Question 1

Which of the following will act as a corner stone in maintaining the competitiveness of company

Accepted Answer

A)  Market focus.
B)  Defining capabilities.
C)  Relationships and organizational change.
D)  None of the above.

Question 2

If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?

Accepted Answer

A)  two-price
B)  customary.
C)  flexible.
D)  leader.

Question 3

Which of the following areas should not be taken into consideration when formulating a retailer's promotional strategy?

Accepted Answer

A)  the retailers credit customers.
B)  the price level of the merchandise.
C)  merchandise inventory levels.
D)  the retailer's net worth.

Question 4

Business composition is the term used while framing the following strategies. What are they?

Accepted Answer

A)  Corporate strategy.
B)  Marketing strategy.
C)  Business strategy.
D)  Both A and b.

Question 5

Which sources of advantage will be helpful for a firm to achieve positional advantage over its competitors?

Accepted Answer

A)  Superior skills.
B)  Superior resources.
C)  Superior controls.
D)  All of the above a, b and c. D

Question 6

What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?

Accepted Answer

A)  independent.
B)  separate.
C)  interactive.
D)  competitive.

Question 7

What type of competitive structure are most retail firms involved in?

Accepted Answer

A)  horizontal competition.
B)  monopolistic competition.
C)  vertical competition.
D)  pure competition.

Question 8

The term which is used to identify the major areas of business of a diversified organization is.

Accepted Answer

A)  Business area.
B)  Business segment, group or diversion
C)  Business scope.
D)  Diversified business.

Question 9

The best way for a retailer to differentiate itself in the eyes of the consumer form the competitions is to.

Accepted Answer

A)  increase advertising of sale items.
B)  offer the lowest prices in town.
C)  always be well stocked with the basic items that customers would expect to find in your store.
D)  not sell any of the brand names the competition is selling.

Question 10

Which of the following is not the characteristics of a strategic business unit?

Accepted Answer

A)  It serves a homogenous set of markets with a limited number of related technologies
B)  It serves a unique set of products.
C)  It owns responsibility for its own profitability.
D)  None of the above.

Question 11

Facilitating institutions may best be described as specialists that.

Accepted Answer

A)  take title but not possession of the merchandise.
B)  take title to the merchandise in order to facilitate the transaction
C)  manage the channel so as to increase over-all efficiency marketing functions
D)  perform certain marketing functions, in which they have an expertise, for other channel members. D

Question 12

Which analysis compares the strengths and weaknesses of a firm against the opportunities and threats in the external environment.

Accepted Answer

A)  Environmental analysis.
B)  Business analysis.
C)  SWOT analysis.
D)  None of the above.

Question 13

According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.

Accepted Answer

A)  Invest/growth
B)  Selective investment /maintain position.
C)  Harvest/divest
D)  None of the above.

Question 14

Which of the following marketing functions is one the retailer could not perform?

Accepted Answer

A)  selling.
B)  sorting.
C)  location analysis.
D)  buying.

Question 15

The two objectives of institutional advertising include:.

Accepted Answer

A)  creating a positive store image and public service promotion
B)  publicity and sales promotions.
C)  advertising a sale and generating store
D)  none of the above A

Question 16

The boomerang effect is a relatively new phenomenon that describes

Accepted Answer

A)  the recent trend for firms to seek bankrupts protection.
B)  the way styles from years ago come back as today's most popular styles.
C)  the recent trend of children returning to live with their parents after having already moved out.
D)  the recent trend of having most companies report losses for the current quarter .

Question 17

Which of the following is not included in the list of macro environmental variables.

Accepted Answer

A)  Prevailing economic conditions and political manifestors.
B)  Changes in legislation and emerging new technologies.
C)  Financial conditions and culture.
D)  None of the above.

Question 18

What are the elements that a mission statement of an organization should include?

Accepted Answer

A)  Sets guidelines for business operations
B)  Identifies the reasons for existence of a company and its responsibilities to the stakeholders
C)  Identifies the firms customers and their needs and marches them with products and services.
D)  All of the above A, B and c.

Question 19

The --- provides the retailer with a picture of the organization's profit and loss situation

Accepted Answer

A)  expense report.
B)  index of inventory valuation.
C)  statement of cash flow.
D)  income statement.

Question 20

The final stage of the consumer shopping/purchase model around which all other stages revolves is the.

Accepted Answer

A)  buy decision stage.
B)  active information gathering stage.
C)  purchase stage.
D)  post-purchase evaluation stage.

Exam 10: Marketing and Business Strategy

Which of the following will act as a corner stone in maintaining the competitiveness of company

Correct AnswerverifiedShow Answer

If a retailer is offering the same products and quantities to different customers at different prices, the retailer has what kind of pricing policy?

Correct AnswerverifiedShow Answer

Which of the following areas should not be taken into consideration when formulating a retailer's promotional strategy?

Correct AnswerverifiedShow Answer

Business composition is the term used while framing the following strategies. What are they?

Correct AnswerverifiedShow Answer

Which sources of advantage will be helpful for a firm to achieve positional advantage over its competitors?

Correct AnswerverifiedD

What word best describes the relationship between a retailer's pricing decisions and the merchandise, location, promotion, credit, services, image and legal decisions that retailers must make?

Correct AnswerverifiedShow Answer

What type of competitive structure are most retail firms involved in?

Correct AnswerverifiedShow Answer

The term which is used to identify the major areas of business of a diversified organization is.

Correct AnswerverifiedShow Answer

The best way for a retailer to differentiate itself in the eyes of the consumer form the competitions is to.

Correct AnswerverifiedShow Answer

Which of the following is not the characteristics of a strategic business unit?

Correct AnswerverifiedShow Answer

Facilitating institutions may best be described as specialists that.

Correct AnswerverifiedD

Which analysis compares the strengths and weaknesses of a firm against the opportunities and threats in the external environment.

Correct AnswerverifiedShow Answer

According to GE screening grid model, which strategy should a company follow when it has high industry attractiveness and low business competitive position.

Correct AnswerverifiedShow Answer

Which of the following marketing functions is one the retailer could not perform?

Correct AnswerverifiedShow Answer

The two objectives of institutional advertising include:.

Correct AnswerverifiedA

The boomerang effect is a relatively new phenomenon that describes

Correct AnswerverifiedShow Answer

Which of the following is not included in the list of macro environmental variables.

Correct AnswerverifiedShow Answer

What are the elements that a mission statement of an organization should include?

Correct AnswerverifiedShow Answer

The --- provides the retailer with a picture of the organization's profit and loss situation

Correct AnswerverifiedShow Answer

The final stage of the consumer shopping/purchase model around which all other stages revolves is the.

Correct AnswerverifiedShow Answer

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D

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A

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