Business Management and Information Systems – Page 7

BMIS – L1 – SA – Q7.3 – Strategic direction

Type of business collaboration for patent rights sale

Question

Company X manufactures a product for which it has world-wide patent rights but sells it only in its own country. It sells to a foreign company, Company Y, the right to make and sell the product in its own country. This form of business collaboration is:

A a licensing agreement

B a franchise agreement

C a strategic alliance

D a joint venture

Answer

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Tags: Business collaboration, Franchise, Joint venture, Licensing agreement, Strategic alliance
Level: Level 1

Topic: Competitive advantage and strategic direction

BMIS – L1 – SA – Q7.2 – Competitive advantage

Bowman’s strategic clock on pricing and perceived benefits

Question

According to Bowman’s strategic clock, a strategy of reducing the price of a product below the average and increasing the perceived benefits so that these are above average is a:

A focused differentiation strategy

B low price strategy

C hybrid strategy

D differentiation strategy

Answer

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Tags: Bowman’s strategic clock, Competitive advantage, Differentiation, Hybrid strategy, Pricing Strategy
Level: Level 1

Topic: Competitive advantage and strategic direction

BMIS – L1 – SA – Q7.1 – Competitive advantage

Impact of product differentiation strategy on pricing and market dynamics

Question

With a production differentiation strategy:

A there is a low threat of new entrants to the market
B there are no substitute products
C cost leadership can be achieved in a chosen market segment
D a higher price can be charged for the product

Answer

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Tags: Competitive advantage, Differentiation strategy, Market entry, Pricing, Substitutes
Level: Level 1

Topic: Competitive advantage and strategic direction

BMIS – L1 – SA – Q6.5 – Competitive Forces and Markets

Explains the Five Forces model as a framework for analyzing industry competition.

Question

The Five Forces model is intended to explain the reasons for

A the strength of competition in an industry

B the selection of product-market strategies

C sources of sustainable competitive advantage

D the fragmentation of industry

Answer

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Tags: Competitive analysis, Five Forces Model, Industry Competition, Market Strategy
Level: Level 1

Topic: Competitive forces and markets

BMIS – L1 – SA – Q6.4 – Competitive Forces and Markets

Classifies TV advertising to consumers as pull promotion to encourage demand.

Question

Advertising a product to consumers on television is an example of:

A pull promotion

B push promotion

C pull-push promotion

D push-pull promotion

Answer

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Tags: Advertising, Consumer Demand, Marketing strategy, Pull Promotion
Level: Level 1

Topic: Competitive forces and markets

BMIS – L1 – SA – Q6.3 – Competitive Forces and Markets

Identifies the marketing concept as the philosophy behind responding to consumer demand for a low-sugar product.

Question

When a confectionary company introduced a low sugar natural fruit jam in response to consumer’s demand, which one of the following philosophies was being followed?

A Selling concept

B Product concept

C Marketing concept

D Production concept

Answer

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Tags: Business Philosophy, Consumer Demand, Marketing Concept, Product Development
Level: Level 1

Topic: Competitive forces and markets

BMIS – L1 – SA – Q6.2 – Competitive Forces and Markets

Identifies promotion as the marketing mix variable for educating consumers about product benefits.

Question

Super Tiles produces a new floor tile that is highly stain resistant and durable. It must educate consumers about the benefits of the product. In which of the following marketing mix variables does this call for an activity?

A Price

B Promotion

C Distribution

D Product

Answer

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Tags: Consumer Education, Market Strategy, Marketing mix, Product Benefits, Promotion
Level: Level 1

Topic: Competitive forces and markets

BMIS – L1 – SA – Q6.1 – Competitive Forces and Markets

Defines the marketing mix as a set of variables to achieve desired market response.

Question

Which of the following best describes the ‘marketing mix’?
A A set of marketing variables that an organisation mixes to get the desired response from the target market

B A budget setting out the volumes to be sold of the firm’s various products in its target markets

C A set of different features that are present in a range of products

D The types of advertising used by a firm to reach and influence its target markets

Answer

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Tags: Business Strategy, Competitive forces, Market Response, Marketing mix, Target Market
Level: Level 1

Topic: Competitive forces and markets

BMIS – L1 – SA – Q5.5 – Introduction to business strategy

Strategy for a rapidly changing environment.

Question

In a rapidly changing business environment, which one of the following strategy combinations is the most appropriate for achieving corporate objectives?

A deliberate and emergent strategies

B incremental and deliberate strategies

C emergent and incremental strategies

D deliberate strategies only

Answer

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Tags: Deliberate Strategy, Emergent Strategy, strategy formulation
Level: Level 1

Topic: Introduction to business strategy

BMIS – L1 – SA – Q5.4 – Introduction to business strategy

Characteristics defining a strategic decision.

Question

Which THREE of the following characteristics would define a decision as being strategic in nature?

A The decision will have implications for operational decisions

B The decision concerns the allocation of resources

C The decision concerns competitive tactics

D The decision concerns the implementation of a business’s plans

E The decision concerns the scope of a business’s activities

Answer

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Tags: business scope, Resource Allocation, strategic decision
Level: Level 1

Topic: Introduction to business strategy

Subject (SQ): Business Management and Information Systems

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BMIS – L1 – SA – Q7.3 – Strategic direction

Type of business collaboration for patent rights sale

BMIS – L1 – SA – Q7.2 – Competitive advantage

Bowman’s strategic clock on pricing and perceived benefits

BMIS – L1 – SA – Q7.1 – Competitive advantage

Impact of product differentiation strategy on pricing and market dynamics

BMIS – L1 – SA – Q6.5 – Competitive Forces and Markets

Explains the Five Forces model as a framework for analyzing industry competition.

BMIS – L1 – SA – Q6.4 – Competitive Forces and Markets

Classifies TV advertising to consumers as pull promotion to encourage demand.

BMIS – L1 – SA – Q6.3 – Competitive Forces and Markets

Identifies the marketing concept as the philosophy behind responding to consumer demand for a low-sugar product.

BMIS – L1 – SA – Q6.2 – Competitive Forces and Markets

Identifies promotion as the marketing mix variable for educating consumers about product benefits.

BMIS – L1 – SA – Q6.1 – Competitive Forces and Markets

Defines the marketing mix as a set of variables to achieve desired market response.

BMIS – L1 – SA – Q5.5 – Introduction to business strategy

Strategy for a rapidly changing environment.

BMIS – L1 – SA – Q5.4 – Introduction to business strategy

Characteristics defining a strategic decision.

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BMIS – L1 – SA – Q7.3 – Strategic direction

Type of business collaboration for patent rights sale

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BMIS – L1 – SA – Q7.2 – Competitive advantage

Bowman’s strategic clock on pricing and perceived benefits

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BMIS – L1 – SA – Q7.1 – Competitive advantage

Impact of product differentiation strategy on pricing and market dynamics

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BMIS – L1 – SA – Q6.5 – Competitive Forces and Markets

Explains the Five Forces model as a framework for analyzing industry competition.

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BMIS – L1 – SA – Q6.4 – Competitive Forces and Markets

Classifies TV advertising to consumers as pull promotion to encourage demand.

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BMIS – L1 – SA – Q6.3 – Competitive Forces and Markets

Identifies the marketing concept as the philosophy behind responding to consumer demand for a low-sugar product.

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BMIS – L1 – SA – Q6.2 – Competitive Forces and Markets

Identifies promotion as the marketing mix variable for educating consumers about product benefits.

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BMIS – L1 – SA – Q6.1 – Competitive Forces and Markets

Defines the marketing mix as a set of variables to achieve desired market response.

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BMIS – L1 – SA – Q5.5 – Introduction to business strategy

Strategy for a rapidly changing environment.

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BMIS – L1 – SA – Q5.4 – Introduction to business strategy

Characteristics defining a strategic decision.

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