45. When using a cost leadership strategy, a firm would offer: a. a standard, no-frills product. b.

45. When using a cost leadership strategy,
a firm would offer:
a. a standard, no-frills product.
b. a highly-differentiated product.
c. a prestige product
d. an expensive product of superior design
and quality.

46. Management should choose an
organizational strategy that:
a. allows the organization to practice the
strategy of differentiation, rather than cost leadership.
b. emphasizes the use of digital media,
rather than traditional media, in the marketing of products.
c. bears consistency with the
organization’s mission and capitalizes on its distinctive competencies.
d. empowers the organization to grow
without creating new products or entering new markets.

47. Which of the following represents
the final phase of the strategic planning process?
a. Creating an organizational mission
b. Formulating an organizational portfolio plan
c. Setting organizational objectives
d. Creating organizational strategies

48. Which of the following
observations pertains to strategic business units?
a. They share the organizational mission statement of the larger
organization.
b. They have centralized management, no competitors, and little autonomy.
c. They are a number of organizations which have come together to achieve
some common goal.
d. They can be planned independently of the other businesses of the total
organization.

49. Biotex is an enterprise that is
composed of three parts. Its biotech section, which is working to develop crops
that are pest and disease-resistant, provides about half of its sales.
Pharmaceuticals from its G.D. Searle subsidiary contribute a third of its
revenues; and food products, dominated by the artificial sweetener NutraSweet,
make up less than 20 per cent of its total revenue. These three divisions are
Biotex’s _____.
a. strategic business units
b. buying centers
c. venture teams
d. cross-functional units

50. Biotex is an enterprise that is
composed of three parts. Its biotech section, which is working to develop crops
that are pest and disease-resistant, provides about half of its sales.
Pharmaceuticals from its G.D. Searle subsidiary contribute a third of its
revenues; and food products, dominated by the artificial sweetener NutraSweet,
make up less than 20 per cent of its total revenue. These three divisions under
Biotex would generally:
a. have no competitors.
b. lack the power to operate independently.
c. have centralized planning and management.
d. have their own distinct missions.

51.
_____ are methods used to determine how resources should be allocated
among the various SBUs.
a. Portfolio models
b. Matrix models
c. Variable models
d. Vector models

52. _____ is the step of the marketing
management process which involves analyzing the position of the marketing
division of the firm in terms of its past, present, and future situation.
a. Situation analysis
b. Vendor analysis
c. Post-hoc segmentation analysis
d. New product analysis

53. The cooperative environment
includes:
a. all firms and individuals who have a vested interest in accomplishing
the firm’s objectives.
b. primarily other firms in the industry that rival the organization for
both resources and sales.
c. the attitudes and reactions of the general public, social and business
critics.
d. protection against business competition and consumer rights.

54. Which of the following parties would
come under the cooperative environment of the firm?
a. A rival firm
b. A non-profit organization that the firm
donates funds to
c. A government that is imposing
restrictions on trade and commerce
d. A supplier who has been chosen for sole
sourcing

55. The _____ for a soft-drink
manufacturer would include other brands of soft-drinks, fruit juice, bottled
water, sports drinks, caffeine-free colas, and dairy beverages.
a. competitive environment
b. technological environment
c. cooperative environment
d. economic environment

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