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