question

Inexperienced managers would be considered what in a SWOT analysis

answer

weakness

question

An organization whose primary organizational goal is operational efficiency or client satisfaction would be classified as a(n)

answer

nonprofit organization

question

Profit

answer

is the money left over after a business form's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings

question

Industry

answer

a group of organizations that develop similar offerings

question

What is essential to recognize when determining organizational strategy?

answer

An organization has limited resources which must be focused on achieving goals

question

Which of the following are the three levels of strategy in organizations?

answer

Corporate, Strategic business-unit, and functional

question

T/F: Marketing strategy is a tool that allows marketers to understand how forces in the environment will impact the organization in the future

answer

False

question

The marketing department is part of the _______ level, in terms of strategy within an organization

answer

functional

question

Which two of the following are true of a visionary organization's foundation?

answer

it provides guidance and inspiration to its employees it explains why an organization exists

question

An organization's core values are best described as the

answer

enduring principles that guide its conduct over time

question

Government agencies

answer

The census Bureau and the U.S. Department of commerce are examples of

question

Strategies

answer

A visionary organization first examines its organizational direction to determine its organizational

question

Southwest Airlines' ___ is to be dedicated "to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit."

answer

mission

question

___ often triggers a business model change, as it has fro American newspapers and book retailers.

answer

Technology innovation

question

The ___ phase of the strategic marketing process usually results in a ___ that sets the direction for the marketing activities of an organization

answer

planning; marketing plan

question

What is unique strength relative to competitors, often based on quality, cost, or innovation referred to as?

answer

competitive advantage

question

The market-product focus and goal setting part of the planning phase of the strategic marketing process includes which of the following?

answer

positioning the product

question

The marketing program includes developing the marketing mix and

answer

its budget

question

Writing ads and setting prices are examples of which of the following?

answer

marketing tactics

question

Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the

answer

evaluation phase

question

Marketing expertise is gained

answer

by even the average person, who has a great deal of shopping experience

question

Marketing is the activity for creating, communicating, ____ offerings that benefit customers, the organization, its stakeholders, and society at large

answer

and delivering

question

The goal of marketing is to both ___ the needs of prospective customers

answer

discover and satisfy

question

The 4 P's of the marketing mix include product, price, place, and

answer

promotion

question

The uncontrollable forces in a marketing decision involving social, economic, technological, competitive and regulatory forces are referred to as

answer

environmental forces

question

The concept of _____ links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.

answer

relationship marketing

question

Market segments are homogeneous in two ways: prospective buyers have common needs and they

answer

will respond similarly to marketing action

question

The marketing concept is the idea that an organization should strive to satisfy the needs of consumers

answer

while also trying to achieve the organization's goals

question

Social responsibility refers to

answer

the belief that organizations are accountable to a larger society for their actions

question

The primary difference between a good and a service, both of which are products to the marketer, is that a good is ____ and a service is _____.

answer

a physical object; intangible

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