Question 1

Figure 2-5
 
-Taco Bell sells Doritos Locos Tacos in the U.S. ,with shells made out of Nacho Cheese Doritos.At introduction,the chain sold 100 million tacos in the first 10 weeks alone,its most popular product launch of all time.Considering Figure 2-5 above,this is an example of a ________ strategy that would be found in quadrant ________.

Accepted Answer

A)  market penetration;A
B)  product development;B
C)  Diversification;D
D)  market development;C
E)  product-market expansion;DF) B) and C)
G) A) and E)

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

The third and final phase of the strategic marketing process is the

Accepted Answer

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

Question 4

Step 3 in the planning phase of the strategic marketing process consists of

Accepted Answer

A)  diversification analysis.
B)  the situation (SWOT) analysis.
C)  the marketing program.
D)  the market-product focus and goal setting.
E)  business portfolio analysis.F) A) and E)
G) C) and D)

Question 5

Data visualization

Accepted Answer

A)  is the visual computer display of the essential information related to achieving a marketing objective.
B)  is a road map for the marketing activities of an organization for a specified future time period.
C)  is the process of continuously collecting information about customers' needs,sharing this information across departments,and using it to create marketing metrics.
D)  is a measure of the quantitative value or trend of a marketing activity or result.
E)  presents information about an organization's marketing metrics graphically so marketers can quickly spot deviations from plans and take corrective actions.F) C) and E)
G) D) and E)

Question 6

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) A) and D)
G) D) and E)

Question 7

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals.Due to the resources it makes available to its scientists and researchers,the company has a number of Nobel Prize winners working in its laboratories.This ability to employ some of the finest minds in the world is an example of a

Accepted Answer

A)  point of similarity.
B)  competency.
C)  sustainable advantage.
D)  product development strategy.
E)  human resource strategy.F) None of the above
G) A) and B)

Question 8

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Accepted Answer

A SWOT analysis is an acronym that descr...

Question 9

A firm may have a goal to offer its customers the highest ________,as Medtronic does with its implantable medical devices that meet its customers' critical performance expectations.

Accepted Answer

A)  innovation
B)  quality
C)  service
D)  value
E)  warrantyF) A) and D)
G) B) and C)

Question 10

Successful organizations must be visionary,which includes the ability to

Accepted Answer

A)  develop strategies based on those that were successful in the past.
B)  be backward-looking,examining the past carefully 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 stakeholders of the organization when defining its business mission.F) A) and B)
G) A) and C)

Question 11

The two major aspects of the evaluation phase of the strategic marketing process are

Accepted Answer

A)  segmenting the market and selecting target markets.
B)  establishing a business mission and designing measurable goals and objectives.
C)  designing the marketing mix and setting the budget.
D)  comparing the results of the marketing program with the goals to identify deviations and acting on them.
E)  executing the marketing plan and designing the marketing organization.F) A) and E)
G) A) and C)

Question 12

The term marketing strategy is typically addresses both the ________ and the ________.

Accepted Answer

A)  product groupings;target markets
B)  target market;marketing program
C)  subjective;objective goals
D)  revenues generated;market share achieved
E)  feasibility;time required to implementF) None of the above
G) A) and E)

Question 13

An example of a nonprofit organization is

Accepted Answer

A)  the Food and Drug Administration.
B)  CVS Pharmacies.
C)  the medical technology company Medtronic,Inc.
D)  the pharmaceutical company Pfizer,Inc.
E)  the American Red Cross.F) A) and D)
G) C) and D)

Question 14

The key role of marketing includes

Accepted Answer

A)  supporting the board of directors.
B)  operating at the corporate level.
C)  looking outward by listening to customers.
D)  managing executives.
E)  delivering strategic business decisions.F) B) and E)
G) C) and D)

Question 15

Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping.Its stores are in free-standing locations (not inside the mall) so customers can get in and out quickly.Additionally,Men's Wearhouse targets the budget-conscious consumer with suit prices ranging from $150 to $850.The location of its stores and its pricing strategy both are part of Men's Wearhouse's

Accepted Answer

A)  competitive advantage.
B)  core values.
C)  core benefit proposition.
D)  marketing edge.
E)  viable mission.F) B) and D)
G) None of the above

Question 16

The strategies an organization develops to provide value to the customers it serves is called

Accepted Answer

A)  a mission statement.
B)  an objective goal.
C)  a vision statement.
D)  a business model.
E)  a protocol.F) C) and D)
G) B) and E)

Question 17

In the 1980s,a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy.The company's share of the U.S.super heavyweight market segment-motorcycles with engine capacity of 850 cubic centimeters or more-had shrunk from over 40 percent in the mid-1970s to 23 percent in 1983.But by 1989,Harley-Davidson controlled some 65 percent of this market segment.From a marketing perspective,what was the most likely first step in Harley-Davidson's resurgence?

Accepted Answer

A)  Developing a new mission statement
B)  Repositioning its products in the minds of super heavyweight motorcycle buyers
C)  Performing a SWOT analysis to assess the firm's internal and external environments
D)  Selling new models of super heavyweight motorcycles in both the United States (current) and foreign (new) markets
E)  Improving the quality of its products and communicating this to motorcycle buyersF) A) and D)
G) B) and E)

Question 18

Howard Schultz,the founder of the American coffee chain Starbucks,provides health care for all employees who work over 20 hours per week.He says,"The companies that are doing the right thing by covering their employees [with health care coverage] are paying for the companies who don't do the right thing." This is an example of one of Starbucks' ________ goals.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  salesF) None of the above
G) B) and E)

Question 19

Which of the following is one of the key elements of a visionary organization?

Accepted Answer

A)  Set financial goals
B)  Specify its foundation
C)  Establish detailed marketing tactics
D)  Assign job responsibilities
E)  Establish an organizational chartF) All of the above
G) B) and E)

Question 20

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) B) and D)
G) B) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Data visualization

Correct Answer
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Step 3 in the planning phase of the strategic marketing process consists of

Correct Answer
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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

The term marketing strategy is typically addresses both the and the .

Correct Answer
verified

Correct Answer
verified

Which of the following is one of the key elements of a visionary organization?

Correct Answer
verified

Correct Answer
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The third and final phase of the strategic marketing process is the

Correct Answer
verified

Successful organizations must be visionary,which includes the ability to

Correct Answer
verified

Correct Answer
verified

The strategies an organization develops to provide value to the customers it serves is called

Correct Answer
verified

The key role of marketing includes

Correct Answer
verified

An example of a nonprofit organization is

Correct Answer
verified

The two major aspects of the evaluation phase of the strategic marketing process are

Correct Answer
verified

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

A firm may have a goal to offer its customers the highest ________,as Medtronic does with its implantable medical devices that meet its customers' critical performance expectations.

Correct Answer
verified

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Correct Answer
verified
A SWOT analysis is an acronym that descr...
View 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 Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Data visualization

Correct AnswerverifiedShow Answer

Step 3 in the planning phase of the strategic marketing process consists of

Correct AnswerverifiedShow Answer

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

The term marketing strategy is typically addresses both the ________ and the ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is one of the key elements of a visionary organization?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The third and final phase of the strategic marketing process is the

Correct AnswerverifiedShow Answer

Successful organizations must be visionary,which includes the ability to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The strategies an organization develops to provide value to the customers it serves is called

Correct AnswerverifiedShow Answer

The key role of marketing includes

Correct AnswerverifiedShow Answer

An example of a nonprofit organization is

Correct AnswerverifiedShow Answer

The two major aspects of the evaluation phase of the strategic marketing process are

Correct AnswerverifiedShow Answer

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

A firm may have a goal to offer its customers the highest ________,as Medtronic does with its implantable medical devices that meet its customers' critical performance expectations.

Correct AnswerverifiedShow Answer

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Correct AnswerverifiedA SWOT analysis is an acronym that descr...View AnswerShow 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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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

The term marketing strategy is typically addresses both the and the .

Correct Answer
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Correct Answer
verified

Correct Answer
verified

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
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
A SWOT analysis is an acronym that descr...
View Answer

Correct Answer
verified