Top 10 Questions : Chapter 2 : Ansay

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Top 10 Questions

(Chapter #2)

Catherine AnsayDecember 15, 2011

Chapter 2 Marketing Management, Kotler 14th ed

1. _________ specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels and service.

a) Tactical marketing planb) Corporate planc) Business pland) Product plane) Strategic plan

1. Tactical Marketing Plan

• Teams develop marketing plan with inputs and sign-offs from every important function

• Management implements these plans at the appropriate levels of the organization, monitors results and takes necessary correction action

• Planning at each of these four levels of the organization

1. _________ specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels and service.

a) Tactical marketing planb) Corporate planc) Business pland) Product plane) Strategic plan

2. The shared experiences, stories, beliefs and norms that characterize an organization.

a) Business Missionb) Vision, Mission and Valuesc) Corporate cultured) Organizational environmente) Corporate environment

2. Corporate Culture

Standards that govern the operation of the business

Corporate Culture

2. Corporate Culture

• Corporate culture defined as the shared experience, stories, beliefs and norms that characterize an organization.

• A customer-centric culture can affect all aspects of an organization.

2. The shared experiences, stories, beliefs and norms that characterize an organization.

a) Business Missionb) Vision, Mission and Valuesc) Corporate cultured) Organizational environmente) Corporate environment

3. A dimension of business innovation that talks about redesigning customer interactions across all touch points and all moments of contact.

a) Supply Chainb) Networkingc) Value Captured) Customerse) Customer Experience

3. 12 Dimensions of Business Innovations

3. Customer Experience

• Customer experience – considers everything a customer sees, hears, feels and experiences while interacting with a company at all moments

3. A dimension of business innovation that talks about redesigning customer interactions across all touch points and all moments of contact.

a) Supply Chainb) Networkingc) Value Captured) Customerse) Customer Experience

4. This business innovation dimension uses common components or building blocks to create derivative offerings.

a) Processesb) Offeringsc) Platformd) Presencee) Solutions

• Platform – set of common components, assembly methods or technologies that serve as building blocks for a portfolio of products or services

4. This business innovation dimension uses common components or building blocks to create derivative offerings.

a) Processesb) Offeringsc) Platformd) Presencee) Solutions

5. _______ is an area of buyer need and interest that a company has a high probability of profitability satisfying.

a) Offeringsb) Brandc) Success Probabilityd) Marketing Opportunitye) Opportunity Matrix

5. Market Opportunity

• Newly identified need, want or demand that a firm can exploit because it is not being addressed by the competitors

• There are several sources of Market Opportunities: – Supply something that is in short supply.– Supply an existing product in a new or superior

5. _______ is an area of buyer need and interest that a company has a high probability of profitability satisfying.

a) Offeringsb) Brandc) Success Probabilityd) Marketing Opportunitye) Opportunity Matrix

6. A challenge posed by an unfavorable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit.

a) Probability of Occurrenceb) Weaknessc) Seriousnessd) Weakness & Threate) Environmental Threat

6. Threat Matrix

1. Competitor develops superior lighting system.

2. Major prolonged economic depression.

3. Higher costs.4. Legislation to

reduce number of TV studio licenses

Profitability of Occurrence High Low

6. Environmental Threat

Any factor in the market, external to the marketing organization, that has the potential to negatively impact demand for the marketer's product or service.

Example: » Entrance of new competitor» Merger of two competitors» Introduction of a new brand» Development of technology» Legislative changes» Social and economic trends

Read more:http://www.answers.com/topic/environmental-threat#ixzz3qH3gQ9Wk

6. A challenge posed by an unfavorable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit.

a) Probability of Occurrenceb) Weaknessc) Seriousnessd) Weakness & Threate) Environmental Threat

7. The goal of this strategy is to achieve the lowest production and distribution costs so price can be lowered than the competitors and win a large market share.

a) Overall cost leadershipb) Product or service alliancesc) Differentiationd) Focuse) Pricing collaboration

7. Overall Cost Leadership

Offer relatively standardized products with features or characteristics that are acceptable to customers– minimum level of

differentiation– lowest competitive

7. Porters Generic Strategies

• Overall Cost Leadership – Firms pursuing this strategy work hard to achieve the lowest production and distribution cost so they can price lower than their competitors.

• Differentiation – The business concentrate on achieving superior performance in an important customer benefit area valued by a large part of the market.

• Focus – Focus on one or more narrow market segment.

7. The goal of this strategy is to achieve the lowest production and distribution costs so price can be lowered than the competitors and win a large market share.

a) Overall cost leadershipb) Product or service alliancesc) Differentiationd) Focuse) Pricing collaboration

8. Which statement is false?

a) Philippine Airlines outsourcing ground operations to Sky Logistics is an example of service alliance.

b) The Teachers of Ateneo Graduate School of Business is an example of Service Alliance.

c) An example of logistic alliances is a distribution business for a manufacturing company.

d) Five star hotels that offer car rental services is an example of Pricing Collaborations.

e) An example of promotional alliance is the Metrobank Mabuhay Miles Credit Card.

8. Strategic Alliances

1. Product or Service Alliance2. Promotional Alliances3. Logistics Alliances4. Priding Collaboration

8. Strategic Alliances

1. Product or Service Alliance – One company licenses another to produce its products, or two.

2. Promotional Alliances – One company agrees to carry a promotion for another company’s product or service.

3. Logistics Alliances – One company offers logistical services for another company’s product.

4. Pricing Collaboration – One or more companies join in a special pricing collaboration.

8. Which statement is false.

a) Philippine Airlines outsourcing ground operations to Sky Logistics is an example of service alliance.

b) The Teachers of Ateneo Graduate School of Business is an example of Service Alliance.

c) An example of logistic alliances is a distribution business for a manufacturing company.

d) Five star hotels that offer Travel and Tour services is an example of Pricing Collaborations.

e) An example of promotional alliance is the Metrobank Mabuhay Miles Credit Card.

9. Business strategy that focuses on one or more narrow market segments.

a) Differentiationb) Overall cost leadershipc) Focusd) Presencee) Value Capture

9. Focus

Describes the scope over which the company should compete based on cost leadership or differentiation

9. Which statement is true about Strategic Business Units?

a) It is composed of several business units that can be planned separately from the rest of the company.

b) It has its own set of competitors.c) Its managers are only responsible in strategic

planning but not profit performance.d) All of the Abovee) None of the Above

9. Establishing Strategic Business Units

• A set of products or product lines – With clear independence from other products or

product lines – for which a business or marketing strategy should

be designed

9. Establishing Strategic Business Units

• A Strategic Business Unit has Three Characteristics:

1. It is a single business, or a collection of related business, that can be planned separately from the rest of the company.

2. It has its own set of competitors.3. It has a manager responsible for strategic

planning and profit performance, who controls most of the factors affecting profit.

9. Which statement is true about Strategic Business Units?

a) It is composed of several business units that can be planned separately from the rest of the company.

b) It has its own set of competitors.c) Its managers are only responsible in strategic

planning but not profit performance.d) All of the Abovee) None of the Above

10. The following define the major competitive spheres within which the company will operate except ______.

a) Industryb) Product and applicationsc) Market Segmentd) All of the Abovee) None of the Above

10. Competitive Spheres

• Industry • Products and applications• Competence • Market segment • Vertical • Geographical

10. Competitive Spheres

Industry – companies operate in only one industryProducts and applications – firms define the

range of products and applications they supplyCompetence – firms identify the range of

technological and other core competencies they master and leverage

Market segment – type of market or customers companies serve

Vertical – number of channel levels from raw materials to final product distribution

Geographical – range of regions, countries or country groups in which companies operate

10. The following define the major competitive spheres within which the company will operate except ______.

a) Industryb) Product and applicationsc) Market Segmentd) All of the abovee) None of the above

Top 10 Questions : Chapter 2 : Ansay

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