Question 1

Compared to marketing strategies, marketing tactics generally involve actions that

Accepted Answer

A)  are detailed day-to-day operational decisions.
B)  are long-term rather than short-term.
C)  involve upper levels of management rather than front-line managers.
D)  are general rather than specific in nature.
E)  have been successfully implemented in the past.F) B) and D)
G) All of the above

Question 2

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Accepted Answer

A)  business firm
B)  subchapter S corporation
C)  government agency
D)  cooperative
E)  nonprofit organizationF) A) and E)
G) A) and C)

Question 3

Ben & Jerry's uses two marketing metrics to assess how it is doing in the super premium ice cream market, dollar __________ and dollar market share.

Accepted Answer

A)  profit
B)  ROI
C)  sales
D)  customer satisfaction
E)  survivalF) A) and E)
G) A) and B)

Question 4

Which of the following statements regarding Ben & Jerry's is most accurate?

Accepted Answer

A)  Ben & Jerry's is owned by Unilever, the market leader in the global ice cream industry.
B)  Ben & Jerry's is a privately owned ice cream producer.
C)  Ben & Jerry's prides itself on offering more ice cream flavors than its competitors.
D)  Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry cartoon characters in order to capitalize on childhood nostalgia.
E)  Ben & Jerry's has only been in business for 20 years and is already the industry leader in premium ice cream.F) B) and C)
G) A) and C)

Question 5

Apple launched the iPhone in 2007, and unit sales reached an astonishing 47.7 percent market share in the smartphone industry by 2015. The global smartphone market is expected to grow at an annual rate of 9.8 percent through 2018 due to the growth in China and other markets. Currently, Apple's iPhone SBU appears to be a

Accepted Answer

A)  question mark.
B)  star.
C)  hedgehog.
D)  cash cow.
E)  dog.F) A) and C)
G) None of the above

Question 6

The key to all scheduling techniques is to

Accepted Answer

A)  avoid scheduling tasks that can be done concurrently.
B)  avoid tasks that must be done sequentially.
C)  make sure to allow a 20 percent delay factor to account for contingencies.
D)  assign responsibility for end results to the entire group rather than a single individual.
E)  distinguish tasks that must be done sequentially from those that can be done concurrently.F) B) and E)
G) A) and B)

Question 7

Ben & Jerry's is an ice cream producer owned by Unilever. If the firm identified that its managers lacked the expertise to create additional growth for the firm's products, a marketing manager would likely incorporate this knowledge into its SWOT analysis as

Accepted Answer

A)  a weakness if the company has a strong working relationships with Unilever.
B)  an opportunity if the company shares this information directly with its competitors.
C)  a weakness if the company does not seek to gain that additional expertise.
D)  a threat if Ben & Jerry's does not have resources to develop additional expertise.
E)  part of a marketing plan; this information would not be part of a SWOT analysis.F) A) and D)
G) A) and E)

Question 8

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix. Describe this tool and the four quadrants of the matrix.

Accepted Answer

The BCG business portfolio analysis requ...

Question 9

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Accepted Answer

A)  divert funds to other SBUs.
B)  reduce advertising for it.
C)  inject cash into it.
D)  reduce the feature set for it.
E)  decrease the market growth rate.F) A) and B)
G) A) and C)

Question 10

A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits (consisting of food bars, a water filtration system, first aid supplies, etc.) . Before going ahead with this decision, several factors had to be considered: (1)  The firm has a great reputation with its flashlights and does not want to ruin it. (2)  Its physical plant could be refitted relatively easily to make small generators, but it would be rather costly. (3)  It would have to rely on another firm to manufacture and package the survival kits. (4)  Although there are nine named hurricanes forecasted for the upcoming year, no one really can predict what will happen. The projected number of hurricanes would fall in which quadrant(s)  of the SWOT analysis grid?

Accepted Answer

A)  internal-favorable
B)  internal-unfavorable
C)  external-favorable
D)  external-unfavorable
E)  both external-favorable and external-unfavorableF) D) and E)
G) A) and B)

Question 11

Which two marketing 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 12

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Accepted Answer

A)  do a profitability analysis.
B)  take necessary corrective actions.
C)  bring these to the marketing auditor.
D)  proceed regardless of deviations from original plans.
E)  compare the results against the goals specified in the marketing plan.F) All of the above
G) None of the above

Question 13

Market segmentation refers to

Accepted Answer

A)  identifying small groups of customers with dissimilar needs.
B)  aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
C)  aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
D)  aggregating different products into more reasonable product groupings to better serve consumers' needs.
E)  those characteristics of a product that make it superior to competitive substitutes.F) B) and D)
G) A) and B)

Question 14

Regarding goals and objectives, which of the following statements would be most accurate?

Accepted Answer

A)  Objectives convert an organization's mission and business into long- and short-term performance targets.
B)  Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
C)  A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are never accomplished during the specified time period.
D)  Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit.
E)  The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based.F) C) and D)
G) B) and E)

Question 15

Step 2 in the planning phase of the strategic marketing process consists of

Accepted Answer

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

Question 16

A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits (consisting of food bars, a water filtration system, first aid supplies, etc.) . Before going ahead with this decision, several factors had to be considered: (1)  The firm has a great reputation with its flashlights and does not want to ruin it. (2)  Its physical plant could be refitted relatively easily to make small generators, but it would be rather costly. (3)  It would have to rely on another firm to manufacture and package the survival kits. (4)  Although there are nine named hurricanes scheduled for the upcoming year, no one really can predict what will happen. The company's need to refit its factory would fall in which quadrant(s)  of the SWOT analysis grid?

Accepted Answer

A)  internal-favorable
B)  internal-unfavorable
C)  external-favorable
D)  external-unfavorable
E)  both internal-unfavorable and external-unfavorableF) A) and B)
G) D) and E)

Question 17

The __________ represent(s)  the "how" element of a visionary organization.

Accepted Answer

A)  organizational tactics
B)  organizational mission
C)  organizational foundation
D)  organizational direction
E)  organizational strategiesF) A) and D)
G) B) and C)

Question 18

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) A) and D)

Question 19

A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in a loss of power. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. Before going ahead with this decision, several factors had to be considered: (1)  The firm has a great reputation with its flashlights and doesn't want to ruin it. (2)  Its physical plant could be refitted relatively easily to make small generators, but it would be rather costly. (3)  It would have to rely on another firm to manufacture and package the survival kits. (4)  Although there are nine named hurricanes scheduled for the upcoming year, no one really can predict what will happen. The need to rely on another company to supply the survival kits would fall in which quadrant(s)  of the SWOT analysis grid?

Accepted Answer

A)  internal-favorable
B)  internal-unfavorable
C)  external-favorable
D)  external-unfavorable
E)  both external-favorable and external-unfavorableF) A) and B)
G) D) and E)

Question 20

Which of the following statements would most likely be heard at the functional level of an organization?

Accepted Answer

A)  "We need to divest our Canadian operations that are performing poorly."
B)  "How large a budget can we allot to the marketing department?"
C)  "We plan to implement a Facebook advertising initiative within 90 days."
D)  "We should hire the most culturally diverse cross-functional team possible in order to generate the best new-product ideas."
E)  "What dividends should we pay stockholders next quarter?"F) D) and E)
G) B) and C)

Exam 2: Developing Successful Organizational and Marketing Strategies

Compared to marketing strategies, marketing tactics generally involve actions that

Correct Answer
verified

Regarding goals and objectives, which of the following statements would be most accurate?

Correct Answer
verified

Ben & Jerry's uses two marketing metrics to assess how it is doing in the super premium ice cream market, dollar __________ and dollar market share.

Correct Answer
verified

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Correct Answer
verified

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Correct Answer
verified

Correct Answer
verified

Which two marketing strategies would be used if a firm were not willing to find new markets?

Correct Answer
verified

Step 2 in the planning phase of the strategic marketing process consists of

Correct Answer
verified

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix. Describe this tool and the four quadrants of the matrix.

Correct Answer
verified
The BCG business portfolio analysis requ...
View Answer

The __________ represent(s) the "how" element of a visionary organization.

Correct Answer
verified

Market segmentation refers to

Correct Answer
verified

Correct Answer
verified

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Correct Answer
verified

Which of the following statements would most likely be heard at the functional level of an organization?

Correct Answer
verified

The key to all scheduling techniques is to

Correct Answer
verified

Points of difference refer to

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Ben & Jerry's is an ice cream producer owned by Unilever. If the firm identified that its managers lacked the expertise to create additional growth for the firm's products, a marketing manager would likely incorporate this knowledge into its SWOT analysis as

Correct Answer
verified

Which of the following statements regarding Ben & Jerry's is most accurate?

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Compared to marketing strategies, marketing tactics generally involve actions that

Correct AnswerverifiedShow Answer

Regarding goals and objectives, which of the following statements would be most accurate?

Correct AnswerverifiedShow Answer

Ben & Jerry's uses two marketing metrics to assess how it is doing in the super premium ice cream market, dollar __________ and dollar market share.

Correct AnswerverifiedShow Answer

Alex has just completed measuring the results of her firm's product performance. Her next step will be to

Correct AnswerverifiedShow Answer

A __________ is a federal, state, county, or city unit that provides a specific service to its constituents.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which two marketing strategies would be used if a firm were not willing to find new markets?

Correct AnswerverifiedShow Answer

Step 2 in the planning phase of the strategic marketing process consists of

Correct AnswerverifiedShow Answer

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix. Describe this tool and the four quadrants of the matrix.

Correct AnswerverifiedThe BCG business portfolio analysis requ...View AnswerShow Answer

The __________ represent(s) the "how" element of a visionary organization.

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Because an organization has limited influence on market growth rate, its main alternative for moving an SBU on the portfolio analysis matrix is to try to change its relative market share. The most likely way for a company to turn a question mark into a star rather than a dog is to

Correct AnswerverifiedShow Answer

Which of the following statements would most likely be heard at the functional level of an organization?

Correct AnswerverifiedShow Answer

The key to all scheduling techniques is to

Correct AnswerverifiedShow Answer

Points of difference refer to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Ben & Jerry's is an ice cream producer owned by Unilever. If the firm identified that its managers lacked the expertise to create additional growth for the firm's products, a marketing manager would likely incorporate this knowledge into its SWOT analysis as

Correct AnswerverifiedShow Answer

Which of the following statements regarding Ben & Jerry's is most accurate?

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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Correct Answer
verified
The BCG business portfolio analysis requ...
View 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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