ch2 (1) - cha1 Student 1 Wal-Mart is an example of a firm...

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cha1 Student: ___________________________________________________________________________ 1. Wal-Mart is an example of a firm that has achieved operational excellence. True False 2. To build a sustainable competitive advantage, most companies should focus on a single strategy. True False 3. It is not always necessary to go through all the steps in the marketing planning process. True False 4. A mission statement describes a firm's tactical mission. True False 5. By maintaining control of access to their operating system, Microsoft has maintained a sustainable competitive advantage. True False 6. STP refers to selection, trying, and planning. True False 7. Many online universities target older, middle-income adults. They are using demographic segmentation. True False 8. Firms are typically more successful when they focus on opportunities that build on their competitor's strengths. True False 9. The manager of Brainpower Bookstore checks each week and matches the specials Amazon is offering on bestselling books. Brainpower is using a cost-based pricing strategy. True False 10. Price should be based on the value that the customer perceives. True False 11. Gerald manages the electrical turbine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Gerald manages a strategic business unit. True False
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12. The actual planning process always proceeds sequentially through the five steps. True False 13. Isaac is trying to offer more products and services to his existing customers. He is pursuing a market development strategy. True False 14. If Starbucks decided to open new outlets selling organic food to corporate eating facilities they would be pursuing a diversification strategy. True False 15. Scenario planning is a special kind of strategic planning that replaces the traditional development of a marketing plan. True False 16. Dunkin' Donuts and Starbucks have transformed and lead the branded coffee market by: A. using fresher ingredients than competitors do. B. employing different but focused marketing strategies. C. relying on quick responses to each others' moves instead of working through detailed plans and strategies. D. locating exclusively near college campuses and high-density downtown offices. E. All of the above. 17. Over the last few months, John and his colleagues have been identifying the target markets for his firm's personal care products and then developing the products, prices, distribution and promotion that will appeal to each of those target markets. In doing so, he has also identified what he believes is an advantage his competitors cannot match. John has been working on: A. strategic planning B. vision development C. team-building exercises D. a marketing strategy E. competitive assessments 18. Companies seek to develop a sustainable competitive advantage that can be maintained over a long period of time and: A. is difficult for competitors to copy.
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ch2 (1) - cha1 Student 1 Wal-Mart is an example of a firm...

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