Question 1

In a traditional organization, marketing decisions are likely to be
A) very decentralized.
B) centralized at the top levels of the organization.
C) made by frontline employees.
D) made by frontline managers.
E) made only by the CEO.

Accepted Answer

In a traditional organization, marketing decisions are likely to be centralized at the top levels of the organization. This means that senior executives and top-level managers would typically make marketing decisions after consulting with various departments and stakeholders. Centralized decision-making helps ensure consistency in marketing strategy and messaging, as well as alignment with overall corporate goals and objectives.

Question 2

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

Accepted Answer

The answer of The strategic planning process begins with a...

Question 3

Scenario 2.2 Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including the marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
Refer to Scenario 2.2. The college-aged student represents EXperience Limited's ____, and the tours it operates represent the ____ element of the marketing mix.
A) target market; distribution
B) customer relationships; distribution
C) cash cow; product
D) cash cow; distribution
E) target market; product

Accepted Answer

The college-aged student represents EXperience Limited's target market, as the owner believes this group will help him reach his marketing objective of growing his customer base by 15% during the coming year. The tours it operates represent the product element of the marketing mix, as they are the core offering of the company's business.

Question 4

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except
A) improving actual performance.
B) reducing the performance standard.
C) totally changing the performance standard.
D) changing the marketing strategy.
E) coordinating a new step in performance analysis.

Accepted Answer

Corrective actions for reducing discrepancies between established performance standards and actual performance typically involve adjusting actual performance, modifying performance standards, or altering strategies. Coordinating a new step in performance analysis does not directly address the discrepancy but rather investigates it further.

Question 5

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

Accepted Answer

A marketing strategy outlines the overall plan and approach for marketing efforts, but it is not necessarily a written document specifying activities; that would be a marketing plan.

Question 6

Scenario 2.1 Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights.
Refer to Scenario 2.1. The fact that Southwest Airlines has a history of being able to retain its employees is a(n) ____ in its SWOT analysis. This low turnover creates more knowledgeable and satisfied employees, a potential _______.
A) weakness; opportunity
B) strength; competitive advantage
C) threat; market opportunity
D) opportunity; competitive advantage
E) strength; market opportunity

Accepted Answer

The fact that Southwest Airlines has a history of being able to retain its employees is a strength in its SWOT analysis. This low turnover creates more knowledgeable and satisfied employees, which can provide a competitive advantage for the company.

Question 7

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is
A) controlling marketing activities.
B) taking corrective action.
C) empowering its employees.
D) evaluating actual performance.
E) setting performance standards.

Accepted Answer

By using the J.D. Power & Associates Sales Satisfaction Survey, Honda is evaluating its actual performance in terms of customer satisfaction. This evaluation helps the company identify areas where corrective action is needed in order to improve its product and service level. It also provides insights into how well the company is meeting its performance standards. However, this process does not involve controlling marketing activities or empowering employees.

Question 8

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Accepted Answer

This statement is true. A competitive advantage is gained when a company is able to leverage its strengths and core competencies to meet specific market opportunities or needs in a way that other companies are unable to do. This allows the company to differentiate its products or services, and ultimately gain a distinct advantage over its competitors.

Question 9

Scenario 2.1 Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights.
Refer to Scenario 2.1. Southwest's low fares, dependability, and its on-time flights represent its
A) competitive advantage
B) marketing opportunity
C) marketing plan
D) marketing objectives
E) total quality management

Accepted Answer

Southwest's low fares, dependability, and on-time flights are its competitive advantages, which distinguishes it from other airlines in the market.

Question 10

Scenario 2.2 Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including the marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
Refer to Scenario 2.2. The fact that college enrollments have been increasing at a fast rate the past few years is an example of ____ and creates a ____ for EXperience Limited.
A) an environmental factor; marketing opportunity
B) an environmental factor; strategic door
C) a company strength; marketing opportunity
D) a company strength; competitive advantage
E) a marketing opportunity; competitive advantage

Accepted Answer

The increasing college enrollments are an environmental factor that creates a marketing opportunity for EXperience Limited to target college-aged students in order to grow their customer base.

Question 11

Megan knows that whether she decides to interact with her customers in person, by phone, online, Facebook, Twitter, or by fax, that ____ should ultimately drive the marketing strategy.
A) marketing research
B) polite responsiveness
C) her customers
D) product availability
E) company goals

Accepted Answer

The customers should ultimately drive the marketing strategy because they are the ones who will be purchasing the product or service. Understanding their needs, preferences, and behavior is crucial in developing an effective marketing plan.

Question 12

The first step in the strategic performance evaluation is to
A) take corrective action.
B) reduce the difference between actual and desired standards.
C) evaluate actual performance.
D) compare actual performance and standards.
E) establish performance standards.

Accepted Answer

The first step in strategic performance evaluation is to establish performance standards. This involves defining what constitutes success or effective performance, which provides a basis for evaluating actual performance in the future. Only after performance standards are set, can actual performance be measured and compared to those standards, corrective action taken, and differences reduced.

Question 13

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

Accepted Answer

The analysis of strengths and weaknesses is an internal analysis that identifies the organization's strengths and weaknesses in meeting the needs of its target markets. It does not consider external factors such as competition, market trends, or regulatory environment.

Question 14

Marketing strategies should be established before marketing objectives are decided.

Accepted Answer

Marketing objectives should be established first as they define what the business wants to achieve, guiding the development of strategies to reach those goals.

Question 15

Mama Vertalli's Bakery is a family-owned business with over $1 million in annual revenues and six locations. At Mama Vertalli's, decisions are sometimes slow in coming and top-level managers delegate very little authority to lower-level employees. Mama Vertalli's is a(n) ____ organization.
A) centralized
B) decentralized
C) empowered
D) marketing-oriented
E) total quality management

Accepted Answer

The description of Mama Vertalli's Bakery suggests that decision-making is slow and that top-level managers hold a lot of the decision-making power. This is indicative of a centralized organization where decision-making is concentrated in the hands of a few high-level managers.

Question 16

A core competency is something a firm does extremely well, sometimes so well that it gives the company an advantage over its competition.

Accepted Answer

A core competency is indeed something that a firm excels at and possesses a competitive advantage over its rivals.

Question 17

Scenario 2.1 Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company. Employees have been known to dress up in costume on an airplane, engage in "games" with the passengers, and generally provide a fun atmosphere for traveling. While other airlines have low rates of customer satisfaction, Southwest tends to maintain a high rating with its customers. Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum, adding to the negative experience of airline travel. Southwest keeps its costs low through several methods, one being that they do not serve meals on flights, or provide pre-boarding passes. The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country. Southwest is known for its low fares, its dependability, and its on-time flights.
Refer to Scenario 2.1. In Southwest Airlines' SWOT analysis, the rising gas prices are a(n) ____, while the fact that other airlines are charging for all checked baggage may create a(n) ____.
A) threat; strength
B) weakness; strength
C) threat; opportunity
D) weakness; opportunity
E) opportunity; strength

Accepted Answer

Rising gas prices are a threat because they increase operational costs, potentially affecting profitability. The fact that other airlines are charging for all checked baggage may create an opportunity for Southwest to differentiate itself and attract customers looking to avoid these fees.

Question 18

A long-term view, or vision, of what the organization wants to become is called a mission proclamation.

Accepted Answer

A mission proclamation (also known as a mission statement) is a brief statement that communicates the organization's purpose, values, and goals. A long-term view or vision of what the organization wants to become is typically referred to as a vision statement.

Question 19

An expected level of performance against which actual performance can be compared is a
A) standard performance.
B) standard of excellence.
C) step in sales analysis.
D) performance standard.
E) corrective standard.

Accepted Answer

The term "performance standard" directly refers to an expected level of performance that can be used as a benchmark for comparison with actual performance.

Question 20

Scenario 2.2 Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including the marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to promote to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
Refer to Scenario 2.2. According to the BCG matrix, the hang-gliding and bungee jumping tours have been a ____ for EXperience Limited, while the skydiving and motorcross tours represent a ____.
A) star; dog
B) cash cow; question mark
C) cash cow; star
D) star; cash cow
E) star; question mark

Accepted Answer

The hang-gliding and bungee jumping tours have been successful and likely generate consistent revenue, making them a "cash cow." The skydiving and motocross tours are new and untested, representing potential but uncertain markets, thus they are "question marks."

Quiz 2: Planning, Implementing, and Evaluating Marketing Strategies

In a traditional organization, marketing decisions are likely to be

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Megan knows that whether she decides to interact with her customers in person, by phone, online, Facebook, Twitter, or by fax, that ____ should ultimately drive the marketing strategy.

The first step in the strategic performance evaluation is to

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

Marketing strategies should be established before marketing objectives are decided.

Mama Vertalli's Bakery is a family-owned business with over $1 million in annual revenues and six locations. At Mama Vertalli's, decisions are sometimes slow in coming and top-level managers delegate very little authority to lower-level employees. Mama Vertalli's is a(n) ____ organization.

A core competency is something a firm does extremely well, sometimes so well that it gives the company an advantage over its competition.

A long-term view, or vision, of what the organization wants to become is called a mission proclamation.

An expected level of performance against which actual performance can be compared is a