Question 1

Explain the concept of "linked prosperity" that was embraced by the founders of Ben & Jerry's, and describe how they set out to achieve this.

Accepted Answer

Ben & Jerry's founders embraced a concep...

Question 2

A board of directors of an organization

Accepted Answer

A)  represents the functional level.
B)  oversees the three levels of strategy.
C)  represents the corporate level.
D)  represents the CEO.
E)  represents the strategic business unit level.F) B) and E)
G) C) and E)

Question 3

The specialists within an organization who actually create value are usually a member of the

Accepted Answer

A)  strategic business unit level.
B)  functional level.
C)  corporate level.
D)  board of directors.
E)  CMO.F) B) and E)
G) None of the above

Question 4

Designing a car is expensive and time-consuming even with the use of computers because of the difficulty of getting all the varied departments to work together. Mercedes-Benz created a unique centralized web-based system that cuts the design and production process by at least two years, thus providing customer value. This is an example of

Accepted Answer

A)  a point of similarity.
B)  an innovation-oriented mission.
C)  an action program.
D)  an operational goal implementation.
E)  a competency.F) A) and D)
G) None of the above

Question 5

A mission statement should be all of these except

Accepted Answer

A)  short-term.
B)  inspirational.
C)  clear.
D)  meaningful.
E)  concise.F) B) and C)
G) A) and B)

Question 6

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Accepted Answer

A)  innovation group.
B)  business consortium.
C)  tactical group.
D)  SWOT team.
E)  cross-functional team.F) A) and D)
G) B) and C)

Question 7

Often used interchangeably with the term vision, a __________ frequently has a meaningful theme and a long-term orientation.

Accepted Answer

A)  point of difference
B)  mission statement
C)  business definition
D)  customer value proposition
E)  marketing planF) A) and B)
G) B) and D)

Question 8

All of the following are marketing actions that can be taken as a result of a SWOT analysis except

Accepted Answer

A)  exploit an opportunity.
B)  correct a weakness.
C)  avoid a disaster-laden threat.
D)  build on a strength.
E)  secure the necessary resources (financial, human, technological)  to fund new SBUs.F) All of the above
G) A) and E)

Question 9

Which of the following statements regarding stakeholders is most accurate?

Accepted Answer

A)  Employees are typically not classified as a stakeholder group because they are internal to the organization.
B)  There are only three types of stakeholders: customers, suppliers, and distributors.
C)  All stakeholders are external to the organization.
D)  Stakeholders are a varied group; all are in some way affected by how well a company performs.
E)  Stakeholders are only those that have an ownership stake in an organization.F) D) and E)
G) A) and E)

Question 10

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

The evaluation phase of the st...

Question 11

The new markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Accepted Answer

A)  product development.
B)  market penetration.
C)  market development.
D)  product penetration.
E)  diversification.F) A) and D)
G) C) and E)

Question 12

Market development refers to the marketing strategy of

Accepted Answer

A)  increasing sales of current products in current markets.
B)  selling new products to new markets.
C)  selling new products to current markets.
D)  selling the same brands in both current and new markets.
E)  selling current products to new markets.F) A) and D)
G) A) and C)

Question 13

In the BCG growth-share matrix, SBUs found in the low growth rate-high relative market share quadrant would be called

Accepted Answer

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

Question 14

The external-favorable quadrant represents __________ in a SWOT analysis.

Accepted Answer

A)  a threat
B)  a weakness
C)  a strength
D)  an opportunity
E)  a market segmentF) A) and D)
G) A) and E)

Question 15

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed Period."

Accepted Answer

A)  competitive advantage
B)  core values
C)  core benefit proposition
D)  customers
E)  mission statementF) A) and C)
G) None of the above

Question 16

The marketing strategy of selling new products to current markets is referred to as

Accepted Answer

A)  product penetration.
B)  product development.
C)  market development.
D)  diversification.
E)  market penetration.F) B) and E)
G) B) and D)

Question 17

In terms of an organization's business, railroads lost market share in the 20th century because they

Accepted Answer

A)  had less flexible routes than trucking.
B)  defined their business too narrowly.
C)  tried to create a business that appealed equally to all people.
D)  priced their services too high.
E)  were simply an outmoded form of transportation.F) B) and C)
G) A) and E)

Question 18

Marketing tactics refer to the

Accepted Answer

A)  long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)  steps taken to develop an effective marketing plan.
D)  development of marketing strategies to achieve the organization's marketing objectives.
E)  refinement of the organization's mission based on the results obtained from a marketing audit.F) B) and D)
G) A) and D)

Question 19

Describe the three strategic levels in an organization.

Accepted Answer

The three levels are: (1) the corporate ...

Question 20

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1)  actual results fall short of goals and (2)

Accepted Answer

A)  deviations that result from major shifts in customer needs.
B)  actual results exceed goals.
C)  there are no deviations but there should be.
D)  deviations that result from executive mandates.
E)  deviations that are blamed on insufficient marketing support (personnel or funding) .F) A) and C)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements regarding stakeholders is most accurate?

Correct Answer
verified

Market development refers to the marketing strategy of

Correct Answer
verified

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed Period."

Correct Answer
verified

Explain the steps in the evaluation phase of the strategic marketing process.

Correct Answer
verified
The evaluation phase of the st...
View Answer

All of the following are marketing actions that can be taken as a result of a SWOT analysis except

Correct Answer
verified

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct Answer
verified

Marketing tactics refer to the

Correct Answer
verified

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2)

Correct Answer
verified

Explain the concept of "linked prosperity" that was embraced by the founders of Ben & Jerry's, and describe how they set out to achieve this.

Correct Answer
verified
Ben & Jerry's founders embraced a concep...
View Answer

Correct Answer
verified

The marketing strategy of selling new products to current markets is referred to as

Correct Answer
verified

In terms of an organization's business, railroads lost market share in the 20^th century because they

Correct Answer
verified

A mission statement should be all of these except

Correct Answer
verified

The external-favorable quadrant represents __________ in a SWOT analysis.

Correct Answer
verified

Often used interchangeably with the term vision, a __________ frequently has a meaningful theme and a long-term orientation.

Correct Answer
verified

The specialists within an organization who actually create value are usually a member of the

Correct Answer
verified

A board of directors of an organization

Correct Answer
verified

The new markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Correct Answer
verified

In the BCG growth-share matrix, SBUs found in the low growth rate-high relative market share quadrant would be called

Correct Answer
verified

Describe the three strategic levels in an organization.

Correct Answer
verified
The three levels are: (1) the corporate ...
View Answer

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements regarding stakeholders is most accurate?

Correct AnswerverifiedShow Answer

Market development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed Period."

Correct AnswerverifiedShow Answer

Explain the steps in the evaluation phase of the strategic marketing process.

Correct AnswerverifiedThe evaluation phase of the st...View AnswerShow Answer

All of the following are marketing actions that can be taken as a result of a SWOT analysis except

Correct AnswerverifiedShow Answer

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct AnswerverifiedShow Answer

Marketing tactics refer to the

Correct AnswerverifiedShow Answer

The marketing manager looks for two kinds of deviations, each triggering a different kind of action: (1) actual results fall short of goals and (2)

Correct AnswerverifiedShow Answer

Explain the concept of "linked prosperity" that was embraced by the founders of Ben & Jerry's, and describe how they set out to achieve this.

Correct AnswerverifiedBen & Jerry's founders embraced a concep...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The marketing strategy of selling new products to current markets is referred to as

Correct AnswerverifiedShow Answer

In terms of an organization's business, railroads lost market share in the 20th century because they

Correct AnswerverifiedShow Answer

A mission statement should be all of these except

Correct AnswerverifiedShow Answer

The external-favorable quadrant represents __________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

Often used interchangeably with the term vision, a __________ frequently has a meaningful theme and a long-term orientation.

Correct AnswerverifiedShow Answer

The specialists within an organization who actually create value are usually a member of the

Correct AnswerverifiedShow Answer

A board of directors of an organization

Correct AnswerverifiedShow Answer

The new markets-current products quadrant in a diversification analysis matrix represents the marketing strategy of

Correct AnswerverifiedShow Answer

In the BCG growth-share matrix, SBUs found in the low growth rate-high relative market share quadrant would be called

Correct AnswerverifiedShow Answer

Describe the three strategic levels in an organization.

Correct AnswerverifiedThe three levels are: (1) the corporate ...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The evaluation phase of the st...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Ben & Jerry's founders embraced a concep...
View Answer

Correct Answer
verified

Correct Answer
verified

In terms of an organization's business, railroads lost market share in the 20^th century because they

Correct Answer
verified

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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The three levels are: (1) the corporate ...
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