Description : Which one of the following is not one of Porter's three generic strategies that lead to competitive advantage? A. Cost leadership B. Differentiation C. Evolution D. Focus
Last Answer : Evolution
Last Answer : Focus
Description : Porter's generic strategies are: A. Low price, differentiation, focus B. Cost leadership, differentiation, cost focus, focus differentiation C. Price leadership, differentiation, focus D. Low cost, differentiation, focus differentiation
Last Answer : Price leadership, differentiation, focus
Description : A firm that practices price competition engages in which one of the following strategies? A)Setting prices only as low as the second -lowest competitor B)Letting other firms cut price ... C)Competing in both price and product differentiation D)Beating or matching the prices of competitors
Last Answer : D)Beating or matching the prices of competitors
Description : If Amstrad wants to focus its marketing efforts on price competition, the firm's long-runsuccess will depend on having: A)lower prices than its competition.B)lower prices than it has historically charged. C)a promotional campaign for lower prices. D)a lower cost structure than its competitors.
Last Answer : D)a lower cost structure than its competitors.
Description : Porter's notion of a differentiation strategy is best described as one in which firms seek a competitive advantage . A. Through achieving a match between their internal and external ... competitors. C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness
Last Answer : Through establishing their uniqueness
Description : Porter's notion of a differentiation strategy is best described as one in which firms seek a competitive advantage . A. Through achieving a match between their internal and external environments ... . C. Through concentrating on a narrow market segment. D. Through establishing their uniqueness.
Last Answer : Through establishing their uniqueness.
Description : In examining her firm's recently completed market attractiveness - business position model, Jenna Cook finds that the firm's sport sunglasses unit is high on both dimensions. Which one of the following strategies would this placement dictate? A)Invest B)Harvest C)Divest D)Maintain
Last Answer : A)Invest
Description : Charging more for a soft drink in a vending machine than in a supermarket is an example of: A)price discrimination. B)competition oriented pricing. C)price differentiation. D)cost-oriented pricing.
Last Answer : C)price differentiation
Description : Which of the following is NOT a desirable feature for a brand name? A)it can facilitate the introduction of new products B)it can become used as the generic name for all products in the ... for the firm to engage in non price competition D)it can help develop brand loyalty amongst buyers
Last Answer : B)it can become used as the generic name for all products in the category
Description : Low cost, Differentiation and Focus are examples of __________________ a. Corporate strategies b. Operational Strategies c. Business Strategies d. Functional Strategies
Last Answer : Business Strategies
Description : Sellers that emphasise distinctive product features to encourage brand preferences among customers are practising: A)product competition. B)non-price competition. C)brand differentiation. D)product differentiation.
Last Answer : B)non-price competition.
Description : When Bell Laboratories attempts to anticipate the effect of new products and processes on its own innovations, other business organisations, and society in general, it is engaging in: A)product differentiation B)monopolistic competition C)technology assessment D)innovative marketing
Last Answer : C)technology assessment
Description : Henderson Synthetics' management believes that several of the firm's products could have sizeable markets in other countries. In an attempt to maintain a low level of commitment with minimum effort and ... through A)contracting. B)exporting. C)joint ventures. D)licensing. E)subsidiaries.
Last Answer : B)exporting.
Description : __________ refers to the co -ordination of internal exchanges between the organisation and its employees to better achieve successful external exchanges between the organisation and its ... Internal management B)Internal leadership C)Empowerment D)Internal marketing E)Total quality management
Last Answer : D)Internal marketing
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by distinguishing our product with an excellent design, high awareness, and easy ... Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : e. Broad Differentiation
Description : This strategy will allow us to maintain a presence in every market segment. Competitive advantage will be gained by keeping R&D costs, Production costs and raw material costs to a minimum, ... Life Cycle Focus d. Differentiation Strategy with a Product Life Cycle Focus e. Broad Differentiation
Last Answer : a. Broad Cost Leader
Description : Dropping an unprofitable product immediately is the best strategy when A)all advertising and promotional efforts have been exhausted. B)losses are too great to prolong the product's life. C)the ... performance cannot be improved. D) there is low compatibility with the firm's business strategies.
Last Answer : B)losses are too great to prolong the product's life.
Description : Global marketing is A)the development of marketing strategies for the entire world or major regions of the world. B)performing marketing activities across national boundaries. C)the creation ... of value between countries. D)having firms with operations or subsidiaries located in many countries.
Last Answer : A)the development of marketing strategies for the entire world or major regions of the world.
Description : 2) To achieve its marketing objectives, Johnson & Johnson has formulated a set of marketing strategies. This set of strategies is J & J's A)corporate strategy. B)marketing programme. C)overall strategy. D)marketing tactic. E)strategic plan.
Last Answer : B)marketing programme.
Description : A marketing audit's primary purpose is to A)check on the firm's current marketing position for financial and legal reasons. B)identify weaknesses in ongoing marketing operations and plan the ... improve them. D)aid evaluation and reallocate the firm's marketing efforts and marketing opportunities.
Last Answer : B)identify weaknesses in ongoing marketing operations and plan the necessary improvements to correct these weaknesses.
Description : DDon Evers tells his media buyer that due to the complexity of the firm's laser cutters he wants to focus exclusively on which one of the following media types? A)Radio B)Television C)Outdoor D)Broadcast E)Print
Last Answer : E)Print
Description : Concerned about the impact on her firm's promotional messages, Karen Dickson of Magnum PLC., seeks an approach with immediate feedback. She is most likely to achieve this through. A)television advertising B)newspaper advertising C)publicity D)personal selling E)sales promotion
Last Answer : D)personal selling
Description : Which of the following is NOT a major factor for firms making price decisions? A)Costs B)Competition C)Past sales D)Channel member expectations E)Legal and regulatory issues
Last Answer : C)Past sales
Description : Roger McKinney complains to his advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures in key media. Based on ... . A)percent -of-sales B)objective -and -task C)competition -matching D)arbitrary
Last Answer : A)percent -of-sales
Description : One of the results of the consolidation of wholesaling firms is A)a trend toward globalization of world markets. B)that more wholesalers are becoming specialists. C)changes in the marketing ... . D)that wholesalers are losing their power over retailers. E)increased competition among retailers.
Last Answer : B)that more wholesalers are becoming specialists.
Description : One advantage of non-price competition is that: A)a firm can react quickly to competitive efforts. B)market share becomes less important. C)a firm can build customer loyalty. D)pricing is no longer a success factor.
Last Answer : C)a firm can build customer loyalty.
Description : People in the marketing department are having difficulty estimating the level of effort needed to achieve advertising goals. This problem is characteristic of the __________ approach to advertising appropriation. A) ... B)match -competition C)arbitrary D)objective -and -task E)percent -of-sales
Last Answer : D)objective -and -task
Description : Watson Corporation's Chairman tells the firm's managers that the key to social responsibility is to: A)watch profit impacts very carefully. B)maintain an updated code of ethics. C)monitor changes and trends in society's values. D)carefully interpret all new legislation.
Last Answer : C)monitor changes and trends in society's values.
Description : Companies with this strategy state their vision as follows: Low priced products for the whole industry, our brands offer solid value. Our primary stakeholders and bondholders, customers, stockholders and ... Strategy with a Product Life Cycle Focus d. Broad Cost Leader e. Broad Differentiatio
Last Answer : d. Broad Cost Leader
Description : Because Coke is such a popular product and the company is so powerful, Coca -Cola is in a position to exert considerable control over channel structures and the way Coke is marketed. This ... __________ in the distribution channel. A)conflic t B)leadership C)dominance D)co -operation E)negotiation
Last Answer : B)leadership
Description : Procter & Gamble, like many firms in the consumer packaged -goods industry, is organised by A)function. B)product. C)region. D)types of customers.
Last Answer : B)product
Description : As Don Bush prepares a market attractiveness -business position model for his firm, he comes to the point of assessing the business position of the firm's line of jet skis. Which one of ... with regard to business position? A)Seasonality B)Relative market share C)Industry sales D)Market growth
Last Answer : B)Relative market share
Description : One of the disadvantages of reciprocity is that it can lead to: A)a price war B)higher promotional costs C)more competitive firms entering the industry D)less than optimal purchases for the buyer E)longer periods of negotiation
Last Answer : D)less than optimal purchases for the buyer
Description : Which pricing objective de -emphasises price and can lead to a climate of nonprice competition in an industry? A)Status quo B)Return on investment C)Market share D)Survival E)Cash flow
Last Answer : A)Status quo
Description : Services can be meaningfully analysed by using a five-category classification scheme including type of market, degree of labour-intensiveness, degree of customer contact, skill of service provider, ... of the service provider. D)employee structure of the service provider. E)production environments.
Last Answer : B)goal of the service provide
Description : In the beer industry, a few large brewers supply the majority of the market. The brewing industry is an example of which of the following competitive structures: A)Monopoly B)Oligopoly C)Monopolistic Competition D)Perfect Competition E)Monopsony
Last Answer : B)Oligopoly
Description : A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales? A)Cash flow B)Sales potential C)Product quality D)Market share E)Status quo
Last Answer : D)Market share
Description : Which one of the following is NOT included in the Porter’s Five Forces model: A. Potential development of substitute products B. Bargaining power of suppliers C. Rivalry among stockholders D. Rivalry among competing firms
Last Answer : Rivalry among stockholders
Description : Functional benchmarking involves: a) benchmarking your competitors. b) benchmarking global competitors in your industry. c) benchmarking organizations with regards to specific business activities ... d) benchmarking other multinational firms with similar corporate strategies or similar customers
Last Answer : benchmarking organizations with regards to specific business activities or processes
Description : According to Porter, if an organization does not follow either a cost leadership strategy or a differentiation strategy they are: A. Hybrid B. Stuck in the middle C. Typical D. No frills
Last Answer : Stuck in the middle
Description : Which of the following sentences best summarizes the differences between the red and blue oceans strategies? A. Red oceans are about avoiding head-to-head competition while blue oceans are ... are occasionally created well beyond existing industry boundaries. D. All the above options are valid
Last Answer : In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.
Description : Which of the following sentences best summarizes the differences between the red and blue oceans strategies? A. Red oceans are about avoiding head-to-head competition while blue oceans are ... occasionally created well beyond existing industry boundaries. D. All the above options are valid
Last Answer : In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries
Description : A carton of orange juice has no brand name on the package, only the name of the product 'orange juice'. This is an example of A)a manufacturer's brand. B)an own label brand C)a no -frills brand D)a generic brane
Last Answer : D)a generic brane
Description : St. Michael, the brand of Marks and Spencer, is an example of __________ brand. A)a manufacturer B)a generic C)a wholesaler D)an own label
Last Answer : D)an own label
Description : At one time, generic brands represented about 10 percent of all retail grocery sales. Today they account for A)considerably less. B)considerably more C)about the same.
Last Answer : A)considerably less.
Description : Three main strategies for intensive growth are market penetration, product development, and A)product improvement. B)market saturation. C)sales penetration. D)market growth. E)market development.
Last Answer : E)market development
Description : Business Unit Level Strategy decides…. A. ‘How’ to compete in an industry? B. How to create and maintain competitive advantage in selected industry. C. All of these options are correct D. Industry specific diversification strategies
Last Answer : All of these options are correct
Description : Corporate Level Strategy decides… A. ‘How’ to compete in an industry? B. How to create and maintain competitive advantage in selected industry. C. Industry specific diversification strategies. D. None of these two options are correct
Last Answer : None of these two options are correct