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
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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
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
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5. A firm must know
where to position its product based on price and
- promotional efforts
- quality
- communication
- region
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
- ethics
- sustainability
- rules
- righteousness
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10. Large-scale,
future-oriented plans for interacting with the competitive environment to
achieve the company objective refers to its
- strategy
- dynamic policies
- competitive
analysis
- goals
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
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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.
- Disaggregating
- Benchmarking
- Past performance
comparison
- Industry comparison
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
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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.
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
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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?
- Economic
- Political
- Cultural
- Technological
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.
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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
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
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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
- Focus
- Differentiation
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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.
- switchers
- hard-core loyals
- shifting
loyals
- split loyals
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.
- Broadening
- Differentiation
- Diversification
- Preferencing
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
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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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