Marketing - Notes 14-16

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hillary410
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262340
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Marketing - Notes 14-16
Updated:
2014-02-17 02:09:51
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Marketing
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Marketing
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  1. As a marketer, you have already defined the scope of a scenario analysis. What
    should you do next?

    A)develop comprehensive scenarios
    B)analyze selected scenarios
    C)identify industry drivers
    D)choose a specific time frame
    C)identify industry drivers
    (this multiple choice question has been scrambled)
  2. When
    developing scenarios for analysis and planning, it is best to choose ________
    within each driver.

    A)a single level
    B)all possible levels
    C)the most likely levels
    D)a few different levels
    D)a few different levels
    (this multiple choice question has been scrambled)
  3. The
    scenario analysis process should result in ________ and ________ for each
    scenario.

    A)drivers; strategies
    B)strategies; tactics
    C)drivers; tactics
    D)futures; realities
    B)strategies; tactics
    (this multiple choice question has been scrambled)
  4. Managerial
    philosophies that determine corporate priorities and problem-solving methods
    are referred to as ________.

    A)functions
    B)resources
    C)orientations
    D)benchmarks
    C)orientations
    (this multiple choice question has been scrambled)
  5. A
    firm with a market orientation most likely coordinates its strategies and
    activities around ________ and ________.

    A)employees; consumers
    B)sales; profits
    C)market share; quality
    D)customers; competitors
    D)customers; competitors
    (this multiple choice question has been scrambled)
  6. The
    ________ orientation of the mid-twentieth century led firms to focus on
    "making marketable products."

    A)customer
    B)managerial
    C)sales
    D)strategic
    C)sales
    (this multiple choice question has been scrambled)
  7. A
    lonely consumer who is too busy meeting critical needs to think about having a
    social life most likely has a(n) ________.

    A)apparent want
    B)motive
    C)latent need
    D)unrecognized want
    C)latent need
    (this multiple choice question has been scrambled)
  8. Effective
    marketing strategies are most likely consistent with all of the following
    EXCEPT ________.

    A)internal demands
    B)core competencies
    C)environmental opportunities
    D)long-term visions
    A)internal demands
    (this multiple choice question has been scrambled)
  9. Which
    of the following tools would most likely be used when determining how a firm
    will serve customers and their needs?

    A)portfolio analysis 
    B)value chain analysis
    C)client surveys
    D)pricing matrix
    B)value chain analysis
    (this multiple choice question has been scrambled)
  10. While
    developing a comprehensive marketing strategy, a firm needs to determine where
    it will conduct business. Which tool would be most useful?

    A)experience curve matrix
    B)SWOT analysis
    C)product-market growth analysis
    D)Porter's generic strategies
    C)product-market growth analysis
    (this multiple choice question has been scrambled)
  11. Which
    of the following serves as the center of IKEA's hexagon of strategy?

    A)core competencies
    B)differentiation strategy
    C)economic model
    D)vision statement
    D)vision statement
    (this multiple choice question has been scrambled)
  12. Which
    of the following is a characteristic associated with a cost leadership
    strategy?

    A)stable financial structure
    B)flexible automation
    C)unique product qualities
    D)new product development
    A)stable financial structure
    (this multiple choice question has been scrambled)
  13. A firm that follows a differentiation strategy
    would most likely have an organizational structure that is ________.

    A)organic
    B)hierarchical
    C)centralized
    D)mechanistic
    A)organic
    (this multiple choice question has been scrambled)
  14. In
    which of the following situations is a niche strategy most common and
    successful?

    A)cost leadership and narrow market
    B)product differentiation and narrow market
    C)product differentiation and mass market
    D)cost leadership and mass market
    B)product differentiation and narrow market
    (this multiple choice question has been scrambled)
  15. A
    product that falls below the fair value zone of a value map is perceived to
    deliver benefits that are ________ the product's cost.

    A)unrelated to
    B)less than
    C)equal to
    D)greater than
    D)greater than
    (this multiple choice question has been scrambled)
  16. Which
    generic strategy would most likely lead to a strong increase in market share
    and an average 29% ROI?

    A)inferior customer value
    B)superior customer value
    C)cost leadership
    D)differentiation
    B)superior customer value
    (this multiple choice question has been scrambled)
  17. A
    firm that uses a premium strategy differentiates its products in terms of
    quality or brand image and ________.

    A)declines in market share
    B)charges high prices
    C)offers competitive pricing
    D)has an average 18% ROI
    B)charges high prices
    (this multiple choice question has been scrambled)
  18. A
    firm that uses the economy strategy is more likely to lower its profitability
    because of ________.

    A)value mapping
    B)poor distribution methods
    C)brand image
    D)price wars
    D)price wars
    (this multiple choice question has been scrambled)
  19. Which
    term refers to companies within an industry that pursue similar competitive
    strategies and are similar in size, product offerings, and target customers?

    A)market share
    B)integrated rival
    C)niche market
    D)strategic group
    D)strategic group
    (this multiple choice question has been scrambled)
  20. A
    questionnaire asks respondents "to indicate how much weight you put on
    quality and how much weight you put on price by dividing 100 points between
    quality and price." This questionnaire is most likely using the ________
    method.

    A)rating scale
    B)constant sum scale
    C)rank order
    D)conjoint analysis
    B)constant sum scale
    (this multiple choice question has been scrambled)
  21. All
    of the following are methods used with a market penetration strategy EXCEPT
    ________.

    A)introducing new applications
    B)converting nonbuyers
    C)converting competitors' customers
    D)cross selling
    D)cross selling
    (this multiple choice question has been scrambled)
  22. A
    firm that implements a growth strategy of market development will most likely
    try to ________.

    A)cross sell products
    B)modify product performance
    C)convert lost customers
    D)build brand awareness
    D)build brand awareness
    (this multiple choice question has been scrambled)
  23. Which
    growth strategy has the lowest probability of success?

    A)market development
    B)product development
    C)diversification
    Dmarket penetration
    C)diversification
    (this multiple choice question has been scrambled)
  24. Which
    of the following is NOT one of the adjacency paths described by Chris Zook?

    A)new customer segments
    B)new geographies
    C)new profit pools
    D)new businesses
    C)new profit pools
    (this multiple choice question has been scrambled)
  25. )
    According to Chris Zook, a firm can reduce the risks associated with any growth
    strategy by ________.

    A)focusing only on B2B customers
    B)building from core strengths
    C)conducting extensive market research
    D)eliminating value-chain activities
    B)building from core strengths
    (this multiple choice question has been scrambled)
  26. Which
    of the following is an advantage of the first-mover strategy?

    A)access to important resources
    B)lower start-up costs
    C)limited regulatory involvement
    D)control over subsidiaries
    A)access to important resources
    (this multiple choice question has been scrambled)
  27. In
    many cases, the first mover acts as a ________.

    A)small business
    B)strategic business unit
    C)monopoly
    D)global strategist
    C)monopoly
    (this multiple choice question has been scrambled)
  28. Which
    strategy is characterized by inconsistent brand image, limited subsidiary
    control, and high marketing costs?

    A)international strategy
    B)exporting strategy
    C)licensing strategy
    D)multinational strategy
    D)multinational strategy
    (this multiple choice question has been scrambled)
  29. Company
    X wants a low risk method for entering the global market that will not require
    a significant amount of resources. Which of the following methods would be
    LEAST appropriate for Company X?

    A)exporting
    B)licensing
    C)joint venture
    D)franchising
    C)joint venture
  30. Which
    offensive strategy involves addressing needs or market segments that a
    competitor has neglected?

    A)flanking
    B)encirclement
    C)guerilla
    D)bypass
    A)flanking
    (this multiple choice question has been scrambled)
  31. With
    the bypass strategy, a firm ________.

    A)uses new technology to overtake a former market leader
    B)offers many products to an undeveloped market segment
    C)offers innovative products at competitive prices
    D)launches many attacks on multiple market segments
    A)uses new technology to overtake a former market leader
    (this multiple choice question has been scrambled)
  32. Which
    defensive strategy involves diversifying into new products and markets?

    A)position
    B)preemptive
    C)mobile
    D)counteroffensive
    C)mobile
    (this multiple choice question has been scrambled)
  33. Which
    of the following criteria is it most important that a segment meet in order to
    be profitable for a firm?

    A)be demographically diverse
    B)have similar loyalty rates
    C)be underserved by competitors
    D)have measurable needs
    D)have measurable needs
    (this multiple choice question has been scrambled)
  34. Why
    have geographic variables become less important in market segmentation?

    A)ineffective for business-to-business markets
    B)inconsistent findings
    C)costly market research
    D)increasing market globalization
    D)increasing market globalization
    (this multiple choice question has been scrambled)
  35. The
    importance of demographic variables in market segmentation has declined in
    recent years because such variables ________.

    A)change as markets become global
    B)cannot be quantified accurately
    C)fail to predict consumer behavior
    D)require sophisticated market research methods
    C)fail to predict consumer behavior
    (this multiple choice question has been scrambled)
  36. Individuals
    who really like a product and recommend the product to others most likely have
    ________ loyalty.

    A)demographic
    B)attitudinal
    C)psychographic
    D)behavioral
    B)attitudinal
    (this multiple choice question has been scrambled)
  37. Which
    strategic action would be most appropriate for highly profitable, short-term
    customers?

    A)try to achieve transactional satisfaction
    B)communicate frequently and consistently
    C)focus on up- and cross-selling
    D)attempt to gain attitudinal loyalty
    A)try to achieve transactional satisfaction
    (this multiple choice question has been scrambled)
  38. Items
    priced at or below costs in order to attract customers are known as ________.

    A)loss-leaders
    B)cross-sellers
    C)barnacles
    D)market wreckers
    A)loss-leaders
    (this multiple choice question has been scrambled)
  39. Which
    of the following is a true statement about customer relationship management
    programs?

    A)CRM programs use demographic data to track customer loyalty.
    B)CRM programs enable firms to tailor new products to individuals customers.
    C)CRM programs benefit consumer marketers more than B2B marketers.
    D)CRM programs rely primarily on mass market communication systems.
    B)CRM programs enable firms to tailor new products to individuals customers.
    (this multiple choice question has been scrambled)
  40. CRM
    programs enable marketers to ________.

    A)eliminate loss leaders
    B)compare strategic business units
    C)analyze the value chain
    D)personalize the marketing mix
    D)personalize the marketing mix
    (this multiple choice question has been scrambled)
  41. In
    most cases, a long-term customer relationship is ________ a short-term customer
    relationship.

    A)no different than
    B)less profitable than
    C)as profitable as
    D)more profitable than
    D)more profitable than
    (this multiple choice question has been scrambled)
  42. According
    to Frederick Reichheld, what is the best indicator for a firm's growth?

    A)customer repurchase rates
    B)number of customer recommendations
    C)ratio of customer profits and marketing costs
    D)long-term customer retention rate
    B)number of customer recommendations
    (this multiple choice question has been scrambled)
  43. What
    is indicated by a net promoter score?

    A)customer satisfaction with a product
    B)customer lifetime value
    C)customer profitability
    D)customer attachment to a brand
    D)customer attachment to a brand
    (this multiple choice question has been scrambled)
  44. Which
    of the following is NOT one of the categories used to analyze customer
    profitability?

    A)customer batch-level costs
    B)customer lifetime value costs
    C)customer output-unit-level costs
    D)customer-sustaining costs
    B)customer lifetime value costs
    (this multiple choice question has been scrambled)
  45. The customer portfolio matrix categorizes
    customers based on ________ and ________.

    A)share-of-wallet; production costs
    B)market share; customer loyalty rate
    C)customer loyalty rate; market share
    D)share-of-wallet; customer attractiveness
    D)share-of-wallet; customer attractiveness
    (this multiple choice question has been scrambled)
  46. According
    to the market-based view of strategy development, the success of a firm most
    likely depends on ________.

    A)customer loyalty
    B)organizational resources
    C)employee strengths
    D)industry attractiveness
    D)industry attractiveness
    (this multiple choice question has been scrambled)
  47. What
    is the first step in the process of identifying competitive advantages?

    A)comparing the firm to competitors
    B)prioritizing customers' buying criteria
    C)assessing customers' loyalties
    D)analyzing the firm's value chain
    B)prioritizing customers' buying criteria
    (this multiple choice question has been scrambled)
  48. Which
    of the following is a true statement about competitive advantages?

    A)Valuable and rare resources that are easily substituted provide short-term
    B)Tangible resources are more difficult to obtain than intangible resources.
    C)Valuable and substitutable resources increase long-term customer loyalty rates.
    D)Tangible resources are more important than intangible resources.
    advantages.
    A)Valuable and rare resources that are easily substituted provide short-termadvantages.
    (this multiple choice question has been scrambled)
  49. According
    to modern strategic management theories, the best competitive advantages are
    ________.

    A)based on customer demands
    B)research oriented
    C)intangible
    D)exploitable in other markets
    D)exploitable in other markets
    (this multiple choice question has been scrambled)
  50. Which
    of the following best describes a capability that is valuable, rare,
    transferable, and easy to imitate?

    A)short-term advantage
    B)tangible advantage
    C)core competence
    D)not a competitive advantage
    A)short-term advantage
    (this multiple choice question has been scrambled)
  51. When
    studying the environment for opportunities and threats, it is most important to
    focus on ________.

    A)niche markets
    B)consumer needs
    C)global trends
    D)latent strategies
    B)consumer needs
    (this multiple choice question has been scrambled)
  52. What
    is the first step in the process of selecting a target market?

    A)positioning segments in a market portfolio
    B)searching for competitive advantages
    C)evaluating segment attractiveness
    D)determining competitive superiority
    C)evaluating segment attractiveness
    (this multiple choice question has been scrambled)
  53. Target
    market selection should most likely NOT be based on ________.

    A)strategic objectives
    B)segment rivalries
    C)economies of scope
    D)core competences
    B)segment rivalries
    (this multiple choice question has been scrambled)

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