Analyzing substitute products with similar attributes that customers consider during the
buying decision is a method of defining a market using a ________.
B) demand-side perspective
What is the lowest level of competition?
A) product variant
A
PEST analysis is most useful when a marketer needs to ________.
C) categorize a business environment
Extensive customization of a product offered in different international markets would
most likely defeat which of the following benefits of global trade?
D) lower production costs
The
________ environment consists of factors that affect consumer purchase ability
and buying behavior.
B) Economic
Which type of company would most likely experience countercyclical sales?
A) auto parts retailer
Curve fitting methods are most likely popular with managers and forecasters because
such methods ________.
C) require few data points
________
identifies the relationships between variables that predict or cause some
target variable.
A) Regression analysis
Futuring
relies on the idea that the future is ________.
A)uncertain
B)predictable
C)quantitative
D)similar to the past
Uncertain
Whatis the first step to finding new markets?
A)mining market data
B)evaluating cultural fads
C)creating a marketing mix
D)identifying customer insights
identifying customer insights
Which
term refers to the series of activities involved in extracting value from a
product or service?
A)situation assessment
B)trend extrapolation
C)customer value chain
D)cross-impact matrix
Customer value chain
What
two parties interact in the total immersion method?
C) customers and executives
Moen
used the ________ research method when the firm interviewed participants about
their shower experiences and observed participants taking showers.
In the hierarchy of effects model, ________ is the first stage of the process..
A) need recognition
B) evaluation
C) interest
D) unaware
unaware
Knowing where customers are in the decision-making process most likely helps marketers to ________.
B)
An attitude is best defined as a(n) ________.
B) lasting evaluation of a person, object, or issue
The FCB Matrix organizes products by ________ and ________.
D) relative performance; post-purchase attitude
B) involvement level; purchase motivation
eams
of people in an organization who participate in purchase decisions are known as
________.
B) buy centers
When conducting a competitor analysis, a marketer should first investigate the
competitor's ________.
D) long-term objectives
When analyzing the strengths and weaknesses of a competitor, a marketer should first
________.
A) identify similarities with the competitor's
product
B)determine the success factors in a market
C)predict the competitor's next actions
D)review fluctuations in the market
B)determine the success factors in a market
By analyzing a competitor's ________, a marketer would most likely be able to
assess the risk and cash flow of the competitor.
A)
Which
of the following questions would be LEAST relevant to a marketer creating a
strategy profile of a competitor?
C)
Which
area of a competitor analysis involves making assessments rather than
predictions about the competition?
A) marketing tactics
The
three levels of strategies are ________.
D) business unit, corporate-level, and functional
The ________ of Nike is "to experience
the emotion of competition, winning, and crushing competitors."
D) Core purpose
A
firm's core purpose statement is typically directed at ________, while a firm's
core values are typically directed at ________.
D) all stakeholders; internal stakeholders
Including
visionary goals and vivid descriptions in vision and mission statements most
likely serves the purpose of ________.
B) stimulating organizational progress
Which
of the following questions would be most useful for the evaluation of a
corporate-level strategy?
C) Is the portfolio of business units balanced in terms of cash flow and risk?
The
primary purpose for conducting a value chain analysis is to ________.
B) generate a profit margin
Which of the following is NOT a primary activity of typical value chains?
D) human resources
Which
of the following is used to depict the importance of individual value chain
activities on a two-dimensional matrix?
D) strategic priority analysis
Which of the following would most likely characterize a highly competitive industry?
A) high fixed costs
________ is a market entry barrier that exists when a service becomes more valuable as more people use it.
B) Network effects
In an industry characterized by ________, customers have significant bargaining
power.
D) undifferentiated products
In
the automobile parts industry, products are undifferentiated, so the industry
is most likely characterized by ________.
A) low switching costs
Which
of the following would most likely increase competition during the maturity
stage of the product life cycle?
A) excess capacity
During
the development and introduction stages of the product life cycle, consumers
are primarily interested in the ________ of a product.
A) performance
Which
of the following is LEAST likely to occur during commoditization?
D) Customer loyalty and brand preferences increase.
In which stage of the product life cycle would
a firm most likely use price promotions and reminder advertising to encourage
customers to replace worn-out items?
A)growth
B)decline
C)maturity
D)introduction
C)maturity
According
to the law of experience, unit costs decline by ________ each time cumulative
output ________.
C) a fixed percent; doubles
An
experience curve is primarily dependent on the ________.
C) industry
Diseconomies of scale would most likely occur
for all of the following reasons EXCEPT ________.
D) technology too specialized
Ford
and Toyota are most likely able to achieve economies of scale by ________.
A) serving global market segments
Which
of the following would most likely provide information about the relationships
between a firm's activities, strategies, and results?
C) PIMS data
According
to PIMS data, a strong correlation exists between ________ and ________.
D) profitability; market share
Research
indicates that an increase of ________ percentage point(s) in market share
correlates to an increase of ________ percentage point(s) in profitability.
A) 3; 1
Including
market share as an objective in a business strategy is appropriate in all of
the following cases EXCEPT when ________.
