31. (p. 25) Strategy refers to Key term definition - strategy. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 02-01 Describe three kinds of organizations and the three levels of strategy in them. Level of Difficulty: 1 Easy Topic: Strategy
Topic: Goals or objectives 115. (p. 28) __________ convert an organization's mission and business into long- and short-term performance targets. Goals or objectives (terms used interchangeably in the text) are statements of an accomplishment of a task to be achieved, often by a specific time. Goals convert an organization's mission and business into long- and short-term performance targets. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Learning Objective: 02-02 Describe core values, mission, organizational culture, business, and goals. Level of Difficulty: 2 Medium Topic: Goals or objectives
132. (p. 28) The number one consumer complaint about bananas is how soon they start getting brown spots. Dole most likely set a(n) __________ goal when it recently began adding stickers to bananas to promote the use of overripe bananas in the Yonanas machine (Dole owns 30% of the firm) to make a creamy, guilt-free dessert. Customer satisfaction can be measured directly with surveys or tracked through customer complaints. This action by Dole seems to be one intended to reduce the number of complaints about its bananas and thus improve satisfaction. AACSB: Knowledge Application Accessibility: Keyboard Navigation Blooms: Apply Learning Objective: 02-02 Describe core values, mission, organizational culture, business, and goals. Level of Difficulty: 3 Hard Topic: Customer satisfaction goal
181. (p. 33) Figure 2-4 shown above represents which type of analysis? Figure 2-4 represents business portfolio analysis, a tool developed by the Boston Consulting Group (BCG) to depict the cash SBUs generated for or required from the organization. See Figure 2-4. AACSB: Analytical Thinking Blooms: Understand Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 2 Medium Topic: BCG business portfolio analysis 182. (p. 32) The purpose of business portfolio analysis is to The purpose of business portfolio analysis is to determine the appeal of each SBU or offering and then determine the amount of cash each should receive. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand
Blooms: Understand Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 2 Medium Topic: BCG business portfolio analysis 203. (p. 33) In its business portfolio analysis, an organization's SBUs often start as __________ and eventually become __________. In its business portfolio analysis, an organization's SBUs often start as question marks and proceed counterclockwise to become stars, then cash cows, and finally dogs. See Figure 2-4. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 2 Medium Topic: BCG business portfolio analysis
245. (p. 35) Consider Figure 2-5 above. A family owns a gelato business in a small town square next to a park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. He purchases a refrigerated cart and takes gelato to the local baseball and softball fields where he sells it to the teams and their fans. Sales of gelato soar and profits begin to rise. This is an example of a __________ strategy that would be found in quadrant __________. Market development is a marketing strategy to sell current products to new markets (C), the situation here. See Figure 2-5. AACSB: Knowledge Application Blooms: Apply Learning Objective: 02-04 Discuss how an organization assesses where it is now and where it seeks to be. Level of Difficulty: 3 Hard Topic: Diversification 246. (p. 35) Quadrant D in Figure 2-5 above represents the marketing strategy of __________. Diversification is a marketing strategy of developing new products and selling them in new markets. See Figure 2-5. AACSB: Analytical Thinking Blooms: Understand
301. (p. 39) The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) __________; and (4) execute the marketing program. The actions taken during the implementation phase of the strategic marketing process include: (1) obtain resources; (2) design the marketing organization; (3) define precise tasks, responsibilities, and deadlines; and (4) execute the marketing program. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Learning Objective: 02-06 Describe the four components of the implementation phase of the strategic marketing process. Level of Difficulty: 2 Medium Topic: Implementation phase
326. (p. 41) The two major aspects of the evaluation phase of the strategic marketing process are Evaluation, the third phase of the strategic marketing process, requires the marketing manager to (1) compare the results of the marketing program with the goals in the written plans to identify deviations and (2) act on these deviations - exploiting positive deviations and correcting negative ones. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Learning Objective: 02-07 Discuss how managers identify and act on deviations from plans. Level of Difficulty: 2 Medium Topic: Evaluation phase 327. (p. 41) The actions taken during the evaluation phase of the strategic marketing process include: (1) __________ and (2) correct negative deviations and exploit positive ones. The actions taken during the evaluation phase of the strategic marketing process include: (1) compare results with plans to identify deviations and (2) exploit positive deviations and correct negative ones. AACSB: Analytical Thinking