Question 1

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)  causes dissension between different divisions when one is labeled a "star" and another a "dog."
B)  reduces employee motivation to move a low valued SBU to a higher one.
C)  considers too many SBU factors beyond market growth rate and relative market share.
D)  does not require sales forecasts in order to be implemented.
E)  is often difficult to obtain the needed information to correctly place SBUs in the matrix.F) A) and E)
G) D) and E)

Question 2

An organization's foundation can be broken into three key elements:

Accepted Answer

A)  products,services,and ideas.
B)  business definition,long-term goals,and short-term objectives.
C)  board of directors,top management,and stakeholders.
D)  corporate-level strategies,SBU-level strategies,and functional-level strategies.
E)  core values,mission/vision,and organizational culture.F) C) and E)
G) B) and E)

Question 3

GM's original first-year __________ goal for the Volt was 10,000 units,although the product was well into its second year before reaching that level.

Accepted Answer

A)  profit
B)  market share
C)  sales
D)  customer satisfaction
E)  survivalF) All of the above
G) D) and E)

Question 4

Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)  market aggregation
B)  market segmentation
C)  product segmentation
D)  product grouping
E)  mass marketingF) All of the above
G) B) and D)

Question 5

When participating in major projects in college marketing classes,effective teams can make use of a __________ to be sure that each team member does a fair amount of work and that their class projects are finished efficiently and on time.

Accepted Answer

A)  market-product grid
B)  project schedule
C)  Plan-A-Gram
D)  Gantt chart
E)  sales response functionF) A) and C)
G) D) and E)

Question 6

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."Cash cows" 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) C) and D)
G) A) and D)

Question 7

A situation analysis refers to

Accepted Answer

A)  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)  an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment.
C)  the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
D)  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.
E)  the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.F) A) and E)
G) A) and D)

Question 8

In Figure 2-2 above,"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 strategiesF) B) and E)
G) A) and B)

Question 9

All of the following are marketing actions that can be taken as a result of a SWOT analysis EXCEPT:

Accepted Answer

A)  exploit an opportunity.
B)  correct a weakness.
C)  avoid a disaster-laden threat.
D)  build on a strength.
E)  secure the necessary resources (financial,human,technological) to fund new SBUs.F) A) and B)
G) B) and C)

Question 10

According to Figure 2-10 above,which student has the greatest number of assigned tasks?

Accepted Answer

A)  Student A
B)  Student B
C)  Student C
D)  Students A and B
E)  The students have the same number of tasks split between them.F) A) and D)
G) C) and D)

Question 11

In Figure 2-2 above,"C" represents the "how" 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 strategiesF) A) and D)
G) B) and C)

Question 12

All of the following are names the BCG has given to describe the four quadrants in its growth-share matrix EXCEPT:

Accepted Answer

A)  dogs.
B)  stars.
C)  question marks.
D)  cash cows.
E)  hedgehogs.F) B) and C)
G) A) and B)

Question 13

An organization's foundation includes all of the following EXCEPT:

Accepted Answer

A)  organizational culture.
B)  business definition.
C)  vision.
D)  core values.
E)  mission.F) B) and D)
G) All of the above

Question 14

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 product,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) B) and C)
G) B) and D)

Question 15

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S. ,it would be using a __________ strategy.

Accepted Answer

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

Question 16

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks,responsibilities,and deadlines;and (4) __________.

Accepted Answer

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 profitsF) B) and C)
G) A) and B)

Question 17

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Accepted Answer

A)  employee satisfaction
B)  employee compensation
C)  employee responsibility
D)  employee core value
E)  employee welfareF) C) and E)
G) B) and C)

Question 18

Quadrant "C" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Accepted Answer

A)  Threat
B)  Weakness
C)  Strength
D)  Opportunity
E)  Market segmentF) A) and C)
G) A) and E)

Question 19

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

Accepted Answer

A)  market growth rate
B)  marketing efficiencies
C)  industry attractiveness
D)  market segment size
E)  relative market shareF) B) and D)
G) A) and E)

Question 20

What are the three steps involved in the planning phase of the strategic marketing process?

Accepted Answer

A)  Step 1: situation (SWOT) analysis;Step 2: market-product focus and goal setting;and Step 3: the marketing program
B)  Step 1: analysis;Step 2: planning;and Step 3: implementation
C)  Step 1: set market and product goals;Step 2: select target markets and find points of difference;and Step 3: position the product
D)  Step 1: identify industry trends;Step 2: analyze competitors;and Step 3: assess own organization
E)  Step 1: Why do we exist?;Step 2: What will we do?;and Step 3: How will we do it?F) None of the above
G) A) and B)

Exam 2: Developing Successful Organizational and Marketing Strategies

What are the three steps involved in the planning phase of the strategic marketing process?

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An organization's foundation includes all of the following EXCEPT:

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

Correct AnswerverifiedShow Answer

The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks,responsibilities,and deadlines;and (4) __________.

Correct AnswerverifiedShow Answer

A situation analysis refers to

Correct AnswerverifiedShow Answer

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."Cash cows" are SBUs that are classified as having

Correct AnswerverifiedShow Answer

Quadrant "C" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

GM's original first-year __________ goal for the Volt was 10,000 units,although the product was well into its second year before reaching that level.

Correct AnswerverifiedShow Answer

An organization's foundation can be broken into three key elements:

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 __________.

Correct AnswerverifiedShow Answer

One of the weaknesses inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Correct AnswerverifiedShow Answer

All of the following are marketing actions that can be taken as a result of a SWOT analysis EXCEPT:

Correct AnswerverifiedShow Answer

According to Figure 2-10 above,which student has the greatest number of assigned tasks?

Correct AnswerverifiedShow Answer

In Figure 2-2 above,"C" represents the "how" element of visionary organization.This is referred to as __________.

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Correct AnswerverifiedShow Answer

All of the following are names the BCG has given to describe the four quadrants in its growth-share matrix EXCEPT:

Correct AnswerverifiedShow Answer

When participating in major projects in college marketing classes,effective teams can make use of a __________ to be sure that each team member does a fair amount of work and that their class projects are finished efficiently and on time.

Correct AnswerverifiedShow Answer

In marketing,an offering refers to

Correct AnswerverifiedShow Answer

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the U.S. ,it would be using a __________ strategy.

Correct AnswerverifiedShow Answer

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