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Exam 2: Developing Successful Organizational and Marketing Strategies

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Question 91

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Figure 2-6 -Using Figure 2-6 above, identify and describe the three steps (A, B, and C) of the planning phase of the strategic marketing process.

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A: Situation (SWOT) analysis - is an org...

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Question 92

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In a BCG growth-share matrix, a relative market share of 10x at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1x at the right end of the scale on its horizontal axis means that

A) the SBU has only 10 percent of the share of its average competitor.
B) the SBU has 100 percent of the share of its largest competitor.
C) the growth rate between the SBU and the next largest competitor is actually identical.
D) the SBU has only 10 percent of the share of its largest competitor.
E) the industry growth rate is declining.

F) B) and E)
G) B) and D)

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Question 93

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Lands' End ships each order within 48 hours and its guarantee is the best in the world, as exemplified by its tagline "Guaranteed. Period." These marketing actions by Lands' End most likely reflect its __________ goals.

If profits are acceptable, a firm that has set sales as its goal may elect to __________, even though profits may not be maximized.

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

What is an organization's mission? What are some elements of a well-written mission statement?

Motorola invented the Six Sigma program that sets as a goal of no more than one defect in one million parts manufactured. This is an example of a(n) __________ goal.

The 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 located in which quadrant of the BCG growth-share matrix?

The __________ element of the marketing mix includes discounts and allowances.

Complaints about one of Microsoft's Xbox video game consoles began immediately after its introduction. These complaints ranged from missing parts to incorrect programming. Microsoft should have should adopted a more rigorous __________ goal.

The ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is referred to as [a]

Today's visionary organization uses three key elements to specify its foundation, __________, and formulate strategies.

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

A strategic business unit (SBU) refers to

George Zimmer, the former CEO of Men's Wearhouse, was known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring, "You'll like the way you look, I Guarantee it!" He also said that to be successful, "You've got to have a company that starts with trust and fairness." Zimmer was attempting to establish a(n) ___________ for Men's Wearhouse.

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

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

Many local and national chain bookstores, such as Borders and Bookstar, have closed over the past few years. This is due in part to competition from e-book readers like Amazon's Kindle and Apple's iPad, which permit the online purchase and download of digital books from their websites. Moreover, subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news. These trends have caused the newspaper StarTribune to offer online content for $1.99 per week and Newsweek to suspend its print edition in favor of an online only weekly edition. These companies had to change their __________, an action triggered by the technological and social changes in their marketing environments.

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.

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing that task; (3) __________; and (4) what is to be delivered.