Question 1

In the 20^th century,railroads may have let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business. A)transportation B)transcontinental shipping C)passenger travel D)product delivery E)bulk cargo

Accepted Answer

The question is asking for a broader definition of the business, which encompasses all modes of transportation. Choice A is the only option that fits this definition. Choices B, C, D, and E are all specific subsets of transportation and do not encompass all modes of transportation.

Question 2

Since its launch,Netflix has changed its business model in order to
A)compete with Blockbuster retail store expansion.
B)respond to changing consumer needs and the evolution of new technologies.
C)expand its focus from entertainment to movie collectibles and memorabilia.
D)avoid head-to-head competition with satellite television providers,which recently announced a strategic partnership with Blockbuster that offers a similar service as Netflix.
E)begin preparations to withdraw from its traditional method of mail delivery,which takes 2-3 business days and introduce next-day delivery through FedEx.

Accepted Answer

Netflix has changed its business model multiple times to keep up with changing consumer needs and advancements in technology. It started as a DVD rental by mail service and evolved into a streaming platform. It also creates original content and has expanded globally.

Question 3

The __________ for Lucent Technologies is "To use our unique capabilities to ensure that our customers thrive,our business grows,and we enrich the personal communications experience for people around the world."
A)sustainability doctrine
B)core benefit proposition
C)corporate philosophy
D)mission statement
E)code of ethics

Accepted Answer

The statement provided indicates the purpose and direction of Lucent Technologies, which is a mission statement. The other options do not fit the definition of a mission statement.

Question 4

__________ argued that senior managers of 20^th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks. A)Earl Bakken B)Benjamin Greenfield C)Reed Hastings D)Theodore Levitt E)Steve Jobs

Accepted Answer

Theodore Levitt famously argued this point in his 1960 Harvard Business Review article "Marketing Myopia."

Question 5

When the company Netflix first began,it wasn't as successful as expected.This may have been because
A)the program wasn't subscription-based.
B)too many customers failed to return the VHS cassettes.
C)the price of postage increased dramatically and ate into profits.
D)too many free movies were now available through on-demand cable TV and streaming via the Internet.
E)the primary target market,consisting of young people aged 18 to 24 years old,had declining interest in movies and was spending more time listening to music and playing video games.

Accepted Answer

Netflix initially operated as a DVD rental service with a pay-per-rental model, which was not as successful. The shift to a subscription-based model later contributed to its success.

Question 6

A set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization is referred to as its __________.
A)mission statement
B)core value proposition
C)organizational culture
D)corporate philosophy
E)core benefit proposition

Accepted Answer

Organizational culture refers to the shared beliefs, values, and practices that characterize an organization. It is learned through socialization and is influential in shaping employee behavior and attitudes. Mission statement, core value proposition, and core benefit proposition are all related to marketing and branding, while corporate philosophy refers to the overarching beliefs and principles that guide a company's decision-making.

Question 7

George Zimmer,the CEO of Men's Wearhouse,is known to the public as the bearded company pitchman who sells suits and sport coats on TV declaring,"You'll like the way you look,I Guarantee it!" He also says that to be successful,"You've got to have a company that starts with trust and fairness." He aims to keep his employees happy and loyal.Zimmer is attempting to establish a(n)___________ for Men's Wearhouse.
A)ethos
B)mission statement
C)organizational culture
D)pathos
E)behavioral protocol

Accepted Answer

Zimmer is attempting to establish an organizational culture for Men's Wearhouse, which includes values such as trust, fairness, and loyalty among employees. This culture is reflected in the company's brand and messaging to customers.

Question 8

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.
A)business
B)commerce
C)marketing
D)competitive set
E)product grouping

Accepted Answer

The term "business" refers to the overall industry or market sector in which an organization operates. It is broader in scope than the other options listed, such as marketing or product grouping.

Question 9

Recently,many organizations have added __________ to their mission statements.
A)a business definition
B)a social element to reflect what is morally right and worthwhile
C)an economic element to promote profit maximization
D)an expanded definition of stakeholders to include its competitors
E)their level of pricing and product quality.

Accepted Answer

Many organizations recognize the importance of incorporating ethical and social responsibility into their mission statements in order to reflect their values and commitment to making a positive impact on society. This can include elements such as sustainability, diversity and inclusion, and community involvement.

Question 10

In terms of an organization's business,railroads may have lost market share in the 20^th century because they A)had less flexible routes than trucking. B)defined their business too narrowly. C)defined their business too broadly. D)priced their services too high. E)were simply an outmoded form of transportation.

Accepted Answer

Railroads lost market share because they defined their business too narrowly as being in the railroad industry rather than the broader transportation industry, which limited their ability to adapt to changing market demands and competition.

Question 11

Which of the following statements regarding organizational culture is most accurate?
A)Organizational culture exists only at the corporate level of an organization.
B)Organizational culture is a form of communication and connection with all of the firm's stakeholders.
C)Organizational culture is best used only at the functional level for the most effective results.
D)Organizational culture cannot be learned or taught.
E)Organizational culture is a statement of the organization's function in society.

Accepted Answer

Organizational culture is not limited to the corporate level, but is a broader concept that encompasses the values, beliefs, and behaviors shared by all members of an organization. It serves as a means of communication and connection between stakeholders, including customers, employees, suppliers, and the wider community. It reflects the organization's identity and influences its performance and success. Therefore, option B is the most accurate statement.

Question 12

Recently,St.Joseph Hospital was named one of the "Best Places to Work in Indiana" for the sixth consecutive year.The hospital touts universal values to 'keep healthcare human' and employees consistently put patients first,which unites them in a common goal.Hospital President Kathy Young believes that St.Joseph's __________ makes both her employees and patients happier in her hospital.
A)ethos
B)service offerings
C)organizational culture
D)pathos
E)behavioral protocol

Accepted Answer

The hospital's emphasis on universal values to 'keep healthcare human' and employees consistently putting patients first suggests a strong organizational culture. Hospital President Kathy Young also hints at this by crediting the hospital's culture for making both employees and patients happier in the hospital.

Question 13

The __________ for American Red Cross is "to provide relief to victims of disasters and help prevent,prepare for,and respond to emergencies."
A)core benefit proposition
B)business definition
C)sustainability doctrine
D)mission statement
E)core value proposition

Accepted Answer

A mission statement articulates an organization's purpose, values, and objectives. The given statement is the mission statement of the American Red Cross.

Question 14

Organizational culture refers to
A)the personal moral and ethical codes of ethics of its top management.
B)a written mission statement expressing its goals and objectives to be achieved through enacting a comprehensive strategic plan.
C)the fundamental,passionate,and enduring principles that guide its conduct over time.
D)the ethos of an organization including the core values of its management.
E)a set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization.

Accepted Answer

Organizational culture refers to a set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization. These shared beliefs and values shape behaviors, perceptions, and decision-making within the organization. It is not limited to the personal moral and ethical codes of top management or expressed through a written mission statement. It is a fundamental, passionate, and enduring principle that guides the organization's conduct over time and reflects the core values and ethos of the organization as a whole.

Question 15

The organizational __________ answers the question,"What will we do?"
A)foundation
B)direction
C)culture
D)strategy
E)mission

Accepted Answer

The organization's direction includes (1)the "business it is in" and (2)its specific goals.

Question 16

A business model
A)is a road map for the marketing activities of an organization for a specified future time period.
B)consists of the strategies an organization develops to provide value to the customers it serves.
C)is a measure of the quantitative value or trend of a marketing activity or result.
D)consists of the detailed day-to-day operational decisions for an organization.
E)is the means by which organizational goals are to be measured and documented.

Accepted Answer

A business model consists of the strategies an organization develops to provide value to the customers it serves. It includes the way the organization plans to generate revenue and make a profit, as well as how it plans to interact with its customers, suppliers, and partners. It is not a road map for marketing activities or a measure of marketing results, nor does it consist of day-to-day operational decisions or document organizational goals.

Question 17

"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.
A)sustainability doctrine
B)core benefit proposition
C)corporate philosophy
D)mission statement
E)code of ethics

Accepted Answer

The answer of "HowAboutWe is the fastest,easiest,most fun way to...

Question 18

Many bookstores,like Borders and Bookstar,have closed because of competition from new e-book readers.Subscribers to newspapers and magazines have cancelled their print subscriptions in favor of online news.These trends have caused retailer Barnes & Noble to offer the Nook Simple Touch,a digital e-reader for $99,and the newspaper StarTribune to offer online content for $1.99 per week.These companies had to change their __________,an action triggered by the technological and social changes that occurred in their marketing environments. A)organizational cultures B)marketing tactics C)business models D)strategic marketing processes E)goals or objectives

Accepted Answer

The technological and social changes in their marketing environments have caused Barnes & Noble and StarTribune to offer new products/services (Nook Simple Touch and online content for $1.99 per week) and change their business models to adapt to the changing market conditions. Therefore, C (business models) is the best answer.

Question 19

In the context of organizational direction,a business refers to
A)the daily operational decisions that must be implemented for an organization to remain viable.
B)exchange transactions between seller and buyer in order for the seller to make sales and earn profits.
C)the clear,broad,underlying industry or market sector of an organization's offering.
D)an organization that develops an offering.
E)the objectives of a firm and the strategies and tactics that will allow it to achieve them.

Accepted Answer

The answer of In the context of organizational direction,a business...

Question 20

The strategies an organization develops to provide value to the customers it serves is called a(n)
A)mission statement.
B)objective goal.
C)vision statement.
D)business model.
E)protocol.

Accepted Answer

A business model outlines how an organization creates, delivers, and captures value for its customers. This includes strategies such as pricing, distribution channels, and customer segments. Mission and vision statements are guiding statements that articulate the overall purpose and direction of the organization, while objective goals are specific, measurable targets the organization aims to achieve. Protocol refers to a set of rules or procedures to be followed in certain situations.

Quiz 2: Developing Successful Marketing and Organizational Strategies

In the 20th century,railroads may have let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business.

Since its launch,Netflix has changed its business model in order to

The __________ for Lucent Technologies is "To use our unique capabilities to ensure that our customers thrive,our business grows,and we enrich the personal communications experience for people around the world."

__________ argued that senior managers of 20th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

When the company Netflix first began,it wasn't as successful as expected.This may have been because

A set of values,ideas,attitudes,and norms of behavior that is learned and shared among the members of an organization is referred to as its __________.

The clear,broad,underlying industry or market sector of an organization's offerings is referred to as its __________.

Recently,many organizations have added __________ to their mission statements.

In terms of an organization's business,railroads may have lost market share in the 20th century because they

Which of the following statements regarding organizational culture is most accurate?

The __________ for American Red Cross is "to provide relief to victims of disasters and help prevent,prepare for,and respond to emergencies."

Organizational culture refers to

The organizational __________ answers the question,"What will we do?"

A business model

"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.

In the context of organizational direction,a business refers to

The strategies an organization develops to provide value to the customers it serves is called a(n)

In the 20^th century,railroads may have let airlines,barges,pipelines,and trucks take business away from them because their strategies were developed only for the railroad business,rather than a broader definition of the __________ business.

__________ argued that senior managers of 20^th century American railroads defined their business too narrowly,thus failing to create strategies to compete with airlines,barges,pipelines,and trucks.

In terms of an organization's business,railroads may have lost market share in the 20^th century because they