Test Bank Bank for Strategic Marketing 9 E by Cravens

Full file at http://testbanksolution.eu/Test-Bank-Bank-for-Strategic-Marketing-9-E-by-Craens

Chapter 01 Imperatives for a Market-Driven Market-Driven Strategy True / False Questions

!. (p. 4) For co"panies that are beco"ing "arket oriente# the skills of top "anage"ent on ly are re$uire#. F!S"

Difficulty: Moderate

%. (p. 5) &ll the "a'or co"ponents of #istinctie capabilities are organi(ational processes an# assets. F!S"

Difficulty: Easy

). (p. 7) Superior custo"er alue results fro" a ery faorable use e*perience of the custo"er co"pare# to e*pectations of the custo"er cu sto"er an# the alue offerings of co"petitors. T#$"

Difficulty: Easy

+. (p. 10) Corporate strategy consists of the #ecisions "a#e by top-"anage"ent an# the resulting actions taken to achiee the ob'ecties o b'ecties set for the corporation. T#$"

Difficulty: Easy

!-!


,. (p. 12) & strategic business unit SB is a cohesie organi(ational unit that is separately "anage#0 incurs costs an#0 #oes not generate sales. F!S"


1. (p. 13) Strategic "arketing links the co"pany 2ith the eniron"ent an# "arketing is the responsibility of the entire business. T#$"

Difficulty: Challe!i!

3. (p. 14) & pro#uct-"arket consists of a specific pro#uct or pro#uct line that can satisfy a set of nee#s an# 2ants for the people 2illing an# able to purchase it. T#$"


4. (p. 14) The ob'ectie of strategic "arket seg"entation is to i#en tify seg"ents 2ithin the pro#uct-"arket of interest. T#$"


9. (p. 14) Custo"er relationship "anage"ent #oes not e"phasi(e # eliering superior custo"er alue. F!S"


!-%


!5. (p. 15) The purpose of "arket targeting strategy is to select people or organi(ations that "anage"ent 2ishes to sere in the pro#uct-"arket. T#$"

Difficulty: Easy

Multiple Choi%e Questions

!!. (p. 4) 66666 is "ore than a philosophy since it consists of a process for #eliering custo"er alue. & Market orientation B. Co"petitor intelligence C. Cross-functional coor#ination 7. 7istinctie capabilities


!%. (p. 4) &ns2ering the $uestions 82hich co"petitors0 2hat technologies an# ho2 custo"ers perceie being satisfie#8 co"es fro" 66666. &. Market orientation '& Co"petitor intelligence C. Cross-functional coor#ination 7. 7istinctie capabilities

Difficulty: Easy

!-)


!). (p. 4) etting all business functions 2orking together to proi#e superior custo"er alue is 66666. &. Market orientation B. Co"petitor intelligence C& Cross-functional coor#ination 7. 7istinctie capabilities

Difficulty: Easy

!-+


!+. (p. 5) 66666 is/are a bun#les of kno2le#ge that enables fir"s to "ake use of their assets. &. Market orientation B. Co"petitor intelligence C. Cross-functional coor#ination D& 7istinctie capabilities


!,. (p. 7) 66666 consists of the benefits an# costs resulting fro" the pu rchase an# use of pro#ucts as perceie# by the buyer. & Custo"er alue B. 7istinctie capabilities C. Custo"er linking 7. Custo"er ;elationships

Difficulty: Easy

!1. (p. ") 66666 consists of #eci#ing the scope an# purpose of the business0 the ob'ecties an# the resources necessary to achiee the ob'ecties. & Corporate strategy B. Business an# "arketing strategy C. Market sensing 7. Custo"er relationship "anage"ent

Difficulty: Easy

!3. (p. 11)
Difficulty: Easy

!-,


!4. (p. 11) The 66666 is/are set at seeral leels of the co"pany an# inclu#es the ti"e fra"e necessary for strategic change. &. Corporate strategy B. Business an# "arketing strategy C. Corporate ision D& Corporate ob'ecties


!9. (p. 13) The focus of 66666 is on organi(ational perfor"ance rather than a pri"ary concern about increasing sales. &. Corporate strategy '& Strategic "arketing C. Corporate ision 7. Corporate ob'ecties


%5. (p. 14) 66666 offers a co"pany the opportunity to focus its business on the re$uire"ents of one or "ore groups of buyers. &. Corporate strategy B. Strategic "arketing C& Market seg"entation 7. Corporate responsieness


%!. (p. 14) & 66666 is #escribe# by characteristics of people inclu#ing 2hy the y buy an# their preferences for bran#s of pro#ucts. &. Custo"er relationship "anage"ent syste" B. Strategic "arketing ob'ectie C& Market seg"ent 7. Corporate capability


!-1


!-3


%%. (p. 14) &n 66666 is for"e# accor#ing to the type of in#ustry or the uses of the pro#uct. &. Custo"er relationship "anage"ent syste" B. Strategic "arketing ob'ectie C& =n#ustrial "arket seg"ent 7. Corporate capability


%). (p. 14) 66666 e"phasi(es #eliering superior custo"er alue by personali(ing the interaction bet2een the custo"er an# the co"pany. & Custo"er relationship "anage"ent B. Strategic "arketing C. Market seg"entation 7. Corporate positioning


%+. (p. 14)

%,. (p. 15) & co"pany that is #eci#ing the 66666 ob'ec ties is likely to inclu#e the leel of sales they 2ish to achiee. &. Custo"er relationship "anage"ent B. Strategic "arketing C& Market target 7. Corporate positioning


!-4


%1. (p. 15) & 66666 is the co"bination of the pro#uct0 alue chain0 price an# pro"otion strategies a fir" uses to position itself against its co"petitors in "eeting the nee#s of a "arket target. &. Custo"er relationship strategy B. Strategic "arket C. Market target D& >ositioning strategy

Difficulty: Easy

%3. (p. 15) & 66666 seeks to hae the bran# o2n a place in the eyes an# "in# of the buyer an# the pro#uct be #istinguishe# fro" the pro#ucts of the co"petition. &. Custo"er relationship strategy B. Strategic "arket C. Market target D& >ositioning strategy


%4. (p. 15) The pro#uct0 #istribution0 price an# pro"otion strategy co"ponents are use# to influence the buyers8 66666 of the bran#. &. ;elationship strategy B. =#ea C. Market target D& >ositioning


!-9


%9. (p. 1#) The pro#uct0 #istribution0 price an# pro"otion strategy co"ponents are the "arketing 66666. &. ;elationship B. =#ea C. Target D& Mi*

Difficulty: Easy

!-!5


)5. (p. 17) Co"panies 2ill use a 66666 to contact an# #elier pro#uct to the "arket target buyers. &. >ro#uct strategy B. ?e2 i#ea strategy C& alue-chain strategy 7. ;elationship strategy


"ssay Questions

)!. (p. 7) 7iscuss ho2 custo"ers perceie alue an# ho2 co"panies #elier custo"er alue. =ntense global co"petition an# the increasing #e"an# s of eer-"ore sophisticate# custo"ers "ake the creation of custo"er alue an i"portant challenge for "anagers. @ffering superior custo"er alue is at the core of business #esign. Buyers for" alue e*pectations an# #ec i#e to purchase goo#s an# serices base# on their perceptions of pro#ucts8 benefits less the total costs incurre#. Custo"er satisfaction in#icates ho2 2ell the pro#uct use e*perience co"pares to the buyer8s alue e*pectations. Superior custo"er alue results fro" a ery faorable use e*perience co"pare# to e*pectations an# the alue offerings of co"petitors. The organi(ation8s #istinctie capabilities are use# to #elier alue by #ifferentiating the pro#uct offer0 offering lo2er prices relatie to co"peting bran#s or a co "bination of lo2er cost an# #ifferentiation. 7eci#ing 2hich aenue to follo2 re$uires "atching capabilities to the best alue opportunities.


!-!!


)%. (p. 7) E*plain the logic of pursuing a "arket-#rien strategy. Beco"ing "ore "arket oriente#0 leeraging the #istinctie capabilities an# fin#ing a goo# "atch bet2een custo"ers8 alue re$uire"ents an# the organi(ation8s capabilities is i"portant for co"panies. The supporting logic for these actions is that they are e*pecte# to lea# to superior custo"er alue an# organi(ational perfor"ance. ;esearch ei#ence in#icates that these characteristics are present in "arket-#rien organi(ations0 2hich #isplay higher perfor"ance than their counterparts that are not "arket #rien. & "arket-#rien organi(ation "ust i#entify 2hich capabilities to #eelop an# 2 hich inest"ent co""it"ents to "ake. Market orientation research an# eoling business strategy para#ig"s point to the i"portance of "arket sensing an# custo"er linking capabilities in achieing successful "arket-#rien strategies.


)). (p. $)

!-!%


)+. (p. 15) 7iscuss the role of "arket targeting in the co"pan y8s "arketing strategy. & core issue is #eci#ing ho20 2hen an# 2here to co"pete0 gien a fir"8s "arket an# co"petitie eniron"ent. The purpose of "arket targeting strategy is to select the people or organi(ations that "anage"ent 2ishes to sere in the pro#uct-"arket.

),. (p. 15) 7iscuss the role of positioning strategy in the co"pan y8s "arketing strategy. >ositioning strategy is the co"bination of pro#uct0 alue chain0 price an# pro"otion strategies a fir" uses to position itself against its key co"petitors in "eeting the nee#s an# 2ants of the "arket target. The strategies an# tactics use# to gain a faorable position are calle# the "arketing "i* or the "arketing progra". The positioning strategy seeks to position the bran# in the eyes an# "in# of the buyer an# #istinguish the pro#uct fro" the co"petition. The pro#uct0 #istribution0 price an# pro"otion strategy co"ponents "ake up a bun#le of actions that are use# to influence buyers8 positioning of a bran#.


!-!)

Test Bank Bank for Strategic Marketing 9 E by Cravens

Recommend Documents