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STR 581 Week 6 Capstone Final Examination, Part 3

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Question;1. The ability to meet humanity?s needs without;harming future generations is now a top priority in most corporate agenda;ethics;rules;sustainability;righteousness;2. This is a historically popular technique;through which managers create a quick overview of a company's strategic;situation?it is based on achieving a sound fit between internal resources and;the external situation.;External analysis;Value chain analysis;Internal analysis;SWOT analysis;3. New-to-the-world products are ________.;new products that create an entirely new market;existing products that are targeted to new;geographical markets;low-cost products designed to obtain an edge in;highly competitive markets;new product enhancements that supplement established;products;4. Prestige LLC, a small company that;manufactures specialty cereals and energy bars, wants to launch a "green;marketing" program in response to heightened consumer awareness about;environmental issues. What should the company do to maximize the program's;chances of being successful?;Demonstrate that the products will benefit both;customers and the society in the long-term.;Focus on the efforts and costs incurred by the;company to bring these "green" products to consumers.;Emphasize benefits to the consumer rather than;environmental benefits.;Explain the rules and regulations laid out by;governmental agencies to protect the environment.;5. BMW's "The ultimate driving;machine," American Express' "Don't leave home without it," New;York Times' "All the news that's fit to print," and AT&T's;Reach out and touch someone" are all examples of ________.;brand personality;brand slogan;brand vision;brand mission;6. A company that attempts to lead its;industry in price and convenience by pursuing a focus on lean and efficient;operations is pursuing what strategy?;Product leadership;Operational excellence;Customer intimacy;Low-cost leadership;7. This is an important structural decision;and resultant separate activities need to be coordinated and integrated back;together as a whole so the business functions effectively.;Preferencing;Differentiation;Diversification;Broadening;8. Marketers need to identify the hierarchy of;attributes that guide consumer decision making in order to understand different;competitive forces and how these various sets get formed. This process of;identifying the hierarchy is called ________.;market valuation;market partitioning;brand association;market estimation;9. When performing this analysis, it is good for;strategic planners to consider similarities between the benefits the customers;derive from the products and services that other firms offer.;Company analysis;Customer analysis;Competitive analysis;Business analysis;10. Leaders galvanize commitment to embrace;change through clarifying strategic intent, building an organization, and;shaping organizational culture;developing a mission;developing a vision;planning strategy;11. Large-scale, future-oriented plans for;interacting with the competitive environment to achieve the company objective;refers to its;goals;strategy;competitive analysis;dynamic policies;12. Under which of the following conditions is;the frequency the most important factor in media selection?;When there is high consumer resistance to the;product;When going into undefined target markets;When introducing flanker brands;When launching infrequently purchased brands;13. Which component of a marketing audit;includes major developments in income, prices, savings, and credit that affect;the company?;Economic;Cultural;Political;Technological;14. This is designed to check systematically;and continuously whether the premises on which the strategy is based are still;valid;Strategic surveillance;Premise control;Implementation control;Special alert control;15. With ________ as a target market strategy;the firm concentrates on serving many needs of a particular customer group.;product specialization;selective specialization;single-segment concentration;market specialization;16. What is the perceived monetary value of;the bundle of economic, functional, and psychological benefits customers expect;from a given market offering because of the product, service, people, and;image?;Complete marketing benefit;Ultimate service benefit;Total customer benefit;Total management benefit;17. These social responsibilities are those;that are voluntarily assumed by a business or organization. They include public;relations activities, good citizenship, and full corporate social;responsibility.;Economic responsibility;Employee responsibility;Legal responsibility;Discretionary responsibility;18. When diversification involves additions of;a business related to the firm in terms of technology, markets or products, it;involves;concentrated growth;vertical diversification;concentric diversification;horizontal integration;19. One of the ways to change the course of a;brand is to modify the product. Under product modification, ________ adds size;weight, materials, supplements, and accessories that expand the product?s;performance, versatility, safety, or convenience.;feature improvement;style improvement;technological improvement;quality improvement;20. Firms using this generic strategy attempt;to build customer loyalty by stressing a specific product attribute above other;product qualities.;Differentiation;Focus;Cost leadership;Concentrated growth;21. A set of ideas on organizational control;based on the belief that the separation of the ownership from management;creates the potential for the wishes of owners to be ignored refers to;Adam?s theory;the moral hazard problem;agency theory;ethical responsibilities;22. A firm must know where to position its;product based on price and;Quality;region;communication;promotional efforts;23. A valuable result of task environment;analysis with respect to geographic, demographic, psychographic and;buyer-behavior factors is called;vendor profile;financial position;competitor profile;customer profile;24. Which control should periodically reassess;its approach to the marketplace with a good marketing audit?;Ethical control;Performance control;Marketing control;Strategic control;25. The strategic factor that involves the beliefs;values, attitudes, opinions, and lifestyles of persons in the firm?s external;environment, as developed from cultural, ecological, demographic, religious;educational, and ethnic conditioning.;Social factor;Stakeholder factor;Political factor;Economic factor;26. A company can learn a great deal by;analyzing the degrees of brand loyalty. For example, ________ can show the firm;which brands are most competitive with its own.;switchers;shifting loyals;hard-core loyals;split loyals;27. How do functional tactics compare to;business strategies?;Functional tactics are more focused on the general;direction of the firm than business strategies.;Functional tactics are more long-term than business;strategies.;Functional tactics are more focused on a commitment;to corporate strategy than business strategies.;Functional tactics are more specific than business;strategies.;28. Company X's principal strength is its;inbound and outbound logistics system, its relative weakness, however, is;after-sales service. Its competitor, Company Y, however is often plagued with;lagging shipments and an inflexible distribution setup. Company Y remains;successful because it maintains a fully staffed service department and, as a;result, the company is known for its dependable service. This type of analysis;allows them to identify ways to build on relative strengths and avoid dependence;on capabilities at which the other firm excels.;Industry comparison;Past performance comparison;Benchmarking;Disaggregating;29. The marketing manager needs to know the;cost of the research project before approving it. During which stage of the;marketing research process would such a consideration most likely take place?;Step 1 ? defining the problem;Step 4 ? analyzing the information;Step 5 ? drafting the report;Step 2 ? developing the research plan;30. What type of strategy consists of;geographical pricing, price discounts and allowances, promotional pricing, and;differentiated pricing?;Fixed pricing;Altered pricing;Regular prices;Price adaptation

 

Paper#47450 | Written in 18-Jul-2015

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