Question 1

Based on the information in Figure 2-9 above, between 2003 and 2012 the planning gap

Accepted Answer

A)  is widening.
B)  is becoming narrower.
C)  is staying the same.
D)  size cannot be determined.
E)  began in 2003.F) A) and B)
G) All of the above

Question 2

The organizational foundation sets the " __________ "of organizations and organizational direction sets the " __________."

Accepted Answer

A)  why; what
B)  why; how
C)  what; how
D)  what; where
E)  how; whereF) A) and D)
G) A) and E)

Question 3

Marketing plan refers to

Accepted Answer

A)  the long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  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.
C)  a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
D)  the detailed day-to-day operational decisions essential to the overall success of marketing strategies.
E)  the refinement of the organization's mission based on the results obtained from a marketing audit.F) D) and E)
G) A) and C)

Question 4

Marketing goal setting involves setting measurable __________ to be achieved, possibly for a specific market, a specific product or brand, or an entire marketing program.

Accepted Answer

A)  financial limits
B)  marketing objectives
C)  quality standards
D)  production quotas
E)  research and development aspirationsF) All of the above
G) A) and C)

Question 5

What are the marketing mix elements that compose a cohesive marketing program?

Accepted Answer

Text Figure 2-8 illustrates the principa...

Question 6

FIGURE 2-1 
-In Figure 2-1 above, "B" represents the

Accepted Answer

A)  functional-level strategy level.
B)  board of directors.
C)  corporate-level strategy level.
D)  departments.
E)  business-unit strategy level.F) B) and C)
G) A) and B)

Question 7

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Homemade ice cream that help it identify the critical strategy-related factors that could have major effects on it.

Accepted Answer

The four factors in a SWOT analysis incl...

Question 8

SBUs found in quadrant "D" (Figure 2-6 above)  would be called

Accepted Answer

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

Question 9

Profit refers to

Accepted Answer

A)  the point at which company assets equal company liabilities.
B)  the money left over after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings.
C)  the difference in initial and final selling price of a good or service, provided the figure is positive.
D)  the money earned when the economic order quantity is maintained.
E)  the total amount of revenue accrued through product sales or service distribution.F) A) and B)
G) A) and C)

Question 10

After examining a planning gap, firms typically attempt to

Accepted Answer

A)  decide if the time horizon should be increased or decreased.
B)  perform a SWOT analysis with their major competitor as the focus.
C)  use statistical trend analysis to interpret the results.
D)  exploit a positive deviation and correct a negative deviation.
E)  adopt a product-market focus.F) A) and B)
G) All of the above

Question 11

Market penetration 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) C) and D)
G) B) and E)

Question 12

Marketing dashboard refers to

Accepted Answer

A)  a corporate "report card" prepared by the U.S.government agencies regarding company performance in terms of environmental responsibility, social responsibility, and professional ethics.
B)  the visual computer display on a single computer screen of the essential information related to achieving a marketing objective.
C)  a cleverly designed industry website made to resemble cars in a race with the leader representing the highest level of market share and other cars tailing behind in appropriate order.
D)  a set of written plans indicating the specific direction in which a company wishes to grow.
E)  an interactive screensaver used by corporations to keep employees abreast of important company information that changes on a daily basis.F) A) and C)
G) None of the above

Question 13

In simple terms, the types of question that would be addressed through organizational foundation, organizational direction, and organizational strategies respectively, would be

Accepted Answer

A)  why, when, where.
B)  what, by whom, how.
C)  why, what, how.
D)  how, when, where.
E)  who, why, when.F) A) and E)
G) A) and B)

Question 14

Often used interchangeably with "vision" a(n)  __________ statement frequently has an inspirational theme.

Accepted Answer

A)  point of difference
B)  mission
C)  business map
D)  internal situation analysis
E)  CEO's manualF) D) and E)
G) B) and E)

Question 15

The strategic business unit level

Accepted Answer

A)  works most directly with the targeted customers.
B)  directs the overall strategy for the organization.
C)  is most likely to change substantially over time.
D)  provides more end-user analysis in order to design more customer directed products.
E)  is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.F) B) and C)
G) B) and D)

Question 16

Specialized functions such as marketing and finance are generally referred to as

Accepted Answer

A)  teams.
B)  groups.
C)  partnerships.
D)  departments.
E)  functional areas.F) A) and B)
G) A) and E)

Question 17

There are two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources.These include __________ and __________ analysis strategies.

Accepted Answer

A)  business portfolio; diversification
B)  micromarketing; macromarketing
C)  investment; divestment
D)  dashboards; micromanagement
E)  subjective; objectiveF) B) and C)
G) C) and E)

Question 18

The ultimate goal of a SWOT analysis is to identify the critical strategy-related factors that impact the firm and then build on vital strengths, correct glaring weaknesses, and exploit opportunities, and

Accepted Answer

A)  identify competitors who are failing.
B)  avoid disaster-laden threats.
C)  search out governmental resources and financial aid.
D)  diversify investment outside the firm's marketing areas.
E)  develop new products for new market segments.F) B) and D)
G) B) and C)

Question 19

By understanding its core values, an organization can take steps to define its _________, a declaration of the organization's functions in society, often identifying its customers, markets, products, and technologies.

Accepted Answer

A)  benefit statement
B)  business portfolio
C)  functional philosophy
D)  mission statement
E)  corporate codeF) A) and B)
G) None of the above

Question 20

In keeping with its mission, Ben & Jerry's

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)  committed to buying its milk and cream from one dairy cooperative whose members guarantee the supplies are bovine growth-hormone free.
E)  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.F) B) and C)
G) A) and B)

Exam 2: Developing Successful Marketing and Organizational Strategies

There are two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources.These include __________ and __________ analysis strategies.

Correct AnswerverifiedShow Answer

The strategic business unit level

Correct AnswerverifiedShow Answer

What are the marketing mix elements that compose a cohesive marketing program?

Correct AnswerverifiedText Figure 2-8 illustrates the principa...View AnswerShow Answer

The ultimate goal of a SWOT analysis is to identify the critical strategy-related factors that impact the firm and then build on vital strengths, correct glaring weaknesses, and exploit opportunities, and

Correct AnswerverifiedShow Answer

Often used interchangeably with "vision" a(n) __________ statement frequently has an inspirational theme.

Correct AnswerverifiedShow Answer

Marketing plan refers to

Correct AnswerverifiedShow Answer

FIGURE 2-1 -In Figure 2-1 above, "B" represents the

Correct AnswerverifiedShow Answer

Specialized functions such as marketing and finance are generally referred to as

Correct AnswerverifiedShow Answer

SBUs found in quadrant "D" (Figure 2-6 above) would be called

Correct AnswerverifiedShow Answer

The organizational foundation sets the " __________ "of organizations and organizational direction sets the " __________."

Correct AnswerverifiedShow Answer

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Homemade ice cream that help it identify the critical strategy-related factors that could have major effects on it.

Correct AnswerverifiedThe four factors in a SWOT analysis incl...View AnswerShow Answer

Market penetration refers to the strategy of

Correct AnswerverifiedShow Answer

In keeping with its mission, Ben & Jerry's

Correct AnswerverifiedShow Answer

After examining a planning gap, firms typically attempt to

Correct AnswerverifiedShow Answer

By understanding its core values, an organization can take steps to define its _________, a declaration of the organization's functions in society, often identifying its customers, markets, products, and technologies.

Correct AnswerverifiedShow Answer

Profit refers to

Correct AnswerverifiedShow Answer

Based on the information in Figure 2-9 above, between 2003 and 2012 the planning gap

Correct AnswerverifiedShow Answer

Marketing dashboard refers to

Correct AnswerverifiedShow Answer

In simple terms, the types of question that would be addressed through organizational foundation, organizational direction, and organizational strategies respectively, would be

Correct AnswerverifiedShow Answer

Marketing goal setting involves setting measurable __________ to be achieved, possibly for a specific market, a specific product or brand, or an entire marketing program.

Correct AnswerverifiedShow Answer

There are two commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources.These include and analysis strategies.

Correct Answer
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Text Figure 2-8 illustrates the principa...
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The organizational foundation sets the " "of organizations and organizational direction sets the " ."

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The four factors in a SWOT analysis incl...
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