STR 581 Week 6 Capstone Final Examination, Part Three (Newest) - Assignment

STR 581 Week 6 Capstone Final 

Examination, Part Three (Newest) 

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1. A(n) ________ market share of exactly 100 percent means that a company is tied for 

the market lead. A rise in relative market share means the company is gaining on its 

leading competitor. 

•potential 

•relative 

•served 

•Overall 

2. The typical risks of a cost leadership strategy include___________. 

•loss of customer loyalty 

•excessive differentiation to the point where the customer base is too small 

•the inability to balance high differentiation and low price 

•production and distribution processes becoming obsolete 

3. The likelihood of entry of new competitors is affected by and ___________. 

•the power of existing suppliers; buyers 

•the profitability of the industry; the market share of its leading firm 

•barriers to entry; expected retaliation of current industry organizations 

•the demand for the product; the profitability of the competitors 

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4. In general, compared with firms which compete in only one market, among firms which 

face one another in multiple markets there is__________. 

•similar competitive rivalry 

•more competitive rivalry 

•less competitive rivalry 

•no competitive rivalry 

5. The three parts of the external environment which affect a firm's strategic actions 

are__________. 

•economic, political, and legal 

•industry, business, and product 

•local, national, and global 

•general, industry, and competitor 

6. The proper matching of what a firm can do with what a firm might do__________. 

•balances the internal characteristics of the firm with the characteristics of the external 

environment 

•overcomes the rigidity and inertia resulting from a history of success 

•develops core competencies based on human knowledge 

•yields insights the firm requires to select its strategy 

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7. Gordon Jones is considering purchasing a computer from Best Buy. He has created a 

scale for rating eight different computers on three different characteristics. He plans to 

make a short list of only those computers that score at least a 7 on his scale on all three 

characteristics. Which of the following choice heuristics has he chosen? 

•anchoring and adjustment heuristic 

•elimination-by-aspects heuristic 

•conjunctive heuristic 

•lexicographic heuristic 

8. The term "conglomerates" refers to firms using the diversification strategy. 

•related constrained 

•related linked 

•global 

•Unrelated 

9. The goal of the organization's ________ is to point the firm in the direction of where it 

would like to be in the years to come. 

•strategy 

•mission 

•culture 

•vision 

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10. A company that seeks to increase its sales and profits through backward, forward, or horizontal 

integration within the industry is said to be employing a(n) ________ growth strategy. 

•target 

•diversification 

•intensive 

•Integrative 

11. Annual-plan control requires making sure the company isn't overspending to achieve sales goals. 

The key ratio to watch is ___________. 

•stock turnover 

•marketing expense-to-sales 

•cash flow return on investment 

•gross margin 

12. The recent joint ventures formed by BP with Russian and Indian partners showed the importance 

of the ________ segment of the general environment that BP and other integrated oil firms have to 

manage when contending with scarce resources. 

•physical 

•demographic 

•global 

•political/legal 

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13. Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because 

the perfume is from a well-known brand. What kind of pricing is the company depending on? 

•image pricing 

•market-skimming pricing 

•target pricing 

•going-rate pricing 

14. Hilton Hotels customizes rooms and lobbies according to location. Northeastern hotels are sleeker 

and more cosmopolitan. Southwestern hotels are more rustic. This is an example of ________ 

segmentation. 

•psychographic 

•geographic 

•demographic 

•behavioral 

15. A group of college graduates decides to start a business. Though they are knowledgeable in 

various business domains, they are unable to arrive at a valuable business idea. They decide to 

search for ideas in a structured manner. They meet and start discussing everyone's ideas. Each idea is 

recorded and then the thoughts that come up in relation to the ideas are written down and 

discussed. This process helps them to finalize a business plan. What technique is used here? 

•mind mapping 

•attribute listing 

•forced relationship analysis 

•reverse assumption analysis 

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16. The Enron employee who reported the financial manipulations at the company to her superiors 

can be considered to have engaged in__________. 

•managerial opportunism 

•an act of courage 

•vindictive disloyalty 

•white-collar crime 

17. The differentiation strategy can be effective in controlling the power of rivalry with existing 

competitors in an industry because__________. 

•customers are loyal to brands that are differentiated in meaningful ways 

•customers will seek out the lowest-cost product 

•the differentiation strategy benefits from rivalry because it forces the firm to innovate 

•customers of non differentiated products are sensitive to price increases 

18. A well-known car manufacturing company introduces a new hatchback model by describing its 

distinctive features and then stressing the speed and safety qualities of the car. Which of the 

following is the company using to convey its membership in the hatchback segment? 

•relying on the product descriptor 

•using channel differentiation 

•announcing category benefits 

•comparing to exemplars 

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19. AT&T's business campaign not only helped to change public perceptions of the company, it also 

signaled to employees that AT&T was determined to be a leader in telecommunication services. 

Which principle of internal branding does this example portray? 

•bringing the brand alive for employees 

•linking internal and external marketing 

•choosing the right moment to capture employees' attention and imagination 

•furnishing energizing and informative internal communication 

20. The strategic management process is__________. 

•the full set of commitments, decisions, and actions required for the firm to achieve aboveaverage 

returns and strategic competitiveness 

•a decision-making activity concerned with a firm's internal resources, capabilities, and 

competencies, independent of the conditions in its external environment 

•a process directed by top-management with input from other stakeholders that seeks to 

achieve aboveaverage returns for investors through effective use of the organization's resources 

•a set of activities that will assure a sustainable competitive advantage and above-average 

returns for the firm 

21. The first step in the social marketing planning process is ________. 

•designing the market offering 

•determining the focus of the program 

•setting objectives and goals 

•selecting the target audience 

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22. Moving into international markets is a particularly attractive strategy to firms whose domestic 

markets__________. 

•have too much regulation 

•demand a differentiation strategy for success 

•are limited in opportunities for growth 

•have developed unfriendly business attitudes toward the industry 

23. Aisha is a marketing manager with Injoos, a company that manufactures packaged fruit juices. 

Knowing that several other companies exist in the market that offer similar products, Aisha decides to 

build a customer base from among those who prefer to avoid mass media and other targeted 

promotions. Which of the following marketing communications tools would be her best option to 

build a favorable impression among the prospective customers? 

•direct marketing 

•sales promotions 

•personal selling 

•public relations 

24. Viewing the world through the customer's eyes and constantly seeking ways to create more value 

for the company enhances__________. 

•affiliation with the customer 

•the richness of the relationship with the customer 

•the ability to identify the customer 

•the reach of the company toward the customer 

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25. Backward integration occurs when a company_________. 

•produces its own inputs 

•is divesting unrelated businesses 

•is concentrated in a single industry 

•owns its own source of distribution of outputs 

26. Successful implementation of the differentiation strategy requires a structure 

that___________. 

•focuses on the finance function 

•is dominated by the operations function 

•has specialized jobs. 

•decentralizes decision making 

27. Which of the following can a company do to reduce defection 

•Distinguish the causes of customer attrition and identify those that can be managed 

better. 

•Increase customer lifetime value by increasing the non-monetary costs of products. 

•Enhance the growth potential of existing customers through cross-selling and 

upselling. 

•Attract new customers to try out the company's products. 

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28. Southwest Airlines offers a Rapid Rewards program that allows customers to count flights they 

have taken toward free future flights. This is an example of a(n) ________. 

•club membership program 

•cross-selling program 

•activity-based costing program 

•value delivery system 

29. Organizational structure__________. 

•specifies the firm's formal reporting relationships, procedures, controls, and authority and 

decision-making processes 

•specifies the firm's formal value proposition, the markets it will serve, and how the firm will 

provide value in those markets 

•specifies the firm's control mechanisms, grievance procedures, reporting relationships, 

procedures, and authority over decision-making processes 

•specifies the firm's informal reporting relationships, procedures, controls, and authority and 

decision-making processes 

30. ________ is a form of online word of mouth, or "word of mouse," that encourages consumers to 

pass along company-developed products and services or audio, video or written information to 

others online. 

•Viral marketing 

•Microsite marketing 

•Interstitial marketing 

•Guerrilla marketing 


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STR 581 Week 2 Capstone Final Examination, Part One 

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STR 581 Week 6 Capstone Final Examination, Part Three 

STR 581 Week 6 Capstone Final Examination, Part Three (Newest) 

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