STR 581

Capstone
Final
Examination,
Part Three
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STR 581 Capstone Final

Examination, Part Three (Lattest)

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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

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

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.

16. Under which of the following conditions is the frequency the

most important factor in media selection?

When
When
When
When

introducing flanker brands

going into undefined target markets
launching infrequently purchased brands
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

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

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

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
Step
Step
Step

4
5
1
2

analyzing the information

drafting the report
defining the problem
developing the research plan

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