Marketing Final In class we heard that recent changes at HP Hewlett Packard Computer Company have produced a lack of clarity over the company s plans This relates strongly to the importance of a firm s strategy to its success Visa creates an emotional evoking ad for the Olympics emphasizing the success of athletes at the games and suggesting that their success reflects the success of all humanity The tag line is GO WORLD and they close with the statement that Visa is the only card accepted at the Olympics In this ad what is the focus of the message An Idea we should all appreciate and be united by the athletes at the games Which of the following brands would be a Cash Cow for Coca cola Coke Classic Which of the following would NOT be an environmental factor affecting the organization Quality control problems on a production machine In the famous Marketing Myopia article argues that senior managers of 20th century American railroads defined their business too narrowly Theodore Levitt The terms goal and objective are often used interchangeably However in both cases which of the following statements would be most accurate Goals convert an organization s mission and business into long and short term performance targets Large organizations are extremely complex They usually consist of organizational levels whose strategies are linked to marketing three An organization s foundation can be broken into three key elements They are core values mission vision and organizational culture Market segmentation refers to aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action The fundamental passionate and enduring principles of an organization that guide its conduct over time are referred to as its core values GoToMeeting com creates a television commercial in which they show people who are frustrated with having to waste time and money to travel to meetings Instead they can use GoToMeeting com and connect over the internet What is being marketed in this commercial A Service Based on the lecture what do you want to do if your SWOT analysis finds a weakness inside your organization Once discovered you should work to convert weaknesses to strengths Which of the following would NOT be an environmental factor affecting the organization Quality control problems on a production machine The marketing strategy of selling new products to current markets is referred to as product development Which of the following is an example of time utility Goodwill that has a 24 hour drop off box for clothing donations Marketing tactics refer to the detailed day to day operational decisions essential to the overall success of marketing strategies Business firms pursue several different types of goals A n goal is when a firm seeks to balance the conflicting goals of stakeholders to promote their overall welfare even at the expense of profits Social Responsibility The Hermitage a famous Russian art museum was suffering financial difficulties as the result of lost funding and a decrease in tourists The decrease in visitors is blamed on a lack of awareness of the treasures contained in the museum As a result the Hermitage s director used a strategic alliance with IBM to create a website where people can go and view some of the wonders of the Hermitage in an online virtual tour The hope is that this sampling of paintings sculptures etc will encourage visitors to make a trip to the Hermitage and spend some money there to cover the costs of its operations The Hermitage is a n that uses online virtual tours to market itself worldwide Service The American Red Cross created a series of advertisements to encourage people to donate blood After viewing an ad Amanda went to the local Red Cross office and donated a pint of her blood Amanda returned home feeling happy that she had performed a good deed Was this an exchange in a marketing sense Yes because the donated blood was exchanged for a feeling of satisfaction In class we heard about research from Ace Metrix into Super Bowl commercials It is not surprising to learn that the top 10 most effective commercials in recent Super Bowls have used humor and or animals When it comes to using SWOT analysis in the real business world Fred Hunt Director of Marketing for Sherwin Williams tells us Few techniques from the MBA are used more than SWOT analysis We have several video guest lecturers for the class One of these is Tim Apel with AAA Mobile homes Which of the following best describes his organization Family entrepreneurship selling a product Market share is the ratio of sales revenue of the firm to the total sales revenue of all including the firm itself firms in the industry Social responsibility is the idea that individuals and organizations are accountable to a larger society The terms goal and objective are often used interchangeably However in both cases which of the following statements would be most accurate Goals convert an organization s mission and business into long and short term performance targets The acronym SWOT in the term SWOT analysis stands for strengths weaknesses opportunities and threats Which of the following statements about relationship marketing is most accurate Relationship marketing is more effective when there is a personal ongoing relationship between an organization s employees and its customers in the selling and buying organizations In keeping with its business mission Ben Jerry s believed that people should get their fair share of the pie and as a result practices Fair Trade certified sourcing Dan Muller President of Distribution and Services at Timken explained to us that Timken s Mission used to be World wide Leader in Bearings and Steel They revised this to be Improving Customer Performance Was this a good move Yes because it allows them to think out of the box about how to provide value to their customers Playaz Circle a rap duo signed to a subsidiary of Def Jam had a successful single Duffle Bag Boy Def Jam invested in them and their album which was a flop From the perspective of the BCG Portfolio matrix Def Jam should Seriously consider disinvesting from Playaz Circle It seems likely they will become a Dog Which of the following would NOT be an environmental factor affecting the organization Quality control problems on a production machine A business refers to the clear broad underlying industry or market sector of an organization s offering A growing trend to Buy American has caused