Multiple choice questions:
1. 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.
Customer analysis
Business analysis
Competitive analysis
Company analysis
2.Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and
shaping organizational culture
planning strategy
developing a mission
developing a vision
3.Large-scale, future-oriented plans for interacting with the competitive environment to achieve the company objective refers to its
goals
dynamic policies
competitive analysis
strategy
4.This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid
Strategic surveillance
Premise control
Special alert control
Implementation control
5. 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
Legal responsibility
Employee responsibility
Discretionary responsibility
6. 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.
hard-core loyals
switchers
shifting loyals
split loyals
7. 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
Economic factor
Stakeholder factor
Political factor
8. 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.
9. Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities.
Focus
Differentiation
Cost leadership
Concentrated growth
10. 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.
technological improvement
feature improvement
quality improvement
style improvement
11. 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
Low-cost leadership
Customer intimacy
12. A firm must know where to position its product based on price and
promotional efforts
communication
quality
region
13. A firm must know where to position its product based on price and
promotional efforts
communication
quality
region
14. 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.
Value chain analysis
Internal analysis
SWOT analysis
External analysis
15. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
product specialization
selective specialization
market specialization
single-segment concentration
16. Under which of the following conditions is the frequency the most important factor in media selection?
When going into undefined target markets
When there is high consumer resistance to the product
When introducing flanker brands
When launching infrequently purchased brands
17. 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 partitioning
market estimation
market valuation
brand association
18. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called
vendor profile
competitor profile
customer profile
financial position
19. 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.
Broadening
Diversification
Differentiation
Referencing
20. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves
horizontal integration
concentric diversification
vertical diversification
concentrated growth