Deck 10: Marketing and Business Strategy

Question 1

Which of the following objectives is concerned with strategic marketing planning?

A)Day to day performance and results.
B)Over-all long term organizational growth.
C)Identifying the strengths and weaknesses of marketing department
D)None of the above.

Answer 1

Over-all long term organizational growth.

Question 2

Which sources of advantage will be helpful for a firm to achieve positional advantage over its competitors?

A)Superior skills.
B)Superior resources.
C)Superior controls.
D)All of the above a, b and c.

Answer 2

All of the above a, b and c.

Question 3

What are the elements that a mission statement of an organization should include?

A)Sets guidelines for business operations
B)Identifies the reasons for existence of a company and its responsibilities to the stakeholders
C)Identifies the firms customers and their needs and marches them with products and services.
D)All of the above A, B and c.

Answer 3

All of the above A, B and c.

Question 4

The term which is used to identify the major areas of business of a diversified organization is.

A)Business area.
B)Business segment, group or diversion
C)Business scope.
D)Diversified business.

Question 5

Business composition is the term used while framing the following strategies. What are they?

A)Corporate strategy.
B)Marketing strategy.
C)Business strategy.
D)Both A and b.

Question 6

Which of the following is not the characteristics of a strategic business unit?

A)It serves a homogenous set of markets with a limited number of related technologies
B)It serves a unique set of products.
C)It owns responsibility for its own profitability.
D)None of the above.

Question 7

According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.

A)Invest/growth
B)Selective investment /maintain position.
C)Harvest/divest
D)None of the above.

Question 8

Which of the following will act as a corner stone in maintaining the competitiveness of company

A)Market focus.
B)Defining capabilities.
C)Relationships and organizational change.
D)None of the above.

Question 9

Which analysis compares the strengths and weaknesses of a firm against the opportunities and threats in the external environment.

A)Environmental analysis.
B)Business analysis.
C)SWOT analysis.
D)None of the above.

Question 10

Which of the following is not included in the list of macro environmental variables.

A)Prevailing economic conditions and political manifestors.
B)Changes in legislation and emerging new technologies.
C)Financial conditions and culture.
D)None of the above.

Question 11

What is the term used if management wants to audit the key management functions like sales force, advertising or pricing?

A)Vertical audit
B)Horizontal audit.
C)External audit.
D)None of the above.

Question 12

The best way for a retailer to differentiate itself in the eyes of the consumer form the competitions is to.

A)increase advertising of sale items.
B)offer the lowest prices in town.
C)always be well stocked with the basic items that customers would expect to find in your store.
D)not sell any of the brand names the competition is selling.

Question 13

The boomerang effect is a relatively new phenomenon that describes

A)the recent trend for firms to seek bankrupts protection.
B)the way styles from years ago come back as today's most popular styles.
C)the recent trend of children returning to live with their parents after having already moved out.
D)the recent trend of having most companies report losses for the current quarter .

Question 14

The final stage of the consumer shopping/purchase model around which all other stages revolves is the.

A)buy decision stage.
B)active information gathering stage.
C)purchase stage.
D)post-purchase evaluation stage.

Question 15

What type of competitive structure are most retail firms involved in?

A)horizontal competition.
B)monopolistic competition.
C)vertical competition.
D)pure competition.

Question 16

Which of the following marketing functions is one the retailer could not perform?

A)selling.
B)sorting.
C)location analysis.
D)buying.

Question 17

Facilitating institutions may best be described as specialists that.

A)take title but not possession of the merchandise.
B)take title to the merchandise in order to facilitate the transaction
C)manage the channel so as to increase over-all efficiency marketing functions
D)perform certain marketing functions, in which they have an expertise, for other channel members.

Question 18

The --- provides the retailer with a picture of the organization's profit and loss situation

A)expense report.
B)index of inventory valuation.
C)statement of cash flow.
D)income statement.

Question 19

What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?

A)independent.
B)separate.
C)interactive.
D)competitive.

Question 20

If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?

A)two-price
B)customary.
C)flexible.
D)leader.

Question 21

Which of the following areas should not be taken into consideration when formulating a retailer's promotional strategy?

A)the retailers credit customers.
B)the price level of the merchandise.
C)merchandise inventory levels.
D)the retailer's net worth.

Question 22

The two objectives of institutional advertising include:.

A)creating a positive store image and public service promotion
B)publicity and sales promotions.
C)advertising a sale and generating store
D)none of the above