STR 581 Capstone Final Examination,

Part Three

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
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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 products 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
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
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

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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 humanitys needs without harming future generations is
now a top priority in most corporate agenda

ethics
sustainability

rules

righteousness
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 firms 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. BMWs "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
19. Which component of a marketing audit includes major developments in
income, prices, savings, and credit that affect the company?

Economic
Political

Cultural

Technological

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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
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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
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

Adams 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
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29. This is a historically popular technique through which managers create a

quick overview of a company's strategic situationit 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

About Author
This article covers the topic for the University Of Phoenix STR 581 Final Examination,
Part Three . 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:
STR 581 Week 1 Ethics Reflection Paper
STR 581 Week 1 Knowledge Check (Latest)
STR 581 Week 1 Complete
STR 581 Week 2 Research Proposal
STR 581 Week 2 Learning Team Activity
STR 581 Week 2 Knowledge Check (Latest)
STR 581 Week 3 External and Internal Environmental Analysis
STR 581 Week 3 Learning Team Peer Evaluation
STR 581 Week 3 Knowledge Check (Latest)
STR 581 Week 3 Complete
STR 581 Week 2 Complete
STR 581 Week 4 Strategic Choice and Evaluation
STR 581 Week 4 Learning Team Peer Evaluation
STR 581 Week 4 Knowledge Check (Latest)
STR 581 Week 4 Complete
STR 581 Week 5 Implementation Strategic Controls and Contingency Plans
STR 581 Week 5 Learning Team Peer Evaluation
STR 581 Week 5 Knowledge Check (Latest)

STR 581 Week 5 Complete

STR 581 Week 6 Strategic Plan and Presentation
STR 581 Week 6 Complete
STR 581 Week 4 Capstone Final Examination, Part Two
STR 581 Week 2 Capstone Final Examination, Part One

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