Question 1

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

Accepted Answer

A)   CEO.
B)   CMO.
C)   CPM.
D)   CPO.
E)   COO.F) A) and E)
G) A) and D)

Question 2

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast-food businesses into untapped international markets, such as China, Russia, and India. This type of expansion would be a ________ strategy.

Accepted Answer

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

Question 3

Within the strategic marketing process, the ________ is the result of the planning phase that will be carried out in the implementation phase.

Accepted Answer

A)   marketing tactics
B)   business plan
C)   product protocol
D)   marketing plan
E)   marketing strategyF) C) and E)
G) A) and B)

Question 4

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

Accepted Answer

A)   an innovation squad.
B)   a business consortium.
C)   a multiple strategic directional team.
D)   a strategic evaluation team.
E)   a cross-functional team.F) All of the above
G) B) and C)

Question 5

Ling is in the business of connecting homeless with free shelters, and she funds her business through charitable donations and by placing ads in the shelters. She takes a small salary but reinvests whatever is left to grow the operation. Ling's business is a

Accepted Answer

A)   business firm.
B)   subchapter S corporation.
C)   charitable service agency.
D)   cooperative.
E)   nonprofit organization.F) A) and E)
G) C) and E)

Question 6

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 analysis requ...

Question 7

Product development 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) D) and E)
G) A) and B)

Question 8

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Accepted Answer

A)   product development
B)   market development
C)   diversification
D)   market saturation
E)   market penetrationF) B) and D)
G) D) and E)

Question 9

The marketing strategy of developing new products and selling them in new markets is referred to as

Accepted Answer

A)   product penetration.
B)   product development.
C)   market development.
D)   market penetration.
E)   diversification.F) C) and D)
G) A) and B)

Question 10

Hellmann's is a brand owned by Unilever that produces mayonnaise, among other food products. If a marketing manager at Hellman's identified that its brand managers lacked the expertise to create additional growth for the firm's products, she would likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A)   a weakness if the company does not have access to other expertise at Unilever.
B)   a strength if the company conceals this information from its competitors.
C)   an opportunity if Hellman's competitors have superior expertise.
D)   a threat if Hellman's does not have resources to develop additional expertise.
E)   part of a marketing plan; this information would not be part of a SWOT analysis.F) A) and B)
G) A) and C)

Question 11

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) A) and B)
G) None of the above

Question 12

Figure 2-2
-In Figure 2-2 above, Box A represents the "why" element of visionary organization. This is referred to as the organizational

Accepted Answer

A)   foundation.
B)   tactics.
C)   mission.
D)   direction.
E)   strategies.F) A) and E)
G) All of the above

Question 13

Figure 2-7
-Quadrant A in Figure 2-7 above represents a(n)  ________ in a SWOT analysis.

Accepted Answer

A)   a threat
B)   a weakness
C)   a strength
D)   an opportunity
E)   a market segmentF) A) and B)
G) B) and D)

Question 14

Medtronic, a company that makes heart pacemakers, introduced a new product at medical conventions across Asia to demonstrate its many beneficial features. The convention presentations are an example of its

Accepted Answer

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

Question 15

Toyota had some difficulty recovering from a recall crisis several years ago when it was forced to recall about 6 million vehicles due to a variety of problems, most notably one with the accelerator pedal. To "polish" its brand, it implemented stricter ________ goals to improve the safety and reliability of its vehicles.

Accepted Answer

A)   profit
B)   sales revenue
C)   customer satisfaction
D)   quality
E)   employee welfareF) A) and B)
G) B) and C)

Question 16

Specialized functions such as marketing and finance are generally referred to as

Accepted Answer

A)   cross-functional teams.
B)   managerial groups.
C)   divisions.
D)   departments.
E)   strategic business units.F) B) and E)
G) B) and D)

Question 17

Marketing tactics are the

Accepted Answer

A)   long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)   detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)   steps taken to develop an effective marketing plan.
D)   development of marketing strategies to achieve the organization's marketing objectives.
E)   refinement of the organization's mission based on the results obtained from a marketing audit.F) None of the above
G) B) and C)

Question 18

A part of the key role of marketing is to

Accepted Answer

A)   support the board of directors.
B)   operate at the corporate level.
C)   look outward by listening to customers.
D)   manage executives.
E)   deliver strategic business decisions.F) B) and E)
G) C) and E)

Question 19

Solarcom is a 30-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment. It has a large share of an industry that is growing worldwide. According to the BCG business portfolio analysis framework, Atlantix Global would most likely be classified as a

Accepted Answer

A)   dog.
B)   cash cow.
C)   question mark.
D)   sprout.
E)   star.F) None of the above
G) B) and E)

Question 20

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Accepted Answer

A)   market aggregation.
B)   market segmentation.
C)   product sorting.
D)   product grouping.
E)   mass marketing.F) B) and C)
G) D) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Medtronic, a company that makes heart pacemakers, introduced a new product at medical conventions across Asia to demonstrate its many beneficial features. The convention presentations are an example of its

Correct Answer
verified

Ling is in the business of connecting homeless with free shelters, and she funds her business through charitable donations and by placing ads in the shelters. She takes a small salary but reinvests whatever is left to grow the operation. Ling's business is a

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct Answer
verified

Marketing tactics are the

Correct Answer
verified

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

Correct Answer
verified

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct Answer
verified

Figure 2-2 -In Figure 2-2 above, Box A represents the "why" element of visionary organization. This is referred to as the organizational

Correct Answer
verified

Product development refers to the marketing strategy of

Correct Answer
verified

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Correct Answer
verified

Specialized functions such as marketing and finance are generally referred to as

Correct Answer
verified

Within the strategic marketing process, the ________ is the result of the planning phase that will be carried out in the implementation phase.

Correct Answer
verified

Correct Answer
verified

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Correct Answer
verified

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast-food businesses into untapped international markets, such as China, Russia, and India. This type of expansion would be a ________ strategy.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

A part of the key role of marketing is to

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 analysis requ...
View Answer

Exam 2: Developing Successful Organizational and Marketing Strategies

Medtronic, a company that makes heart pacemakers, introduced a new product at medical conventions across Asia to demonstrate its many beneficial features. The convention presentations are an example of its

Correct AnswerverifiedShow Answer

Ling is in the business of connecting homeless with free shelters, and she funds her business through charitable donations and by placing ads in the shelters. She takes a small salary but reinvests whatever is left to grow the operation. Ling's business is a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

Marketing tactics are the

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct AnswerverifiedShow Answer

Figure 2-2 -In Figure 2-2 above, Box A represents the "why" element of visionary organization. This is referred to as the organizational

Correct AnswerverifiedShow Answer

Product development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

If Ben & Jerry's starts selling its super premium ice cream in Brazil for the first time, it will be using a ________ strategy.

Correct AnswerverifiedShow Answer

Specialized functions such as marketing and finance are generally referred to as

Correct AnswerverifiedShow Answer

Within the strategic marketing process, the ________ is the result of the planning phase that will be carried out in the implementation phase.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action is referred to as

Correct AnswerverifiedShow Answer

Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fast-food businesses into untapped international markets, such as China, Russia, and India. This type of expansion would be a ________ strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A part of the key role of marketing is to

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 analysis requ...View AnswerShow Answer

Correct Answer
verified

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Correct Answer
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Correct Answer
verified
The BCG business portfolio analysis requ...
View Answer