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25 Cards in this Set
- Front
- Back
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________________ establish the type of results the firm intends to achieve and are qualitative and directional in nature. a. Tactical objectives b. Operational objectives c. Strategic objectives d. Functional objectives |
c. Strategic objectives |
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_________________ should specify how much growth, market share, profit, and/or cash flow the firm should earn during a specific time frame. a. Functional objectives b. Strategic objectives c. Tactical objectives d. Operational objectives |
d. Operational objectives |
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___________________ is a net benefit or cluster of benefits, offered to a sizable group of customers, which they value and are willing to pay for, but cannot get, or believe they cannot get, elsewhere. a. Cross-functional coordination b. Market share c. Market potential d. Differential advantage |
d. Differential advantage |
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A well-designed ______________ provides a convincing answer to a deceptively simple question: “Why should target customers prefer the firm’s offer to those of competitors?” a. cross-sell strategy b. operational focus c. strategic focus d. value proposition |
d. value proposition |
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According to the text, _______________ is sometimes called the heart of the product/market strategy a. segmentation b. positioning c. cost reduction d. downsizing |
b. positioning |
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All of the following are methods used to improve margins and investment returns EXCEPT: a. Improve the sales mix. b. Increase operating costs. c. Raise prices. d. Improve asset utilization. |
b. Increase operating costs. |
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All of the following represent basic dimensions that are important when choosing customer targets EXCEPT: a. Choice of geographic location of headquarters b. Targeting specific person type/roles c. Targeting levels within the distribution system d. Choosing the distribution system |
a. Choice of geographic location of headquarters |
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Examples of a person who will benefit in a personal way from a purchase decision but does not personally carry the cost include all of the following EXCEPT: a. Accountants, financial advisors, and lawyers for customers with investable funds b. Children as a means of influencing parental decisions c. Architects, interior designers, product designers d. Ultimate consumers and users of a company’s product or service |
d. Ultimate consumers and users of a company’s product or service |
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For which of the following strategies does the firm place most marketing effort upstream on direct customers like manufacturers and distributors? a. Virtual strategy b. Cross-sell strategy c. Pull strategy d. Push strategy |
d. Push strategy |
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In the ______________ and ______________ stages of the product life cycle, firms often set priorities on growth and/or market share. a. maturity and decline b. introduction and early growth c. early growth and decline d. introduction and decline |
b. introduction and early growth |
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In which of the following stages of the product life cycle do high-market-share leaders typically focus on retaining existing customers and increasing their purchases? a. Late maturity stage b. Introduction stage c. Pre-introduction stage d. Early growth stage |
a. Late maturity stage |
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In which of the following stages of the product life cycle do low-market-share leaders typically focus on attracting competitors’ customers? a. Early growth stage b. Maturity stage c. Introduction stage d. Pre-introduction stage |
b. Maturity stage |
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Positioning requires the firm to make all of the following key decisions EXCEPT: a. Design the value proposition. b. Determine the firm’s asset utilization. c. Frame competitor targets. d. Select customer targets. |
b. Determine the firm’s asset utilization. |
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Positioning statements should meet all of the following criteria EXCEPT: a. Be sustainable. b. Be common. c. Be compelling. d. Be authentic. |
b. Be common |
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The purpose of _______________ is to create a unique and favorable image for the firm’s products in the customer’s mind. a. downsizing b. cost reduction c. positioning d. segmentation |
c. positioning |
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The two components of performance objectives include ______________ and ______________. a. implementation programs and operational objectives b. operational objectives and tactical focus c. strategic objectives and operational objectives d. positioning and strategic focus |
c. strategic objectives and operational objectives |
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Using the ______________, a firm places most marketing effort downstream on indirect customers which are consumers and end users. a. pull strategy b. virtual strategy c. push strategy d. cross-sell strategy |
a. pull strategy |
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When a firm allocates resources _____________, it allocates resources among target market segments. a. virtually b. transparently c. internally d. externally |
d. externally |
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When a firm targets multiple segments, it faces all of the possible situations in implementation EXCEPT: a. Negative synergies b. Positive synergies c. Independence d. The firm faces all of the situations during implementation. |
d. The firm faces all of the situations during implementation. |
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Which of the following is NOT a method used to increase unit sales volume resulting in improved profits? a. Attract customers from competitors. b. Decrease customer retention c. Increase customer use. d. Secure new business. |
b. Decrease customer retention |
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Which of the following is NOT mentioned in the text as a tactics used to increase usage of a product by customers? a. Provide price incentives to purchase larger quantities. b. Increase the rate of product obsolescence. c. Find new uses for the product. d. Reduce the unit of purchase. |
d. Reduce the unit of purchase. |
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Which of the following is NOT one of the four pillars of a market-segment strategy? a. Implementation programs b. Performance objectives c. Tactical focus d. Positioning |
c. Tactical focus |
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Which of the following options for improving margins and investment returns is the most straightforward? a. Reduce operating costs. b. Improve asset utilization. c. Increase prices. d. Improve the sales mix. |
c. Increase prices. |
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Which of the following strategic alternatives does NOT relate directly to increasing profit margins? a. Improving asset utilization b. Reducing operating cost c. Raising price d. Improving sales mix |
a. Improving asset utilization |
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While ______________ are qualitative and directional, establishing the general direction the firm wants to take, _______________ are quantitative and time bound. a. strategic objectives; operational objectives b. operational objectives; tactical objectives c. tactical objectives; operational objectives d. operational objectives; strategic objectives |
a. strategic objectives; operational objectives |
