Question 1

SBUs with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as __________.

Accepted Answer

A)  dogs
B)  cash cows
C)  question marks
D)  stars
E)  hedgehogsF) All of the above
G) B) and E)

Question 2

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 principal focus.
C)  use statistical linear trend analysis to interpret the results.
D)  exploit a positive deviation or correct a negative deviation.
E)  adopt a market-product grid to analyze the sales results.F) A) and B)
G) All of the above

Question 3

All of the following are examples of stakeholders EXCEPT:

Accepted Answer

A)  government.
B)  competitors.
C)  shareholders.
D)  suppliers.
E)  customer.F) A) and D)
G) B) and C)

Question 4

At the functional level,the organization's strategic direction becomes

Accepted Answer

A)  much more manageable since its offerings have been finalized.
B)  the most specific and most focused in terms of implementing the company's goals.
C)  broader since for less complex firms,the corporate and functional levels may merge.
D)  more general to avoid the "not invented here syndrome" that could result in missed opportunities.
E)  the sole responsibility of the CEO.F) A) and D)
G) B) and C)

Question 5

What is a mission?

Accepted Answer

By understanding its core values,an orga...

Question 6

The organizational foundation sets the "__________" of organizations; the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Accepted Answer

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

Question 7

Which of the strategies for expanding sales revenue below presents the most risk for an organization?

Accepted Answer

A)  product development
B)  product-market evolution
C)  market development
D)  market penetration
E)  diversificationF) B) and D)
G) A) and C)

Question 8

The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) develop schedules; and (4) execute the marketing program.

Accepted Answer

A)  obtain resources
B)  select target markets
C)  position the product
D)  find points of difference
E)  develop the budget by estimating revenues,expenses,and profitsF) B) and C)
G) A) and E)

Question 9

Market share refers to

Accepted Answer

A)  the ratio of the profit of the firm to the total profits of all firms in the industry,excluding the firm itself.
B)  the ratio of the profit of the firm to the total profits of all firms in the industry,including the firm itself.
C)  the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,excluding the firm itself.
D)  the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry,including the firm itself.
E)  the ratio of the profits of all firms in an industry to the profits of the firm.F) B) and E)
G) C) and D)

Question 10

A firm's __________ are timeless,capturing its heart and soul,and serve to inspire and motivate its stakeholders.

Accepted Answer

A)  core values
B)  strategic goals
C)  offerings
D)  corporate culture
E)  corporate ethosF) B) and E)
G) A) and B)

Question 11

Organizational culture refers to

Accepted Answer

A)  the personal moral and ethical codes of ethics of its top management.
B)  a written mission statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)  the fundamental,passionate,and enduring principles that guide its conduct over time.
D)  the ethos of an organization including the core values of its management.
E)  a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.F) C) and E)
G) B) and C)

Question 12

The __________ for Lucent Technologies is "To use our unique capabilities to ensure that our customers thrive,our business grows,and we enrich the personal communications experience for people around the world."

Accepted Answer

A)  sustainability doctrine
B)  core benefit proposition
C)  corporate philosophy
D)  mission statement
E)  code of ethicsF) B) and C)
G) B) and D)

Question 13

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization."Question marks" are located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A)  upper left quadrant
B)  upper right quadrant
C)  center of the four quadrants
D)  lower right quadrant
E)  lower left quadrantF) B) and D)
G) D) and E)

Question 14

An action item list refers to

Accepted Answer

A)  an aid to implement a marketing plan that consists of four columns.
B)  a tool that shows the relationships through time of the various program tasks.
C)  a graphical representation of a program schedule.
D)  a systematic method to itemize the "value" of products and services.
E)  an aid to implementing a business plan and consisting of five columns.F) C) and D)
G) B) and C)

Question 15

The __________ element of the marketing mix includes channels and transportation.

Accepted Answer

A)  product
B)  price
C)  promotion
D)  place
E)  peopleF) D) and E)
G) A) and B)

Question 16

Recently,many organizations have added __________ to their mission statements.

Accepted Answer

A)  a business definition
B)  a social element to reflect what is morally right and worthwhile
C)  an economic element to promote profit maximization
D)  an expanded definition of stakeholders to include its competitors
E)  their level of pricing and product quality.F) None of the above
G) A) and B)

Question 17

Hand in Hand International works to solve which societal problem?

Accepted Answer

A)  It provides new college graduates as teachers in urban and rural public schools in the U.S.
B)  It works to end corneal blindness worldwide by finding cornea donors and creating tissue banks.
C)  It provides education and small business loans to women in impoverished areas so that they can help themselves.
D)  It offers free rehabilitation services for injured U.S.veterans returning from overseas conflict.
E)  It offers tax credits to small businesses that make charitable donations in their communities.F) A) and B)
G) A) and C)

Question 18

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's social mission is to operate the company in a way that actively recognizes the central role that business plays in society by

Accepted Answer

A)  promoting the quality concept through its commitment to making the finest ice cream.
B)  giving its stakeholders the greatest possible input into company marketing decisions.
C)  generating enough revenue to be a completely nonprofit organization.
D)  donating 10% of its net profits to local charitable causes and an additional 5% to support producers that practice sustainable farming.
E)  initiating innovative ways to improve the quality of life locally,nationally and internationally.F) A) and E)
G) None of the above

Question 19

Which of the following statements regarding diversification analysis is most accurate?

Accepted Answer

A)  Companies should only use diversification analysis if they are well-established; new companies that use this process run the risk of trying to do too much too soon.
B)  For any product,there is both a current and a new market and for any market,there is both a current and a new product.
C)  Most companies discover that there is at least one product that is targeted to the wrong market.
D)  Diversification analysis is only effective for consumer products.
E)  Diversification analysis is used to forecast and calculate industry sales for new products.F) A) and D)
G) C) and D)

Question 20

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 B)
G) None of the above

Exam 2: Developing Successful Marketing and Organizational Strategies

All of the following are examples of stakeholders EXCEPT:

Correct AnswerverifiedShow Answer

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's social mission is to operate the company in a way that actively recognizes the central role that business plays in society by

Correct AnswerverifiedShow Answer

Recently,many organizations have added __________ to their mission statements.

Correct AnswerverifiedShow Answer

Which of the strategies for expanding sales revenue below presents the most risk for an organization?

Correct AnswerverifiedShow Answer

The actions taken during the implementation phase of the strategic marketing process include: (1) __________; (2) design the marketing organization; (3) develop schedules; and (4) execute the marketing program.

Correct AnswerverifiedShow Answer

Which of the following statements regarding diversification analysis is most accurate?

Correct AnswerverifiedShow Answer

An action item list refers to

Correct AnswerverifiedShow Answer

A firm's __________ are timeless,capturing its heart and soul,and serve to inspire and motivate its stakeholders.

Correct AnswerverifiedShow Answer

The organizational foundation sets the "__________" of organizations; the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Correct AnswerverifiedShow Answer

Hand in Hand International works to solve which societal problem?

Correct AnswerverifiedShow Answer

At the functional level,the organization's strategic direction becomes

Correct AnswerverifiedShow Answer

After examining a planning gap,firms typically attempt to

Correct AnswerverifiedShow Answer

SBUs with a high share of high-growth markets that may not generate enough cash to support their own demanding needs for future growth are referred to as __________.

Correct AnswerverifiedShow Answer

Market share refers to

Correct AnswerverifiedShow Answer

Organizational culture refers to

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The __________ element of the marketing mix includes channels and transportation.

Correct AnswerverifiedShow Answer

Market development refers to the marketing strategy of

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What is a mission?

Correct AnswerverifiedBy understanding its core values,an orga...View AnswerShow Answer

The BCG has given specific names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the organization."Question marks" are located in which quadrant of the BCG growth-share matrix?

Correct AnswerverifiedShow Answer

The __________ for Lucent Technologies is "To use our unique capabilities to ensure that our customers thrive,our business grows,and we enrich the personal communications experience for people around the world."

Correct AnswerverifiedShow Answer

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The organizational foundation sets the "" of organizations; the organization direction sets the ";" and organizational strategies are concerned with the "__."

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By understanding its core values,an orga...
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