Question 1

A strategic group is

Accepted Answer

A)  a group of firms pursuing the same or similar strategy with similar resources. 
B)  a group of firms pursuing the different strategy with similar resources. 
C)  a group of firms pursuing the same strategy with different resources. 
D)  a group of competitors that fight against each other. 
A)  a group of firms pursuing the same or similar strategy with similar resources. 
B)  a group of firms pursuing the different strategy with similar resources. 
C)  a group of firms pursuing the same strategy with different resources. 
D)  a group of competitors that fight against each other. A

Question 2

Which of the following is NOT a common reaction profile of competitors?

Accepted Answer

A)  Laid back competitors 
B)  Selective competitor 
C)  Tiger competitor 
D)  Innocent competitor 
A)  Laid back competitors 
B)  Selective competitor 
C)  Tiger competitor 
D)  Innocent competitor D

Question 3

What is 'benchmarking'?

Accepted Answer

A)  It is an internal soul searching exercise. 
B)  It is a one-off analysis of competitors. 
C)  It is a continuous process of measuring products, services, and practices against those offered by leading competitors. 
D)  None of the options given are correct. 
A)  It is an internal soul searching exercise. 
B)  It is a one-off analysis of competitors. 
C)  It is a continuous process of measuring products, services, and practices against those offered by leading competitors. 
D)  None of the options given are correct. C

Question 4

Using Porter's Value Chain analysis competitive advantage can arise from

Accepted Answer

A)  providing buyer value similar to competitors. 
B)  performing value chain activities in the same ways that create identical buyer value like competitors. 
C)  differentiation-based advantage. 
D)  providing buyer value comparable to competitors but performing value chain activities more efficiently, or performing value chain activities in unique ways that create greater buyer value than competitors and hence command a premium price. 
A)  providing buyer value similar to competitors. 
B)  performing value chain activities in the same ways that create identical buyer value like competitors. 
C)  differentiation-based advantage. 
D)  providing buyer value comparable to competitors but performing value chain activities more efficiently, or performing value chain activities in unique ways that create greater buyer value than competitors and hence command a premium price.

Question 5

What does the acronym in the PESTLE framework stand for?

Accepted Answer

A)  Police factors, socio-cultural factors, economic factors, travel factors 
B)  Police factors, socio-cultural factors, economic factors, technological factors 
C)  Political factors, economic factors, socio-cultural factors, technological factors, legal factors, environmental factors 
D)  Police factors, socio-cultural factors, emotional factors, travel factors 
A)  Police factors, socio-cultural factors, economic factors, travel factors 
B)  Police factors, socio-cultural factors, economic factors, technological factors 
C)  Political factors, economic factors, socio-cultural factors, technological factors, legal factors, environmental factors 
D)  Police factors, socio-cultural factors, emotional factors, travel factors

Question 6

What does the PESTLE framework help us to do?

Accepted Answer

A)  Kill pests 
B)  Analyse the macro environment 
C)  Develop winning strategies 
D)  Develop a plan of action 
A)  Kill pests 
B)  Analyse the macro environment 
C)  Develop winning strategies 
D)  Develop a plan of action

Question 7

What does the Porter's Value Chain Model help us to do?

Accepted Answer

A)  Help analyse a firm's unique advantage 
B)  Help analyse a firm's selling points 
C)  Help analyse a firm's competitive advantage and its core competencies 
D)  Help analyse firm's marketing environment 
A)  Help analyse a firm's unique advantage 
B)  Help analyse a firm's selling points 
C)  Help analyse a firm's competitive advantage and its core competencies 
D)  Help analyse firm's marketing environment

Question 8

Which of the following is NOT true of the Porter's five forces model?

Accepted Answer

A)  The collective strength of these forces determines the ultimate profit potential in the industry and the firms' ability to earn rates of ROI in excess of cost of capital. 
B)  The stronger the force is, the more limited the companies are in raising prices and earning greater profits. 
C)  A strong force may be regarded as a threat as it reduces the company's bargaining power and is likely to affect profit. 
D)  All of the options given are correct. 
A)  The collective strength of these forces determines the ultimate profit potential in the industry and the firms' ability to earn rates of ROI in excess of cost of capital. 
B)  The stronger the force is, the more limited the companies are in raising prices and earning greater profits. 
C)  A strong force may be regarded as a threat as it reduces the company's bargaining power and is likely to affect profit. 
D)  All of the options given are correct.

Question 9

What does PIMS stand for?

Accepted Answer

A)  Profit and Income for Markets Systems 
B)  Profit Impact of Market Strategy 
C)  Profit Impact on Managerial Strategy 
D)  Profit and Income of Market Strategy 
A)  Profit and Income for Markets Systems 
B)  Profit Impact of Market Strategy 
C)  Profit Impact on Managerial Strategy 
D)  Profit and Income of Market Strategy

Question 10

What is the difference between SWOT analysis and the TOWS matrix?

Accepted Answer

A)  SWOT is more effective than TOWS. 
B)  Both use the same inputs, but TOWS integrates them more strategically. 
C)  TOWS is more effective than SWOT. 
D)  TOWS focuses on action; SWOT does not. 
A)  SWOT is more effective than TOWS. 
B)  Both use the same inputs, but TOWS integrates them more strategically. 
C)  TOWS is more effective than SWOT. 
D)  TOWS focuses on action; SWOT does not.

Question 11

In the SO quadrant of the SWOT/TOWS matrix what should the company do?

Accepted Answer

A)  Develop strategies to overcome organizational weakness 
B)  Develop strategy to overcome organizational weakness in light of environmental threats 
C)  Develop strategy to leverage organizational strengths to maximize environmental opportunity 
D)  Develop strategy to leverage organizational strengths to maximize environmental threats 
A)  Develop strategies to overcome organizational weakness 
B)  Develop strategy to overcome organizational weakness in light of environmental threats 
C)  Develop strategy to leverage organizational strengths to maximize environmental opportunity 
D)  Develop strategy to leverage organizational strengths to maximize environmental threats

Question 12

What is NOT a critique of Porter's five forces?

Accepted Answer

A)  That Porter's list is not an exhaustive one. 
B)  That there could be a sixth force. 
C)  That Porter gives no indication of how to operationalize any analysis. 
D)  All the options given are correct. 
A)  That Porter's list is not an exhaustive one. 
B)  That there could be a sixth force. 
C)  That Porter gives no indication of how to operationalize any analysis. 
D)  All the options given are correct.

Question 13

In the WT quadrant of the SWOT matrix what should the company do?

Accepted Answer

A)  Develop strategies to overcome organizational weakness 
B)  Develop strategy to overcome organizational weakness in light of environmental threats 
C)  Develop strategy to leverage organizational strengths to maximize environmental opportunity 
D)  Develop strategy to leverage organizational strengths to maximize environmental threats 
A)  Develop strategies to overcome organizational weakness 
B)  Develop strategy to overcome organizational weakness in light of environmental threats 
C)  Develop strategy to leverage organizational strengths to maximize environmental opportunity 
D)  Develop strategy to leverage organizational strengths to maximize environmental threats

Question 14

IKEA's experiment with housing trends in Europe in the 1990s was the result of

Accepted Answer

A)  a well thought out global strategy. 
B)  its ability to identify a possible market opportunity. 
C)  its ability to identify a possible market opportunity and also its attempt to capitalize on its skills in developing kit-form products at reasonable prices for customers. 
D)  it did a detailed audit. 
A)  a well thought out global strategy. 
B)  its ability to identify a possible market opportunity. 
C)  its ability to identify a possible market opportunity and also its attempt to capitalize on its skills in developing kit-form products at reasonable prices for customers. 
D)  it did a detailed audit.

Question 15

Which of the following is NOT an example of primary activities in Porter's Value Chain analysis?

Accepted Answer

A)  Inbound logistics 
B)  Operation 
C)  Marketing and sales 
D)  Firm infrastructure 
A)  Inbound logistics 
B)  Operation 
C)  Marketing and sales 
D)  Firm infrastructure

Question 16

Which of the following is NOT one of the ways to define an industry?

Accepted Answer

A)  A group of firms producing similar products 
B)  A group of competitors producing products that compete with each other 
C)  A group of companies that satisfy varying needs of customers 
D)  A club of like-minded entrepreneurs 
A)  A group of firms producing similar products 
B)  A group of competitors producing products that compete with each other 
C)  A group of companies that satisfy varying needs of customers 
D)  A club of like-minded entrepreneurs

Question 17

What does SW stand for in SWOT?

Accepted Answer

A)  Strong, Weak 
B)  Straight, Weakness 
C)  Strengths, Weaknesses 
D)  None of the options given are correct. 
A)  Strong, Weak 
B)  Straight, Weakness 
C)  Strengths, Weaknesses 
D)  None of the options given are correct.

Question 18

What does the PIMS programme attempt to do?

Accepted Answer

A)  Analyse the profitability of organizations 
B)  Analyse how organizations react to environmental changes 
C)  Discover empirical principles that determine which strategy variables, and under which conditions, produce what results in terms of return on investment (ROI) and cash flow 
D)  Identify the highflyer organizations 
A)  Analyse the profitability of organizations 
B)  Analyse how organizations react to environmental changes 
C)  Discover empirical principles that determine which strategy variables, and under which conditions, produce what results in terms of return on investment (ROI) and cash flow 
D)  Identify the highflyer organizations

Question 19

Two areas of strategic marketing management process are: strategic analysis, strategic implementation. What is the third area?

Accepted Answer

A)  Strategic action 
B)  Strategic direction 
C)  Strategic choice 
D)  Strategic decision 
A)  Strategic action 
B)  Strategic direction 
C)  Strategic choice 
D)  Strategic decision

Question 20

Calof and Wright (2008) stated that the objective of any competitive intelligence system is

Accepted Answer

A)  to help organizations sustain and develop distinct competitive advantages by using the organization and its networks to develop actionable insights about the various components of the business environment. 
B)  to spy on other competitors in the market. 
C)  to collect data about consumers. 
D)  to collect some government statistics about the market. 
A)  to help organizations sustain and develop distinct competitive advantages by using the organization and its networks to develop actionable insights about the various components of the business environment. 
B)  to spy on other competitors in the market. 
C)  to collect data about consumers. 
D)  to collect some government statistics about the market.

A strategic group is

Which of the following is NOT a common reaction profile of competitors?

What is 'benchmarking'?

Using Porter's Value Chain analysis competitive advantage can arise from

What does the acronym in the PESTLE framework stand for?

What does the PESTLE framework help us to do?

What does the Porter's Value Chain Model help us to do?

Which of the following is NOT true of the Porter's five forces model?

What does PIMS stand for?

What is the difference between SWOT analysis and the TOWS matrix?

In the SO quadrant of the SWOT/TOWS matrix what should the company do?

What is NOT a critique of Porter's five forces?

In the WT quadrant of the SWOT matrix what should the company do?

IKEA's experiment with housing trends in Europe in the 1990s was the result of

Which of the following is NOT an example of primary activities in Porter's Value Chain analysis?

Which of the following is NOT one of the ways to define an industry?

What does SW stand for in SWOT?

What does the PIMS programme attempt to do?

Two areas of strategic marketing management process are: strategic analysis, strategic implementation. What is the third area?

Calof and Wright (2008) stated that the objective of any competitive intelligence system is

Strategic Marketing: Analysis, Perspectives, and Blueprint

Strategic Marketing Decisions, Choices, and Mistakes

Segmentation, Targeting, and Positioning Strategies

Branding Strategies

Relational and Sustainability Strategies

Product Innovation and Development Strategies

Service Marketing Strategies

Pricing and Distribution Strategies

Marketing Communications

Social and Ethical Strategies

Strategy Implementation and Control

Strategy and Metrics

Filters

Exam 2: Environmental and Internal Analysis: Market Information and Intelligence

A strategic group is

Which of the following is NOT a common reaction profile of competitors?

What is 'benchmarking'?

Using Porter's Value Chain analysis competitive advantage can arise from

What does the acronym in the PESTLE framework stand for?

What does the PESTLE framework help us to do?

What does the Porter's Value Chain Model help us to do?

Which of the following is NOT true of the Porter's five forces model?

What does PIMS stand for?

What is the difference between SWOT analysis and the TOWS matrix?

In the SO quadrant of the SWOT/TOWS matrix what should the company do?

What is NOT a critique of Porter's five forces?

In the WT quadrant of the SWOT matrix what should the company do?

IKEA's experiment with housing trends in Europe in the 1990s was the result of

Which of the following is NOT an example of primary activities in Porter's Value Chain analysis?

Which of the following is NOT one of the ways to define an industry?

What does SW stand for in SWOT?

What does the PIMS programme attempt to do?

Two areas of strategic marketing management process are: strategic analysis, strategic implementation. What is the third area?

Calof and Wright (2008) stated that the objective of any competitive intelligence system is

Strategic Marketing: Analysis, Perspectives, and Blueprint

Strategic Marketing Decisions, Choices, and Mistakes

Segmentation, Targeting, and Positioning Strategies

Branding Strategies

Relational and Sustainability Strategies

Product Innovation and Development Strategies

Service Marketing Strategies

Pricing and Distribution Strategies

Marketing Communications

Social and Ethical Strategies

Strategy Implementation and Control

Strategy and Metrics

Filters