Question 1

its strategies that enable it to develop and market its offerings successfully.

Accepted Answer

A)  set a direction
B)  establish detailed marketing tactics
C)  assign job responsibilities
D)  set financial goals
E)  establish financial parametersF) C) and E)
G) A) and B)

Question 2

The Boston Consulting Group (BCG)  uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units

Accepted Answer

A)  as if each were a separate investment.
B)  in order to establish their worth to company shareholders.
C)  to determine which would be best suited for entry into a foreign market.
D)  to determine which units can be consolidated for production efficiency.
E)  to determine which units can be divided into separate more targeted units.F) C) and E)
G) C) and D)

Question 3

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

Accepted Answer

A)  profit
B)  sales revenue
C)  market share
D)  quality
E)  employee welfareF) A) and E)
G) All of the above

Question 4

The primary purpose of a marketing metric is to

Accepted Answer

A)  assign qualitative value to quantitative data.
B)  allow the sharing of information across industry lines.
C)  measure the quantitative value of a marketing activity.
D)  forecast potential investment opportunities over a period of five years.
E)  provide a numerically precise measurement of industry growth.F) A) and B)
G) None of the above

Question 5

Market share refers to

Accepted Answer

A)  the ratio of the profit of the firm to the total profits of all firms in the industry, not including the firm itself.
B)  the ratio of the profit of the firm to the total profits of all firms in the industry, including the firm itself.
C)  the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, not including the firm itself.
D)  the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.
E)  the ratio of the profits of all firms in an industry to the profits of the firm.F) C) and E)
G) A) and B)

Question 6

Lands' End ships each order within 48 hours and its guarantee is the best in the world-"Guaranteed.Period.®" These actions by Lands' End are most likely examples of __________ goals.

Accepted Answer

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

Question 7

The term used to identify the people who are affected by what a company does and how well it performs are an organization's _________.

Accepted Answer

A)  corporate citizens
B)  stakeholders
C)  shareholders
D)  potential customers base
E)  integrated resource baseF) A) and C)
G) A) and E)

Question 8

The two major aspects of the evaluation phase of the strategic marketing process are

Accepted Answer

A)  segmenting the market and selecting target markets.
B)  establishing a business mission and designing measurable goals and objectives.
C)  designing the marketing mix and setting the budget.
D)  identifying deviations from goals and acting on the deviations.
E)  executing the marketing plan and designing the marketing organization.F) B) and E)
G) B) and D)

Question 9

its specific long and short term goals.

Accepted Answer

A)  foundation
B)  direction
C)  culture
D)  strategy
E)  missionF) B) and E)
G) A) and E)

Question 10

Situation analysis requires a firm to consider both internal and external factors.Which of these is an example of an external factor?

Accepted Answer

A)  The firm buys its own fleet of trucks so it no longer needs to hire a trucking company for distribution.
B)  A hiring freeze is put into place.Although no one is fired no one can be hired.
C)  A goal is set to close the gap between production costs and profits.
D)  A local governance requires that all businesses within the city limits must reduce their waste by 5% or be fined.
E)  Shareholders are rewarded with a sizeable dividend check.F) A) and E)
G) C) and D)

Question 11

The Boston Consulting Group (BCG)  uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Accepted Answer

A)  target marketing
B)  business portfolio analysis
C)  marketing strategic planning
D)  market segmentation
E)  stock segmentationF) D) and E)
G) A) and D)

Question 12

Diversification analysis refers to

Accepted Answer

A)  a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
B)  a tool that helps identify the degree to which a firm or organization is in compliance with government regulations regarding the hiring of minorities.
C)  a formula used to award government contracts based upon a firm or organization complicity with federal hiring guidelines.
D)  a tool used to determine the appeal of each SBU or offering and then determine the amount of cash, if any, each should receive.
E)  a tool used to determine which products within a company's product line should be dropped due to a loss of market share in the industry.F) B) and E)
G) A) and B)

Question 13

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

Accepted Answer

When developing marketing programs for n...

Question 14

The Ben & Jerry's website states "Central to the mission of Ben & Jerry's is the belief that all three parts (product mission, economic mission, social mission)  must thrive equally in a manner that commands deep respect for individuals in and outside the company and supports the communities of which they are a part." This statement reflects Ben & Jerry's

Accepted Answer

A)  financial strategy.
B)  financial statements.
C)  core values.
D)  human resource strategy.
E)  global competitive strategy.F) A) and C)
G) C) and E)

Question 15

There is a General Motors plant in Spring Hill, Tennessee, that is devoted solely to the production of Saturn cars.At which organizational level is this plant operating? Explain your answer.

Accepted Answer

The Saturn plant operates as a business ...

Question 16

Which of the following statements regarding core values is most accurate?

Accepted Answer

A)  Core values are developed by cross-functional teams at all levels of an organization.
B)  Core values are the underpinnings of what ultimately motivates a firm's customers.
C)  Core values change as the product itself changes.
D)  Core values establish the norms of the firm's organizational culture.
E)  Core values cannot be separated for the financial realities of a firm's operating expenses.F) C) and D)
G) C) and E)

Question 17

A technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs)  as though they were a collection of separate investments is referred to as

Accepted Answer

A)  investment analysis.
B)  annual productivity report.
C)  quantitative review analysis.
D)  qualitative review analysis.
E)  business portfolio analysis.F) A) and D)
G) None of the above

Question 18

Which of the following statements regarding organizational foundation is most accurate?

Accepted Answer

A)  Organizational foundation is dynamic and fluid.It protects companies by ensuring that actions can be made quickly to respond to societal changes.
B)  An organizational foundation performs a mission similar to that of a union.It protects employee rights and provides legal, medical, or financial support for employees who are unable to provide for themselves.
C)  An organization's foundation evolves from the collective beliefs and goals of all its employees.Every employee has a voice in decision-making matters.
D)  An organization's foundation is its philosophical reason for being-why it exists-and rarely changes.
E)  An organization's foundation is the triad of the company, its product, and its customers.All three must be in sync in order for a company to succeed.F) A) and B)
G) D) and E)

Question 19

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Accepted Answer

A marketing program should include produ...

Question 20

A(n)  _________ is a product, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Accepted Answer

A)  organization
B)  business firm
C)  firm
D)  offering
E)  industryF) A) and E)
G) All of the above

Exam 2: Developing Successful Marketing and Organizational Strategies

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

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

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

Correct Answer
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Which of the following statements regarding organizational foundation is most accurate?

Correct Answer
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The two major aspects of the evaluation phase of the strategic marketing process are

Correct Answer
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Diversification analysis refers to

Correct Answer
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The term used to identify the people who are affected by what a company does and how well it performs are an organization's _________.

Correct Answer
verified

Lands' End ships each order within 48 hours and its guarantee is the best in the world-"Guaranteed.Period.®" These actions by Lands' End are most likely examples of __________ goals.

Correct Answer
verified

The primary purpose of a marketing metric is to

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct Answer
verified
A marketing program should include produ...
View Answer

its strategies that enable it to develop and market its offerings successfully.

Correct Answer
verified

Situation analysis requires a firm to consider both internal and external factors.Which of these is an example of an external factor?

Correct Answer
verified

Market share refers to

Correct Answer
verified

Correct Answer
verified

A technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) as though they were a collection of separate investments is referred to as

Correct Answer
verified

There is a General Motors plant in Spring Hill, Tennessee, that is devoted solely to the production of Saturn cars.At which organizational level is this plant operating? Explain your answer.

Correct Answer
verified
The Saturn plant operates as a business ...
View Answer

its specific long and short term goals.

Correct Answer
verified

The Boston Consulting Group (BCG) uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units

Correct Answer
verified

Which of the following statements regarding core values is most accurate?

Correct Answer
verified

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Correct Answer
verified

A(n) _________ is a product, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

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

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

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

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational foundation is most accurate?

Correct AnswerverifiedShow Answer

The two major aspects of the evaluation phase of the strategic marketing process are

Correct AnswerverifiedShow Answer

Diversification analysis refers to

Correct AnswerverifiedShow Answer

The term used to identify the people who are affected by what a company does and how well it performs are an organization's _________.

Correct AnswerverifiedShow Answer

Lands' End ships each order within 48 hours and its guarantee is the best in the world-"Guaranteed.Period.®" These actions by Lands' End are most likely examples of __________ goals.

Correct AnswerverifiedShow Answer

The primary purpose of a marketing metric is to

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts.What are the major components of the marketing program it should use to increase sales? Give one example of each.

Correct AnswerverifiedA marketing program should include produ...View AnswerShow Answer

its strategies that enable it to develop and market its offerings successfully.

Correct AnswerverifiedShow Answer

Situation analysis requires a firm to consider both internal and external factors.Which of these is an example of an external factor?

Correct AnswerverifiedShow Answer

Market share refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) as though they were a collection of separate investments is referred to as

Correct AnswerverifiedShow Answer

There is a General Motors plant in Spring Hill, Tennessee, that is devoted solely to the production of Saturn cars.At which organizational level is this plant operating? Explain your answer.

Correct AnswerverifiedThe Saturn plant operates as a business ...View AnswerShow Answer

its specific long and short term goals.

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units

Correct AnswerverifiedShow Answer

Which of the following statements regarding core values is most accurate?

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Correct AnswerverifiedShow Answer

A(n) _________ is a product, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.

Correct AnswerverifiedShow Answer

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

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A marketing program should include produ...
View Answer

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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Correct Answer
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The Saturn plant operates as a business ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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