STR581 week 6 Capstone Exams
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STR581 week 6 Capstone Exams
1) Designing a research plan calls for decisions on all of the following EXCEPT ________.
A. research instruments
B. research approaches
C. drafting research objectives
D. sampling plans
E. data sources
2) One set of consumers, during a focus-group session, indicated that Dell computers reminded them of a surfer, Apple computers were equated to a mad scientist, and IBM computers to Scrooge from the Dickens’s tale. Which of the following qualitative research approaches matches to the approach described above?
A. Laddering
B. Brand personification
C. Projective techniques
D. Pyramiding
E. Visualization
3) The marketing manager needs to know the cost of the research project before approving it. During which of the following stages of the marketing research process would such a consideration most likely take place?
A. Step 2—develop the research plan
B. Step 1—drafting the research objectives
C. Step 1—defining the problem
D. Step 3—information collection
E. Step 1—creating decision alternatives
4) When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.
A. competitive advantage strategy
B. value-added strategy
C. defined strategy
D. customer-focused strategy
E. focused strategy
5) 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?
A. the product-launch plan
B. the deployment plan
C. the tactical marketing plan
D. the product-development plan
E. the target marketing plan
6) If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution.
A. domestic customer relationship
B. focus
C. differentiation
D. market share
E. overall cost leadership
7) What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?
• Altered pricing
• Regular prices
• Fixed pricing
• Price adaptation
8) 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.
• Preferencing
• Differentiation
• Broadening
• Diversification
9) 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.
• Discretionary responsibility
• Employee responsibility
• Economic responsibility
• Legal responsibility
10) 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.
• Customer analysis
• Company analysis
• Business analysis
• Competitive analysis
11) 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 5 – drafting the report
• Step 4 – analyzing the information
• Step 2 – developing the research plan
• Step 1 – defining the problem
12) The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda
• sustainability
• rules
• righteousness
• ethics
13) 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
• ethical responsibilities
• agency theory
• Adam’s theory
• the moral hazard problem
14) 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 long-term than business strategies.
• Functional tactics are more specific than business strategies.
• Functional tactics are more focused on a commitment to corporate strategy than business strategies.
15) The strategic factor that involves the beliefs, values, attitudes, opinions, and lifestyles of persons in the firm’s external environment, as developed from cultural, ecological, demographic, religious, educational, and ethnic conditioning.
• Social factor
• Political factor
• Economic factor
• Stakeholder factor
16) This is a historically popular technique through which managers create a quick overview of a company's strategic situation—it is based on achieving a sound fit between internal resources and the external situation.
• SWOT analysis
• External analysis
• Value chain analysis
• Internal analysis
17) BMW's "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 ________.
A) brand slogan
B) brand personality
C) brand mission
D) brand architecture
E) brand vision
18) All marketing strategy is built on STPsegmentation, targeting, and ________.
A) positioning
B) product
C) planning
D) promotion
E) performance
19) ________ is the act of designing the company's offering and image to occupy a distinctive place in the minds of the target market.
A) Positioning
B) Valuation
C) Pricing
D) Commercialization
E) Launching
20) The result of positioning is the successful creation of ________, which provides a cogent reason why the target market should buy the product.
A) an award-winning promotional campaign
B) a customer-focused value proposition
C) a demand channel
D) everyday low pricing
E) employee value proposition
21)Which of the following best describes a car company's value proposition?
A) We charge a 20% premium on our cars.
B) We target safety-conscious upscale families.
C) We sell the safest, most durable wagon.
D) We are the market leader in the small car category.
E) We focus on expanding in faster-growing markets.
22) 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.
• split loyals
• hard-core loyals
• switchers
• shifting loyals
23) This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid
• Special alert control
• Premise control
• Strategic surveillance
• Implementation control
24) 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 product’s performance, versatility, safety, or convenience.
• style improvement
• quality improvement
• feature improvement
• technological improvement
25) Which control should periodically reassess its approach to the marketplace with a good marketing audit?
• Performance control
• Strategic control
• Marketing control
• Ethical control
26) 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?
• Complete marketing benefit
• Ultimate service benefit
• Total management benefit
• Total customer benefit
27) New-to-the-world products are ________.
• new products that create an entirely new market
• new product enhancements that supplement established products
• existing products that are targeted to new geographical markets
• low-cost products designed to obtain an edge in highly competitive markets
28) 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?
• Customer intimacy
• Low-cost leadership
• Product leadership
• Operational excellence
29) With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
• selective specialization
• product specialization
• market specialization
• single-segment concentration
30) When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves
• horizontal integration
• concentrated growth
• concentric diversification
• vertical diversification
31) Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities.
• Cost leadership
• Concentrated growth
• Differentiation
• Focus
32)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?
33) With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
a. single-segment concentration
b. selective specialization
c. product specialization
d. market specialization
e. full market coverage
34) Under which of the following conditions is the frequency the most important factor in media selection?
A) when introducing flanker brands
B) when launching infrequently purchased brands
C) when going into undefined target markets
D) when there is high consumer resistance to the product
E) when there is modest competition to the brand in the market
35) Which of the following is true for customer-perceived value?
A) It is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a product.
B) It is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
C) It is the perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering.
D) It is the net present value of the stream of future profits expected over the customer's lifetime purchases.
E) It is the process of investigating the hierarchy of attributes consumers examine in choosing a brand if they use phased decision strategies.
36) Which control should periodically reassess its approach to the marketplace with a good marketing audit?
• Ethical control
• Strategic control
• Performance control
• Marketing control
37) Large-scale, future-oriented plans, for interacting with the competitive environment to achieve company objectives refers to its
A. Strategy
B. Goals
C. Competitive analysis
D. Dynamic policies
38) 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 ________.
A) market partitioning
B) brand association
C) market valuation
D) market estimation
E) market identification
- 10 years ago
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