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Homework answers / question archive / Florida International University MAR 3023 Chapter 8-Market Strategy: Integrating the Firm’s Efforts for Marketing Success Multiple Choice Questions 1)Which of the following is considered a new way in the changing view of marketing strategy integration? a

Florida International University MAR 3023 Chapter 8-Market Strategy: Integrating the Firm’s Efforts for Marketing Success Multiple Choice Questions 1)Which of the following is considered a new way in the changing view of marketing strategy integration? a

Marketing

Florida International University

MAR 3023

Chapter 8-Market Strategy: Integrating the Firm’s Efforts for Marketing Success

Multiple Choice Questions

1)Which of the following is considered a new way in the changing view of marketing strategy integration?

a.) Market strategy drives the marketing mix.

b.) Market strategy is the marketing mix.

c.) Integration is limited to the marketing mix. d.) Marketers focus on volume and share.

 

  1. All of the following are examples of new ways in the changing view of marketing strategy integration EXCEPT:

a.) External and strategic focus to strategy

b.) Internal and budgetary focus to strategy

c.) Positioning is a crucial strategic element. d.) Integration spans all functions.

 

  1. The                                         is the firm’s game plan for the market, pointing the way to firm actions.

 

a.) product development strategy

b.) corporate strategy

c.) market strategy

d.) sales strategy

 

  1. A well-developed strategy should perform several functions that include all of the following EXCEPT:

a.) Provide strategic direction in the market

b.) Guide the effective allocation of scarce resources. c.) Secure differential advantage.

d.) All selections represent functions of a strategy.

 

  1. Which of the following types of market-segment strategy decisions relates to what the firm wants to achieve from addressing the market?

a.) Results

b.) Resources c.) Vision

d.) Actions

 

  1.     is a net benefit or cluster of benefits, offered to a sizable group of customers, which they value and are willing to pay for, but cannot get, or believe they cannot get, elsewhere.

a.) Market share

b.) Market potential

c.) Differential advantage

d.) Cross-functional coordination

 

  1. When a firm allocates resources                                   , it allocates resources among target market segments.

a.) externally

b.) internally c.) virtually

d.) transparently

 

  1. Which of the following is NOT one of the four pillars of a market-segment strategy? a.) Performance objectives

b.) Positioning

c.) Implementation programs

d.) Tactical focus

 

  1.     articulate the firm’s goals for the market segment and state clearly and simply what the firm is trying to achieve.

a.) Performance objectives

b.) Positioning

c.) Implementation programs d.) Strategic focus

 

  1. The two components of performance objectives include                               and                                   . a.) positioning and strategic focus

b.) implementation programs and operational objectives

c.) strategic objectives and operational objectives

d.) operational objectives and tactical focus

 

  1.     establish the type of results the firm intends to achieve and are qualitative and directional in nature.

a.) Functional objectives b.) Tactical objectives

c.) Operational objectives

d.) Strategic objectives

 

  1. Which of the following is NOT a broad category in which strategic objectives are grouped? a.) Profitability

b.) Cash flow

c.) Social responsibility

d.) Growth

 

  1. In the                                        and                                    stages of the product life cycle, firms often set priorities on growth and/or market share.

a.) introduction and decline b.) maturity and decline

c.) early growth and decline

d.) introduction and early growth

 

  1. While                                         are qualitative and directional, establishing the general direction the firm wants to take,                                                            are quantitative and time bound.

a.) operational objectives; strategic objectives

b.) strategic objectives; operational objectives

c.) operational objectives; tactical objectives d.) tactical objectives; operational objectives

 

  1.                                            should specify how much growth, market share, profit, and/or cash flow the firm should earn during a specific time frame.

a.) Functional objectives b.) Tactical objectives

c.) Operational objectives

d.) Strategic objectives

 

  1. Typically a firm sets operational objectives                                      in the strategic marketing plan. a.) by day

b.) by week c.) by month

d.) by year

 

  1.                                         determines where to allocate resources once the firm has established performance objectives for its market-segment strategy.

a.) Performance objectives b.) Positioning

c.) Implementation programs

d.) Strategic focus

 

  1. Which of the following is NOT a method used to increase unit sales volume resulting in improved profits?

a.) Increase customer use.

b.) Attract customers from competitors.

c.) Decrease customer retention

d.) Secure new business.

 

  1. All of the following are methods used to improve margins and investment returns EXCEPT: a.) Raise prices.

b.) Improve the sales mix.

c.) Increase operating costs.

d.) Improve asset utilization.

 

  1. A(n)

a.) guarantee b.) warranty

c.) spiff

d.) cross sell

 

is a cash incentive for retailer and distributor salespeople.

 

 

  1. In which of the following stages of the product life cycle do high-market-share leaders typically focus on retaining existing customers and increasing their purchases?

a.) Introduction stage

b.) Late maturity stage

c.)   Early growth stage d.) Pre-introduction stage

 

  1. In which of the following stages of the product life cycle do low-market-share leaders typically focus on attracting competitors’ customers?

a.) Introduction stage

b.) Maturity stage

c.)   Early growth stage d.) Pre-introduction stage

 

  1. Which of the following is NOT mentioned in the text as a tactics used to increase usage of a product by customers?

a.) Reduce the unit of purchase.  b.) Increase the rate of product obsolescence. c.) Find new uses for the product.

d.) Provide price incentives to purchase larger quantities.

 

  1. Which of the following options for improving margins and investment returns is the most straightforward?

a.)   Improve the sales mix. b.) Reduce operating costs. c.) Improve asset utilization.

d.) Increase prices.

 

 

  1. According to the text, strategy.

a.) segmentation

b.) positioning

c.)   downsizing d.) cost reduction

 

is sometimes called the heart of the product/market

 

 

  1. The purpose of                                      is to create a unique and favorable image for the firm’s products in the customer’s mind.

a.) segmentation b.) downsizing

c.) positioning

d.) cost reduction

 

  1. All of the following represent basic dimensions that are important when choosing customer targets EXCEPT:

a.) Choosing the distribution system

b.) Targeting levels within the distribution system c.) Targeting specific person type/roles

d.) Choice of geographic location of headquarters

 

  1. Which of the following strategic alternatives does NOT relate directly to increasing profit margins? a.) Raising price

b.) Improving asset utilization

c.) Improving sales mix

d.) Reducing operating cost

 

  1. Positioning requires the firm to make all of the following key decisions EXCEPT:

a.) Determine the firm’s asset utilization.

b.) Select customer targets. c.) Frame competitor targets.

d.) Design the value proposition.

 

  1. For which of the following strategies does the firm place most marketing effort upstream on direct customers like manufacturers and distributors?

a.) Pull strategy

b.) Cross-sell strategy

c.) Push strategy 

d.) Virtual strategy

 

  1. Using the                                   , a firm places most marketing effort downstream on indirect customers which are consumers and end users.

a.) pull strategy

b.) cross-sell strategy c.) push strategy

d.) virtual strategy

 

  1. Examples of a person who will benefit in a personal way from a purchase decision but does not personally carry the cost include all of the following EXCEPT:

a.) Children as a means of influencing parental decisions b.) Architects, interior designers, product designers

c.) Accountants, financial advisors, and lawyers for customers with investable funds

d.) Ultimate consumers and users of a company’s product or service

 

  1. A well-designed                                    provides a convincing answer to a deceptively simple question: “Why should target customers prefer the firm’s offer to those of competitors?”

a.) strategic focus

b.) value proposition

c.) operational focus d.) cross-sell strategy

 

  1. The                                       is the firm’s major competitive weapon for attracting, retaining, and growing customers; it also defines the firm’s implementation focus.

a.) strategic focus

b.) value proposition

c.) operational focus d.) cross-sell strategy

 

  1. Positioning statements should meet all of the following criteria EXCEPT: a.) Be compelling.

b.) Be sustainable.

c.) Be common.

d.) Be authentic.

 

  1. When a firm targets multiple segments, it faces all of the possible situations in implementation EXCEPT:

a.) Independence

b.) The firm faces all of the situations during implementation.

c.) Positive synergies d.) Negative synergies

 

 

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