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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.


A) customer satisfaction
B) shareholder
C) profit minimization
D) social responsibility
E) employee welfare

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

Correct Answer

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Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals.Due to the resources it makes available to its scientists and researchers,the company has a number of Nobel Prize winners working in its laboratories.This ability to employ some of the finest minds in the world is an example of a


A) point of similarity.
B) competency.
C) sustainable advantage.
D) product development strategy.
E) human resource strategy.

F) A) and B)
G) B) and C)

Correct Answer

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Recently,St.Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year.The hospital touts universal values to 'keep healthcare human' and employees consistently put patients first,which unites them in a common goal.Hospital President Kathy Young believes that St.Joseph's __________ makes both her employees and patients happier in her hospital.


A) ethos
B) service offerings
C) organizational culture
D) pathos
E) behavioral protocol

F) None of the above
G) A) and E)

Correct Answer

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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


A) sustainability doctrine.
B) goals and objectives.
C) core values.
D) moral distinctives.
E) functional strategy.

F) A) and C)
G) B) and C)

Correct Answer

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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) innovation squads.
B) a business consortium.
C) multiple strategic directional teams.
D) strategic evaluation teams.
E) cross-functional teams.

F) A) and B)
G) All of the above

Correct Answer

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Which of the following statements regarding stakeholders is most accurate?


A) Employees are typically not classified as a stakeholder group because they are internal to the organization.
B) There are only three types of stakeholders: customers,suppliers,and distributors.
C) All stakeholders are internal to the organization.
D) Stakeholders are a varied group; all are in some way affected by how well a company performs.
E) Stakeholders are only those that have an ownership stake in an organization.

F) B) and C)
G) C) and D)

Correct Answer

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An organization's foundation includes which of these?


A) core values
B) business definition
C) goals
D) strategic levels
E) offerings

F) All of the above
G) B) and C)

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An industry refers to


A) organizations that develop similar offerings.
B) organizations who manufacture identical products to meet ISO 9000 specifications.
C) companies that are active in the production of materials that are 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) C) and E)
G) D) and E)

Correct Answer

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"To contribute to human welfare by application of biomedical engineering in the research,design,manufacture,and sale of instruments or appliances that alleviate pain,restore health,and extend life" is Medtronic's __________.


A) core value proposition
B) corporate culture
C) functional goal
D) sustainability doctrine
E) mission statement

F) None of the above
G) B) and D)

Correct Answer

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David and Cecilia Stanford,owners of Prairie Herb vinegars,decided to offer the product in 5-ounce and 13-ounce sizes.They decided to sell the vinegar only through the mail and to price the smaller bottle at $4.45 and the largest bottle at $13.25.These actions consist of Prairie Herb's marketing


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

F) C) and E)
G) A) and E)

Correct Answer

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According to Mark Zuckerberg,founder and CEO of Facebook,"We have a saying: 'Move fast and break things.' The idea is that if you never break anything,you're probably not moving fast enough." Moving fast to build more things and learn faster is one of Facebook's


A) sustainability doctrines.
B) goals and objectives.
C) core values.
D) moral imperatives.
E) functional strategy.

F) B) and E)
G) C) and E)

Correct Answer

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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(n) __________ goal.


A) profit
B) sales revenue
C) quality
D) market share
E) employee welfare

F) None of the above
G) D) and E)

Correct Answer

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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."Question marks" are SBUs that are classified as having


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) B) and D)

Correct Answer

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The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) develop schedules; and (4) __________.


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) A) and C)
G) B) and E)

Correct Answer

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Which of the following statements regarding a marketing dashboard is most accurate?


A) The more text (words) that is displayed,the better it is for a marketing manager to identify trends,interpret the data,and take corrective actions.
B) A marketing dashboard very often includes 20 or more marketing metrics on the same dashboard computer screen.
C) Marketing dashboards provide graphic displays of a product category's performance,such as sales,website traffic,etc.
D) For accuracy,the marketing dashboard should be updated weekly.
E) Marketing dashboards often show key measures such as HR turnover,strategy success,and societal well-being.

F) A) and C)
G) None of the above

Correct Answer

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


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

F) A) and E)
G) A) and C)

Correct Answer

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"HowAboutWe is the fastest,easiest,most fun way to go on awesome dates" is the __________ for the online dating service that focuses on setting up actual activities as dates for its users.


A) sustainability doctrine
B) core benefit proposition
C) corporate philosophy
D) mission statement
E) code of ethics

F) All of the above
G) A) and E)

Correct Answer

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Consider the Lands' End ad above.Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return,for any reason.Guaranteed.Period."


A) competitive advantage
B) core values
C) core benefit proposition
D) customers
E) mission statement

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

Correct Answer

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Compared to marketing strategies,marketing tactics generally involve actions that


A) are detailed day-to-day operational decisions.
B) are long-term rather than short-term.
C) involve upper levels of management rather than front-line managers.
D) are general rather than specific in nature.
E) have been successfully implemented in the past.

F) A) and E)
G) A) and D)

Correct Answer

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


A) product
B) price
C) promotion
D) place
E) people

F) A) and B)
G) C) and D)

Correct Answer

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