29 Jun 2015
1. 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?
· Operational excellence
· Low-cost leadership
· Customer intimacy
· Product leadership
2. 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.
· technological improvement
· feature improvement
· style improvement
· quality improvement
3. 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 ________.
· market estimation
· brand association
· market partitioning
· market valuation
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4. This is designed to check systematically and continuously whether the premises on which the strategy is based are still valid
· Special alert control
· Strategic surveillance
· Implementation control
· Premise control
5. A firm must know where to position its product based on price and
· promotional efforts
6. 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 offer.
· Competitive analysis
· Business analysis
· Customer analysis
· Company analysis
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7. 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?
· Ultimate service benefit
· Complete marketing benefit
· Total customer benefit
· Total management benefit
8. A valuable result of task environment analysis with respect to geographic, demographic, psychographic and buyer-behavior factors is called
· competitor profile
· financial position
· vendor profile
· customer profile
9. The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda
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10. Large-scale, future-oriented plans for interacting with the competitive environment to achieve the company objective refers to its
· dynamic policies
· competitive analysis
11. With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.
· single-segment concentration
· product specialization
· market specialization
· selective specialization
12. 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.
· Past performance comparison
· Industry comparison
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13. 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.
· Political factor
· Stakeholder factor
· Economic factor
· Social factor
14. Leaders galvanize commitment to embrace change through clarifying strategic intent, building an organization, and
· shaping organizational culture
· developing a vision
· developing a mission
· planning strategy
15. How do functional tactics compare to business strategies?
· Functional tactics are more focused on the general direction of the firm than business strategies.
· Functional tactics are more focused on a commitment to corporate strategy than business strategies.
· Functional tactics are more specific than business strategies.
· Functional tactics are more long-term than business strategies.
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16. Under which of the following conditions is the frequency the most important factor in media selection?
· When introducing flanker brands
· When going into undefined target markets
· When launching infrequently purchased brands
· When there is high consumer resistance to the product
17. New-to-the-world products are ________.
· new product enhancements that supplement established products
· low-cost products designed to obtain an edge in highly competitive markets
· new products that create an entirely new market
· existing products that are targeted to new geographical markets
18. 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 ________.
· brand mission
· brand vision
· brand slogan
· brand personality
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19. Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?
20. 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?
· Explain the rules and regulations laid out by governmental agencies to protect the environment.
· Focus on the efforts and costs incurred by the company to bring these "green" products to consumers.
· Emphasize benefits to the consumer rather than environmental benefits.
· Demonstrate that the products will benefit both customers and the society in the long-term.
21. When diversification involves additions of a business related to the firm in terms of technology, markets or products, it involves
· vertical diversification
· concentric diversification
· horizontal integration
· concentrated growth
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22. 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.
· Economic responsibility
· Legal responsibility
· Employee responsibility
· Discretionary responsibility
23. Which control should periodically reassess its approach to the marketplace with a good marketing audit?
· Strategic control
· Marketing control
· Ethical control
· Performance control
24. What type of strategy consists of geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing?
· Regular prices
· Fixed pricing
· Price adaptation
· Altered pricing
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25. 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
· agency theory
· the moral hazard problem
· Adam’s theory
· ethical responsibilities
26. Firms using this generic strategy attempt to build customer loyalty by stressing a specific product attribute above other product qualities.
· Cost leadership
· Concentrated growth
27. 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.
· hard-core loyals
· shifting loyals
· split loyals
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28. 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.
29. 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.
· Internal analysis
· Value chain analysis
· External analysis
· SWOT analysis
30. 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?
· Step 4 – analyzing the information
· Step 5 – drafting the report
· Step 1 – defining the problem
· Step 2 – developing the research plan
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29 Jun 2015
1. Because practical considerations make job tryouts for all candidates infeasible, it is necessary to __________ the relative level of job performance for each candidate on the basis of available information.
2. Some studies indicate the best approach for transformational change may have the chief executive officer create an atmosphere for change
· but let others decide how to initiate change
· and begin establishing a vision
· but carefully set limits for the program
· and establish a reward system
3. Which of the following is a desirable strategy for managers aiming to reduce the negative consequences of rumors?
· Initiating disciplinary action against the employee who started the rumor
· Encouraging employees to communicate their concerns and suggestions
· Creating a more informal communication environment at the workplace
· Refusing to comment on issues that appear to be controversial and unfair
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4. A project can be segmented into which of the following?
· Work packages
· Success markers
5. Which of the following is an element that addresses elimination of waste under lean production?
· Group plant loading technology
· Minimized run times
· Production ahead of demand
· Kanban production control system
6. The Civil Rights Act of 1991 offered what for victims of unintentional discrimination?
· race norming
· adverse impact
· affirmative action
· monetary damages and jury trials
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7. Active listening requires:
· summarizing all areas of the performance-interview feedback discussion.
· verbal communications only
· summarizing only the areas of agreement
· interruptions to get your point across
8. Which of the following is ISO 14000 primarily concerned with?
· Time management
· Quality management
· Environmental management
· Continuous improvement management
9. Training that results in ______ is costly because of the cost of training (which proved to be useless) and the cost of hampered performance.
· negative transfer of training
· applicability of training
· reinforcement of training
· simulation of training
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10. As a university student, your institution’s social principles and practices reflect on you, as a stakeholder, in the organization. Therefore, it is your right to question how these practices should be evaluated in relation to the social issues that the school is addressing. If your university provides job-share programs, builds a day-care facility, and only uses recycled paper, it could be said to be ________.
· fulfilling its social obligation
· socially image conscious
· socially responsive
· socially aware
11. According to the job characteristics model, autonomy is defined as the degree to which
· a job requires completion of a whole and identifiable piece of work
· a job has an impact on the lives or work of other people
· a job generates direct and clear information about performance
· a job provides the worker freedom, independence, and discretion
12. Which of the following is considered a major process flow structure?
· Lean Manufacturing
· Lead Time
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13. An example of control criteria that can be used in any situation is ________.
· employee satisfaction
· average time to process paperwork
· client requests completed per hour
· number of calls taken per day
14. What can affirmative action assist organizations in achieving that diversity initiatives cannot?
· Maximizing creativity
· Maximizing workforce commitment
· Correcting specific problems of the past
· Increased productivity
15. Adoration of a charismatic leader by followers can lead to
· greater understanding of the company mission
· difficulty in developing a successor
· a competitive work environment
· limiting suggestions of fixes and improvements
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16. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled?
· WBS (Work Breakdown Structure)
· MRP (Material Requirements Plan)
· ERP (Enterprise Resource Planning)
· MPS (Master Production Schedule)
17. In performing a SWOT analysis, which of the following would be considered as a threat?
· Lack of a strategic plan
· Recognized brand
· Increased product demand
18. When an employee volunteers to run a canned food drive, this is an example of
· employee happiness
· employee productivity
· organizational citizenship behavior
· job satisfaction
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19. Conflicts can be resolved by withdrawing from them or suppressing them. This conflict-management technique is known as ________.
20. Sam Meyers manages a telemarketing call center. He has 20 employees working for him who are displeased with the way he yells and threatens to terminate them for what they see as small issues. Which kind of power is Sam using to get the job done?
· Reward power
· Referent power
· Coercive power
· Legitimate power
21. In _____, workers have been fired for refusing to quit smoking, for living with someone without being married, drinking a competitor’s product, motorcycling, and other legal activities outside of work.
· invasion of privacy
· lifestyle discrimination
· constructive discharge
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22. Mary arrives at her new job. Before she can begin actually doing the work, she must complete a series of activities including role playing and virtual reality interactions. What type of training method does Mary’s new employer use?
· Information presentation
· On-the-job training
· Organizational development
23. Which of the following is one of Dr. Eli Goldratt's rules of production scheduling for optimized production technology?
· Utilization and activation of a resource are not the same.
· If you lose an hour at a bottleneck it is better than making scrap.
· An hour saved at a bottleneck operation does not increase the process flow.
· Do not allow bottlenecks to govern the flow of the line.
24. Deming’s PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle?
· Standard deviation
· Project management
· Control charting
· Continuous improvement
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25.________ refers to an individual’s belief that he or she is capable of performing a task.
· Emotional contagion
· Affect intensity
26.____________ is the biggest hurdle to overcome in a pay-for-performance plan.
· Merit-pay increases
· Salary cap performance level
· Compensation equation
27. In order to make their firm a learning organization, managers should
· avoid the use of cross-functional teams
· penalize mistakes
· reinforce interdependence and reduce boundaries
· increase the degree of departmentalization
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28. During the implementation of a project, which of the following should be the primary focus of a consulting firm?
· People management skills
· Application of the learning curve theory
· The correct project software
· Tools and materials availability
29. The concept that some leadership attributes will work in some situations but not in others can be described by the
· leadership effectiveness theory
· behavioral theory
· contingency theory
· tactical theory
30. Which of the following statements is true with regard to the effectiveness of tactics?
· All tactics are equally effective with regard to upward influence.
· Individuals from collectivist cultures are typically more likely to use soft tactics that reflect personal power.
· Soft tactics are less effective than hard tactics when used individually
· The combination of a soft tactic with reasonable persuasion is more effective than a combination of two hard tactics.
This article covers the topic for the University Of Phoenix STR 581 Final Exam. The author is working in the field of education from last 5 years. This article covers the basic of STR 581 Final Exam Assignment from UOP. Other topics in the class are as follows:
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