Question 1

Business firms pursue several different types of goals: profit, sales, market share, and offer the highest _________, as Medtronic does with its implantable medical devices.

Accepted Answer

A)  innovation
B)  quality
C)  service
D)  personal care
E)  warrantyF) None of the above
G) A) and D)

Question 2

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Stars would be classified as having

Accepted Answer

A)  high growth, high market share.
B)  low growth, high market share.
C)  low growth, low market share.
D)  high growth, low market share.
E)  low growth, medium market share.F) A) and B)
G) D) and E)

Question 3

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Accepted Answer

A)  visions.
B)  procedures.
C)  strategies.
D)  objectives.
E)  plans.F) C) and D)
G) B) and D)

Question 4

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Cash cows would be classified as having

Accepted Answer

A)  high growth, high market share.
B)  low growth, high market share.
C)  low growth, low market share.
D)  high growth, low market share.
E)  low growth, medium market share.F) A) and C)
G) C) and E)

Question 5

The Boston Consulting Group (BCG)  business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The vertical axis is

Accepted Answer

A)  the annual rate of growth of the SBU's industry.
B)  the annual rate of growth of the closest competitor.
C)  the annual rate of growth of the new entries into the marketplace.
D)  the market share of the largest competitor.
E)  the market share between the SBU and next largest competitor.F) A) and B)
G) A) and C)

Question 6

__________

Accepted Answer

A)  segmenting the market and selecting target markets.
B)  establishing a business mission and designing measurable goals and objectives.
C)  identifying deviations in the marketing plan and acting on them.
D)  executing the marketing program designed in the planning phase.
E)  obtaining resources and developing schedules.F) A) and E)
G) B) and E)

Question 7

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

Accepted Answer

A)  satisfaction
B)  quality
C)  revenue
D)  societal
E)  employee welfareF) B) and D)
G) A) and E)

Question 8

Points of difference refer to

Accepted Answer

A)  talking points in an advertisement that emphasize product benefits.
B)  actions responsible for the planning gap.
C)  situations where two departments within the same company have opposing views as to how a product should be managed.
D)  unique strengths relative to competitors that provide superior returns, often based on quality, time, cost, or innovation.
E)  benefits obtained through graft, nepotism, or collusion to gain an edge in the marketplace.F) All of the above
G) C) and D)

Question 9

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix (the 4Ps) ?

Accepted Answer

A)  situation analysis
B)  goal setting
C)  marketing program
D)  sales forecasting
E)  market segmentationF) A) and B)
G) None of the above

Question 10

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

Accepted Answer

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

Question 11

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as _________.

Accepted Answer

A)  plans
B)  procedures
C)  strategies
D)  goals
E)  visionsF) B) and E)
G) C) and D)

Question 12

Which of the following statements regarding organizational culture is most accurate?

Accepted Answer

A)  Organizational culture exists only at the corporate level of an organization.
B)  When corporations merge organizational cultures can collide.
C)  Organizational culture is best used only at the functional level for the most effective results.
D)  Organizational culture cannot be learned or taught.
E)  Organizational culture is a statement of the organization's function in society.F) None of the above
G) C) and D)

Question 13

The ultimate goal of a SWOT analysis is to identify __________ strategy-related factors that impact the firm and then build on vital strengths, correct glaring weaknesses, exploit significant opportunities, and avoid disaster-laden threats.

Accepted Answer

A)  essential
B)  required
C)  necessary
D)  critical
E)  indispensableF) B) and E)
G) B) and D)

Question 14

Identify and explain the four market-product strategies represented by each quadrant (A, B, C, and D) shown in the diversification analysis graphic shown above in Figure 2-7 above.

Accepted Answer

The market-product strategies include
(1...

Question 15

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 attract some of the finest minds in the world to its workforce is an example of a(n) :

Accepted Answer

A)  core competency.
B)  human resource strategy.
C)  sustainable advantage.
D)  product development strategy.
E)  synergistic capability.F) A) and B)
G) A) and C)

Question 16

A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals are referred to as a

Accepted Answer

A)  designated team.
B)  strategic business unit.
C)  cross-functional team.
D)  business consortium.
E)  venture unit.F) A) and B)
G) None of the above

Question 17

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as _________.

Accepted Answer

A)  marketing plans
B)  marketing tactics
C)  marketing programs
D)  marketing campaigns
E)  marketing proceduresF) B) and D)
G) A) and B)

Question 18

FIGURE 2-7 
-According to Figure 2-7 above, which two strategies would be used if a firm were not willing to find new markets?

Accepted Answer

A)  product development and market penetration
B)  product development and diversification
C)  market development and product development
D)  market development and market penetration
E)  market development and diversificationF) B) and E)
G) None of the above

Question 19

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 20

Corporate executives and world leaders are increasingly asked to address the issue of _________, a term that refers to meeting present needs "without compromising the ability of future generations to meet their own needs."

Accepted Answer

A)  corporate culture
B)  profit margins
C)  strategic direction
D)  acculturation
E)  sustainable developmentF) B) and E)
G) C) and D)

Exam 2: Developing Successful Marketing and Organizational Strategies

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as _________.

Correct Answer
verified

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

Correct Answer
verified

Points of difference refer to

Correct Answer
verified

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Correct Answer
verified

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as _________.

Correct Answer
verified

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The vertical axis is

Correct Answer
verified

A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals are referred to as a

Correct Answer
verified

Identify and explain the four market-product strategies represented by each quadrant (A, B, C, and D) shown in the diversification analysis graphic shown above in Figure 2-7 above.

Correct Answer
verified
The market-product strategies include
(1...
View Answer

Business firms pursue several different types of goals: profit, sales, market share, and offer the highest _________, as Medtronic does with its implantable medical devices.

Correct Answer
verified

Which of the following statements regarding organizational culture is most accurate?

Correct Answer
verified

The ultimate goal of a SWOT analysis is to identify __________ strategy-related factors that impact the firm and then build on vital strengths, correct glaring weaknesses, exploit significant opportunities, and avoid disaster-laden threats.

Correct Answer
verified

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Cash cows would be classified as having

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

__________

Correct Answer
verified

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Stars would be classified as having

Correct Answer
verified

Corporate executives and world leaders are increasingly asked to address the issue of _________, a term that refers to meeting present needs "without compromising the ability of future generations to meet their own needs."

Correct Answer
verified

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix (the 4Ps) ?

Correct Answer
verified

FIGURE 2-7 -According to Figure 2-7 above, which two strategies would be used if a firm were not willing to find new markets?

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

Exam 2: Developing Successful Marketing and Organizational Strategies

The detailed day-to-day operational decisions essential to the overall success of marketing strategies are referred to as _________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Points of difference refer to

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as _________.

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position of each of its SBUs on a growth-share matrix.The vertical axis is

Correct AnswerverifiedShow Answer

A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals are referred to as a

Correct AnswerverifiedShow Answer

Identify and explain the four market-product strategies represented by each quadrant (A, B, C, and D) shown in the diversification analysis graphic shown above in Figure 2-7 above.

Correct AnswerverifiedThe market-product strategies include(1...View AnswerShow Answer

Business firms pursue several different types of goals: profit, sales, market share, and offer the highest _________, as Medtronic does with its implantable medical devices.

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational culture is most accurate?

Correct AnswerverifiedShow Answer

The ultimate goal of a SWOT analysis is to identify __________ strategy-related factors that impact the firm and then build on vital strengths, correct glaring weaknesses, exploit significant opportunities, and avoid disaster-laden threats.

Correct AnswerverifiedShow Answer

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Cash cows would be classified as having

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

__________

Correct AnswerverifiedShow Answer

Placing products in the BCG matrix results in 4 categories in a portfolio of a company.Stars would be classified as having

Correct AnswerverifiedShow Answer

Corporate executives and world leaders are increasingly asked to address the issue of _________, a term that refers to meeting present needs "without compromising the ability of future generations to meet their own needs."

Correct AnswerverifiedShow Answer

At which step of the planning stage of the strategic marketing process does a firm develop its marketing mix (the 4Ps) ?

Correct AnswerverifiedShow Answer

FIGURE 2-7 -According to Figure 2-7 above, which two strategies would be used if a firm were not willing to find new markets?

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The market-product strategies include
(1...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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