Chapter 2 Self-test MCQs

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. A good strategic plan should take into account which of the following markets?

Local country market correct incorrect

International markets correct incorrect

Regional market correct incorrect

Local and international markets together correct incorrect

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. Which of the following steps is not part of the strategic marketing management (SMM) process?

Strategic (position) analysis correct incorrect

Strategic choices correct incorrect

Strategic planning correct incorrect

Strategic implementation correct incorrect

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. The process of collecting information about the forces and trends in the environment is called:

Environmental analysis correct incorrect

Environmental scanning correct incorrect

External strategic analysis correct incorrect

External strategic scanning correct incorrect

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. Which PESTLE factor focuses on the level of industrial and government R&D expenditure and product life cycles?

Political correct incorrect

Environmental correct incorrect

Social correct incorrect

Technological correct incorrect

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. A scenario quadrant can be created with the certainty and importance scores in PESTLE analysis. Which of the below certainty and importance scores should not be on the scenario quadrant?

Certainty: 4, Importance: 3 correct incorrect

Certainty: 4, Importance: 5 correct incorrect

Certainty: 1, Importance: 4 correct incorrect

Certainty: 2, Importance: 5 correct incorrect

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. A strategist should analyse a market by rating each of Porter's Five forces as high, medium, or low in strength. Which of the below statement is not correct for the sportswear industry in the UK, according to the five forces analysis done in this chapter?

Competition among existing rivals is high as key players such as Adidas, Nike, Puma, Reebok, and Under Armour compete closely and strongly in the market. correct incorrect

The threat of new entrants might be seen as low since the UK market has reached the maturity stage and sales growth is not as high as it used to be. correct incorrect

The threat of substitutes could also be low because there are no obvious substitutes for sportswear products. correct incorrect

The bargaining power of suppliers might be rated high since it is hard to find quality materials for these large multinational brands. correct incorrect

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. Which type of competitor might react to certain types of assault and not others?

The laid-back competitor correct incorrect

The selective competitor correct incorrect

The tiger competitor correct incorrect

The stochastic competitor correct incorrect

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. There are several approaches to internal analysis. A firm can select any approach that is suitable for them. Which of the following cannot be listed as one of the approaches to internal analysis?

Resource-based approach correct incorrect

Internal scanning approach correct incorrect

Value chain approach correct incorrect

Performance analysis approach correct incorrect

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. Which strategic tool is used for illustrating the alternative ways in which an organization can use its strengths to capitalize on opportunities or to minimize threats and invest in available opportunities to overcome its weaknesses?

SWOT matrix correct incorrect

Environmental impact matrix correct incorrect

Strategic capability profile matrix correct incorrect

SWOT (TOWS) matrix correct incorrect

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. According to McAfee and Brynjolfsson (2012), there are five challenging areas for management in transition to using big data. Which of the below items is not part of the challenges mentioned in the study?

Financial cost correct incorrect

Leadership correct incorrect

Decision-making correct incorrect

Company culture correct incorrect