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MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 1. _____ is the reward to a business firm for the risk it undertakes in offering a product for sale. Profit 2. When Nimble Motors LLC decided to produce the Nimble Fuel Cell vehicle, an important objective con- sidered was the reward for the risk taken by Nimble Motors LLC. The company was concentrating on the project contribution toward: the company prof- it. 3. A strategic business unit markets a set of: related products to a clearly de- fined group of cus- tomers. 4. At its _____ level, each of Jazzers Inc.'s business units has specialized activities including marketing, finance, manufacturing, and research and develop- ment. functional 5. At the functional level: strategic direc- tion becomes very specific and fo- cused. 6. Carl Garell is the CEO of WethePeople, a company that automates human resource functions such as tracking check-in times. Garell operates at the _____ level of WethePeople. corporate 7. Flyaway, which entered the airline industry, saw only other airlines as competitors. Flyaway has been trapped in marketing myopia because it: defined its busi- ness too narrowly. 8. An organization's _____ has an inspirational theme—something that can ignite the loyalty of cus- tomers, employees, and others with whom the organi- zation comes in contact. mission statement 9. As an organizational goal, Cooper & Howard Asso- ciates always seeks to maximize its long-run _____, profit 1 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 achieving as high a financial return on its investment as possible. 10. The stockholder's report of Drive Inc., a manufacturer of automobile parts, reads that the company's goal for the next five-year period is to double its return on investment. Drive Inc.'s goals are _____ goals. profit 11. Which of the following statements is true? A firm may elect to maintain or in- crease its sales level even though profitability is not going to be maxi- mized. 12. The ratio of the sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself, is known as _____. market share 13. Play Along Inc., a manufacturer of toys, introduced a new gaming console and marketed it to a sample segment on a trial basis. Soon, complaints about in- correct programming of the console started pouring in. This suggests that Play Along Inc. needs to adopt _____ goals. quality 14. Frosty & Tasty, a manufacturer of ice creams, has explicit goals that state its intention to improve work conditions by adding more lighting and providing the workers with more and better safety equipment. This specifically implies that Frosty & Tasty recognizes the critical importance of _____. employee welfare 15. Following a _____ goal, MediPharma Inc. offered se- nior citizens some of its most sought after prescrip- tions, for a month, at a price much lower than the normal cost. social responsibili- ty 16. 2 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 Which of the following is a visual computer display of the essential information related to achieving a marketing objective? marketing dash- board 17. To make decisions regarding market allocations, the chief marketing officer of Touyer Inc. wants to see what effect the company's new print advertising cam- paign has on the brand's sales. For this, the executive must use a _____. marketing dash- board 18. In a marketing dashboard, a _____ is a measure of the quantitative value or trend of a marketing activity or result. marketing metric 19. _____ must be customer-focused and provide gen- uine value and benefits to present and prospective customers. Strategic direc- tions 20. _____ is/are an organization's special capabilities, in- cluding skills, technology, and resources, that distin- guish it from other organizations. Competencies 21. MedRelief LLC, a manufacturer of pharmaceuticals, has a significant number of Nobel Prize winners work- ing in its laboratories due to the resources it makes available for research. This ability to attract some of the finest minds in science to its workforce is an example of a(n) _____. competency 22. _____ is the annual rate of growth of the specific market or industry in which a given SBU is competing. Market growth rate 23. _____ is the sales of an SBU divided by the sales of the largest firm in the industry. Relative market share 24. Keller Associates, a business unit of Marcus Inc., has a high share of high-growth markets and one that is growing rapidly. Which of the following names from the BCG matrix best describes Keller Associates? star 3 / 10

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MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 25. _____ have a dominant share of a slow-growth market and provide cash to pay large amounts of company overhead and to invest in other SBUs. Cash cows 26. OP & G Inc., a 27-year-old IT company, owns several subsidiaries, of which Global G is one of the leading wholesalers of computer peripherals, an industry that is growing worldwide. According to the BCG portfolio matrix, Global G, which needs extra cash to finance its growth in this industry, would most likely be classified as a _____. star 27. Porter Agency, a strategic business unit of Seashore Inc., is generating large amounts of cash, far more than it can invest profitably in its own product line. Which of the following best describes Porter Agency? cash cow 28. A strategic business unit of Positive Associates re- quiring large injections of cash just to maintain its market share is an example of _____. question marks 29. Lawrell Associates, an SBU of Help Agencies, has a really low share of the low-growth markets. Lawrell Associates is a _____. dog 30. Although it is a small market with little growth, Rolls has a large market share and requires no investment from Photoperfect for promotion. Rolls is an example of a(n) _____. cash cow 31. Since last year, the market for Rolls has been decreas- ing. People are increasingly becoming interested in using digital cameras. Due to limited sales, Photop- erfect has stopped production of Rolls. Since Rolls no longer generates sufficient cash to sustain its own production, the BCG portfolio would classify it as a _____. dog 32. When Uncle Tom's Pizza requires no change in the product line, but an increase in sales to existing cus- market penetra- tion 4 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 tomers through innovative pricing, promotion, or dis- tribution strategies, it must use a _____ strategy. 33. Yummeria Foods Inc. advertises its baking soda by prompting consumers to leave open a box of the prod- uct inside the refrigerator to remove food odour. It also advises consumers to keep an open box in all kitchen closets, and to pour down the contents of the box into the kitchen sink every month to freshen the drains. Yummeria Foods is using a _____ strategy to sell more of its baking soda. market penetra- tion 34. When Sharp Associates requires no change in the product but wants to seek out new customers in new markets, it must use a _____ strategy. market develop- ment 35. Printmark Publishers engaged in a _____ strategy when it sold its famous weekly, You, in Canada for the first time. market develop- ment 36. Which market-product strategy involves selling a new product to existing markets? Product develop- ment 37. People's Agent distributes candies and coffee through its vending machines in Canada. The addition of sandwich vending machines to the same market is an example of a _____ strategy. product develop- ment 38. Which market-product strategy requires a company to both develop new products and seek out new mar- kets? diversification 39. Quick Relief Pharmaceuticals currently sells its prod- ucts only in United States. It recently developed a new pharmaceutical drug for cancer. The company was thinking of selling this new prescription drug in Canada, which would be a new market for Quick Relief Pharmaceuticals. The company was implementing a _____ strategy. diversification 5 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 40. How could Fresh'n'Healthy Mornings engage in a mar- ket penetration strategy? by running a promotion based on Jeopardy, the quiz show, where- by customers get a chance to answer questions with each pur- chase, and win prizes for every correct answer 41. How could Fresh'n'Healthy Mornings engage in a mar- ket development strategy? by opening a new store in Mexico 42. How could Fresh'n'Healthy Mornings engage in a product development strategy? by adding a line of sugar-free cookies to the menu of existing Fresh'n'Healthy Mornings stores 43. How could Fresh'n'Healthy Mornings engage in a di- versification market-product strategy? by developing a line of organic breads and sell- ing them in stores such as Loblaws, Loeb, and Safe- way 44. _____ is an approach whereby an organization allo- cates its marketing mix resources to reach its target markets and achieve its goals. Strategic market- ing process 45. The key steps of planning, implementation, and eval- uation are part of _____. the strategic mar- keting process 46. The strategic marketing process is so central to the activities of most organizations that they formalize it as a _____. marketing plan 6 / 10

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MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 47. A _____ is a road map for the marketing activities of an organization for a specified future period of time, such as one year or five years. marketing plan 48. The first step in the planning phase of the strategic marketing process is: situation analysis. 49. Eggstock Inc. is taking stock of where the firm or product has been recently, where it is now, and where it is headed in light of its plans and the external fac- tors and trends affecting it. Which of the following is Eggstock doing? situation analysis 50. An effective technique a firm can use to appraise in detail its internal strengths and weaknesses and external opportunities and threats is called _____. a SWOT analysis 51. Dustywinds Inc., operating in many parts of Canada, had to face a lot of strikes in the early months of 2008. For the company, these strikes would be an example of a(n) _____. threat 52. The goal of a SWOT analysis is to: identify those criti- cal factors that can have a major effect on the firm. 53. Traveller's Plan LLC has been aggregating prospec- tive buyers into groups that have common needs and will respond similarly to a marketing action. Which of the following is Traveller's Plan's undertaking? market segmenta- tion 54. A toothbrush manufacturer sells several lines of toothbrushes, which include a line for small children, one for people with gum problems, and one for people who wear dentures. Offering these different product lines is the result of _____. market segmenta- tion 55. 7 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 In order to remain better than its substitutes, Wines United employs at its stores wine tasters who help to choose the best wines for the stores. This gives Wines United a _____ over the other wine sellers. competitive ad- vantage 56. Quick Read, a company that rents books by mail using the Internet, stepped into an industry where no lead- ers existed. This situation proved to be an opportunity for Quick Read to establish a loyal clientele through reliable shipment of books overnight. This delivery system gave Quick Read its _____. competitive ad- vantage 57. At which step of the planning stage of the strategic marketing process does a firm develop the program's marketing mix? marketing pro- gram 58. According to the users, uniqueness of their flavours makes the brand superior to other cake mixes. This gives Cakesandbakes a _____. competitive ad- vantage 59. What element of the marketing program was consid- ered when the owner of Cakesandbakes decided ini- tially to market the cake mixes in a limited number of organic food stores? place 60. Which element of the marketing program was consid- ered when the company's owner decided to add mixes that are low in fat and sugar? product 61. The marketing plan gets carried out in the _____ phase of the strategic marketing process implementation 62. Obtaining resources is a key activity in the _____ phase of the strategic marketing process. implementation 63. Developing schedules is a key activity in the _____ phase of the strategic marketing process. implementation 64. Game Zoner, a manufacturer of toys, introduced and rushed to market a new gaming console to counter the implementa- tion phase 8 / 10

MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 the other existing players in the market. But soon, complaints about incorrect programming of the con- sole started pouring in. In which phase of the strategic marketing process did Game Zoner's strategy fail? 65. A marketing _____ is defined as the means by which a marketing goal is to be achieved. It is characterized by a specified target market and the marketing program used to reach that target market. strategy 66. Which of the following statements reflects both of the key elements in developing a marketing strategy for a company that produces specialized concrete sur- faces for heavily trafficked areas such as retail outlets and amusement parks? Communicate us- ing direct mail about the vari- ous walking sur- faces the company can create for con- tractors who are building riding and walking paths. 67. Marketing tactics include the: detailed day-to-day operational decisions essential to the overall success of marketing strategies. 68. The difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place is called _____. the planning gap 69. Weredeth University voted to have one Internet con- nection for each student by the end of academic year 2009-2010. In 2002, there was one connection for every 35 students. In 2005, there was one connection for every 8 students. Putting a more realistic target date of an Internet connection for each student meant the goal would not be achieved until the end of 2013. the planning gap 9 / 10

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MKTG Ch 14 TEST BANK Study online at https://quizlet.com/_26sse0 The difference between the new projections and the original projections is called _____. 70. After examining a planning gap, firms typically at- tempt to: revise the market program and set new goals. 10 / 10

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