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| In marketing, an organization refers to |
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| A business firm refers to |
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| A __________ is a nongovernmental organization that serves its customers but does not have profit as an organizational goal. |
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| Which statement best describes the most significant difference between a business firm and a nonprofit organization? |
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| The corporate level refers to the level in an organization where top management |
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| The person most likely to oversee product planning and positioning, as well as coordinate public relations initiatives, would most likely be the responsibilities of the __________. |
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| The level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities is referred to as the |
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| Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, or research and development) at the __________ level, where groups of specialists actually create value for the organization. |
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| The functional level in an organization is where |
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| People in the finance and the human resources departments traditionally operate at what organizational level? |
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| At the functional level, the marketing department |
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| A key role of the marketing department is to “look outward.” This is accomplished by |
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| When developing marketing programs for new offerings, marketing may provide staff to serve as part of a(n) __________, which consists of a small number of people from different departments who are mutually accountable to accomplish a task or a common set of performance goals. |
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| Today’s organizations must be visionary—that is, they must |
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| In marketing, the philosophical reason for a firm’s existence is referred to as its organizational __________. |
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| An organization’s foundation includes all of the following EXCEPT: |
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| An organization’s __________ are the fundamental, passionate, and enduring principles that guide its conduct over time. |
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| Which of the following statements regarding an organization’s core values is most accurate? |
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| The term that links the employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers is |
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| Which of the following statements regarding stakeholders is most accurate? |
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| An organization’s mission refers to |
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| The terms __________ and a mission statement are often used interchangeably |
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| A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its ___________. |
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| Which of the following statements regarding organizational culture is most accurate? |
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| The organizational __________ answers the question, “What will we do?” |
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| The clear, broad, underlying industry or market sector of an organization’s offerings is referred to as (a) __________. |
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| In the 20th century, railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than a broader definition that encompassed __________. |
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| Many small bookstores, and even large ones like Borders and Bookstar, have closed. Subscribers to newspapers and magazines have cancelled their print subscriptions. This trend has caused retailer Barnes & Noble to offer the Nook, a digital e-reader for $99 and newspaper publishers such as the StarTribune to offer online content for $1.99 per week because of the success of Apple’s iPad and Amazon’s Kindle, which display digital content in a very user-friendly experience. Barnes & Noble and the StarTribune MOST LIKELY had to change their __________, which was(were) triggered by the technological and social changes that occurred in their marketing environments. |
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| Since its launch, Netflix has changed its “business model” in order to |
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| When the company Netflix first began, it wasn’t as successful as expected. This was because |
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| The terms “goal” and “objective” are often used interchangeably. However, in both cases, which of the following statements would be most accurate? |
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| Classic economic theory assumes a firm seeks to maximize its long-run __________, achieving as high a financial return on its investments as possible. |
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