Question 1

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Accepted Answer

The planning phase of the strategic mark...

Question 2

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Accepted Answer

The BCG business portfolio ana...

Question 3

When a company is developing new offerings, marketing may provide staff to serve as part of ________, joining a few others from different departments who are mutually accountable to this task.

Accepted Answer

A)   a cross-functional team
B)   a department
C)   a strategic business unit
D)   an organization
E)   a business consortiumF) D) and E)
G) C) and D)

Question 4

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Accepted Answer

A)   innovation group.
B)   business consortium.
C)   tactical group.
D)   SWOT team.
E)   cross-functional team.F) B) and E)
G) D) and E)

Question 5

Organizations can be divided into three groups, which are ________ organizations.

Accepted Answer

A)   company, nonprofit, and cooperative
B)   corporation, employee-owned, and interest
C)   for-profit, nonprofit, and governmental
D)   employee, distributor, and customer
E)   public, private, and internationalF) A) and B)
G) B) and E)

Question 6

Solarcom is a 30-year-old information technology company that owns several subsidiaries. One of its subsidiaries is Atlantix Global Systems, which is one of the leading wholesalers for refurbished computer equipment. It has a large share of an industry that is growing worldwide. According to the BCG business portfolio analysis framework, Atlantix Global would most likely be classified as a

Accepted Answer

A)   dog.
B)   cash cow.
C)   question mark.
D)   exclamation point.
E)   star.F) All of the above
G) A) and B)

Question 7

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

Accepted Answer

A)   threat
B)   weakness
C)   strength
D)   opportunity
E)   market segmentF) A) and B)
G) A) and C)

Question 8

Which of the following statements regarding organizational culture is most accurate?

Accepted Answer

A)   Organizational culture exists only at the corporate level of an organization.
B)   Organizational culture involves communicating and connecting with all of the firm's stakeholders.
C)   Organizational culture is best used only at the functional level for the most effective results.
D)   Organizational culture cannot be learned or taught.
E)   Organizational culture is a statement of the organization's function in society.F) None of the above
G) A) and E)

Question 9

Cross-functional teams refer to

Accepted Answer

A)   members of an organization who have been trained in multiple disciplines so they can easily move from one job to another as needed.
B)   situations where two departments within the same company have opposing views about how a product should be developed and managed.
C)   departments within an organization that carry out multiple functions due to financial constraints within the company.
D)   a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals.
E)   departments within an organization that manage the same product with distinctly different marketing programs to reach different target markets.F) C) and E)
G) B) and D)

Question 10

The term used to identify an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is referred to as a

Accepted Answer

A)   marketing strategy.
B)   policy.
C)   strategy.
D)   plan.
E)   tactic.F) A) and B)
G) B) and D)

Question 11

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Accepted Answer

Management experts stress that to be suc...

Question 12

All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?

Accepted Answer

A)   exploit an opportunity
B)   enhance sales with action
C)   avoid a disaster-laden threat
D)   build on a strength
E)   correct a weaknessF) C) and E)
G) All of the above

Question 13

________ is committed to using business concepts to change the world for good, using a variety of organizational models to address social needs that inspire passion.

Accepted Answer

A)   Corporate welfare
B)   A social entrepreneur
C)   Sustainable development
D)   Cause marketing
E)   Societal capitalismF) A) and B)
G) A) and C)

Question 14

Define marketing dashboard and marketing metric and explain how these terms are related.

Accepted Answer

A marketing dashboard is the visual comp...

Question 15

The marketing plan for IBM's "Let's Put Smart to Work " strategy includes which of the following marketing tactics?

Accepted Answer

A)   handing out "Let's Put Smart to Work" T-shirts on select college campuses throughout the world
B)   providing samples of new hard drives to Fortune 500 businesses
C)   advertising in Outdoor magazine
D)   including a strong message in an annual report from IBM's chairman of the board and CEO
E)   garnering a celebrity endorsement from Trevor Noah, the host of "The Daily Show"F) All of the above
G) A) and B)

Question 16

Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Accepted Answer

A)   consideration set.
B)   industry.
C)   competitors.
D)   target market.
E)   stakeholders.F) B) and C)
G) None of the above

Question 17

Successful organizations must be forward-looking, which includes the ability to

Accepted Answer

A)   develop strategies based on those that were successful in the past.
B)   be backward-looking, examining the past carefully to learn from mistakes.
C)   anticipate future events and respond quickly and effectively.
D)   hire the most culturally diverse team possible in order to generate the best new ideas.
E)   involve all stakeholders of the organization when defining its business mission.F) C) and E)
G) B) and D)

Question 18

The top consumer complaint about bananas is how soon they start getting brown spots. Dole, a multinational agricultural company, most likely set ________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30 percent of the firm)  to make a creamy, guilt-free dessert.

Accepted Answer

A)   a profit
B)   a market share
C)   an employee welfare
D)   a customer satisfaction
E)   a social responsibilityF) B) and D)
G) C) and D)

Question 19

Regarding goals and objectives, which of the following statements is most accurate?

Accepted Answer

A)   Objectives convert an organization's mission and business into long- and short-term performance targets.
B)   Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
C)   A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are rarely accomplished during the specified time period.
D)   Goal-setting only applies to business firms; nonprofit organizations typically do not set goals because they don't earn a profit.
E)   The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based.F) None of the above
G) A) and D)

Question 20

Explain what a planning gap is and what is used to close it.

Accepted Answer

A planning gap is the difference between...

Exam 2: Developing Successful Organizational and Marketing Strategies

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Define marketing dashboard and marketing metric and explain how these terms are related.

Correct Answer
verified
A marketing dashboard is the visual comp...
View Answer

Organizations can be divided into three groups, which are ________ organizations.

Correct Answer
verified

Successful organizations must be forward-looking, which includes the ability to

Correct Answer
verified

Correct Answer
verified

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Correct Answer
verified
The planning phase of the strategic mark...
View Answer

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct Answer
verified

The term used to identify an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is referred to as a

Correct Answer
verified

Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Correct Answer
verified

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

Correct Answer
verified

When a company is developing new offerings, marketing may provide staff to serve as part of ________, joining a few others from different departments who are mutually accountable to this task.

Correct Answer
verified

All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?

Correct Answer
verified

Cross-functional teams refer to

Correct Answer
verified

Regarding goals and objectives, which of the following statements is most accurate?

Correct Answer
verified

Explain what a planning gap is and what is used to close it.

Correct Answer
verified
A planning gap is the difference between...
View Answer

The marketing plan for IBM's "Let's Put Smart to Work " strategy includes which of the following marketing tactics?

Correct Answer
verified

Correct Answer
verified

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Correct Answer
verified
The BCG business portfolio ana...
View Answer

________ is committed to using business concepts to change the world for good, using a variety of organizational models to address social needs that inspire passion.

Correct Answer
verified

Which of the following statements regarding organizational culture is most accurate?

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

Define marketing dashboard and marketing metric and explain how these terms are related.

Correct AnswerverifiedA marketing dashboard is the visual comp...View AnswerShow Answer

Organizations can be divided into three groups, which are ________ organizations.

Correct AnswerverifiedShow Answer

Successful organizations must be forward-looking, which includes the ability to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

Correct AnswerverifiedThe planning phase of the strategic mark...View AnswerShow Answer

IBM regularly creates what it calls global action teams, which take people from functional groups and bring them together to work on large client projects. These global action teams are a type of

Correct AnswerverifiedShow Answer

The term used to identify an organization's long-term course of action designed to deliver a unique customer experience while achieving its goals is referred to as a

Correct AnswerverifiedShow Answer

Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

When a company is developing new offerings, marketing may provide staff to serve as part of ________, joining a few others from different departments who are mutually accountable to this task.

Correct AnswerverifiedShow Answer

All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?

Correct AnswerverifiedShow Answer

Cross-functional teams refer to

Correct AnswerverifiedShow Answer

Regarding goals and objectives, which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

Explain what a planning gap is and what is used to close it.

Correct AnswerverifiedA planning gap is the difference between...View AnswerShow Answer

The marketing plan for IBM's "Let's Put Smart to Work " strategy includes which of the following marketing tactics?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

Correct AnswerverifiedThe BCG business portfolio ana...View AnswerShow Answer

________ is committed to using business concepts to change the world for good, using a variety of organizational models to address social needs that inspire passion.

Correct AnswerverifiedShow Answer

Which of the following statements regarding organizational culture is most accurate?

Correct AnswerverifiedShow Answer

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified
A marketing dashboard is the visual comp...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The planning phase of the strategic mark...
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A planning gap is the difference between...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The BCG business portfolio ana...
View Answer

Correct Answer
verified

Correct Answer
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