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Exam 2: Developing Successful Organizational and Marketing Strategies

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Question 191

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What are the four components of the implementation phase of the strategic marketing process?

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The four components of the implementatio...

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Question 192

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An organization's mission refers to

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 identifies its customers,markets,products,and technologies.

F) A) and B)
G) All of the above

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Question 193

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An organization's foundation includes which of the following?

Hasbro is a $4-plus billion toy company that prides itself on donating to organizations that help children,since they and their parents comprise the target market for its business.This is an example of a(n)

Quadrant "D" in Figure 2-5 above represents the marketing strategy of __________.

Cree markets LED (light-emitting diode) light bulbs (see the photo above) that replaces the traditional incandescent bulb.The Cree LED 60w bulb is 84 percent more energy efficient,lasts for 25,000 hours,and initially sold for about $12 at Home Depot.Cree is an example of a(n) __________.

An action item list refers to an aid to implement a marketing plan that consists of four columns: (1) the task; (2) the person responsible for completing that task; (3) __________;and (4) what is to be delivered.

The marketing program-step 3 in the strategic planning process-answers which question?

The logistics industry has sales of $800 billion per year.If a third party logistics provider had sales of $8 billion,what would its market share be? Be sure to define market share and show your work in your answer.

Consider Figure 2-7 above.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,there were several factors that had to be taken into consideration: (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?

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

__________ convert an organization's mission and business into long- and short-term performance targets.

Medtronic is the world leader in producing heart pacemakers and other medical devices.Earl Bakken,Medtronic's founder,wrote its mission statement when he launched the firm over a half century ago.Summarize Medtronic's mission statement and comment as to why it is a good one.

Consider the photo above of Apple's iPhone 5C.Apple launched its revolutionary iPhone in 2007,the first smartphone that used a multi-touch user interface.iPhone unit sales skyrocketed.Recently,smartphone sales have slowed as the industry moves into the maturity stage of its product life cycle.But Apple's sales have remained strong.By 2017,the smartphone market is expected to grow at a compound annual rate of 13 percent due to dropping average smartphone prices.Apple's iPhone had a 15 percent share of the global smartphone market in 2013-second to Samsung,whose share was 41 percent.Apple's iPod SBU appears to be a __________.

What is a cross-functional team and how is it used?

In the context of organizational direction,a business refers to

The goal of a SWOT analysis is to

Which of the following is NOT an example of an industry?

In Figure 2-1 above,"C" represents the

Overseeing strategic marketing efforts at the corporate level would most likely be the responsibility of the __________.