Question 1

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as
A) points of differences.
B) sustainable advantages.
C) core values.
D) points of similarity.
E) competencies.

Accepted Answer

The term that describes an organization's distinct capabilities and resources is "competencies." These can include specialized skills, technology, and other resources that set the organization apart from its competitors and allow it to provide unique value to its customers. Options A and B are related concepts, but they generally refer to specific features or advantages of a product or service rather than broader organizational capabilities. Option C refers to an organization's fundamental beliefs and principles, rather than its unique capabilities. Option D suggests that two organizations have similarities, rather than distinct differences.

Question 2

Men's Wearhouse caters to the man who doesn't necessarily enjoy shopping. Its stores are in free-standing locations (not inside the mall) so customers can get in and out quickly. Additionally, Men's Wearhouse targets the budget-conscious consumer with suit prices ranging from $150 to $850. The location of its stores and its pricing strategy both are part of Men's Wearhouse's
A) competitive advantage.
B) core values.
C) core benefit proposition.
D) marketing edge.
E) viable mission.

Accepted Answer

Men's Wearhouse's location strategy and pricing strategy both give them a competitive advantage in the market. They cater to a specific niche of customers who want to quickly and affordably purchase suits, which sets them apart from other retailers.

Question 3

An organization's competencies include all of the following except which?
A) profit
B) customer service
C) technologies
D) resources
E) employee skills

Accepted Answer

Profit is an outcome or result of utilizing competencies, not a competency itself. Competencies are the skills, technologies, resources, and customer service capabilities that an organization possesses.

Question 4

Which of the following best describes the principal or direct competitors to Lands' End, the catalog and online clothing retailer?
A) all Internet retailers
B) other Internet retailers that sell primarily clothing
C) all other lifestyle brands
D) other clothing retailers, both online and store-only
E) other retailers that began selling with catalogs

Accepted Answer

Lands' End's principal competitors are other clothing retailers, whether they operate online or through physical stores, as they target the same market segment of clothing consumers.

Question 5

The Boston Consulting Group uses ________ to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings as though they were a collection of separate investments.
A) target marketing
B) synergy analysis
C) market-product grids
D) business portfolio analysis
E) diversification analysis

Accepted Answer

The technique described is business portfolio analysis, which is a tool used by the Boston Consulting Group to assess its clients' SBUs or offerings as separate investments. Target marketing involves identifying and targeting specific customer segments. Synergy analysis involves assessing the potential benefits of combining two or more entities. Market-product grids are a tool for analyzing market segments and products. Diversification analysis is a method of assessing the potential risks and rewards of expanding a company's product line or entering new markets.

Question 6

Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals. Due to the resources it makes available to its scientists and researchers, the company has a number of Nobel Prize winners working in its laboratories. This ability to employ some of the finest minds in the world is an example of a
A) point of similarity.
B) competency.
C) sustainable advantage.
D) product development strategy.
E) human resource strategy.

Accepted Answer

The answer of Rhone-Poulenc is an international French company that...

Question 7

A technique that managers use to categorize strategic business units as question marks, stars, cash cows, or dogs is referred to as
A) an investment (ROI) analysis.
B) a synergy analysis.
C) a marketing audit.
D) a diversification analysis.
E) a business portfolio analysis.

Accepted Answer

The technique described is commonly referred to as business portfolio analysis or the Boston Consulting Group (BCG) matrix. It is used to categorize a company's products or strategic business units based on their position in the company's overall portfolio, and the potential for growth and profitability. The categories of question marks (high growth, low market share), stars (high growth, high market share), cash cows (low growth, high market share), and dogs (low growth, low market share) are used to help managers make decisions about which products or business units to invest in or divest from, based on their potential for future success.

Question 8

The online retailer Lands' End communicates a remarkable commitment to its ________ with these unconditional words: "Guaranteed.
A) competitive advantage
B) core values
C) core benefit proposition
D) customers
E) mission statement

Accepted Answer

Lands' End's commitment is directed towards its customers, as indicated by the guarantee, which is a promise made to them.

Question 9

The numeric information displayed in Figure 2-3c above allows the viewer to quickly identify which states and even regions have the most monthly website visits, which is a form of
A) market segmentation.
B) data visualization.
C) diversification analysis.
D) business modeling.
E) portfolio analysis.

Accepted Answer

The answer of The numeric information displayed in Figure 2-3c...

Question 10

Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's
A) consideration set.
B) industry.
C) competitors.
D) target market.
E) stakeholders.

Accepted Answer

Competitors are businesses that offer similar products or services to the same customer group. As Lands' End competes with traditional department stores, mass merchandisers, specialty shops, and other catalog retailers, they are considered competitors.

Question 11

Two commonly used techniques to aid managers with important decisions for setting a direction and allocating resources include ________ and ________ analysis strategies.
A) micromarketing; macromarketing
B) business portfolio; diversification
C) investment; divestment
D) dashboards; metrics
E) subjective; objective

Accepted Answer

The two commonly used techniques to aid managers with important decisions for setting a direction and allocating resources include business portfolio analysis strategies and diversification. Business portfolio analysis is a technique that helps managers determine which businesses to invest in and which ones to divest based on their market growth rate and relative market share, while diversification involves adding new products, services, or businesses to an existing portfolio to spread risk and increase opportunities for growth.

Question 12

Weight Watchers is a weight-management company with operations in about 30 countries. Consumers buy almost $5 billion of Weight Watchers-branded products each year, and every week approximately 1.3 million people attend Weight Watchers meetings. The company's brand recognition and meeting infrastructure are difficult for competitors to match, providing a
A) viable mission.
B) competitive advantage.
C) tactical innovation.
D) core benefit.
E) sales orientation.

Accepted Answer

Weight Watchers' brand recognition and meeting infrastructure provide a competitive advantage, as competitors would find it difficult to match their offerings.

Question 13

Business portfolio analysis refers to
A) a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products.
B) a technique that managers use to graphically track their firm's strategic business units as though they were a single expense in order to identify cost-cutting measures.
C) a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units as though they were a collection of separate investments.
D) an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm.
E) a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Accepted Answer

Business portfolio analysis is a technique used by managers to analyze their firm's strategic business units as separate investments. It involves quantifying performance measures and growth targets to identify areas of investment and divestment. This technique helps firms allocate resources effectively and identify opportunities for growth. Option A refers to market development, option B refers to expense tracking, option D refers to market share analysis, and option E refers to efficiency optimization.

Question 14

Evergreen Air Center is the world's biggest parking lot for unwanted aircraft. Airlines pay a monthly fee from $750 to $5,000 to mothball their unneeded airplanes there. Its location is on 1,600 acres of Arizona desert near Tucson. The Southwest climate of dry, warm air serves as a cheap and effective airplane preservative against rust. Evergreen's location is
A) a competency.
B) a sustainable advantage.
C) a competitive identity.
D) a core benefit proposition.
E) an innovative distinction.

Accepted Answer

The answer of Evergreen Air Center is the world's biggest...

Question 15

Netflix is a company that rents DVD movies and television programming either by mail or streaming over the Internet. It faces many competitors, but continues to grow both in the United States and abroad. Netflix now has around 47 million subscribers in the United States out of 82 million worldwide. Part of what has driven success in recent years is its original content, with shows like Stranger Things and 13 Reasons Why, popular programming that cannot be seen elsewhere. Its original content provides Netflix's
A) viable mission.
B) competitive advantage.
C) tactical innovation.
D) core benefit.
E) sales orientation.

Accepted Answer

Netflix's original content provides a competitive advantage because it offers unique programming that differentiates it from competitors and attracts subscribers.

Question 16

The purpose of business portfolio analysis is to
A) add or delete product line and brand extensions.
B) search for growth opportunities from among current and new markets as well as current and new products.
C) alter a product's characteristic, such as its quality, performance, or appearance, to increase its value to customers and increase sales.
D) determine which strategic business unit or offering generates cash and which one requires cash to fund the organization's growth opportunities.
E) seek opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies.

Accepted Answer

The answer of The purpose of business portfolio analysis is...

Question 17

Designing a car is expensive and time-consuming even with the use of computers because of the difficulty of getting all the varied departments to work together. Mercedes-Benz created a unique centralized web-based system that cuts the design and production process by at least two years, thus providing customer value. This is an example of
A) a point of similarity.
B) an innovation-oriented mission.
C) an action program.
D) an operational goal implementation.
E) a competency.

Accepted Answer

The answer of Designing a car is expensive and time-consuming...

Question 18

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings
A) as if each were a separate investment.
B) to establish their worth to society at large.
C) to determine which would be suited for a SWOT analysis.
D) to determine which units are candidates for diversification analysis.
E) to determine which units can be divided into smaller, tactical business units.

Accepted Answer

Business portfolio analysis involves evaluating each SBU or offering as a separate investment and determining its market growth rate and relative market share, which helps in quantifying its performance measures and growth targets.

Question 19

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation, is referred to as a
A) creative advantage.
B) marketing edge.
C) distinctive competency.
D) competitive advantage.
E) core benefit.

Accepted Answer

A competitive advantage is a unique strength that sets a company apart from its competitors, allowing it to generate greater returns. This can be based on a variety of factors such as quality, time, cost, or innovation.

Question 20

St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Its products include tissue heart valves, pacemakers, and implantable cardiovascular defibrillators. St. Jude's innovation in cardiac devices helps it outperform rivals, and thus provides it with a
A) competitive advantage.
B) set of core values.
C) core benefit proposition.
D) marketing edge.
E) viable mission.

Accepted Answer

St. Jude Medical's innovation in cardiac devices provides it with a competitive advantage over its rivals.

Quiz 2: Developing Successful Organizational and Marketing Strategies

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as

An organization's competencies include all of the following except which?

Which of the following best describes the principal or direct competitors to Lands' End, the catalog and online clothing retailer?

The Boston Consulting Group uses ________ to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings as though they were a collection of separate investments.

A technique that managers use to categorize strategic business units as question marks, stars, cash cows, or dogs is referred to as

The online retailer Lands' End communicates a remarkable commitment to its ________ with these unconditional words: "Guaranteed.

The numeric information displayed in Figure 2-3c above allows the viewer to quickly identify which states and even regions have the most monthly website visits, which is a form of

Lands' End is primarily known as a catalog clothing retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Two commonly used techniques to aid managers with important decisions for setting a direction and allocating resources include and analysis strategies.

Business portfolio analysis refers to

The purpose of business portfolio analysis is to

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units (SBUs) or offerings

A unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation, is referred to as a