Exam 1 Remaining

Question 1

What are the 4 eras in American business history (AKA Evolution of the Market Orientation)

Answer 1

Production, Sales, Marketing Concept, Customer Relationship Era

Question 2

Which Era lasted up until the 1920s?

Answer 2

The Production Era

Question 3

Which Era lasted from 1920s to 1960s?

Answer 3

The Sales Era

Question 4

Which Era Started in the late 1950s?

Answer 4

Marketing Concept Era

Question 5

Which Era started in the 1980s?

Answer 5

Customer Relationship Era

Question 6

3 ways to measure success of non-profit orgs?

Answer 6

Define mission narrowly, Perform research, and Develop ‘microlevel’ goals

Question 7

What does each letter represent with respect to SMART goals?

Answer 7

Specific, Measurable, Attainable, Relevant, and Time-based

Question 8

Concept: Quatify performance of SBUs on growth share matrix.

Answer 8

Business Portfolio Analysis

Question 9

Concept: Search for new opportunities among current and new products, current and new markets.

Answer 9

Diversification Analysis

Question 10

On the growth share matrix, Dogs have ____ relative market share and ____ market growth rate

Answer 10

Low, Low

Question 11

On the growth share matrix, Stars have ____ relative market share and ____ market growth rate

Answer 11

High, High

Question 12

On the growth share matrix, Cash Cows have ____ relative market share and ____ market growth rate

Answer 12

High, Low

Question 13

On the growth share matrix, “?’s” have ____ relative market share and ____ market growth rate

Answer 13

Low, High

Question 14

Diversification Analysis: Alternative market-product strategy that combines a CURRENT product and a CURRENT market is called:

Answer 14

Market Penetration

Question 15

Diversification Analysis: Alternative market-product strategy that combines a CURRENT product and a NEW market is called:

Answer 15

Market Development

Question 16

Diversification Analysis: Alternative market-product strategy that combines a NEW product and a CURRENT market is called:

Answer 16

Product Development

Question 17

Diversification Analysis: Alternative market-product strategy that combines a NEW product and a NEW market is called:

Answer 17

Diversification

Question 18

What are the steps in the planning phase of the strategic marketing process?

Answer 18

Situational Analysis (SWOT), Market-Product focus and goal-setting, Marketing Program

Question 19

What does SWAT stand for during the Situational Analysis in the planning stage of the strategic marketing process?

Answer 19

Strengths, Weaknesses, Opportunities, Threats

Question 20

Name some activities performed in the Implementation phase of the strategic marketing process:

Answer 20

Obtaining resources, developing planning schedule, marketing strategy, Designing the Marketing organization, Executing the marketing program, Marketing Tactics

Question 21

Name the 3 steps in “How Strategy Happens”

Answer 21

Establish foundation, Set direction, and Create strategies

Question 22

Name all 5 Environmental trends:

Answer 22

Social, Economic, Technological, Competitive, Regulatory

Question 23

_____ culture & norms affect ethical and legal relationships

Answer 23

Societal culture

Question 24

_____ culture defines the ‘rules of the game’, the ‘fine lines’ between competitive and unethical conduct

Answer 24

Business Culture

Question 25

_____ culture is a set of values, ideas and attitudes that is learned and shared among members of an organization

Answer 25

Corporate Culture

Question 26

What term means ‘buyer beware’

Answer 26

Caveat Emptor

Question 27

Concept: Ethical choices are all filtered through personal moral philosophies of individual decision-makers

Answer 27

Individual Philosophy

Question 28

______ Philosophy derives from socialization, family, friends, and formal education; & Influenced by society and business and corporate culture of the moment

Answer 28

Moral Philosophy

Question 29

Certain individual right/duties considered to be universal, no matter the outcome.

Answer 29

Moral Idealism

Question 30

Believe “The greatest good for the greatest number. If Benefit > Cost, behavior is ethical

Answer 30

Utilitarianism

Question 31

Term: Recognition of the need for orgs to improve the state of people, planet and profit simultaneously if they are to achieve sustainable, long-term growth

Answer 31

Triple-Bottom Line

Question 32

Concept: Triple Bottom-Line recognizes the need of organizations to improve what 3 things?

Answer 32

People, the Planet and Profit

Question 33

Concept: What are the 3 concepts of Social Responsibility?

Answer 33

Profit Responsibility, Stakeholder Responsibility, and Societal Responsibility

Question 34

Term: Marketing efforts to produce, promote, and reclaim environmentally sensitive products:

Answer 34

Green Marketing

Question 35

Term: Charitable contributions of a company are directly tied to customer revenues from its products.

Answer 35

Cause Marketing

Question 36

Term: To develop, implement and evaluate a company’s social responsibility efforts; A systematic assessment of an orgs objectives, strategies, and performance, in terms of social responsibility.

Answer 36

Social Audit

Question 37

Concept: Conducting business in ways that protect the natural env. while making economic progress

Answer 37

Sustainable Development

Question 38

Term/Concept: The criteria established by the International Fair Trade Labeling Organization for agricultural commodities.

Answer 38

Fair Trade