted Answer

A)  "The IBM Way."
B)  "Smarter Planet."
C)  "Reinvent Business."
D)  "The 2015 Road Map."
E)  "Big Blue."F) B) and E)
G) None of the above

Question 20

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Accepted Answer

A)  dogs.
B)  cash cows.
C)  question marks.
D)  stars.
E)  hedgehogs.F) A) and B)
G) B) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct Answer
verified

Organizational culture refers to

Correct Answer
verified

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Correct Answer
verified

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Correct Answer
verified

Step 3 in the planning phase of the strategic marketing process consists of

Correct Answer
verified

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

Correct Answer
verified

An effective summary tool for an organization's situation analysis is referred to as

Correct Answer
verified

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4)

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

Customers' perceptions are of vital importance to an organization. Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Correct Answer
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An industry refers to

Correct Answer
verified

A marketing __________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Correct Answer
verified

Correct Answer
verified

The actions taken during the evaluation phase of the strategic marketing process include (1) compare results with plans to identify deviations and (2)

Correct Answer
verified

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Correct Answer
verified

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Correct Answer
verified

If marketers at a large auto manufacturer created a little digital flip film out of some 200 photos to tout the prowess of their new truck, hoping it would be a clever way to get people to engage, this action would be an example of the firm's marketing

Correct Answer
verified

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

Correct Answer
verified

What are the four components of the implementation phase of the strategic marketing process?

Correct Answer
verified
The four components of the implementatio...
View Answer

In the context of organizational direction, the term business refers to

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

IBM's business strategy to help its clients be more efficient, productive, and responsive to the data generated from the revolution in the global marketplace concerning the instrumentation and integration of the world's processes and infrastructures is referred to as

Correct AnswerverifiedShow Answer

Organizational culture refers to

Correct AnswerverifiedShow Answer

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the

Correct AnswerverifiedShow Answer

Ben & Jerry's has earned B-Corp certification from B-Lab, which means it has

Correct AnswerverifiedShow Answer

Step 3 in the planning phase of the strategic marketing process consists of

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

An effective summary tool for an organization's situation analysis is referred to as

Correct AnswerverifiedShow Answer

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4)

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

Customers' perceptions are of vital importance to an organization. Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Correct AnswerverifiedShow Answer

An industry refers to

Correct AnswerverifiedShow Answer

A marketing __________ is defined as the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The actions taken during the evaluation phase of the strategic marketing process include (1) compare results with plans to identify deviations and (2)

Correct AnswerverifiedShow Answer

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Correct AnswerverifiedShow Answer

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Correct AnswerverifiedShow Answer

If marketers at a large auto manufacturer created a little digital flip film out of some 200 photos to tout the prowess of their new truck, hoping it would be a clever way to get people to engage, this action would be an example of the firm's marketing

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

What are the four components of the implementation phase of the strategic marketing process?

Correct AnswerverifiedThe four components of the implementatio...View AnswerShow Answer

In the context of organizational direction, the term business refers to

Correct AnswerverifiedShow Answer

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Market segmentation involves aggregating...
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The four components of the implementatio...
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