51. Which strategy in the Ansoff’s product-market growth matrix combines new markets and new products?
a. market development
b. product development
c. market penetration
d. diversify
52. Which strategy in the Ansoff’s product-market growth matrix is the riskiest?
a. market penetration
b. product development
c. market development
d. diversification
53. Because ABC brand has a small share in a market that is not growing, it is classified as a
a. dog.
b. star.
c. cash cow.
54. ABC Company has produced the XYZ brand. Because it has a relatively large share in a growing market, it
is best classified as a
a. cash cow.
b. star.
c. question mark.
d. dog.
55. Because BCD brand has a strong market share in a non-growth industry, it is best classified as a
a. star.
b. dog.
c. cash cow.
d. question mark.
56. Because Brand X has a low market share in a high growth industry, it is classified as a
a. question mark.
b. star.
c. cash cow.
d. dog.
57. All of the following may be considered part of the class known as “question marks” EXCEPT
a. products in development.
b. products entering a different market.
c. new technologies.
d. products with a small share in a non-growing market.
58. Karen is working on classifying all her company’s products in terms of whether they have strong or weak
market share and whether this share is in a slow or growing market. What type of strategic framework is she
using?
a. Ansoff’s product-market growth matrix
b. BCG matrix
c. General Electric model
59. Like most companies, ABC wants to optimize the number of its
a. stars.
b. cash cows.
c. dogs.
d. question marks.
60. Aliya is the marketing manager at JumpyInk. The strategic tool JumpyInk uses forces her to make
judgments about the company’s performance based on market attractiveness and business strength. Which tool
does Aliya use?
a. Ansoff’s product-market growth matrix
b. BCG matrix
c. General Electric model
d. Porter strategies
61. The General Electric model uses the external element of _________ and the internal element of
__________.
a. market risk, business flexibility
b. market flexibility, business risk
c. market strength, business attractiveness
d. market attractiveness, business strength
62. The dimensions used in the General Electric model are analogous to elements used in
a. SWOT analysis.
b. Porter’s strategy.
c. the BCG matrix.
d. Ansoff’s product-market growth matrix.
63. According to Porter, __________ refers to producing goods and services more efficiently than the
competition.
a. cost leadership
b. differentiation
d. excellence
64. According to Porter, __________ is an attempt to distinguish one’s products as unique in the industry.
a. cost leadership
b. differentiation
c. focus
d. excellence
65. A company whose mantra is, “We do one thing very well” is probably pursuing which of the following
strategies?
a. cost leadership
b. differentiation
c. focus
d. price leadership
66. A company whose mantra is “We are efficient” is probably pursuing which of the following strategies?
a. cost leadership
b. differentiation
c. focus
d. product excellence
67. Which of the following is NOT one of the Treacy and Wiersema strategies?
a. cost leadership
b. operational excellence
c. product leadership
d. customer intimacy
68. A package delivery company or a cell phone company wouldn’t go far if it could not deliver products
smoothly and reliably. This means that __________ is necessary for these industries.
a. operational excellence
b. product leadership
c. customer intimacy
69. When high-tech and electronics companies churn out new products constantly, it demonstrates that they are
competing for
a. operational excellence.
b. product leadership.
c. customer intimacy.
d. cost excellence.
70. The firm Patrick started nearly a decade ago is commonly referred to as a market leader. Upon reflecting on
the leadership status of his company, Patrick considered the qualities that could eventually bring a firm to a
leading position in the marketplace. Which of the following is likely NOT a reason in Patrick’s mind for a
company being classified as a “leader”?
a. Sometimes a company is said to be the leader because it has the largest market share.
b. Sometimes a company is said to be a leader because it was first to market.
c. Sometimes a company is said to be a leader because it is a consistent and profitable follower.
d. Sometimes a company is known for being innovative or quick to improve some other company’s ideas.
71. It is not unusual for a company to be more ____________ in its youth and to age toward ____________
when it has market share, sales, and customers to protect.
a. stable, instability
b. of a follower, leadership
c. aggressive, conservatism
d. passive, liberalism
72. Which is NOT one of the four classes of goals?
a. focus on making money
b. pleasing customers
c. being a leader
d. repositioning ourselves in the market space
73. Imagine your boss wants you to investigate ways your company might be able enhance customer
satisfaction, create an attractive loyalty program, and reward your customers. Most likely, your company’s
a. delight customers.
b. make more money.
c. enhance product offerings.
d. redefine its position.
74. Think about the following questions: What channels do our target customers find most desirable? Do we
need to continue offering and managing multichannel touch points? Can we move some of our customer
segments to self-service or lower cost channel interactions? Would it make sense to off load and outsource
some of our business functions to our current partners? Would they be capable of stepping in, or must we seek
new partners? If a company is evaluating questions/topics such as these, with which of the goals listed below is
the company most likely concerned?
a. delighting customers
b. making more money
c. enhancing product offerings
d. redefining its position
75. Bill advises Mary that there are essentially three strategies to achieving goals. Assuming Bill is correct, how
would he describe these three strategies?
a. do nothing, do nothing different from status quo, do something different
b. segment, target, position
c. customer satisfaction, customer loyalty, customer retention
d. be the leader, be a quick-follower, be a follower
76. Company ABC has a mature brand in a stable market, so managers maintain business as usual—same price,
same marketing support, etc. What strategy are they using?
a. doing nothing
b. doing nothing differently
c. doing something different
d. doing everything differently
77. What does ROM stand for?
a. revenue or money
b. reflux of markets
c. return on marketing
d. respect of materials
78. Kenneth is convinced that many indicators of his company’s success exist, but is unsure of how to critically
evaluate and link these factors. Kenneth should consider establishing a __________ to gauge his company’s
performance.
a. strategy
b. dashboard
c. scoreboard
d. metrics-based report
79. Which of the following is an old, traditional management adage?
a. Leadership above management.
b. Measure twice, manage once.
c. You can only manage one thing at a time.
d. You can’t manage what you don’t measure.
80. Which of the following is NOT true about a company dashboard?
a. They can take any shape.
b. If a gauge is in the center, the company is in trouble.
c. They can include financial information.
d. They can include HR information.
81. What should a company consider if it is thinking of changing prices?
82. Discuss various ways to decrease costs.
83. Explain the four strategies within Ansoff’s product-market growth matrix.
84. List and explain the four classes of a market share.
85. Explain the difference in a company’s approach to “stars” and “dogs.”
86. Explain the General Electric model.
87. Describe the classification of strategies according to Porter, and give examples of each.
88. Explain the Treacy and Wiersema strategies.
89. Companies may be referred to as leaders and followers. Explain three ways companies can become leaders.
90. Once a company has decided to “do something different” (rather than “do nothing” or “do nothing
differently”), what kinds of changes can it make?