Question 1

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed Period."

Accepted Answer

The statement refers to Lands' End's commitment to its customers by accepting any return, for any reason.

Question 2

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

Accepted Answer

The technique described in the question is known as business portfolio analysis, which involves categorizing strategic business units as question marks (high growth, low market share), stars (high growth, high market share), cash cows (low growth, high market share), or dogs (low growth, low market share). This analysis helps managers assess the performance and potential of each unit within the company's portfolio to make informed decisions about investment and growth strategies.

Question 3

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

Accepted Answer

Weight Watchers' brand recognition and meeting infrastructure provide the company with a competitive advantage, making it difficult for competitors to match its offerings.

Question 4

Business portfolio analysis refers to

Accepted Answer

The answer of Business portfolio analysis refers to
...

Question 5

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

Accepted Answer

The Boston Consulting Group uses business portfolio analysis to evaluate each strategic business unit (SBU) as if it were a separate investment. This allows them to identify which SBUs are generating high returns and which SBUs require investment to improve their performance. This approach is similar to how an investor would evaluate a portfolio of stocks or assets.

Question 6

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects

Accepted Answer

The vertical axis is the market growth rate,which is the annual rate of growth of the SBU's industry.The horizontal axis is the relative market share,defined as the sales of the SBU divided by the sales of the largest firm in the industry.

Question 7

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

Accepted Answer

The Boston Consulting Group uses business portfolio analysis to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were a collection of separate investments. Business portfolio analysis involves categorizing a company's products or services based on their market share and growth rate, and then evaluating them using the BCG matrix to determine which products or services should be invested in or divested from. Target marketing and market-product grids are marketing tools used to identify target customers and products, respectively. Synergy analysis and diversification analysis are strategies used to maximize the value of a company through mergers, acquisitions, and expansion into new markets.

Question 8

In a BCG growth-share matrix, a relative market share of 10 × at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1 × at the right end of the scale on its horizontal axis means that

Accepted Answer

A relative market share of 0.1 × at the right end of the scale on its horizontal axis means that the SBU has only 10 percent of the share of its largest competitor.

Question 9

All of the following retailers are principal or direct competitors to Lands' End except

Accepted Answer

Pierre Cardin does not sell the same types of clothing and merchandise as Lands' End, making them an indirect competitor at best. The other choices all sell similar products and are more direct competitors to Lands' End.

Question 10

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

Accepted Answer

A unique strength relative to competitors that provides superior returns is referred to as a competitive advantage. This can be based on quality, time, cost, or innovation, and allows a company to differentiate themselves from competitors and gain a larger market share.

Question 11

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. In a growth-share matrix, the horizontal axis of the matrix indicates

Accepted Answer

The vertical axis is the market growth rate,which is the annual rate of growth of the SBU's industry.The horizontal axis is the relative market share,defined as the sales of the SBU divided by the sales of the largest firm in the industry.

Question 12

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

Accepted Answer

Men's Wearhouse's focus on convenience and affordability provides a competitive advantage in the retail industry.

Question 13

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

Accepted Answer

Business portfolio analysis helps managers evaluate the potential of each of their businesses or product lines and allocate resources accordingly. Diversification analysis helps managers decide whether to enter new markets or develop new products, and how those decisions will affect the overall portfolio of the organization.

Question 14

<no longer> Lands' End is primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

Accepted Answer

Lands' End is primarily known as a catalog retailer, which means it competes with other catalog retailers, traditional department stores, mass merchandisers, specialty shops, and other retailers. Therefore, these are Lands' End's competitors.

Question 15

The purpose of business portfolio analysis is to

Accepted Answer

Business portfolio analysis is used to evaluate the performance and potential of a company's strategic business units or offerings to allocate resources effectively.

Question 16

Netflix is a company that rents DVD movies and television either by mail or streaming over the Internet. It jumped into an industry where there were many competitors, both local and national video stores. Initially, it established a loyal clientele by providing a service that was not available-reliable and fast shipment. Its delivery system created Netflix's

Accepted Answer

Netflix's reliable and fast shipment system gave it an edge over its competitors, establishing a competitive advantage in the industry.

Question 17

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the vertical axis reflects

Accepted Answer

The vertical axis is the market growth rate,which is the annual rate of growth of the SBU's industry.The horizontal axis is the relative market share,defined as the sales of the SBU divided by the sales of the largest firm in the industry.

Question 18

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

Accepted Answer

St. Jude Medical's innovation in cardiac devices is the factor that helps it outperform rivals, which gives it a competitive advantage in the industry.

Question 19

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. In a growth-share matrix, the vertical axis of the matrix indicates

Accepted Answer

The vertical axis of the growth-share matrix in the BCG analysis represents the annual rate of growth of the SBU's industry. This helps to determine the market growth potential of the SBU and identify whether it is a high growth or low growth unit. The horizontal axis represents the relative market share of the SBU, which helps to determine whether the unit is a cash cow, star, question mark, or dog.

Question 20

A competitive advantage refers to

Accepted Answer

A competitive advantage refers to a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation. It is something that sets a company apart from its competitors and makes it more profitable, sustainable and successful in the long-term.

Quiz 2: Developing Successful Organizational and Marketing Strategies

The online retailer Lands' End communicates a remarkable commitment to its __________ with these unconditional words: "We accept any return, for any reason. Guaranteed Period."

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

Business portfolio analysis refers to

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

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects

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

In a BCG growth-share matrix, a relative market share of 10 × at the left end of the scale on its horizontal axis means that the SBU has 10 times the share of its largest competitor, whereas a relative market share of 0.1 × at the right end of the scale on its horizontal axis means that

All of the following retailers are principal or direct competitors to Lands' End except

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

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. In a growth-share matrix, the horizontal axis of the matrix indicates

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

<no longer> Lands' End is primarily known as a catalog retailer. This means that traditional department stores, mass merchandisers, specialty shops, and other catalog retailers are considered to be Lands' End's

The purpose of business portfolio analysis is to

In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the vertical axis reflects

The Boston Consulting Group (BCG) business portfolio analysis requires an organization to locate the position for each of its strategic business units (SBUs) on a growth-share matrix. In a growth-share matrix, the vertical axis of the matrix indicates

A competitive advantage refers to