Deck 2: Strategic Market Planning in High-Tech Firms

Question 1

To be a source of competitive advantage,a resource must:

A)provide superior benefits to customers.
B)give the firm a cost advantage.
C)be rare.
D)be transparent.
E)a and c above

Answer 1

E

Question 2

Imitation is made more difficult when the foundation for competitive advantage is

A)observable.
B)based on complex organizational routines.
C)valuable.
D)obtainable in the market.
E)based on a tangible asset.

Answer 2

B

Question 3

Sustainability of competitive advantage requires

A)core competencies.
B)superior customer benefits.
C)unique resources.
D)difficult to imitate resources.
E)separability.

Answer 3

D

Question 4

Common resources such as managerial talent are not generally:

A)transferable.
B)a source of competitive advantage.
C)valuable.
D)important.
E)core competencies.

Question 5

This value proposition contrasts the advantages of the seller's product with that of its competition.

A)Superior customer value.
B)All Benefits.
C)Favorable Points of Difference.
D)Product Leader
E)Resonating Focus

Question 6

Base of the pyramid markets

A)represent new market space for most high-tech firms.
B)are generally unattractive.
C)are characterized by high competitive intensity.
D)have high profit margin potential.
E)are relatively small in terms of dollar volume.

Question 7

Which of the following are not ways that the Fast Follower/Analyzer can overcome the Product Leader's advantage?

A)Innovate superior products.
B)Undercut the leader on prices.
C)Be first-to-market.
D)Out advertise/out distribute the leader,thereby beating it at its own game.
E)Innovate strategies that change the rules of the game.

Question 8

Cycle costs that the customer incurs in finding,acquiring,using,maintaining,and disposing of the product.

A)Customer value
B)Competitive advantage
C)Effectiveness
D)Efficiency
E)a and b above

Question 9

The starting point in the strategic market planning process is:

A)identification of opportunities.
B)definition of mission and goals.
C)identification of markets in which the firm will compete.
D)definition of the profit dynamic.
E)SWOT analysis.

Question 10

Which of the following is an advantage to being a market follower?

A)Reputational effects
B)Switching costs
C)Opportunity for skimming
D)Lower development costs
E)Experience effects

Question 11

Which of the following is not a key strategy question?

A)Who are our target customers?
B)What value do we offer them?
C)How can we create and deliver that value effectively and efficiently?
D)Will this strategy capture a dominant share of the market?
E)All are key strategy questions.

Question 12

New market space is best described as

A)markets that are new to the company.
B)markets and products that are new to the company.
C)customers who are underserved by current offerings in the market or previously unidentified market segments.
D)a critical source of competitive advantage
E)an opportunity that is best left to established companies.

Question 13

To achieve a position of sustainable,superior competitive advantage is

A)the strategy sweet spot
B)a core competency.
C)difficult to imitate.
D)The framework for the strategic market planning process.
E)Assessed with the marketing dashboard.

Question 14

The most successful companies

A)execute a dominant strategy but demonstrate characteristics of one or two supporting types.
B)recognize that they can effectively execute only one archetype and pay little attention to developing competencies required by another archetype.
C)focus on revenue growth even if it means sacrificing profitability.
D)try to blend the best characteristics of the four strategic archetypes.
E)pursue operational excellence because most buyers seek low cost and convenience above all other sources of customer value.

Question 15

In ___________________ technology is a rapidly depreciating resource.

A)Base-of-the-pyramid markets
B)slow-cycle industries
C)fast-cycle industries
D)B-to-B markets
E)B-to-C markets

Question 16

The most successful Fast Follower/Analyzers target the

A)innovator and early adopter segments.
B)early adopter segment.
C)early adopter and early majority segments.
D)early and late majority segments.
E)late majority and laggard segments.

Question 17

______________ are the set of skills at which a company excels.

A)Managerial experiences
B)Innovative strategies
C)Core competencies
D)Intangibles
E)Technologies

Question 18

Which of the following is not a benefit to being a Product Leader?

A)Can influence how attributes are valued by customers.
B)Lower risk due to few competitors.
C)Able to "skim off" early adopters.
D)Can establish barriers to entry by followers.
E)All are benefits.

Question 19

Which of the following are examples of firm resources that may be a source of competitive advantage?

A)Distribution channels
B)Market learning competency
C)Brand names
D)Patents
E)All of the above

Question 20

Strategy innovation is primarily concerned with:

A)the strategic market planning process.
B)bringing a unique perspective to customer value creation.
C)developing innovative products.
D)entering new markets.
E)bringing new voices into the strategy formation process.

Question 21

A marketing dashboard

A)is a collection of financial metrics.
B)is a collection of non-financial metrics.
C)should reflect leading and lagging indicators of the success of the firm's marketing strategy.
D)should have a very extensive set of indicators.
E)Both b & c

Question 22

The most effective innovative firms

A)have a product focus.
B)make extensive use of formal procedures to insure conformity.
C)utilize centralized decision making to generate more product concepts.
D)are led by Transactional Leaders
E)organize around customer groups.