Exam 9: Business Strategies: a Foundation for Marketing Program Decisions

One possible outcome of changes due to the evolution of the Internet is that it will be hard for firms to differentiate themselves on the basis of low price.

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(True/False)

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Question 1

Correct Answer:

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False

Reactors are businesses that concentrate only on maintaining their positions in established product-markets.

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(True/False)

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Question 2

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False

Which types of business strategies are most likely to be successful at each stage of the product life cycle,and why?

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(Essay)

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Question 3

Correct Answer:

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$\begin{array}{c}\begin{array}{lll}\text {Stage}\\\text {Introduction}\\\\\\\text {Growth}\\\\\\\\\\\\\\\text {Maturity}\\\\\\\end{array}\begin{array}{lll}\text {Strategy}\\\text {Prospector}\\\\\\\text {Prospector}\\\\\\\text {Analyzer}\\\\\\\\\text {Defender}\\\\\\\end{array}\begin{array}{lll}\text {Rationale}\\\text {This is a period of change and uncertainty, and }\\\text {the prospector is designed to adapt to changing }\\\text {conditions.}\\\text {Early in the growth phase, the prospector shoul }\\\text {continue to do best, because the nature of }\\\text {change favors experimentation.}\\\text {Later in the growth phase, the analyzer should }\\\text {do best, because the approaching shakeout will}\\\text { favor firms with a stable base and updated offerings}\\\text {Both defender types (differentiated and low}\\\text { cost) should do best in mature and declining }\\\text {environments because of their emphasis on }\\\text {domain preservation}\end{array}\end{array}$

The internet will make it easier for firms,both manufacturers and retailers,to customize their offerings and personalize their relationships with their customers.

(True/False)

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Question 4

Which of the following is the most essential strategic question to be asked by firms at the SBU level?

(Multiple Choice)

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Question 5

Conditions are most likely to be favorable for a differentiated defender business strategy during the _____ stage of the product life cycle.

(Multiple Choice)

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Question 6

Defender businesses tend to operate in relatively well-defined,narrow,and stable domains where both the product technology and the customer segments are mature.

(True/False)

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Question 7

In smaller single-business firms the distinction between business-level competitive strategy and marketing strategy tends to blur and the two strategies blend into one.

(True/False)

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Question 8

Prospector and to a lesser degree,analyzer businesses devote a relatively small proportion of resources to the development of new product-markets.

(True/False)

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Question 9

Most SBUs simultaneously pursue different competitive strategies across all product-markets in which they compete.

(True/False)

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Question 10

Service quality relative to competitors is always lower in the case of _____ strategy.

(Multiple Choice)

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Question 11

A defender strategy works best in industries where the basic technology is not very complex or where it is well developed and unlikely to change dramatically over the short term.

(True/False)

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Question 12

Which type of strategy is particularly well-suited to environments which are unstable and rapidly changing due to new technology and/or shifting customer needs?

(Multiple Choice)

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Question 13

All of the following are examples of the product policies of a marketing program EXCEPT:

(Multiple Choice)

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Question 14

A business unit's core competencies and resources,together with the customer and competitive characteristics of its industry,determine the viability of any particular competitive strategy.

(True/False)

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Question 15

There is little need for a prospector business to consider how it will compete in the new product-markets it develops because it will face little or no competition-at least not until those markets become established.

(True/False)

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Question 16

In an SBU the competitive strategies should be tailored to their unique resources and competencies and aimed at securing a sustainable advantage over existing or potential competitors.

(True/False)

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Question 17

According to the Miles and Snow typology,the analyzer strategic type:

(Multiple Choice)

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Question 18

Defender businesses are businesses which pay more attention to the development of new products.

(True/False)

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Question 19

According to the Miles and Snow typology,the defender strategic type:

(Multiple Choice)

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Question 20

One possible outcome of changes due to the evolution of the Internet is that it will be hard for firms to differentiate themselves on the basis of low price.

Reactors are businesses that concentrate only on maintaining their positions in established product-markets.

Which types of business strategies are most likely to be successful at each stage of the product life cycle,and why?

The internet will make it easier for firms,both manufacturers and retailers,to customize their offerings and personalize their relationships with their customers.

Which of the following is the most essential strategic question to be asked by firms at the SBU level?

Conditions are most likely to be favorable for a differentiated defender business strategy during the _____ stage of the product life cycle.

Defender businesses tend to operate in relatively well-defined,narrow,and stable domains where both the product technology and the customer segments are mature.

In smaller single-business firms the distinction between business-level competitive strategy and marketing strategy tends to blur and the two strategies blend into one.

Prospector and to a lesser degree,analyzer businesses devote a relatively small proportion of resources to the development of new product-markets.

Most SBUs simultaneously pursue different competitive strategies across all product-markets in which they compete.

Service quality relative to competitors is always lower in the case of _____ strategy.

A defender strategy works best in industries where the basic technology is not very complex or where it is well developed and unlikely to change dramatically over the short term.

Which type of strategy is particularly well-suited to environments which are unstable and rapidly changing due to new technology and/or shifting customer needs?

All of the following are examples of the product policies of a marketing program EXCEPT:

A business unit's core competencies and resources,together with the customer and competitive characteristics of its industry,determine the viability of any particular competitive strategy.

There is little need for a prospector business to consider how it will compete in the new product-markets it develops because it will face little or no competition-at least not until those markets become established.

In an SBU the competitive strategies should be tailored to their unique resources and competencies and aimed at securing a sustainable advantage over existing or potential competitors.

According to the Miles and Snow typology,the analyzer strategic type:

Defender businesses are businesses which pay more attention to the development of new products.

According to the Miles and Snow typology,the defender strategic type:

The Marketing Management Process

The Marketing Implications of Corporate and Business Strategies

Understanding Market Opportunities

Understanding Consumer Buying Behavior

Understanding Organizational Markets and Buying Behavior

Measuring Market Opportunities: Forecasting and Market Knowledge

Targeting Attractive Market Segments

Differentiation and Brand Positioning

Product Decisions

Pricing Decisions

Distribution Channel Decisions

Integrated Promotion Decisions

Marketing Strategies for a Digitally Networked World

Strategies for New and Growing Markets

Strategies for Mature and Declining Markets

Organizing and Planning for Effective Implementation

Measuring and Delivering Marketing Performance

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