STR 581 Capstone Final

Examination Part 3
1. 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?
Operational excellence
Low-cost leadership
Customer intimacy
Product leadership
2. 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 products
performance, versatility, safety, or convenience.
technological improvement
feature improvement
style improvement
quality improvement
3. 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 estimation
brand association
market partitioning
market valuation
4. This is designed to check systematically and continuously
whether the premises on which the strategy is based are still
valid
Special alert control
Strategic surveillance
Implementation control
Premise control

5. A firm must know where to position its product based on price

and
promotional efforts
quality
communication
region

6. 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.
Competitive analysis
Business analysis
Customer analysis
Company analysis

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7. What is the perceived monetary value of the bundle of
economic, functional, and psychological benefits customers
expect from a given market offering because of the product,
service, people, and image?
Ultimate service benefit
Complete marketing benefit
Total customer benefit
Total management benefit

8. A valuable result of task environment analysis with respect to

geographic, demographic, psychographic and buyer-behavior
factors is called
competitor profile
financial position
vendor profile
customer profile

9. The ability to meet humanitys needs without harming future

generations is now a top priority in most corporate agenda
ethics
sustainability
rules
righteousness

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10. Large-scale, future-oriented plans for interacting with
the competitive environment to achieve the company
objective refers to its
strategy
dynamic policies

 competitive analysis
goals
11. With ________ as a target market strategy, the firm
concentrates on serving many needs of a particular customer
group.
single-segment concentration
product specialization
market specialization
selective specialization

12. Company X's principal strength is its inbound and outbound

logistics system; its relative weakness, however, is after-sales service.
Its competitor, Company Y, however is often plagued with lagging
shipments and an inflexible distribution setup. Company Y remains
successful because it maintains a fully staffed service department
and, as a result, the company is known for its dependable service.
This type of analysis allows them to identify ways to build on
relative strengths and avoid dependence on capabilities at which the
other firm excels.
Disaggregating
Benchmarking
Past performance comparison
Industry comparison

13. The strategic factor that involves the beliefs, values, attitudes,
opinions, and lifestyles of persons in the firms external
environment, as developed from cultural, ecological, demographic,
religious, educational, and ethnic conditioning.
Political factor
Stakeholder factor
Economic factor
Social factor

14. Leaders galvanize commitment to embrace change through

clarifying strategic intent, building an organization, and
shaping organizational culture
developing a vision
developing a mission
planning strategy

15. How do functional tactics compare to 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 specific than business strategies.

Functional tactics are more long-term than business
strategies.

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16. Under which of the following conditions is the frequency the
most important factor in media selection?
When introducing flanker brands
When going into undefined target markets
When launching infrequently purchased brands
When there is high consumer resistance to the product

17. New-to-the-world products are ________.

new product enhancements that supplement established products
low-cost products designed to obtain an edge in highly competitive
markets
new products that create an entirely new market
existing products that are targeted to new geographical markets

18. BMWs "The ultimate driving machine," American Express'

"Don't leave home without it," New York Times' "All the news
that's fit to print," and AT&T's "Reach out and touch someone" are
all examples of ________.
brand mission
brand vision
brand slogan
brand personality

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19. Which component of a marketing audit includes major
developments in income, prices, savings, and credit that
affect the company?
Economic
Political
Cultural
Technological

20. Prestige LLC, a small company that manufactures specialty

cereals and energy bars, wants to launch a "green marketing"
program in response to heightened consumer awareness about

environmental issues. What should the company do to maximize the

program's chances of being successful?
Explain the rules and regulations laid out by governmental
agencies to protect the environment.
Focus on the efforts and costs incurred by the company to bring
these "green" products to consumers.
Emphasize benefits to the consumer rather than environmental
benefits.
Demonstrate that the products will benefit both customers and the
society in the long-term.

21. When diversification involves additions of a business related to

the firm in terms of technology, markets or products, it involves
vertical diversification
concentric diversification
horizontal integration
concentrated growth

22. 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

23. Which control should periodically reassess its approach to the

marketplace with a good marketing audit?
Strategic control
Marketing control
Ethical control
Performance control

24. What type of strategy consists of geographical pricing, price

discounts and allowances, promotional pricing, and differentiated
pricing?
Regular prices
Fixed pricing
Price adaptation
Altered pricing
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25. A set of ideas on organizational control based on the

belief that the separation of the ownership from
management creates the potential for the wishes of owners
to be ignored refers to
agency theory
the moral hazard problem
Adams theory
ethical responsibilities

26. Firms using this generic strategy attempt to build customer

loyalty by stressing a specific product attribute above other product
qualities.
Cost leadership
Concentrated growth
Focus
Differentiation

27. 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.
switchers

 hard-core loyals
shifting loyals
split loyals

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28. 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
Differentiation
Diversification
Preferencing

29. This is a historically popular technique through which managers

create a quick overview of a company's strategic situationit is
based on achieving a sound fit between internal resources and the
external situation.
Internal analysis
Value chain analysis
External analysis

 SWOT analysis

30. The marketing manager needs to know the cost of the research
project before approving it. During which stage of the marketing
research process would such a consideration most likely take
place?
Step 4 analyzing the information
Step 5 drafting the report
Step 1 defining the problem
Step 2 developing the research plan
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