Question 1

When Starbucks announced that it would release a new single-serve coffee maker called Verismo for sale in its U.S.outlets,it was using a __________ strategy.

Accepted Answer

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

Question 2

Netflix is a company that rents DVD movies either by mail or streams movies over the Internet.It jumped into an industry where there were many competitors from other local and national video stores.Initially,it established a loyal clientele by providing a service that was not available-reliable and fast shipment.Its delivery system created Netflix's

Accepted Answer

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

Question 3

Groups of 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 are referred to as

Accepted Answer

A)  designated teams.
B)  strategic business units.
C)  cross-functional teams.
D)  business committees.
E)  venture squads.F) B) and E)
G) A) and E)

Question 4

A technique that managers use to categorize strategic business units (SBUs) as question marks,stars,cash cows,or dogs is referred to as a(n)

Accepted Answer

A)  investment (ROI) analysis.
B)  synergy analysis.
C)  marketing audit.
D)  diversification analysis.
E)  business portfolio analysis.F) A) and D)
G) C) and D)

Question 5

An organization's mission refers to

Accepted Answer

A)  the target goal it sets for current profits based on enacting a comprehensive strategic plan.
B)  the target objective it projects for future market share based on enacting a comprehensive strategic plan.
C)  the fundamental,passionate,and enduring principles that guide its conduct over time.
D)  specific strategies and tactics that will be used to counteract any advantages of competitors.
E)  a statement of the organization's functions in society that identifies its customers,markets,products,and technologies.F) All of the above
G) A) and B)

Question 6

Most firms seek to maximize their long-run __________,achieving as high a financial return on their investments as possible.

Accepted Answer

A)  profits
B)  quality
C)  market share
D)  employee welfare
E)  social responsibilityF) A) and B)
G) B) and E)

Question 7

The organizational __________ answers the question,"What will we do?"

Accepted Answer

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

Question 8

In the context of organizational direction,a 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) C) and D)
G) A) and B)

Question 9

The 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."Dogs" are located in which quadrant of the BCG growth-share matrix?

Accepted Answer

A)  upper left quadrant
B)  upper right quadrant
C)  center of the four quadrants
D)  lower right quadrant
E)  lower left quadrantF) A) and E)
G) A) and C)

Question 10

Diversification refers to the marketing strategy of

Accepted Answer

A)  increasing sales of current products in current markets.
B)  selling current products to new markets.
C)  selling new products to new markets.
D)  selling new products to current markets.
E)  selling the same brands in both current and new markets.F) A) and D)
G) B) and D)

Question 11

A(n)  __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Accepted Answer

A)  agency
B)  business firm
C)  institution
D)  nonprofit organization
E)  entityF) B) and D)
G) A) and B)

Question 12

-Ben & Jerry's introduces products like its Goodbye Yellow Brickle Road ice cream flavor (see the Elton John image above)for a limited time each year as a response to its mission.Name and briefly describe the three interrelated parts of Ben & Jerry's mission.

Accepted Answer

Ben & Jerry's mission consists of three ...

Question 13

Data visualization

Accepted Answer

A)  is the visual computer display of the essential information related to achieving a marketing objective.
B)  is a road map for the marketing activities of an organization for a specified future time period.
C)  is the process of continuously collecting information about customers' needs,sharing this information across departments,and using it to create marketing metrics.
D)  is a measure of the quantitative value or trend of a marketing activity or result is the visual computer display of the essential information related to achieving a marketing objective.
E)  presents information about an organization's marketing metrics graphically so marketers can quickly spot deviations from plans and take corrective actions.F) C) and E)
G) A) and C)

Question 14

Evergreen Air Center is the world's biggest parking lot for unwanted aircraft.Airlines pay a monthly fee from $750 to $5,000 to mothball their unneeded airplanes at this site.Its location is on 1,600 acres of Arizona desert near Tucson.The Southwest climate of dry,warm air serves as a cheap and effective airplane preservative against rust.Evergreen's location is a(n)

Accepted Answer

A)  competency.
B)  sustainable advantage.
C)  competitive identity.
D)  core benefit proposition.
E)  innovative distinction.F) B) and E)
G) D) and E)

Question 15

Today's organizations can be divided into two groups,which are

Accepted Answer

A)  companies and cooperatives.
B)  corporations and interests.
C)  business firms and nonprofit organizations.
D)  employees and customers.
E)  public and private.F) A) and E)
G) B) and E)

Question 16

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 is referred to as the __________.

Accepted Answer

A)  planning gap
B)  contribution margin
C)  points of difference
D)  breakeven point
E)  sales response functionF) D) and E)
G) A) and B)

Question 17

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) A) and E)
G) A) and D)

Question 18

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 who manage the same product with distinctly different marketing programs to reach different target markets.F) A) and B)
G) A) and E)

Question 19

A business firm refers to

Accepted Answer

A)  a subsidiary,division,or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
B)  a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C)  a privately owned organization that serves its customers to earn a profit so that it can survive.
D)  a group of people united through contractual or corporate ownership.
E)  a publicly owned organization that serves the general population.F) A) and E)
G) B) and D)

Question 20

In keeping with its business mission,Ben & Jerry's has

Accepted Answer

A)  opened new Benjamin and Jerald's franchises that provide nut- and dairy-free alternatives for those with intolerance or allergy issues.
B)  created social entrepreneurship programs to help nonprofit organizations give jobs to at-risk youth.
C)  invested in research to create genetically engineered cows that will produce more hypoallergenic milk.
D)  limited its advertising to nonprint media.
E)  packaged its next line of bulk ice cream in glass containers that not only keep the ice cream colder,but are recyclable as well.F) B) and D)
G) A) and D)

Exam 2: Developing Successful Marketing and Organizational Strategies

Correct Answer
verified

In the context of organizational direction,a business refers to

Correct Answer
verified

In keeping with its business mission,Ben & Jerry's has

Correct Answer
verified

Cross-functional teams refer to

Correct Answer
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Groups of 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 are referred to as

Correct Answer
verified

Correct Answer
verified

When Starbucks announced that it would release a new single-serve coffee maker called Verismo for sale in its U.S.outlets,it was using a __________ strategy.

Correct Answer
verified

Today's organizations can be divided into two groups,which are

Correct Answer
verified

-Ben & Jerry's introduces products like its Goodbye Yellow Brickle Road ice cream flavor (see the Elton John image above)for a limited time each year as a response to its mission.Name and briefly describe the three interrelated parts of Ben & Jerry's mission.

Correct Answer
verified
Ben & Jerry's mission consists of three ...
View Answer

A business firm refers to

Correct Answer
verified

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Correct Answer
verified

An organization's mission refers to

Correct Answer
verified

Data visualization

Correct Answer
verified

The organizational __________ answers the question,"What will we do?"

Correct Answer
verified

The 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."Dogs" are located in which quadrant of the BCG growth-share matrix?

Correct Answer
verified

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

A technique that managers use to categorize strategic business units (SBUs) as question marks,stars,cash cows,or dogs is referred to as a(n)

Correct Answer
verified

Diversification refers to the marketing strategy of

Correct Answer
verified

Most firms seek to maximize their long-run __________,achieving as high a financial return on their investments as possible.

Correct Answer
verified

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 is referred to as the __________.

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

Correct AnswerverifiedShow Answer

In the context of organizational direction,a business refers to

Correct AnswerverifiedShow Answer

In keeping with its business mission,Ben & Jerry's has

Correct AnswerverifiedShow Answer

Cross-functional teams refer to

Correct AnswerverifiedShow Answer

Groups of 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 are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When Starbucks announced that it would release a new single-serve coffee maker called Verismo for sale in its U.S.outlets,it was using a __________ strategy.

Correct AnswerverifiedShow Answer

Today's organizations can be divided into two groups,which are

Correct AnswerverifiedShow Answer

-Ben & Jerry's introduces products like its Goodbye Yellow Brickle Road ice cream flavor (see the Elton John image above)for a limited time each year as a response to its mission.Name and briefly describe the three interrelated parts of Ben & Jerry's mission.

Correct AnswerverifiedBen & Jerry's mission consists of three ...View AnswerShow Answer

A business firm refers to

Correct AnswerverifiedShow Answer

A(n) __________ is a privately owned organization that serves its customers to earn a profit so that it can survive.

Correct AnswerverifiedShow Answer

An organization's mission refers to

Correct AnswerverifiedShow Answer

Data visualization

Correct AnswerverifiedShow Answer

The organizational __________ answers the question,"What will we do?"

Correct AnswerverifiedShow Answer

The 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."Dogs" are located in which quadrant of the BCG growth-share matrix?

Correct AnswerverifiedShow 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

A technique that managers use to categorize strategic business units (SBUs) as question marks,stars,cash cows,or dogs is referred to as a(n)

Correct AnswerverifiedShow Answer

Diversification refers to the marketing strategy of

Correct AnswerverifiedShow Answer

Most firms seek to maximize their long-run __________,achieving as high a financial return on their investments as possible.

Correct AnswerverifiedShow Answer

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 is referred to as the __________.

Correct AnswerverifiedShow Answer

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verified
Ben & Jerry's mission consists of three ...
View Answer

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