Exam 7: Strategic Planning

When Terminal Inc.,a global heavy-duty vehicle manufacturer,could not cope up with the increasing demand,Next-Engines Inc.seized the opportunity and supplied their heavy-duty vehicles at prices lower than Terminal's.Next-Engines' lower labor costs and extensive R&D facilities allow it to keep its prices lower than Terminal's.Which of the following competitive strategies did Next-Engines adopt?

Which of the following statements is true about the choice of competitive strategy?

One of the goals of globalization is to reduce costs by _____.

Total quality management measures are allowing marketers to customize an increasing amount of their production while saving on costs.

Globalization strives to reduce costs by exploiting factor costs or capabilities within a system.

_____ refers to the capability of attracting and influencing all stakeholders,whether through energetic brands,heroic missions,distinctive talent development,or an inspirational corporate culture.

The pressure to be global and local at the same time has to be addressed through developing talent.

Why is standardization not the answer for companies wishing to go global?

_____ refers to a company's decision to expand its portfolio by developing a strategy characterized by growth in a relatively large number of markets.

Which of the following is NOT one of the three choices of competitive strategies that the marketing manager has at his/her disposal?

A single-country approach is large enough for the local business to achieve all possible economies of scale.

_____ refers to balancing global,regional,and local interests.

A local company that has assets that give it a competitive advantage only in its home market is known as a(n)_____.

The NIH syndrome refers to _____.

During the _____ analysis stage of strategic planning,the company takes a look at its own organizational resources to determine if it can establish and sustain competitive advantage within global markets.

The recognition that groups within markets differ sufficiently enough to warrant individual marketing mixes is known as _____.

Mini-nationals are consortiums of companies that act as a lobbying force for global issues.

The _____ approach seeks uniformity,especially in elements that are strategic in nature,and also takes care to localize necessary tactical elements.

What is the first step in the formulation of a global strategy?

A dodger upgrades capabilities to match globals in niches.