Question 1

A technique that managers use to categorize strategic business units as question marks,stars,cash cows,or dogs is referred to as

Accepted Answer

A)   an investment (ROI)  analysis.
B)   a synergy analysis.
C)   a marketing audit.
D)   a diversification analysis.
E)   a business portfolio analysis.F) C) and E)
G) None of the above

Question 2

In the 1980s,a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy.The company's share of the U.S.super-heavyweight market segment-motorcycles with engine capacity of 850 cubic centimeters or more-had shrunk from over 40 percent in the mid-1970s to 23 percent in 1983.But by 1989,Harley-Davidson controlled some 65 percent of this market segment.From a marketing perspective,what was the most likely first step in Harley-Davidson's resurgence?

Accepted Answer

A)   developing a new mission statement
B)   repositioning its products in the minds of super heavyweight motorcycle buyers
C)   performing a SWOT analysis to assess the firm's internal and external environments
D)   selling new models of super heavyweight motorcycles in both the United States (current)  and foreign (new)  markets
E)   improving the quality of its products and communicating this to motorcycle buyersF) All of the above
G) A) and B)

Question 3

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)   comparing the results of the marketing program with the goals to identify deviations and acting on them.
E)   executing the marketing plan and designing the marketing organization.F) None of the above
G) B) and D)

Question 4

Businesses sometimes pursue __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Accepted Answer

A)   a customer satisfaction
B)   a shareholder
C)   a profit minimization
D)   a social responsibility
E)   an employee welfareF) A) and C)
G) B) and E)

Question 5

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

Accepted Answer

A)   organizational foundation.
B)   organizational tactics.
C)   organizational mission.
D)   organizational direction.
E)   organizational strategies.F) A) and E)
G) B) and C)

Question 6

In marketing,an offering refers to

Accepted Answer

A)   the formal designation of a publicly traded stock for a specific product, service, or idea.
B)   a form of currency used by buyer and seller to minimize the tax burden for both parties.
C)   a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.
D)   the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers.
E)   the service suppliers and distributors provide to help manufacturers bring a product to market.F) A) and E)
G) All of the above

Question 7

Figure 2-5 
-Lego has traditionally been successful selling its classic construction sets to boys.Recently,Lego introduced a line of building toys especially for girls called Lego Friends.It includes feminine characters,pink and purple theme colors,and allows girls to construct more story-related activities.The company felt this was a way to reach into the girl's toy market where alternatives include princess games and accessories.Considering Figure 2-5,this is an example of a __________ strategy that would be found in quadrant __________.

Accepted Answer

A)   market penetration; A
B)   product development; B
C)   diversification; D
D)   market development; C
E)   product-market expansion; DF) A) and D)
G) D) and E)

Question 8

To develop a successful marketing plan for a soft drink,the process of __________ would most likely be used to group consumers on the basis of whether they prefer sugar-free and caffeine-free soda,caffeine-free sugared soda,or regular soda with sugar and caffeine.

Accepted Answer

A)   market aggregation
B)   product segmentation
C)   customer grouping
D)   mass marketing
E)   market segmentationF) B) and E)
G) C) and D)

Question 9

Identify and describe the three steps of the planning phase of the strategic marketing process.

Accepted Answer

Step 1: situation (SWOT)analysis is an o...

Question 10

A mission statement should be all of these except which?

Accepted Answer

A)   short-term
B)   inspirational
C)   clear
D)   meaningful
E)   conciseF) A) and C)
G) B) and C)

Question 11

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Accepted Answer

A)   unit sales goal.
B)   market share goal.
C)   social responsibility goal.
D)   sales revenue goal.
E)   customer satisfaction goal.F) A) and B)
G) A) and C)

Question 12

A(n) __________ is a good,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)   nonprofit
D)   offering
E)   industryF) A) and D)
G) B) and D)

Question 13

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Accepted Answer

A)   tactics.
B)   missions.
C)   visions.
D)   strategies.
E)   customer values.F) B) and E)
G) None of the above

Question 14

Figure 2-1 
-In Figure 2-1,Box A represents the

Accepted Answer

A)   functional level.
B)   board of directors.
C)   corporate level.
D)   CEO.
E)   strategic business unit level.F) A) and E)
G) C) and E)

Question 15

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) D) and E)
G) C) and E)

Question 16

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

Accepted Answer

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

Question 17

The strategic marketing process

Accepted Answer

A)   involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
B)   is a technique to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.
C)   describes an organization's appraisal of its internal strengths and weaknesses and its external opportunities and threats.
D)   is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
E)   seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.F) D) and E)
G) B) and C)

Question 18

An example of a nonprofit organization is

Accepted Answer

A)   the Food and Drug Administration.
B)   CVS Pharmacies.
C)   the medical technology company Medtronic, Inc.
D)   the pharmaceutical company Pfizer, Inc.
E)   the American Red Cross.F) A) and E)
G) A) and D)

Question 19

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

Accepted Answer

A)   target marketing
B)   synergy analysis
C)   market-product grids
D)   business portfolio analysis
E)   diversification analysisF) A) and B)
G) B) and D)

Question 20

The Boston Consulting Group (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

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

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct Answer
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Businesses sometimes pursue __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Correct Answer
verified

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Correct Answer
verified

Identify and describe the three steps of the planning phase of the strategic marketing process.

Correct Answer
verified
Step 1: situation (SWOT)analysis is an o...
View Answer

A mission statement should be all of these except which?

Correct Answer
verified

The strategic marketing process

Correct Answer
verified

The Boston Consulting Group (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

Correct Answer
verified

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

Correct Answer
verified

Figure 2-1 -In Figure 2-1,Box A represents the

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

A technique that managers use to categorize strategic business units as question marks,stars,cash cows,or dogs is referred to as

Correct Answer
verified

In marketing,an offering refers to

Correct Answer
verified

An example of a nonprofit organization is

Correct Answer
verified

Correct Answer
verified

To develop a successful marketing plan for a soft drink,the process of __________ would most likely be used to group consumers on the basis of whether they prefer sugar-free and caffeine-free soda,caffeine-free sugared soda,or regular soda with sugar and caffeine.

Correct Answer
verified

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

Correct Answer
verified

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct AnswerverifiedShow Answer

Businesses sometimes pursue __________ goal to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Correct AnswerverifiedShow Answer

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck,the Amarok,hoping it would be a clever way to get people to engage.This action is an example of Volkswagen's marketing

Correct AnswerverifiedShow Answer

Identify and describe the three steps of the planning phase of the strategic marketing process.

Correct AnswerverifiedStep 1: situation (SWOT)analysis is an o...View AnswerShow Answer

A mission statement should be all of these except which?

Correct AnswerverifiedShow Answer

The strategic marketing process

Correct AnswerverifiedShow Answer

The Boston Consulting Group (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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1,Box A represents the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A technique that managers use to categorize strategic business units as question marks,stars,cash cows,or dogs is referred to as

Correct AnswerverifiedShow Answer

In marketing,an offering refers to

Correct AnswerverifiedShow Answer

An example of a nonprofit organization is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

To develop a successful marketing plan for a soft drink,the process of __________ would most likely be used to group consumers on the basis of whether they prefer sugar-free and caffeine-free soda,caffeine-free sugared soda,or regular soda with sugar and caffeine.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Hasbro is a more than $4 billion global toy company that prides itself on donating to organizations that help children,since this group and their parents comprise the target market for its business.This is an example of a

Correct AnswerverifiedShow Answer

Correct Answer
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verified
Step 1: situation (SWOT)analysis is an o...
View Answer

Correct Answer
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Correct Answer
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