Question 1

In the Boston Consulting Group (BCG)portfolio analysis, a product that serves a low-growth market but has a high market share in the industry is a:

Accepted Answer

A) star. 
B) dog. 
C) question mark. 
D) champion. 
E) cash cow.

Question 2

Explain target marketing and provide an example of it.

Accepted Answer

The answer of Explain target marketing and provide an example...

Question 3

Foodstar Corp., a chain of restaurants, has outlets in the major residential areas of a town.It ensures that its outlets are well placed and easily accessible.It also maintains a strong Internet presence by updating the details of each day's menu on its website.Given this information, which of the following strategies is used by Foodstar to achieve sustainable competitive advantage?

Accepted Answer

A) Locational excellence 
B) Operational excellence 
C) Product excellence 
D) Customer excellence 
E) Diversification excellence

Question 4

SleakTouch Inc., a manufacturer of mobile phones, conducts market research to understand the market situation.The research suggests that its customers are mostly young people between the ages of 30 and 40.The company decides to focus its resources on this market segment.Given this information, the company's decision is a part of:

Accepted Answer

A) locational excellence. 
B) operational excellence. 
C) diversification. 
D) downsizing. 
E) targeting.

Question 5

MM Manufacturing is a small-scale firm that manufactures optical cables.The firm's market share is significantly lower than most other players in the market.However, optical cable manufacturing is a high-growth market.Hence, the management of the company has decided to allocate more resources for the production of cables.According to the Boston Consulting Group (BCG)matrix, the company's offering is a:

Accepted Answer

A) star. 
B) dog. 
C) cash cow. 
D) question mark. 
E) champion.

Question 6

In the context of a SWOT analysis, which of the following is considered a company's weakness?

Accepted Answer

A) Changes in consumer behaviour 
B) Lack of financial resources 
C) Unfavourable political changes 
D) Natural disasters that affect the company 
E) Entry of new players into the industry

Question 7

Alchemistro Inc.is a firm that manufactures chemical detergents and associated products.The company decides to manufacture detergent products that cater to the needs of the high-income consumers.Which of the following best describes Alchemistro's decision to specifically cater to the high-income segment?

Accepted Answer

A) Locational excellence 
B) Downsizing 
C) Targeting 
D) Diversification 
E) Operational excellence

Question 8

Promotion is associated with value creation.

Accepted Answer

A) True 
 B)False

Question 9

In the context of the Boston Consulting Group (BCG)analysis, a firm whose product is a dog should:

Accepted Answer

A) invest significant resources to improve production. 
B) launch an intense media campaign to promote the product. 
C) phase out the product and concentrate on other strategic business units. 
D) start a new production facility for the product. 
E) use its extra resources to sustain the product.

Question 10

Roltech Limited is a telecom company that operates GSM networks in six countries.Roltech's top managers identify that the company's growth has been idle for a few years and decide to take these steps to promote growth: (1)Increase the spending on advertising and intensify promotional activities.(2)Open telecom companies in more countries.(3)Introduce special tariffs to attract more customers from existing markets.Which of the following strategies have Roltech's top managers decided to adopt?

Accepted Answer

A) Intensification and diversification 
B) Product development and diversification 
C) Market penetration and market development 
D) Product intensification and product development 
E) Segmentation and market diversification

Question 11

Surge Manufacturing Inc. is a firm that manufactures surgical equipment. The firm sells its products to various hospitals and health centres. The firm has adopted lean manufacturing techniques to minimize wastage in its production process. The company is known for the quality of its products and its efficient supply chain activities.
-Which of the following overarching strategies are evident from the available description of Surge Manufacturing?

Accepted Answer

A) Operational excellence and product excellence 
B) Locational excellence and customer excellence 
C) Customer excellence and positional excellence 
D) Locational excellence and positional excellence 
E) Positional excellence and customer excellence

Question 12

Product excellence occurs by having offerings with high perceived value and effective branding and positioning.

Accepted Answer

A) True 
 B)False

Question 13

Describe the four overarching strategies that focus on aspects of a marketing mix to create and deliver value and to develop sustainable competitive advantages.

Accepted Answer

The answer of Describe the four overarching strategies that focus...

Question 14

Which of the following statements is true of the market development strategy?

Accepted Answer

A) It requires the creation of a new product. 
B) It focuses on segments that are not currently served by a firm. 
C) It primarily focuses on developing innovative offerings. 
D) It requires products to be maintained at high prices. 
E) It employs rewards programs and improved store atmospherics.

Question 15

Which of the following is NOT correct about segmentation:

Accepted Answer

A) A market can consists of several segments. 
B) There are more than one way of segmenting a market 
C) Market segment is a group of consumers who respond the same to a firm's marketing efforts 
D) A company should understand and satisfy the needs of all the segments in the market. 
E) Segmentation is a process of dividing the market into distinct groups of customers.

Question 16

QuSoft Inc., a manufacturer of apparels, introduces bonus points for regular customers.With this offer, regular customers are entitled to faster delivery and exclusive discounts on the company's existing products.In this scenario, the strategy applied by the company is:

Accepted Answer

A) market diversification. 
B) product development. 
C) market development. 
D) market penetration. 
E) product diversification.

Question 17

Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?

Accepted Answer

A) Business branch 
B) Executive department 
C) Executive business segment 
D) Subsidiary firm 
E) Strategic business unit

Question 18

Which of the following is the best example of applying a market development strategy?

Accepted Answer

A) G&T Leather Inc.introduces its existing offering in a different market. 
B) Robert Technologies Inc.introduces a new product based on a modern technology. 
C) Apparo Retail Inc.announces a discount sale to increase its revenue. 
D) RSB Bank intensifies its advertising campaign to attract customers. 
E) Morko Chemicals Inc.invents a new vaccine and sells it around the globe.

Question 19

Customer excellence focuses on:

Accepted Answer

A) having a good physical location and Internet presence. 
B) carrying out effective branding and positioning. 
C) having products with high perceived value. 
D) retaining loyal buyers and providing excellent service. 
E) maintaining efficient operations and an excellent supply chain.

Question 20

Conduct a SWOT analysis of your university.

Accepted Answer

The answer of Conduct a SWOT analysis of your university....

Exam 2: Developing Marketing Strategies and a Marketing Plan

In the Boston Consulting Group (BCG) portfolio analysis, a product that serves a low-growth market but has a high market share in the industry is a: