BUSI 438 EXAM 1

19 Sep BUSI 438 EXAM 1

Question 1

1. _____ changes products into      commodities, making it difficult for companies to earn anything more than      subsistence returns from those products.

 

Disruptive innovation

 

Modularization

 

Cannibalization

 

Segmentation

3 points

Question 2

1. Which of the following about      brands is true?

 

Brands facilitate promotional   effectiveness for sellers.

 

Brands help reduce prices for buyers.

 

Brands minimize market segmentation   to cater to a larger target.

 

Brands enhance buyers’ perceived   risks.

3 points

Question 3

1. Superior customer value results      from a very favorable use experience of the customer compared to      expectations of the customer and the value offerings of competitors.

True

False

3 points

Question 4

1. _____ are described by different      characteristics of customers, the reasons that they buy or use certain      products, and their preferences for certain brands of products.

 

Market shares

 

Strategic marketing objectives

 

Market segments

 

Corporate capabilities

3 points

Question 5

1. _____ consists of coordinating the      organization’s system of brands with the objective of achieving optimal      system performance. It focuses on brand interrelations rather than an      individual brand.

 

Strategic brand analysis

 

Managing the brand portfolio

 

Leveraging the brand

 

Brand equity management

3 points

Question 6

1. Which of the following brand      leveraging strategies involves the sale of a firm’s brand name to another      company for use on a noncompeting product?

 

Line extension

 

Brand extension

 

Co-branding

 

Licensing

3 points

Question 7

1. Co-branding is the sale of a      firm’s brand name to another company for use on a noncompeting product.

True

False

3 points

Question 8

1. Customer linking is an example of      an outside-in process.

True

False

3 points

Question 9

1. The organizational process view of      distinctive capabilities requires shifting away from the traditional      specialization of business functions toward a cross-functional process      perspective.

True

False

3 points

Question 10

1. Which of the following stages of      marketing strategy process considers organizational design and marketing      strategy implementation and control?

 

Implementing and managing market-driven   strategy

 

Designing market-driven strategy

 

Identifying and evaluating markets,   segments, and customer value

 

Market-driven program development

3 points

Question 11

1. Stretching the brand vertically      consists of launching a new product line in another product class.

True

False

3 points

Question 12

1. Brand extension consists of two      well-known brands working together in promoting their products.

True

False

3 points

Question 13

1. In a corporate strategy, _____      indicate(s) the dimensions of performance upon which to focus and the      levels of achievement required.

 

corporate objectives

 

synergies

 

vision

 

scope

3 points

Question 14

1. Marketing plans for specific      brands are usually developed at the _____ level.

 

market-driven management

 

product group/marketing management

 

product portfolio management

 

product/brand management

3 points

Question 15

1. In the initial stage of      competition, the competitors concentrate on market share for end products      and profits.

True

False

3 points

Question 16

1. Company sales divided by the total      sales of all firms for a specified product-market determines the _____ of      a particular firm.

 

market potential

 

absolute threshold

 

relative market position

 

market share

3 points

Question 17

1. Pricing is an example of an      outside-in process.

True

False

3 points

Question 18

1. Preference mapping offers useful      guidelines for strategic targeting and product positioning.

True

False

3 points

Question 19

1. Getting all business functions      working together to provide superior customer value is referred to as _____.

 

customer relationship management

 

competitor intelligence

 

cross-functional coordination

 

centralization

3 points

Question 20

1. _____ analysis is horizontal and      only covers similar types of firms and operating practices of the firms.

 

Value chain

 

Industry

 

Market segmentation

 

Customer profile

3 points

Question 21

1. Using the same brand name to      market one or more lines of related goods which represent different      categories, such as Crest toothpaste, brushes, and floss, is referred to      as _____.

 

corporate branding

 

product-line branding

 

combination branding

 

private branding

3 points

Question 22

1. Which of the following is the      final phase of competition?

 

Partnering of companies with the   objective of controlling industry standards

 

Companies competing in identifying   product concepts

 

Competitors concentrating on market   share for end products and profits

 

Firms focusing on building   competencies

3 points

Question 23

1. Which of the following stages of      marketing strategy process consists of brand, value-chain, pricing, and      promotion and selling strategies designed and implemented to meet the      value requirements of targeted buyers?

 

Implementing and managing   market-driven strategy

 

Designing market-driven strategy

 

Identifying and evaluating markets,   segments, and customer value

 

Market-driven program development

3 points

Question 24

1. Which of the following is a      function of brands for sellers?

 

Reduce sellers’ perceived risks

 

Facilitate low production costs

 

Diminish market segmentation,   offering products to a larger target

 

Facilitate the introduction of new   products

3 points

Question 25

1. _____ consist(s) of deciding the      scope and purpose of the business, the objectives, and the resources      necessary to achieve the objectives.

 

Marketing strategy

 

Corporate strategy

 

Market sensing

 

Channel bonding

3 points

Question 26

1. For buyers, brands play the      function of:

 

aiding repeat purchases.

 

reducing premium pricing.

 

minimizing buyers’ perceived risks.

 

facilitating brand loyalty.

3 points

Question 27

1. Product life cycles are becoming      longer for many products due to new technology, rapidly changing      preferences of buyers, and intense competition.

True

False

3 points

Question 28

1. _____ involves extending the core      brand identity to a new addition to the product line, or to a new product      category.

 

Strategic brand analysis

 

Managing the brand portfolio

 

Leveraging the brand

 

Brand equity management

3 points

Question 29

1. _____ consist(s) of the benefits      and costs resulting from the purchase and use of products as perceived by      the buyer.

 

Customer value

 

Distinctive capabilities

 

Spanning process

 

Market sensing

3 points

Question 30

1. A name, term, design, symbol, or      any other feature that identifies one seller’s good or service as distinct      from those of other sellers is known as a(n) _____.

 

product

 

merchandise

 

brand

 

advertisement

3 points

Question 31

1. _____ are complex bundles of      skills and accumulated knowledge, excised through organizational      processes, that enables firms to coordinate activities and make use of      their assets.

 

Business clusters

 

Competitor faculties

 

Cross functions

 

Distinctive capabilities

3 points

Question 32

1. _____ seeks to place the brand in      the eyes and mind of the buyer and distinguish the product from those in      competition.

 

Customer relationship strategy

 

Positioning strategy

 

Benchmarking

 

Value-chain strategy

3 points

Question 33

1. Discuss how customers perceive      value and how companies deliver customer value.

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