quiz 2

A company may go about improving the performance of its products or services by increasing sales and/or by improving ____________.

• operation

• .

  profitability

• Market share

• staff’s morale

• culture

At the __________________ level a marketing organization capable of putting the strategy into practice must be created. The design of the marketing organization can be crucial to the success of the strategy. It is also concerned with establishing a mix of products, price, promotion and distribution that can convey both the positioning and the products and services themselves to the target market. Finally, methods of control must be designed to ensure that the strategy implementation is successful.

• resources

• Competitive positioning

• 
  core strategy

• Implementation

• Mission

The second approach to creating a competitive advantage is ______________________, i.e. creating something that is seen as unique in the market. Under this strategy company strengths and skills are used to differentiate the company’s offerings from those of its competitors along some criteria that are valued by consumers

• distinctive

• market leader

• cost leadership

• niche

• differentiation

One of the disadvantages of differentiation is that If it is not based on distinctive marketing _____________ it is possible that it will be imitated by competitors.One of the disadvantages of differentiation is that If it is not based on distinctive marketing _____________ it is possible that it will be imitated by competitors.

• resources

• value

• 
  skills

• assets

• capabilities

One of the disadvantages of cost leadership is that It is very risky where there is a high degree of differentiation between competitive offerings. Differentiation creates _________ for purchase, which cost leadership does not.

• time-saving

• pleasure

• reasons

• convenience

• ease

At this level, market targets (both customers and competitors) are selected and/or identified. At the same time the company’s differential advantage, or competitive edge, in serving the customer targets better than the competition is defined. Taken together the identification of targets and the definition of differential advantage constitute the creation of the __________________ of the organization and its offerings.

• Implementation

• Competitive positioning

• Strategic fit

• core strategy

• Mission

The concept of ______________________ focuses attention on the fact that there are only limited periods during which the fit between the requirements of the market and the capabilities of the firm is at an optimum.

• Golden periods

• Strategic opportunities

• 
  Strategic fit

• Temporal advantages

• Strategic windows

______________________ vests responsibility for all the marketing activities of a particular product in one product manager. In diversified companies with many different products the system has the major advantage of coordinating under one individual the entire mix of marketing activities, and hence making it more likely that they will all pull in the same direction.

• Category management

• Market organization

• Brand sales Management

• Product (or brand) management

• Functional organization

A differential advantage can be created out of any of the company’s strengths, or distinctive competencies relative to the competition. The essential factors in choosing how to create the advantage are that it must be on a basis of _____________________ (e.g. lower prices, superior quality and better service) and should be using a skill of the company that competitors will find hard to copy.

• Company’s resources

• Company’s strengths

• Competitor’s disadvantage

• Company’s assets

• value to the customer

For any strategy to be effective it needs to be well tuned both to the needs and requirements of customers (the market conditions in which it is implemented) and to the ______________ and capabilities of the organization seeking to implement it.

• Capital

• Talents

• Resources

• Knowledge

• Personnel