Capstone 2

What makes market segmentation an important variable in strategy implementation

E All of the above

Strategy analysis and choice largely involves making ___ decisions based on ____ information

Subjective;obkective

A SWOT matrix is composed of four cells for the four types of strategies it creates

False

Effective strategy formulation can usually guarantee sucessful strategy implementation

False

Horizontal consistency is less important than vertical concistency in developing annual objectives, but it still contributes to improved objectives.

False

Implementing strategy affects all the functional areas of a business and divisional areas of a business

False

The SWOT matrix, if used appropriately, does not have any limitations.

False

The online community of customers is more expensive to reach than traditional focus groups and surveys

False

Which stage of the strategy formulation framework includes an IFE matrix and the Competitive Profile Matrix

Input

Why is market segmentation an important variable in the strategy-implementation process?

It directly affects marketing mix variables

Which of the following is a limitation associated with a SWOT matrix>

It is a static assesment time

which of the following is NOT one of the steps involved in constructing a SWOT matrix

List the firm's external weaknesses

Which two variables rank as marketings most important contributions to strategic management?

Market Segmentation and product positioning

How many cells are in a SWOT matrix

Nine

Which matrix is included in the decision stage of the strategy formulation framework?

Quantitative Strategic Planning Matrix

Which stage of the strategy-formulation framework involves the quantitative strategic planning matrix

Stage 3

Annual objectives are key components in the strategic-management process because they dictate how resources will be allocated

True

It is always easier to say you are going to do something than to actually do it

True

One of the steps of the SWOT matrix is to list the firm's key external opportunities

True

Seemingly minor ethical and questionable actions can catapult these days into huge public relations problems for companies as a result of the monumental online social and business communications

True

Strategy analysis and choice largely involves making subjective decisions based on objective information

True

Strengths-opportunities strategies are based on using a firm's internal strengths to take advantage of external opportunities

True

The SWOT matrix, the strategic position and action evaluation matrix, the boston consulting group matrix, the Internal External Matrix, and the Grand strategy matrix are included in stage two

True

The online community of customers increasingly mirrors the offline community but is much quicker, cheaper, and effective to reach than traditional focus groups and surveys

True

The purpose of matching key factors is to generate feasible alternative strategies

True

To objectively evaluate feasible alternative strategies identified in stage 1, the Quantitative Strategic PLanning Matrix uses input information derived from Stage 2

True

Undesirable conduct such as distorting the records can be a result of overemphasis on achieving objectives

True

Unlike strategy formulation, strategy implementation varies considerably among different types and sizes of organizations

True

Which strategies aim at imprving internal weaknesses by taking advantage of external opportunities

WO

It is vital that strategists always consider all feasible alternatives that could benefit the firm

False

Stage 2 in the strategy formulation framework involves the quantitative strategic planning matrix

False

The first stage of the strategy-formulation framework is the input stage, and it is directly followed by the decision stage

False

When completing the matching stage of the strategy-formulation framework, the SWOT matrix needs to be completed before the SPACE matrix

False

An organizations present strategies, objectives, vision, and mission, coupled with the eternal and internal audit information, provide a basis for

Generating and evaluating feasible alternative strategies

All of the following are true EXCEPT

IN 2015 the number of LinkedIn users was closer to the number of Facebook users than to the number of Twitter users

Which stage of the strategy formulation framework includes the IFE matrix

INput Stage

The match an organization makes between its internal resources and skills and the opportunities and risks created by its external factors can be defined as

Strategy

Matching which factors would allow factories to produce desirable levels without extra shifts, overtime, or subcontracting?

Supply and demand

Good intuitive judgment is always needed to determine appropriate weights and ratings in the input stage matrices

True

Considerable time and effort should be devoted to assuring objectives are well conceived because they represent the basis for

All of the above

Which of the following is a management issue central to strategy implementation?

All of the above

Name five strategic marketing issues or decisions

1. To use exclusive dealerships or multiple channels of distribution 2.To use heavy, light or no tv advertising vs online advertising 3.To limit or not the share of business done with a single customer 4.To be a price leader or follower 5.To offer a complete or limited warranty

Which word or phrase would be most suitable to use in written objective statements?

10 percent increase

Subdividing a market into distinct subsets of customers according to their needs and buying habits is known as

Market Segmentation

Which stage in the strategy-formulation framework focuses on generating feasible alternative strategies

Matching

Which variable would be considered part of the "product" element of the marketing mix?

Packaging

Which of the following is NOT a management issue central to strategy implementation

Performing an internal audit

Which of the following variables is not directly affected by market segmentation?

Process

Which section of the SWOT matrix involves matching internal strengths with external opportunities?

THE SO cell

Which of the following is not true about objectives?

They should use terms like "maximize", "minimize", and "as soon as possible"

All of the following are strategic marketing issues or decisions except?

To use operating leverage

A firm's annual objectives can be stated by business segment

True

Alternative strategies dont come out of the blue; they are derived from the firm's vision, mission, objectives, external audit, and internal audit

True

An example of a marketing decision is whether or not to limit the share of business done with a single customer

True

An organizations present strategies, objectives, vision, and mission, coupled with the external and internal audit information, provide a basis for generating and evaluating feasible alternative strategies

True

Which strateges are defensive tactics directed at reducing internal weaknesses and external threats

WT