Marketing

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Anonymous
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105122
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Marketing
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2011-09-29 01:48:00
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Marketing Chapter
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Marketing Chapter 2
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  1. Which of the following statements regarding Ben & Jerry's is most accurate?
    Ben & Jerry's is now owned by Unilever, the market leader in the global ice cream industry.
  2. In marketing, an offering refers to
    a product, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.
  3. A(n) __________ is a legal entity of people who share a common mission.
    organization
  4. The reward to a business firm for the risk it undertakes in marketing its offerings is referred to as
    profit
  5. Profit refers to
    the money left over after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings
  6. A nongovernmental organization that serves its customers but does not have profit as an organizational goal is referred to as a
    nonprofit organization.
  7. Which statement best describes the most significant difference between a business firm and a nonprofit organization?
    Both serve customers, but business firms seek a profit while nonprofit organizations do not.
  8. An example of a nonprofit organization is
    the American Red Cross.
  9. The United Nations report defines sustainable development as:
    meeting present needs without compromising the ability of future generations to meet their own needs
  10. Corporate executives and world leaders are increasingly asked to address the issue of __________, a term that refers to meeting present needs "without compromising the ability of future generations to meet their own needs."
    sustainable development
  11. Bill 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.
    corporate
  12. The level in an organization where top management directs overall strategy for the entire organization is referred to as the
    corporate level.
  13. In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to
    chief marketing officer.
  14. A subsidiary, division, or unit of an organization that directs overall strategy for the organization that markets a set of related products to a clearly defined group of customers is referred to as a(n)
    strategic business unit.
  15. Functional level refers to the
    level in an organization where groups of specialists actually create value for the organization
  16. In simple terms, the types of question that would be addressed through organizational foundation, organizational direction, and organizational strategies respectively, would be
    why, what, how.
  17. A small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals are referred to as a
    cross-functional team.
  18. When developing marketing programs for new offerings, marketing may provide staff to serve as part of a(n) __________ of specialists from all the functional units who are mutually accountable to a common set of performance goals.
    cross-functional team
  19. Which of the following statements would most likely be heard at the functional level of an organization?
    "Make sure we buy 15 seconds of air time for this coming Super Bowl."
  20. An organization's __________ are the fundamental, passionate, and enduring principles that guide its conduct over time.
    core values
  21. A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its
    organizational culture.
  22. In terms of an organization's business, railroads may have lost market share in the 20th century because they
    defined their business too narrowly.
  23. Statements of an accomplishment of a task to be achieved, often by a specific time are referred to as __________.
    goals
  24. The primary purpose of a marketing metric is to
    measure the quantitative value of a marketing activity.
  25. Mobile phone companies broke the age-old business rule of staying within their __________ by going beyond their expertise in running networks and billing subscribers to designing handsets. Nokia, on the other hand, boosted its success in handsets in large part by staying focused on what it does best: manufacturing handsets and watching carefully for the latest consumer trends.
    competency
  26. 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 __________.
    cash cows
  27. In its business portfolio analysis, an organization's SBUs often start as __________ and then become __________.
    question marks; stars
  28. SBUs found in quadrant "A" (Figure 2-4) would be called
    stars.
  29. SBUs found in quadrant "D" (Figure 2-4) would be called
    dogs.
  30. One of the strengths inherent in the use of the BCG portfolio analysis is the fact that it
    forces firms to assess their SBUs in terms of relative market share and industry growth rate.
  31. The key steps of planning, implementation, and evaluation are part of what is referred to as
    the strategic marketing process.
  32. The marketing strategy to increase sales of current product in existing markets is referred to as
    market penetration.
  33. The marketing strategy to sell existing products to new markets is referred to as
    market development
  34. Product development refers to the strategy of
    selling new products to existing markets.
  35. Diversification refers to the strategy of
    selling new products to new markets.
  36. Two major ways for a company to benefit from taking a market penetration approach would be
    sell more product at the same price or sell the same amount of product at a higher price.
  37. If Ben & Jerry's starts selling their ice cream in Brazil for the first time, they will be using a __________ strategy.
    market development
  38. What are the steps involved in the planning phase of the strategic marketing process?
    Situation (SWOT) analysis; market-product focus and goal setting; and marketing program development
  39. Step one in the planning phase of the strategic marketing process is
    the situation analysis.
  40. The first step in the strategic marketing process is
    situation analysis.

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