Question 1

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

Question 2

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a __________ goal.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  social responsibility

Question 3

Customers' perceptions are of vital important to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Accepted Answer

A)  satisfaction
B)  welfare
C)  service
D)  value
E)  beliefs

Question 4

In 2003,Kodak's traditional film sales were an $8 billion dollar "cash cow." In 2009,the revenue generated dropped below $500 million.By 2012,film sales had virtually disappeared.Kodak's film SBU became a "dog" primarily due to

Accepted Answer

A)  an exponential increase in the price of silver,which is necessary for the production of film.
B)  the loss of patent protection.
C)  too much revenue shifted from this SBU to the more profitable ink-jet printer SBU.
D)  the use of traditional film cameras was only a fad.
E)  the advent of the popularity of digital photography.

Question 5

In a marketing context,goal setting involves setting measurable __________ to be achieved.

Accepted Answer

A)  marketing metrics
B)  marketing objectives
C)  marketing tactics
D)  marketing plans
E)  protocols

Question 6

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 chart

Question 7

Marketing tactics refer to the

Accepted Answer

A)  long-term decisions made to implement the marketing program and the monitoring of those decisions.
B)  detailed day-to-day operational decisions essential to the overall success of marketing strategies.
C)  steps taken to develop an effective marketing plan.
D)  development of marketing strategies to achieve the organization's marketing objectives.
E)  refinement of the organization's mission based on the results obtained from a marketing audit.

Question 8

The second phase of the strategic marketing process is the __________.

Accepted Answer

A)  tactics phase
B)  strategic phase
C)  planning phase
D)  implementation phase
E)  evaluation phase

Question 9

SBUs with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are referred to as __________.

Accepted Answer

A)  cash cows
B)  stars
C)  question marks
D)  dogs
E)  hedgehogs

Question 10

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Accepted Answer

A)  with the goal of generating enough revenue to be a completely nonprofit organization.
B)  on a sustainable financial basis of profitable growth,increasing value for our stakeholders and expanding opportunities for development and career growth for our employees.
C)  with the goal of making profits for selected charitable organizations such as Fair Trade.
D)  with the goal of increasing market share not only in ice cream sales but also in its retail clothing and accessories merchandise lines.
E)  with the goal of expanding into international markets by developing sustainable dairies for developing nations.

Question 11

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as __________.

Accepted Answer

A)  plans
B)  procedures
C)  strategies
D)  core values
E)  goals

Question 12

What is an organization's mission? What are some elements of a well-written mission statement?

Accepted Answer

By understanding its core values,an orga...

Question 13

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

Accepted Answer

The seven types of organizational goals ...

Question 14

The fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

Accepted Answer

A)  core values
B)  strategic goals
C)  vision
D)  corporate culture
E)  corporate ethos

Question 15

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Accepted Answer

A)  employee satisfaction
B)  employee compensation
C)  employee responsibility
D)  employee core value
E)  employee welfare

Question 16

If Dr.Pepper plans to grow its proportion of the flavors segment of carbonated soft drink industry to 45%,it has set a(n) __________ goal.

Accepted Answer

A)  sales proportionality
B)  company sales
C)  industry potential
D)  contribution margin
E)  market share

Question 17

American Express has a long history of working for the good of all in its New York community.In 1885,it engaged its employees to help raise money to build the pedestal of the Statue of Liberty,and today has a program to help restore,preserve and revitalize historic sites in New York City.These actions by American Express are partial fulfillment of the __________ the firm has established for itself as a corporate citizen.

Accepted Answer

A)  unit sales goals.
B)  market share goals.
C)  sales revenue goals.
D)  customer satisfaction goals.
E)  social responsibility goals.

Question 18

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

Accepted Answer

A)  Ben & Jerry's is owned by Unilever,the market leader in the global ice cream industry.
B)  Ben & Jerry's is a privately owned ice cream producer.
C)  Ben & Jerry's prides itself on offering more ice cream flavors than its competitors.
D)  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.
E)  Ben & Jerry's has only been in business for twenty years and is already the industry leader in premium ice cream.

Question 19

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Accepted Answer

A)  Business firms operate with larger budgets than nonprofits.
B)  Nonprofit organizations do not carry on economic activities while business firms do.
C)  Nonprofit organizations are concerned with social issues and business firms are not.
D)  Both serve customers,but business firms seek a profit while nonprofit organizations do not.
E)  Nonprofit organizations are publicly owned and business firms are privately owned.

Question 20

The founder of Starbucks,Howard Schultz,provides health care for all employees who work over 20 hours per week.He says "the companies that are doing the right thing by covering their employees [with health care coverage] are paying for the companies who don't do the right thing." This is an example of one of Starbucks' __________ goals.

Accepted Answer

A)  profit
B)  market share
C)  employee welfare
D)  customer satisfaction
E)  sales

Exam 2: Developing Successful Marketing and Organizational Strategies

The fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

Correct Answer
verified

Customers' perceptions are of vital important to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

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

Correct Answer
verified

In 2003,Kodak's traditional film sales were an $8 billion dollar "cash cow." In 2009,the revenue generated dropped below $500 million.By 2012,film sales had virtually disappeared.Kodak's film SBU became a "dog" primarily due to

Correct Answer
verified

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

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

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Correct Answer
verified

In a marketing context,goal setting involves setting measurable __________ to be achieved.

Correct Answer
verified

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as __________.

Correct Answer
verified

If Dr.Pepper plans to grow its proportion of the flavors segment of carbonated soft drink industry to 45%,it has set a(n) __________ goal.

Correct Answer
verified

SBUs with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are 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

The second phase of the strategic marketing process is the __________.

Correct Answer
verified

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Correct Answer
verified

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Correct Answer
verified

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a __________ goal.

Correct Answer
verified

Correct Answer
verified

What is an organization's mission? What are some elements of a well-written mission statement?

Correct Answer
verified
By understanding its core values,an orga...
View Answer

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

Correct Answer
verified

Marketing tactics refer to the

Correct Answer
verified

Exam 2: Developing Successful Marketing and Organizational Strategies

The fundamental,passionate,and enduring principles of an organization that guide its conduct over time are referred to as its __________.

Correct AnswerverifiedShow Answer

Customers' perceptions are of vital important to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

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

Correct AnswerverifiedShow Answer

In 2003,Kodak's traditional film sales were an $8 billion dollar "cash cow." In 2009,the revenue generated dropped below $500 million.By 2012,film sales had virtually disappeared.Kodak's film SBU became a "dog" primarily due to

Correct AnswerverifiedShow Answer

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

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

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Correct AnswerverifiedShow Answer

In a marketing context,goal setting involves setting measurable __________ to be achieved.

Correct AnswerverifiedShow Answer

Statements of an accomplishment of a task to be achieved,often by a specific time are referred to as __________.

Correct AnswerverifiedShow Answer

If Dr.Pepper plans to grow its proportion of the flavors segment of carbonated soft drink industry to 45%,it has set a(n) __________ goal.

Correct AnswerverifiedShow Answer

SBUs with dominant shares of slow-growth markets that provide cash to cover the organization's overhead and to invest in other SBUs are 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

The second phase of the strategic marketing process is the __________.

Correct AnswerverifiedShow Answer

Which statement best describes the most significant difference between a business firm and a nonprofit organization?

Correct AnswerverifiedShow Answer

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity.Its mission consists of three interrelated parts: Ben & Jerry's economic mission is to operate the company

Correct AnswerverifiedShow Answer

Suppose L.L.Bean,a catalog retailer,has set a goal to reduce merchandise returns by 20 percent for the holiday season.The firm would MOST LIKELY have set a __________ goal.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is an organization's mission? What are some elements of a well-written mission statement?

Correct AnswerverifiedBy understanding its core values,an orga...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Marketing tactics refer to the

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
By understanding its core values,an orga...
View Answer

Correct Answer
verified

Correct Answer
verified