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Lesson 8 Quiz

The document contains true/false questions about strategy implementation and marketing concepts. Key points include: effective strategy implementation requires collecting customer feedback and managing resources; showing customers how products can improve their lives is an effective marketing strategy, especially in a weak economy; and having an effective management information system can differentiate successful firms.

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Lovenia M. Ferrer
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56 views2 pages

Lesson 8 Quiz

The document contains true/false questions about strategy implementation and marketing concepts. Key points include: effective strategy implementation requires collecting customer feedback and managing resources; showing customers how products can improve their lives is an effective marketing strategy, especially in a weak economy; and having an effective management information system can differentiate successful firms.

Uploaded by

Lovenia M. Ferrer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Less than 10 percent of strategies formulated are successfully implemented


- True
2. Firms should provide incentives to consumers to share their thoughts, opinions, and experiences on the company
Web site.
- True
3. Managers and employees who do not understand the business and are not committed to the business may attempt
to sabotage strategy implementation efforts in hopes that the organization will return to its old ways.
- True
4. The best way to sell in a weak economy is to “show customers how they can improve their lives” with your product
or service
- True
5. Information collection, retrieval, and storage can be used to create competitive advantages in ways such as cross-
selling to customers…
- True
6. Don’t just talk at consumers, work with them throughout the marketing process.
- True
7. Look for the hole or vacant niche is the best strategic opportunity might be an unserved segment which is one of the
best rule in market segment.
- False
8. The two basic sources of capital for an organization are debt and loans.
- False
9. What the customer believes is good service is paramount, not what the producer believes service should be.
- True
10. Nearly all financial institutions require at least one year of projected financial statements whenever a business seeks
capital
- False
11. Like inventory and human resources, information is now recognized as a valuable organization asset that can be
controlled and managed.
- True
12. A marketing issue of increasing concern to consumers todays is the extent to which companies can track individuals’
movements on the Internet and even be able to identify an individual by name and e-mail address.
- True
13. Underbudgeting can cause problems while overbudgeting is good.
- False
14. When an organization is experiencing financial difficulties, budgets are especially important in guiding strategy
implementation.
- True
15. Product positioning is a key to matching supply and demand, which is one of the thorniest problems in customer
service
- False
16. One of the rules of Product Positioning is do not serve two segments with the same strategy.
- True
17. Successful strategy implementation often requires additional capital
- True
18. A severe mistake is to assume the firm knows what customers want and expect.
- True
19. Having an effective management information system may be the most important factor in differentiating successful
from unsuccessful firms.
- True
20. If both technical progress and market growth are fast, MIS expertise should be obtained through acquisition of a
well-established firm in the industry
- False
21. An example of market segmentation by Geographic Location
- Region and Country
22. Refers to the various media channels through which advertising is done.
- Advertising Media
23. This divides people based on their values, attitudes, and interests…
- Psychographic Segmentation
24. It is a financial statement that summarizes the movement of cash and cash equivalents.
- Cash Flow Statement
25. This divides people based on their age, income, education level, and occupation…
- Demographic Segmentation
26. It can be defined as the subdividing of a market into distinct subsets of customers according to needs and buying
habits.
- Market Segmentation
27. This divides people based on their buying habits and brand loyalty…
- Behavioral Segmentation
28. It is a document that details how funds will be obtained and spent for a specified period of time.
- Financial Budget
29. Which among the choices is a New Principles of Marketing
- Don’t just talk at consumers—work with them throughout the marketing process
30. Which among the choices is not a combination of marketing mix variables?
- People, product, place
31. It is a central strategy-implementation technique because it allows an organization to examine the expected results
of various actions and approaches
- Projected Financial Statement Analysis
32. This refers to a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific
point in time…
- Balance Sheet
33. This entails developing schematic representations that reflect how your products or services compare to
competitors on dimensions most important to success in the industry.
- Product Positioning
34. Which among the choices is not an advertising media?
- Laboratory Manuals
35. The best way to sell in a weak economy is to “show customers how they can improve their lives” with your product
or service.
- Purpose-based Marketing
36. This is to show customers how they can improve their lives with your product or service and to build trust and an
emotional connection.
- Purpose-based Marketing
37. It is the most widely used technique for determining whether debt, stock, or a combination of debt and stock is the
best alternative for raising capital to implement strategies.
- EPS/EBIT Analysis
38. Evaluating this is a central to strategy implementation because integrative, intensive, and diversification strategies
are often implemented by acquiring other firms
- Worth of a business
39. It is a marketing strategy used to target products or services at people who live in, or shop at, a particular location.
- Geographic Segmentation

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