STR/581 STR581 FINAL EXAM (CAPSTONE, 30/30), PART 3, WEEK 6

| July 29, 2018

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

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