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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