Question 1

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)   diversification.F) A) and D)
G) B) and D)

Question 2

Netflix is a company that delivers DVD movies and television programming to consumers either by mail or streaming over the Internet. It faces many competitors, but continues to grow both in the United States and abroad. Part of what has driven success in recent years is its original content, with movies and shows like Bird Box and Stranger Things, popular programming that cannot be seen elsewhere. Its original content provides Netflix's

Accepted Answer

A)   viable mission.
B)   competitive advantage.
C)   tactical innovation.
D)   core benefit.
E)   sales orientation.F) A) and E)
G) C) and D)

Question 3

An approach whereby an organization allocates its marketing mix resources to reach its target markets and achieve a competitive advantage is

Accepted Answer

A)   the tactical marketing process.
B)   situational analysis.
C)   diversification analysis.
D)   synergy analysis.
E)   the strategic marketing process.F) A) and E)
G) A) and B)

Question 4

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. Question marks 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.F) A) and E)
G) A) and D)

Question 5

A competitive advantage refers to

Accepted Answer

A)   the cluster of benefits that an organization promises customers to satisfy their needs.
B)   those characteristics of a product that make it superior to competitive substitutes.
C)   a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
D)   actions taken by a firm with the sole intent of putting a competitor out of business.
E)   the added value given to a product beyond the functional benefits provided.F) A) and B)
G) B) and E)

Question 6

Diversification analysis refers to

Accepted Answer

A)   a technique that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.
B)   a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
C)   a technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
D)   a technique used to determine the appeal of each SBU or offering and then the amount of cash, if any, each should receive.
E)   a framework that identifies four "generic" strategies to achieve a competitive advantage.F) A) and E)
G) A) and B)

Question 7

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give at least one example of each.

Accepted Answer

A marketing program should include produ...

Question 8

Figure 2-1
-In Figure 2-1 above, Box A represents the ________ that oversees the three levels of strategy in an organization.

Accepted Answer

A)   functional level
B)   board of directors
C)   corporate level
D)   CEO
E)   strategic business unit levelF) A) and E)
G) A) and D)

Question 9

Alcatel offers a simple cell phone with calling and an FM radio for use in most international markets. This an example of Alcatel's

Accepted Answer

A)   evaluation strategy.
B)   price strategy.
C)   place strategy.
D)   promotion strategy.
E)   product strategy.F) A) and B)
G) B) and E)

Question 10

Apple launched the iPhone in 2007, had very strong sales, and its market share now exceeds 56 percent. The global smartphone market is expected to grow at an annual rate of 1-2 percent, slowing significantly since 2015. Although Apple's iPhone SBU was once a star, it seems to be becoming a

Accepted Answer

A)   question mark.
B)   lemon.
C)   hedgehog.
D)   cash cow.
E)   dog.F) A) and B)
G) A) and C)

Question 11

What is the difference between a marketing strategy and a marketing tactic?

Accepted Answer

A marketing strategy is the means by whi...

Question 12

The two major aspects of the evaluation phase of the strategic marketing process are

Accepted Answer

A)   segmenting the market and selecting target markets.
B)   establishing a business mission and designing measurable goals and objectives.
C)   designing the marketing mix and setting the budget.
D)   comparing the results of the marketing program with the goals to identify deviations and acting on them.
E)   executing the marketing plan and designing the marketing organization.F) D) and E)
G) A) and E)

Question 13

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant D would be called

Accepted Answer

A)   cash cows.
B)   stars.
C)   question marks.
D)   treasure chests.
E)   dogs.F) C) and D)
G) A) and B)

Question 14

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is

Accepted Answer

A)   diversification analysis.
B)   business portfolio analysis.
C)   a market-product grid framework.
D)   synergy analysis.
E)   market segmentation.F) All of the above
G) A) and B)

Question 15

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 16

A situation analysis requires a firm to consider the external forces and trends that affect it, either favorable or unfavorable. Which scenario is an example of an external force?

Accepted Answer

A)   The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution.
B)   A hiring freeze is put into place. Although no one is fired, no one can be hired.
C)   A goal is set to decrease production costs with new equipment.
D)   A city government bans plastic straws inside all restaurants and bars in the city limits.
E)   Shareholders are rewarded with a sizable dividend check.F) C) and D)
G) B) and D)

Question 17

Seeking to obtain as high a financial return on their investments (ROI)  as possible, firms will often set ________ goals.

Accepted Answer

A)   sales
B)   quality
C)   market share
D)   profit
E)   employee welfareF) A) and E)
G) A) and D)

Question 18

The strategic marketing process involves three phases: planning, implementation, and

Accepted Answer

A)   review.
B)   execution.
C)   evaluation.
D)   goal revision.
E)   correction.F) C) and D)
G) A) and B)

Question 19

The initial step in the planning phase of the strategic marketing process involves

Accepted Answer

A)   establishing the budget.
B)   developing the marketing program.
C)   diversification analysis.
D)   auditing the marketing plan.
E)   conducting a situation (SWOT)  analysis.F) None of the above
G) A) and C)

Question 20

Points of difference refer to

Accepted Answer

A)   the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
B)   the cluster of benefits that an organization promises customers to satisfy their needs.
C)   a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.
D)   those characteristics of a product that make it superior to competitive substitutes.
E)   the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm.F) B) and E)
G) D) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

An approach whereby an organization allocates its marketing mix resources to reach its target markets and achieve a competitive advantage is

Correct Answer
verified

Points of difference refer to

Correct Answer
verified

Correct Answer
verified

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

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

The strategic marketing process involves three phases: planning, implementation, and

Correct Answer
verified

Figure 2-1 -In Figure 2-1 above, Box A represents the ________ that oversees the three levels of strategy in an organization.

Correct Answer
verified

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. Question marks are SBUs that are classified as having

Correct Answer
verified

A situation analysis requires a firm to consider the external forces and trends that affect it, either favorable or unfavorable. Which scenario is an example of an external force?

Correct Answer
verified

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant D would be called

Correct Answer
verified

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

Correct Answer
verified

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is

Correct Answer
verified

The initial step in the planning phase of the strategic marketing process involves

Correct Answer
verified

A competitive advantage refers to

Correct Answer
verified

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give at least one example of each.

Correct Answer
verified
A marketing program should include produ...
View Answer

Apple launched the iPhone in 2007, had very strong sales, and its market share now exceeds 56 percent. The global smartphone market is expected to grow at an annual rate of 1-2 percent, slowing significantly since 2015. Although Apple's iPhone SBU was once a star, it seems to be becoming a

Correct Answer
verified

The two major aspects of the evaluation phase of the strategic marketing process are

Correct Answer
verified

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set ________ goals.

Correct Answer
verified

What is the difference between a marketing strategy and a marketing tactic?

Correct Answer
verified
A marketing strategy is the means by whi...
View Answer

Diversification analysis refers to

Correct Answer
verified

Alcatel offers a simple cell phone with calling and an FM radio for use in most international markets. This an example of Alcatel's

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

An approach whereby an organization allocates its marketing mix resources to reach its target markets and achieve a competitive advantage is

Correct AnswerverifiedShow Answer

Points of difference refer 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

The strategic marketing process involves three phases: planning, implementation, and

Correct AnswerverifiedShow Answer

Figure 2-1 -In Figure 2-1 above, Box A represents the ________ that oversees the three levels of strategy in an organization.

Correct AnswerverifiedShow 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. Question marks are SBUs that are classified as having

Correct AnswerverifiedShow Answer

A situation analysis requires a firm to consider the external forces and trends that affect it, either favorable or unfavorable. Which scenario is an example of an external force?

Correct AnswerverifiedShow Answer

Figure 2-4In Figure 2-4 shown above, a representation of the BCG business portfolio analysis, SBUs found in quadrant D would be called

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is

Correct AnswerverifiedShow Answer

The initial step in the planning phase of the strategic marketing process involves

Correct AnswerverifiedShow Answer

A competitive advantage refers to

Correct AnswerverifiedShow Answer

A campus service organization annually raises money through the sale of T-shirts. What are the major components of the marketing program it should use to increase sales? Give at least one example of each.

Correct AnswerverifiedA marketing program should include produ...View AnswerShow Answer

Apple launched the iPhone in 2007, had very strong sales, and its market share now exceeds 56 percent. The global smartphone market is expected to grow at an annual rate of 1-2 percent, slowing significantly since 2015. Although Apple's iPhone SBU was once a star, it seems to be becoming a

Correct AnswerverifiedShow Answer

The two major aspects of the evaluation phase of the strategic marketing process are

Correct AnswerverifiedShow Answer

Seeking to obtain as high a financial return on their investments (ROI) as possible, firms will often set ________ goals.

Correct AnswerverifiedShow Answer

What is the difference between a marketing strategy and a marketing tactic?

Correct AnswerverifiedA marketing strategy is the means by whi...View AnswerShow Answer

Diversification analysis refers to

Correct AnswerverifiedShow Answer

Alcatel offers a simple cell phone with calling and an FM radio for use in most international markets. This an example of Alcatel's

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified
The evaluation phase of the strategic ma...
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Correct Answer
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Correct Answer
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Correct Answer
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A marketing program should include produ...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A marketing strategy is the means by whi...
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Correct Answer
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Correct Answer
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