Unit 2 Module 1 - 3 Video Questions

Which of the following are primary activities in the value chain?

operations, outbound logistics, marketing and sales, inbound logistics, service

The value message of a company's products that includes the whole bundle of benefits the company promises to deliver, not just the benefits of the product itself, is called the

value proposition

A ________ articulates an organization's reason for existence and defines the unique purpose that sets it apart from competitors and identifies the scope of the company's operations, products, and markets.

mission statement

Which of the following is considered an objective?

to increase revenue by 15 to 20 percent in each of the next five years

Which of the following is most likely to be considered a goal rather than an objective?

to be the leader in one's field

Analysis that views SBUs and sometimes even product lines as a series of investments from which it expects maximization of returns is called:

Portfolio analysis

At a strategic level, a ----- is a comprehensive plan stating how the organization will achieve its mission and objectives.

Strategy

A organization pursues either a cost or differentiation advantage, but in a limited group of customers is ----- competitive strategy

focus or niche

The elements of the macro-level external environment within which the firm operates, its industry or competitive environment, and its internal environment are contained in a

situation analysis

Which of the following are the Internal factors that companies focus on during situation analysis?

firm structure & firm resource

JetBlue's highly publicized winter weather fiasco at JFK airport in 2007 prompted immediate changes in the way the company communicates with its customers. This is an example of which type of macro-level external environmental factor?

Natural

The most significant market zone in the Americas is the alliance of the United State, Canada, and Mexico and is called:

NAFTA

The regional market zone that was founded more than 50 years AGO BY SIX COUNTRIES and now includes 28 countries spanning all of Europe is called the

EU

Which of the following five types of information does global market research focus on?

a) Political and Legal

b) Specific market conditions

c) Culture, Societal trends

d) Business Environment

e) Economic

f) Domestic Operations

Political and Legal, Specific market conditions, Culture & Societal trends, Business Environment, Economic

When deciding to enter a foreign market, decision makers are particularly interested in knowing the size of the investment and ___

How long it will take to be profitable in the new market

In developing a global market strategy, the first decision is:

How to enter the market

The method for entering foreign markets that allows a company to expand participation in a market by creating enduring, nonequity relationships with another company, often a local company in that market, is called a/an:

Contractual agreement

When local partnerships are required by law, legal restrictions prohibit direct importing of the product, or the company's limited financial resources limit more active foreign participation, companies use:

Licensing

-------- is the market entry strategy with the greatest long-term implications.

Direct foreign investment

Which approach is an organizational structure that is based on the global functionality and appeal of the products and that enables companies to target similar products to customers around the world?

global product lines

Which organizational structure divides international markets by geography, building autonomous regional organizations that perform business functions in their geographic area?

geographic structures

Direct extension, adaptation, and invention are basic-------- options available to companies seeking global market expansion.

product

Pricing where the company assigns a price based on local market conditions with minimal consideration for the actual cost of putting the product into the market is called:

local market condition pricing