Question 1

The Boston Consulting Group uses __________ to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.

Accepted Answer

A)  target marketing
B)  synergy analysis
C)  market-product grids
D)  business portfolio analysis
E)  diversification analysis

Question 2

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 3

Recently, St. Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year. The hospital touts universal values to "keep health care human" and employees consistently put patients first, which unites them in a common goal. Hospital President Kathy Young believes that St. Joseph's __________ makes both her employees and patients happier in her hospital.

Accepted Answer

A)  vision
B)  service offerings
C)  organizational culture
D)  pathos
E)  behavioral protocol

Question 4

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Accepted Answer

Theodore Levitt argues that senior manag...

Question 5

Name and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals ...

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; what

Question 7

All of the following retailers are principal or direct competitors to Lands' End except

Accepted Answer

A)  Amazon.com.
B)  Sears.
C)  L. L. Bean.
D)  Target.
E)  Pierre Cardin.

Question 8

Teach for America is an example of

Accepted Answer

A)  an entrepreneurial business firm.
B)  a subchapter S corporation.
C)  a creative nonprofit organization.
D)  a public value agency.
E)  a 501(c) (3)  for-profit organization.

Question 9

The Boston Consulting Group (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. Dogs are SBUs that are classified as having

Accepted Answer

A)  high market growth rates and high relative market shares.
B)  low market growth rates but high relative market shares.
C)  low market growth rates and low relative market shares.
D)  high market growth rates but low relative market shares.
E)  medium market growth rates and medium relative market shares.

Question 10

A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers is referred to as a

Accepted Answer

A)  strategic business unit.
B)  strategic industry level.
C)  private corporation.
D)  product grouping.
E)  marketing department.

Question 11

Owners of a specialist olive oil production firm decided to offer their product in 5-ounce and 13-ounce sizes. They decided to sell the olive oil only through the mail and to price the smaller bottle at $6.50 and the larger bottle at $12.00. These actions consist of the firm's marketing

Accepted Answer

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

Question 12

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a __________ strategy.

Accepted Answer

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

Question 13

An organization's foundation includes which of the following?

Accepted Answer

A)  core values
B)  business definition
C)  goals
D)  strategic levels
E)  offerings

Question 14

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

Accepted Answer

Large organizations are extremely comple...

Question 15

Which of the following statements regarding a marketing dashboard is most accurate?

Accepted Answer

A)  The more text (words)  that is displayed, the better it is for a marketing manager to identify trends, interpret the data, and take corrective actions.
B)  A marketing dashboard very often includes 20 or more marketing metrics on the computer screen.
C)  Marketing dashboards provide graphic displays of a product's performance, such as sales, website traffic, etc.
D)  For accuracy, the marketing dashboard should be updated weekly.
E)  Marketing dashboards often show key measures such as human resource turnover, strategy success, and societal well-being.

Question 16

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Accepted Answer

A)  Business firms operate with larger budgets than nonprofits.
B)  Nonprofit organizations do not carry on economic activities while business firms do.
C)  Nonprofit organizations are concerned with social issues and business firms are not.
D)  Both serve customers, but business firms seek a profit while nonprofit organizations do not.
E)  Nonprofit organizations are publicly owned and business firms are privately owned.

Question 17

The goal of a SWOT analysis is to

Accepted Answer

A)  identify market research questions in order to develop new products for new market segments.
B)  determine how raises, bonuses, and dividends will be paid.
C)  reorganize the firm's marketing department.
D)  identify the critical strategy-related factors that can impact the firm.
E)  fairly allocate governmental resources and financial aid across the industry.

Question 18

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

Accepted Answer

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

Question 19

Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping. Its stores are in free-standing locations (not inside the mall)  so customers can get in and out quickly. Additionally, Men's Wearhouse targets the budget-conscious consumer with suit prices ranging from $150 to $850. The location of its stores and its pricing strategy both are part of Men's Wearhouse's

Accepted Answer

A)  competitive advantage.
B)  core values.
C)  core benefit proposition.
D)  marketing edge.
E)  viable mission.

Question 20

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Accepted Answer

A)  chief executive officer.
B)  corporate marketing official.
C)  coordinating marketing officer.
D)  chief marketing officer.
E)  corporate marketing executive.

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements regarding a marketing dashboard is most accurate?

Correct Answer
verified

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

Correct Answer
verified

All of the following retailers are principal or direct competitors to Lands' End except

Correct Answer
verified

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

The Boston Consulting Group uses __________ to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.

Correct Answer
verified

The goal of a SWOT analysis is to

Correct Answer
verified

An organization's foundation includes which of the following?

Correct Answer
verified

The American railroad industry faced a serious decline in the 20^th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct Answer
verified
Theodore Levitt argues that senior manag...
View Answer

The Boston Consulting Group (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. Dogs are SBUs that are classified as having

Correct Answer
verified

Correct Answer
verified

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct Answer
verified

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a __________ strategy.

Correct Answer
verified

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

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

A marketing strategy refers to

Correct Answer
verified

A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers is referred to as a

Correct Answer
verified

Owners of a specialist olive oil production firm decided to offer their product in 5-ounce and 13-ounce sizes. They decided to sell the olive oil only through the mail and to price the smaller bottle at $6.50 and the larger bottle at $12.00. These actions consist of the firm's marketing

Correct Answer
verified

Teach for America is an example of

Correct Answer
verified

Name and briefly describe the seven types of organizational goals or objectives.

Correct Answer
verified
The seven types of organizational goals ...
View Answer

Exam 2: Developing Successful Organizational and Marketing Strategies

Which of the following statements regarding a marketing dashboard is most accurate?

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

All of the following retailers are principal or direct competitors to Lands' End except

Correct AnswerverifiedShow Answer

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Boston Consulting Group uses __________ to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments.

Correct AnswerverifiedShow Answer

The goal of a SWOT analysis is to

Correct AnswerverifiedShow Answer

An organization's foundation includes which of the following?

Correct AnswerverifiedShow Answer

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct AnswerverifiedTheodore Levitt argues that senior manag...View AnswerShow Answer

The Boston Consulting Group (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. Dogs are SBUs that are classified as having

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which statement best describes the most significant difference between a for-profit organization or a business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

If sales revenues for Starbucks VIA Ready Brew instant coffee sold to U.S. consumers increased as a result of a slight price increase of $0.25 per pack, it would be using a __________ strategy.

Correct AnswerverifiedShow Answer

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

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

A marketing strategy refers to

Correct AnswerverifiedShow Answer

A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers is referred to as a

Correct AnswerverifiedShow Answer

Owners of a specialist olive oil production firm decided to offer their product in 5-ounce and 13-ounce sizes. They decided to sell the olive oil only through the mail and to price the smaller bottle at $6.50 and the larger bottle at $12.00. These actions consist of the firm's marketing

Correct AnswerverifiedShow Answer

Teach for America is an example of

Correct AnswerverifiedShow Answer

Name and briefly describe the seven types of organizational goals or objectives.

Correct AnswerverifiedThe seven types of organizational goals ...View AnswerShow Answer

Correct Answer
verified

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

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 American railroad industry faced a serious decline in the 20^th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

Correct Answer
verified
Theodore Levitt argues that senior manag...
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
The seven types of organizational goals ...
View Answer