Question 1

marketing,an organization refers to

Accepted Answer

A)   a legal entity of people who share a common mission.
B)   a group of people united through contractual or corporate ownership.
C)   a legal entity engaged in business activities solely with the intent of making a profit.
D)   a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
E)   a privately owned entity that serves its customers to earn a profit so that it can survive.F) C) and E)
G) None of the above

Question 2

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc.,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Accepted Answer

A)   Buy ads in all the major trade journals aimed at businesses in the entertainment and/or sports industry.
B)   Communicate using direct mail about the various walking surfaces Schofield can create for contractors who are building riding and walking paths.
C)   Design a sample ad and test it using visitors at a trade show.
D)   Hire six new sales representatives for the Midwest regional office and train them on all aspects of concrete surfaces.
E)   Conduct a focus group to decide on which surface to use for a theme park in Brazil.F) A) and B)
G) A) and C)

Question 3

commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Accepted Answer

A)   micromarketing; macromarketing
B)   business portfolio; diversification
C)   investment; divestment
D)   dashboards; metrics
E)   subjective; objectiveF) D) and E)
G) None of the above

Question 4

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 C)
G) A) and B)

Question 5

Figure 2-5
-Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Accepted Answer

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

Question 6

& 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 economic mission is to operate the Company

Accepted Answer

A)   with the goal of generating enough revenue to be a completely nonprofit organization.
B)   on a sustainable financial basis of profitable growth, increasing value for our stakeholders and expanding opportunities for development and career growth for our employees.
C)   with the goal of making profits for selected charitable organizations such as Fair Trade.
D)   with the goal of increasing market share not only in ice cream sales but also in its retail clothing and accessories merchandise lines.
E)   with the goal of expanding into international markets by developing sustainable dairies for developing nations.F) A) and E)
G) B) and D)

Question 7

Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Accepted Answer

A)   market aggregation
B)   market segmentation
C)   product segmentation
D)   product grouping
E)   mass marketingF) B) and E)
G) C) and D)

Question 8

Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units.What are the strengths and weakness of this model?

Accepted Answer

The primary strength of business portfol...

Question 9

of the following are examples of stakeholders EXCEPT:

Accepted Answer

A)   government
B)   competitors
C)   shareholders
D)   suppliers
E)   customerF) B) and C)
G) None of the above

Question 10

Railroad Photo
-railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

Accepted Answer

In his famous "Marketing Myopia" article...

Question 11

Which of the following statements regarding an organization's strategic business unit level is most accurate?

Accepted Answer

A)   The strategic business unit level is the level that works most directly with an organization's targeted customers.
B)   The overall strategy for the organization is directed at the strategic business unit level.
C)   In more complex organizations, the corporate level and the strategic business unit level may merge.
D)   More end-user analysis is provided at the strategic business unit level than at the functional level.
E)   The strategic direction is more specific at the strategic business unit level than at the corporate level.F) A) and C)
G) A) and D)

Question 12

of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Accepted Answer

A)   research the organization's present and prospective customers.
B)   determine what business the organization is in.
C)   assess the organization itself.
D)   identify trends in the organization's industry.
E)   analyze the organization's competitors.F) B) and D)
G) C) and D)

Question 13

of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Accepted Answer

A)   Netflix announced it would split the firm into two divisions, one that focused on delivering DVDs by mail (Quikster)  and the other that streamed them over the Internet (Netflix) .
B)   Netflix delivered movies by mail in VHS cassette format.
C)   Netflix eventually delivered movies over the Internet.
D)   Netflix established a partnership with DirecTV, a satellite television provider, to deliver movies over its network.
E)   Netflix cancelled its plan to separate its business into two divisions as a result of customer backlash and negative media criticism.F) D) and E)
G) A) and B)

Question 14

Figure 2-7
-Quadrant "C" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Accepted Answer

A)   Threat
B)   Weakness
C)   Strength
D)   Opportunity
E)   Market segmentF) A) and E)
G) A) and D)

Question 15

the 20th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

Accepted Answer

A)   transportation
B)   transcontinental shipping
C)   passenger travel
D)   product delivery
E)   air cargoF) A) and D)
G) A) and E)

Question 16

marketing,an offering refers to

Accepted Answer

A)   the formal designation of a publicly-traded stock for a specific product, service or idea.
B)   a thing of value between buyer and seller so that each is better off after an exchange between them.
C)   a product, service, or idea that creates value for both the organization and its customers by satisfying customer needs and wants.
D)   the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers.
E)   the service suppliers and distributors provide to help manufacturers bring a product to market.F) D) and E)
G) A) and D)

Question 17

Figure 2-7
-Quadrant "B" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Accepted Answer

A)   Threat
B)   Weakness
C)   Strength
D)   Opportunity
E)   Market segmentF) C) and D)
G) B) and C)

Question 18

organization's core values are the fundamental,passionate,and enduring principles that guide its conduct over time.To be effective,they must be supported by

Accepted Answer

A)   competitors.
B)   senior management.
C)   suppliers.
D)   resellers.
E)   government regulators.F) A) and B)
G) A) and C)

Question 19

Figure 2-6
-Using Figure 2-6,identify and describe the three steps ("A," "B," and "C")of the planning phase of the strategic marketing process.

Accepted Answer

Cell "A": Situation (SWOT)analysis-is an...

Question 20

Figure 2-5
-Quadrant "A" in Figure 2-5 above represents the marketing strategy of __________.

Accepted Answer

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

Exam 2: Developing Successful Organizational and Marketing Strategies

of the following are examples of stakeholders EXCEPT:

Correct AnswerverifiedShow Answer

commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include __________ and __________ analysis strategies.

Correct AnswerverifiedShow Answer

Which of the following statements regarding an organization's strategic business unit level is most accurate?

Correct AnswerverifiedShow Answer

Figure 2-6 -Using Figure 2-6,identify and describe the three steps ("A," "B," and "C")of the planning phase of the strategic marketing process.

Correct AnswerverifiedCell "A": Situation (SWOT)analysis-is an...View AnswerShow Answer

Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units.What are the strengths and weakness of this model?

Correct AnswerverifiedThe primary strength of business portfol...View AnswerShow Answer

Which of the following statements reflects the key elements in developing a marketing strategy for L.M.Schofield,Inc.,a company that produces specialized concrete surfaces for heavily trafficked areas such as retail outlets and amusement parks?

Correct AnswerverifiedShow Answer

& 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 economic mission is to operate the Company

Correct AnswerverifiedShow Answer

Aggregating prospective buyers into groups that (1) have common needs and (2) will respond similarly to a marketing action is referred to as __________.

Correct AnswerverifiedShow Answer

organization's core values are the fundamental,passionate,and enduring principles that guide its conduct over time.To be effective,they must be supported by

Correct AnswerverifiedShow Answer

Railroad Photo -railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20th century? What business is a railroad firm really in? Why?

Correct AnswerverifiedIn his famous "Marketing Myopia" article...View AnswerShow Answer

the 20th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 2-7 -Quadrant "B" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

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Figure 2-5 -Quadrant "A" in Figure 2-5 above represents the marketing strategy of __________.

Correct AnswerverifiedShow Answer

of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Correct AnswerverifiedShow Answer

of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process EXCEPT:

Correct AnswerverifiedShow Answer

Figure 2-5 -Quadrant "B" in Figure 2-5 above represents the marketing strategy of __________.

Correct AnswerverifiedShow Answer

marketing,an organization refers to

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marketing,an offering refers to

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Figure 2-7 -Quadrant "C" in Figure 2-7 above represents a(n) __________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

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commonly used techniques to aid mangers with important decisions for setting a direction and allocating resources include and analysis strategies.

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Cell "A": Situation (SWOT)analysis-is an...
View Answer

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The primary strength of business portfol...
View Answer

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Railroad Photo -railroad photo above shows a train hauling cargo.What "business" did rail executives believe they were in during mid-20^th century? What business is a railroad firm really in? Why?

Correct Answer
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In his famous "Marketing Myopia" article...
View Answer

the 20^th century,railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than a broader definition that encompassed __________.

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