MAR 3023 CHAPTER 2 EXAM
QUESTIONS WITH CORRECT
ANSWERS
What tool, used during the implementation phase of the strategic marketing process,
helps identify which tasks can be done concurrently and which tasks must be done
sequentially? - Answer- a Gantt chart
The ________ is the difference between the projection of the path to reach a new sales
revenue goal and the projection of the path of a plan already in place. - Answer-
planning gap
Obtaining resources and defining tasks and deadlines are part of which phase in the
strategic marketing process? - Answer- implementation
Obtaining and assembling sufficient human and financial resources to execute a
successful marketing program takes place in which step of the strategic marketing
process? - Answer- implementation
What four items are shown on a Gantt chart? - Answer- the person(s) responsible for
completing the task
the tasks to be completed
the date to finish the task
what is to be delivered
When a deviation is identified in the evaluation phase of the strategic marketing
process, what two marketing actions might a manager take? - Answer- Exploit a positive
deviation.
Correct a negative deviation.
The planning gap is an example of ______. - Answer- a comparison of projected sales
for current plans and a new sales goal
Acting on deviations, both positive and negative, is an important part of what phase in
the strategic marketing process? - Answer- evaluation
, A(n) ______ is a legal entity that consists of people who share a common mission. -
Answer- organization
A business firm seeks ________ while a(n) ________ organization may seek other
goals like operational efficiency or customer satisfaction. - Answer- profit; nonprofit
True or false: The purpose of a marketing strategy is to maximize short-term profits. -
Answer- False
What are the three levels of strategy in organizations? - Answer- corporate level
strategic business unit level
functional level
Select the three items which characterize a firm's core values. (Select all that apply) -
Answer- Core values are timeless.
Core values guide the organization's conduct.
Core values should inspire and motivate a firm's stakeholders.
The overall strategy for the entire organization is set at the ______. - Answer- corporate
level
Select the items that characterize organizations. (Select all that apply) - Answer-
develops goods, services, or ideas
strives to create value for its customers
consists of people who share a common mission
An organization whose primary organizational goal is operational efficiency or client
satisfaction would be classified as a(n) ______. - Answer- nonprofit organization
A strategy can be defined as ______. - Answer- an organization's long-term course of
action allowing it to achieve its goals
A large health products manufacturer has three distinct divisions: first aid products, oral
care products, and foot care products. Each of these divisions has a specific strategy to
target a specific market. These three divisions are referred to as ______. - Answer-
strategic business units (SBUs)
A(n) ______ is a subsidiary, division, or unit of an organization that markets a set of
related offerings to a clearly defined group of customers. - Answer- strategic business
unit (SBU)
In an organization, what function takes place at the corporate level? - Answer- directing
the overall strategy for the organization
The primary difference between a business firm and a nonprofit organization is that a
______. - Answer- business firm serves its customers in order to earn a profit
QUESTIONS WITH CORRECT
ANSWERS
What tool, used during the implementation phase of the strategic marketing process,
helps identify which tasks can be done concurrently and which tasks must be done
sequentially? - Answer- a Gantt chart
The ________ is the difference between the projection of the path to reach a new sales
revenue goal and the projection of the path of a plan already in place. - Answer-
planning gap
Obtaining resources and defining tasks and deadlines are part of which phase in the
strategic marketing process? - Answer- implementation
Obtaining and assembling sufficient human and financial resources to execute a
successful marketing program takes place in which step of the strategic marketing
process? - Answer- implementation
What four items are shown on a Gantt chart? - Answer- the person(s) responsible for
completing the task
the tasks to be completed
the date to finish the task
what is to be delivered
When a deviation is identified in the evaluation phase of the strategic marketing
process, what two marketing actions might a manager take? - Answer- Exploit a positive
deviation.
Correct a negative deviation.
The planning gap is an example of ______. - Answer- a comparison of projected sales
for current plans and a new sales goal
Acting on deviations, both positive and negative, is an important part of what phase in
the strategic marketing process? - Answer- evaluation
, A(n) ______ is a legal entity that consists of people who share a common mission. -
Answer- organization
A business firm seeks ________ while a(n) ________ organization may seek other
goals like operational efficiency or customer satisfaction. - Answer- profit; nonprofit
True or false: The purpose of a marketing strategy is to maximize short-term profits. -
Answer- False
What are the three levels of strategy in organizations? - Answer- corporate level
strategic business unit level
functional level
Select the three items which characterize a firm's core values. (Select all that apply) -
Answer- Core values are timeless.
Core values guide the organization's conduct.
Core values should inspire and motivate a firm's stakeholders.
The overall strategy for the entire organization is set at the ______. - Answer- corporate
level
Select the items that characterize organizations. (Select all that apply) - Answer-
develops goods, services, or ideas
strives to create value for its customers
consists of people who share a common mission
An organization whose primary organizational goal is operational efficiency or client
satisfaction would be classified as a(n) ______. - Answer- nonprofit organization
A strategy can be defined as ______. - Answer- an organization's long-term course of
action allowing it to achieve its goals
A large health products manufacturer has three distinct divisions: first aid products, oral
care products, and foot care products. Each of these divisions has a specific strategy to
target a specific market. These three divisions are referred to as ______. - Answer-
strategic business units (SBUs)
A(n) ______ is a subsidiary, division, or unit of an organization that markets a set of
related offerings to a clearly defined group of customers. - Answer- strategic business
unit (SBU)
In an organization, what function takes place at the corporate level? - Answer- directing
the overall strategy for the organization
The primary difference between a business firm and a nonprofit organization is that a
______. - Answer- business firm serves its customers in order to earn a profit
