When performing this analysis

1. 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. Customer analysis Business analysis Competitive analysis Company analysis

 

2.Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and shaping organizational culture planning strategy developing a mission developing a vision

 

3.Large-scale, future-oriented plans for interacting with the competitive environment to achieve the company objective refers to its goals dynamic policies competitive analysis strategy

 

4.This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid Strategic surveillance Premise control Special alert control Implementation control

 

5. These social responsibilities are those that are voluntarily assumed by a business or organization. They include public relations activities, good citizenship, and full corporate social responsibility. Economic responsibility Legal responsibility Employee responsibility Discretionary responsibility

 

6. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own. hard-core loyals switchers shifting loyals split loyals

 

7. 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. Social factor Economic factor Stakeholder factor Political factor

 

8. How do functional tactics compare to business strategies? Functional tactics are more specific than 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 long-term than business strategies.

 

9. Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities. Focus Differentiation Cost leadership Concentrated growth

 

10. 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 quality improvement style improvement

 

11. 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? Product leadership Operational excellence Low-cost leadership Customer intimacy

 

12. A firm must know where to position its product based on price and promotional efforts communication quality region

 

13. A firm must know where to position its product based on price and promotional efforts communication quality region

 

14. This is a historically popular technique through which managers create a quick overview of a company’s strategic situation—it is based on achieving a sound fit between internal resources and the external situation. Value chain analysis Internal analysis SWOT analysis External analysis

 

15. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group. product specialization selective specialization market specialization single-segment concentration

 

16. Under which of the following conditions is the frequency the most important factor in media selection? When going into undefined target markets When there is high consumer resistance to the product When introducing flanker brands When launching infrequently purchased brands

 

17. 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 partitioning market estimation market valuation brand association

 

18. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called vendor profile competitor profile customer profile financial position

 

19. This is an important structural decision and resultant separate activities need to be coordinated and integrated back together as a whole so the business functions effectively. Broadening Diversification Differentiation Referencing 20. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves horizontal integration concentric diversification vertical diversification concentrated growth