Marketing of High Technology Products and Innovations 3rd Edition by Jakki J. Mohr -Test Bank
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Chapter 2: Strategic Market Planning in High-Tech Firms
Mohr, Sengupta, Slater (3/e, 2010)
- Which of the following are examples of firm resources that may be a source of competitive advantage?
- Distribution channels
- Market learning competency
- Brand names
- All of the above
Answer: E Page: 48 easy
2-2.______________ are the set of skills at which a company excels.
- Managerial experiences
- Innovative strategies
- Core competencies
Answer: C Page: 49 easy
2-3._______________ is the difference between the benefits that a customer realizes from using a product and the total life-cycle costs that the customer incurs in finding, acquiring, using, maintaining, and disposing of the product.
- Customer value
- Competitive advantage
- a and b above
Answer: A Page: 51 easy
- To be a source of competitive advantage, a resource must:
- provide superior benefits to customers.
- give the firm a cost advantage.
- be rare.
- be transparent.
- a and c above
Answer: E Page: 51 moderate
Note: Superior benefits are not sufficient. The resources must create value superiority.
- In ___________________ technology is a rapidly depreciating resource.
- Base-of-the-pyramid markets
- slow-cycle industries
- fast-cycle industries
- B-to-B markets
- B-to-C markets
Answer: C Page: 52 easy
- Common resources such as managerial talent are not generally:
- a source of competitive advantage.
- core competencies.
Answer: B Page: 52 easy
- Sustainability of competitive advantage requires
- core competencies.
- superior customer benefits.
- unique resources.
- difficult to imitate resources.
Answer: D Page: 53 moderate
- Imitation is made more difficult when the foundation for competitive advantage is
- based on complex organizational routines.
- obtainable in the market.
- based on a tangible asset.
Answer: B Page: 53 moderate
- Which of the following is not a key strategy question?
- Who are our target customers?
- What value do we offer them?
- How can we create and deliver that value effectively and efficiently?
- Will this strategy capture a dominant share of the market?
- All are key strategy questions.
Answer: D Page: 54 moderate
- Answering the “who are our customers?” question by focusing on current customers is referred to as
- marketing myopia.
- the tyranny of the served market.
- customer intimacy.
- bifocal vision.
- blue ocean strategy.
Answer: B Page: 55 easy
- The synergistic intersection of the three strategy decisions – which customers to serve; what value to offer customers (the company’s value proposition), and how to create and deliver that value – to achieve a position of sustainable, superior competitive advantage is
- the strategy sweet spot
- a core competency.
- difficult to imitate.
- The framework for the strategic market planning process.
- Assessed with the marketing dashboard.
Answer: A Page: 55 easy
- New market space is best described as
- markets that are new to the company.
- markets and products that are new to the company.
- customers who are underserved by current offerings in the market or previously unidentified market segments.
- a critical source of competitive advantage
- an opportunity that is best left to established companies.
Answer: C Page: 56 moderate
2-13 Base of the pyramid markets
- represent new market space for most high-tech firms.
- are generally unattractive.
- are characterized by high competitive intensity.
- have high profit margin potential.
- are relatively small in terms of dollar volume.
Answer: A Page: 56 moderate
2-14 This value proposition contrasts the advantages of the seller’s product with that of its competition.
- Superior customer value.
- All Benefits.
- Favorable Points of Difference.
- Product Leader
- Resonating Focus
Answer: C. Page: 58 moderate
2-15 Which of the strategic archetypes has a primary focus on developing and maintaining long-term customer relationships?
- Product Leader/Prospector
- Fast Follower/Analyzer
- Operationally Excellent/Low Cost Defender
- Customer Intimate/Differentiated Defender
- Both c and d.
Answer: D Page: 62 easy
2-16 The most successful Fast Follower/Analyzers target the
- innovator and early adopter segments.
- early adopter segment.
- early adopter and early majority segments.
- early and late majority segments.
- late majority and laggard segments.
Answer: C Page: 62 moderate
2-17 Which of the following is not a benefit to being a Product Leader?
- Can influence how attributes are valued by customers.
- Lower risk due to few competitors.
- Able to “skim off” early adopters.
- Can establish barriers to entry by followers.
- All are benefits.
Answer: B Page: 63 moderate
2-18. Which of the following is an advantage to being a market follower?
- Reputational effects
- Switching costs
- Opportunity for skimming
- Lower development costs
- Experience effects
Answer: D Page: 64 moderate
2-19 Which of the following are not ways that the Fast Follower/Analyzer can overcome the Product Leader’s advantage?
- Innovate superior products.
- Undercut the leader on prices.
- Be first-to-market.
- Out advertise/out distribute the leader, thereby beating it at its own game.
- Innovate strategies that change the rules of the game.
Answer: C Page: 64 easy
2-22. The most successful companies
- execute a dominant strategy but demonstrate characteristics of one or two supporting types.
- recognize that they can effectively execute only one archetype and pay little attention to developing competencies required by another archetype.
- focus on revenue growth even if it means sacrificing profitability.
- try to blend the best characteristics of the four strategic archetypes.
- pursue operational excellence because most buyers seek low cost and convenience above all other sources of customer value.
Answer: A Page: 66 moderate
- Strategy innovation is primarily concerned with:
- the strategic market planning process.
- bringing a unique perspective to customer value creation.
- developing innovative products.
- entering new markets.
- bringing new voices into the strategy formation process.
Answer: B Page: 67 moderate
2-24. The starting point in the strategic market planning process is:
- identification of opportunities.
- definition of mission and goals.
- identification of markets in which the firm will compete.
- definition of the profit dynamic.
- SWOT analysis.
Answer: B Page: 69 moderate
2-25 The most effective innovative firms
- have a product focus.
- make extensive use of formal procedures to insure conformity.
- utilize centralized decision making to generate more product concepts.
- are led by Transactional Leaders
- organize around customer groups.
Answer: E Page: 69 easy
2-26 A marketing dashboard
- is a collection of financial metrics.
- is a collection of non-financial metrics.
- should reflect leading and lagging indicators of the success of the firm’s marketing strategy.
- should have a very extensive set of indicators.
- Both b & c
Answer: C Page: 70 moderate
Chapter 4: Market Orientation and Cross-Functional (Marketing-R&D) Interaction, Mohr, Sengupta, Slater (3/e, 2010)
- In a market oriented firm,
- there is no consistently dominant function.
- marketing typically plays the lead role.
- radical innovation is the norm.
- engineering and R&D are typically in the back seat.
- being at the forefront of technology is vital.
Answer: A Page: 104 moderate
- Critical activities in market oriented firms include all of the following except
- gathering market intelligence.
- disseminating intelligence throughout the firm.
- coordinated decision making.
- bottoms-up decision making.
- all are critical activities.
Answer: D Page: 104 moderate
- A market orientation is important for firms competing in high-tech industries for all of the following reasons except:
- Market oriented behaviors are generally more important in highly dynamic markets.
- The behaviors implicit in a market orientation are a fertile source of ideas for innovation.
- Market oriented behaviors facilitate the commercialization of innovations.
- Pinpoints areas for cost reduction efforts.
- All of the above are important reasons for firms competing in high-tech industries to adopt a market orientation.
Answer: D Page: 105 easy
- Market- oriented firms generategather a wide array of intelligence about all except
- current and future customer needs.
- competitors’ capabilities and strategies.
- emerging technologies both inside and outside of the industry.
- cost-reduction practices.
- all are the focus of market intelligence generation efforts.
Answer: D Page: 106 easy
- Proactive market-oriented firms tend to
- focus on customers expressed needs or existing competitive threats.
- experience “marketing myopia.”
- develop and introduce incremental innovations.
- suffer from “the innovator’s dilemma.”
- focus on customers latent and future need
Answer: E Page: 107 easy.
- Responding to customers’ expressed needs is most likely to lead to
- sustainable competitive advantage.
- incremental innovations.
- discovery of new market segments.
- radical innovations.
- increased employee retention.
Answer: B Page: 107 easy
- Market driving firms may
- seek to redefine the structure of the market.
- introduce an innovative value proposition that enables the firm to reduce, or even avoid, competition.
- be quite risk tolerant.
- try to develop anticipatory intelligence.
- All of the above.
Answer: E Page: 110 easy
- Which of the following approaches is useful for gathering anticipatory intelligence?
- Working closely with lead users.
- Standard market research approaches.
- Purchasing market research reports.
- Conducting surveys of customer satisfaction.
- Both a and b above.
Answer: A Page: 110 moderate
4-9 A boundaryless organization is most often associated with
- market driving.
- a proactive market orientation.
- a responsive market orientation.
- intelligence integration.
- intelligence dissemination.
Answer: E Page: 110 moderate.
4-10. Responsiveness to market intelligence involves all of the following except
- selection of target markets.
- development of products/services that address customer needs.
- positioning products in a way that produces both customer satisfaction and customer loyalty.
- commitment to execution.
- providing feedback to customers.
Answer: E Page: 112 moderate
4-11 The type of knowledge that is most difficult for competitors to imitate is
- market knowledge.
- technical knowledge.
- explicit knowledge.
- tacit knowledge.
- often stored in databases.
Answer: D Page: 112 moderate.
4-12 Coordinated action is
- facilitated when one function, usually engineering, plays a dominant role in the organization.
- rarely hampered by organizational politics.
- key to successful execution of decisions.
- impeded by constructive conflict between different functions.
- both c and d above
Answer: C Page: 112 difficult
4-13 The scanning focus priority for Fast Followers (Analyzers) is on
- customer intelligence.
- competitor intelligence.
- technological intelligence.
- a and b above
- all of the above.
Answer: D Page: 116 moderate.
4-14 The organizational factor that research indicates has the greatest impact on creating a market orientation is
- a market-based reward system.
- top management advocacy.
- decentralized decision making.
- interfunctional coordination.
- informal communication processes.
Answer: A Page: 117 moderate
4-15. Firms that focus too narrowly on their established customers may be constrained in the strategies and technologies they choose to pursue. When this happens, they are said to suffer from:
- marketing myopia.
- core rigidities.
- tyranny of the served market.
- a competency trap.
- market misery.
Answer: C Page: 107 easy
- Team-based reward systems
- are most effective when all team members are rewarded equally.
- are most effective when team members are rewarded based on their position in the organization.
- should tie rewards to the completion of specific activities.
- should motivate organizational members to work cooperatively toward common goals.
- are de-motivators.
Answer: D Page: 120 moderate.
4-17. At Kodak, a marketing executive observed a lack of collaboration between marketing and R&D departments. An analysis of this communication gap would include:
- evaluation of spatial dynamics.
- evaluation of corporate culture.
- evaluation of communication frequency between departments.
- evaluation of formal and informal processes by which the departments communicate.
- all of the above
Answer: E Pages: 121-124 easy
4-18. Cooperation between marketing and R&D is most important in
- turbulent markets.
- stable markets.
- the early stage of a product development project.
- the early growth stage of the product life cycle.
- the maturity stage of the product life cycle.
Answer: C Page: 121 challenging
4-19. Greater R&D–marketing integration in technical activities is required for
- breakthrough innovations.
- incremental innovations.
- technology-oriented firms.
- market-oriented firms.
- all of the above
Answer: A Page: 121 moderate
4-20. Corporate culture in high tech firms
- is often an impediment to marketing-R&D collaboration.
- often favors engineering relative to marketing.
- is often shaped by executives who come from engineering.
- often manifests itself in engineering taking on many tasks traditionally thought of as marketing tasks.
- all of the above
Answer: E Page: 123 easy
4-21. The strategy of merging the interests of R&D and marketing is
Answer: B Page: 125 moderate
4-22. To gain credibility with engineers, marketers should
- ask a lot of questions.
- push marketing research results.
- clearly explain the value and process of marketing.
- develop more than a superficial understanding of products and technologies.
- all of the above
Answer: D Page: 125 moderate
4-23. Which of the following is not an effective strategy for increasing communication quality?
- Maximizing the frequency of interaction between marketing and R&D
- Use of formal channels of communication
- Developing clear organizational expectations about the exchange of information between functions
- Developing organizational goals that are superordinate to the goals of individual functions
- all are effective strategies
Answer: A Page: 125 challenging
4-24. Conflict between marketing and R&D
- should always be minimized.
- will lead to counterproductive relationships.
- is a sign of lack of respect.
- may reduce “groupthink”.
- is inevitable.
Answer: D Page: 126 moderate
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