STR 581 Capstone Final Exam Part Three | Studentehelp

STR 581 Capstone Final Examination, Part Three

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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 controlStrategic 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

ethicssustainability 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.