Question 1

Organizational culture refers to

Accepted Answer

A)  the personal moral and ethical codes of a firm's management.
B)  written mission statements expressing a firm's goals and objectives.
C)  the fundamental, passionate, and enduring principles that guide its conduct over time.
D)  the cultural ethos of an organization including the proprietary values of its management.
E)  a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.F) A) and C)
G) B) and E)

Question 2

Corporate level refers to

Accepted Answer

A)  the level in an organization where top management directs overall strategy for the entire organization.
B)  the level in an organization where top management develops recruitment strategies and tactics for all departments.
C)  the level in an organization where top management directs all employees' training and orientation to ensure consistency of performance.
D)  the level in an organization where top management develops overall sales projections not only for the immediate future, but for a period of at least two to five years.
E)  the level in an organization where top management personally supervises the hiring, firing, and training of all marketing department personnel.F) B) and E)
G) C) and D)

Question 3

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, an industry that is growing worldwide.According to the BCG portfolio matrix, Atlantix Global would most likely be classified as a

Accepted Answer

A)  dog.
B)  cash cow.
C)  question mark.
D)  star.
E)  problem child.F) A) and B)
G) A) and C)

Question 4

As the CEO of the company the sales revenues of which are shown in Figure 2-9 above, you are most likely

Accepted Answer

A)  proud of your accomplishments between 2003 and 2012.
B)  feeling good because the results are precisely on track with plan.
C)  going to reward your subordinates for outstanding performance.
D)  worried that the board might fire you.
E)  devising a new plan since the prior plan is clearly not working.F) B) and C)
G) All of the above

Question 5

Many universities and other educational institutions provide retirement benefits by doubling the percentage the employee pays into the account up to a certain percentage of his or her pay.This provides a wonderful benefit to those who are full-time employees.This is an example of a __________ goal.

Accepted Answer

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

Question 6

The strategies an organization develops to provide value to the customers it serves is called a(n)

Accepted Answer

A)  mission statement.
B)  innovative goal.
C)  objective statement.
D)  business model.
E)  social responsibility.F) B) and C)
G) A) and E)

Question 7

The primary target market for Warm Delights is _________.

Accepted Answer

A)  empty-nesters
B)  on-the-go women
C)  college students with microwaves
D)  young marrieds who often have unexpected company
E)  families with small children wanting after-school treatsF) A) and E)
G) D) and E)

Question 8

The 3M Company developed an innovative program called Pollution Prevention Pays (3P)  to reduce harmful environmental impacts _________.

Accepted Answer

A)  while making a profit doing so
B)  while complying with new governmental incentives
C)  by educating consumers on the benefits of recycling
D)  by publically challenging its major competitors to do the same
E)  by absorbing the costs through higher consumer pricesF) C) and D)
G) A) and D)

Question 9

A small businesswoman was preparing her staff for the upcoming holiday season."We want to move as much inventory as possible.Not only can we highlight our holiday items, why not mark down some of our other seasonal items while people are in a shopping mood." From this statement, she is most concerned with __________ goals.

Accepted Answer

A)  profit
B)  sales revenue
C)  market share
D)  social responsibility
E)  survivalF) A) and E)
G) A) and D)

Question 10

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

Accepted Answer

A)  it causes dissension between different divisions when they are "labeled."
B)  it reduces employee motivation to move a low valued SBU to a higher one.
C)  considers so many SBU factors beyond market growth rate and relative market share.
D)  does not require forecasts in order to be implemented.
E)  is often difficult to obtain the needed information to correctly place SBUs on the grid.F) A) and B)
G) C) and E)

Question 11

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development)  at the _________ level, where groups of specialists actually create value for the organization.

Accepted Answer

A)  strategic
B)  corporate
C)  functional
D)  business unit
E)  top managementF) A) and E)
G) A) and D)

Question 12

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

Accepted Answer

A)  the contribution margin.
B)  the marginal space.
C)  the breakeven point.
D)  the planning gap.
E)  differential location.F) C) and D)
G) None of the above

Question 13

Market segmentation refers to

Accepted Answer

A)  identifying small groups of customers with dissimilar needs but grouping them together through a single advertising campaign.
B)  aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.
C)  aggregating prospective buyers into groups or segments that have common needs and will respond similarly to a marketing action.
D)  aggregating different products into more reasonable product groupings to better serve consumers' needs.
E)  differentiating products within a product line by unique criteria to attract the greatest number of potential customers.F) A) and B)
G) A) and C)

Question 14

The primary purpose of business portfolio analysis is to

Accepted Answer

A)  determine which SBU would be best suited for entry into a foreign market.
B)  document sales figures for government tax analysis and financial audits.
C)  determine the appeal of each SBU or offering and then determine the amount of cash, if any, each should receive.
D)  determine which units can be consolidated for production efficiency and which units should be divided into new distinct SBUs of their own.
E)  serve as documentation to shareholders of the value of the company's stock projected into the future.F) A) and E)
G) A) and C)

Question 15

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent, delicious, and gooey dessert.So they wanted which of these characteristics in the dessert?

Accepted Answer

A)  no cleanup
B)  a single portion
C)  quick preparation
D)  consistent great taste
E)  all of the aboveF) D) and E)
G) C) and E)

Question 16

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads strategy-planning efforts is often referred to as

Accepted Answer

A)  the corporate executive overseer.
B)  the chief executive officer.
C)  the corporate executive official.
D)  the chief petty officer.
E)  the coordinating executive officer.F) A) and B)
G) A) and E)

Question 17

Which of the following statements regarding Ben & Jerry's is most accurate?

Accepted Answer

A)  Ben & Jerry's is a privately owned nationally directed ice cream producer.
B)  Ben & Jerry's pride itself on offering more flavors than any other company in the world.
C)  Ben and Jerry are not real people; the names were a clever reference to Tom and Jerry (cartoon characters)  in order to capitalize on childhood nostalgia.
D)  Ben & Jerry's are now owned by Unilever, the market leader in the global ice cream industry.
E)  Ben & Jerry's have only been in business for ten years and is already the industry leader in premium ice cream.F) B) and E)
G) All of the above

Question 18

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here Wrigley can create new products-a joint effort by some 250 full-time food scientists, researchers, and marketers.The people who work in this center are most likely members of

Accepted Answer

A)  innovation teams.
B)  a business consortium.
C)  multiple strategic directional teams.
D)  strategic implementation teams.
E)  cross-functional teams.F) A) and E)
G) None of the above

Question 19

Procter and Gamble Co.manufactures consumer products such as Crest toothpaste and the Swiffer mop.But P & G does not see itself as a toothpaste or a mop company.Instead it sees itself as an innovative company with the goal of solving consumer problems.P & G most likely grew its market share in 70% of its businesses because

Accepted Answer

A)  it coincided with a consumer trend where people were becoming more home oriented.
B)  it invented new products to provide value to the customers it serves.
C)  it increased advertising for tried and true products.
D)  it capitalized on the fact that everyone liked Crest toothpaste.
E)  of the natural product life cycle when the cycle was at its peak.F) B) and E)
G) B) and C)

Question 20

The acronym "SWOT" used in the term "SWOT analysis" stands for

Accepted Answer

A)  strengths, weaknesses, opportunities, and tactics.
B)  strengths, weaknesses, options, and tactics.
C)  strengths, weaknesses, opportunities, and threats.
D)  simple, workable, optimal, and timely.
E)  state the problem, work out a strategy, organize your team, and take action.F) A) and E)
G) A) and D)

Exam 2: Developing Successful Marketing and Organizational Strategies

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the _________ level, where groups of specialists actually create value for the organization.

Correct Answer
verified

Market segmentation refers to

Correct Answer
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Corporate level refers to

Correct Answer
verified

Correct Answer
verified

The acronym "SWOT" used in the term "SWOT analysis" stands for

Correct Answer
verified

Many universities and other educational institutions provide retirement benefits by doubling the percentage the employee pays into the account up to a certain percentage of his or her pay.This provides a wonderful benefit to those who are full-time employees.This is an example of a __________ goal.

Correct Answer
verified

The 3M Company developed an innovative program called Pollution Prevention Pays (3P) to reduce harmful environmental impacts _________.

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

Correct Answer
verified

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here Wrigley can create new products-a joint effort by some 250 full-time food scientists, researchers, and marketers.The people who work in this center are most likely members of

Correct Answer
verified

The primary target market for Warm Delights is _________.

Correct Answer
verified

Organizational culture refers to

Correct Answer
verified

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent, delicious, and gooey dessert.So they wanted which of these characteristics in the dessert?

Correct Answer
verified

Correct Answer
verified

The primary purpose of business portfolio analysis is to

Correct Answer
verified

Correct Answer
verified

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads strategy-planning efforts is often referred to as

Correct Answer
verified

Which of the following statements regarding Ben & Jerry's is most accurate?

Correct Answer
verified

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

Correct Answer
verified

As the CEO of the company the sales revenues of which are shown in Figure 2-9 above, you are most likely

Correct Answer
verified

The strategies an organization develops to provide value to the customers it serves is called a(n)

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the _________ level, where groups of specialists actually create value for the organization.

Correct AnswerverifiedShow Answer

Market segmentation refers to

Correct AnswerverifiedShow Answer

Corporate level refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The acronym "SWOT" used in the term "SWOT analysis" stands for

Correct AnswerverifiedShow Answer

Many universities and other educational institutions provide retirement benefits by doubling the percentage the employee pays into the account up to a certain percentage of his or her pay.This provides a wonderful benefit to those who are full-time employees.This is an example of a __________ goal.

Correct AnswerverifiedShow Answer

The 3M Company developed an innovative program called Pollution Prevention Pays (3P) to reduce harmful environmental impacts _________.

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

Correct AnswerverifiedShow Answer

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here Wrigley can create new products-a joint effort by some 250 full-time food scientists, researchers, and marketers.The people who work in this center are most likely members of

Correct AnswerverifiedShow Answer

The primary target market for Warm Delights is _________.

Correct AnswerverifiedShow Answer

Organizational culture refers to

Correct AnswerverifiedShow Answer

The Betty Crocker marketing team that developed Warm Delights challenged the food scientists at General Mills to make an indulgent, delicious, and gooey dessert.So they wanted which of these characteristics in the dessert?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The primary purpose of business portfolio analysis is to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The highest-ranking person in an organization who oversees the organization's daily operations and spearheads strategy-planning efforts is often referred to as

Correct AnswerverifiedShow Answer

Which of the following statements regarding Ben & Jerry's is most accurate?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

As the CEO of the company the sales revenues of which are shown in Figure 2-9 above, you are most likely

Correct AnswerverifiedShow Answer

The strategies an organization develops to provide value to the customers it serves is called a(n)

Correct AnswerverifiedShow Answer

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