STR 581 Answers - STR 581 Capstone Final Examination, Part Three - UOP E Tutors

STR 581 Capstone
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STR 581 Capstone Final Examination, Part
Three (Lattest)
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1. 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?

Operational excellence
Low-cost leadership
Customer intimacy
Product leadership
2. 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.
technological improvement
feature improvement
style improvement
quality improvement
3. 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
________.
market estimation
brand association
market partitioning
market valuation
4. This is designed to check systematically and continuously whether the
premises on which the strategy is based are still valid
Special alert control
Strategic surveillance
Implementation control
Premise control

5. A firm must know where to position its product based on price and
promotional efforts
quality
communication
region
6. 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.
Competitive analysis
Business analysis
Customer analysis
Company analysis
7. 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?
Ultimate service benefit
Complete marketing benefit
Total customer benefit
Total management benefit
8. A valuable result of task environment analysis with respect to geographic,
demographic, psychographic and buyer-behavior factors is called
competitor profile
financial position
vendor profile
customer profile

9. The ability to meet humanity’s needs without harming future generations is
now a top priority in most corporate agenda
ethics
sustainability
rules
righteousness
10. Large-scale, future-oriented plans for interacting with the competitive
environment to achieve the company objective refers to its
strategy
dynamic policies
competitive analysis
goals
11. With ________ as a target market strategy, the firm concentrates on
serving many needs of a particular customer group.
single-segment concentration
product specialization
market specialization
selective specialization
12. 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.
Disaggregating

Benchmarking
Past performance comparison
Industry comparison
13. 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.
Political factor
Stakeholder factor
Economic factor
Social factor
14. Leaders galvanize commitment to embrace change through clarifying
strategic intent, building an organization, and
shaping organizational culture
developing a vision
developing a mission
planning strategy
15. How do functional tactics compare to business strategies?
Functional tactics are more focused on the general direction of the firm
than business strategies.
Functional tactics are more focused on a commitment to corporate
strategy than business strategies.
Functional tactics are more specific than business strategies.
Functional tactics are more long-term than business strategies.

16. Under which of the following conditions is the frequency the most
important factor in media selection?
When introducing flanker brands
When going into undefined target markets
When launching infrequently purchased brands
When there is high consumer resistance to the product
17. New-to-the-world products are ________.
new product enhancements that supplement established products
low-cost products designed to obtain an edge in highly competitive
markets
new products that create an entirely new market
existing products that are targeted to new geographical markets
18. 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 ________.
brand mission
brand vision
brand slogan
brand personality
19. Which component of a marketing audit includes major developments in
income, prices, savings, and credit that affect the company?
Economic
Political
Cultural
Technological

20. 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?
Explain the rules and regulations laid out by governmental agencies to
protect the environment.
Focus on the efforts and costs incurred by the company to bring these
"green" products to consumers.
Emphasize benefits to the consumer rather than environmental benefits.
Demonstrate that the products will benefit both customers and the
society in the long-term.
21. When diversification involves additions of a business related to the firm in
terms of technology, markets or products, it involves
vertical diversification
concentric diversification
horizontal integration
concentrated growth
22. 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.
Economic responsibility
Legal responsibility
Employee responsibility
Discretionary responsibility
23. Which control should periodically reassess its approach to the marketplace
with a good marketing audit?
Strategic control

Marketing control
Ethical control
Performance control
24. What type of strategy consists of geographical pricing, price discounts and
allowances, promotional pricing, and differentiated pricing?
Regular prices
Fixed pricing
Price adaptation
Altered pricing
25. 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
agency theory
the moral hazard problem
Adam’s theory
ethical responsibilities
26. Firms using this generic strategy attempt to build customer loyalty by
stressing a specific product attribute above other product qualities.
Cost leadership
Concentrated growth
Focus
Differentiation
27. 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.

switchers
hard-core loyals
shifting loyals
split loyals
28. 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.
Broadening
Differentiation
Diversification
Preferencing
29. 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.
Internal analysis
Value chain analysis
External analysis
SWOT analysis
30. 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?
Step 4 – analyzing the information
Step 5 – drafting the report
Step 1 – defining the problem
Step 2 – developing the research plan

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