Question 1

The marketing plan for IBM's "Let's Put Smart to Work " strategy includes which of the following marketing tactics?
A) handing out "Let's Put Smart to Work" T-shirts on select college campuses throughout the world
B) providing samples of new hard drives to Fortune 500 businesses
C) advertising in Outdoor magazine
D) including a strong message in an annual report from IBM's chairman of the board and CEO
E) garnering a celebrity endorsement from Trevor Noah, the host of "The Daily Show"

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Question 2

Describe the three strategic levels in an organization.

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Question 3

Identify and explain each of the four market-product strategies represented by each quadrant in the diversification analysis matrix.

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Question 4

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

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Question 5

In 25 words or less, write a mission statement for a local community college.

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Question 6

Marketing professionals at IBM use which word to describe their marketing practices and methodologies?
A) honest
B) innovative
C) customized
D) relevant
E) agile

Accepted Answer

IBM marketing professionals use the word "agile" to describe their marketing practices and methodologies. This refers to their ability to quickly and efficiently adapt to changes in the market and customer needs.

Question 7

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

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Question 8

Apple, a multimarket, multiproduct firm, manufactures and markets Apple Watch, iPods, iPhones, and iPads as a portfolio of businesses. At what organizational level does Apple set the strategic direction for these businesses to create customer value?

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Question 9

Briefly describe the four levels in a hierarchical organizational structure, including the three that are strategic in nature.

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Question 10

What is an organization's mission? What are some elements of a well-written mission statement?

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Question 11

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

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Question 12

The American railroad industry faced a serious decline in the 20th century. What business did rail executives believe they were in at that time? What business is a railroad company really in? Why is the difference important?

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Question 13

List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.

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Question 14

The Boston Consulting Group's business portfolio analysis model can be used to analyze a firm's strategic business units. How is it used and what can it tell you?

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Question 15

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?

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Question 16

Name and briefly describe the seven types of organizational goals or objectives.

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Question 17

One of the most recognized approaches to business portfolio analysis is the Boston Consulting Group's growth-share matrix. Describe this tool and the four quadrants of the matrix.

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Question 18

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.

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The answer of The logistics industry has sales of $800...

Question 19

All of the following are important branded offerings that will meet IBM's customer needs into the future except which?
A) artificial intelligence capable of analyzing company and consumer data
B) industry-specific consulting services
C) entertainment-focused PCs and hard disk drives
D) enterprise-strength cloud capabilities
E) advanced cyber security

Accepted Answer

Entertainment-focused PCs and hard disk drives may not be as important in meeting IBM's customer needs in the future compared to the other options listed.

Question 20

Define marketing dashboard and marketing metric and explain how these terms are related.

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Quiz 2: Developing Successful Organizational and Marketing Strategies

The marketing plan for IBM's "Let's Put Smart to Work " strategy includes which of the following marketing tactics?