Question 1

Define "marketing dashboard" and "marketing metric" and explain how these terms are related.

Accepted Answer

A marketing dashboard is the visual disp...

Question 2

Diversification refers to the strategy of

Accepted Answer

A)  increasing sales of current products in existing markets.
B)  selling existing products to new markets.
C)  selling new products to new markets.
D)  selling new products to existing markets.
E)  selling two competing brands but owning them both.F) B) and C)
G) C) and E)

Question 3

The Boston Consulting Group (BCG)  business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The horizontal axis is the

Accepted Answer

A)  share relative to the newest entries into the market.
B)  share relative to the annual rate of growth of the SBU's industry.
C)  share relative to largest competitor.
D)  share relative to gross domestic product.
E)  share relative to the national average.F) B) and D)
G) A) and B)

Question 4

FIGURE 2-10 
-The bar graph in Figure 2-10 above for drug stores would most likely cause marketers to

Accepted Answer

A)  put more product into drugstores and remove product from club stores.
B)  find out why customers prefer more flavors in drug stores in December and exploit that information.
C)  reduce the choices to keep drug stores more in line with other distribution outlets.
D)  investigate shopping preferences of customers amongst different channel members.
E)  take corrective actions that would allow drug stores to sell as much as grocery stores.F) A) and B)
G) None of the above

Question 5

Today's organizations must be visionary-that is, they must

Accepted Answer

A)  anchor their forecasts upon data of company strategies that were successful in the past.
B)  examine the past carefully so as to learn from mistakes.
C)  anticipate future events and respond quickly and effectively.
D)  hire the most culturally diverse team possible in order to generate the best new ideas.
E)  involve all levels of the organization (including custodians)  in defining the organization's business mission.F) All of the above
G) A) and E)

Question 6

Marketing tactics refer to

Accepted Answer

A)  the long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  the detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)  the steps taken to develop an effective marketing plan.
D)  the development of marketing strategies to achieve the organization's marketing objectives.
E)  the refinement of the organization's mission based on the results obtained from a marketing audit.F) A) and D)
G) A) and C)

Question 7

Marketing metric refers to

Accepted Answer

A)  a measure of the quantitative value or trend of a marketing activity or result.
B)  a form of trend analysis used to predict potential profits in the future.
C)  one of a series of mathematical formulas used to calculate potential profits based upon different environmental factors.
D)  a qualitative measurement of a product's performance based upon input from members of a cross-functional team.
E)  the value of a product in terms of market share or growth rate relative to its closest competitors.F) B) and C)
G) A) and B)

Question 8

FIGURE 2-7 
-See Figure 2-7 above.A small family owned gelato business is the town's favorite place for parents and children to stop on their way home from work or school.However, the business owner is barely making ends meet.He is beginning to think that he will not be able to support his family if things don't improve, but he doesn't want to give up his store.Instead, he experiments by selling hand-made flies on the Internet for professional sports fishermen.This is an example of a __________ strategy that would be found in box _________.

Accepted Answer

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

Question 9

In the Boston Consulting Group (BCG)  model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects the

Accepted Answer

A)  national forecast.
B)  business portfolio in dollars.
C)  years of experience.
D)  market segment size.
E)  relative market share.F) A) and B)
G) A) and C)

Question 10

In terms of an organization's business, railroads may have lost market share in the 20th century because they

Accepted Answer

A)  were too slow and cumbersome.
B)  defined their business too narrowly.
C)  defined their business too broadly.
D)  priced their services too high.
E)  were simply an outmoded form of transportation.F) A) and E)
G) All of the above

Question 11

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and that provide value to its customers are referred to as

Accepted Answer

A)  market edge.
B)  sustainable advantage.
C)  business aptitude.
D)  characteristics.
E)  core competencies.F) A) and B)
G) C) and E)

Question 12

Identify and describe the three phases of the strategic marketing process.

Accepted Answer

The three phases of the strategic market...

Question 13

Several years ago, Black & Decker purchased General Electric's small appliances product line.Black & Decker purchased the line because it needed the cash infusion from a product line that had a dominant market share.The small appliance industry is a slow-growth one.The small appliances product line is most likely a __________ for Black & Decker.

Accepted Answer

A)  dog
B)  cash cow
C)  question mark
D)  star
E)  problem childF) D) and E)
G) A) and B)

Question 14

The second phase of the strategic marketing process is the _________, which involves carrying out the marketing plan that emerges from the planning phase.

Accepted Answer

A)  motivational phase
B)  strategic phase
C)  planning phase
D)  implementation phase
E)  evaluation phaseF) All of the above
G) B) and D)

Question 15

Large organizations are extremely complex.They usually consist of _________ organizational level(s)  whose strategy is linked to marketing.

Accepted Answer

A)  three
B)  five
C)  ten
D)  fifteen
E)  twenty to thirtyF) D) and E)
G) All of the above

Question 16

In the 20th century railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of _________.

Accepted Answer

A)  transportation
B)  mail delivery
C)  customer travel
D)  container shipping
E)  destination carrierF) None of the above
G) B) and D)

Question 17

A recent Congressional initiative mandated that the U.S.Department of Transportation (USDOT)  establish a national traffic information collection system.The marketing manager of a company that provided traffic reports for local radio stations would most likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A)  a weakness if the company has an existing working relationship with the USDOT.
B)  an opportunity if the USDOT will give this information directly to all radio stations.
C)  a weakness if the company that provides local traffic information has no employees technologically capable of using the USDOT system.
D)  a threat if the USDOT is creating a network of local traffic-information providers to address the mandate.
E)  part of a marketing plan; this information would not be part of a SWOT analysis.F) B) and E)
G) A) and D)

Question 18

Ben & Jerry's mission contains three interrelated parts.The primary focus of Ben & Jerry's product mission is to make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with

Accepted Answer

A)  milk obtained exclusively from large nationally certified dairies.
B)  the intent of making the highest profits possible without sacrificing product standards.
C)  ingredients that are completely organic and are grown in the same region where the ice cream is produced.
D)  a continued commitment to incorporating wholesome, natural ingredients and promoting business practices that respect the earth and the environment.
E)  .ingredients that come exclusively from democratic governments promoting fair labor practices.F) D) and E)
G) B) and C)

Question 19

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

Accepted Answer

A)  created a children's TV program with cartoon characters "Ben" and "Jerry" to teach about the importance of good nutrition.
B)  offered to buy out any failing family-owned ice cream parlor and turn it into a Ben & Jerry's franchise.
C)  invested in research to genetically engineer cows that will produce more hypoallergenic milk.
D)  donated free scoop ice cream coupons to all children who get perfect check-ups at the dentist to show that the calcium in ice cream can be a fun way to keep teeth strong.
E)  created "Goodbye Yellow Brickle Road" ice cream in partnership with Sir Elton John to help his worldwide AIDS Foundation.F) A) and E)
G) C) and D)

Question 20

FIGURE 2-2 
-In Figure 2-2 above, section "A" represents the "why" 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 strategies.F) A) and D)
G) B) and D)

Exam 2: Developing Successful Marketing and Organizational Strategies

The second phase of the strategic marketing process is the _________, which involves carrying out the marketing plan that emerges from the planning phase.

Correct Answer
verified

Today's organizations must be visionary-that is, they must

Correct Answer
verified

In the 20th century railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of _________.

Correct Answer
verified

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

Correct Answer
verified

Ben & Jerry's mission contains three interrelated parts.The primary focus of Ben & Jerry's product mission is to make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with

Correct Answer
verified

Large organizations are extremely complex.They usually consist of _________ organizational level(s) whose strategy is linked to marketing.

Correct Answer
verified

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and that provide value to its customers are referred to as

Correct Answer
verified

Correct Answer
verified

Diversification refers to the strategy of

Correct Answer
verified

In terms of an organization's business, railroads may have lost market share in the 20^th century because they

Correct Answer
verified

FIGURE 2-10 -The bar graph in Figure 2-10 above for drug stores would most likely cause marketers to

Correct Answer
verified

Marketing tactics refer to

Correct Answer
verified

Marketing metric refers to

Correct Answer
verified

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The horizontal axis is the

Correct Answer
verified

Identify and describe the three phases of the strategic marketing process.

Correct Answer
verified
The three phases of the strategic market...
View Answer

Define "marketing dashboard" and "marketing metric" and explain how these terms are related.

Correct Answer
verified
A marketing dashboard is the visual disp...
View Answer

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

Correct Answer
verified

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects the

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

The second phase of the strategic marketing process is the _________, which involves carrying out the marketing plan that emerges from the planning phase.

Correct AnswerverifiedShow Answer

Today's organizations must be visionary-that is, they must

Correct AnswerverifiedShow Answer

In the 20th century railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of _________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Ben & Jerry's mission contains three interrelated parts.The primary focus of Ben & Jerry's product mission is to make, distribute, and sell the finest quality all natural ice cream and euphoric concoctions with

Correct AnswerverifiedShow Answer

Large organizations are extremely complex.They usually consist of _________ organizational level(s) whose strategy is linked to marketing.

Correct AnswerverifiedShow Answer

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and that provide value to its customers are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Diversification refers to the strategy of

Correct AnswerverifiedShow Answer

In terms of an organization's business, railroads may have lost market share in the 20th century because they

Correct AnswerverifiedShow Answer

FIGURE 2-10 -The bar graph in Figure 2-10 above for drug stores would most likely cause marketers to

Correct AnswerverifiedShow Answer

Marketing tactics refer to

Correct AnswerverifiedShow Answer

Marketing metric refers to

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The horizontal axis is the

Correct AnswerverifiedShow Answer

Identify and describe the three phases of the strategic marketing process.

Correct AnswerverifiedThe three phases of the strategic market...View AnswerShow Answer

Define "marketing dashboard" and "marketing metric" and explain how these terms are related.

Correct AnswerverifiedA marketing dashboard is the visual disp...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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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
verified

Correct Answer
verified

Correct Answer
verified

In terms of an organization's business, railroads may have lost market share in the 20^th century because they

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The three phases of the strategic market...
View Answer

Correct Answer
verified
A marketing dashboard is the visual disp...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified