Question 1

Describe the various ways through which an increased penetration strategy can be implemented.

Accepted Answer

A product may not offer sufficient value from the potential customer's view to justify the effort or expense involved in buying and using it.One obvious solution to such a problem is to enhance the product's value to potential customers by adding features or benefits,usually via line extensions.Another way to add value to a product is to develop and sell integrated systems that help improve the basic product's performance or ease of use.A firm may also enhance a product's value by offering services that improve its performance or ease of use for the potential customer.Finally,some potential customers may have trouble finding the product due to limited distribution,or the product's benefits may simply be too modest to justify much purchasing effort.In such cases,expanding distribution or developing more convenient and accessible channels may help expand market penetration.

Question 2

The maturity stage is characterized by an absence of threats and opportunities.

Accepted Answer

A) True 
 B)False  False

Question 3

What are the methods of maintaining a low-cost position?

Accepted Answer

Moving down the experience curve is the most commonly discussed method of achieving and sustaining a low-cost position in an industry.Some other means for obtaining a sustainable cost advantage include producing a no-frills product,creating an innovative product design,finding cheaper raw materials,automating or outsourcing production,developing low-cost distribution channels,and reducing overhead.

Question 4

Which of the following strategies often results in reduced margins and profits in the short term?

Accepted Answer

A) Harvesting strategy 
B) Profitable survivor strategy 
C) Maintenance strategy 
D) Niche strategy 
A) Harvesting strategy 
B) Profitable survivor strategy 
C) Maintenance strategy 
D) Niche strategy

Question 5

Low-cost defender businesses typically spend little on processing R&D.

Accepted Answer

A) True 
 B)False

Question 6

Describe the major gaps in service quality.

Accepted Answer

The five gaps that can lead to dissatisf

Question 7

Hawthorne Inc. ,a firm that produces skin care products,uses advertisements that ask consumers to apply their products twice daily.Which of the following strategies is being implemented by the firm?

Accepted Answer

A) Increased penetration 
B) Extended use 
C) Market expansion 
D) Profitable survivor 
A) Increased penetration 
B) Extended use 
C) Market expansion 
D) Profitable survivor

Question 8

Harper Corporation,an electronics manufacturer,emphasizes that its products such as refrigerators,washing machines,and microwave ovens last for a very long time without any problems.Which of the following dimensions of product quality is being emphasized by the organization?

Accepted Answer

A) Functional performance 
B) Variety of features 
C) Broad product line 
D) Durability 
A) Functional performance 
B) Variety of features 
C) Broad product line 
D) Durability

Question 9

_____ is most appropriate for developed industries that are still experiencing some technological change and may have opportunities for continued growth.

Accepted Answer

A) Prospector strategy 
B) Defender strategy 
C) Analyzer strategy 
D) Reactor strategy 
A) Prospector strategy 
B) Defender strategy 
C) Analyzer strategy 
D) Reactor strategy

Question 10

Q&Q Ltd. ,an electronics manufacturer,advertises its refrigerators as refrigerators that emit low noise,have an automatic defrost system,have a massive storage capacity with slim profiles,and so on This implies that the company is relying on the quality dimension of _____ in order to promote its refrigerators.

Accepted Answer

A) functional performance 
B) durability 
C) features 
D) conformance to specifications 
A) functional performance 
B) durability 
C) features 
D) conformance to specifications

Question 11

The perceived value that customers associate with a particular brand name and its logo or symbol refers to its brand:

Accepted Answer

A) equity. 
B) quality. 
C) durability. 
D) image. 
A) equity. 
B) quality. 
C) durability. 
D) image.

Question 12

Omnibus Inc.is a library well-known for its rare and wonderful collection of books.Initially it had very few members,as many people had trouble reaching the store and it had only one branch.Hence,the library hired a bus and now it travels to different towns every weekend and satisfies the needs of various book lovers.This method of increasing members is a way of implementing the _____ strategy.

Accepted Answer

A) increased penetration 
B) profitable survivor 
C) market expansion 
D) extended use 
A) increased penetration 
B) profitable survivor 
C) market expansion 
D) extended use

Question 13

Assurance refers to the knowledge and courtesy of employees and their ability to convey trust and confidence.

Accepted Answer

A) True 
 B)False

Question 14

When markets become more fragmented as they grow and mature,share leaders have to contract their product lines,or remove one or more flanker brands,to protect their position against competitive inroads.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is true of the maturity phase of an industry?

Accepted Answer

A) It is depicted as one of instability characterized by fluctuating prices. 
B) As the maturity stage progresses,a variety of threats and opportunities can disrupt an industry's stability. 
C) As a market matures,first-time buyers account for the vast majority of total volume rather than replacement purchases. 
D) During the maturity phase of an industry,profitability and public awareness begin to rise. 
A) It is depicted as one of instability characterized by fluctuating prices. 
B) As the maturity stage progresses,a variety of threats and opportunities can disrupt an industry's stability. 
C) As a market matures,first-time buyers account for the vast majority of total volume rather than replacement purchases. 
D) During the maturity phase of an industry,profitability and public awareness begin to rise.

Question 16

Snowball Hotels provides rewards such as incentives,pay raises,or promotions to their employees who perform well.This is done by measuring and evaluating the service performance of employees on certain pre-specified criteria.The senior executives focus mainly on the hospitality rendered by the employees while attending to customers' needs.The employees are provided with regular training to prepare them for delivering such hospitality.Which of the following gaps would most likely be absent in the organization?

Accepted Answer

A) Gap between customer's expectations and marketers perceptions 
B) Gap between service quality specifications and service delivery 
C) Gap between management's perceptions and service quality specifications 
D) Gap between service delivery and external communications 
A) Gap between customer's expectations and marketers perceptions 
B) Gap between service quality specifications and service delivery 
C) Gap between management's perceptions and service quality specifications 
D) Gap between service delivery and external communications

Question 17

Which of the following is necessary is the first step in removing the gap between the customer's expectations and the marketer's perceptions?

Accepted Answer

A) Inform employees regarding company's service policies 
B) Measure and evaluate service performance before service delivery 
C) Provide employees with training,equipment,and time necessary to deliver good service 
D) Collect information to determine what service attributes customers consider important 
A) Inform employees regarding company's service policies 
B) Measure and evaluate service performance before service delivery 
C) Provide employees with training,equipment,and time necessary to deliver good service 
D) Collect information to determine what service attributes customers consider important

Question 18

The key to a differentiation strategy based on providing superior service is to:

Accepted Answer

A) underestimate the customer expectations and meet them successfully. 
B) meet or exceed target customers' service quality expectations. 
C) encourage customers to set unrealistically high and different expectations. 
D) have sympathy rather than empathy toward their customers. 
A) underestimate the customer expectations and meet them successfully. 
B) meet or exceed target customers' service quality expectations. 
C) encourage customers to set unrealistically high and different expectations. 
D) have sympathy rather than empathy toward their customers.

Question 19

The growing popularity of the internet has facilitated the ability of firms to tailor different levels of service and benefits to different customers based on each person's potential to produce a profit.

Accepted Answer

A) True 
 B)False

Question 20

It is easy for a single business with sufficient resources to pursue both low-cost and differentiation strategies at the same time.

Accepted Answer

A) True 
 B)False

Describe the various ways through which an increased penetration strategy can be implemented.

The maturity stage is characterized by an absence of threats and opportunities.

What are the methods of maintaining a low-cost position?

Which of the following strategies often results in reduced margins and profits in the short term?

Low-cost defender businesses typically spend little on processing R&D.

Describe the major gaps in service quality.

Hawthorne Inc. ,a firm that produces skin care products,uses advertisements that ask consumers to apply their products twice daily.Which of the following strategies is being implemented by the firm?

Harper Corporation,an electronics manufacturer,emphasizes that its products such as refrigerators,washing machines,and microwave ovens last for a very long time without any problems.Which of the following dimensions of product quality is being emphasized by the organization?

_____ is most appropriate for developed industries that are still experiencing some technological change and may have opportunities for continued growth.

The perceived value that customers associate with a particular brand name and its logo or symbol refers to its brand:

Assurance refers to the knowledge and courtesy of employees and their ability to convey trust and confidence.

When markets become more fragmented as they grow and mature,share leaders have to contract their product lines,or remove one or more flanker brands,to protect their position against competitive inroads.

Which of the following is true of the maturity phase of an industry?

Which of the following is necessary is the first step in removing the gap between the customer's expectations and the marketer's perceptions?

The key to a differentiation strategy based on providing superior service is to:

The growing popularity of the internet has facilitated the ability of firms to tailor different levels of service and benefits to different customers based on each person's potential to produce a profit.

It is easy for a single business with sufficient resources to pursue both low-cost and differentiation strategies at the same time.

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters

Exam 16: Strategies for Mature and Declining Markets

Describe the various ways through which an increased penetration strategy can be implemented.

The maturity stage is characterized by an absence of threats and opportunities.

What are the methods of maintaining a low-cost position?

Which of the following strategies often results in reduced margins and profits in the short term?

Low-cost defender businesses typically spend little on processing R&D.

Describe the major gaps in service quality.

Hawthorne Inc. ,a firm that produces skin care products,uses advertisements that ask consumers to apply their products twice daily.Which of the following strategies is being implemented by the firm?

Harper Corporation,an electronics manufacturer,emphasizes that its products such as refrigerators,washing machines,and microwave ovens last for a very long time without any problems.Which of the following dimensions of product quality is being emphasized by the organization?

_____ is most appropriate for developed industries that are still experiencing some technological change and may have opportunities for continued growth.

The perceived value that customers associate with a particular brand name and its logo or symbol refers to its brand:

Assurance refers to the knowledge and courtesy of employees and their ability to convey trust and confidence.

When markets become more fragmented as they grow and mature,share leaders have to contract their product lines,or remove one or more flanker brands,to protect their position against competitive inroads.

Which of the following is true of the maturity phase of an industry?

Which of the following is necessary is the first step in removing the gap between the customer's expectations and the marketer's perceptions?

The key to a differentiation strategy based on providing superior service is to:

The growing popularity of the internet has facilitated the ability of firms to tailor different levels of service and benefits to different customers based on each person's potential to produce a profit.

It is easy for a single business with sufficient resources to pursue both low-cost and differentiation strategies at the same time.

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Business Strategies: a Foundation for Marketing Program Decisions

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

Filters