Deck 2: Developing Successful Marketing Strategies

Question 1

Figure: 2-1
In Figure 2-1,"D" represents the

A)business-unit strategy level.
B)functional-level strategy level.
C)corporate-level strategy level.
D)Board of Directors.

Answer 1

B

Question 2

Canadian Tire is a Canadian success story.Canadian Tire employs more than 70,000 Canadians and has revenues of close to _______ annually.

A)$5 billion
B)$7.5 billion
C)$6 billion
D)$10 billion

Answer 2

D

Question 3

George's Computer Repairs is focused on earning money for its owners,while Plan Canada is focused on solving community issues overseas and is not concerned about earning a profit.The contrast between these two is:

A)George's Computer Repairs is considered a business, while Plan Canada is considered a nonprofit organization
B)George's Computer Repairs is a shareholder company, while Plan Canada is a for profit company
C)George's Computer Repairs is a nonprofit, while Plan Canada is a for profit company
D)Both serve customers, so there is no contrast between the two

Answer 3

A

Question 4

Telus' goal in offering a specific phone that is not offered by any of the other mobile phone carriers in Canada is focused on achieving a long term advantage to deliver a unique customer experience.This is known as:

A)corporate planning.
B)market development.
C)strategy.
D)customer relationship management.

Question 5

Large organizations can be extremely complex.They usually consist of _______ organizational level(s)whose strategy is linked to marketing:

A)two.
B)four.
C)five.
D)three.

Question 6

Ford,GM,and Toyota,all develop automobiles.This group create a(n):

A)product market.
B)conglomerate.
C)industry.
D)cartel.

Question 7

The 'Alternative Energy Group' of GE likely has which focus:

A)directs overall strategy for the organization.
B)markets a set of related products to a clearly defined group of customers.
C)has marketing and other specialized activities.
D)also has a comparable non-business unit.

Question 8

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

A)business-unit strategy level.
B)Board of Directors.
C)corporate-level strategy level.
D)functional-level strategy level.

Question 9

Which new initiatives demonstrate an understanding of the direction of Canadian Tire of: "creating customers for life and shareholder value," by the marketing department?

A)mobile application
B)"Canadiana" products
C)only using Made-In-Canada products
D)using a CRM tool

Question 10

Plan Canada,a nongovernmental organization that serves its customers but does not have profit as an organizational goal is considered a

A)business firm
B)nonprofit organization
C)government agency
D)public university

Question 11

Telus offers several mobile phone plans,which of the following best describes what constitutes their potential offerings?

A)products and services.
B)products, services, ideas and experiences.
C)physical goods and services.
D)products only.

Question 12

Figure: 2-1
In Figure 2-1,"B" represents the

A)functional-level strategy level.
B)Board of Directors.
C)corporate-level strategy level.
D)departments.

Question 13

Which of the following is NOT one of Canadian Tire's core businesses?

A)Canadian Tire Retail.
B)Canadian Tire Travel Services.
C)PartSource.
D)Canadian Tire Financial Services.

Question 14

A legal entity of people who share a common mission is referred to as a(n):

A)special interest group.
B)organization.
C)lobby group.
D)industry.

Question 15

In today's global competition,it is important to recognize the kinds of organizations that exist.Organizations can basically be divided into two categories:

A)privately owned and publically owned.
B)regulated and unregulated.
C)domestic and multi-national.
D)business and non-profit.

Question 16

Figure: 2-1
In Figure 2-1,"A" represents the:

A)functional-level strategy level.
B)Board of Directors.
C)corporate-level strategy level.
D)CEO.

Question 17

While undertaking risk to offer the iPhone,Apple Computers is rewarded by receiving the following reward:

A)Shareholders' equity
B)Profit
C)Inventory turnover
D)Contribution margin

Question 18

At Apple Computers,the financial department considers the profit earned at the end of the day as:

A)the point at which company assets equal company liabilities.
B)the money left over after a firm's total expenses are subtracted from its total revenues.
C)the goodwill earned from implementing the societal marketing concept.
D)the money earned as long as the economic order quantity is maintaineD.Key term definition - profit

Question 19

John's Auto Wreckers is a privately owned organization that serves its customers in order to earn a profit is called a:

A)business firm.
B)nonprofit organization.
C)community action program.
D)manufacturing agent.

Question 20

Figure: 2-1
In Figure 2-1,"E" represents

A)Board of Directors.
B)corporate-level strategy level.
C)departments.
D)functional-level strategy level.

Question 21

Which of the following statements would most likely be heard at the functional level of an organization?

A)"We need to be aware of what our competitors are doing."
B)"How much money can we allot to the marketing department?"
C)"Make sure we buy 15 seconds of air time for this coming Super Bowl."
D)"We should hire the most culturally diverse team possible in order to get the best new ideas."

Question 22

In a large corporation with multiple business units,the marketing department may be called upon to:

A)allocate financial resources across business units.
B)set the overall mission of the company.
C)allocate shareholder dividends through a large financial institution.
D)assist managers at higher levels to assess environmental trends or aid in their strategic planning efforts.

Question 23

In a new marketing role,your manager says: "You will be responsible for five SBUs." You give a puzzled look before remembering that SBU stands for:

A)strategic business unit.
B)standard business unit.
C)strategic benefit of usage.
D)service business unit.

Question 24

In the marketing department of Pepsi,the entry-level staff,such as Business Analysts,are responsible for doing most of the organization's work.Their level in the organization is known as?

A)strategic
B)product
C)functional
D)business unit

Question 25

The overall strategy for the entire organization is decided at which level in a complex organization.

A)functional
B)board
C)corporate
D)tactical

Question 26

Determining the target market and designing marketing programs to reach this target market is a specialized marketing function.This is accomplished by the marketing:

A)team.
B)group.
C)partnership.
D)department.

Question 27

Business unit managers at Bell Canada decide on the direction for their residential products and markets every six months.This decision making occurs at which unit level in the organization.

A)strategic business unit
B)corporate level
C)board of directors
D)functional unit level

Question 28

Specialists from all the functional units who analyze,implement,and control programs to accomplish the corporate and business strategic directions usually serve as members to a:

A)department
B)system
C)organization
D)team

Question 29

For less complex firms with a single business focus,which two organizational levels may merge?

A)corporate-level and business unit-level.
B)corporate-level and strategic business unit-level.
C)strategic business-unit level and functional-level.
D)marketing and research and development.

Question 30

Craig Conway is CEO of a software design company named PeopleSoft,a company that has automated many human resource functions such as tracking vacation time.Conway operates at the _____ level of his organization.

A)business unit
B)functional
C)corporate
D)strategic

Question 31

Research Development Manager,Marketing Manager,and Audit Manager are specialist roles likely found at which business unit level?

A)top management
B)business unit
C)functional
D)corporate

Question 32

Sometimes cross-functional teams will have representatives from outside the organization such as:

A)suppliers and customers.
B)consultants and retired CEOs.
C)opinion leaders.
D)competitors.

Question 33

In terms of an organization's vision,Kodak Eastman may have lost business because they:

A)are too slow and cumbersome.
B)defined their business too narrowly.
C)defined their business too broadly.
D)priced their services too high.

Question 34

The fundamental objective for the Marketing Manager and HR Manager is to:

A)create value for the organization
B)market products and hire people
C)sell products and fire people
D)manage their direct reports

Question 35

The marketing leadership group at Rogers Wireless that identifies value-creating opportunities is known as the:

A)strategic business unit level.
B)corporate unit level.
C)functional unit level.
D)board level.

Question 36

Which of the following statements regarding the strategic business unit level is most accurate?

A)The strategic business unit level is the level that works most directly with the targeted customers.
B)The overall strategy for the organization is directed at the strategic business unit level.
C)In more complex organizations the corporate level and the strategic business unit level may merge.
D)The strategic direction is more specific at the strategic business unit level than at the corporate level.

Question 37

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.

A)business unit
B)functional
C)corporate
D)strategic

Question 38

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

A)commercial executive officer.
B)chief marketing officer.
C)corporate marketing official.
D)corporate marketing officer.

Question 39

John is from the marketing department,Stephen is from the finance department,Jo is from the product department,and Janelle is from the customer service department.Together they are responsible for developing a new product to reach a company performance goal.These individuals are referred to as a(n):

A)inter-disciplinary group
B)matrix group
C)cross-functional team
D)multi-disciplinary team

Question 40

On the northern tip of Goose Island in the Chicago River sits the William Wrigley Jr.Company's Global Innovation Center.Here Wrigley can create new products-a joint effort by some 250 full-time food scientists,researchers,and marketers.The people who work in this center are most likely members of

A)cross-functional teams.
B)a business consortium.
C)multiple strategic directional teams.
D)strategic implementation teams.

Question 41

"To refresh the world/ To Inspire moments of optimism and happiness/ To create value and make a difference." This is an example of a(n):

A)benefit statement
B)business portfolio
C)functional philosophy
D)mission

Question 42

Which of the following statements about organizational goals is NOT true?

A)The terms goal and objective can be used interchangeably.
B)In an organization, goals exist at the corporate, business, and functional levels.
C)All lower-level goals should contribute to the achievement of higher-level goals.
D)Goals are clear, broad descriptions of an organization's offering(s).

Question 43

"Holiday Inn Burlington is dedicated to providing quality hospitality product and service.Although we try to anticipate guest concerns before they arise,we understand that every customer is an individual who requires special attention." This is a part of their _____ statement.

A)benefit statement
B)business portfolio
C)functional philosophy
D)mission

Question 44

All of the following are often contained in a company's mission statement except:

A)customers
B)markets
C)technology
D)beliefs

Question 45

One of the key differences between a vision statement and a mission statement is that the mission statement:

A)describes the profit goals
B)has an inspirational theme
C)has a long-term focus
D)describes the company's societal marketing concept

Question 46

Some corporations choose unit sales rather than sales revenue as an organizational goal.Sales revenues can be deceiving because of:

A)poor sales databases.
B)fluctuations in inventory.
C)unpredictable sales expenses.
D)inflation.

Question 47

Which of the following would NOT be an example of stakeholders for a television production company like John Wells Productions?

A)the actors that star in the television shows it produces
B)the people that provide the sets and the props used in the television shows it produces
C)the television critics that review the shows it produces
D)the electronics firms that make hi-definition televisions

Question 48

In terms of an organization's vision,railroads may have lost business because they:

A)are too slow and cumbersome.
B)defined their business too narrowly.
C)defined their business too broadly.
D)priced their services too high.

Question 49

Which of the following statements about stakeholders is true?

A)Employees are typically not classified as a stakeholder group.
B)There are only three types of external stakeholders - customers, suppliers, and distributors.
C)All stakeholders are external to the organization.
D)Stakeholders have a stake in how well a company performs.

Question 50

Figure: 2-2
In Figure 2-2,section "C" represents the "how" element of visionary organization.This is referred to as

A)organizational tactics.
B)organizational mission.
C)organizational foundation.
D)organizational direction.

Question 51

Railroads may have let other forms of transportation take business away from them because their definition included only the railroad business,rather than the broader definition of:

A)transportation.
B)aerospace.
C)entertainment.
D)retailing.

Question 52

Today's visionary organization uses key elements to (1)__________ and (2)set a direction using (3)its strategies that enable it to develop and market its offerings successfully.

A)set financial goals
B)establish a foundation
C)establish detailed marketing tactics
D)assign job responsibilities

Question 53

Medtronic,a world leader in heart pacemakers,is not in the medical device business but is in the business of: alleviating pain,restoring health,and extending life.This conscious effort of Medtronic defining their business shows they are paying attention to:

A)the marketing mix
B)corporate culture
C)how narrow or broad their business is
D)marketing strategy

Question 54

PeopleSoft designs,produces,and markets software that enables companies to automate basic human-resources functions such as payroll.At its inception,the company's leaders encouraged employees to get in touch with their feelings.The work environment was laid back,employees' dogs roamed the halls,and sunny days found employees playing Frisbee on the corporate lawns.This is known as:

A)corporate philosophy
B)environment
C)organizational culture
D)corporate profile

Question 55

Figure: 2-2
In Figure 2-2,section "A" represents the "why" element of visionary organization.This is referred to as

A)organizational tactics.
B)organizational mission.
C)organizational foundation.
D)organizational direction.

Question 56

Lululemon is known for having a youthful,energetic,health-focused,and sustainable system of shared attitudes and behaviours held by the employees that distinguish it from other organizations.This is known as their

A)corporate philosophy
B)benefits statement
C)culture
D)working environment

Question 57

Pepsi-Co set out a task to earn $10 million (CDN)in sales on their new Odwalla beverage,which was accomplished by the date they set.This is an example of a(n):

A)plans.
B)procedures.
C)bureaucracies.
D)goals or objectives.

Question 58

Figure: 2-2
In Figure 2-2,section "B" represents the "what" element of visionary organization.This is referred to as

A)organizational tactics.
B)organizational mission.
C)organizational foundation.
D)organizational direction.

Question 59

Kodak wanting to be the top seller of digital cameras by 2013 is an example of an organizational:

A)plan.
B)procedure.
C)bureaucracy.
D)goal or objective.

Question 60

All of the following are considered an organization's internal stakeholders except:

A)Employees.
B)Board Directors
C)Advisors to the CEO
D)Regulatory agencies

Question 61

Xbox video game consoles were developed through a joint venture between Microsoft and the WWF (World Wrestling Federation)and first marketed in the fall of 2001.Complaints about the video game began immediately after its introduction.These complaints ranged from missing parts to incorrect programming.It would seem obvious that the manufacturer of Xbox video game consoles should adopt _____ goals.

A)profit
B)sales revenue
C)market share
D)quality

Question 62

Pfizer Pharmaceuticals is offering low-income senior citizens some of its most widely used prescriptions for $15 each a month - much below the regular costs for these drugs.This program to better serve senior citizens likely grew out of a _____ goal.

A)profit
B)unit sales
C)sales revenue
D)social responsibility

Question 63

When Telus calculates their market share,they calculate the ratio of their sales revenue to the total sales revenue of all:

A)firms in the industry, including themselves
B)firms they directly compete against
C)firms they indirectly compete against
D)firms in the industry

Question 64

Market share is:

A)the ratio of the profit of the firm to the total profits of all firms in the industry, not including the firm itself.
B)the ratio of the profit of the firm to the total profits of all firms in the industry, including the firm itself.
C)the ratio of the sales revenue of the firm to the total sales revenue of all firms in the industry, not including the firm itself.
D)the ratio of the sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

Question 65

A firm that includes an ergonomic expert on staff,one that provides recommendations on chair choice to employees,is most likely concerned with:

A)satisfaction
B)sales revenue
C)employee productivity
D)employee welfare

Question 66

Brittany read on the second page of the stockholder's report for a manufacturer of automobile parts,"Our goal for the next five year period is to double our return on investment." She now knows the company has _____ goals.

A)profit
B)sales revenue
C)market share
D)unit sales

Question 67

The "Big Three" wireless carriers in Canada are constantly battling each other for customers,as a result,they frequently determine the ratio of the sales revenue of their firm to the total sales revenue of all firms in the industry,including the firm itself.The ratio they are calculating is known as:

A)sales quality.
B)market share.
C)industry potential.
D)contribution margin.

Question 68

Terence,a small business owner was explaining how he was planning for the upcoming holiday season,"We've got to maximize our dollars of sales because profits are adequate at the moment." From this statement,he is most concerned with _____ goals.

A)profit
B)sales revenue
C)market share
D)social responsibility

Question 69

Assuming all ethical and legal principles are followed,what might be the cause of a company having decreased sales revenue next year,even though they sell the same number of products as last year?

A)inaccurate accounting practices.
B)inflation.
C)incomplete cost projections.
D)inadequate sales forecasting.

Question 70

A nonprofit organization is a nongovernmental organization that does not have profit as an organizational goal.What other quality characterizes nonprofit organizations?

A)They make a great deal of money.
B)They need not be concerned with efficiency.
C)They are not concerned with quality as a rule.
D)They serve the public good

Question 71

CIBC is focused on earning a profit for employees and shareholders,while also giving back to the community through their CIBC Run For the Cure campaign,this balance of conflicting goals is referred to as.

A)return on investment
B)market share
C)sales revenue
D)social responsibility

Question 72

Facebook has a stated goal that they provide free,onsite day care for employee's children,and free,healthy lunches for employees.Facebook is concerned with:

A)return on investment
B)market share
C)employee welfare
D)sales revenue

Question 73

When the Federal Government places Carbon Tax Caps on oil sand producers in Alberta,they are trying to balance the profit goals of businesses with their _____ goals.

A)return on investment
B)market share
C)unit sales
D)social responsibility

Question 74

Telus accepts their current profit level and focuses on increasing their market share,even though profitability may not be maximized.They are attempting to do what:

A)abandon green marketing
B)decrease employee loyalty
C)maintain or increase sales
D)decrease social responsibility

Question 75

Pfizer Canada offering day-care facilities to its employees; and BC Biomedical offering flex-work opportunities illustrates what type of goals?

A)return on investment
B)market share
C)employee welfare
D)sales revenue

Question 76

Which aspect of a firm,assuming classic economic theory,are shareholders most concerned about?

A)profit
B)sales revenue
C)market share
D)quality

Question 77

Lenovo Computers implemented a new manufacturing strategy that reduced warranty calls by 20 percent.This is an example of setting a ________ goal.

A)customer satisfaction
B)employee welfare
C)market share
D)social responsibility

Question 78

Corporate executives and world leaders of each country need to find an ideal balance between protecting its environment and providing its citizens with the additional goods and services necessary to maintain and improve their standard of living.This demonstrates a concern for:

A)corporate culture
B)profit margin
C)strategic direction
D)sustainable development

Question 79

In a country like Zimbabwe,where inflation is a serious issue,such that,in the past,the country has experienced hyperinflation,a western company who opens an office in the country is likely to focus on which goal?

A)profits
B)unit sales
C)sales revenue
D)market share

Question 80

Bell Canada issued a statement to their shareholders that said: "sales revenue is our focus over the next five years." Shareholders created a petition because they felt their concerns were not being met.The main reason why shareholders were concerned was because Bell Canada implicitly said: "we will ____________"

A)increases sales levels and strives for a constant level of profits.
B)maintains sales levels and strives for maximum profitability.
C)maintains or increases sales levels even though profitability may not be at the maximum.
D)decreases sales levels but increases profit margins.