Question 1

Diversification 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 C)
G) C) and D)

Question 2

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Accepted Answer

A)  micromarketing;macromarketing
B)  business portfolio;diversification
C)  investment;divestment
D)  dashboards;metrics
E)  subjective;objectiveF) A) and B)
G) C) and D)

Question 3

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 SBUs that are classified as having

Accepted Answer

A)  high market growth rates and high relative market shares.
B)  low market growth rates but high relative market shares.
C)  low market growth rates and low relative market shares.
D)  high market growth rates but low relative market shares.
E)  medium market growth rates and medium relative market shares.F) A) and C)
G) None of the above

Question 4

Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Accepted Answer

A)  market penetration
B)  product penetration
C)  market development
D)  product development
E)  diversificationF) A) and E)
G) A) and D)

Question 5

In keeping with its business mission,Ben & Jerry's

Accepted Answer

A)  opened new franchises exclusively in pre-built structures in order to save natural resources.
B)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk.
C)  believed that "people should get their fair share of the pie" and as a result practices Fair Trade-certified sourcing.
D)  limited its advertising to online media to prevent paper waste and save the rainforests from deforestation.
E)  will package its next line of bulk ice cream in glass containers that not only keep the ice cream colder but are recyclable as well.F) A) and E)
G) All of the above

Question 6

In its business portfolio analysis,an organization's 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) A) and C)
G) A) and B)

Question 7

The strategic business unit level

Accepted Answer

A)  works most directly with the organization's target customers.
B)  directs the overall strategy for the organization.
C)  is most likely to change substantially over time.
D)  provides more end-user analysis in order to design more customer-directed products.
E)  is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.F) B) and D)
G) None of the above

Question 8

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 strategyF) B) and C)
G) B) and E)

Question 9

Explain what a visionary organization is and the three questions ("why," "what," and "how")that need to be answered that formulate its strategies.

Accepted Answer

Management experts stress that to be suc...

Question 10

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

Accepted Answer

A)  defining precise tasks,responsibilities,and deadlines.
B)  executing the marketing program.
C)  designing the marketing organization.
D)  conducting R&D.
E)  obtaining resources.F) None of the above
G) C) and D)

Question 11

The corporate level refers to the level in an organization where top management

Accepted Answer

A)  develops marketing strategies and tactics for the marketing department to implement.
B)  directs overall strategy for the entire organization.
C)  executes all marketing program actions to ensure consistency of performance.
D)  develops overall sales projections not only for the short term but also for a period of at least two to five years.
E)  supervises the hiring,firing,and training of all marketing department personnel.F) None of the above
G) A) and E)

Question 12

The term marketing strategy is used to address both the __________ and the __________.

Accepted Answer

A)  product groupings;target markets
B)  target market;marketing program
C)  subjective;objective
D)  revenues generated;market share achieved
E)  feasibility;time required to implementF) A) and C)
G) C) and D)

Question 13

The number one consumer complaint about bananas is how soon they start getting brown spots.Dole MOST LIKELY set a(n) __________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm) to make a creamy,guilt-free dessert.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  social responsibilityF) C) and D)
G) B) and D)

Question 14

A marketing plan is developed during which phase of the strategic marketing process?

Accepted Answer

A)  implementation
B)  control
C)  development
D)  planning
E)  evaluationF) B) and D)
G) A) and B)

Question 15

Business firms pursue several different types of goals.A(n) __________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Accepted Answer

A)  customer satisfaction
B)  shareholder
C)  profit minimization
D)  social responsibility
E)  employee welfareF) B) and E)
G) None of the above

Question 16

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)  is based solely on company perception rather than actual data.
B)  considers all factors that might impact an SBU's value to an organization.
C)  acts as a strong motivational tool for employees in SBUs that have been labeled "dogs" or "question marks."
D)  forces a firm to place each of its SBUs in the growth-share matrix,which in turn suggests which SBUs will be cash producers or cash users in the future.
E)  identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings.F) A) and B)
G) A) and C)

Question 17

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) All of the above

Question 18

Men's Wearhouse (MW) caters to the man who doesn't necessarily enjoy shopping.Its stores are located in shopping centers 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) A) and C)
G) A) and B)

Question 19

Which of the following statements about strategy is MOST ACCURATE?

Accepted Answer

A)  An organization can be all things to all people because it has access to all the resources it needs to discover and satisfy the needs and wants of its target markets.
B)  The marketing department helps to both set an organization's direction and move it there.
C)  The American Marketing Association (AM
A)  recently has established the definition of strategy.
D)  Strategy is an organization's short-term course of action designed to deliver a specific customer experience while achieving its internal standards.
E)  Only start-up organizations must develop strategies to help them (1) raise capital and (2) focus and direct their efforts to accomplish their goals.F) A) and B)
G) B) and E)

Question 20

In Figure 2-2 above,"B" represents the "what" element of visionary organization.This is referred to as __________.

Accepted Answer

A)  organizational tactics
B)  organizational mission
C)  organizational foundation
D)  organizational direction
E)  organizational strategiesF) A) and E)
G) None of the above

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements about strategy is MOST ACCURATE?

Correct Answer
verified

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

Correct Answer
verified

In keeping with its business mission,Ben & Jerry's

Correct Answer
verified

Correct Answer
verified

The term marketing strategy is used to address both the and the .

Correct Answer
verified

In its business portfolio analysis,an organization's SBUs often start as "" and eventually become "."

Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
verified

Explain what a visionary organization is and the three questions ("why," "what," and "how")that need to be answered that formulate its strategies.

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

The corporate level refers to the level in an organization where top management

Correct Answer
verified

The strategic business unit level

Correct Answer
verified

Correct Answer
verified

A marketing plan is developed during which phase of the strategic marketing process?

Correct Answer
verified

Diversification refers to the marketing strategy of

Correct Answer
verified

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

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

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 SBUs that are classified as having

Correct Answer
verified

In Figure 2-2 above,"B" represents the "what" element of visionary organization.This is referred to as __________.

Correct Answer
verified

Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Correct Answer
verified

Business firms pursue several different types of goals.A(n) __________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Correct Answer
verified

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements about strategy is MOST ACCURATE?

Correct AnswerverifiedShow Answer

All of the following are components of the implementation phase of the strategic marketing process EXCEPT:

Correct AnswerverifiedShow Answer

In keeping with its business mission,Ben & Jerry's

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The term marketing strategy is used to address both the __________ and the __________.

Correct AnswerverifiedShow Answer

In its business portfolio analysis,an organization's SBUs often start as "__________" and eventually become "__________."

Correct AnswerverifiedShow Answer

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Correct AnswerverifiedShow Answer

Explain what a visionary organization is and the three questions ("why," "what," and "how")that need to be answered that formulate its strategies.

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

The corporate level refers to the level in an organization where top management

Correct AnswerverifiedShow Answer

The strategic business unit level

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A marketing plan is developed during which phase of the strategic marketing process?

Correct AnswerverifiedShow Answer

Diversification refers to the marketing strategy of

Correct AnswerverifiedShow Answer

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

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

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 SBUs that are classified as having

Correct AnswerverifiedShow Answer

In Figure 2-2 above,"B" represents the "what" element of visionary organization.This is referred to as __________.

Correct AnswerverifiedShow Answer

Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Correct AnswerverifiedShow Answer

Business firms pursue several different types of goals.A(n) __________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Correct AnswerverifiedShow Answer

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The term marketing strategy is used to address both the and the .

Correct Answer
verified

In its business portfolio analysis,an organization's SBUs often start as "" and eventually become "."

Correct Answer
verified

Two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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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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