TechPark, a manufacturing company, was in the process of formulating a strategy in an attempt to improve the firm's competitive advantage. The management began by evaluating the resources available within the organization to better understand how the firm should compete. Eventually they decided to offer their products at a lower cost compared to that of their competitors. Identify the strategy used by the management of TechPark.
a.
Corporate-level strategy
b.
Transnational strategy
c.
Business-level strategy
d.
Global strategy
Answer: c
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Marketing Chapter 4
- For which type of products are concept tests thought to be less effective in predicting the success of a product?
- The objective of brainstorming is to ______.
- A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products is called ______.
- A source suggested to Rubbermaid the idea of the Sidekick, a litter-free lunch box. Rubbermaid could place some of its plastic containers inside a lunch box and sell the box as an alternative to plastic wrap and paper bags. The source saw this opportunity because of being closer to the consumers than the manufacturer was and, thus, more aware of customer needs. Which of the following was likely the source?
- What do programs like Google X do to promote innovative thinking among its employees?
- Which of the following statements describes a customer innovation center?
- When developing new product, which is true of a new-product development strategy?
- A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. The company changed its campaign to focus on dietary needs rather than just convenience, thus targeting a segment of consumers looking for healthy diet. This is an example of a ______.
- A furniture manufacturer with a reputation for making plain, lightweight foldable steel chairs decides to make cushioned chairs with printed upholstery. The new type of chair will be a ______.
- Samsung is best known for its smartphones, tablets, and televisions. Years ago when it decided to expand its business activities and operations into ship building and military hardware, it was gearing to offer ______.
- With ________, the researcher observes the effects or results of the behavior rather than the behavior itself.
- How many general ways for organizing observations are there?
- Which of the following is true of quantitative research?
- Which of the following best represents the disadvantages of conducting test markets as discussed by your authors?
- Which of the following best represents the criteria discussed by your authors to be used in selection of a test market city?
- Of the following, which is a potential disadvantage of using a simulated test market?
- Which of the following describes a simulated test market?
- Which of the following describes an electronic test market?
- Which of the following describes a controlled test market?
- Which of the following describes a standard test market?
- Which of the following is a potential use of test marketing?
- What type of experiment involves manipulating the independent variable and measuring the dependent variable in a natural setting?
- What type of experiment involves manipulating the independent variable and measuring the dependent variable in an artificial setting contrived to control extraneous variables?
- Which of the following is a type of experiment mentioned in your textbook?
- What type of experimental validity is concerned with the extent that the relationship observed between the independent and dependent variable during the experiment IS generalizable to the real world?