23 Flashcards
Customers are not the same and shall be divided in homogeneous groups called
Segments
strategy designed to supply a product/service that customer perceive as being different in ways that are relevant to them
differentiation
differentiation shall not be
unprofitable
unique selling proposition is
what do we do better than other competitors and customer wants
What strategy shall you avoid?
same benefit for higher price
your value proposition shall NOT
be easy to copy
what are the 4 P’s
product, price, place, promotion
what is the 15% rule at 3M
3M employees are encouraged to spend 15% of their time on developing new projects
introduction, growth, maturity and decline define
product life cycle
please indicate the wrong description of services
can be stocked
break-even point is when
incomes equal variable + fixed costs
an oligopolistic market when
a limited number of suppliers dominate a market
marketing myopia consists in
focusing only on one aspect of the marketing attributes without focusing on what customers actually want
BCG (Boston Consulting Group) Matrix orders products along relative market share and:
growth rate
which one is NOT one of the 4 basic growth strategies as defined in ANSOFF MATRIX
vertical development
company A produces and sells a high number of diesel cars in Europe although the current trend seems to favor electrical vehicles; in the following SWOT one proposition is not at its correct place:
weakness: market of diesel car is decreasing because of new regulation
Which “force” will lead to a higher profitability in an industry
no possible substitute
Michael Porter defines strategical positions such as niche players, industry leaders and the position “stuck in the middle” by establishing a relationship between ROI and
market share
A blue ocean strategy consists in
create a new market and make competition irrelevant
Peter Drucker once said “Corporate culture eats strategy for breakfast”: this means
corporate culture can get a company successful although its strategy is not optimum
What does Maslow rank at the top of his “pyramid”?
self fulfillment needs / self actualisation
Target shall be “SMART”: this acronym does NOT stand for:
arguable
What is the most secure payment term for an importer:
consignment
What does extraterritorial jurisdiction imply?
It is the legal ability of a government to exercise authority beyond its normal boundaries
NAFTA was replaced by a new treaty which took effect on July 1st 2020:
True: the NAFTA agreement has been replaced by the USMCA
the firm economic resources or items of value that the firm owes are:
assets
all the money that has ever been contributed to the company that never has to be paid back is the:
owners’ equity
in a double entry bookkeeping system, the loan from a bank must be recorded in the column of the:
assets and liabilities
if you want to see a “snapshot” of an organization’s financial position at a given moment, you would ask for the:
balance sheet
If you are an investor, which ratio or data would you use in order to compare the performance of one company with another on an equal?
per share data
if you want to ensure that enough cash flows through the organization quickly and efficiently, companies try to:
speed up cash collection from customers
if you minimize the company investments in inventory without production outbacks you are:
managing current assets
in a balance sheet, an operating lease is shown up as:
it does not show up
in a corporation the board of directors is elected by:
the stockholders
when facebook and instagram merge, it was a:
horizontal merger
when you read in the Nike’s website: “To bring inspiration to every athlete in the world”, this is their:
mission
assume for a moment your company sells insurance products in a large metropolitan area. The marketing team of your insurance company outlines, step by step, each marketing component needed to meet the goals. This is a:
tactical plan
the function of hiring and compensation of senior executives, defining the dividend and option policies and helping to set broad goals are made by:
Board of directors
the senior executive tasked with overseeing the day to day administrative and operational functions of a business is called:
COO
the purpose of the Hay Systems is to provide a consistent procedure to evaluate position classifications by:
all of them are correct
with situational leadership:
it is up to the leader to change his style, not the follower to adapt to the leaders style
according to the Situational Leadership model, an employee with moderate to high competence and variable commitment needs the following leadership style:
supporting
which is the DISC profile of an employee whom general characteristics are good listener, team player and predictable
steadiness
which is the first step of a decision-making process
recognizing and defining the decision situation
an economic system where competition, supply and demand determine which goods and services are produced, how they are produced and how they are distributed is called:
capitalism
the Adam Smith theory of “the invisible hand” is:
the tendency of markets to regulate themselves by means of competition, supply and demand, and self interest
which is the difference between pure capitalism and modified capitalism:
in a modified capitalism the government forces the demand
in which competition system no one business sells enough of the product to influence the product’s price and because there is no difference in the products, price and determined solely by the forces of supply and demand
pure competition
entertainment industry is an example of:
monopolistic competition
from June 2009 to February 2020 the world has lived a(n):
economic expansion
