Question 1

As a tool of Blue Ocean Strategy, the strategy canvas provides a way to visualize the firm's strategy relative to other firms in the industry. The central portion of the strategy canvas is the _____, or the graphic representation of the firm's relative performance across its industry's factors.

Accepted Answer

A)  value curve 
B)  strategy line 
C)  strategic focus 
D)  divergence curve 
E)  action diagram

Question 2

In the marketing strategy for Amazon, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:

Accepted Answer

A)  quantitative goal 
B)  continuous objective 
C)  procedural objective 
D)  qualitative objective 
E)  discontinuous objective

Question 3

Why is it important that marketing goals involve some degree of intangibility?

Accepted Answer

A)  It makes it more difficult for competitors to determine the firm's marketing strategy. 
B)  It makes goals more consistent with the objectives that follow. 
C)  It makes goals easier to achieve. 
D)  It promotes learning by forcing employees to ask questions about the strategy. 
E)  It makes the goal more motivational and promotes continuous improvement

Question 4

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?

Accepted Answer

A)  Which factors should be reduced well below the industry's standard? 
B)  Which factors should be raised well above the industry's standard? 
C)  Which factors should be created that the industry has never offered? 
D)  Which factors that the industry takes for granted should be eliminated? 
E)  Which factors used throughout the industry should be copied?

Exam 5: Developing Competitive Advantage and Strategic Focus

As a tool of Blue Ocean Strategy, the strategy canvas provides a way to visualize the firm's strategy relative to other firms in the industry. The central portion of the strategy canvas is the _____, or the graphic representation of the firm's relative performance across its industry's factors.

In the marketing strategy for Amazon, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:

Why is it important that marketing goals involve some degree of intangibility?

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?