Question 1

_____ is the combination of the product,value chain,price,and promotion strategies a firm uses to place itself against its key competitors in meeting the needs and wants of the buyers in the market target.

Accepted Answer

A)   Positioning strategy
B)   Customer relationship management
C)   Customer linking
D)   Market targeting strategy A

Question 2

Which of the following activities is an example of promotion strategy?

Accepted Answer

A)   Distinctive capabilities
B)   Benchmarking
C)   Public relations
D)   Product positioning C

Question 3

_____ consist(s) of the benefits and costs resulting from the purchase and use of products as perceived by the buyer.

Accepted Answer

A)   Customer value
B)   Distinctive capabilities
C)   Spanning process
D)   Market sensing A

Question 4

With regard to a corporate strategy framework,_____ define(s) what the corporation is and what it does and provides important guidelines for managing and improving the corporation.

Accepted Answer

A)   resource allocation
B)   synergies
C)   objectives
D)   management's vision

Question 5

The purpose of _____ is to select the people (or organizations) that management wishes to serve in the product-market.

Accepted Answer

A)   strategic positioning
B)   benchmarking
C)   customer linking
D)   market targeting strategy

Question 6

Which of the following is the final component of the corporate strategy?

Accepted Answer

A)   Scope
B)   Synergy
C)   Corporate objective
D)   benchmarking

Question 7

_____ consist(s) of deciding the scope and purpose of the business,the objectives,and the resources necessary to achieve the objectives.

Accepted Answer

A)   Marketing strategy
B)   Corporate strategy
C)   Market sensing
D)   Channel bonding

Question 8

Pricing is an example of an outside-in process.

Accepted Answer

A) True 
 B)False

Question 9

The organizational process view of distinctive capabilities requires shifting away from the traditional specialization of business functions toward a cross-functional process perspective.

Accepted Answer

A) True 
 B)False

Question 10

Getting all business functions working together to provide superior customer value is referred to as _____.

Accepted Answer

A)   customer relationship management
B)   competitor intelligence
C)   cross-functional coordination
D)   centralization

Question 11

The underlying logic of market-driven strategy is that production needs are the starting point in business strategy.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following stages of marketing strategy process considers organizational design and marketing strategy implementation and control?

Accepted Answer

A)   Implementing and managing market-driven strategy
B)   Designing market-driven strategy
C)   Identifying and evaluating markets, segments, and customer value
D)   Market-driven program development

Question 13

Superior customer value results from a very favorable use experience of the customer compared to expectations of the customer and the value offerings of competitors.

Accepted Answer

A) True 
 B)False

Question 14

Synergies highlight competencies,resources,and capabilities that drive efficiency and effectiveness in the business.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following stages of marketing strategy process consists of brand,value-chain,pricing,and promotion and selling strategies designed and implemented to meet the value requirements of targeted buyers?

Accepted Answer

A)   Implementing and managing market-driven strategy
B)   Designing market-driven strategy
C)   Identifying and evaluating markets, segments, and customer value
D)   Market-driven program development

Question 16

_____ offer(s) a company the opportunity to focus its business on the requirements of one or more groups of buyers.

Accepted Answer

A)   Corporate resources
B)   Market segmentation
C)   Business composition
D)   Distinctive capabilities

Question 17

_____ seeks to place the brand in the eyes and mind of the buyer and distinguish the product from those in competition.

Accepted Answer

A)   Customer relationship strategy
B)   Positioning strategy
C)   Benchmarking
D)   Value-chain strategy

Question 18

Which of the following is the first step in a marketing strategy process?

Accepted Answer

A)   Market-driven program development
B)   Designing market-driven strategy
C)   Identifying and evaluating markets, segments, and customer value
D)   Implementing and managing market-driven strategy

Question 19

_____ are complex bundles of skills and accumulated knowledge,excised through organizational processes,that enables firms to coordinate activities and make use of their assets.

Accepted Answer

A)   Business clusters
B)   Competitor faculties
C)   Cross functions
D)   Distinctive capabilities

Question 20

The inside-out processes play a key role in offering direction for the spanning and outside-in capabilities,which respond to the customer needs and requirements identified by the inside-out processes.

Accepted Answer

A) True 
 B)False

Exam 1: New Challenges for Market Driven Strategy

_____ is the combination of the product,value chain,price,and promotion strategies a firm uses to place itself against its key competitors in meeting the needs and wants of the buyers in the market target.

Which of the following activities is an example of promotion strategy?

_____ consist(s) of the benefits and costs resulting from the purchase and use of products as perceived by the buyer.

With regard to a corporate strategy framework,_____ define(s) what the corporation is and what it does and provides important guidelines for managing and improving the corporation.

The purpose of _____ is to select the people (or organizations) that management wishes to serve in the product-market.

Which of the following is the final component of the corporate strategy?

_____ consist(s) of deciding the scope and purpose of the business,the objectives,and the resources necessary to achieve the objectives.

Pricing is an example of an outside-in process.

The organizational process view of distinctive capabilities requires shifting away from the traditional specialization of business functions toward a cross-functional process perspective.

Getting all business functions working together to provide superior customer value is referred to as _____.

The underlying logic of market-driven strategy is that production needs are the starting point in business strategy.

Which of the following stages of marketing strategy process considers organizational design and marketing strategy implementation and control?

Superior customer value results from a very favorable use experience of the customer compared to expectations of the customer and the value offerings of competitors.

Synergies highlight competencies,resources,and capabilities that drive efficiency and effectiveness in the business.

Which of the following stages of marketing strategy process consists of brand,value-chain,pricing,and promotion and selling strategies designed and implemented to meet the value requirements of targeted buyers?

_____ offer(s) a company the opportunity to focus its business on the requirements of one or more groups of buyers.

_____ seeks to place the brand in the eyes and mind of the buyer and distinguish the product from those in competition.

Which of the following is the first step in a marketing strategy process?

_____ are complex bundles of skills and accumulated knowledge,excised through organizational processes,that enables firms to coordinate activities and make use of their assets.

The inside-out processes play a key role in offering direction for the spanning and outside-in capabilities,which respond to the customer needs and requirements identified by the inside-out processes.