MKT 475 Week 5 Quiz – Strayer
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Quiz
4 Chapter 6 and 7
Chapter
06
Market Targeting and Strategic
Positioning
True/False
Questions
1.
Segment targeting is used more extensively than product differentiation in
marketing.
164
2. Product
specialization involves offering buyers a product differentiated from competitors'
products.
164
3. Product-markets
that experience rapid growth are referred to as emerging market.
165
4. Growing
product-markets are shifting from growth to maturity, as indicated by the
product life cycles of the products.
165
5. The
total sales and profits of a product will decline after it reaches the maturity
stage.
166
6.
New entrants in an emerging market can use disruptive technologies to attract
buyers away from incumbent firms.
167
7.
Large, well-established companies are more likely to enter a new product-market
than are new enterprises.
167
8.
An experiential positioning concept applies to products that solve
consumption-related problems for externally generated consumption needs.
175
9.
Positioning shows how the company or brand is differentiated from its
competitors.
1
10.
Doubtful positioning occurs when frequent changes and contradictory messages
confuse customers regarding the positioning of the brand.
1
Multiple
Choice Questions
11. Naturo-All
Foods Inc. provides products that appeal to middle-class buyers who have strong
value preferences for natural foods and are willing to pay premium prices for
the products that are often not available from other grocery retailers. This
segment of customers is Naturo-All Foods Inc.’s _____.
A. focus
group
B. affiliate network
C. mass market
D. market target
162
12. The
_____ decision identifies the people or organizations in a product-market
toward which a firm directs its positioning strategy.
A. market
targeting
B. employer branding
C. domain selecting
D. strategic
sifting
163
13. Product-markets
that are newly formed are categorized as _____ and are created by factors such
as a new technology or the identification of unmet needs by
suppliers.
A. growing
B. emerging
C. mature
D. declining
165
14. A(n)_____
is a life product life cycle stage where the product-market is actually fading
away instead of experiencing a temporary fall or cyclical changes.
A.
emerging product-market
B.
maturing product-market
C.
declining product-market
D.
growing product-market
165
15.Which
of the following is true about the life cycle of a typical product?
A.
Profits are highest in the emerging phase of the product-market.
B.
Total profits increase after the product reaches the maturity stage.
C.
Sales are highest during the growth period.
D.
Profits fall off before sales as the product reaches maturity.
166
16. The
number of competitors in a(n) _____ market initially consists of the first
market entrant and one or two other firms.
A. emerging
B. maturing
C. declining
D. growing
166
17. Which
of the following market targeting approaches best fits extensive targeting in a
clearly defined market segment?
A. Product variety
B.
Target selected niches
C.
Target multiple segments
D.
Product specialization
164
18. Which
of the following market targeting approaches best fits selective targeting in a
segment not clearly defined?
A. Product variety
B. Target
selected niches
C. Target multiple segments
D. Product specialization
164
19. The
global market strategy of _____ considers the extent to which standardized
products and other strategy elements can be designed to compete on a global
basis, and buyers are targeted without regard to national boundaries and
regional preferences.
A. segmentation
B. buffering
C. local
responsiveness
D. integration
170
20. Which
of the following is a characteristic of emerging markets?
A.
Sales are highest in this stage of the product life cycle.
B.
Factors that drive market growth are clearly defined at this stage.
C.
Market segments are most defined at this stage.
D.
Profits are not obtained at this stage of the product life cycle.
166
167
21.
The positioning _____ indicates management’s desired positioning of the product
(brand) in the eyes and minds of the targeted buyers.
A.
strategy
B.
concept
C.
effectiveness
D.
location
172
1
22.
The positioning _____ is the positioning initiative which combines marketing
program (mix) policies used to portray the positioning desired by management to
the targeted buyers. It includes the product (good or service), supporting
services, distribution channels, price, and promotion actions taken by the
organization.
A.
effectiveness
B.
concept
C.
strategy
D.
location
1
23.
A(n) _____ positioning concept applies to products that solve
consumption-related problems for externally generated consumption
needs.
A. functional
B. lateral
C. symbolic
D. experiential
175
24. _____
positioning applies to products that relate to the buyer's internally generated
need for self-enhancement, role position, group membership, or
ego-identification.
A. Iconic
B. Symbolic
C. Functional
D. Experiential
175
25. The
_____ positioning concept is used to position products that provide sensory
pleasure, variety, and/or cognitive
stimulation.
A. material
B. functional
C. experiential
D. symbolic
175
26.
Which of the following positioning concepts is most commonly utilized by luxury
brands?
A.
Functional positioning
B.
Experiential positioning
C.
Expedient positioning
D.
Symbolic positioning
175
27.
Bruckners and Co. is a fine writing instruments company that manufactures
different products like pencils, pens, oil pastels, and other writing
accessories. A recent study conducted by Bruckners on their product positioning
revealed that most customers were only aware of Bruckners’ Artisan line of
pencils, which were particularly marketed for sketch artists. Which of the
following positioning errors is affecting the Artisan
brand?
A. Overpositioning
B. Underpositioning
C. Confused
positioning
D. Doubtful positioning
1
28.
Lambasta is a burger joint that claims to specialize in lamb burgers. Over the
past year, Lambasta has experimented in different products wherein they stopped
making some of their flagship lamb burgers and replaced them with chicken
burgers. The Lambasta website, which claims Lambasta to be “the only legitimate
lamb burger joint in town,” increasingly provides special offers on their
chicken burgers. Their core customer base and profits have steadily declined
ever since. Which of the following types of positioning errors is affecting
Lambasta?
A.
Underpositioning
B.
Overpositioning
C.
Symbolic positioning
D.
Confused positioning
1
29. Which
of the following describes doubtful positioning?
A. When frequent changes
and contradictory messages confuse customers regarding the positioning of the
brand
B. When the claims made for the product or brand are not regarded as
credible by the customer
C. When customers have too narrow an
understanding of the company, product, or brand
D. When customers have
only vague ideas about the company and its products and do not perceive
anything distinctive about them
1
30.
_____ occurs when customers have only vague ideas about the company and its
products and do not perceive anything distinctive about them.
A. Doubtful
positioning
B. Overpositioning
C. Underpositioning
D. Confused
positioning
1
Essay
Questions
31. Briefly
explain the four life cycle stages of the product-market environment.
32. Identify and discuss the
three possible targeting strategies in growth markets.
33. Explain
the consumer behavior of buyers in mature markets affecting brand
management.
34. Elaborate
on the scope of using positioning strategies.
35. Explain
how test marketing can help assess positioning effectiveness.
Chapter
07
Strategic Relationships
True/False
Questions
1. Environmental diversity increases the capacity of
an organization to respond quickly to customer needs and new product
development.
1
2. Environmental
diversity makes it difficult to link buyers and the goods and services that
meet buyers' needs and wants in the marketplace.
1
3. Competence in specialized
technology can give smaller firms extensive bargaining power with larger firms.
190
4.
Marketing intermediaries such as wholesalers and retailers are horizontal
channels of distribution.
191
5. Horizontal relationships have often been
established between competing firms to access global markets not served by the
cooperating firms.
191
6.
Opportunity costs should be considered when assessing and comparing costs in an
alliance.
195
7. Value chain relationships provide access to
consumer and organizational end-users.
199
8.
Strategic account management primarily deals with customers who do not directly
invest time or resources in their relationship with the firm.
201
9.
Alliances are agreements between two or more firms to establish a separate
entity.
203
10.
A disengagement plan should consider detailed description of the rights of each
partner to alliance assets and products on disengagement.
209
210
Multiple Choice Questions
11. _____ consists of “building a
complex product or process from smaller subsystems that can be designed
independently yet function together as a whole.”
A. Sifting
B. Modularity
C. Scaffolding
D. Encoding
1
12.
_____ reduces the capacity of an organization to respond quickly to customer
needs and new product development.
A.
Market-sensing
B.
Organizational learning
C.
Environmental diversity
D.
Vertical integration
1
13.
An organization that primarily competes through its relationships with other
organizations to deliver value to end-users is referred to as a _____.
A.
memory organization
B.
knowledge organization
C.
horizontal organization
D.
hollow organization
190
14.
Which of the following relationships is an example of an intermediate customer
relationship of a firm?
A.
Relationship to the distributors of the firm’s products
B. Relationship to
the consumers of the firm’s products
C. Relationship to the suppliers of
the firm
D. Relationship to the employees of the firm
196
15.
Which of the following is considered as an end-use customer of a firm?
A.
Competitor
B.
Supplier
C.
Distributor
D.
Consumer
196
16.
Which of the following is an example of lateral relationships?
A.
Relationship with suppliers
B.
Relationship with customers
C.
Relationship with competitors
D.
Relationship with functional departments
196
17.
Supplier relationships are similar to customer relationships in that they are
both considered as _____ to the firm.
A.
horizontal relationships
B.
vertical relationships
C.
internal relationships
D.
lateral relationships
196
18. Moving
products through various stages in the value-added process often involves
linking suppliers, manufacturers, distributors, and consumer and business end-users
of goods and services into _____
channels.
A. lateral
B. vertical
C. horizontal
D. parallel
197
19.
Which of the following is true of strategic alliances?
A.
It is a type of acquisition by one firm of another.
B.
It does not involve joint purchasing of stocks of another company.
C.
It is not a merger between two independent firms.
D.
It does not involve the sharing of existing distribution channels between the
firms.
202
20.
A _____ between two organizations is an agreement to cooperate to achieve one
or more common important objectives without forming a separate entity.
A.
joint venture
B.
merger
C.
divestiture
D.
strategic alliance
202
21. Collaborative
relationships between companies that are competitors or in related industries
are referred to as
_____.
A. outsources
B. alliances
C. joint
ventures
D. internal partnerships
202
22.
_____ are agreements between two or more firms to establish a separate entity.
A.
Franchises
B.
Consortiums
C.
Strategic alliances
D.
Joint ventures
203
23.
Which of the following relationships would be considered an internal
partnership?
A.
Relationships between functional units and employees of a firm
B.
Relationships between a firm and a competitor
C.
Relationships between a firm and its supplier
D.
Relationships between a firm and its customers
204
24. Strategic
leadership of a partnership can be achieved by:
A.
developing an interdependent leadership structure.
B.
assigning the responsibility to one of the partners.
C.
efficient outsourcing.
D.
initiating independent value chain functions.
207
25.
Companies may miss opportunities to reduce costs and generate additional income
by:
A.
assessing the venture’s strategic fit for continuing the alliance.
B.
generating extensive restructuring options.
C.
assigning accountability for making changes.
D.
failing to launch a process.
209
26.
Which of the following should be considered for a successful alliance
disengagement plan?
A.
Identifying and agreeing on the events that will trigger exit from the alliance
B.
Design of the engagement process
C.
Restructuring and cost-reduction
D.
Developing new markets and building market position
210
27.
Corporate alliances must demonstrate that their joint activities do not lead to
price fixing or other forms of _____.
A. boycotts
B. market
limitation
C. benefits
D. comfort letters
214
28. Industry
alliances for any purpose must avoid _____, treat codes of conduct as voluntary
while issues of breach of the code by suppliers must be addressed by individual
companies.
A. market manipulation
B. benefits
C. boycotts
D. comfort letters
214
29.
An alliance should demonstrate the low risk of anticompetitive harm and
pro-competitive _____ and efficiencies to be gained.
A. market manipulation
B. boycotts
C. benefits
D. comfort
letters
214
30. Alliances
can seek official _____ from bodies like the US Justice Department stating the
authority does not intent to challenge the activities of the
alliance.
A. patents
B. copyrights
C. laurels
D. comfort
letters
214
Essay
Questions
31. Mention
the factors that create a need to establish cooperative strategic relationships
between organizations.
32. Describe the different forms of organizational
relationships.
33.
What are the advantages and disadvantages of outsourcing firm activities?
34. What
is the rationale for Strategic Account Management (SAM) and what are the risks
of SAM?
35.
What features should a successful disengagement plan for a strategic alliance
contain?
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