Question 1

Core competencies tend to refer to areas of special technical and production expertise,whereas ________ tend to describe excellence in broader business processes.

Accepted Answer

A) process benchmarks 
B) distinctive capabilities 
C) core business values 
D) value statements 
E) mission statements

Question 2

________ allows the company to discover who its customers are,how they behave,and what they need or want.It also enables the company to respond appropriately,coherently,and quickly to different customer opportunities.

Accepted Answer

A) Network management 
B) Strategic management 
C) Marketing management 
D) Customer relationship management 
E) Total quality management

Question 3

Through its cutting-edge point-of-sale inventory management technology and highly efficient shipping practices,Wal-Mart is able to keep its inventory and logistics costs extremely low and to pass these cost savings on to consumers in the form of low prices.Wal-Mart's strategy is best described as ________.

Accepted Answer

A) focus 
B) integrative growth 
C) differentiation 
D) market development 
E) overall cost leadership

Question 4

As the marketing manager for a small regional toy manufacturer,what three strategic marketing processes would you use to choose the value of your offer?

Accepted Answer

The answer of As the marketing manager for a small...

Question 5

A company that seeks to increase its sales and profits through backward,forward,or horizontal integration within the industry is said to be employing a(n)________ strategy.

Accepted Answer

A) diversification growth 
B) intensive growth 
C) target growth 
D) integrative growth 
E) conglomerate growth

Question 6

Assume that you are directed to prepare a short brief explaining the steps of the Business Unit Strategic Planning Process.Your task is to construct such a brief by carefully outlining the steps of the aforementioned process.

Accepted Answer

The answer of Assume that you are directed to prepare...

Question 7

Characterize a marketing plan.

Accepted Answer

The answer of Characterize a marketing plan....

Question 8

In the online air travel industry,Travelocity is pursuing a(n)________ strategy by offering the most comprehensive range of services to the traveler.

Accepted Answer

A) overall cost leadership 
B) focus 
C) differentiation 
D) logistics 
E) promotional

Question 9

James Franks has been put in charge of gathering marketing intelligence,disseminating it within his organization,and eventually directing action on the information.Mr.Franks' task is best described as part of the ________.

Accepted Answer

A) market-sensing process 
B) new-offering realization process 
C) customer acquisition process 
D) customer relationship management process 
E) fulfillment management process

Question 10

For an MBO system to work,the business unit attempting to implement the process must meet four criteria.What are those criteria?

Accepted Answer

The answer of For an MBO system to work,the business...

Question 11

In a hypercompetitive economy such as ours,a company can win only by fine-tuning the value delivery process and choosing,providing,and ________ superior value.

Accepted Answer

A) communicating 
B) selecting target markets with 
C) composing 
D) developing 
E) researching

Question 12

Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?

Accepted Answer

A) the situation analysis 
B) the marketing strategy 
C) the executive summary and table of contents 
D) financial projections 
E) implementation and controls

Question 13

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Accepted Answer

A) True 
 B)False

Question 14

A(n)________ is when a company might seek new businesses that have no relationship to its current technology,products,or markets.

Accepted Answer

A) concentric strategy 
B) conglomerate strategy 
C) horizontal strategy 
D) intensive growth strategy 
E) integrative strategy

Question 15

For an MBO (management by objectives)system to work,one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Accepted Answer

A) True 
 B)False

Question 16

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features,promotion,merchandising,pricing,sales channels,and service areas?

Accepted Answer

A) the tactical marketing plan 
B) the target marketing plan 
C) the deployment plan 
D) the product-launch plan 
E) the product-development plan

Question 17

Which of Michael Porter's generic strategies would be most appropriate for an organization that concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market?

Accepted Answer

The answer of Which of Michael Porter's generic strategies would...

Question 18

Another way to describe a value delivery network (partnering with specific suppliers and distributors)is to call it a ________.

Accepted Answer

A) teamwork group 
B) cabal 
C) domestic power center 
D) link to relationships 
E) supply chain

Question 19

During the planning process,if there is a gap between future desired sales and projected sales,corporate management will need to develop or acquire new businesses to fill it.Identify and describe the three strategies that can be used to fill the strategic gap.

Accepted Answer

The answer of During the planning process,if there is a...

Question 20

After analyzing their company's strengths and weaknesses,top managers at Loan Bright decided that they would serve individual loan officers who typically only wanted to purchase small sets of homebuyer data,rather than bigger institutional clients.To meet the needs of this segment,Loan Bright simplified its sales contract,restructured its advertising efforts to focus on Google ads,and created a separate customer-service department.Loan Bright's strategy is best described as a(n)________ strategy.

Accepted Answer