Question 1

The four Ps in marketing are

Accepted Answer

A)  product, price, promotion, and place. 
B)  production, placement, personnel, and place. 
C)  promotion, price, positioning, and perception. 
D)  perception, perspective, promotion, and price. 
E)  None of the answer choices is correct.

Question 2

The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

Accepted Answer

A)  prospector 
B)  defender 
C)  analyzer 
D)  reactor

Question 3

One of the two strategic decisions most associated with the organization's information system is

Accepted Answer

A)  optimum equity mix. 
B)  creating an approved vendor list. 
C)  selecting the correct marketing mix. 
D)  corporate budgeting. 
E)  the choice of system technology.

Question 4

The SWOT analysis points to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high performance levels.

Accepted Answer

A) True 
 B)False

Question 5

Competitive strategy is a choice of how an organization or business unit is going to compete in its particular industry or market.

Accepted Answer

A) True 
 B)False

Question 6

The ________ point(s)to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.

Accepted Answer

A)  portfolio analysis 
B)  distinctive capabilities 
C)  strengths 
D)  SWOT analysis 
E)  core competencies

Question 7

The differentiator will market products aimed at the "average" customer.

Accepted Answer

A) True 
 B)False

Question 8

Effectively managing customers and competitors is customer satisfaction.

Accepted Answer

A) True 
 B)False

Question 9

An organization's functional strategies are the goal-directed plans and actions of the organization's functional areas.

Accepted Answer

A) True 
 B)False

Question 10

Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?

Accepted Answer

A)  Marketing 
B)  Human resources 
C)  Information 
D)  Financial-accounting 
E)  None of the answer choices is correct.

Question 11

In Mintzberg's typology, ________ is a way to differentiate.

Accepted Answer

A)  price 
B)  adaptability 
C)  focus 
D)  niche

Question 12

The prospector will market products aimed at the "average" customer.

Accepted Answer

A) True 
 B)False

Question 13

When an organization hasn't developed a low cost or a differentiation competitive advantage, it is said to be

Accepted Answer

A)  stuck-in-the-middle. 
B)  using an integrated strategy. 
C)  using a strategy of best cost. 
D)  pursuing a niche-based competitive advantage.

Question 14

The role of top-level decision makers in the strategic management process is to

Accepted Answer

A)  develop the overall goal that the organization hopes to achieve. 
B)  establish the overall operational goals. 
C)  establish functional strategies. 
D)  supervise line managers. 
E)  None of the answer choices is correct.

Question 15

Which are the two biggest factors in marketing?

Accepted Answer

A)  Competitors and pricing 
B)  Product and competitors 
C)  Customers and competitors 
D)  Pricing and customers 
E)  Layout and distribution

Question 16

Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?

Accepted Answer

The answer of Describe briefly Porter's notion of being "stuck-in-the-middle."...

Question 17

The two main support processes in an organization are

Accepted Answer

A)  production systems and marketing systems. 
B)  procurement systems and HR systems. 
C)  financial accounting systems and HR systems. 
D)  information systems and HR systems. 
E)  information systems and financial accounting systems.

Question 18

Which of the following is not a recommended competitive strategy for developing a competitive advantage?

Accepted Answer

A)  Reactor 
B)  Defender 
C)  Analyzer 
D)  Prospector

Question 19

The reactor strategy is characterized by continually innovating and exploiting new products and markets.

Accepted Answer

A) True 
 B)False

Question 20

In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.

Accepted Answer

A)  costs 
B)  prices 
C)  profits 
D)  products

Exam 5: Functional and Competitive Strategies

The four Ps in marketing are

The ________ strategy is one in which an organization continually innovates by finding and exploiting new product and market opportunities.

One of the two strategic decisions most associated with the organization's information system is

The SWOT analysis points to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high performance levels.

Competitive strategy is a choice of how an organization or business unit is going to compete in its particular industry or market.

The ________ point(s) to the strategic issues organizational decision makers need to address in their pursuit of sustainable competitive advantage and high levels of performance.

The differentiator will market products aimed at the "average" customer.

Effectively managing customers and competitors is customer satisfaction.

An organization's functional strategies are the goal-directed plans and actions of the organization's functional areas.

Designing which of the following systems involves making sure we have the information we need, when the information is needed, and in the form needed?

In Mintzberg's typology, ________ is a way to differentiate.

The prospector will market products aimed at the "average" customer.

When an organization hasn't developed a low cost or a differentiation competitive advantage, it is said to be

The role of top-level decision makers in the strategic management process is to

Which are the two biggest factors in marketing?

Describe briefly Porter's notion of being "stuck-in-the-middle." Is it always true?

The two main support processes in an organization are

Which of the following is not a recommended competitive strategy for developing a competitive advantage?

The reactor strategy is characterized by continually innovating and exploiting new products and markets.

In Porter's cost leadership strategy, the main goal of the cost leader is to have the lowest ________ in the industry.