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Exam 16: Marketing Strategy

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Question 21

Multiple Choice

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A package delivery company or a cell phone company wouldn't go far if they could not deliver products smoothly and reliably. This means that is necessary for these industries.

A) operational excellence
B) product leadership
C) customer intimacy
D) cost leadership

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Question 22

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According to Porter, refers to producing goods and services for efficiently than the competition.

A) cost leadership
B) differentiation
C) focus
D) excellence

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Question 23

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Company ABC has a mature brand in a stable market, so managers maintain business as usual--same price, same marketing support, etc. What strategy are they using?

When the gauges on a company dashboard head to the center or to the left, it means it's time to panic.

Whereas the cost leadership and differentiation approaches are said to be broad, the focused strategy is narrower.

In the General Electric Model, the dimensions that are measured are market strength and business attractiveness.

A company's brands or products are classified solely according to whether each has a strong or weak market share.

Frank is the VP of Marketing, and his CEO has charged him with implementing a strategy that will grow the market. In order to grow the market Frank will likely have to break down the overall strategy of growing the market into smaller, simplified component strategies, such as increasing spending on advertising, and researching why his company's non­users do not purchase their product.

Which is NOT one of the four classes of goals?

Strategic planning involves a reflection of our corporate identity.

Goals regarding better communications can include spending advertising dollars more wisely and figuring out which media make the most sense to customer segments.

What are the two dimensions measured in the General Electric Model?

Explain the Treacy and Wiersema strategies.

Strategic goals must integrate all 4Ps.

In the spirit of a product's life cycle, withdrawing marketing support can nudge a brand into faster decline.

Some companies revisit strategic assumptions from time-to-time just because they are thoughtful and reflective.

If a company's mantra is "We're unique," they are probably pursuing a cost leadership strategy.

Cash cows don't need much marketing attention.

A brand with small share in a market that is NOT growing is called a "dog."

Low prices and low margins necessitate the hassle of having to deal in large volume.