25 May Question 1. Wal-Mart is an example of a firm that has achieved operational excellence.
Question
1. Wal-Mart is an example of a firm that has achieved operational excellence.
True False
2. To build a sustainable competitive advantage, most companies should focus on a single strategy.
True False
3. It is not always necessary to go through all the steps in the marketing planning process.
True False
4. A mission statement describes a firm’s tactical mission.
True False
5. By maintaining control of access to their operating system, Microsoft has maintained a sustainable competitive advantage.
True False
6. STP refers to selection, trying, and planning.
True False
7. Many online universities target older, middle-income adults. They are using demographic segmentation.
True False
8. Firms are typically more successful when they focus on opportunities that build on their competitor’s strengths.
True False
9. The manager of Brainpower Bookstore checks Amazon.com each week and matches the specials Amazon is offering on bestselling books. Brainpower is using a cost-based pricing strategy.
True False
10. Price should be based on the value that the customer perceives.
True False
11. Gerald manages the electrical turbine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Gerald manages a strategic business unit.
True False
12. The actual planning process always proceeds sequentially through the five steps.
True False
13. Isaac is trying to offer more products and services to his existing customers. He is pursuing a market development strategy.
True False
14. If Starbucks decided to open new outlets selling organic food to corporate eating facilities they would be pursuing a diversification strategy.
True False
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