Question 1

The founder of Starbucks,Howard Schultz,provides health care for all employees who work over 20 hours per week.He says "the companies that are doing the right thing by covering their employees [with health care coverage] are paying for the companies who don't do the right thing." This is an example of one of Starbucks' __________ goals.

Accepted Answer

Howard Schultz's statement about providing health care for employees highlights Starbucks' focus on employee welfare as a goal. This goal involves providing benefits and a positive work environment for employees, rather than solely focusing on profits, market share, customer satisfaction, or sales.

Question 2

American Express has a long history of working for the good of all in its New York community.In 1885,it engaged its employees to help raise money to build the pedestal of the Statue of Liberty,and today has a program to help restore,preserve and revitalize historic sites in New York City.These actions by American Express are partial fulfillment of the __________ the firm has established for itself as a corporate citizen.

Accepted Answer

The actions taken by American Express to raise money for the Statue of Liberty and to help restore/preserve historic sites in New York City demonstrate the company's commitment to social responsibility goals. This shows that they see themselves as a corporate citizen and have a responsibility to their community.

Question 3

Motorola invented the Six Sigma program that sets as a goal no more than one defect in one million parts manufactured.This is an example of a(n)__________ goal.

Accepted Answer

The Six Sigma program created by Motorola sets a goal for quality, specifically in achieving no more than one defect in one million parts manufactured.

Question 4

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

Accepted Answer

The answer of Business firms pursue several different types of...

Question 5

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 a __________ goal.

Accepted Answer

A goal to reduce merchandise returns is directly related to customer satisfaction. Therefore, the most likely goal that L.L.Bean has set is customer satisfaction.

Question 6

A measure of the quantitative value or trend of a marketing activity or result is referred to as

Accepted Answer

A marketing metric is a quantifiable measure used to assess and evaluate marketing performance. It provides insight into the success of marketing campaigns and helps businesses to make informed decisions. Examples of marketing metrics include website traffic, conversion rates, customer acquisition costs, and social media engagement.

Question 7

Business firms pursue several different types of goals.A(n)__________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.

Accepted Answer

Social responsibility is a goal that focuses on promoting the overall welfare of all stakeholders, including customers, employees, shareholders, and society as a whole. This goal may require firms to make decisions that prioritize social and environmental concerns over maximizing profits. By pursuing social responsibility, firms can build long-term relationships with stakeholders and improve their reputation, which can ultimately lead to greater profitability in the long run.

Question 8

Which of the following statements regarding a marketing dashboard is most accurate?

Accepted Answer

A marketing dashboard provides graphic displays of a product category's performance, such as sales, website traffic, etc. It typically displays key metrics in a simple visual format, allowing the marketer to quickly monitor and track performance. Options A, B, D, and E are inaccurate statements about a marketing dashboard.

Question 9

Many universities and other educational institutions provide retirement benefits by doubling the percentage an employee pays into her/his retirement account up to a certain percentage of her or his pay.This provides a wonderful benefit to those who are full-time employees.This is an example of a(n)__________ goal.

Accepted Answer

The fact that the university is providing retirement benefits that double the percentage an employee pays into her/his retirement account up to a certain percentage of her or his pay shows that the institution is prioritizing the welfare of its employees. This aligns with the concept of employee welfare as a goal.

Question 10

The number one consumer complaint about bananas is how soon they start getting brown spots.Dole MOST LIKELY set a(n)__________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm)to make a creamy,guilt-free dessert.

Accepted Answer

Dole's goal with promoting the use of overripe bananas in Yonanas machine is to address the number one consumer complaint about bananas - brown spots - and improve customer satisfaction.

Question 11

With a marketing dashboard,a marketing manager can glance at all of the following EXCEPT:

Accepted Answer

A marketing dashboard typically presents data in the form of graphs, tables, charts, and maps, but it does not typically include a printed report. The time frame for which the data are presented is usually indicated on the dashboard.

Question 12

The organizational foundation sets the "__________" of organizations; the organization direction sets the "__________;" and organizational strategies are concerned with the "__________."

Accepted Answer

The organizational foundation includes elements such as mission, values, culture, and structure, which set the "why" of organizations. The organization direction includes elements such as vision and goals, which set the "what" of organizations. Organizational strategies are concerned with the "how" of organizations, specifically how they will achieve their goals and fulfill their mission. Therefore, option B is the best choice.

Question 13

Customers' perceptions are of vital important to an organization.Customer __________ can be measured with surveys or by the number of customer complaints an organization receives.

Accepted Answer

Customers' perceptions are closely tied to their level of satisfaction with the organization and its products/services. This can be measured through surveys asking the customers directly about their level of satisfaction or indirectly by tracking the number of complaints received from unhappy customers. Choice A, satisfaction, best fits this description.

Question 14

Hasbro is a $4.3 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)

Accepted Answer

Hasbro's focus on donating to organizations that help children aligns with a social responsibility goal, which involves a company's desire to make a positive impact on society and improve the well-being of its stakeholders beyond just making a profit.

Question 15

A marketing metric refers to

Accepted Answer

A marketing metric is a measurement of the quantitative value or trend of a marketing activity or result. It is a specific number or fact that allows marketers to evaluate the effectiveness of their campaigns and make data-driven decisions. Examples of marketing metrics include conversion rate, click-through rate, customer acquisition cost, and return on investment (ROI).

Question 16

When a firm recognizes the critical importance of its employees by attempting to provide good conditions and opportunities,it sets an employee __________ goal.

Accepted Answer

The answer of When a firm recognizes the critical importance...

Question 17

A marketing dashboard refers to

Accepted Answer

The answer of A marketing dashboard refers to
...

Question 18

__________ is the visual computer display of the essential information related to achieving a marketing objective.

Accepted Answer

A marketing dashboard is a visual display that provides essential information related to achieving a marketing objective. It typically includes key performance indicators (KPIs) such as website traffic, social media engagement, leads generated, and sales revenue. A dashboard allows marketers to quickly analyze data and make informed decisions to improve their performance.

Question 19

Lands' End ships each order within 48 hours and its guarantee is the best in the world,as exemplified by its tagline "Guaranteed.Period." These marketing actions by Lands' End MOST LIKELY reflect its __________ goals.

Accepted Answer

Lands' End's commitment to shipping orders quickly and offering the best guarantee in the world is focused on ensuring customer satisfaction. This goal is evident in the tagline "Guaranteed.Period."

Question 20

Organizational strategies vary in two ways,depending on

Accepted Answer

The answer of Organizational strategies vary in two ways,depending on
...

Quiz 2: Developing Successful Marketing and Organizational Strategies

Motorola invented the Six Sigma program that sets as a goal no more than one defect in one million parts manufactured.This is an example of a(n) __________ goal.

Business firms pursue several different types of goals.When a firm recognizes the critical importance of its employees,this is an __________ goal.

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 a __________ goal.

A measure of the quantitative value or trend of a marketing activity or result is referred to as

Business firms pursue several different types of goals.A(n) __________ goal may be set to balance the conflicting goals of stakeholders to promote their overall welfare,even at the expense of profits.