Question 1

A marketing strategy refers to

Accepted Answer

A)   the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.
B)   the tactical decisions made to implement the marketing program.
C)   a technique to quantify performance measures and growth targets of a firm's strategic business units (SBUs) .
D)   a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
E)   the detailed day-to-day operational decisions.

Question 2

A nonprofit organization is

Accepted Answer

A)   a nongovernmental organization that serves its customers but does not have making money as an organizational goal.
B)   a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C)   a publicly owned organization that serves the general population.
D)   a group of people united through contractual or corporate ownership.
E)   a privately owned organization that serves its customers to earn a profit so that it can survive.

Question 3

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck, the Amarok, hoping it would be a clever way to get people to engage. This action is an example of Volkswagen's marketing

Accepted Answer

A)   tactics.
B)   missions.
C)   visions.
D)   strategies.
E)   customer values.

Question 4

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.

Question 5

If sales revenues for Starbucks VIA Instant coffee sold to U.S. consumers increased as a result of a new ad campaign, it would be using a ________ strategy.

Accepted Answer

A)   product development
B)   market development
C)   market penetration
D)   diversification
E)   market saturation

Question 6

The ________ element of the marketing mix includes features and packaging.

Accepted Answer

A)   product
B)   price
C)   promotion
D)   place
E)   people

Question 7

All of the following are components of the implementation phase of the strategic marketing process except which?

Accepted Answer

A)   Defining precise tasks, responsibilities, and deadlines
B)   Executing the marketing program
C)   Designing the marketing organization
D)   Conducting R and D
E)   Obtaining resources

Question 8

What is an organization's mission? What are some elements of a well-written mission statement?

Accepted Answer

By understanding its core values, an org...

Question 9

Figure 2-5
-LEGO has traditionally been successful selling its classic construction sets to boys. Recently, LEGO introduced a line of building toys especially for girls called LEGO Friends. Although based on the same construction bricks and detailed instructions, the line included female characters, pink and purple theme colors, and allowed girls to construct more story-related pieces. Considering Figure 2-5 above, this is an example of a ________ strategy that would be found in quadrant ________.

Accepted Answer

A)   diversification; D
B)   market penetration; A
C)   product development; B
D)   market development; C
E)   Product-market evolution; D

Question 10

Most firms have a goal to maximize their ________, achieving as high a financial return on investments as possible.

Accepted Answer

A)   quality
B)   market share
C)   employee welfare
D)   social responsibility
E)   profits

Question 11

Among the seven ________ at IKEA are humbleness and willpower, leadership by example, daring to be different, and togetherness and enthusiasm.

Accepted Answer

A)   sustainability doctrines
B)   goals and objectives
C)   core values
D)   moral imperatives
E)   functional strategies

Question 12

Organizational strategies vary in two ways, depending on

Accepted Answer

A)   the strategy's level in the organization and the offerings it provides to its customers.
B)   the corporate level and the SBU level in the organization.
C)   whether an offering is a tangible good or a service.
D)   whether management plans to develop mission statements or core values.
E)   the organizational culture and its core values.

Question 13

Those characteristics of a product that make it superior to competitive substitutes are

Accepted Answer

A)   core benefit propositions.
B)   marketing mix elements.
C)   points of difference.
D)   marketing attributes.
E)   product protocols.

Question 14

The difference between the projection of the path to reach a new sales revenue goal and the projection of the path of the results of a plan already in place is the

Accepted Answer

A)   planning gap.
B)   contribution margin.
C)   point of difference.
D)   break-even point.
E)   sales response function.

Question 15

Lands' End, an American apparel and outerwear firm, ships each order within 48 hours and its guarantee is said to be the best in the world, as exemplified by its tagline "Guaranteed Period." These marketing actions by Lands' End most likely reflect its ________ goals.

Accepted Answer

A)   profit
B)   market share
C)   employee welfare
D)   social responsibility
E)   customer satisfaction

Question 16

Which statement 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.

Question 17

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.

Question 18

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

Accepted Answer

A)   tactics
B)   strategic
C)   planning
D)   implementation
E)   evaluation

Question 19

A mission statement should be all of these except which?

Accepted Answer

A)   Actionable
B)   Inspirational
C)   Long term
D)   Meaningful
E)   Concise

Question 20

Briefly describe the four levels in a hierarchical organizational structure, including the three that are strategic in nature.

Accepted Answer

Large organizations are extremely comple...

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct Answer
verified

A nonprofit organization is

Correct Answer
verified

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck, the Amarok, hoping it would be a clever way to get people to engage. This action is an example of Volkswagen's marketing

Correct Answer
verified

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

Correct Answer
verified

What is an organization's mission? What are some elements of a well-written mission statement?

Correct Answer
verified
By understanding its core values, an org...
View Answer

Organizational strategies vary in two ways, depending on

Correct Answer
verified

The ________ element of the marketing mix includes features and packaging.

Correct Answer
verified

Those characteristics of a product that make it superior to competitive substitutes are

Correct Answer
verified

A marketing strategy refers to

Correct Answer
verified

Briefly describe the four levels in a hierarchical organizational structure, including the three that are strategic in nature.

Correct Answer
verified
Large organizations are extremely comple...
View Answer

Which statement regarding Ben & Jerry's is most accurate?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

All of the following are components of the implementation phase of the strategic marketing process except which?

Correct Answer
verified

A mission statement should be all of these except which?

Correct Answer
verified

Most firms have a goal to maximize their ________, achieving as high a financial return on investments as possible.

Correct Answer
verified

The difference between the projection of the path to reach a new sales revenue goal and the projection of the path of the results of a plan already in place is the

Correct Answer
verified

If sales revenues for Starbucks VIA Instant coffee sold to U.S. consumers increased as a result of a new ad campaign, it would be using a ________ strategy.

Correct Answer
verified

Lands' End, an American apparel and outerwear firm, ships each order within 48 hours and its guarantee is said to be the best in the world, as exemplified by its tagline "Guaranteed Period." These marketing actions by Lands' End most likely reflect its ________ goals.

Correct Answer
verified

Among the seven ________ at IKEA are humbleness and willpower, leadership by example, daring to be different, and togetherness and enthusiasm.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

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

Correct AnswerverifiedShow Answer

A nonprofit organization is

Correct AnswerverifiedShow Answer

Marketers at Volkswagen in Istanbul created a digital flip film out of some 200 photos to tout the prowess of their new truck, the Amarok, hoping it would be a clever way to get people to engage. This action is an example of Volkswagen's marketing

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is an organization's mission? What are some elements of a well-written mission statement?

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

Organizational strategies vary in two ways, depending on

Correct AnswerverifiedShow Answer

The ________ element of the marketing mix includes features and packaging.

Correct AnswerverifiedShow Answer

Those characteristics of a product that make it superior to competitive substitutes are

Correct AnswerverifiedShow Answer

A marketing strategy refers to

Correct AnswerverifiedShow Answer

Briefly describe the four levels in a hierarchical organizational structure, including the three that are strategic in nature.

Correct AnswerverifiedLarge organizations are extremely comple...View AnswerShow Answer

Which statement regarding Ben & Jerry's is most accurate?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following are components of the implementation phase of the strategic marketing process except which?

Correct AnswerverifiedShow Answer

A mission statement should be all of these except which?

Correct AnswerverifiedShow Answer

Most firms have a goal to maximize their ________, achieving as high a financial return on investments as possible.

Correct AnswerverifiedShow Answer

The difference between the projection of the path to reach a new sales revenue goal and the projection of the path of the results of a plan already in place is the

Correct AnswerverifiedShow Answer

If sales revenues for Starbucks VIA Instant coffee sold to U.S. consumers increased as a result of a new ad campaign, it would be using a ________ strategy.

Correct AnswerverifiedShow Answer

Lands' End, an American apparel and outerwear firm, ships each order within 48 hours and its guarantee is said to be the best in the world, as exemplified by its tagline "Guaranteed Period." These marketing actions by Lands' End most likely reflect its ________ goals.

Correct AnswerverifiedShow Answer

Among the seven ________ at IKEA are humbleness and willpower, leadership by example, daring to be different, and togetherness and enthusiasm.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
By understanding its core values, an org...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Large organizations are extremely comple...
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