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Chapter 01 – New Challenges for Market-Driven Strategy
Chapter 01
New Challenges for Market-Driven Strategy
True/False Questions
1. The underlying logic of market-driven strategy is that production needs are the starting
point in business strategy.
Answer: False
Difficulty: Easy
Page: 4
5. The inside-out processes play a key role in offering direction for the spanning and outside-
in capabilities, which respond to the customer needs and requirements identified by the
inside-out processes.
Answer: False
Difficulty: Moderate
Page: 8
6. The organizational process view of distinctive capabilities requires shifting away from the
traditional specialization of business functions toward a cross-functional process perspective.
Answer: True
Difficulty: Easy
Page: 8
1-1
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
7. Superior customer value results from a very favorable use experience of the customer
compared to expectations of the customer and the value offerings of competitors.
Answer: True
Difficulty: Easy
Page: 9
8. Corporate objectives are concerned with resolving questions about the business the firm
should be in, where it should focus, and its enduring strategic purpose.
Answer: False
Difficulty: Moderate
Page: 12
9. Synergies highlight competencies, resources, and capabilities that drive efficiency and
effectiveness in the business.
Answer: True
Difficulty: Easy
Page: 12
10. The purpose of strategic positioning is to locate the people (or organizations) that
management wishes to serve in the product-market.
Answer: False
Difficulty: Easy
Page: 17
11. _____ is a business perspective that makes the customer the focal point of a company’s
total operations.
A. Market orientation
B. Competitive parity
C. Value chain integration
D. Business scaffolding
Answer: A
Difficulty: Easy
Page: 4
12. Getting all business functions working together to provide superior customer value is
referred to as _____.
A. customer relationship management
B. competitor intelligence
C. cross-functional coordination
D. centralization
Answer: C
Difficulty: Easy
Page: 6
1-2
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
13. _____ are complex bundles of skills and accumulated knowledge, excised through
organizational processes, that enables firms to coordinate activities and make use of their
assets.
A. Business clusters
B. Competitor faculties
C. Cross functions
D. Distinctive capabilities
Answer: D
Difficulty: Easy
Page: 6
14. _____ consist(s) of the benefits and costs resulting from the purchase and use of products
as perceived by the buyer.
A. Customer value
B. Distinctive capabilities
C. Spanning process
D. Market sensing
Answer: A
Difficulty: Easy
Page: 8
15. _____ consist(s) of deciding the scope and purpose of the business, the objectives, and the
resources necessary to achieve the objectives.
A. Marketing strategy
B. Corporate strategy
C. Market sensing
D. Channel bonding
Answer: B
Difficulty: Easy
Page: 11
Page: 12
16. With regard to corporate strategy, _____ is/are concerned with resolving questions about
the business the firm should be in, where it should focus, and its enduring strategic purpose.
A. corporate objectives
B. synergies
C. scope
D. resource allocation
Answer: C
Difficulty: Easy
Page: 12
17. With regard to a corporate strategy framework, _____ define(s) what the corporation is
and what it does and provides important guidelines for managing and improving the
corporation.
1-3
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
A. resource allocation
B. synergies
C. objectives
D. management’s vision
Answer: D
Difficulty: Easy
Page: 12
18. In a corporate strategy, _____ indicate(s) the dimensions of performance upon which to
focus and the levels of achievement required.
A. corporate objectives
B. synergies
C. vision
D. scope
Answer: A
Difficulty: Easy
Page: 12
19. Which of the following is the final component of the corporate strategy?
A. Scope
B. Synergy
C. Corporate objective
D. benchmarking
Answer: B
Difficulty: Easy
Page: 12
20. A _____ is a single product or brand, a line of products, or a mix of related products that
meets a common or a group of related market needs, and its management is responsible for
the basic unctions.
A. market section
B. strategic business unit
C. business segment
D. marginal piece
Answer: B
Difficulty: Easy
Page: 14
21. Which of the following is the first step in a marketing strategy process?
A. Market-driven program development
B. Designing market-driven strategy
C. Identifying and evaluating markets, segments, and customer value
D. Implementing and managing market-driven strategy
Answer: C
Difficulty: Easy
Page: 16
1-4
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
22. Which of the following stages of marketing strategy process consists of brand, value-
chain, pricing, and promotion and selling strategies designed and implemented to meet the
value requirements of targeted buyers?
A. Implementing and managing market-driven strategy
B. Designing market-driven strategy
C. Identifying and evaluating markets, segments, and customer value
D. Market-driven program development
Answer: D
Difficulty: Easy
Page: 16
23. Which of the following stages of marketing strategy process considers organizational
design and marketing strategy implementation and control?
A. Implementing and managing market-driven strategy
B. Designing market-driven strategy
C. Identifying and evaluating markets, segments, and customer value
D. Market-driven program development
Answer: A
Difficulty: Easy
Page: 16
24. _____ offer(s) a company the opportunity to focus its business on the requirements of one
or more groups of buyers.
A. Corporate resources
B. Market segmentation
C. Business composition
D. Distinctive capabilities
Answer: B
Difficulty: Easy
Page: 16
25. _____ are described by different characteristics of customers, the reasons that they buy or
use certain products, and their preferences for certain brands of products.
A. Market shares
B. Strategic marketing objectives
C. Market segments
D. Corporate capabilities
Answer: C
Difficulty: Moderate
Page: 16
26. _____ examines customer targeting and positioning strategies, marketing relationship
strategies, and innovation and new product strategy.
A. Identifying markets, segments, and customer value
1-5
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
27. The purpose of _____ is to select the people (or organizations) that management wishes to
serve in the product-market.
A. strategic positioning
B. benchmarking
C. customer linking
D. market targeting strategy
Answer: D
Difficulty: Easy
Page: 17
28. _____ is the combination of the product, value chain, price, and promotion strategies a
firm uses to place itself against its key competitors in meeting the needs and wants of the
buyers in the market target.
A. Positioning strategy
B. Customer relationship management
C. Customer linking
D. Market targeting strategy
Answer: A
Difficulty: Easy
Page: 17
29. _____ seeks to place the brand in the eyes and mind of the buyer and distinguish the
product from those in competition.
A. Customer relationship strategy
B. Positioning strategy
C. Benchmarking
D. Value-chain strategy
Answer: B
Difficulty: Moderate
Page: 17
1-6
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
Essay Questions
31. What does becoming market-oriented mean from a business perspective? What are its
features?
Answer: Market orientation is a business perspective that makes the customer the focal point
of a company’s total operations. “A business is market-oriented when its culture is
systematically and entirely committed to the continuous creation of superior customer value.”
Importantly, achieving a market orientation involves the use of superior organizational skills
in understanding and satisfying customers. Becoming market oriented requires the
involvement and support of the entire workforce. The organization must monitor rapidly
changing customer needs and wants, determine the impact of these changes on customer
behavior, increase the rate of product/service innovation, and implement strategies that build
the organization’s competitive advantage.
A market-oriented organization continuously gathers information about customers,
competitors, and markets; views the information from a total business perspective; decides
how to deliver superior customer value; and takes actions to provide value to customers.
Importantly, these initiatives involve cross-functional participation. Market orientation
requires participation by everyone in the organization. An organization that is market oriented
has both a culture committed to providing superior customer value and processes for creating
value for buyers.
Difficulty: Moderate
Page: 4
Page: 5
33. Discuss how customers perceive value and how companies deliver customer value.
1-7
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any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 01 – New Challenges for Market-Driven Strategy
Answer: Intense global competition and the increasing demands of ever-more sophisticated
customers make the creation of customer value an important challenge for managers. Offering
superior customer value is at the core of business design. Buyers form value expectations and
decide to purchase goods and services based on their perceptions of products’ benefits less the
total costs incurred. Customer satisfaction indicates how well the product use experience
compares to the buyer’s value expectations. Superior customer value results from a very
favorable use experience compared to expectations and the value offerings of competitors.
The organization’s distinctive capabilities are used to deliver value by differentiating the
product offer, offering lower prices relative to competing brands, or a combination of lower
cost and differentiation. Deciding which avenue to follow requires matching capabilities to
the best value opportunities.
Difficulty: Moderate
Page: 9
1-8
© 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in
any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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In the more severe cases with already existing impaction of the
colon, purgatives and copious injections will be demanded as advised
under that disease.
In dogs the first object is the unloading of the rectum and colon
and this usually demands direct mechanical intervention. (See
Intestinal Indigestion with Constipation.) In case of hypertrophied
prostate this may be rendered somewhat difficult, yet with a free use
of oily, soapy or mucilaginous injections it can usually be
accomplished.
The further treatment is on the same line as for the soliped. An
abundance of exercise in the open air is a prime essential, together
with a free access to fresh water. House dogs must be taken out for
urination and defecation at regular times that are not too far apart.
The food must be of a laxative nature. At first fresh whey or
buttermilk only may be allowed, but as some action of the bowels is
obtained well salted beef tea, pulped or scraped red muscle seasoned
with salt, or milk treated in the same way is permissible. If the
bowels fail to respond when the dog is taken out at the regular times
an injection of cold water may be given. Sulphate of eserine (⅕ gr.)
may be given daily by the mouth or hypodermically, or castor oil (½
to 1 oz.) may be administered at one dose to be followed by careful
dietary and hygienic measures. Or sweet oil, calomel and jalap,
podophyllin, or colocynth may be substituted. When the bowels have
been freely opened a daily morning dose of a drop of the fluid extract
of belladonna and ½ gr. of nux vomica will often materially improve
the peristalsis. Active manipulation of the abdomen may be
employed, or, if available, a current of electricity through the torpid
bowels for 10 or 15 minutes daily.
CONSTIPATION IN BIRDS.
Causes: Matted feathers, impacted cloaca, arrest of eggs, debility, catarrh,
parasites, nervous disorder. Symptoms: swelling of anus, pendent abdomen,
waddling gait, straining without effect. Treatment: remove obstruction by
mechanical means, cut off matted feathers, egg matter may demand laparotomy,
castor oil, tincture of rhubarb, enemata, green food, ensilage, roots, onions.
In birds torpid and obstructed bowels may come from the effects
of a previous diarrhœa, which has led to the matting together of the
feathers over the anus at once obstructing defecation and rendering
it painful. It may result in and be aggravated by a slow accumulation
of indigestible matters in the intestine or cloaca (pebbles, feathers,
etc.), and the arrest of eggs in the oviduct, pressing upon and
obstructing the bowel. In a recent case the author removed 18 ozs. of
impacted egg matter from the oviduct of a hen, which when divested
of this load weighed barely 2 lbs. Debility of the general system and
particularly of the walls of the bowels, and its various causes (old
age, exhausting disease, intestinal catarrh, parasites, nervous
diseases, etc.) retard defecation and favor impaction as in the
mammal.
The symptoms may be; hard dry droppings, matting of the
feathers over the anus with feculent matters, a firm swelling
surrounding the sphincter, a pendent condition of the abdomen
which when manipulated is felt to be firm and resistant, ruffling of
the feathers, drooping of the head, wings and tail, walking sluggishly
with legs half bent and a waddling gait, and ineffectual attempts to
defecate.
Treatment. As in dogs remove the obstructing mass by mechanical
means. Matted feathers may be clipped off, and feculent
accumulations may be dislodged by the aid of the finger, or in small
birds of a blunt prob. This may be favored by manipulation through
the abdominal walls, and the injection of soapy or oily enemata.
Accumulations of impacted egg matter may be similarly removed, or,
failing this, by an incision made through the abdominal walls and
oviduct. As a purgative give one or two teaspoonfuls castor oil
according to the size of the hen, or a few drops to a small cage bird.
For the latter Friedberger and Fröhner advise a few drops of tincture
of rhubarb in the drinking water. Injections of warm or cold
soapsuds or water may be continued as symptoms demand. Green
food, ensilage, roots, worms, snails and insects are indicated to
correct the tendency to costiveness and may be continued until the
bowels have acquired their proper tone. A moderate allowance of
onions is often of great value.
HAIR BALLS IN THE INTESTINES—HORSE.
EGAGROPILES.
Seat, colon, cæcum; hair of oat seed, clover leaf, vine tendrils, hair of horse,
nucleus, calcic admixture, straw, in horses on dry food, with depraved appetite, or
with skin disease. Symptoms: none, or torpid bowels, colics, recurring,
fermentations, tympany, obstruction, rupture, peritonitis, rectal exploration.
Lesions: impacted ball, with excess of liquid and gas in front, rupture, ragged
bloody edges. Treatment: extraction, enemata, eserine, barium chloride.
Hair balls, received the name of egagropiles because of their
discovery in the alimentary canal of the wild goat, but they are found
in various forms in all the domestic animals. In horses they occupy
the cæcum and colon and are most frequently composed of the fine
vegetable hairs that surround the grain of the oat, or the leaf of
clover, of the woody tendrils of vines, and of the hairs of themselves
and their fellows taken in at the period of moulting. They sometimes
contain a nucleus of leather or other foreign body which has been
swallowed but in many cases no such object can be found, the hair
having become rolled and felted by the vermicular movements of the
stomach and intestines. An admixture of mucus assists materially in
the felting, and calcareous and magnesian salts may make up the
greater part of the mass, rendering it virtually a calculus. They may
further have a large admixture of straw and vegetable fibres of larger
size than oat or clover hairs. They are most frequent in horses kept
on dry food, (sweepings of oatmeal mills) and at hard work, and
which show depraved appetite and lick each other. Omnibus horses
suffer more than army horses. Skin diseases, by encouraging licking,
contribute to their production.
Symptoms. In the great majority of cases hair balls do not
seriously incommode the horse. They do not attain a large size, and
being light do not drag injuriously on the intestine and mesentery.
They do, however, retard the movement of the ingesta, and when
grown to a considerable size they may block the intestine, more
particularly the pelvic flexure, the floating colon or rectum. Under
such conditions they produce colics which may be slight, transient,
and recurrent, or severe and even fatal, having all the characteristics
of complete obstruction from other causes. Fermentations,
tympanies, and straining without defecation are common features.
When the obstruction takes place in the pelvic flexure, the floating
colon or rectum, it may often be detected by rectal exploration. When
complete obstruction occurs all the violent symptoms of that
condition are present, and these may pass into those of rupture
(Peuch, Leblanc, Neyraud), and shock or peritonitis. If the animal
has passed hair balls even months before, the colics may with
considerable confidence be attributed to other balls of the same kind.
Lesions. In case of death there are the usual lesions of gaseous
indigestion, with or without enteritis, but with the accumulation of a
great quantity of liquid contents, above the ball, which is felt as a
firm body impacted in the gut. In other cases the distended bowel
has given way and the liquid contents and often the hair ball as well
are found free in the abdominal cavity. In such a case the edges of the
laceration are covered with blood clots and thickened with
inflammatory exudation, and there is more or less peritonitis.
Treatment. Relief may sometimes be obtained by the extraction of
a hair ball lodged in the rectum or adjacent part of the floating colon.
In other cases abundant soapy or oily enemata, and the employment
of eserine or barium chloride subcutem are indicated.
HAIR AND BRISTLE BALLS IN DOG AND
PIG.
From licking in skin disease. Symptoms: of obstruction. Treatment:
manipulation, enemata, oil, antispasmodics, eserine, barium chloride, laparotomy,
diet in convalescence.
The hair balls of dogs come mainly from licking themselves when
affected with skin diseases or parasites. In pigs they are mostly
attributed to depraved appetite.
The hair balls of the dog are small, open in texture, and easily
disintegrated, having little mucus and no earthy salts in their
composition.
The bristle balls of pigs take the form of straight or curved rods of
firm consistency, but without earthy salts. The projecting ends of the
bristles render them particularly irritating.
The symptoms are those of obstruction of the bowels, and the
treatment consists in efforts to dislodge them. If situated near the
anus they may sometimes be reached with the finger, or copious oily
injections may facilitate their passage. Manipulations through the
abdominal walls may be helpful in the dog. Oleaginous laxatives and
antispasmodics may be tried, or these failing, eserine or barium
chloride. As a last resort laparotomy may be performed, the ball
abstracted and the intestine and abdominal wall carefully sutured
(Siedamgrotzky). In such a case the diet should be restricted for a
week to beef soups, buttermilk, and well boiled gruels, especially
flaxseed.
INTESTINAL CALCULI. ENTEROLITHS.
BEZOARS.