Question 1

When sales revenue is chosen as an organizational goal, a firm whose profits are acceptable

Accepted Answer

A)  increases sales levels and strives for a constant level of profits.
B)  maintains sales levels and strives for maximum profitability.
C)  maintains or increases sales levels even though profitability may not be maximized.
D)  decreases sales levels but increases profit margins.
E)  decreases sales levels and reduces the profit margin.F) A) and B)
G) A) and D)

Question 2

FIGURE 2-7 
-Box "B" in Figure 2-7 above represents the marketing strategy of _________.

Accepted Answer

A)  market penetration
B)  market reversal
C)  market development
D)  product development
E)  diversificationF) C) and D)
G) None of the above

Question 3

Today's visionary organization uses key elements to (1)  establish a foundation and (2)  set a direction, using (3)  __________

Accepted Answer

A)  its experience from previous strategic failures to prevent making the same mistakes twice.
B)  its strategies that enable it to develop and market its offerings successfully.
C)  knowledge based both on subjective input of cross-functional teams and forecasts based upon current company data.
D)  the combined knowledge of upper management, middle management, and employees who work directly with the firm's customers.
E)  marketing dashboards developed by an objective outside firm using internal company data collected solely for that purpose.F) A) and B)
G) A) and E)

Question 4

FIGURE 2-3 
-According to Figure 2-3 above, during which year did cost of sales most closely approach sales?

Accepted Answer

A)  1998
B)  1999
C)  2000
D)  2001
E)  each year shownF) B) and E)
G) C) and D) A

Question 5

In the 1980s, a lapse in production quality and increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy.The company's share of the U.S.super-heavy-weight market-motorcycles with engine capacity of 850 cubic centimeters or more-collapsed from more than 40 percent in the mid 1970s to 23 percent in 1983.However, by 1989, Harley-Davidson controlled some 65 percent of the U.S.market; and both in the U.S.and overseas markets, the company won't be able to meet demand for years.From a marketing perspective, what was the most likely first step in Harley-Davidson's resurgence?

Accepted Answer

A)  Development of a new mission statement and subsequent marketing strategy.
B)  Repositioning their product in the minds of motorcycle buyers.
C)  Performing a SWOT analysis.
D)  Seeking new markets for the motorcycles both in the U.S.and in foreign markets.
E)  Improving the quality of their product and communicating this to motorcycle buyers.F) C) and E)
G) A) and B)

Question 6

In marketing, the philosophical reason for a firm's existence is referred to as its organizational _________.

Accepted Answer

A)  strategy
B)  goal
C)  foundation
D)  underpinning
E)  visionF) C) and E)
G) D) and E)

Question 7

Strategic business unit refers to

Accepted Answer

A)  a subsidiary, division, or unit of an organization that directs overall strategy for the organization that markets a set of related products to a clearly defined group of customers.
B)  a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals.
C)  a single product or service identification code used to identify items for inventory purposes.
D)  a single product or service identification code used to identify items for inventory bills of lading.
E)  a privately owned franchise under the auspices of a larger group or organization bearing the same name.F) C) and D)
G) B) and E) A

Question 8

A measure of the quantitative value or trend of a marketing activity or result is referred to as a

Accepted Answer

A)  trend analysis.
B)  marketing measurement.
C)  marketing dashboard.
D)  marketing metric.
E)  value analysis.F) C) and D)
G) A) and B)

Question 9

its strategies that enable it to develop and market its offerings successfully.

Accepted Answer

A)  set financial goals
B)  establish a foundation
C)  establish detailed marketing tactics
D)  assign job responsibilities
E)  establish financial parametersF) B) and C)
G) A) and E)

Question 10

A _________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Accepted Answer

A)  business firm
B)  community action program
C)  nonprofit state agency
D)  nonprofit organization
E)  cooperativeF) C) and E)
G) B) and E)

Question 11

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 total profits.
C)  the difference between projected marginal revenue and actual marginal revenue changes that occur as the result of an environmental force.
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) A) and D)
G) A) and C)

Question 12

FIGURE 2-7 
-See Figure 2-7 above.A small family owned gelato business is the town's favorite place for parents and children to stop on their way home from work or school.However, the business owner is barely making ends meet.The adults who stop by are always complimenting him on the unusual gelato flavor selections.He decides to experiment by packaging his special spices into small packets that can be used at home as flavorings for dinner drinks.Profits begin to rise.This is an example of a __________ strategy that would be found in box _________.

Accepted Answer

A)  market penetration; A
B)  product development; B
C)  market development; C
D)  diversification; D
E)  market reversal; DF) All of the above
G) B) and E)

Question 13

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Accepted Answer

The evaluation phase of the strategic ma...

Question 14

A marketing strategy is the means by which a marketing goal is to be achieved.Two factors that usually characterize a marketing strategy are

Accepted Answer

A)  specific goals and organizational objectives.
B)  a detailed marketing plan and marketing budget.
C)  marketing strategies and marketing tactics.
D)  a specified target market and a marketing program to reach it.
E)  marketing programs and deviation control.F) B) and E)
G) C) and D)

Question 15

In 2007, Kodak introduced a line of digital picture frames that allowed consumers to upload, store, and view digital images; additional higher priced and more sophisticated elements were added to the line.By 2012, sales could approach 50 million units for market leader Kodak.According to the BCG matrix, this SBU is a

Accepted Answer

A)  dog.
B)  star.
C)  cash cow.
D)  question mark.
E)  problem child.F) A) and B)
G) A) and C)

Question 16

Which of the following statements regarding the strategic business unit level is most accurate?

Accepted Answer

A)  The strategic business unit level is the level that works most directly with the 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 E)
G) None of the above

Question 17

What are the steps involved in the planning phase of the strategic marketing process?

Accepted Answer

A)  situation (SWOT)  analysis; market-product focus and goal setting; and marketing program development
B)  planning; implementation; and control
C)  set market and product goals; select target markets; find points of difference; and position the product
D)  identify industry trends; analyze competitors; and assess own company
E)  identify where we have been; where we are headed; and where we are nowF) B) and D)
G) A) and D) A

Question 18

The reward to a business firm for the risk it undertakes in marketing its offerings is referred to as

Accepted Answer

A)  shareholders' equity.
B)  profit.
C)  inventory turnover.
D)  contribution margin.
E)  asset leverage.F) B) and D)
G) A) and B)

Question 19

In 2008, Kodak's ink-jet printer could be considered a question mark because the market dramatically changed as consumers shifted from single-purpose to multi-function machines designed to print photos, make copies, scan images, and send faxes.Today Kodak now offers only multi-function ones.If Kodak can double or triple unit sales soon, this SBU star could become a _________, if online printing and sharing steal market share, the SBU could become a _________.

Accepted Answer

A)  cash cow; star
B)  cash cow; dog
C)  star; dog
D)  star; problem child
E)  in either scenario, the inkjet printer will remain a question mark.F) A) and E)
G) A) and D)

Question 20

The marketing strategy to sell existing products to new markets is referred to as _________.

Accepted Answer

A)  market penetration
B)  market infiltration
C)  market development
D)  market diversification
E)  market capitalizationF) C) and D)
G) B) and E)

Exam 2: Developing Successful Marketing and Organizational Strategies

When sales revenue is chosen as an organizational goal, a firm whose profits are acceptable

Correct Answer
verified

FIGURE 2-7 -Box "B" in Figure 2-7 above represents the marketing strategy of _________.

Correct Answer
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Today's visionary organization uses key elements to (1) establish a foundation and (2) set a direction, using (3) __________

Correct Answer
verified

FIGURE 2-3 -According to Figure 2-3 above, during which year did cost of sales most closely approach sales?

Correct Answer
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A

Correct Answer
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In marketing, the philosophical reason for a firm's existence is referred to as its organizational _________.

Correct Answer
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Strategic business unit refers to

Correct Answer
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A

A measure of the quantitative value or trend of a marketing activity or result is referred to as a

Correct Answer
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its strategies that enable it to develop and market its offerings successfully.

Correct Answer
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A _________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct Answer
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Planning gap refers to

Correct Answer
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What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct Answer
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The evaluation phase of the strategic ma...
View Answer

A marketing strategy is the means by which a marketing goal is to be achieved.Two factors that usually characterize a marketing strategy are

Correct Answer
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Correct Answer
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Which of the following statements regarding the strategic business unit level is most accurate?

Correct Answer
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What are the steps involved in the planning phase of the strategic marketing process?

Correct Answer
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A

The reward to a business firm for the risk it undertakes in marketing its offerings is referred to as

Correct Answer
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Correct Answer
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The marketing strategy to sell existing products to new markets is referred to as _________.

Correct Answer
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Exam 2: Developing Successful Marketing and Organizational Strategies

When sales revenue is chosen as an organizational goal, a firm whose profits are acceptable

Correct AnswerverifiedShow Answer

FIGURE 2-7 -Box "B" in Figure 2-7 above represents the marketing strategy of _________.

Correct AnswerverifiedShow Answer

Today's visionary organization uses key elements to (1) establish a foundation and (2) set a direction, using (3) __________

Correct AnswerverifiedShow Answer

FIGURE 2-3 -According to Figure 2-3 above, during which year did cost of sales most closely approach sales?

Correct AnswerverifiedA

Correct AnswerverifiedShow Answer

In marketing, the philosophical reason for a firm's existence is referred to as its organizational _________.

Correct AnswerverifiedShow Answer

Strategic business unit refers to

Correct AnswerverifiedA

A measure of the quantitative value or trend of a marketing activity or result is referred to as a

Correct AnswerverifiedShow Answer

its strategies that enable it to develop and market its offerings successfully.

Correct AnswerverifiedShow Answer

A _________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

Correct AnswerverifiedShow Answer

Planning gap refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the purpose of the evaluation phase of the strategic marketing process? How is it accomplished?

Correct AnswerverifiedThe evaluation phase of the strategic ma...View AnswerShow Answer

A marketing strategy is the means by which a marketing goal is to be achieved.Two factors that usually characterize a marketing strategy are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements regarding the strategic business unit level is most accurate?

Correct AnswerverifiedShow Answer

What are the steps involved in the planning phase of the strategic marketing process?

Correct AnswerverifiedA

The reward to a business firm for the risk it undertakes in marketing its offerings is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The marketing strategy to sell existing products to new markets is referred to as _________.

Correct AnswerverifiedShow Answer

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The evaluation phase of the strategic ma...
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