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Study Resources (Business Management)

    41. Successful fast followers are characterized by their strategy of: A. leapfrogging the pioneers’ product technology. B. introducing products with low cost and quality. C. entering at a lower scale than pioneers. D. maintaining extremely low promotional expenditure.     42. Which of the following strategic elements is a characteristic of successful pioneers? A. Small entry scale B. High.
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    62. Self-managing teams are based on the concept of: A. centralization of power. B. empowerment. C. formalization. D. functional management.     63. The written marketing plan is extremely important to the execution of a given strategy because it: A. provides valuable information on competitors’ recent actions. B. calls attention to what has and has not worked in the.
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True or False Questions     1. A business’s organizational structure, internal policies, procedures, and resources must fit its chosen strategy or else implementation will fall short.     2. Prospector business units are likely to perform better on the critical dimensions of new product success when organizational decision making is relatively centralized.     3. Evaluation and reward.
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  Multiple Choice Questions     31. Innovative products manufactured by a company for the first time to create an entirely different market for consumers are known as: A. product improvements. B. product line additions. C. new product lines. D. new-to-the-world products.     32. HCB Computers is a software consulting firm. The company decides to launch a GSM based Smartphone,.
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  Multiple Choice Questions     31. All of the following are examples of the promotion mix components EXCEPT: A. manufacturing. B. personal selling. C. sales promotion. D. public relations.     32. The Wall Street Journal (WSJ) publishes a front-page article that announces the introduction of a firm’s highly innovative new product. The firm has not paid the publisher for.
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    11. Smaller consumer goods marketers who have low budgets typically use pull strategies.     12. Promotional objectives serve as the basis for evaluating an advertising program once it is completed.     13. It is possible to measure the proportion of potential customers who are at each stage in the hierarchy when using communication hierarchy.
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    21. Web-based customer service applications should focus on cost-cutting, and not on customer service benefits.     22. A few companies have created a myth that the Internet is a self-service medium.     23. The concept of coproduction provides insights into new ways to serve customers better.     24. Customers’ experiences with goods and some services do.
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    11. Assurance refers to the knowledge and courtesy of employees and their ability to convey trust and confidence.     12. The two objective performance dimensions of the service delivery system are level of assurance and empathy.     13. Empathy is a crucial dimension of service quality for online consumers.     14. A gap between a customer’s.
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    41. Aloof Inc., offers t-shirts, bags, and shoes with designs based on needs of consumers. Their products include consumers’ favorite bands, favorite quotes, personal ideas, etc. Which of the following techniques is being used by Aloof Inc.? A. Collaborative filtering B. Rules-based personalization C. Customization D. Recommendation     42. What phenomenon allows marketers to reach customers.
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    11. First-mover strategy is the best strategy as it helps attract investors, makes founders and venture capitalists rich, and is a great recipe for building a great company.     12. The customer insight stage in the customer experience process requires that information flow from customer to seller.     13. Product or service delivery is.
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True or False Questions     1. The performance measurement system monitors the extent to which employees achieve their performance targets.     2. Performance measurement processes should be consistent across all organizational levels.     3. The staff organization administers the performance measurement process.     4. Line managers need to be closely involved with the development of the performance measurement.
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    61. Using a fortress strategy can very threatening when the: A. market is fragmented into major segments. B. market needs are homogeneous. C. pioneer is has the highest market share. D. market is characterized by large barriers to entry.     62. A market leader, who enjoys high market share in its industry, develops a new brand.
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  78. Explain the six-stage consumer experience process.     79. What are the critical questions to ask in developing new-economy marketing strategies? 80. Explain the time-critical factor of information that would help a firm decide if it should digitize information.       .
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    51. Rainbow, a confectionery company, puts up an ad of its new product, Pineapple Fruity Bar, on television. The company’s target market is comprised of 80,000 households in Atlanta with children below five years of age. The company estimates that the media schedule could reach 50,000 of these households. The.
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    42. When using a prospector strategy, a SBU will perform best on volume and share-growthdimensions when: A. percentage of sales spent on marketing is low. B. structure has low levels decentralization. C. structure has low levels of formalization. D. managers from R&D and engineering have little influence.     43. In a low-cost defender SBU will perform.
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    61. Under _____, companies carefully consider which burdens they can remove from the customer, using new-economy technologies, and which customers can perform, assessing costs and benefits to both parties. A. positive feedback B. causality loop C. first-mover advantage D. coproduction     62. The senior executives of Blueberry Inc., a leading firm that published graphic novels, entered.
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  Multiple Choice Questions       31. The sale of the same information to many customers, who then combine the information with information from other sources, and distribute it, is referred to as: A. customization. B. disintermediation. C. syndication. D. information dissemination.     32. A wildlife magazine conducts online photography contests and the collection of prize-winning entries of different participants.
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    51. Which of the following stages in the customer experience process ensues if a customer likes what is offered? A. Product promotion and brand building B. Customer insight C. Product disposal D. Transaction       52. Which of the following stages in the customer experience process includes additional information that may flow in either direction or additional.
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  78. Briefly describe the factors that help determine the strategic attractiveness of declining product markets.     79. Explain the aspects of a harvesting strategy and a maintenance strategy.     80. Describe the aspects of a profitable survivor strategy and a niche strategy.       .
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    21. Niche marketing firms are typically characterized by unlimited product engineering skills and resources.     22. Firms pursue niche penetration strategy to capture as many customers possible in the shortest time.     23. Exporting lowers the financial risk involved for the pioneer when entering an unfamiliar foreign market.     24. A relatively high price is appropriate.
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    21. The matrix form of organization suits prospector businesses and the management of new product development projects within analyzer or differentiated defender businesses.     22. People with expertise in purchasing, manufacturing, order delivery, and billing are most important to new product development.     23. Global organization structures can be centralized or decentralized in terms.
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True or False Questions     1. New-to-the-world products are true innovations that are new to the firm and create an entirely new market.     2. Modified products providing similar performance at lower cost are called product repositionings.     3. Products new to the company but not to the market such as new product lines present greater.
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    51. Which of the following is aimed at increasing customers’ awareness of a product? A. Increasing organizational quality control B. Spending heavily on advertising C. Including generic benefits in the product D. Providing heavy incentives to customers     52. An American automobile manufacturer decides to enter China for the first time and launch a new brand.
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  Essay Questions     71. Do the organizational structures, policies, and resources differ with each competitive strategy? Why?     72. What are the primary conditions necessary for the success of a prospector business in the critical dimensions of new product success and increased volume and market share?     73. What are the factors that are most likely.
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  74. What are the methods of maintaining a low-cost position?     75. What are the requirements for measures of satisfaction to be useful analytical tools?     76. Mention the benefits of maintaining customer retention and loyalty.     77. Describe the various ways through which an increased penetration strategy can be implemented.         .
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  Multiple Choice Questions     32. Prospector business units are likely to perform better on the critical dimensions of new product success and increased volume and market share when organizational decision making is relatively: A. federalized. B. bureaucratic. C. decentralized. D. bottom up.     33. A company following a differentiated defender strategy is most likely to have: A. moderate level.
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    21. Blogging refers to the technology that provides a way for consumers to receive audio via the internet.     22. Cost per acquisition is a useful measure for web advertising that results directly in actual customer purchases.     23. Recall tests measure the effects of TV commercials through the use of consumer panels located.
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    11. Centralization refers to the location of decision authority and control within an organization’s hierarchy.     12. In centralized units, middle- and lower-level managers have more autonomy and participate in a wider range of decisions.     13. Adaptiveness and innovativeness are enhanced when decision-making authority is centralized.     14. Differentiated defenders perform best when their organization.
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    51. The key to a differentiation strategy based on providing superior service is to: A. underestimate the level of customer expectations and meet them successfully. B. meet or exceed target customers’ service quality expectations. C. encourage customers to set unrealistically high and different expectations. D. have sympathy rather than empathy toward their customers.     52. Which.
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  74. What are some of the ethical issues and threats that digital and social networking technologies present?     75. Describe some of the techniques used to personalize and customize market offerings.     76. What is disintermediation?     77. Explain the first mover advantage and give examples of where first mover advantage has and has not been.
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True or False Questions     1. Transition periods are commonly accompanied by a shakeout during which weaker businesses fail, withdraw from the industry, or are acquired by other firms.     2. As a market matures, total volume stabilizes; replacement purchases rather than first-time buyers account for the vast majority of that volume.     3. The maturity.
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    52. _____ is the degree to which formal rules standard policies and procedures govern decisions and working relationships. A. Specialization B. Formalization C. Centralization D. Decentralization     53. Adaptiveness and innovativeness are enhanced when: A. specialization is limited in the structure. B. informal coordination is promoted. C. there are rigid rules and policies. D. decision-making authority is centralized.     54. A company’s.
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  Multiple Choice Questions     31. During a _____, the growth rate in a product-market declines and weaker businesses fail, withdraw from the industry, or are acquired by other companies. A. harvest stage B. shakeout C. market penetration D. functional performance     32. Which of the following is a primary marketing objective of all competitors in mature markets? A. Acquisition.
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    11. A follower will most likely succeed when there are few legal, technological, or financial barriers to inhibit entry.     12. Pioneers cannot quickly add line extensions or modifications to their initial product.     13. Successful fast followers can leapfrog the pioneer with superior product technology, product quality, and customer service.     14. Followers typically enter.
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    41. The quality dimension of _____ refers to the consistency of performance from purchase to purchase or to a product’s uptime, the percentage of time that it can perform satisfactorily over its life. A. reliability B. functional performance C. variety D. durability     42. Q&Q Ltd., an electronics manufacturer, advertises its refrigerators as refrigerators that emit.
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    21. When markets become more fragmented as they grow and mature, share leaders have to contract their product lines, or remove one or more flanker brands, to protect their position against competitive inroads.     22. A niche strategy can be particularly effective when the target segment is too small to appeal to.
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True or False Questions     1. Syndication involves the sale of different informational goods to different customers, who may in turn combine them with information from other sources and distribute it.     2. E*Trade, a distributor of syndicated information, brings together from many sources content relevant to its investor clientele and packages it in.
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  Essay Questions     71. Briefly explain the four elements of the promotion mix.     72. List the decision sequence for developing a promotion mix.     73. List the key elements that good promotional objectives should include.     74. Describe the three step process uses to design the promotion mix.         .
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  75. Describe the factors that determine the selection marketing strategies to achieve share-maintenance.     76. In what key ways do objectives associated with the major share maintenance strategies differ?     77. Explain the conditions under which contraction or strategic withdrawal occurs.         .
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  75. Define the following formalization, centralization, and specialization.     76. What are the conditions that can make it possible for a firm organized in the hierarchical functional form to be innovative?     77. Describe matrix organizations.         .
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    41. Advertising is more important than personal selling when: A. number and dispersion of customers is large. B. the product is highly complex. C. buyers’ information needs are high. D. much postpurchase service is required.     42. Personal selling is likely to be more important than advertising when buyers have _____ information needs and the product.
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