Question 1

organization's special capabilities,including skills,technology,and resources that distinguish it from other organizations and provide customer value is (are) referred to as

Accepted Answer

A)   a marketing edge.
B)   a sustainable advantage.
C)   core values.
D)   points of difference.
E)   competencies.F) D) and E)
G) C) and D)

Question 2

Customers are the reason an organizations exists.Customer __________ can be measured with surveys or by the number of customer complaints it receives.

Accepted Answer

A)   satisfaction
B)   welfare
C)   service
D)   value
E)   beliefsF) A) and B)
G) B) and E)

Question 3

Today's visionary organization uses three key elements: (1) specify its foundation; (2) __________; and (3) formulate strategies.

Accepted Answer

A)   set a direction
B)   establish detailed marketing tactics
C)   assign job responsibilities
D)   set financial goals
E)   establish an organizational chartF) A) and D)
G) A) and E)

Question 4

level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Accepted Answer

A)   marketing department level.
B)   strategic business unit level.
C)   corporate level.
D)   functional level.
E)   board of directors level.F) B) and E)
G) A) and B)

Question 5

Designing a car is expensive and time-consuming even with the use of computers because until recently,there was no way for all the varied departments that are involved in new car development to work together.Mercedes-Benz created a unique central web-based system that cuts the design and production process by at least two years,thus providing customer value.This is an example of a(n)

Accepted Answer

A)   point of difference.
B)   innovation-oriented mission.
C)   action program.
D)   operational goal implementation.
E)   competency.F) All of the above
G) A) and B)

Question 6

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) B) and C)

Question 7

technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as __________.

Accepted Answer

A)   diversification analysis
B)   synergy analysis
C)   a market-product grid framework
D)   Porter's generic business strategy assessment
E)   market segmentationF) A) and E)
G) A) and D)

Question 8

which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Accepted Answer

A)   situation analysis
B)   goal setting
C)   marketing program
D)   sales forecasting
E)   market segmentationF) B) and E)
G) C) and D)

Question 9

Explain the difference between "competencies" and "competitive advantage" in an organizational setting.

Accepted Answer

An organization's core competencies are ...

Question 10

Kodak's digital camera sales may flatten due to high household penetration,the economic downturn,and increased competition.Kodak remains No.3 in market share behind Canon and Sony.Today more women are buying digital cameras because they are small and light.Bottom line: Kodak expects this SBU to continue to be a "__________," with its new digital camera models generating mainly replacement sales.

Accepted Answer

A)   hedgehog
B)   star
C)   cash cow
D)   dog
E)   question markF) A) and B)
G) A) and D)

Question 11

After examining a planning gap,firms typically attempt to

Accepted Answer

A)   decide if the time horizon should be increased or decreased.
B)   perform a SWOT analysis with their major competitor as the principal focus.
C)   use statistical linear trend analysis to interpret the results.
D)   exploit a positive deviation or correct a negative deviation.
E)   adopt a market-product grid to analyze the sales results.F) A) and C)
G) None of the above

Question 12

McDermott is President and CEO of SAP Americas and Asia Pacific Japan.SAP is a company that sells extremely expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Accepted Answer

A)   business unit
B)   functional
C)   corporate
D)   strategic
E)   tacticalF) None of the above
G) A) and D)

Question 13

and briefly describe the seven types of organizational goals or objectives.

Accepted Answer

The seven types of organizational goals ...

Question 14

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."Stars" are located in which area of the BCG growth-share matrix?

Accepted Answer

A)   upper left quadrant
B)   upper right quadrant
C)   center quadrant
D)   lower right quadrant
E)   lower left quadrantF) D) and E)
G) B) and D)

Question 15

Objectives refer to

Accepted Answer

A)   the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.
B)   criteria or standards used in evaluating proposed solutions to a marketing problem.
C)   statements of an accomplishment of a task to be achieved, often by a specific time.
D)   a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
E)   the detailed day-to-day operational decisions essential to the overall success of marketing strategies.F) C) and E)
G) All of the above

Question 16

__________ is a legal entity of people who share a common mission.

Accepted Answer

A)   department
B)   organization
C)   SBU
D)   industry
E)   market segmentF) B) and C)
G) B) and D)

Question 17

Figure 2-5
-Consider Figure 2-5 above.A small family owns gelato business in the town's favorite place where parents and children stop on their way home from work to relax or school to play.However,the business owner is barely making ends meet.He experiments by purchasing a case of large take-home containers so customers can not only stop on the way home from school or work but also enjoy the gelato after dinner at home.Profits begin to rise.This is an example of a __________ strategy that would be found in quadrant __________.

Accepted Answer

A)   product penetration; "A"
B)   market penetration; "A"
C)   product development; "B"
D)   market development; "B"
E)   market development; "C"F) C) and D)
G) A) and B)

Question 18

Figure 2-4
-Figure 2-4 shown above,SBUs found in quadrant "A" would be called __________.

Accepted Answer

A)   cash cows
B)   question marks
C)   dogs
D)   hedgehogs
E)   starsF) A) and B)
G) A) and C)

Question 19

Explain what a visionary organization is and the two key steps that are part of how visionary organizations formulate strategies.

Accepted Answer

Management experts stress that to be suc...

Question 20

Identify and describe the three phases of the strategic marketing process.

Accepted Answer

The three phases of the strategic market...

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct Answer
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Correct Answer
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level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Correct Answer
verified

Explain the difference between "competencies" and "competitive advantage" in an organizational setting.

Correct Answer
verified
An organization's core competencies are ...
View Answer

Correct Answer
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Figure 2-4 -Figure 2-4 shown above,SBUs found in quadrant "A" would be called __________.

Correct Answer
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which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Correct Answer
verified

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

Explain what a visionary organization is and the two key steps that are part of how visionary organizations formulate strategies.

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

Objectives refer to

Correct Answer
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and briefly describe the seven types of organizational goals or objectives.

Correct Answer
verified
The seven types of organizational goals ...
View Answer

__________ is a legal entity of people who share a common mission.

Correct Answer
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After examining a planning gap,firms typically attempt to

Correct Answer
verified

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."Stars" are located in which area of the BCG growth-share matrix?

Correct Answer
verified

organization's special capabilities,including skills,technology,and resources that distinguish it from other organizations and provide customer value is (are) referred to as

Correct Answer
verified

Identify and describe the three phases of the strategic marketing process.

Correct Answer
verified
The three phases of the strategic market...
View Answer

technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as __________.

Correct Answer
verified

Today's visionary organization uses three key elements: (1) specify its foundation; (2) __________; and (3) formulate strategies.

Correct Answer
verified

Customers are the reason an organizations exists.Customer __________ can be measured with surveys or by the number of customer complaints it receives.

Correct Answer
verified

McDermott is President and CEO of SAP Americas and Asia Pacific Japan.SAP is a company that sells extremely expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the

Correct AnswerverifiedShow Answer

Explain the difference between "competencies" and "competitive advantage" in an organizational setting.

Correct AnswerverifiedAn organization's core competencies are ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Figure 2-4 -Figure 2-4 shown above,SBUs found in quadrant "A" would be called __________.

Correct AnswerverifiedShow Answer

which step of the planning stage of the strategic marketing process does a firm develop its marketing mix?

Correct AnswerverifiedShow Answer

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

Explain what a visionary organization is and the two key steps that are part of how visionary organizations formulate strategies.

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

Objectives refer to

Correct AnswerverifiedShow Answer

and briefly describe the seven types of organizational goals or objectives.

Correct AnswerverifiedThe seven types of organizational goals ...View AnswerShow Answer

__________ is a legal entity of people who share a common mission.

Correct AnswerverifiedShow Answer

After examining a planning gap,firms typically attempt to

Correct AnswerverifiedShow Answer

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."Stars" are located in which area of the BCG growth-share matrix?

Correct AnswerverifiedShow Answer

organization's special capabilities,including skills,technology,and resources that distinguish it from other organizations and provide customer value is (are) referred to as

Correct AnswerverifiedShow Answer

Identify and describe the three phases of the strategic marketing process.

Correct AnswerverifiedThe three phases of the strategic market...View AnswerShow Answer

technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is referred to as __________.

Correct AnswerverifiedShow Answer

Today's visionary organization uses three key elements: (1) specify its foundation; (2) __________; and (3) formulate strategies.

Correct AnswerverifiedShow Answer

Customers are the reason an organizations exists.Customer __________ can be measured with surveys or by the number of customer complaints it receives.

Correct AnswerverifiedShow Answer

McDermott is President and CEO of SAP Americas and Asia Pacific Japan.SAP is a company that sells extremely expensive enterprise resource planning software to large and mid-sized companies.McDermott operates at the __________ level of his organization.

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
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Correct Answer
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An organization's core competencies are ...
View Answer

Correct Answer
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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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Management experts stress that to be suc...
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Correct Answer
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The seven types of organizational goals ...
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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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The three phases of the strategic market...
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Correct Answer
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