Question 1

FIGURE 2-14 
-Identify and briefly describe the three vital phases of the strategic marketing process.Name them according to cells identified as A, B, and C shown in Figure 2-14 above.

Accepted Answer

Planning phase (A)-three steps in the pl...

Question 2

Explain what a planning gap is and what is used to close it.

Accepted Answer

A planning gap is the difference between...

Question 3

Strategy refers to

Accepted Answer

A)  an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals.
B)  an organization's corporate action plan.
C)  statements of an accomplishment of a task to be achieved by a certain time.
D)  a statement of the organization's function in society, often identifying its customers, markets, product, and technologies.
E)  a road map for the entire organization for a specified future period of time, such as one or five years.F) B) and C)
G) C) and D)

Question 4

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 experiments by purchasing a case of large take-home containers, so not only can customers stop on the way home from school or work, they can enjoy the gelato after dinner as well.Profits begin to rise.This is an example of a __________ strategy that would be found in box _________.

Accepted Answer

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

Question 5

Industry refers to

Accepted Answer

A)  organizations that create similar offerings.
B)  organizations bound by contract who manufacture similar goods to specific governmental standards.
C)  companies that are active in the production of materials for construction or maintenance of other finished goods.
D)  a group of people or firms united through contractual or corporate ownership.
E)  a publicly owned and operated organization that serves the general population by offering specialized goods or services.F) A) and C)
G) B) and D)

Question 6

Which of the following statements regarding stakeholders is most accurate?

Accepted Answer

A)  Employees are typically not classified as a stakeholder group.
B)  There are only three types of external stakeholders-customers, suppliers, and distributors.
C)  All stakeholders are internal to the organization.
D)  Stakeholders are in some way affected by how well a company performs.
E)  Stakeholders are impacted by, but have no real impact on, how well a company performs.F) A) and C)
G) A) and B)

Question 7

According to Figure 2-2 above, what are the three elements today's visionary organization must do to be forward looking and successful in its marketing environment?

Accepted Answer

Management experts stress that to be suc...

Question 8

A subsidiary, division, or unit of an organization that directs overall strategy for the organization that markets a set of related products to a clearly defined group of customers is referred to as a(n)

Accepted Answer

A)  strategic business unit.
B)  independent franchise.
C)  private corporation.
D)  corporate holding.
E)  marketing department.F) B) and E)
G) A) and B)

Question 9

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation is referred to as

Accepted Answer

A)  creative advantage.
B)  marketing edge.
C)  distinct competency.
D)  competitive advantage.
E)  derived benefit.F) All of the above
G) B) and E)

Question 10

"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life" is Medtronic's

Accepted Answer

A)  core value.
B)  mission statement.
C)  corporate culture.
D)  functional goal.
E)  environmental strategy.F) B) and D)
G) C) and E)

Question 11

What is a corporate mission? What are some elements of a well-written mission statement?

Accepted Answer

By understanding its core values, an org...

Question 12

At the functional level, the organization's strategic direction becomes

Accepted Answer

A)  much more manageable since the product or service has been finalized.
B)  the most specific and most focused in terms of implementing the company's goals.
C)  focused on integrating forecasting data with actual sales figures.
D)  more general, in order to avoid "tunnel vision" that could result in missed opportunities.
E)  the sole responsibility of the CEO.F) A) and E)
G) B) and E)

Question 13

If Ben & Jerry's starts selling children's clothing in Brazil to try to capitalize on its brand name, this would be an example of _________.

Accepted Answer

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

Question 14

In 2003, Kodak's traditional film sales were an $8 billion dollar cash cow.In 2008, the revenue generated from file sales dropped to $3 billion.The film SBU became a dog primarily due to

Accepted Answer

A)  an unforeseen increase in composite materials necessary for production.
B)  the advent of digital photography popularity.
C)  political activism concerning the waste of natural resources.
D)  too much revenue shifted from this SBU to another more profitable one.
E)  a class action lawsuit against the firm.F) B) and C)
G) A) and D)

Question 15

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Accepted Answer

A)  Business firms operate with larger budgets than nonprofits.
B)  Nonprofit organizations do not carry on economic activities, and business firms do.
C)  Nonprofit organizations are concerned with social issues, and business firms are not.
D)  Both serve customers, but business firms seek a profit while nonprofit organizations do not.
E)  Nonprofit organizations are publicly owned, and business firms are privately owned.F) C) and D)
G) A) and B)

Question 16

FIGURE 2-3 
-According to Figure 2-3 above, in terms of sales and percent margin it can be inferred that in the year 2000

Accepted Answer

A)  profits hit an all time low.
B)  the gap between sales and percent margin was greatest.
C)  sales were five times higher than in 1999.
D)  September represented an all time low for the year.
E)  had the highest percent margin.F) B) and E)
G) A) and D)

Exam 2: Developing Successful Marketing and Organizational Strategies

If Ben & Jerry's starts selling children's clothing in Brazil to try to capitalize on its brand name, this would be an example of _________.

Correct Answer
verified

Industry refers to

Correct Answer
verified

At the functional level, the organization's strategic direction becomes

Correct Answer
verified

What is a corporate mission? What are some elements of a well-written mission statement?

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

A subsidiary, division, or unit of an organization that directs overall strategy for the organization that markets a set of related products to a clearly defined group of customers is referred to as a(n)

Correct Answer
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Explain what a planning gap is and what is used to close it.

Correct Answer
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A planning gap is the difference between...
View Answer

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Correct Answer
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Correct Answer
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A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation is referred to as

Correct Answer
verified

FIGURE 2-14 -Identify and briefly describe the three vital phases of the strategic marketing process.Name them according to cells identified as A, B, and C shown in Figure 2-14 above.

Correct Answer
verified
Planning phase (A)-three steps in the pl...
View Answer

According to Figure 2-2 above, what are the three elements today's visionary organization must do to be forward looking and successful in its marketing environment?

Correct Answer
verified
Management experts stress that to be suc...
View Answer

FIGURE 2-3 -According to Figure 2-3 above, in terms of sales and percent margin it can be inferred that in the year 2000

Correct Answer
verified

Which of the following statements regarding stakeholders is most accurate?

Correct Answer
verified

Strategy refers to

Correct Answer
verified

In 2003, Kodak's traditional film sales were an $8 billion dollar cash cow.In 2008, the revenue generated from file sales dropped to $3 billion.The film SBU became a dog primarily due to

Correct Answer
verified

"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life" is Medtronic's

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

If Ben & Jerry's starts selling children's clothing in Brazil to try to capitalize on its brand name, this would be an example of _________.

Correct AnswerverifiedShow Answer

Industry refers to

Correct AnswerverifiedShow Answer

At the functional level, the organization's strategic direction becomes

Correct AnswerverifiedShow Answer

What is a corporate mission? What are some elements of a well-written mission statement?

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

A subsidiary, division, or unit of an organization that directs overall strategy for the organization that markets a set of related products to a clearly defined group of customers is referred to as a(n)

Correct AnswerverifiedShow Answer

Explain what a planning gap is and what is used to close it.

Correct AnswerverifiedA planning gap is the difference between...View AnswerShow Answer

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation is referred to as

Correct AnswerverifiedShow Answer

FIGURE 2-14 -Identify and briefly describe the three vital phases of the strategic marketing process.Name them according to cells identified as A, B, and C shown in Figure 2-14 above.

Correct AnswerverifiedPlanning phase (A)-three steps in the pl...View AnswerShow Answer

According to Figure 2-2 above, what are the three elements today's visionary organization must do to be forward looking and successful in its marketing environment?

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

FIGURE 2-3 -According to Figure 2-3 above, in terms of sales and percent margin it can be inferred that in the year 2000

Correct AnswerverifiedShow Answer

Which of the following statements regarding stakeholders is most accurate?

Correct AnswerverifiedShow Answer

Strategy refers to

Correct AnswerverifiedShow Answer

In 2003, Kodak's traditional film sales were an $8 billion dollar cash cow.In 2008, the revenue generated from file sales dropped to $3 billion.The film SBU became a dog primarily due to

Correct AnswerverifiedShow Answer

"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life" is Medtronic's

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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By understanding its core values, an org...
View Answer

Correct Answer
verified

Correct Answer
verified
A planning gap is the difference between...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Planning phase (A)-three steps in the pl...
View Answer

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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