MARKETING MISC WALKER TEST BANK – Western Sydney University

MARKETING MISC WALKER TEST BANK – Western Sydney University Which level of strategy provides direction on the company's mission, the kinds of businesses it should be in and its growth policies? A. business-level strategy B. corporate strategy C. marketing strategy D. service strategy 2. What component of strategy involves detailing the desired levels of accomplishment on one or more performance dimension over specified time periods for the organisation as a whole? A. scope of an organisation B. resource deployments C. identifying a sustainable competitive advantage D. goals and objectives of an organisation 3. What question needs to be specifically addressed while developing a business strategy? A. What business are we in? B. What business should we be in? C. What portion of our total resources should we devote to each business to achieve overall goals and objectives? D. What distinctive competencies can give the business unit a competitive advantage? 4. What is the primary focus of marketing strategy? A. decisions about the organisation's scope and resource deployments across divisions B. effective allocation and coordination of resources to meet organisational objectives within a specific product-market C. addressing which competitive advantage best matches the needs and wants of the customers in the target segment D. how a business unit competes within its industry 5. Which of the following falls within the scope of corporate strategy? A. target market definition B. vertical integration C. branding policies D. line extension 6. Which observation concerning market-oriented firms is incorrect? A. They are characterised by a consistent focus on customers' needs by personnel in all departments. B. They adapt product offerings to the special needs of different target markets. C. They are slower and less willing to adapt products and functional programs to fit environmental changes. D. They adopt a variety of organisational procedures to improve the responsiveness of decision-making. 7. Why are early entrants into newly emerging industries, particularly industries based on new technologies, especially likely to be internally focused and not very market-oriented? A. strong competition during the formative years B. rapid growth in demand for the new product C. customer demand less than available supply D. resource constraints rarely an immediate threat to survival 8. The tendency for firms to automatically continue strategies that were successful in the past, even though current market conditions are changing, is referred to as: A. marketing myopia B. strategic inertia C. cognitive dissonance D. law of probability 9. Product-oriented firms: A. are primarily concerned with the marketing concept B. are likely to be internally focused C. have broad product lines D. consider credit a customer service 10. Which of the following approaches characterises a production-oriented organisation? A. pricing based on perceived benefits provided B. applying new technology to satisfy customer needs C. company makes what can be sold D. primary focus on functional performance and cost 11. What characterises a market-oriented organisation? A. narrow product lines B. packaging designed for customer convenience C. technical research and focus on cost cutting in the production process D. emphasis on product features, quality and price 12. Dell attempted to maintain its long-standing low-cost position by reducing the number of technicians in its customer call centres. As a result, an increasing number of customers spent 30 minutes or more on hold before they found a technician to solve their problem. This affected Dell's customer satisfaction rating in the United States and its sales and profit growth stagnated. This scenario highlights: A. the increased importance of service B. strategic inertia C. the company's market-orientation focus D. the impact of information technology 13. Identify the incorrect statement concerning services. A. Services are the fastest-growing sector of developed economies. B. Good services improve customer loyalty over the long term. C. The intangible nature of services creates unique challenges for marketers. D. Efficient services are always tied to a physical product. 14. E-tailers such as Amazon and iTunes are examples of firms in this e-commerce category: A. Business-to-business B. consumer-to-business C. business-to-consumer D. consumer-to-consumer 15. Marketers have identified 4Cs critical to a good strategic marketing plan. Which of the following is not one among them? A. company B. context C. contacts D. customers 16. A distinct subset of people with similar needs, circumstances and characteristics that lead them to respond in a similar way to a particular product or service offering is known as a: A. market segment B. target market C. penetrated market D. marketing mix