STR 581 CAPSTONE FINAL EXAM
Week 6 STR581 Capstone Final Exam - STUDY GUIDE (wink ; )
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 control
• Strategic 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
• ethics
• sustainability
• 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.
• Disaggregating
• Benchmarking
• Past performance comparison
• Industry comparison
13. The strategic factor that involves the beliefs, values, attitudes, opinions, and lifestyles of
persons in the firm’s external environment, as developed from cultural, ecological,
demographic, religious, educational, and ethnic conditioning.
• Political factor
• Stakeholder factor
• Economic factor
• Social factor
14. Leaders galvanize commitment to embrace change through clarifying strategic intent,
building an organization, and
• shaping organizational culture
• developing a vision
• developing a mission
• planning strategy
15. How do functional tactics compare to business strategies?
• Functional tactics are more focused on the general direction of the firm than business
strategies.
• Functional tactics are more focused on a commitment to corporate strategy than business
strategies.
• Functional tactics are more specific than business strategies.?
• Functional tactics are more long-term than business strategies.
Week 6 STR581 Capstone Final Exam - STUDY GUIDE (wink ; )
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 control
• Strategic 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
• ethics
• sustainability
• 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.
• Disaggregating
• Benchmarking
• Past performance comparison
• Industry comparison
13. The strategic factor that involves the beliefs, values, attitudes, opinions, and lifestyles of
persons in the firm’s external environment, as developed from cultural, ecological,
demographic, religious, educational, and ethnic conditioning.
• Political factor
• Stakeholder factor
• Economic factor
• Social factor
14. Leaders galvanize commitment to embrace change through clarifying strategic intent,
building an organization, and
• shaping organizational culture
• developing a vision
• developing a mission
• planning strategy
15. How do functional tactics compare to business strategies?
• Functional tactics are more focused on the general direction of the firm than business
strategies.
• Functional tactics are more focused on a commitment to corporate strategy than business
strategies.
• Functional tactics are more specific than business strategies.?
• Functional tactics are more long-term than business strategies.
