Question 1

Ben & Jerry's Marketing Dashboard (Dollar Sales and Market Share) Consider the Ben & Jerry's Dollar Sales and Market Share figure here.
- A marketing manager for Ben & Jerry's notices that dollar market share for 2018 was 18.4 percent and for 2019 it was 20.0 percent. What simple formula was used to calculate the dollar market share percentages for each of these two years?

Accepted Answer

A)   Dollar market share (%)  = Ben & Jerry's sales ($) /Total industry sales, including Ben & Jerry's sales ($) .
B)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's sales ($) .
C)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's unit sales ($) .
D)   Dollar market share (%)  = Total industry sales, including Ben & Jerry's sales ($) /Ben & Jerry's net profit ($) .
E)   Dollar market share (%)  = Ben & Jerry's sales ($) /Gross domestic product ($) .F) A) and B)
G) A) and C)

Question 2

Teach for America is an example of

Accepted Answer

A)   an entrepreneurial business firm.
B)   a government agency.
C)   a nonprofit organization.
D)   a public value agency.
E)   a 501(c) (3)  for-profit organization.F) A) and B)
G) C) and E)

Question 3

In marketing, an offering refers to

Accepted Answer

A)   the formal designation of a publicly traded stock for a specific product, service, or idea.
B)   a form of currency used by buyer and seller to minimize the tax burden for both parties.
C)   a good, service, or idea that creates value for both the organization and its customers by satisfying their needs and wants.
D)   the manufacturer's suggested retail price of a product or service to the general public or the wholesale price to distributors and retailers.
E)   the service suppliers and distributors provide to help manufacturers bring a product to market.F) A) and D)
G) A) and E)

Question 4

Ben & Jerry's has earned B-Corp certification, which means it has

Accepted Answer

A)   reached the goal of generating enough revenue to be a completely nonprofit organization.
B)   a sustainable financial basis of profitable growth, increasing value for stakeholders and expanding opportunities for development and career growth for employees.
C)   the goal of making profits for selected charitable organizations such as Fair Trade.
D)   been recognized for its efforts to solve social and environmental problems.
E)   been instrumental in expanding into international markets by creating dairies for developing nations.F) A) and C)
G) A) and D)

Question 5

Explain the difference between competencies and competitive advantage in an organizational setting.

Accepted Answer

An organization's core competencies are ...

Question 6

Explain what a visionary organization is and the three questions (why, what, and how) that need to be answered to achieve success.

Accepted Answer

Management experts stress that to be suc...

Question 7

According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they

Accepted Answer

A)   had less flexible routes than trucking.
B)   defined their business too narrowly.
C)   tried to create a business that appealed equally to all people.
D)   priced their services too high.
E)   were simply an outmoded form of transportation.F) All of the above
G) C) and D)

Question 8

"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the ________ for the online dating service that focuses on setting up actual activities as dates for its users.

Accepted Answer

A)   sustainability doctrine
B)   core benefit proposition
C)   corporate philosophy
D)   mission statement
E)   code of ethicsF) B) and E)
G) A) and D)

Question 9

A for-profit organization refers to

Accepted Answer

A)   a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.
B)   a legal entity engaged in business activities solely with the intent of serving its employees without the intent of making a profit.
C)   a privately owned organization that serves its customers to make money so that it can survive.
D)   a group of people united through contractual or corporate ownership.
E)   a publicly owned organization that serves the general population.F) B) and D)
G) None of the above

Question 10

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Accepted Answer

Management experts stress that to be suc...

Question 11

Organizations can be divided into three types:

Accepted Answer

A)   company, nonprofit, and cooperative.
B)   corporation, employee-owned, and interest.
C)   for-profit, nonprofit, and government.
D)   employee, distributor, and customer.
E)   public, private, and international.F) B) and D)
G) A) and D)

Question 12

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Accepted Answer

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

Question 13

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Accepted Answer

A)   customer value proposition
B)   protocol
C)   mission statement
D)   core values
E)   marketing programF) B) and E)
G) B) and C)

Question 14

Steep markdowns at a retail store for end-of-year sales are likely to help with which goal, rather than a profit one?

Accepted Answer

A)   Social responsibility
B)   Sales
C)   Market share
D)   Customer satisfaction
E)   SurvivalF) C) and E)
G) A) and B)

Question 15

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do things that humans cannot do alone is known as

Accepted Answer

A)   "The IBM Way."
B)   "Let's Put Smart to Work."
C)   "Reinvent Business."
D)   "The 2020 Road Map."
E)   "Big Blue."F) A) and B)
G) B) and D)

Question 16

The organizational ________ answers the question, "What will it do?"

Accepted Answer

A)   foundation
B)   direction
C)   culture
D)   strategy
E)   missionF) A) and B)
G) A) and C)

Question 17

An organization's mission refers to

Accepted Answer

A)   the target goal it sets for current profits based on enacting a comprehensive strategic plan.
B)   the target objective it projects for future market share based on enacting a comprehensive strategic plan.
C)   the fundamental, passionate, and enduring principles that guide its conduct over time.
D)   specific strategies and tactics that will be used to counteract any competitor's advantages.
E)   a statement of the organization's functions in society that often identifies its customers, markets, products, and technologies.F) A) and D)
G) B) and C)

Question 18

A key role of the marketing department is to "look outward." This is accomplished by

Accepted Answer

A)   allocating financial resources across strategic business units.
B)   communicating the vision of the marketing department forcefully enough to be incorporated into the overall mission of the company.
C)   forming cross-functional teams to help solve the organization's marketing problems.
D)   implementing new accounting regulations passed by legislators.
E)   listening to customers in order to inform decisions for developing and producing offerings.F) C) and E)
G) A) and E)

Question 19

A firm's ________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Accepted Answer

A)   core values
B)   strategic goals
C)   offerings
D)   corporate culture
E)   corporate ethosF) A) and B)
G) A) and E)

Question 20

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Accepted Answer

A)   dogs.
B)   cash cows.
C)   question marks.
D)   stars.
E)   elephants.F) C) and D)
G) A) and E)

Exam 2: Developing Successful Organizational and Marketing Strategies

Explain the difference between competencies and competitive advantage in an organizational setting.

Correct Answer
verified
An organization's core competencies are ...
View Answer

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct Answer
verified

Ben & Jerry's has earned B-Corp certification, which means it has

Correct Answer
verified

Steep markdowns at a retail store for end-of-year sales are likely to help with which goal, rather than a profit one?

Correct Answer
verified

Explain what a visionary organization is and the three questions (why, what, and how) that need to be answered to achieve success.

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Organizations can be divided into three types:

Correct Answer
verified

A firm's ________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Correct Answer
verified

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do things that humans cannot do alone is known as

Correct Answer
verified

An organization's mission refers to

Correct Answer
verified

Teach for America is an example of

Correct Answer
verified

In marketing, an offering refers to

Correct Answer
verified

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Correct Answer
verified

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Correct Answer
verified
Management experts stress that to be suc...
View Answer

The organizational ________ answers the question, "What will it do?"

Correct Answer
verified

Correct Answer
verified

A for-profit organization refers to

Correct Answer
verified

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct Answer
verified

"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the ________ for the online dating service that focuses on setting up actual activities as dates for its users.

Correct Answer
verified

According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they

Correct Answer
verified

A key role of the marketing department is to "look outward." This is accomplished by

Correct Answer
verified

Exam 2: Developing Successful Organizational and Marketing Strategies

Explain the difference between competencies and competitive advantage in an organizational setting.

Correct AnswerverifiedAn organization's core competencies are ...View AnswerShow Answer

In recent years, many large firms have changed the title of the head of marketing from vice president of marketing to

Correct AnswerverifiedShow Answer

Ben & Jerry's has earned B-Corp certification, which means it has

Correct AnswerverifiedShow Answer

Steep markdowns at a retail store for end-of-year sales are likely to help with which goal, rather than a profit one?

Correct AnswerverifiedShow Answer

Explain what a visionary organization is and the three questions (why, what, and how) that need to be answered to achieve success.

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

Organizations can be divided into three types:

Correct AnswerverifiedShow Answer

A firm's ________ are timeless, capturing its heart and soul, and serve to inspire and motivate its stakeholders.

Correct AnswerverifiedShow Answer

IBM's business strategy to help its clients prepare for a world that is infused with digital intelligence and a world where humans and machines work side-by-side to do things that humans cannot do alone is known as

Correct AnswerverifiedShow Answer

An organization's mission refers to

Correct AnswerverifiedShow Answer

Teach for America is an example of

Correct AnswerverifiedShow Answer

In marketing, an offering refers to

Correct AnswerverifiedShow Answer

Strategic business units with a low share of high-growth markets that may require large cash injections of cash just to maintain market share are referred to as

Correct AnswerverifiedShow Answer

What are the three elements that today's visionary organization must do to be forward looking and successful within its marketing environment? What is the purpose of each of these elements?

Correct AnswerverifiedManagement experts stress that to be suc...View AnswerShow Answer

The organizational ________ answers the question, "What will it do?"

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A for-profit organization refers to

Correct AnswerverifiedShow Answer

Michelin's ________ can be summed up as "providing safety-conscious parents greater security in tires at a premium price."

Correct AnswerverifiedShow Answer

"HowAboutWe is the fastest, easiest, most fun way to go on awesome dates" is the ________ for the online dating service that focuses on setting up actual activities as dates for its users.

Correct AnswerverifiedShow Answer

According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they

Correct AnswerverifiedShow Answer

A key role of the marketing department is to "look outward." This is accomplished by

Correct AnswerverifiedShow Answer

Correct Answer
verified
An organization's core competencies are ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Management experts stress that to be suc...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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