Question 1

The clear, broad, underlying industry or market sector of an organization's offerings is referred to as its __________.

Accepted Answer

A)  business
B)  commerce
C)  marketing
D)  competitive set
E)  product groupingF) B) and E)
G) All of the above

Question 2

Data visualization

Accepted Answer

A)  is the visual computer display of the essential information related to achieving a marketing objective.
B)  is a road map for the marketing activities of an organization for a specified future time period.
C)  is the process of continuously collecting information about customers' needs, sharing this information across departments, and using it to create marketing metrics.
D)  is a measure of the quantitative value or trend of a marketing activity or result is the visual computer display of the essential information related to achieving a marketing objective.
E)  presents information about an organization's marketing metrics graphically so marketers can quickly spot deviations from plans and take corrective actions.F) B) and D)
G) A) and B)

Question 3

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Accepted Answer

The BCG business portfolio ana...

Question 4

An organization's foundation can be broken into three key elements:

Accepted Answer

A)  products, services, and ideas.
B)  business definition, long-term goals, and short-term objectives.
C)  board of directors, top management, and stakeholders.
D)  corporate-level strategies, SBU-level strategies, and functional-level strategies.
E)  core values, mission/vision, and organizational cultureF) A) and E)
G) C) and E)

Question 5

Weight Watchers is a weight-management company with operations in about 30 countries. Consumers buy almost $5 billion of Weight Watchers-branded products each year, and every week approximately 1.3 million people attend Weight Watchers meetings. The company's brand recognition and meeting infrastructure are difficult for competitors to match, providing a

Accepted Answer

A)  viable mission.
B)  competitive advantage.
C)  tactical innovation.
D)  core benefit.
E)  sales orientation.F) A) and E)
G) B) and E)

Question 6

At the functional level, the marketing department

Accepted Answer

A)  solicits talent from all levels of the organization for strategic corporate planning sessions.
B)  promotes its goals to the organization's stakeholders.
C)  looks outward, in part by listening to customers.
D)  develops the corporate culture.
E)  defines the overall strategic direction of the organization.F) B) and D)
G) None of the above

Question 7

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

Accepted Answer

The four components of the implementatio...

Question 8

A(n)  __________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A)  marketing metric
B)  output report
C)  marketing dashboard
D)  information screen
E)  corporate dashboardF) A) and B)
G) A) and D)

Question 9

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

Accepted Answer

A)  select target markets
B)  design marketing organization
C)  position the product
D)  find points of difference
E)  develop the budget by estimating revenues, expenses, and profitsF) A) and E)
G) A) and D)

Question 10

A mission statement should be

Accepted Answer

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

Question 11

Ben & Jerry's mission to improve humanity is linked to various organizational and marketing strategies, one of which is

Accepted Answer

A)  using milk and cream obtained from Caring Dairy, a cooperative that guarantees it suppliers are bovine growth hormone free.
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) C) and D)
G) None of the above

Question 12

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 13

Men's Wearhouse (MW)  caters to the man who doesn't necessarily enjoy shopping. Its stores are in free-standing locations (not inside the mall)  so that customers can get in and out quickly. Additionally, the MW targets the budget-conscious consumer with suit prices ranging from $150 to $850. The location of its stores and its pricing strategy both are part of MW's

Accepted Answer

A)  competitive advantage.
B)  core values.
C)  core benefit proposition.
D)  marketing edge.
E)  viable mission.F) B) and D)
G) A) and E)

Question 14

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 a(n)

Accepted Answer

A)  innovation squad.
B)  business consortium.
C)  multiple strategic directional team.
D)  strategic evaluation team.
E)  cross-functional team.F) C) and E)
G) A) and D)

Question 15

When developing marketing programs for new offerings, marketing may provide staff to serve as part of a(n)  __________, which consists of a small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals.

Accepted Answer

A)  cross-functional team
B)  department
C)  strategic business unit
D)  organization
E)  business consortiumF) D) and E)
G) A) and E)

Question 16

The primary purpose of a marketing metric is to

Accepted Answer

A)  assign qualitative values to quantitative data.
B)  allow the sharing of information across product lines.
C)  measure the quantitative value of a marketing activity.
D)  forecast potential product/service opportunities over a period of five years.
E)  provide a numerically precise measurement of management judgment for an industry's growth.F) B) and E)
G) All of the above

Question 17

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Accepted Answer

A)  business firm
B)  subchapter S corporation
C)  government agency
D)  cooperative
E)  nonprofit organizationF) A) and E)
G) D) and E)

Question 18

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Accepted Answer

A)  influencing the relative market share.
B)  enhancing employee motivation to move a low valued SBU to a higher one.
C)  adding a variety of new SBUs that will force out older ones.
D)  influencing the market growth rate.
E)  simplifying its offerings by removing features.F) C) and E)
G) A) and E)

Question 19

In a marketing context, goal setting involves setting measurable __________ to be achieved.

Accepted Answer

A)  marketing metrics
B)  marketing objectives
C)  marketing tactics
D)  marketing plans
E)  protocolsF) B) and E)
G) C) and D)

Question 20

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of Medtronic's

Accepted Answer

A)  market segmentation and targeting strategy.
B)  price strategy.
C)  place strategy.
D)  promotion strategy.
E)  product/service strategy.F) A) and B)
G) B) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Correct Answer
verified

Ben & Jerry's mission to improve humanity is linked to various organizational and marketing strategies, one of which is

Correct Answer
verified

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Correct Answer
verified
The BCG business portfolio ana...
View Answer

The clear, broad, underlying industry or market sector of an organization's offerings is referred to as its __________.

Correct Answer
verified

At the functional level, the marketing department

Correct Answer
verified

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

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 a marketing context, goal setting involves setting measurable __________ to be achieved.

Correct Answer
verified

An organization's foundation can be broken into three key elements:

Correct Answer
verified

Data visualization

Correct Answer
verified

A(n) __________ is the visual computer display of the essential information related to achieving a marketing objective.

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

Correct Answer
verified

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of Medtronic's

Correct Answer
verified

Correct Answer
verified

When developing marketing programs for new offerings, marketing may provide staff to serve as part of a(n) __________, which consists of a small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals.

Correct Answer
verified

The primary purpose of a marketing metric is to

Correct Answer
verified

Correct Answer
verified

A mission statement should be

Correct Answer
verified

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

To move an SBU from its current position on a BCG business portfolio analysis, a manager should concentrate mostly on

Correct AnswerverifiedShow Answer

Ben & Jerry's mission to improve humanity is linked to various organizational and marketing strategies, one of which is

Correct AnswerverifiedShow Answer

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Correct AnswerverifiedThe BCG business portfolio ana...View AnswerShow Answer

The clear, broad, underlying industry or market sector of an organization's offerings is referred to as its __________.

Correct AnswerverifiedShow Answer

At the functional level, the marketing department

Correct AnswerverifiedShow Answer

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

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 a marketing context, goal setting involves setting measurable __________ to be achieved.

Correct AnswerverifiedShow Answer

An organization's foundation can be broken into three key elements:

Correct AnswerverifiedShow Answer

Data visualization

Correct AnswerverifiedShow Answer

A(n) __________ is the visual computer display of the essential information related to achieving a marketing objective.

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

Correct AnswerverifiedShow Answer

Searching out, using, and training reputable medical device distributors across Asia to call on cardiologists and medical clinics is an example of Medtronic's

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When developing marketing programs for new offerings, marketing may provide staff to serve as part of a(n) __________, which consists of a small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals.

Correct AnswerverifiedShow Answer

The primary purpose of a marketing metric is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A mission statement should be

Correct AnswerverifiedShow Answer

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified
The BCG business portfolio ana...
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Correct Answer
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Correct Answer
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The four components of the implementatio...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The BCG business portfolio analysis requ...
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Correct Answer
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