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Homework answers / question archive / TOPIC 1 Market-Oriented Perspectives underline successful corporate business and marketing strategies 1)Which level of strategy provides direction on the company’s mission, the kinds of business it should be in and its growth policies? What component of strategy involves detailing the desired levels of accomplishment on one or more performance dimensions over specified time periods for the organisation as a whole? What question needs to be specifically addressed while developing a business strategy What is the primary focus of MKT strategy? Which of the following falls within the scope of corporate strategy?’ Which observation concerning market-oriented firms is correct? Why are early entrants into newly emerging industries, particularly industries based on new tech, especially likely to be internally focused and not very market-oriented? The tendency for firms to automatically continue strategies that were successful in the past, even though current market conditions are changing, is referred to as: Product-oriented firms are likely to be 10 What characterises a market-oriented organisation? Which of the following approaches characterises a production-oriented organization? Doll attempted to maintain its long-standing low-cost position by reducing the number of technicians in its customer call centres
1)Which level of strategy provides direction on the company’s mission, the kinds of business it should be in and its growth policies?
10 What characterises a market-oriented organisation?
13 Identify the wrong statement concerning services:
15.Marketers have identified 4Cs critical to a good strategic marketing plan, Which of the following is not among them?
18..The marketing concept was originally developed by:
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1.What is not true of the criteria for defining a corporate mission
9.? ?A company trying to increase its market share for current products is most likely to follow which strategies?
10 Amazon pursued a combination of actions such as making service improvements and cutting cost this is example of expansion by:
18 Dogs are
22 Identify a limitation of value based planning
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1.Strategic business units:
2. Which of the following is not a dimension that defines the scope and mission of an individual SBU?
5- According to Michael Porter, a business that avoids direct confrontation with its major competitors by concentrating on narrowly defined market niches is using the________strategy to gain and maintain a competitive advantage.
6. A business pursuing a prospector strategy:
7. Which business strategy is followed by a business that attempts to maintain a strong position in its core product market but also seeks to expand into new—usually closely related—product markets?
8. Businesses following a reactor strategy:
9. 42BELOW___a wheat vodka made by a small distillery in New Zealand___ has captured a share of the prestige segment of the market, especially hotels such as the Ritz in London and El Bulli in Spain. Identify the strategy used by the firm.
12. A key strategic characteristic of Huawei is that
13. Considering scope, these businesses usually operate in broad and rapidly changing domains where neither the technology nor customer segments are well established
16. Emerson Electric formed an operating group of several otherwise autonomous business units that make different types of electrical motors and tools. By sharing production facilities, marketing activities and a common sales force, the group was able to reduce the costs of both per-unit production and marketing Emerson Electric is trying to
17.Which environmental factor is conducive to the prospector strategy
18. The defender strategy is most useful
19. A policy of high service quality is essential for ______, as it offers a way to maintain a competitive advantage in well-established markets.
20. Identify the correct statement concerning the distribution policies.
21. When the Pillsbury Company rejected the proposal of their employee James D. Watkins that microwavable? packaged food was too risky, it was focused on defending its strong position in the marketplace through incremental line extensions and product improvements. This is typical of a(n):
22. Which of the following are most likely to be involved in a strategy of high forward vertical integration with regards to their distribution policies?
23. Emirates Airline has been classified as a differentiated analyser because:
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1.A(n)______is composed of individuals and organisations who are interested in, and are willing to buy, a good or service to obtain benefits that will satisfy a particular need.
2. A micro-level analysis of market and industry attractiveness is based on:
3. Identify a demographic trend that influences market attractiveness.
4. Marketers of such consumer services as health care, holiday accommodation and life insurance are capitalising on the general trend of an ageing population and are developing and implementing marketing strategies accordingly. What macro-environmental trend is acting as a catalyst here?
5.Identity a sociocultural environment trend that affects market attractiveness.
6. Each macro-environmental trend has a distinct impact on the consumer and industrial market. Identify the scenario where industries such as check-cashing outlets and pawn shops will face a tough time staying in business.
7. Deregulation:
8. The rise in production of products such as hybrid gas-electric vehicles, phosphate-free detergents and high-efficiency light bulbs is indicative of the impact of which of the following macro-environmental forces?
9.According to Porter's five competitive forces, rivalry among present competitors is greater under which of the following conditions?
10. Porter's five competitive forces model identifies rivalry among present competitors as one competitive force. According to this concept, why would the restaurant industry face greater rivalry?
11. The problem of overcoming a cost disadvantage becomes more difficult for existing firms that share their output with their related businesses:
12. The bargaining power of suppliers increases under all of the following conditions except:
13. A distribution agency was using facsimile machines to send and receive long-distance messages. This was replaced with an all-in-one printer, flatbed scanner, copier and fax device that allowed the agency to accomplish multiple tasks at the same price. For the manufacturer of the facsimile machines, this example represents the:
14. Most companies and most goods deliver generic category benefits when:
15. Opportunities are attractive at the micro level for the industry when the company meets which of the following tests?
16. Which of the following factors is considered a critical success factor in the case of retailing?
17. According to the opportunity/threat matrix, which of the following events should be closely monitored?
18. When large music record companies such as Sony, Warner Music and Universal decided that they would make thousands of songs available for download over the internet, this was a clear strategic response to changes in the:
19. What does it mean when firms create new market space?
20. Which one of the below is NOT a part of the three team domains?
21?Consumers are prepared to pay a premium for what they believe to be______ business practices.
22. A trend towards cashless shopping is due to advances within the________environment.
23. For a business operating within a specific industry, the bargaining power of suppliers is increased when:
24. In the context of analysing market opportunities, 'CSF' stands for________.
25. The growing tendency of businesses to champion their commitment to environmentally sustainable business practices is a result of changes and trends in the:
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1.What term is used to refer to the size of current users who are already using a particular product at the time of forecast?
2. Which of the following statements is true of the top-down approach in sales forecasting?
3.Statistical methods are not recommended for new product managers charged with forecasting sales for a new product because:
4 Company A is a tyre manufacturer and uses factors like the number and age of vehicles currently on the road in the country, predictions of GDP for the region and other relevant factors to forecast market potential Which of the following methods is the one Company A uses for a more accurate forecast?
5.For which category of new products is the observational method of preparing an evidence-based forecast not possible?
6. Honeydew, a well-known confectionery, plans to introduce a walnut fudge candy. It asks some of its regular customers to sample it and provide their opinion. In this way, the management hopes to estimate the likely number of buyers for the product, if introduced in their store. Honeydew used the______ method of forecasting.
7. Which of the following observations is not applicable to the analogy approach of forecasting sales?
8. Which of the following is not a valid reason for the decline in the use of live test markets?
9. Diffusion of innovation theory allows:
10. The speed of the adoption process is based upon all of the following except:
11. The late majority are individuals who:
12. Nine West Retail Stores is an international operator of shoe specialty stores. Each week, all Nine West retail outlets receive information about the fastest and slowest selling items in terms of style and colour; merchandise category (e g. dress or casual); store, area or region; and for various time periods. This is an example of the use of:
13?Company A uses loyalty cards to track and analyse customer buying patterns and to offer customers coupons and incentives tailored to their buying behaviour. Which of the market knowledge systems does the company use?
14. What system of information collection best illustrates a marketing database?
15 Which of the following statements about competitive intelligence systems is incorrect?
16. Sales force automation software helps companies to:
17?The design, collection, analysis and reporting of research intended to gather data pertinent to a particular marketing challenge or situation is referred to as:
18. 'Primary data collected when cheaper and faster secondary data will do. Quantitative data collected without first collecting qualitative data/ These are examples of things that could go wrong in which step of the marketing research process?
19. Heavy deregulation in the Australian telecommunications industry has resulted in:
20. Which of the below is not a major evidence-based method for estimating market potential and forecasting sales?
21. Chain ratio calculations and indices are both examples of:
22. When estimating market potential using indices, 'BPI* stands for________:
23. Innovators typically account for approximately what percentage of all individuals who ultimately adopt a new product?
24. If you are generally the last person amongst your social group to purchase a new product, you would be regarded as a(n)________?
------------------------------------------------------------------------------------------------------------------- TOPIC 6: Targeting attractive market segments
1.Identity is the process by which a market is divided into distinct subsets of customers with similar needs and characteristics that led them to respond in similar ways to a particular product offering and marketing program.
2. Which of the following involves evaluating the firm's mission and capabilities to deliver what each segment wants, in order to choose which segments it will serve?
3. If in a certain country the population growth has slowed and more product markets are maturing, the result is most likely to be one of:
4 The competitive environment in some industries is witnessing developments such as build-to-order processes, mass-customisation of products and computer-aided design technology. What reason can be attributed to the rising importance of marketing segmentation in such an environment?
5?Which of the following is not an objective entailed in the market segmentation process?
6. All of the following are reasons why the segmentation criteria should describe the market segments clearly except:
7. Which of the following statements emphasises the impact of income in segmenting markets geographically?
8. Which of the following statements about geographic segmentation is incorrect?
9. Market segmentation:
10. Which of the following illustrations exemplifies behavioural segmentation?
11. Consumers evaluate product or brand alternative on the basis of desired characteristics and how valuable each characteristic is. This is referred to as the:
17. Possible shifts in customer needs and behaviour, the entry or exit of competitors and changes in their strategies are considered during this step of constructing a
18. Identity the action point that a firm must take when the market attractiveness is moderate and the the competitive position is weak.
19. A key strategic issue in global market segmentation has been:
A. to view a country as a single segment comprising all consumers, but this approach is seriously flawed
20. A strategy designed to avoid direct competition with larger businesses that are pursuing bigger segments is known as a:
21.The Nielsen PRIZM service is a tool used by market researchers to examine and identify which of the following?
22. Most successful entrepreneurial ventures target narrowly defined market segments at the outset because:
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1.Identify the incorrect statement concerning positioning
2. A company with a broad target aimed at gaining a competitive advantage through lower costs will use a
3. Physical positioning helps in all of the following ways except
4. Michael Porter identified three generic business strategies. These are
5. Michael Porters generic business strategies are based on two broad needs(attributes )and on the size of the market segment. The two broad attributes are
8.Some people will pay considerably more for Bayer aspirin than for an unadvertised private label aspirin. even though they are essentially the same product. ' What does this statement signity?
9.Which of the following examples best illustrates perceptual positioning?
13 'At Fidelity, you're not just buying a fund, a stock, or a bond-you're buying a better way to manage it. Identity the determinant attribute being used here
16 A bank positions itself using its deposit safety attribute. Why would this positioning not create an impact in the consumer's mind?
17. Identify the incorrect statement concerning the positioning grid.
18.British Leyland was formed through a series of mergers involving a number of British car manufacturers It did not have a clear identity because it was new and manufactured a vari iety of brands, including Rover, Triumph and Austin-Morris. Which constraint associated with an intense position does this example illustrate?
21. Brand equity is the result of a firm's ability to
22 . Effective positioning assists in
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1.Which of the following observations about pioneering firms is incorrect?
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1. All of the following are reasons why followers are attracted to rapidly growing markets except:
2.Conventional wisdom suggests growing markets present attractive opportunities for future profits because:
3.Which of the following is a marketing objective for share leaders?
4.Identify a market leader’s action aimed at stimulating selective demand among later adopters
5.The marketing action of developing a product line with features that are more appealing to a specific segment of potential customers is characteristic of the:
8.Identify the primary objective of the confrontation share maintenance strategy
9.Which strategy has a market characteristic of a relatively homogeneous market in relation to customer needs and purchase criteria?
10. What action step must a leader take to improve customer satisfaction as competition enters, or prepares to enter the market?
11.Toyota Motors has introduced a new line of cars aimed at creating an appeal for young car buyers looking for good quality, funky designs and low-prices. Their intent is to protect their primary brands from direct competition in the same category and from low-price competitors . What is the strategy employed by Toyota?
12.A firm develops line extensions, new brands or alternative product forms utilising similar technologies to appeal to multiple market segments. Identify the strategy employed here
13.Strategic withdrawal strategy is best suited when:
14.What is the major marketing objective for followers?
15.Attacking the leader within its primary target market involves which of the following strategies?
16.What strategy would a challenger be pursuing if its primary objective is to capture a modest share of repeat purchases in several market segments ?
17.The primary objective of encirclement strategy is to:
18.A leader is typically
19.A firm develops differentiated product offerings targeted at one large or several smaller segments in which no competitor currently holds a strong position. What strategy is being used here ?
20.When growth in the personal computer (PC) market slumped in 2000 due to the dot-com crash and other factors, Dell Computer decided to:
21.When Samsung decided to withdraw from the most price-sensitive consumer electronics segments and from US discount retailers such as Walmart, it was engaging in a typical
22.Relative to a leader, a challenger is often at a cost disadvantage. This is mainly because
of
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Chapter 10 : Strategic for mature & declining market
1.Which statement is most indicative of a maturing market?
2.What is true of the transition from market growth to maturity?
3.Failure in anticipating transition from growth to maturity leads to all of the following consequences except:
4.”A business may survive and prosper during the growth stage even though it has neither differentiated its offering from competitors nor attained the lowest-cost position in its industry, but not so in the transition period. This is true of which strategic trap?
5.National Motors manufactures high-end automobiles. The attributes of their cars include excellent handling, acceleration, comfort and braking, providing the company with an advantage over its competitors. Identify the product quality dimension of these cars.
6.The quality dimension of ___ refers to a customer’s ability to obtain prompt and competent service when the product does break down.
7.This quality dimension refers to the absence of defects:
8.The gap between management perceptions and service quality specifications occurs when:
9.A period of competitive turbulence almost always accompanies the transition from market
___ in an industry
10.The production of no frills goods to maintain a low-cost position:
11.For Howard Paper achieved a cost advantage by being the first major papermaker to rely exclusively on recycled pulp. The firm’s lower cost gave it a competitive edge in the price-sensitive commercial market for toilet paper and other such products used in hotels, restaurants and office buildings. Which method of maintaining a low-cost position has the company used?
12.Financial dimensions of performance are usually of greater interest than growth-oriented dimensions to defender businesses because they are concerned with:
13.Identify the market characteristic that affirms growth extension in maturing markets through application of an extended use strategy
14.To develop a differentiated positioning focused on untapped segments using a market expansion strategy, a firm should:
15.A successful increased penetration strategy depends on discovering why non-users are uninterested in the product. Often, consumers do not perceive enough value in the product.
Which of the following is not a suitable solution to enhance product value?
16.Which of the following is not a factor that helps determine the strategic attractiveness of declining product markets?
17.Conditions of demand, factors that help determine the strategic attractiveness of declining product markets, include demand characteristics such as the rate and the certainty of sales decline. What observation is true of the market being affected by these characteristics?
18.A harvesting strategy can be used in all the following situation except:
21 Which of the following is not a method of maintaining a low-cost position?
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Chapter 11:MKT strategies for the digital economy
3.ICT stands for
4.Wikis, blogs, podcasting and RSS feeds were all early examples of:
5.UVP stands for
6.The social media landscape is characterised by a number of major applications. Which of the following is not a social media application?
7.”S&DDL” refers to
8.According to the textbook, which country has the fastest average internet connection speed?
9.RSS (such as in RSS feeds) is short for:
10.Which of the following are typically viewed as Web 1.0 based?
11.A service-dominant logic (SDL) perspective would suggest that a product such as Apple’s ipad was successful because:
12.Which of the following is characteristic of a bottom-up marketing approach in the digital economy?
13.In customer relationship management (CRM), there are two types of analytics used to identify, collect and report in formation. The two types of analytics are
14.A digital marketing strategy framework begins with:
15.Digital disruption in an industry refers to:
16.Which of the following industries have already been subjected to digital disruption?
17.According to Nova Spivack, Web 2.0 is:
18.High levels of digitisation are usually associated with:
19.One of the reasons that Dell Computer found it relatively easy to migrate to the web was because:
20.Which of the below is not a broadband technology?
1.What is an organisational fit ?
2.The evaluation and reward systems for which strategy comprises high incentives based on sales and share growth?
3.SBU autonomy level is moderate in which business strategy?
4.Which of the following relates to shared programs and synergy for a low-cost defender?
5.What represents the functional coordination and conflict resolution for the successful implementation of a low-cost defender strategy?
6.What does centralisation refer to ?
7.Prospector business units and their marketing departments are likely to perform better when:
8.Identify the simplest and most bureaucratic organisational design
9.Product management organisations
10.Identify the statement that relates to the market management organisation
11.The matrix form is the most
12.Regardless of the form of worker self-management, all self-managing teams are based on this concept:
13.Which global organisational type is especially appropriate when there is considerable variance across markets regarding product acceptance and marketing activities?
14.The executive summary in an annual marketing plan:
15.Key issues in an annual marketing plan:
16.Which of the following is typically included in a situation analysis?
17.Which of the following is the most crucial part of the annual marketing plan for ensuring proper execution?
18.Which section of an annual marketing plan would contain plans to be implemented if specific threats or opportunities should occur during the planning period?
19.The ___ form is the least bureaucratic or centralised and the most specialised type of organisation
0.A functional structure is likely to be appropriate when:
21.Marketing objectives are objectives that:
22.What are the first three sections in a marketing plan?
1.Identify the first step in the performance measurement process
2.All the product-market entry level, milestone achievement measures include:
3.This type of performance measure typically involves comparison of a firm’s performance in a given area against the performance of other companies.
4.Which of the following is probably the single most important measure of performance?
5.The costs of occupancy, general management and the management of the sales force are all ____ for a multiproduct business.
6.Contribution analysis:
7.What is activity-based costing?
8.What are the basic internal sources of data
9.What is the first and foremost objective for marketing
10.Once a business has established its performance standards, its next step is to:
11.Which of the following is not a variable that helps in finding useful decompositions of the sales data?
12.Advertising managers track advertising costs by:
13.What is the first step in a typical contingency planning process
14.Which stage in a contingency planning process typically follows rank ordering the critical assumptions?
15.The contingency plan for a company has an alert set at sales declines of 20 per cent or more, compared to the previous month. In which stage of the contingency planning process would such an alert be set?
16.What is the purpose of marketing functions audit?
17.The ____ evaluates the profitability of the company’s individual products, markets and key accounts
18.What would be a focus of questions relating to price while examining how adequately the firm handles each of the marketing-mix elements?
19.Which of the following is a limitation in using profitability as the sole measure of performance
20.Which of the following is a key issue in developing a set of marketing metrics as part of an overall performance measurement system?
21.When implementing strategic monitoring, the key variables to monitor are of the following two types:
