Exam 2: Strategic Planning and Competitive Advantage

Drafi Arts Corp.makes and sells original handicraft products.The management of the company has been successfully using a niche strategy for years.In this case,which of the following is the most likely to be true of Drafi Arts Corp.?

(Multiple Choice)

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Question 81

Rues and West Bros.,an ammunition manufacturer,defines its mission statement as being in the ammunition-production business rather than in the arms industry.In the given scenario,Rues and West Bros.is exhibiting _____.

(Multiple Choice)

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(79)

Question 82

A diversification strategy is free of risk when a firm is entering unfamiliar markets.

(True/False)

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Question 83

Which of the following statements is true about a marketing plan?

(Multiple Choice)

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Question 84

Nile Inc.is one of the leading shoe manufacturing companies in Baltonia.It manufactures canvas shoes that are similar to those produced by other brands.The management of the company has decided to adopt a product/service differentiation competitive strategy.In this scenario,what would Nile be likely to do?

(Multiple Choice)

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Question 85

The price component of a marketing mix is:

(Multiple Choice)

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Question 86

The creation and implementation of a marketing plan allows the organization to achieve marketing objectives and succeed.

(True/False)

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Question 87

The total revenue of a firm is calculated by multiplying the number of units sold by the ___________ of each unit.

(Multiple Choice)

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Question 88

In the case of SBUs that are cash cows,problem children,or dogs,the basic goal of _______________ is to increase short-term cash return without increased concern for long-run impact.

(Multiple Choice)

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(77)

Question 89

According to Ansoff's strategic opportunity matrix,a firm using the market penetration alternative would try to:

(Multiple Choice)

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Question 90

__________ is the process of anticipating future events and determining strategies to achieve organizational objectives in the future.

(Multiple Choice)

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Question 91

Which of the following is an example of a competitive advantage due to a product/service differentiation?

(Multiple Choice)

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(82)

Question 92

Imitation by competitors indicates a lack of competitive advantage and almost ensures mediocre performance.

(True/False)

4.8/5

(83)

Question 93

A company's skills include patents,copyrights,and technology that are superior to those of the competition.

(True/False)

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(91)

Question 94

In the context of a marketing mix,the product includes:

(Multiple Choice)

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(92)

Question 95

Freulia Inc.manufactures and sells stationery and office supplies.It is beginning to lose its competitive advantage with the entry of new competitors.In this case,to gain a sustainable competitive advantage,what should Freulia do?

(Multiple Choice)

4.7/5

(77)

Question 96

The strategy in which an SBU preserves market share so that it can take advantage of a very positive cash flow is called ______________.

(Multiple Choice)

4.8/5

(80)

Question 97

Remvault Dairies witnessed a steady decline in the sales of its products due to increased competition in the local market.Remvault Dairies plans to adopt the market development strategy.In this scenario,which of the following is the best step the company can take to rejuvenate its financial losses?

(Multiple Choice)

4.9/5

(54)

Question 98

If an organization has an SBU that it believes has the potential to be a star (and is probably a problem child at present),building would be an appropriate goal.

(True/False)

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(65)

Question 99

Unlike a sustainable competitive advantage,a cost competitive advantage:

(Multiple Choice)

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(81)

Question 100

Showing 81 - 100 of 115

Drafi Arts Corp.makes and sells original handicraft products.The management of the company has been successfully using a niche strategy for years.In this case,which of the following is the most likely to be true of Drafi Arts Corp.?

Rues and West Bros.,an ammunition manufacturer,defines its mission statement as being in the ammunition-production business rather than in the arms industry.In the given scenario,Rues and West Bros.is exhibiting _____.

A diversification strategy is free of risk when a firm is entering unfamiliar markets.

Which of the following statements is true about a marketing plan?

The price component of a marketing mix is:

The creation and implementation of a marketing plan allows the organization to achieve marketing objectives and succeed.

The total revenue of a firm is calculated by multiplying the number of units sold by the ___________ of each unit.

In the case of SBUs that are cash cows,problem children,or dogs,the basic goal of _______________ is to increase short-term cash return without increased concern for long-run impact.

According to Ansoff's strategic opportunity matrix,a firm using the market penetration alternative would try to:

__________ is the process of anticipating future events and determining strategies to achieve organizational objectives in the future.

Which of the following is an example of a competitive advantage due to a product/service differentiation?

Imitation by competitors indicates a lack of competitive advantage and almost ensures mediocre performance.

A company's skills include patents,copyrights,and technology that are superior to those of the competition.

In the context of a marketing mix,the product includes:

Freulia Inc.manufactures and sells stationery and office supplies.It is beginning to lose its competitive advantage with the entry of new competitors.In this case,to gain a sustainable competitive advantage,what should Freulia do?

The strategy in which an SBU preserves market share so that it can take advantage of a very positive cash flow is called ______________.

Remvault Dairies witnessed a steady decline in the sales of its products due to increased competition in the local market.Remvault Dairies plans to adopt the market development strategy.In this scenario,which of the following is the best step the company can take to rejuvenate its financial losses?

If an organization has an SBU that it believes has the potential to be a star (and is probably a problem child at present),building would be an appropriate goal.

Unlike a sustainable competitive advantage,a cost competitive advantage:

An Overview of Marketing

Ethics and Social Responsibility

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Consumer Decision Making

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Product Concepts

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