Question 1

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

Accepted Answer

A)  the corporate executive overseer.
B)  the chief executive officer.
C)  the corporate executive official.
D)  the chief marketing officer.
E)  the coordinating executive official.F) All of the above
G) A) and B)

Question 2

Those characteristics of a product that make it superior to competitive substitutes are referred to as __________.

Accepted Answer

A)  core benefit propositions
B)  marketing mix elements
C)  points of difference
D)  marketing attributes
E)  product protocolsF) B) and C)
G) B) and D)

Question 3

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee __________ goal.

Accepted Answer

A)  satisfaction
B)  responsibility
C)  compensation
D)  core value
E)  welfareF) None of the above
G) D) and E)

Question 4

The functional level in an organization is where

Accepted Answer

A)  groups of specialists actually create value for the organization.
B)  employees perform assigned tasks without actually having input into the decision making process.
C)  all financial outlays are made.
D)  all company hiring and firing occurs.
E)  the strategic planners in SBUs makes all decisions regarding which product benefits will be promoted during a promotional campaign.F) C) and D)
G) A) and E)

Question 5

Diversification analysis refers to

Accepted Answer

A)  a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
B)  a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
C)  a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
D)  a technique used to determine the appeal of each SBU or offering and then the amount of cash,if any,each should receive.
E)  a framework that identifies four "generic" strategies to achieve a competitive advantage.F) None of the above
G) A) and B)

Question 6

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

Accepted Answer

A)  developed new nut- and dairy-free alternatives for those with intolerance or allergy issues.
B)  created social entrepreneurship programs to help nonprofit organizations give jobs to at-risk youth.
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk.
D)  limited its advertising to nonprint media.
E)  packaged its next line of bulk ice cream in glass containers that not only keep the ice cream colder,but are recyclable as well.F) A) and D)
G) A) and C)

Question 7

Figure 2-4 shown above represents which type of analysis?

Accepted Answer

A)  SWOT analysis
B)  synergy analysis
C)  marketing audit
D)  diversification analysis
E)  business portfolio analysisF) A) and E)
G) B) and C)

Question 8

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Accepted Answer

Market segmentation involves aggregating...

Question 9

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a(n) __________ goal.

Accepted Answer

A)  profit
B)  customer satisfaction
C)  market share
D)  employee welfare
E)  social responsibilityF) B) and C)
G) C) and E)

Question 10

The __________ element of the marketing mix includes channels and transportation.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  peopleF) B) and E)
G) A) and D)

Question 11

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

Accepted Answer

A)  obtain resources
B)  select target markets
C)  position the product
D)  find points of difference
E)  develop the budget by estimating revenues,expenses,and profitsF) C) and D)
G) A) and B)

Question 12

The second phase of the strategic marketing process is the __________.

Accepted Answer

A)  tactics phase
B)  strategic phase
C)  planning phase
D)  implementation phase
E)  evaluation phaseF) A) and D)
G) C) and E)

Question 13

What is a mission?

Accepted Answer

By understanding its core values,an orga...

Question 14

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Accepted Answer

A)  find points of difference
B)  execute the marketing program
C)  track sales and revenues and compare with competitors
D)  develop the budget by estimating revenues,expenses,and profits
E)  exploit positive deviations and correct negative onesF) A) and B)
G) All of the above

Question 15

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in Latvia,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

Which of the marketing strategies for expanding sales revenue below presents the most risk for an organization?

Accepted Answer

A)  product development
B)  product-market evolution
C)  market development
D)  market penetration
E)  diversificationF) A) and E)
G) A) and C)

Question 17

George Zimmer,the former CEO of Men's Wearhouse,was known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring,"You'll like the way you look,I Guarantee it!" He also said that to be successful,"You've got to have a company that starts with trust and fairness." Zimmer was attempting to establish a(n) ___________ for Men's Wearhouse.

Accepted Answer

A)  vision
B)  mission statement
C)  pathos
D)  behavioral protocol
E)  organizational cultureF) B) and E)
G) B) and D)

Question 18

Seeking to obtain as high a financial return on their investments (ROI) as possible,firms will often set __________ goals.

Accepted Answer

A)  sales
B)  quality
C)  market share
D)  profit
E)  employee welfareF) All of the above
G) B) and D)

Question 19

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Accepted Answer

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

Question 20

Points of difference refer to

Accepted Answer

A)  the fundamental,passionate,and enduring principles of an organization that guide its conduct over time.
B)  the cluster of benefits that an organization promises customers to satisfy their needs.
C)  a unique strength relative to competitors that provides superior returns,often based on quality,time,cost,or innovation.
D)  those characteristics of a product that make it superior to competitive substitutes.
E)  the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm.F) A) and E)
G) B) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Points of difference refer to

Correct Answer
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The functional level in an organization is where

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

Correct Answer
verified

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

Correct Answer
verified

Those characteristics of a product that make it superior to competitive substitutes are referred to as __________.

Correct Answer
verified

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct Answer
verified

Seeking to obtain as high a financial return on their investments (ROI) as possible,firms will often set __________ goals.

Correct Answer
verified

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

Correct Answer
verified

The __________ element of the marketing mix includes channels and transportation.

Correct Answer
verified

What is a mission?

Correct Answer
verified
By understanding its core values,an orga...
View Answer

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee __________ goal.

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct Answer
verified
Market segmentation involves aggregating...
View Answer

Which of the marketing strategies for expanding sales revenue below presents the most risk for an organization?

Correct Answer
verified

Diversification analysis refers to

Correct Answer
verified

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

Correct Answer
verified

Figure 2-4 shown above represents which type of analysis?

Correct Answer
verified

Correct Answer
verified

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Correct Answer
verified

The second phase of the strategic marketing process is the __________.

Correct Answer
verified

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a(n) __________ goal.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Points of difference refer to

Correct AnswerverifiedShow Answer

The functional level in an organization is where

Correct AnswerverifiedShow Answer

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

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 Latvia,it would be using a __________ strategy.

Correct AnswerverifiedShow Answer

Those characteristics of a product that make it superior to competitive substitutes are referred to as __________.

Correct AnswerverifiedShow Answer

The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) __________.

Correct AnswerverifiedShow Answer

Seeking to obtain as high a financial return on their investments (ROI) as possible,firms will often set __________ goals.

Correct AnswerverifiedShow Answer

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads its strategy planning efforts is often referred to as

Correct AnswerverifiedShow Answer

The __________ element of the marketing mix includes channels and transportation.

Correct AnswerverifiedShow Answer

What is a mission?

Correct AnswerverifiedBy understanding its core values,an orga...View AnswerShow Answer

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee __________ goal.

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts.How could it use market segmentation to increase sales of the shirts? Be sure to include a definition of market segmentation in your answer.

Correct AnswerverifiedMarket segmentation involves aggregating...View AnswerShow Answer

Which of the marketing strategies for expanding sales revenue below presents the most risk for an organization?

Correct AnswerverifiedShow Answer

Diversification analysis refers to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 2-4 shown above represents which type of analysis?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Correct AnswerverifiedShow Answer

The second phase of the strategic marketing process is the __________.

Correct AnswerverifiedShow Answer

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a(n) __________ goal.

Correct AnswerverifiedShow Answer

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By understanding its core values,an orga...
View Answer

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Market segmentation involves aggregating...
View Answer

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