In the strategic marketing process, once you get results you go into the:
A. control phase
B. marketing plan
C. planning phase
D. marketing program
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Ben & Jerry had four market-product strategies to expand sales. They included (1) market penetration, (2) product development, (3) market development and:
A. current customer retention
B. defensive synergy
C. diversification
D. product simplification
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Aggregating prospective buyers into groups is called:
A. market categorization
B. market segmentation
C. modeling
D. BCG matrix analysis
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cohesive marketing mix consists of the product, promotion, price, and
A. personnel
B. production
C. advertising
D. communication
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One key to effective implementation is setting:
A. schedule of events
B. deadlines
C. milestones
D. good managers in motion
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When actual performance results are better than what the plan called for, managers should:
A. ignore it
B. sell more products
C. issue more stock options to employees
D. increase prices
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Which of the following is NOT a characteristic of strategic management that makes it different from other types of management?
A. It is interdisciplinary
B. It has an external focus
C. It has an internal focus
D. It concerns the present direction of the organization
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The basic activities of strategic management include:
A. offense, defense, and control
B. situation analysis, strategy formulation, implementation, and evaluation
C. development, control, and management
D. ethics, management, and practice
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An organization's strategies should be designed so that they incorporate:
A. opportunities and threats
B. resources and capabilities
C. only traditional values of past organizations
D. opportunities, threats, resources, and capabilities
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Situation analysis involves the process of:
A. designing and choosing appropriate organizational strategies
B. analyzing the current environment of the organization
C. analyzing the external environment only
D. evaluating the internal aspects of the organization
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Situation analysis allows the organization to examine:
A. external factors only
B. internal factors only
C. the organization's top management only
D. both external and internal factors
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Which of the following is an issue considered in developing corporate strategies?
A. What business(es) are we in?
B. What direction are we going?
C. What resources do we have to implement our strategies?
D. What businesses are we in and what to do with those businesses?
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Which of the following is NOT a major element of the strategic management process?
A. Formulating strategy
B. Implementing strategy
C. Evaluating strategy
D. Assigning administrative tasks
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Which of the following statements is NOT true regarding corporate strategies?
A. They are concerned with the broad and more long-term issues of the organization
B. They are concerned with how the organization is going to compete in a specific business or industry
C. They are concerned with the direction the organization is headed
D. They are concerned with the business(es) that the organization is in and the businesses they want to be in
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An example of a corporate strategy would involve the decision to:
A. increase the price of the Hummer
B. spin Taco Bell off from Pepsi
C. combine marketing functions in the Northeast and the Southeast
D. increase the advertising budget for Coca-Cola
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Which of the following management accounting systems places a very strong emphasis on incorporating data relating to its competitors in the preparation of management reports?
A. Activity based management
B. Flexible budgeting
C. Strategic management accounting
D. Sales variance analysis
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What term best describes the use of both financial and non-financial measures in assessing whether an entity has achieved its objectives?
A. Balanced scorecard
B. Benchmarking
C. Performance measurement
D. Target setting
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______ is any sharp disagreement or collision of interests and ideas.
A. Issues management
B. Conflict positioning
C. A conflict
D. A crisis
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Environmental scanning occurs in what phase of strategic conflict management?
A. Reactive
B. Proactive
C. Recovery
D. Strategic
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______ takes place in the recovery phase of strategic conflict management
A. Conflict positioning
B. Reputation management
C. Risk communication
D. Issues tracking
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