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Exam 2: Developing Successful Organizational and Marketing Strategies

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Question 131

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

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

F) C) and E)
G) B) and D)

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Question 132

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Today's visionary organization uses three key elements to specify its foundation, __________, and formulate strategies.

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

F) B) and D)
G) B) and C)

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Question 133

Multiple Choice

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The third and final phase of the strategic marketing process is the

__________ starts new ventures that address important social needs and issues. These new enterprises are often organized as nonprofit organizations.

Core values refer to

At the functional level, the organization's strategic direction becomes

Ben & Jerry's is an ice cream producer owned by Unilever. Ben & Jerry's prestigious well-known brand name, and the fact that it complements Unilever's other ice cream brands, allows the firm to find specific efficiencies in distribution with its parent company's existing brands. A SWOT analysis for Ben & Jerry's would indicate its brand name and distribution efficiencies are __________ for the firm.

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

A technique that managers use to categorize strategic business units as question marks, stars, cash cows, or dogs is referred to as

The actions taken during the evaluation phase of the strategic marketing process include (1) __________ and (2) correct negative deviations and exploit positive ones.

The internal-favorable quadrant represents __________ in a SWOT analysis.

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects

Most firms seek to maximize their long-run __________, achieving as high a financial return on their investments as possible.

In the 1980s, a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's share of the U.S. super heavyweight market segment-motorcycles with engine capacity of 850 cubic centimeters or more-had shrunk from over 40 percent in the mid-1970s to 23 percent in 1983. But by 1989, Harley-Davidson controlled some 65 percent of this market segment. From a marketing perspective, what was the most likely first step in Harley-Davidson's resurgence?

What are the marketing mix elements that make up a cohesive marketing program?

In the 20^th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the __________ business.

The __________ element of the marketing mix includes discounts and allowances.

Toyota had some difficulty recovering from a recall crisis several years ago when it was forced to recall about 6 million vehicles due to a variety of problems, most notably one with the accelerator pedal. To "polish" its brand, it implemented stricter __________ goals to improve the safety and reliability of its vehicles.

A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits (consisting of food bars, a water filtration system, first aid supplies, etc.) . Before going ahead with this decision, several factors had to be considered: (1) The firm has a great reputation with its flashlights and does not want to ruin it. (2) Its physical plant could be refitted relatively easily to make small generators, but it would be rather costly. (3) It would have to rely on another firm to manufacture and package the survival kits. (4) Although there are nine named hurricanes anticipated for the upcoming year, no one really can predict what will happen. The company's reputation would fall in which quadrant(s) of the SWOT analysis grid?

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 __________ goal.