Question 1

-According to Figure 2-3b above, which of the following SBUs is currently exceeding its YTD (Year to Date)  revenue target?

Accepted Answer

A)  Peripherals
B)  Hardware
C)  Circuitry
D)  Software
E)  Grand TotalF) A) and B)
G) A) and C)

Question 2

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)  tacticF) B) and E)
G) A) and B)

Question 3

During step 2 of the strategic marketing process, firms like Medtronic engage in all of the following marketing activities EXCEPT:

Accepted Answer

A)  position the product
B)  set marketing and product goals
C)  develop the marketing program
D)  select target markets
E)  find points of differenceF) A) and C)
G) A) and E)

Question 4

The Boston Consulting Group (BCG)  uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Accepted Answer

A)  target marketing
B)  synergy analysis
C)  market-product grids
D)  business portfolio analysis
E)  diversification analysisF) A) and B)
G) B) and E)

Question 5

Figure 2-5
-Based on Figure 2-5 above, identify and explain each of the four market-product strategies represented by each quadrant (A, B, C, and D) in the diversification analysis matrix.

Accepted Answer

There are four market-product strategies...

Question 6

The marketing strategy of developing new products and selling them in new markets is referred to as

Accepted Answer

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

Question 7

-In Figure 2-2 above, C represents the "how" element of visionary organization. This is referred to as __________.

Accepted Answer

A)  organizational tactics
B)  organizational mission
C)  organizational foundation
D)  organizational direction
E)  organizational strategiesF) A) and B)
G) B) and D)

Question 8

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Accepted Answer

A)  is based solely on company perception rather than actual data.
B)  considers all factors that might impact an SBU's value to an organization.
C)  acts as a strong motivational tool for employees in SBUs that have been labeled "dogs" or "question marks."
D)  forces a firm to place each of its SBUs in the growth-share matrix, which in turn suggests which SBUs will be cash producers or cash users in the future.
E)  identifies specific marketing strategies and marketing tactics on how to solve SBU shortcomings.F) A) and E)
G) B) and D)

Question 9

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

Accepted Answer

A marketing dashboard is the visual comp...

Question 10

Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________, including the firm itself.

Accepted Answer

A)  firms in the industry
B)  firms in the competitive set
C)  firms in the WTO
D)  product groupings
E)  domestic firms in a countryF) C) and D)
G) A) and D)

Question 11

__________ have an increasingly important role in top management because of their ability to think strategically, bringing with them to the job multi-industry backgrounds, cross-functional management expertise, analytical skills, and intuitive marketing insights.

Accepted Answer

A)  Chief marketing officers (CMOs) 
B)  Chief financial officers (CFOs) 
C)  Chief executive officers (CEOs) 
D)  Chief human resource officers (CHROs) 
E)  Chief operating officers (COOs) F) C) and D)
G) B) and E)

Question 12

Explain the steps in the evaluation phase of the strategic marketing process.

Accepted Answer

The evaluation phase of the strategic ma...

Question 13

Market development refers to the marketing strategy of

Accepted Answer

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

Question 14

A marketing strategy is the means by which a marketing goal is to be achieved. The two parts that usually characterize a marketing strategy are

Accepted Answer

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

Question 15

SightLife works to solve which societal problem?

Accepted Answer

A)  It provides new college graduates as teachers in urban and rural public schools in the U.S.
B)  It works to end corneal blindness worldwide by finding cornea donors and creating tissue banks.
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) A) and E)
G) A) and D)

Question 16

An organization's foundation includes which of the following?

Accepted Answer

A)  core values
B)  business definition
C)  goals
D)  strategic levels
E)  offeringsF) B) and C)
G) A) and E)

Question 17

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

Accepted Answer

A)  Step 1: situation (SWOT)  analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program
B)  Step 1: analysis; Step 2: planning; and Step 3: implementation
C)  Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product
D)  Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization
E)  Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?F) A) and B)
G) C) and D)

Question 18

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) D) and E)
G) C) and E)

Question 19

Which of the following statements regarding diversification analysis is most accurate?

Accepted Answer

A)  Companies should only use diversification analysis if they are well-established; new companies that use this process run the risk of trying to do too much too soon.
B)  For any product, there is both a current and a new market; for any market, there is both a current and a new product.
C)  Most companies discover that there is at least one product that is targeted to the wrong market.
D)  Diversification analysis is only effective for consumer products.
E)  Diversification analysis is used to forecast and calculate industry sales for new products.F) A) and B)
G) B) and D)

Question 20

An organization's competencies include all of the following EXCEPT:

Accepted Answer

A)  profit.
B)  customer service.
C)  technologies.
D)  resources.
E)  employee skills.F) A) and E)
G) A) and D)

Exam 2: Developing Successful Organizational and Marketing Strategies

-According to Figure 2-3b above, which of the following SBUs is currently exceeding its YTD (Year to Date) revenue target?

Correct AnswerverifiedShow Answer

Which of the following statements regarding diversification analysis is most accurate?

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Figure 2-5 -Based on Figure 2-5 above, identify and explain each of the four market-product strategies represented by each quadrant (A, B, C, and D) in the diversification analysis matrix.

Correct AnswerverifiedThere are four market-product strategies...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

SightLife works to solve which societal problem?

Correct AnswerverifiedShow Answer

Explain the steps in the evaluation phase of the strategic marketing process.

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

An organization's competencies include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

__________ have an increasingly important role in top management because of their ability to think strategically, bringing with them to the job multi-industry backgrounds, cross-functional management expertise, analytical skills, and intuitive marketing insights.

Correct AnswerverifiedShow Answer

The marketing strategy of developing new products and selling them in new markets is referred to as

Correct AnswerverifiedShow Answer

-In Figure 2-2 above, C represents the "how" element of visionary organization. This is referred to as __________.

Correct AnswerverifiedShow Answer

The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.

Correct AnswerverifiedShow 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

An organization's foundation includes which of the following?

Correct AnswerverifiedShow Answer

Market share is the ratio of sales revenue of the firm to the total sales revenue of all __________, including the firm itself.

Correct AnswerverifiedShow Answer

One of the strengths inherent in the use of the BCG business portfolio analysis is that it

Correct AnswerverifiedShow Answer

Market development refers to the marketing strategy of

Correct AnswerverifiedShow Answer

During step 2 of the strategic marketing process, firms like Medtronic engage in all of the following marketing activities EXCEPT:

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

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

Correct AnswerverifiedShow Answer

A marketing strategy is the means by which a marketing goal is to be achieved. The two parts that usually characterize a marketing strategy are

Correct AnswerverifiedShow Answer

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There are four market-product strategies...
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The evaluation phase of the strategic ma...
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A marketing dashboard is the visual comp...
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