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Strategic Market-Business Strategy/Market Opportunity

1. Five management tasks used to develop strategic competencies do not include the following:
A. Strategic analysis
B. Manage multiple business units
C. Identify competitors
D. Develop a growth platform

2. Strategic analysis includes:
A. Internal and external analysis
B. Strategic and analysis outputs
C. Implementing strategy
D. Adapting strategy

3. Unmet consumer needs are important because:
A. Unmet need consumers are easier to sell to
B. Opportunities exist for firms to increase their profits
C. Opportunities exist for firms to increase their market share
D. Opportunities exist for firms to take business from

4. In completing a checklist on competitor assets and competencies, some of the areas to be considered include all but one of the following:
A. Company culture
B. Innovation
C. Manufacturing
D. Strategic programming

5. In addition to current competitors, it is important to consider potential market entrants such as firms that might engage in all but one of the following:
A. Retaliatory or defensive strategies
B. Market expansion
C. Forward integration
D. Low-cost strategies

6. It is important to consider potential market entrants because these firms might engage in any of these activities EXCEPT :
A. Forward integration
B. Product expansion
C. Reorganization
D. Market expansion

7. Porter's five factor model involves: the intensity of competition, competition among existing firms, threat of substitute products, bargaining power of suppliers, and
A. Power of the government
B. Power of the external market
C. Bargaining power of customers
D. Power of the environment

8. Which of the following is not an indicator of market maturity or decline?
A. Predictions for high growth
B. Customer disinterest
C. Price pressure
D. Saturation

9. Performance measures reflecting long-term profitability include all but one of the following:
A. Product/service quality
B. Customer satisfaction
C. Outsourcing ability
D. Relative cost

10. All the following are guidelines for measuring customer satisfaction except...
A. Identify causes of dissatisfaction that motivate customers to change brands
B. Evaluate the lifetime value of customer to the product
C. Track measures and compare to competitors
D. Differentiate between dissatisfaction and dislike of product

11. All of the following are ways to increase shareholder value EXCEPT:
A. Invest in products that are low risk
B. Reduce the cost of capital by increasing debt to equity ratio
C. Earn more profit by reducing costs
D. Increase revenue without using more capital

12. To successfully manage a strategic commitment, a firm should have four characteristics. Which of the following is not one of the four?
A. Senior management with MBAs
B. Buy-in throughout the organization
C. Assets, competencies, and resources to implement it

13. Which of the following is not one of the three philosophies of developing strategy?
A. Strategic drift
B. Strategic opportunism
C. Strategic adaptability
D. Strategic commitment

14. The value proposition of "Corporate Social Programs" focuses upon:
A.A firm's products and services
B. Customer's social concerns
C.A firm's social concerns
D. Profitability

15. A firm that follows a superior quality strategy:
A. Makes the highest quality products possible
B. Make products that consistently meet the quality requirements of customers
C. Make products that are statistically better than the competition
D. Rely on their quality control function for product quality

16. The experience or learning curve
A. Describes how quickly people learn at different jobs
B. Compares learning rates by consumers in different markets
C. Explains the value of producing additional units of products
D. Compares unit cost with cumulative output

17. You have been given the task to evaluate a market opportunity for a firm. Give specific examples of the dimensions you would use to determine the attractiveness of a given market.

18. Describe and give examples of a well-developed business strategy including the four characteristics.

Solution Preview

1. Five management tasks used to develop strategic competencies do not include the following:
A. Strategic analysis
B. Manage multiple business units
C. Identify competitors
D. Develop a growth platform
Look at p. 2 for list- C is not listed. This is tricky through since a strategic analysis would include knowing who competitors are. I'd still pick C.

2. Strategic analysis includes:
A. Internal and external analysis
B. Strategic and analysis outputs
C. Implementing strategy
D. Adapting strategy
Strategic analysis chart is on page 11- all of these are listed (A-D). If you are only allowed one pick 'A'

3. Unmet consumer needs are important because:
A. Unmet need consumers are easier to sell to
B. Opportunities exist for firms to increase their profits
C. Opportunities exist for firms to increase their market share
D. Opportunities exist for firms to take business from
. P. 35 states, "Unmet needs are strategically important because they represent opportunities for firms to increase their market share, break into a market, or create and own new markets. They can also represent threats to established firms in that they can be a lever that enables competitors to disrupt an established position." So I would suggest 'C'

4. In completing a checklist on competitor assets and competencies, some of the areas to be considered include all but one of the following:
A. Company culture
B. Innovation
C. Manufacturing
D. Strategic programming
I am confused by this question- look at page 53. Based on this information I would pick 'D' I think. 'A' would be
my second choice.

5. In addition to current competitors, it is important to consider potential market entrants such as firms that might engage in all but one of the following:
A. Retaliatory or defensive strategies
B. Market expansion
C. Forward integration
D. Low-cost strategies
Read p. 45-6. I'd pick 'D'

6. It is important to consider potential market entrants because these firms might engage in any of these activities EXCEPT :
A. Forward integration
B. Product expansion
C. Reorganization
D. Market expansion
'C' doesn't have anything to do with the other choices.

7. Porter's five factor model involves: the intensity of competition, competition among existing firms, threat of substitute products, bargaining power of suppliers, and
A. Power of the government
B. Power of the external market
C. Bargaining power of customers
D. Power of the environment
'C' , see p. 67 for chart

8. Which of the following is not an indicator of market maturity or decline?
A. Predictions for high growth
B. Customer disinterest
C. Price pressure
D. Saturation
"A'- ...

Solution Summary

This solution includes help for strategic marketing questions based on Aaker's 'Strategic Marketing' text, chapters 1-8. Includes how to evaluate market opportunity and four characteristics of business strategy with examples.

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