42. (p. 8) According to Mintzberg, the adaptive mode refers to

A. Strategic formality associated with the large firms that operate under a comprehensive, formal planning system

B. Strategic formality associated with medium-sized firms that emphasize the incremental modification of existing competitive approaches

C. Strategic formality associated with global firms that emphasize cultural value systems

D. Informal, intuitive and limited approach to strategic management with owner-manager of smaller firms



Difficulty: Medium

Learning Objective: 4


43. (p. 8) Which of these is NOT a mode of formality identified by Mintzberg?

A. Adaptive

B. Planning

C. Functional

D. Entrepreneurial



Difficulty: Easy

Learning Objective: 4


44. (p. 9) The ideal strategic management team includes decision makers from

A. All three company levels (corporate, business and functional)

B. Just the functional level since they are closest to the customers

C. Just the corporate and business levels given that they focus on doing the right thing

D. Just the top management since they understand the big picture



Difficulty: Medium

Learning Objective: 4




45. (p. 8) Managers at the _____ level typically have principal responsibilities for developing environmental analysis and forecasting, establishing business objectives and developing business plans prepared by staff groups.

A. Corporate

B. Functional

C. Operational

D. Business



Difficulty: Medium

Learning Objective: 4


46. (p. 9) When the dominance of the CEO approaches autocracy, the effectiveness of the form’s strategic planning and management processes are likely to:

A. Enhance strategic planning but diminish its processes

B. Be greatly enhanced

C. Have no effect

D. Be diminished



Difficulty: Medium

Learning Objective: 5


47. (p. 11) Which of these is NOT true about the behavioral effect of strategic management?

A. Strategy formulation activities enhance the firm’s ability to prevent problems

B. Resistance to change is reduced

C. Gaps and overlaps in activities among individuals and groups are increased to ensure the checks and balance

D. The employee involvement is strategy formulation improves their understanding of the productivity reward relationship in every strategy plan



Difficulty: Hard

Learning Objective: 5




48. (p. 11) Managers must be trained to guard against all of the following types of unintended negative consequences of involvement in strategy formulation EXCEPT

A. Managers must be trained to minimize the negative impact on operational responsibilities by scheduling their duties to allow the necessary time for strategic activities

B. Managers must be trained to limit their promises to performance that the decision makers and their subordinates can deliver

C. Managers must be trained to anticipate and respond to the disappointment of participating subordinates over unattained expectations

D. Managers must be trained to disregard the productivity-reward relationship since strategy implementation makes it invalid



Difficulty: Hard

Learning Objective: 5


49. (p. 11) Which of the following is a major function of the strategic management model?

A. It helps make profits for the firm

B. It helps in identifying key issues faced by the firm

C. It helps in deciding which products to sell

D. It depicts the sequence and relationships of the major components of the strategic management process



Difficulty: Medium

Learning Objective: 5


50. (p. 13) Social responsibility is a critical consideration for a company’s strategic decision makers since

A. Stockholders demand it

B. The mission statement must express how the company intends to contribute to the societies that sustain it

C. It increases a company’s profits

D. It helps make decisions



Difficulty: Medium

Learning Objective: 5




51. (p. 13) Analysis of the quantity and quality of the company’s financial, human and physical resources is a part of

A. Internal analysis

B. Mission statement

C. External environment analysis

D. Corporate goals



Difficulty: Easy

Learning Objective: 5


52. (p. 13) The external environment consists of:

A. The operating environment

B. Managers

C. Employees

D. Owners



Difficulty: Easy

Learning Objective: 5


53. (p. 13) Which one of the following is NOT an interactive segment of a firm’s external environment?

A. Functional

B. Remote

C. Industry

D. Operating



Difficulty: Medium

Learning Objective: 5




54. (p. 12) Description of the company’s product, market and technological areas of emphasis is contained in the

A. Assessment of the external environment

B. Company profile

C. Company mission

D. Interactive opportunity analysis



Difficulty: Easy

Learning Objective: 5


55. (p. 13) The results that an organization seeks over a multiyear period are its

A. Generic strategies

B. Grand strategies

C. Mission statements

D. Long-term objectives



Difficulty: Easy

Learning Objective: 5


56. (p. 13) The doubling of EPS within 5 years with increases in each intervening year is called a(n):

A. Long-term goal

B. Long-term objective

C. Short-term goal

D. Short-term objective



Difficulty: Hard

Learning Objective: 5


57. (p. 13-14) The difference between long-term and short-term objectives is principally:

A. Greater attainability

B. Greater flexibility

C. Greater measurability

D. Greater specificity



Difficulty: Hard

Learning Objective: 5




58. (p. 14) Grand strategies include:

A. Market turnaround

B. Vertical diversification

C. Conglomerate integration

D. Concentric diversification



Difficulty: Medium

Learning Objective: 5


59. (p. 14) Which of the following is an example of a grand strategy?

A. Decentralization

B. Policy making

C. Conglomerate integration

D. Innovation



Difficulty: Hard

Learning Objective: 5


60. (p. 14) Long-term objectives are principally attained through:

A. Annual goals

B. Functional strategies

C. Short-term goals

D. Grand strategy



Difficulty: Hard

Learning Objective: 5


61. (p. 14) The minimum equity position required for all new McDonald’s franchises is an example of:

A. A goal

B. A procedure

C. A policy

D. An objective



Difficulty: Medium

Learning Objective: 5




62. (p. 14) The general plan of major actions through which a firm intends to achieve is long-term objectives is called its:

A. Corporate plan

B. Long-term goal

C. Grand strategy

D. Mission



Difficulty: Easy

Learning Objective: 5


63. (p. 14) Broad, precedent-setting decisions that guide or substitute for repetitive or time-sensitive managerial decision making are called

A. Goals

B. Strategies

C. Objectives

D. Policies



Difficulty: Easy

Learning Objective: 5


64. (p. 13) Which of the following is a generic strategy option?

A. Narrow margins

B. Diversification

C. Differentiation

D. Retrenchment



Difficulty: Medium

Learning Objective: 5


65. (p. 14) Horizontal integration is an example of a

A. Generic strategy

B. Grand strategy

C. Functional level strategy

D. SBU strategy



Difficulty: Hard

Learning Objective: 5




66. (p. 14) Specific actions that need to be undertaken to achieve short-term objectives, usually by functional areas, refers to

A. Policies

B. Formality

C. Tactics

D. Process



Difficulty: Easy

Learning Objective: 5


67. (p. 14) Which of these refers to short-term, narrow scoped plans that detail “means” or activities that a company will use to achieve short-term projects?

A. Policies

B. Formality

C. Vision

D. Functional tactics



Difficulty: Easy

Learning Objective: 5


68. (p. 15) _____ is a critical stage in strategy implementation wherein managers attempt to recast their organization.

A. Continuous improvement

B. Reengineering

C. Strategic control

D. Strategy formulation



Difficulty: Medium

Learning Objective: 5




69. (p. 15) _____ is concerned with tracking a strategy as it is being implemented, detecting problems or changes in its underlying premises and making necessary adjustments.

A. Restructuring strategy

B. Strategic control

C. Internal analysis

D. Functional tactics



Difficulty: Easy

Learning Objective: 5


70. (p. 15) Which of these is a form of strategic control in which managers are encouraged to be proactive in improving all operations of the firm?

A. Continuous improvement

B. Adaptive mode

C. Functional tactics

D. Planning mode



Difficulty: Easy

Learning Objective: 5


71. (p. 16) A flow of information through interrelated stages of analysis toward achievement of an aim is:

A. A process

B. A procedure

C. A policy

D. A system



Difficulty: Easy

Learning Objective: 5




72. (p. 16) Influential individuals and groups that are vitally interested in the actions of the business are called

A. Stockholders

B. Stakeholders

C. Strategists

D. Customers



Difficulty: Easy

Learning Objective: 5


73. (p. 16) Strategic formulation and implementation of a plan are:

A. Sequential

B. Simultaneous

C. Random

D. Reversible



Difficulty: Medium

Learning Objective: 5


74. (p. 16) Strategic management processes need which of the following to enhance future decision making?

A. Testing

B. Feedback

C. Discontinuity

D. Projecting



Difficulty: Hard

Learning Objective: 5




75. (p. 17) The strategy management process is:

A. Stationary

B. Dynamic

C. Static

D. Radical


1.In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.






2.The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins.







3.A ________ consists of a group of customers who share a similar set of needs and wants. target group slice segment level


4.A ________ consists of two parts: a naked solution and discretionary options.

a.differentiated market offering

b.flexible market offering

c.rigid market offering

d.vertical market offering

e.horizontal market offering



5.If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern.







6.Procter & Gamble has many soap brands. One reason for this is that soap users tend to group together in terms of preferences such as bleaching action, softness, stain removal, et cetera. Which of the following preferences pattern would most likely apply to P&G’s method of response to market needs?

a.Homogeneous preferences

b.Diffused preferences

c.Clustered preferences

d.Psychological preferences

e.Cultural preferences


7.Marketers usually identify niches by ________.

a.dividing a segment into subsegments

b.conducting VALS tests

c.allowing consumers to gravitate toward product brands

d.examining the demographics section of The Handbook of Marketing

e.producing products that can be used in a variety of ways


8.A niche is characterized as being all of the following EXCEPT that ________.

a.the customers in the niche have a distinct set of needs

b.the customers will pay a premium to the firm that satisfies their needs

c.the niche is not likely to attract other competitors

d.the customers generally have smaller amounts of income

e.the nicher gains certain economies through specialization


9.Those who favor localized marketing see national advertising as wasteful because ________. gets too up close and personal with consumers drives up manufacturing and marketing costs by reducing economies of scale magnifies logistical problems fails to address local needs

e.all of the above


10.________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product service offering of their choice.


b.Viral marketing

c.Virtual marketing




11.All of the following are disadvantages of customerization EXCEPT that ________. requires more prior information about the customer than most customers are willing to share is difficult to implement for complex products can raise the cost of goods by more than the customer is willing to pay

d.some customers don’t know what they want until they see the actual product

e.the product may be hard to repair and have little sales value


12.Regardless of the type of segmentation scheme used, the key is adjusting the marketing program to recognize ________.

a.the level of disposable income earned by the target group

b.customer differences

c.the cost–benefit relationship of narrowing the target market

d.customer similarities

e.saturated markets


13.If a marketer decides to segment a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.




d.cultural class


14.When segmenting on the basis of family life cycle, all of the following are segment categories EXCEPT ________.

a.young, single

b.male, female

c.young, married

d.older, married, no children under 18

e.young, married, youngest child 6 or over


15.If a marketing manager segments the market into culture-oriented, sports-oriented, or outdoor-oriented groups, he or she is segmenting on the basis of ________.


b.behavioral occasions

c.user status

d.psychographic lifestyle

e.readiness stage


16.If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.

a.user status

b.usage rate

c.buyer-readiness stage




17.John and May have just divorced. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

a.Life stage


c.Age segment

d.User segment

e.Occasion segment


18.Men and women tend to have different attitudinal and behavioral orientations, based partly on genetic makeup and partly on ________.







19.________ is the science of using psychology and demographics to better understand consumers.





e.Social psychology


20.According to the VALS segmentation system, ________ are successful, sophisticated, active, “take-charge” people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.







21.Kim is a young professional who enjoys snowboarding and going to rock concerts with her friends.  According to the VALS eight-part typology segmentation system, Kim is best described as a(n) ________.







22.According to the VALS segmentation system, ________ are considered to be elderly, passive people who are concerned about change and are loyal to their favorite brands.







23.A housewife requests a new treadmill for her birthday.  With respect to consumer decision roles, which role is the housewife currently playing?






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