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Exam 16: Marketing Strategy

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Question 21

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What are the two dimensions measured in the General Electric Model?

A) market risk and business flexibility
B) market flexibility and business risk
C) market strength and business attractiveness
D) market attractiveness and business strength

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Question 22

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If a company's mantra is "We're unique," they are probably pursuing a cost leadership strategy.

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Question 23

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Low prices and low margins necessitate the hassle of having to deal in large volume.

When the gauges on a company dashboard head to the center or to the left, it means it's time to panic.

Explain the Treacy and Wiersema strategies.

Which is NOT one of the four classes of goals?

According to Porter, refers to producing goods and services for efficiently than the competition.

Whereas the cost leadership and differentiation approaches are said to be broad, the focused strategy is narrower.

A package delivery company or a cell phone company wouldn't go far if they could not deliver products smoothly and reliably. This means that is necessary for these industries.

Some companies revisit strategic assumptions from time-to-time just because they are thoughtful and reflective.

Goals regarding better communications can include spending advertising dollars more wisely and figuring out which media make the most sense to customer segments.

Strategic goals must integrate all 4Ps.

Cash cows don't need much marketing attention.

In the General Electric Model, the dimensions that are measured are market strength and business attractiveness.

Frank is the VP of Marketing, and his CEO has charged him with implementing a strategy that will grow the market. In order to grow the market Frank will likely have to break down the overall strategy of growing the market into smaller, simplified component strategies, such as increasing spending on advertising, and researching why his company's non­users do not purchase their product.

A company's brands or products are classified solely according to whether each has a strong or weak market share.

In the spirit of a product's life cycle, withdrawing marketing support can nudge a brand into faster decline.

Company ABC has a mature brand in a stable market, so managers maintain business as usual--same price, same marketing support, etc. What strategy are they using?

Strategic planning involves a reflection of our corporate identity.

A brand with small share in a market that is NOT growing is called a "dog."