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.
2.Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and
shaping organizational culture
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
4.This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid
Special alert 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.
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.
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.
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.
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.
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?
12. A firm must know where to position its product based on price and
13. A firm must know where to position its product based on price and
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
15. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
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 ________.
18. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called
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.
20. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves
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