mrk

Select the four principles that underlie the strategic marketing process. Multiple select question. Customers change. Competitors change and react. Organizational resources are limited. Competitors are different. Organizations are different. Customers are different.

Customers change. Competitors change and react. Organizational resources are limited. Customers are different.

To what does "opportunity" refer in SWOT analysis? Multiple choice question. Favorable aspects of the external environment Unfavorable aspects of the external environment Favorable internal attributes of a firm Unfavorable internal attributes of a firm

Favorable aspects of the external environment

______ convert an organization's mission and business into long- and short-term performance targets. Multiple choice question. Tactics Strategies Goals Segments

Goals

Obtaining resources and defining tasks and deadlines are part of which phase in the strategic marketing process? Multiple choice question. Planning Evaluation Implementation Differentiation

Implementation

Select all that apply Select the three qualities that make up a good mission statement. Multiple select question. The mission statement should offer an inspirational, long-term vision for the firm. The mission statement should be clear and concise. The mission statement should be complex and open to interpretation. The mission statement should identify a company's function in society. The mission statement should be on a rolling schedule so it may be frequently changed.

The mission statement should offer an inspirational, long-term vision for the firm. The mission statement should be clear and concise. The mission statement should identify a company's function in society.

What are the three levels of strategy in organizations? Multiple select question. corporate level staff level operational level strategic business unit level functional level

corporate level strategic business unit level functional level

An organization's Blank______ identifies the ideas, attitudes, and norms for behaviors that are clearly communicated to employees and other stakeholders. Multiple choice question. personality strategy culture mission

culture

Having a large prestigious, well-known brand is an example of a(n) ______ for an organization. Multiple choice question. opportunity threat weakness strength

strength

Match the BCG name to the correct characteristics.

1.Dogs: May generate enough cash to sustain themselves but are not considered current or future winners. 2. Cash cows: Generate large amount of cash which can be invested in other SBUs. 3. Question marks: Require cash to maintain market share, even though that share is small. 4. Stars: Requires cash to sustain rapid growth but will likely generate cash when growth slows.

Which of the following is NOT an example of a firm's strengths? Multiple choice question. A reputation for social responsibility An untapped overseas market A well-known brand name A large market share

An untapped overseas market

Organizational is defined as a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

Blank 1: culture

Points of are characteristics of a product that make it superior to competitive substitutes.

Blank 1: difference

Which of the following is a job title for the head of marketing in a large organization? Multiple choice question. Marketing director Marketing manager Chief executive officer Chief marketing officer

Chief marketing officer

Place the following levels of organization in order. (Note: the highest level should be the top item on your list and the lowest level should be on the bottom.)

Corporate Level Strategic business unit level Functional level

Select all that apply Select the four principles that underlie the strategic marketing process. Multiple select question. Customers change. Customers are different. Competitors are different. Organizational resources are limited. Organizations are different. Competitors change and react.

Customers change. Customers are different. Organizational resources are limited. Competitors change and react.

Among the four growth opportunities in diversification analysis, which is the most risky? Multiple choice question. Market penetration Market development Product development Diversification

Diversification

Match the BCG name to the correct combination of relative market share and market growth rate.

Dogs => low relative market share,low market growth rateCash Cows => high relative marketshare, low marketgrowth rate Question marks => low relativemarket share,high marketgrowth rate Stars => high relative market share, high market growth rate

Select all that apply Which of the following are true of a threat faced by an organization performing a SWOT analysis? (Check all that apply.) Multiple select question. It is an external factor. It is unfavorable. It is favorable. It is an internal factor.

It is an external factor. It is unfavorable.

Select all that apply An effective customer value proposition meets which three criteria? Multiple select question. It lists strengths and weaknesses of the firm. It outlines the process of segmenting the market. It is relevant. It details points of difference. It details specific benefits in clear terms.

It is relevant. It details points of difference. It details specific benefits in clear terms.

Which statement is true regarding market share? Multiple choice question. It is equivalent to a unit sales goal. It is a strategic business unit. It is the percentage of sales of an industry accounted for by a specific firm. It represents the profitability of a specific market in which the product competes.

It is the percentage of sales of an industry accounted for by a specific firm.

______ pertain to favorable aspects of the external environment. Multiple choice question. Opportunities Weaknesses Threats Strengths

Opportunities

Which tool serves as an effective summary of a situation analysis? Multiple choice question. market segmentation SWOT analysis mission statement business portfolio analysis

SWOT analysis

Select all that apply Which two are NOT part of the acronym "SWOT"? Multiple select question. Opportunities Weaknesses Timetables Sustainability

Timetables Sustainability

Identifying one's direct competition is a way to answer which question? Multiple choice question. What business are we in? What is our mission? Who are our customers? How achievable are our objectives?

What business are we in?

Identifying one's direct competition is a way to answer which question? Multiple choice question. Who are our customers? How achievable are our objectives? What is our mission? What business are we in?

What business are we in?

Business portfolio analysis and diversification analysis help an organization to answer what important strategic question? Multiple choice question. What product characteristics indicate success? Where do we want to go for growth? Where can we find new products? Where do competitors operate?

Where do we want to go for growth?

What three questions would a visionary organization seek to answer? Multiple select question. Why does it exist? How will it do it? What will it do? Why should it do it? How long will it take?

Why does it exist? How will it do it? What will it do?

The planning gap is an example of ______. Multiple choice question. a comparison of projected sales for current plans and a new sales goal a resource that has not fully been exploited a reason that the planning process cannot be completed skipping the planning process and proceeding directly to implementation

a comparison of projected sales for current plans and a new sales goal

If a company has a unique strength relative to its competitors, based on quality, time, cost, or innovation, then the company is said to have Blank______. Multiple choice question. operational excellence a competitive advantage a core value a product threat

a competitive advantage

Because Pure Foods is the only provider of responsibly farmed, sustainable beef products in the Midwest, it has achieved: Multiple choice question. market segmentation. production control. a core value. a competitive advantage.

a competitive advantage.

A marketing plan is a road map for marketing actions for ______. Multiple choice question. executive personnel in all disciplines the redirection of corporate strategy a future time period a maximization of unit sales

a future time period

A goal can be defined as Blank______. Multiple choice question. a statement of the purpose of a firm the internal strengths of a firm a statement of a task to be achieved the stakeholder needs of a firm

a statement of a task to be achieved

A strategy can be defined as Blank______. Multiple choice question. an organization's long-term course of action allowing it to achieve its goals an outline of a firm's competitive advantage a day-to-day blueprint for an organization a summary of a firm's competition that helps it position itself in the marketplace

an organization's long-term course of action allowing it to achieve its goals

The clear, broad, underlying industry category or market sector of an organization's offering defines its Blank______. Multiple choice question. business shareholders objectives culture

business

Points of difference are ______. Multiple choice question. traits of an organization that allow it to achieve superior profitability compared to its competitors characteristics of a product that make it superior to competitive substitutes ways that an organization differs from its competitors any way a product is different from competitive products, including both positive and negative aspects

characteristics of a product that make it superior to competitive substitutes

Select the items that characterize organizations. (Select all that apply) Multiple select question. consists of people who share a common mission strives to create value for its customers develops goods, services, or ideas main goal is to earn a profit

consists of people who share a common mission strives to create value for its customers develops goods, services, or ideas

An organization's ________ are the fundamental, passionate, and enduring principles that guide its conduct over time. Multiple choice question. strategies objectives missions core values

core values

A cluster of benefits that an organization promises customers (or segments) to satisfy their needs is a Blank______. Multiple choice question. business portfolio analysis customer value proposition mission statement marketing tactic

customer value proposition

A marketing Blank______ allows a manager to glance at a graph or table and make an informed decision whether to take action regarding organizational objectives. Multiple choice question. segment strategy dashboard plan

dashboard

Select all that apply Which two items are part of the implementation phase of the strategic marketing process? Multiple select question. comparing results with plans designing the marketing organization developing a SWOT analysis obtaining resources

designing the marketing organization obtaining resources

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is called Blank______. Multiple choice question. diversification analysis business portfolio analysis market share analysis situation analysis

diversification analysis

A technique that helps a firm search for growth opportunities from among current and new markets as well as current and new products is called Blank______. Multiple choice question. diversification analysis situation analysis market share analysis business portfolio analysis

diversification analysis

When marketers Blank______, they take into account the fact that customers are different, customers change, competitors change and react, and organizational resources are limited. Multiple choice question. conduct a SWOT analysis develop a competitive advantage create a firm's mission statement enter into the strategic marketing process

enter into the strategic marketing process

A market development strategy can be defined as selling ______. Multiple choice question. new products to international customers existing products to new customers new products to new customers new products to existing customers

existing products to new customers

True or false: The purpose of a marketing strategy is to maximize short-term profits. True false question. True False

false

At the Blank______ level, an organization's strategic direction becomes its most specific and focused. Multiple choice question. functional corporate top management director

functional

The marketing department, finance department, human resources department, and information systems department all operate at the Blank______ level of an organization. Multiple choice question. functional SBU corporate director

functional

Diversification analysis and business portfolio analysis help managers develop ________ strategies and make resource allocation decisions. Multiple choice question. measurement growth innovation efficiency

growth

Market penetration is a marketing strategy to ______. Multiple choice question. increase sales of current products in current markets sell new products to current markets sell current products to new markets develop new products and sell them in new markets

increase sales of current products in current markets

Market penetration is a marketing strategy to ______. Multiple choice question. sell new products to current markets increase sales of current products in current markets develop new products and sell them in new markets sell current products to new markets

increase sales of current products in current markets

In a SWOT analysis, strengths and weaknesses are ________, and opportunities and threats are ________. Multiple choice question. positive; negative known; unknown simple; complex internal; external

internal; external

Once an organization has established its foundation, it can set its direction in terms of the "business" it is in and Blank______. Multiple choice question. its specific goals the stakeholders it will pursue its market share its organizational culture

its specific goals

An organization sets its direction based on Blank______. (Select two answers) Multiple select question. its specific goals its organizational culture the business it is in its organizational strategies

its specific goals the business it is in

A market-product strategy that requires no change in the basic product but instead seeks new buyers is known as ______. Multiple choice question. diversification market penetration market development product development

market development

A market-product strategy that requires no change in the basic product nor the markets served is known as ______. Multiple choice question. diversification product development market development market penetration

market penetration

A market-product strategy that requires no change in the basic product nor the markets served is known as ______. Multiple choice question. diversification product development market penetration market development

market penetration

Aggregating prospective buyers into groups that have similar needs and will respond similarly to a marketing action is a process known as Blank______. Multiple choice question. SWOT analysis strategic marketing diversification market segmentation

market segmentation

Unilever offers its Dove brand of body wash to several groups: one geared toward women, one for men, and one for babies. By taking the overall market and dividing it into smaller, similar groups, Unilever is engaged in Blank______. Multiple choice question. a business portfolio analysis a situation analysis market segmentation a SWOT analysis

market segmentation

The ratio of sales revenue of a firm to the total sales revenue of all firms in the industry, including the firm itself is referred to as Blank______. Multiple choice question. market share return on investment profitability portfolio analysis

market share

In a large organization, the CMO oversees the Blank______ department. Multiple choice question. management mediation and labor relations manufacturing marketing

marketing

A Blank______ is a visual display of the essential information related to achieving a marketing objective. Multiple choice question. marketing mix positioning statement marketing dashboard marketing metric

marketing dashboard

Which step of the planning phase of the strategic marketing process involves developing a plan for how to satisfy customer needs, while the who and what aspects had been determined previously? Multiple choice question. goal setting marketing program evaluation situation analysis

marketing program

Organizational purpose serves as the basis for an organization's Blank______. (Select all that apply) Multiple select question. mission core values hierarchy culture

mission core values culture

The product development strategy involves marketing a ______ product or service to a ______ market for the organization. Multiple choice question. new; new new; current current; current current; new

new; current

A diversification strategy, one of four possible market-product strategies, introduces a ______ product to a ______ market. Multiple choice question. current; current new; current new; new current; new

new; new

A(n) Blank______ is a legal entity that consists of people who share a common mission. Multiple choice question. industry team organization institution

organization

A clear expression of a firm's Blank______ will detail why an organization exists, what problems it wishes to solve, and who it wants to be to every person it touches through its work. Multiple choice question. organizational culture target markets core values organizational purpose

organizational purpose

Step 1 of the planning phase in the strategic marketing process involves Blank______. Multiple choice question. creating a mission statement setting goals evaluating performance performing a situation analysis using SWOT

performing a situation analysis using SWOT

A marketing ________ is a road map for the marketing actions of an organization for a specific future time period. Multiple choice question. objective plan mix program

plan

Select all that apply What are the three phases of the strategic marketing process? Multiple select question. planning budgeting measurement implementation evaluation

planning implementation evaluation

The ________ is the difference between the projection of the path to reach a new sales revenue goal and the projection of the path of a plan already in place. Multiple choice question. planning gap marketing plan deviation effect strategic alignment

planning gap

The characteristics of a product that make it superior to competitive substitutes are called Blank______. Multiple choice question. touchpoints comparative advantage points core values points of difference

points of difference

In ______ analysis, management evaluates a firm's various products and businesses and then allocates resources according to the firm's best growth opportunities. Multiple choice question. portfolio operations diversification contingency

portfolio

The ______ strategy offers a new product or service to a firm's existing market. Multiple choice question. product development market development market penetration product expansion

product development

Select all that apply In searching for growth opportunities, organizations using diversification analysis consider both current and new options for which two items? Multiple select question. products portfolios metrics markets

products markets

Business portfolio analysis is a technique used to ______. Multiple choice question. diversify product lines as a means to increase revenue segment a market based on geographic variables evaluate the firm's strengths, weaknesses, opportunities and threats quantify performance measures and growth targets to analyze SBUs

quantify performance measures and growth targets to analyze SBUs.

Select all that apply What are the three key elements of a visionary organization? Multiple select question. motivate employees set a direction evaluate performance specify a foundation formulate strategies

set a direction specify a foundation formulate strategies

Select the three steps that make up the planning phase of the strategic marketing process. Multiple select question. situation analysis evaluation market-product focus activity implementation the marketing program

situation analysis market-product focus the marketing program

The purpose of a mission statement is to Blank______. Multiple choice question. state an organization's function in society detail how a firm can avoid risks enhance the value of a firm's products maximize profits and dividends

state an organization's function in society

A(n) Blank______ is a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers. Multiple choice question. market segment cross-functional team marketing department strategic business unit (SBU)

strategic business unit (SBU)

A large health products manufacturer has three distinct divisions: first aid products, oral care products, and foot care products. Each of these divisions has a specific strategy to target a specific market. These three divisions are referred to as Blank______. Multiple choice question. business firms strategic business units (SBUs) functional departments cross-functional teams

strategic business units (SBUs)

Developing the marketing mix and its budget are part of which step in the planning phase of the strategic marketing process? Multiple choice question. the marketing program goal setting market-product focus situational analysis

the marketing program

An organization uses Blank______ to allocate its marketing mix resources to reach its target markets. Multiple choice question. a business portfolio analysis market segmentation a marketing dashboard the strategic marketing process

the strategic marketing process

Downturns in economic conditions and intense competition are examples of potential ______ for firms. Multiple choice question. weaknesses threats opportunities strengths

threats

True or false: An organization's core values typically do not change much over time. True false question. True False

true

Select all that apply Which two of the following are components of a SWOT analysis? Multiple select question. segmentation weaknesses target markets opportunities

weaknesses opportunities