MGT 487 Quiz 1-5 WITH CORRECT ANSWERS

MGT 487 Quiz 1-5 WITH CORRECT
ANSWERS

According to Dr. Mueller, the difference between a marketing strategy
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and a competitive strategy is
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A.
a marketing strategy is focused on customer needs while a competitive
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strategy is focused on competition.
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B.
a marketing strategy is focused on products and markets while a
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competitive strategy is focused on competitors as organizations with
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resources and capabilities.
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C.
a marketing strategy is focused on strengths and weaknesses while a
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competitive strategy is focused on opportunities and threats.
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D.
none of the above. There is no difference between a marketing strategy
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and a competitive strategy. - CORRECT ANSWER✔✔-B.
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a marketing strategy is focused on products and markets while a
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competitive strategy is focused on competitors as organizations with
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resources and capabilities.
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,The BEST measure of a company's effectiveness from a strategic
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perspective is |




A.
profitability.
B.
growth in earnings per share.
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C.
growth in market share.
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D.
productivity. - CORRECT ANSWER✔✔-C.
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growth in market share.
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According to the text, the triple bottom line approach to corporate
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accounting includes which three components?
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A.
financial, organizational, and customer
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B.
financial, environmental, and customer
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C.
financial, environmental, and social
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D.
financial, organizational, and psychological - CORRECT ANSWER✔✔-C.
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,financial, environmental, and social
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Which of the following statements is true?
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A.
A competitive strategy is intended to neutralize the actions and
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reactions of competitors. | |




B.
Adherence to best practices is an effective competitive strategy.
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C.
A competitive strategy takes into account the strengths and weaknesses
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of a competitor's product or service.
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D.
All of the above statements are true. - CORRECT ANSWER✔✔-A.
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A competitive strategy is intended to neutralize the actions and
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reactions of competitors. | |




Corporate-level strategy looks at how to manage the ________ of its
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businesses to create synergies. | | |




A.
competitors
B.
market pricing |

, C.
portfolio
D.
stock prices - CORRECT ANSWER✔✔-C.
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portfolio


Firms must be aware of goals other than short-term profit
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maximization. One area of concern should be social responsibility, which
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is the
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A.
idea that organizations are solely responsible to local citizens.
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B.
expectation that business will strive to improve the overall welfare of
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society.
C.
fact that court costs could impact the financial bottom line.
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D.
idea that businesses are responsible for maintaining a healthy social
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climate for their employees. - CORRECT ANSWER✔✔-B.
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expectation that business will strive to improve the overall welfare of
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society.