Question 1

The primary purpose of a business strategy is to ________.

Accepted Answer

A)   advance the firm's vision and objectives
B)   oversee the firm's core competencies
C)   establish an international brand
D)   eliminate competing companiesE) None of the above
F) B) and C)

Question 2

A comprehensive marketing strategy should specify what needs the firm will meet in order to achieve ________.

Accepted Answer

A)   niche market segmentation
B)   product customization
C)   sustainable differentiation
D)   customer consolidationE) C) and D)
F) None of the above C

Question 3

The key to IKEA's success has been the firm's desire to alter its basic business strategy every few years to meet changing customer needs and trends.

Accepted Answer

A) True 
 B)False

Question 4

Effective marketing strategies are most likely consistent with all of the following EXCEPT ________.

Accepted Answer

A)   environmental opportunities
B)   long-term visions
C)   core competencies
D)   internal demandsE) A) and B)
F) A) and C)

Question 5

According to the text,marketing strategies should be ________.

Accepted Answer

A)   dynamic
B)   trendy
C)   creative
D)   staticE) A) and C)
F) A) and B)

Question 6

Which term refers to the coordinated means by which an organization pursues its goals and objectives?

Accepted Answer

A)   vision
B)   strategy
C)   mission
D)   code of ethicsE) All of the above
F) B) and C) B

Question 7

Which of the following tools would most likely be used when determining how a firm will serve customers and their needs?

Accepted Answer

A)   value chain analysis
B)   portfolio analysis
C)   pricing matrix
D)   client surveysE) A) and B)
F) B) and C)

Question 8

A marketing strategy primarily describes how a firm will ________.

Accepted Answer

A)   implement a mission statement
B)   structure the marketing mix
C)   identify core weaknesses
D)   compete in a marketE) A) and B)
F) All of the above

Question 9

What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?

Accepted Answer

A marketing strategy describes how to co...

Question 10

While developing a comprehensive marketing strategy,a firm needs to determine where it will conduct business.Which tool would be most useful?

Accepted Answer

A)   experience curve matrix
B)   product-market growth analysis
C)   SWOT analysis
D)   Porter's generic strategiesE) B) and C)
F) None of the above

Question 11

A product-market growth analysis helps determine the best geographic markets,so that a firm can create and sustain value for customers.

Accepted Answer

A) True 
 B)False

Question 12

"Where's the pain?" refers to ________,and "Where's the magic?" refers to ________.

Accepted Answer

A)   geographic markets; customer demands
B)   target segments; competitive advantages
C)   economies of scope; economies of scale
D)   core competencies; target marketsE) C) and D)
F) A) and B) B

Question 13

Which of the following serves as the center of IKEA's hexagon of strategy?

Accepted Answer

A)   economic model
B)   differentiation strategy
C)   vision statement
D)   core competenciesE) A) and B)
F) B) and C)

Question 14

A comprehensive marketing strategy should include a broad definition of the target market as well as a flexible time schedule for meeting various objectives.

Accepted Answer

A) True 
 B)False

Exam 16: Note : What Is a Marketing Strategy

The primary purpose of a business strategy is to ________.

Correct Answer
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A comprehensive marketing strategy should specify what needs the firm will meet in order to achieve ________.

Correct Answer
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C

The key to IKEA's success has been the firm's desire to alter its basic business strategy every few years to meet changing customer needs and trends.

Correct Answer
verified

Effective marketing strategies are most likely consistent with all of the following EXCEPT ________.

Correct Answer
verified

According to the text,marketing strategies should be ________.

Correct Answer
verified

Which term refers to the coordinated means by which an organization pursues its goals and objectives?

Correct Answer
verified
B

Which of the following tools would most likely be used when determining how a firm will serve customers and their needs?

Correct Answer
verified

A marketing strategy primarily describes how a firm will ________.

Correct Answer
verified

What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?

Correct Answer
verified
A marketing strategy describes how to co...
View Answer

While developing a comprehensive marketing strategy,a firm needs to determine where it will conduct business.Which tool would be most useful?

Correct Answer
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A product-market growth analysis helps determine the best geographic markets,so that a firm can create and sustain value for customers.

Correct Answer
verified

"Where's the pain?" refers to ,and "Where's the magic?" refers to .

Correct Answer
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B

Which of the following serves as the center of IKEA's hexagon of strategy?

Correct Answer
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A comprehensive marketing strategy should include a broad definition of the target market as well as a flexible time schedule for meeting various objectives.

Correct Answer
verified

Exam 16: Note : What Is a Marketing Strategy

The primary purpose of a business strategy is to ________.

Correct AnswerverifiedShow Answer

A comprehensive marketing strategy should specify what needs the firm will meet in order to achieve ________.

Correct AnswerverifiedC

The key to IKEA's success has been the firm's desire to alter its basic business strategy every few years to meet changing customer needs and trends.

Correct AnswerverifiedShow Answer

Effective marketing strategies are most likely consistent with all of the following EXCEPT ________.

Correct AnswerverifiedShow Answer

According to the text,marketing strategies should be ________.

Correct AnswerverifiedShow Answer

Which term refers to the coordinated means by which an organization pursues its goals and objectives?

Correct AnswerverifiedB

Which of the following tools would most likely be used when determining how a firm will serve customers and their needs?

Correct AnswerverifiedShow Answer

A marketing strategy primarily describes how a firm will ________.

Correct AnswerverifiedShow Answer

What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?

Correct AnswerverifiedA marketing strategy describes how to co...View AnswerShow Answer

While developing a comprehensive marketing strategy,a firm needs to determine where it will conduct business.Which tool would be most useful?

Correct AnswerverifiedShow Answer

A product-market growth analysis helps determine the best geographic markets,so that a firm can create and sustain value for customers.

Correct AnswerverifiedShow Answer

"Where's the pain?" refers to ________,and "Where's the magic?" refers to ________.

Correct AnswerverifiedB

Which of the following serves as the center of IKEA's hexagon of strategy?

Correct AnswerverifiedShow Answer

A comprehensive marketing strategy should include a broad definition of the target market as well as a flexible time schedule for meeting various objectives.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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C

Correct Answer
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Correct Answer
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Correct Answer
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B

Correct Answer
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Correct Answer
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Correct Answer
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A marketing strategy describes how to co...
View Answer

Correct Answer
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Correct Answer
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"Where's the pain?" refers to ,and "Where's the magic?" refers to .

Correct Answer
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B

Correct Answer
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Correct Answer
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