Question 1

When organizations expand into new products,markets or industries,their original purpose may become irrelevant.Such organizations can be defined as _____.

Accepted Answer

A "drifting" organization is without a clear mission, vision, or purpose to guide critical decisions. When this occurs management should search for a purpose or emphatically restate or reinforce the original purpose.

Question 2

The Helen Mortimer Foundation is a non-profit organization that develops strategies to encourage people to stop smoking in its efforts to reduce the incidence of lung cancer.This is an example of marketing for a(n)_____.

Accepted Answer

Marketing for a cause involves marketing designed to create support for ideas, causes, or issues to get people to change undesirable behavior.

Question 3

The organization's mission,objectives,strategies,and its portfolio plan are the four major components of its _____.

Accepted Answer

The four components of a strategic plan are mission, objectives, strategies, and portfolio plan.

Question 4

An organization seeking to make a profit by serving the needs of customer groups,rather than depending only on its current products or devising methods to attract consumers,has a _____ orientation.

Accepted Answer

Marketing concept means that an organization should seek to make a profit by serving the needs of customer groups. The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of customer needs.

Question 5

Run for the Cure is an annual marathon that is geared toward raising money for conducting research on breast cancer.Marketers advertize through the local media to attract participants and volunteers to the event.Which of the following types of marketing is depicted in this scenario?

Accepted Answer

Marketing designed to attract donors, members, participants or volunteer's is called organization marketing. For example, strategies designed to attract blood donors.

Question 6

Which of the following statements is true for a firm that adheres strictly to the marketing concept?

Accepted Answer

The principal task of the marketing function operating under the marketing concept is not to manipulate customers to do what suits the interests of the firm, but rather to find effective and efficient means of making the business do what suits the interests of customers.

Question 7

Midas Corporation is a sporting goods manufacturer.Most of its energies and resources are devoted to one line of sporting shoes that has been a reasonable hit in the past.The company rarely undertakes any marketing research studies to assess consumer wants and needs and seldom devises new advertising or promotional strategies.The company is exhibiting a _____.

Accepted Answer

Production orientation is orientation towards the firm's current products rather than on the firm's customer needs.

Question 8

The purpose of the marketing concept is to rivet the attention of marketing managers primarily on serving broad classes of _____.

Accepted Answer

The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of customer needs. Thus, effective marketing starts with the recognition of customer needs and then works backward to devise products and services to satisfy these needs.

Question 9

Which of the following is the first step that an organization must take in the strategic planning process?

Accepted Answer

The output of the strategic planning process is the development of a strategic plan. The four components of a strategic plan are the mission, objectives, strategies, and portfolio plan.

Question 10

The things that an organization does so well that they give it an advantage over similar organizations represent that organization's _____.

Accepted Answer

Distinctive competencies are things that an organization does well.

Question 11

Why is it disadvantageous for a company to carry on business as usual for too long?

Accepted Answer

Corporations should recognize that business strategies need to reflect changing environments. Hence, emphasis must be placed on developing business systems that allow for continuous improvement.

Question 12

Before divisional and departmental managers of a new company can start planning for their respective divisions or departments,the company must:

Accepted Answer

Before a production manager, marketing manager, and personnel manager can develop plans for their individual departments, some larger plan or blueprint for the entire organization should exist.

Question 13

Run With Scissors,Inc.,a hair salon,advertizes its trendy and affordable offerings primarily through the use of social media.The type of strategy the hair salon uses can be classified as marketing for a _____.

Accepted Answer

Marketing for a service involves marketing designed to create exchanges for intangible products.

Question 14

Zest Sports Ltd.manufactures sports goods and the company recently introduced a new line of sportswear targeted at children between ages of 7 and 10 years.The marketing team envisions an entirely new marketing strategy for the new line of sportswear.This is an example of _____ marketing.

Accepted Answer

Marketing designed to create exchange for tangible products is called product marketing.

Question 15

Formulating a strategy based on distinctive competencies provides the organization with a unique benefit that _____.

Accepted Answer

Distinctive competencies are things that an organization does so well that they give it an advantage over similar organizations. No matter how appealing an opportunity may be, to gain advantage over competitors, the organization must formulate strategy based on distinctive competencies.

Question 16

The organization's environment provides the resources that sustain the organization.In exchange for these resources,the organization must supply the environment with _____.

Accepted Answer

The organization's environment provides the resources that sustain the organization. The organization must supply the environment with quality goods and services at an acceptable price. In other words, every organization exists to accomplish something in the larger environment and that purpose, vision, or mission usually is clear at the organization's inception.

Question 17

According to the marketing concept,the customer will be more satisfied and the firm will be more profitable when the:

Accepted Answer

Organizations should focus on building long-term customer relationships in which the initial sale is viewed as a beginning step in the process, not as an end goal. As a result, the customer will be more satisfied and the firm will be more profitable.

Question 18

"Mealtimes" was started as a fine dining restaurant serving the best of the European cuisine.The meals ran into several courses and the restaurant was frequented by people looking for a leisurely meal on a holiday.However,with changing times and needs of consumers,this restaurant altered its offerings to incorporate junk food like pizzas,burgers,and hot dogs.The company had to venture into new and different markets to maintain profitability.These new conditions and a redundant mission statement would make the restaurant a _____.

Accepted Answer

A "drifting" organization is without a clear mission, vision, or purpose to guide critical decisions.

Question 19

The Candela Company's marketing and product design involves identifying customer needs,and then,working backwards to devise products and services to meet those needs.Which of the following statements best describes the company?

Accepted Answer

The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of customer needs (customer orientation). Effective marketing starts with the recognition of customer needs and then works backward to devise products and services to satisfy these needs.

Question 20

The crux of the marketing concept is focusing on building long-term _____,where the initial sale is viewed as the beginning step and not as the end goal.

Accepted Answer

The marketing concept means that an organization should seek to make a profit by serving the needs of customer groups. This means that organizations should focus on building long-term customer relationships in which the initial sale is viewed as a beginning step in the process, not as an end goal.

Quiz 1: Strategic Planning and the Marketing Management Process