STR 581 Capstone Part 3

STR 581 Capstone Part 3
1. A firm must know where to position its product based on price and
2. What type of strategy consists of geographical pricing, price discounts
and allowances, promotional pricing, and differentiated pricing?
3. The marketing manager needs to know the cost of the research project
before approving it. During which stage of the marketing research process would
such a consideration most likely take place?
4. A valuable result of task environment analysis with respect to
geographic, demographic, psychographic and buyer-behavior factors is called
5. New-to-the-world products are ________.
6. These social responsibilities are those that are voluntarily assumed by a
business or organization. They include public relations activities, good citizenship,
and full corporate social responsibility.
7. When diversification involves additions of a business related to the firm
in terms of technology, markets or products, it involves
8. Which component of a marketing audit includes major developments in
income, prices, savings, and credit that affect the company?
9. The ability to meet humanity’s needs without harming future generations
is now a top priority in most corporate agenda
10. BMW’s “The ultimate driving machine,” American Express’ “Don’t leave
home without it,” New York Times’ “All the news that’s fit to print,” and
AT&T’s “Reach out and touch someone” are all examples of ________.
11. A company can learn a great deal by analyzing the degrees of brand
loyalty. For example, ________ can show the firm which brands are most
competitive with its own.
12. The strategic factor that involves the beliefs, values, attitudes,
opinions, and lifestyles of persons in the firm’s external environment, as
developed from cultural, ecological, demographic, religious, educational, and
ethnic conditioning.
13. A set of ideas on organizational control based on the belief that the
separation of the ownership from management creates the potential for the
wishes of owners to be ignored refers to
14. This is designed to check systematically and continuously whether the
premises on which the strategy is based are still valid
15. When performing this analysis, it is good for strategic planners to
consider similarities between the benefits the customers derive from the products
and services that other firms offer.
16. This is a historically popular technique through which managers create a
quick overview of a company’s strategic situation—it is based on achieving a
sound fit between internal resources and the external situation.
17. A company that attempts to lead its industry in price and convenience by
pursuing a focus on lean and efficient operations is pursuing what strategy?
18. Leaders galvanize commitment to embrace change through clarifying
strategic intent, building an organization, and
19. Prestige LLC, a small company that manufactures specialty cereals and
energy bars, wants to launch a “green marketing” program in response to
heightened consumer awareness about environmental issues. What should the
company do to maximize the program’s chances of being successful?
20. This is an important structural decision and resultant separate
activities need to be coordinated and integrated back together as a whole so
the business functions effectively.
21. Company X’s principal strength is its inbound and outbound logistics
system; its relative weakness, however, is after-sales service. Its competitor,
Company Y, however is often plagued with lagging shipments and an inflexible
distribution setup. Company Y remains successful because it maintains a fully
staffed service department and, as a result, the company is known for its
dependable service. This type of analysis allows them to identify ways to build
on relative strengths and avoid dependence on capabilities at which the other
firm excels.
22. With ________ as a target market strategy, the firm concentrates on
serving many needs of a particular customer group.
23. How do functional tactics compare to business strategies?
24. Under which of the following conditions is the frequency the most
important factor in media selection?
25. What is the perceived monetary value of the bundle of economic,
functional, and psychological benefits customers expect from a given market
offering because of the product, service, people, and image?
26. Which control should periodically reassess its approach to the
marketplace with a good marketing audit?
27. One of the ways to change the course of a brand is to modify the
product. Under product modification, ________ adds size, weight, materials, supplements,
and accessories that expand the product’s performance, versatility, safety, or
convenience.
28. Firms using this generic strategy attempt to build customer loyalty by
stressing a specific product attribute above other product qualities.
29. Large-scale, future-oriented plans for interacting with the competitive
environment to achieve the company objective refers to its
30. Marketers need to identify the hierarchy of attributes that guide
consumer decision making in order to understand different competitive forces
and how these various sets get formed. This process of identifying the
hierarchy is called ________