Question 1

NexGenVest works to solve which societal problem?

Accepted Answer

A)   It provides new college graduates as teachers in urban and rural public schools in the United States.
B)   It gives information and advice to students navigating the financial and student loan market.
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) All of the above
G) C) and E)

Question 2

In the context of organizational direction, the term business refers to

Accepted Answer

A)   the daily operational decisions that must be implemented for an organization to remain viable.
B)   exchange transactions between seller and buyer in order for the seller to make sales and earn profits.
C)   the clear, broad, underlying industry or market sector of an organization's offering.
D)   an organization that develops an offering.
E)   the objectives of a firm and the strategies and tactics that will allow it to achieve them.F) B) and D)
G) A) and E)

Question 3

A mission statement should be all of these except which?

Accepted Answer

A)   actionable
B)   inspirational
C)   long-term
D)   meaningful
E)   conciseF) C) and D)
G) B) and D)

Question 4

Which of the following is a core value underlying business practices at IBM?

Accepted Answer

A)   fast failure in research and development
B)   honoring the contributions of important leaders
C)   rapid but sustainable growth
D)   influencing of popular culture
E)   innovation that matters for the company and for the worldF) B) and D)
G) A) and D)

Question 5

A key role of the marketing department is to "look outward." This is accomplished by

Accepted Answer

A)   allocating financial resources across strategic business units.
B)   communicating the vision of the marketing department forcefully enough to be incorporated into the overall mission of the company.
C)   forming cross-functional teams to help solve the organization's marketing problems.
D)   implementing new accounting regulations passed by legislators.
E)   listening to customers in order to inform decisions for developing and producing offerings.F) A) and E)
G) All of the above

Question 6

A(n)  ________ is a legal entity that consists of people who share a common mission.

Accepted Answer

A)   department
B)   organization
C)   SBU
D)   industry
E)   marketF) A) and B)
G) B) and D)

Question 7

In the 1980s, a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super-heavyweight market segment-motorcycles with engine capacity of 850 cubic centimeters or more-had shrunk from over 40 percent in the mid-1970s to 23 percent in 1983. But by 1989, Harley-Davidson controlled some 65 percent of this market segment. From a marketing perspective, what was the most likely first step in Harley-Davidson's resurgence?

Accepted Answer

A)   developing a new mission statement
B)   repositioning its products in the minds of super heavyweight motorcycle buyers
C)   performing a SWOT analysis to assess the firm's internal and external environments
D)   selling new models of super heavyweight motorcycles in both the United States (current)  and foreign (new)  markets
E)   improving the quality of its products and communicating this to motorcycle buyersF) B) and C)
G) A) and E)

Question 8

An organization's foundation can be broken into three key elements:

Accepted Answer

A)   products, services, and ideas.
B)   business definition, long-term goals, and short-term objectives.
C)   board of directors, top management, and stakeholders.
D)   corporate-level strategies, SBU-level strategies, and functional-level strategies.
E)   core values, mission or vision, and organizational culture.F) All of the above
G) D) and E)

Question 9

A marketing strategy to increase sales of current products in current markets is referred to as

Accepted Answer

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

Question 10

The planning gap refers to

Accepted Answer

A)   the difference between projected total costs and realized total revenues.
B)   the difference between projected total costs and net profits.
C)   the difference between marginal revenue and marginal cost.
D)   the percentage point difference between a firm and its next largest competitor in terms of market share.
E)   the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place.F) C) and D)
G) A) and E)

Question 11

Teach for America works to solve which societal problem?

Accepted Answer

A)   It provides new college graduates as teachers in urban and rural public schools in the United States.
B)   It works to end corneal blindness worldwide by training doctors to do corneal surgeries, finding cornea donors and creating tissue banks.
C)   It provides education, training, and small business loans to women in impoverished areas so that they can help themselves.
D)   It offers free access to graduate education for injured U.S. veterans returning from overseas conflict.
E)   It offers tax credits to small businesses to employ at-risk youth in their communities.F) A) and C)
G) B) and E)

Question 12

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Accepted Answer

A SWOT analysis is an acronym that descr...

Question 13

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 product or a service.
D)   whether management plans to develop mission statements or core values.
E)   the organizational culture and its core values.F) C) and E)
G) A) and E)

Question 14

The organizational ________ answers the question, "What will it do?"

Accepted Answer

A)   foundation
B)   direction
C)   culture
D)   strategy
E)   missionF) D) and E)
G) C) and D)

Question 15

The key steps of planning, implementation, and evaluation are part of

Accepted Answer

A)   gap analysis.
B)   the strategic marketing process.
C)   situational analysis.
D)   synergy analysis.
E)   diversification analysis.F) None of the above
G) A) and C)

Question 16

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development)  at the ________ level.

Accepted Answer

A)   strategic
B)   corporate
C)   functional
D)   business unit
E)   compartmentalF) B) and E)
G) B) and D)

Question 17

Figure 2-7
-Quadrant C in Figure 2-7 represents a(n)  ________ in a SWOT analysis.

Accepted Answer

A)   threat
B)   weakness
C)   strength
D)   opportunity
E)   market segmentF) None of the above
G) A) and D)

Question 18

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)   Subscribe to all the major trade journals to determine the offerings of competitors.
B)   Communicate with contractors using direct mail about the various walking surfaces Schofield can create for 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 E)
G) C) and D)

Question 19

The second phase of the strategic marketing process is the

Accepted Answer

A)   tactics phase.
B)   strategic phase.
C)   planning phase.
D)   implementation phase.
E)   evaluation phase.F) A) and E)
G) B) and C)

Question 20

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the United States, it would be using a ________ strategy.

Accepted Answer

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

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct Answer
verified

The key steps of planning, implementation, and evaluation are part of

Correct Answer
verified

Which of the following is a core value underlying business practices at IBM?

Correct Answer
verified

A mission statement should be all of these except which?

Correct Answer
verified

A(n) ________ is a legal entity that consists of people who share a common mission.

Correct Answer
verified

Organizational strategies vary in two ways, depending on

Correct Answer
verified

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the United States, it would be using a ________ strategy.

Correct Answer
verified

An organization's foundation can be broken into three key elements:

Correct Answer
verified

A key role of the marketing department is to "look outward." This is accomplished by

Correct Answer
verified

Figure 2-7 -Quadrant C in Figure 2-7 represents a(n) ________ in a SWOT analysis.

Correct Answer
verified

In the context of organizational direction, the term business refers to

Correct Answer
verified

A marketing strategy to increase sales of current products in current markets is referred to as

Correct Answer
verified

The planning gap refers to

Correct Answer
verified

The second phase of the strategic marketing process is the

Correct Answer
verified

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the ________ level.

Correct Answer
verified

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 Answer
verified

Teach for America works to solve which societal problem?

Correct Answer
verified

NexGenVest works to solve which societal problem?

Correct Answer
verified

The organizational ________ answers the question, "What will it do?"

Correct Answer
verified

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Correct Answer
verified
A SWOT analysis is an acronym that descr...
View Answer

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct AnswerverifiedShow Answer

The key steps of planning, implementation, and evaluation are part of

Correct AnswerverifiedShow Answer

Which of the following is a core value underlying business practices at IBM?

Correct AnswerverifiedShow Answer

A mission statement should be all of these except which?

Correct AnswerverifiedShow Answer

A(n) ________ is a legal entity that consists of people who share a common mission.

Correct AnswerverifiedShow Answer

Organizational strategies vary in two ways, depending on

Correct AnswerverifiedShow Answer

If Ben & Jerry's sold a line of new "Get the Dough Out of Politics" T-shirts targeted to college students in the United States, it would be using a ________ strategy.

Correct AnswerverifiedShow Answer

An organization's foundation can be broken into three key elements:

Correct AnswerverifiedShow Answer

A key role of the marketing department is to "look outward." This is accomplished by

Correct AnswerverifiedShow Answer

Figure 2-7 -Quadrant C in Figure 2-7 represents a(n) ________ in a SWOT analysis.

Correct AnswerverifiedShow Answer

In the context of organizational direction, the term business refers to

Correct AnswerverifiedShow Answer

A marketing strategy to increase sales of current products in current markets is referred to as

Correct AnswerverifiedShow Answer

The planning gap refers to

Correct AnswerverifiedShow Answer

The second phase of the strategic marketing process is the

Correct AnswerverifiedShow Answer

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the ________ level.

Correct AnswerverifiedShow 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

Teach for America works to solve which societal problem?

Correct AnswerverifiedShow Answer

NexGenVest works to solve which societal problem?

Correct AnswerverifiedShow Answer

The organizational ________ answers the question, "What will it do?"

Correct AnswerverifiedShow Answer

Identify and describe the four factors in a SWOT analysis and give examples for Ben & Jerry's Ice Cream that help identify the critical strategy-related factors that could impact the firm.

Correct AnswerverifiedA SWOT analysis is an acronym that descr...View AnswerShow Answer

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Correct Answer
verified
A SWOT analysis is an acronym that descr...
View Answer