All of the following are strategies market leaders can utilize to remain competitive EXCEPT

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What are market leader strategies?
Which of the following growth strategies employs the existing marketing mix and focuses the firms efforts on existing customers?
In which type of diversification strategy does a firm enter into an entirely new business?
What are the three major phases of the marketing plan select all that apply?

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Question	Answer
Which of the following is not a typical way that a company would duplicate a competitive advantage	Carrying large product inventories
A business strategy achieves a specific set of goals which include	Attracting new customers, developing new products or services
Competitive intelligence is the process of gathering information about the competitive environment, including	Competitors plans
What is a competitive advantage	A feature of a product or service on which customers place a greater value than they do on similar offerings from competitors.
All of the following are common tools used in the industry to analyze and develop competitive advantages, except:	Competitive analysis model
The process of gathering information about the competitive environment, including competitors' plans, activities, and products, to improve a company's ability to succeed is the definition of	Competitive intelligence
Michael Porter defined the Five Forces Model and the potential pressures that can hurt sales. Which of the following is not one of the potential pressures that can hurt sales?	Suppliers can drive down profits by charging more for supplies
What are costs that make customers reluctant to switch to another product or service?	Switching Costs
What includes all parties involved, directly or indirectly, in obtaining raw materials or a product?	Supply Chain
IN the center of Porter's Five Forces model is competition. What of the below represents the four outer boxes?	Buyer power, supplier power, threat of new entrants, and threat of substitute products or services
Porter identified three generic strategies that a business could follow after identifying a market it wanted to enter. Which of the following is not included as one of Porter's three generic strategies?	Supplier cost differentiation
When analyzing Porter's three generic strategies for entering a market, if you have a focused strategy what market should you enter?	A niche market
Broad differentiation, broad leadership, and _____________ create the three generic strategies identified by Porter.	Focused strategy
If a business is following a focused strategy then its competitive scope is	Narrow market
Which of the below represents procurement as part of the support value activities in a value chain analysis	Purchase inputs such as raw materials, resources, equipment, and supplies
What is a standardized set of activities that accomplishes a specific task?	Business process
Which of the following analyzes a company's business processes and is useful for determining how to create the greatest possible value for customers?	value chain analysis
The foal of value chain analysis is to identify processes in which the firm can add value for the customer and create a competitive advantage for itself, with a _____________________ or _________________	cost advantage, product differentiation
A ___________________ is the confirmation or validation of an event or object	FACT
The core drivers of the information age are data, knowledge, business intelligence and ________________?	information
Porter has identified three __________________ business strategies for entering a new market: 1. broad cost leadership, 2. broad differentiation, 3. focused strategy	generic
Focused strategies concentrate on either cost leadership or ______________________	Differentiation
Which of the following is not a type of organizational information system?	analysis processing system
Which of the below is an important challenge facing managers	All of the above
What must managers be able to do to compete in today's global marketplace?	All of the above
When evaluating the six-step decision making process, what occurs during the solution implementation step?	the process will begin again if the decisions made were incorrect
Which of the below represents the structure of a typical organization	pyramid
which of the below represents the three different levels of a company pyramid from the top to the bottom?	strategic-managerial-operational
Data collection, solution generation, and solution implementation are all concepts associated with	the six step decision making process
CSF's and KPI's are two core metrics used to evaluate results and measure the progress of a project for a business. Which of the below represents the acronyms for CSF and KPI?	Critical success factors and key performatnce indicators
What are the measurements that evaluate results to determine whether a project is meeting its goals	metrics
What type of measurement is using market share as a KPI?	External Measurement
Which of the below represents an internal KPI that indicates the earning power of a project?	Return on investment
According to Peter Drucker, what are managers who do things right addressing?	Efficiency
According to Peter Drucker, what are managers who do the right things addressing?	Effectiveness
Which of the following are four common types of effectiveness MIS metrics?	usability, customer satisfaction, conversion rates, and financial
What is the process of continuously measuring system results, comparing those results to optimal system performance, and identifying steps and procedures to imprve system performance?	Benchmarking
What is a drill-down capability?	Enables users to get details, and details of details, of information
What is slice and dice capability?	enables users to get details, and details of details, of information
What compiles information from multiple sources and tailors it to meet user needs?	Digital Dashboard
What is a simplified representation or abstraction of reality	Model
what are the three primary types of management information systems available to support decision making across the company levels?	transaction processing systems, decision support systems, executive information systems.
Which of the below represent the four main DSS analysis techniques outlines in the chapter?	What if analysis, sensitivity analysis, goal seeking analysis, optimization analysis
Executives of a company deal less with details of the operational activities and deal more with the higher meaningful aggregations of information or "coarser" information. What refers to the level of detail in the model?	Granularity
How does DSS typically differ from EIS?	EIS requires data from external sources to support unstructured decisions where a DSS typically uses internal sources to suport semistructured decisions
__________________ focuses on the extent to which an organization is using its resources in an optimal way	Efficiency

What are market leader strategies?

The three general strategies for market leadership are: Develop the total market demand. Expanding market share. Protecting market share.

Which of the following growth strategies employs the existing marketing mix and focuses the firms efforts on existing customers?

A market development strategy employs the existing marketing offering to reach new market segments, whether domestic or international. A market penetration strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

In which type of diversification strategy does a firm enter into an entirely new business?

Of the three types of diversification techniques, conglomerate diversification is the riskiest strategy. Conglomerate diversification requires the company to enter a new market and sell products or services to a new consumer base.

What are the three major phases of the marketing plan select all that apply?

Through some business activities over a long period of time, and when it outperforms competition. The three major phases of the marketing plan are: Planning, implementation, and control.

All of the following are strategies market leaders can utilize to remain competitive EXCEPT

Blech

What are market leader strategies?

Which of the following growth strategies employs the existing marketing mix and focuses the firms efforts on existing customers?

In which type of diversification strategy does a firm enter into an entirely new business?

What are the three major phases of the marketing plan select all that apply?

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