Question 1

All internal organizational practices should be aligned around ____.

Accepted Answer

The customer should typically be the central focus for any organization, as they are the ones driving revenue and ultimately determine the success of the business. Internal practices should therefore be aligned around meeting the needs and expectations of the customer.

Question 2

When TGI Friday's,Outback Steakhouse,and other fast-casual restaurants began offering curbside delivery for call-in customers,the trend seemed unnoticed by the 'fast-food' chains like McDonalds.This illustrates Fred Wiersema's new market reality of ____________________.

Accepted Answer

Fred Wiersema's new market reality of "Competitors proliferate" is illustrated by the fast-casual restaurants like TGI Friday's and Outback Steakhouse offering curbside delivery for call-in customers, while fast-food chains like McDonald's seemed to have ignored this trend. This suggests that competition is increasing and businesses need to adapt to meet changing customer expectations.

Question 3

State Farm Insurance offers products through a network of 16,000 independent agents.Assume that the company wants to launch a marketing campaign directed at college students.Which marketing tactic would you recommend?

Accepted Answer

Setting up a MySpace contest to win gas money would be the best choice since it targets college students who are more likely to use social media platforms like MySpace. Additionally, college students are often on a tight budget and in need of gas money for their cars, making the prize appealing to them. The other options may not be as effective in reaching the target audience of college students.

Question 4

Customer orientation must be understood by _____________.

Accepted Answer

Customer orientation should not only be understood by a particular group of employees, it should be embraced and practiced by everyone in the organization. It is essential for everyone to have a customer-centric approach in order to deliver superior value and meet customer needs effectively.

Question 5

Which of the following is NOT a change driver impacting the future of marketing?

Accepted Answer

The focus on sales orientation is not a change driver impacting the future of marketing as marketing and sales are two different functions with distinct objectives. However, it is important for marketing to collaborate with sales to achieve the common goal of revenue growth.

Question 6

Jim got over 21 million results when he visited a search engine to find out how to build his own web site.This trend is identified by Wiersema's new market reality of _____________________.

Accepted Answer

Wiersema's new market reality of "information overwhelms and depreciates" suggests that with the abundance of information available today, consumers and businesses may become overloaded and struggle to discern what is valuable, leading to a possible decrease in the perceived value of information overall. Jim's experience with his web site search aligns with this trend as he was inundated with millions of results, making it difficult to determine which information was most helpful or relevant to his needs.

Question 7

Southwest Air was the only airline in the U.S.that did not lose money in the year following the 9/11 terrorist attacks on the United States in 2001.This fact most likely reflects the company's _____________.

Accepted Answer

Southwest Air's ability to remain profitable likely reflects its strategic marketing (Big M) approach, which involves long-term planning and a focus on customer satisfaction and operational efficiency, rather than just short-term sales tactics or advertising.

Question 8

Customers being inundated with thousands of new products in a year and suppliers being in the pursuit of the next best thing is highly relevant to which of the following market realities identified by Wiersema?

Accepted Answer

This market reality, "Innovation is universal," specifically addresses the idea that suppliers are constantly pursuing the next best thing in order to stay relevant in the market and attract customers with new and improved products.

Question 9

The long-term objective of strategic marketing is ____________.

Accepted Answer

The long-term objective of strategic marketing is profitability through building a customer-oriented organization. It involves understanding the needs and wants of customers, developing products and services to meet those needs, and building long-term relationships with customers to ensure continued business success. While understanding where the company will be in the future and studying the competition are important aspects of strategic marketing, the ultimate goal is to achieve profitability through customer satisfaction. Getting ahead while doing well in society is also an important consideration, but it is not the primary objective of strategic marketing.

Question 10

Starbucks does not use advertise to promote its stores.This decision most likely reflects the company's _____________.

Accepted Answer

Starbucks focuses on Marketing (Big M), which involves creating a strong brand and customer experience rather than relying on traditional advertising methods.

Question 11

Strategic marketing refers to __________________.

Accepted Answer

Strategic marketing refers to having a long-term commitment to investing in marketing to enhance organizational performance. It involves developing and implementing a marketing plan that aligns with the organization's objectives and goals.

Question 12

Coming to grips with the impact of Wiersema's six market realities should drive firms to realize ______________.

Accepted Answer

Wiersema's six market realities highlight the need for customer-centric strategies and marketing to be a central focus of the organization. Therefore, the correct choice is A - "that marketing is central to the organization."

Question 13

The Internet has made it easy for customers to access information,disinformation,post their opinions and read other people's opinions.From a marketer's point of view,this has caused _______.

Accepted Answer

The easy access to information and opinions has shifted power from marketers to consumers. Customers can now make informed decisions and have a stronger influence on the success of a product or brand.

Question 14

Kraft Foods planned to introduce more than 80 new products in 2008.This illustrates Fred Wiersema's new market reality of ____________________.

Accepted Answer

Fred Wiersema's new market reality of innovation is universal accurately describes Kraft Foods' plan to introduce over 80 new products in 2008, indicating a strong emphasis on creating new and innovative offerings.

Question 15

In order for Marketing (Big M)to succeed,it must be championed by __________.

Accepted Answer

Marketing (Big M) is a strategic function that needs to align with the overall goals and vision of the organization, which is primarily set by top management. The success of marketing initiatives depends on the commitment of top management to allocate the necessary resources and provide a supportive organizational culture. While other stakeholders such as the sales force, middle management, frontline personnel, and even external partners and customers can play a crucial role in executing marketing tactics effectively, their involvement alone cannot ensure the success of marketing strategy without top management's sponsorship.

Question 16

Sheila and Barbara are billing department managers in a call center.Senior management has given employees only a limited amount of time to spend with each customer who phones.Sheila and Barbara want to make strategic marketing changes.They must have the support of ____________ in order to succeed.

Accepted Answer

Sheila and Barbara need the support of top management to make strategic marketing changes, as top management has the authority to approve and implement such changes within the organization.

Question 17

____________ advocates that firms should fulfill the customer's needs in as custom a manner as possible.

Accepted Answer

One-to-one marketing advocates for a personalized approach to fulfilling the customer's needs, tailoring products and services to individual customer preferences and behaviors. This approach emphasizes building long-term relationships with customers by creating unique experiences and custom solutions for their specific needs.

Question 18

Companies like GEICO and Progressive that use online marketing and phone calls have affected established car insurance companies like State Farm and Allstate that traditionally write their policies through agents.This demonstrates that __________________.

Accepted Answer

The fact that newer, online-focused companies are disrupting traditional insurance companies points to a shift in consumer preferences, particularly among younger customers, who value speed and convenience in their transactions. This suggests that younger customers may be less interested in working with agents and may prefer online options.

Question 19

Generational shifts impact marketing in terms of human resources.Older and younger generations may have different _________________.

Accepted Answer

Older and younger generations may have different attitudes towards work life versus family life, expectations about job satisfaction and rewards, and preferred modes of learning and working. As a result, marketing strategies need to be tailored to appeal to these different generations in terms of human resources. For example, younger generations may be more interested in flexible work arrangements, while older generations may place a higher value on job security and stability. Understanding these differences is essential for effective recruitment and retention of employees across generations.

Question 20

Brands and their messages have to catch people's attention because they are not paying attention; they are scanning.This illustrates Fred Wiersema's new market reality of ____________________.

Accepted Answer

The statement about people scanning instead of paying attention points to the new market reality of customers having less time than ever, making option E the best choice.

Quiz 1: Marketing in Todays Global Business Milieu