Honors Marketing QUIZ 2 – Flashcards

Ben & Jerry's is founded on and dedicated to a sustainable corporate concept of linked prosperity. Its mission statement consists of three interrelated parts, which are: A) quality, service, and profit. B) product, service, and technology. C) product, economic, and social. D) quality, service, and profit. E) economic, social, and technology.

The money left over after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings is referred to as: A) shareholder equity. B) profit. C) net sales. D) contribution margin. E) customer value.

Organizational strategies vary in at least two significant ways. These include by __________ and by __________. A) level; offering B) sales; market share C) mission; vision D) product; service E) core values; goals

Medtronic is the world leader in producing and marketing heart pacemakers and other medical devices. All of the following are stakeholders of Medtronic EXCEPT: A) employees. B) customers. C) retailers. D) government regulators like the Food and Drug Administration (FDA). E) the community where Medtronic is headquartered.

The information about an organization's marketing metrics graphically so marketers can quickly (1) spot deviations from plans and (2) take corrective actions is referred to as: A) a marketing dashboard. B) a marketing plan. C) a planning gap. D) a Gantt chart. E) data visualization.

In the Boston Consulting Group (BCG) business portfolio analysis model that assesses a firm's strategic business units (SBUs), the vertical axis of this growth-share matrix represents the: A) return on investment in percentage terms. B) market growth rate. C) market segment size. D) relative market share. E) firm's estimated sales growth.

Market penetration refers to the marketing strategy of: A) selling new products to current markets. B) selling current products to new markets. C) increasing sales of current products in current markets. D) acquiring other companies to develop new products. E) developing new products and selling them in new markets.

Diversification refers to the marketing strategy of: A) selling new products to current markets. B) selling current products to new markets. C) increasing sales of current products in current markets. D) acquiring other companies to develop new products. E) developing new products and selling them in new markets.

A toothbrush manufacturer sells several lines of toothbrushes. One line is for small children, another line is for people with gum problems, and still another is for people who wear dentures. These different products are targeted toward different groups based on decisions resulting from the process of: A) product differentiation. B) market analysis. C) market segmentation. D) distinctive competencies. E) organizational opportunities.

At one point in time, Kodak had a very flat level of sales revenue. The CEO did not like the no-growth results so he told top management to develop a new set of strategies to increase sales revenues based on based on new plans and actions. The difference between the existing flat level and the projected increased level of sales revenue is known as the: A) evaluation gap. B) strategy wedge. C) breakeven point. D) planning gap. E) implementation gap.