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STR 581 Week 6 Capstone Exam.docx


Study Guide


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1. 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.
2. 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.
3. This is designed to check systematically and continuously whether the premises on which the
strategy is based are still valid
4. What type of strategy consists of geographical pricing, price discounts and allowances,
promotional pricing, and differentiated pricing?
5. 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?
6. 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.
7. With ________ as a target market strategy, the firm concentrates on serving many needs of a
particular customer group.
8. The ability to meet humanity’s needs without harming future generations is now a top priority
in most corporate agenda
9. 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
10. How do functional tactics compare to business strategies?
11. A set of ideas on organizational control based on the belief that the separation of the
ownership from management creates the potential for the wishes of owners to be ignored
refers to
12. The marketing manager needs to know the cost of the research project before approving it.
During which stage of the marketing research process would such a consideration most likely
take place?
13. What is the perceived monetary value of the bundle of economic, functional, and
psychological benefits customers expect from a given market offering because of the product,
service, people, and image?
14. A valuable result of task environment analysis with respect to geographic, demographic,
psychographic and buyer-behavior factors is called
15. Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants
to launch a "green marketing" program in response to heightened consumer awareness about
environmental issues. What should the company do to maximize the program's chances of
being successful?
16. Which control should periodically reassess its approach to the marketplace with a good
marketing audit?

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17. 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.
18. Company X's principal strength is its inbound and outbound logistics system; its relative
weakness, however, is after-sales service. Its competitor, Company Y, however is often
plagued with lagging shipments and an inflexible distribution setup. Company Y remains
successful because it maintains a fully staffed service department and, as a result, the
company is known for its dependable service. This type of analysis allows them to identify
ways to build on relative strengths and avoid dependence on capabilities at which the other
firm excels.
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. Firms using this generic strategy attempt to build customer loyalty by stressing a specific
product attribute above other product qualities
21. Under which of the following conditions is the frequency the most important factor in media
22. A firm must know where to position its product based on price and
23. New-to-the-world products are ________.
24. Large-scale, future-oriented plans for interacting with the competitive environment to achieve
the company objective refers to its
25. BMW's "The ultimate driving machine," American Express' "Don't leave home without it," New
York Times' "All the news that's fit to print," and AT&T's "Reach out and touch someone" are
all examples of ________.
26. 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.
27. 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
28. Which component of a marketing audit includes major developments in income, prices,
savings, and credit that affect the company?
29. When diversification involves additions of a business related to the firm in terms of
technology, markets or products, it involves
30. Leaders galvanize commitment to embrace change through clarifying strategic intent, building
an organization, and

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Had to paraphrase some of the content but overall, really useful material.

Thanks, good work

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