- Which level of strategy provides direction on the company’s mission, the kinds of businesses it should be in, and its growth policies?
A. Business-level strategy
B. Corporate strategy
C. Marketing strategy
D. Service strategy
B. Corporate strategy (Corporate - policies)
- What component of strategy involves detailing the desired levels of accomplishment on one or more performance dimensions over specified time periods for the organization as a whole?
A. Scope of an organization
B. Resource deployments
C. Identifying a sustainable competitive advantage
D. Goals and objectives of an organization
D. Goals and objectives of an organization
Goals and objectives - accomplishment
- (p. 8) What question needs to be specifically addressed while developing a business strategy?
A. What business are we in?
B. What business should we be in?
C. What portion of our total resources should we devote to each business to achieve overall goals and objectives?
D. What distinctive competencies can give the business unit a competitive advantage?
D. What distinctive competencies can give the business unit a competitive advantage?
(business strategy - distinctive competencies)
- (*) What is primary focus of marketing strategy?
A. Decisions about the organization’s scope and resource deployments across divisions
B. Effective allocation and coordination of resources to meet organizational objectives within a specific product-market
C. Addressing which competitive advantage best matches the needs and wants of the customers in the target segment
D. How a business unit competes within its industry
B. Effective allocation and coordination of resources to meet organizational objectives within a specific product-market
(“primary” focus - “Effective” allocation and coordination of resources)
- (*) Which of the following falls within the scope of corporate strategy?
A. Target market definition
B. Vertical integration
C. Branding policies
D. Line extension
B. Vertical integration (scope of corporate)
- Decisions about the organization’s scope and resource deployments across its divisions or businesses are the primary focus of _____ strategy.
A. business
B. corporate
C. marketing
D. functional
B. corporate (scope and resource deployments)
- This observation concerning market-oriented firms is incorrect.
A. They are characterized by a consistent focus on customers’ needs by personnel in all departments
B. They adapt product offerings to the special needs of different target markets
C. They are slower and less willing to adapt products and functional programs to fit environmental changes
D. They adopt a variety of organizational procedures to improve the responsiveness of decision making
C. They are slower and less willing to adapt products and functional programs to fit environmental changes
(slower and less willing)
- Why are early entrants into newly emerging industries, particularly industries based on new technologies, especially likely to be internally focused and not very market-oriented?
A. Strong competition during the formative years
B. Rapid growth in demand for the new product
C. Customer demand less than available supply
D. Resource constraints are rarely an immediate threat to survival
B. Rapid growth in demand for the new product
internally focused - Rapid growth in demand
(nhu cầu mua cao rồi thì k cần market-oriented nữa)
- The tendency for firms to automatically continue strategies that were successful in the past, even though current market conditions are changing, is referred to as
A. Marketing myopia
B. Strategic inertia
C. Cognitive dissonance
D. Law of probability
B. Strategic inertia
inertia: sự trì trệ - continue strategies that were successful in the past
- (*) Product-oriented firms
A. Are primarily concerned with the marketing concept
B. Are likely to be internally focused
C. Have broad product lines
D. Consider credit a customer service
B. Are likely to be internally focused
“product” - “internally” focused
- (*) Which of the following approaches characterize a production-oriented organization?
A. Pricing based on perceived benefits provided
B. Applying new technology to satisfy customer needs
C. Company makes what can be sold
D. Primary focus on functional performance and cost
D. Primary focus on functional performance and cost
“production”-oriented - Primary focus on “functional”
- (*) What characterizes a market-oriented organization?
A. Narrow product lines
B. Packaging designed for customer convenience
C. Technical research and focus on cost cutting in the production process
D. Emphasis on product features, quality, and price
B. Packaging designed for customer convenience
“market”-oriented - Packaging “designed”
- Matrix Computer Inc.’s focus on large organizational customers caused the company to devote too little effort to the fast growing segment of small technology start-ups. This example illustrates that the firm
A. Was prone to strategic inertia
B. Can be classified as a drifting organization
C. Emphasized the usage of an adaptive strategic planning process
D. Implemented market-oriented concepts
A. Was prone to strategic inertia (little effort to the fast growing segment of…)
- Dell attempted to maintain its long-standing low-cost position by reducing the number of technicians in its customer call centers. As a result, increasing number of customers spent 30 minutes or more on hold before they found a technician to solve their problem. This affected Dell’s customer satisfaction rating in the United States and its sales and profit growth stagnated. This scenario highlights
A. The increased importance of service
B. Strategic inertia
C. The company’s market-orientation focus
D. The impact of information technology
A. The increased importance of service
increased importance of service - increasing number of customers spent 30 minutes or more…
- Identify the incorrect statement concerning services.
A. Services are the fastest-growing sector of developed economies
B. Good services improve customer loyalty over the long term
C. Intangible nature of services creates unique challenges for marketers
D. Efficient services are always tied to a physical product
D. Efficient services are always tied to a physical product
incorrect - “always”
- E-tailers such as Amazon and iTunes are examples of firms in this e-commerce category.
A. Business-to-Business
B. Consumer-to-Business
C. Business-to-Consumer
D. Consumer-to-Consumer
C. Business-to-Consumer (Amazon and iTunes)
- Marketers have identified 4Cs critical to a good strategic marketing plan. Which of the following is not one among them?
A. Company
B. Context
C. Contacts
D. Customers
C. Contacts
- A distinct subset of people with similar needs, circumstances, and characteristics that lead them to respond in a similar way to a particular product or service offering is known as a
A. Market segment
B. Target market
C. Penetrated market
D. Marketing mix
A. Market “segment” (“similar” needs, circumstances, and characteristics)
- (*) Which of the following is considered an important tool for communicating and coordinating expectations and responsibilities throughout the firm?
A. Value statement
B. Written marketing plan
C. Detailed market analysis
D. Positioning statement
B. Written marketing plan (communicating and coordinating expectations and responsibilities throughout the firm)
- (*) Which of the following is not part of a marketing plan?
A. Guidelines for objectives
B. Information about the external environment
C. An assessment of future trends affecting the product
D. Designation of resource allocations
C. An assessment of future trends affecting the product
(not part of a marketing plan - future trends affecting the product)
(marketing plan: Guidelines for objectives, external environment, Designation of resource allocations)
- Which of the following statements is consistent with the marketing orientation?
A. Pricing is based on production and distribution costs
B. Pricing is based on perceived benefits the product provides.
C. Credit is a necessary evil.
D. Promotion should emphasize product features
B. Pricing is based on perceived benefits the product provides.
(marketing orientation - “Pricing” is based on “perceived benefits”)
- In terms of e-commerce, e-Bay is mostly an example of:
A. Business to Consumer B. Consumer to Business C. Consumer to Consumer D. all of the above E. A. and C. above
E. A. and C. above
e-Bay
- > Business to Consumer
- > Consumer to Consumer
