Onlysolutionz

Learning Made Easy!

header photo

STR/581 WEEK 6 FINAL EXAM CAPSTONE PART 3

April 7, 2015

STR/581 WEEK 6 FINAL EXAM CAPSTONE PART 3 is available for $15 only !

 

Description:

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?

·       

Operational excellence

Customer intimacy

Product leadership

Low-cost leadership

 

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 ________.

brand association        

market valuation

market estimation

market partitioning

 

Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?

Technological

Cultural

Political

Economic

 

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

ethical responsibilities

the moral hazard problem

Adam’s theory

agency theory

 

What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?

Fixed pricing

Price adaptation

Regular prices

Altered pricing

 

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.

style improvement

technological improvement

quality improvement

feature improvement

 

Under which of the following conditions is the frequency the most important factor in media selection?

When launching infrequently purchased brands

When going into undefined target markets

When there is high consumer resistance to the product

When introducing flanker brands

 

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.

shifting loyals

switchers

split loyals

hard-core loyals

 

Large-scale, future-oriented plans for interacting with the competitive environment to achieve the company objective refers to its

 goals

strategy

dynamic policies

competitive analysis

 

New-to-the-world products are ________.

low-cost products designed to obtain an edge in highly competitive markets

new product enhancements that supplement established products

new products that create an entirely new market

existing products that are targeted to new geographical markets

 

 

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 2 – developing the research plan

Step 4 – analyzing the information

Step 1 – defining the problem

Step 5 – drafting the report

 

 

This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid

Strategic surveillance

Implementation control

Special alert control

Premise control

 

A firm must know where to position its product based on price and 

communication

region

promotional efforts

Quality

 

Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities.

Focus

Differentiation

Concentrated growth

Cost leadership

 

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 vision

·        

brand mission

·        

brand slogan

·        

brand personality

 

 

The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda

·        

righteousness

·        

rules

·        

ethics

·        

sustainability

 

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?

·        

Emphasize benefits to the consumer rather than environmental benefits.

·        

Explain the rules and regulations laid out by governmental agencies to protect the environment.

·        

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.

 

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.

·        

Economic factor

·        

Stakeholder factor

·        

Political factor

·        

Social factor

 

How do functional tactics compare to business strategies?

·        

Functional tactics are more specific than business strategies.

·        

Functional tactics are more focused on the general direction of the firm than business strategies.

·        

Functional tactics are more focused on a commitment to corporate strategy than business strategies.

·        

Functional tactics are more long-term than business strategies.

 

 

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?

·        

Total customer benefit

·        

Total management benefit

·        

Ultimate service benefit

·        

Complete marketing benefit

 

 

__________ social responsibilities are voluntarily assumed by a business or organization, and include public relations activities, good citizenship, and full corporate social responsibility.

·        

Legal

·        

Employee

·        

Economic

·        

Discretionary

 

 

A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called

·        

competitor profile

·        

financial position

·        

customer profile

·        

vendor profile

 

 

When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves

·        

concentrated growth

·        

concentric diversification

·        

vertical diversification

·        

horizontal integration

 

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.

·        

Internal analysis

·        

External analysis

·        

SWOT analysis

·        

Value chain analysis

 

Which control should periodically reassess its approach to the marketplace with a good marketing audit?

·        

Strategic control

·        

Marketing control

·        

Ethical control

·        

Performance control

 

 

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.

·        

Competitive analysis

·        

Company analysis

·        

Customer analysis

·        

Business analysis

 

 

Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and

·        

developing a mission

·        

shaping organizational culture

·        

planning strategy

·        

developing a vision

 

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

·        

single-segment concentration

·        

product specialization

·        

selective specialization

·        

market specialization

 

 

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.

·        

Differentiation

·        

Preferencing

·      

Broadening

·        

Diversification

 

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.

·        

Benchmarking

·        

Industry comparison

·        

Past performance comparison

·        

Disaggregating

 

 

 

 

 

Go Back

Comment