23

Question 1

Customers are not the same and shall be divided in homogeneous groups called

Answer 1

Segments

Question 2

strategy designed to supply a product/service that customer perceive as being different in ways that are relevant to them

Answer 2

differentiation

Question 3

differentiation shall not be

Answer 3

unprofitable

Question 4

unique selling proposition is

Answer 4

what do we do better than other competitors and customer wants

Question 5

What strategy shall you avoid?

Answer 5

same benefit for higher price

Question 6

your value proposition shall NOT

Answer 6

be easy to copy

Question 7

what are the 4 P’s

Answer 7

product, price, place, promotion

Question 8

what is the 15% rule at 3M

Answer 8

3M employees are encouraged to spend 15% of their time on developing new projects

Question 9

introduction, growth, maturity and decline define

Answer 9

product life cycle

Question 10

please indicate the wrong description of services

Answer 10

can be stocked

Question 11

break-even point is when

Answer 11

incomes equal variable + fixed costs

Question 12

an oligopolistic market when

Answer 12

a limited number of suppliers dominate a market

Question 13

marketing myopia consists in

Answer 13

focusing only on one aspect of the marketing attributes without focusing on what customers actually want

Question 14

BCG (Boston Consulting Group) Matrix orders products along relative market share and:

Answer 14

growth rate

Question 15

which one is NOT one of the 4 basic growth strategies as defined in ANSOFF MATRIX

Answer 15

vertical development

Question 16

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:

Answer 16

weakness: market of diesel car is decreasing because of new regulation

Question 17

Which “force” will lead to a higher profitability in an industry

Answer 17

no possible substitute

Question 18

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

Answer 18

market share

Question 19

A blue ocean strategy consists in

Answer 19

create a new market and make competition irrelevant

Question 20

Peter Drucker once said “Corporate culture eats strategy for breakfast”: this means

Answer 20

corporate culture can get a company successful although its strategy is not optimum

Question 21

What does Maslow rank at the top of his “pyramid”?

Answer 21

self fulfillment needs / self actualisation

Question 22

Target shall be “SMART”: this acronym does NOT stand for:

Answer 22

arguable

Question 23

What is the most secure payment term for an importer:

Answer 23

consignment

Question 24

What does extraterritorial jurisdiction imply?

Answer 24

It is the legal ability of a government to exercise authority beyond its normal boundaries

Question 25

NAFTA was replaced by a new treaty which took effect on July 1st 2020:

Answer 25

True: the NAFTA agreement has been replaced by the USMCA

Question 26

the firm economic resources or items of value that the firm owes are:

Answer 26

assets

Question 27

all the money that has ever been contributed to the company that never has to be paid back is the:

Answer 27

owners’ equity

Question 28

in a double entry bookkeeping system, the loan from a bank must be recorded in the column of the:

Answer 28

assets and liabilities

Question 29

if you want to see a “snapshot” of an organization’s financial position at a given moment, you would ask for the:

Answer 29

balance sheet

Question 30

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?

Answer 30

per share data

Question 31

if you want to ensure that enough cash flows through the organization quickly and efficiently, companies try to:

Answer 31

speed up cash collection from customers

Question 32

if you minimize the company investments in inventory without production outbacks you are:

Answer 32

managing current assets

Question 33

in a balance sheet, an operating lease is shown up as:

Answer 33

it does not show up

Question 34

in a corporation the board of directors is elected by:

Answer 34

the stockholders

Question 35

when facebook and instagram merge, it was a:

Answer 35

horizontal merger

Question 36

when you read in the Nike’s website: “To bring inspiration to every athlete in the world”, this is their:

Answer 36

mission

Question 37

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:

Answer 37

tactical plan

Question 38

the function of hiring and compensation of senior executives, defining the dividend and option policies and helping to set broad goals are made by:

Answer 38

Board of directors

Question 39

the senior executive tasked with overseeing the day to day administrative and operational functions of a business is called:

Answer 39

COO

Question 40

the purpose of the Hay Systems is to provide a consistent procedure to evaluate position classifications by:

Answer 40

all of them are correct

Question 41

with situational leadership:

Answer 41

it is up to the leader to change his style, not the follower to adapt to the leaders style

Question 42

according to the Situational Leadership model, an employee with moderate to high competence and variable commitment needs the following leadership style:

Answer 42

supporting

Question 43

which is the DISC profile of an employee whom general characteristics are good listener, team player and predictable

Answer 43

steadiness

Question 44

which is the first step of a decision-making process

Answer 44

recognizing and defining the decision situation

Question 45

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:

Answer 45

capitalism

Question 46

the Adam Smith theory of “the invisible hand” is:

Answer 46

the tendency of markets to regulate themselves by means of competition, supply and demand, and self interest

Question 47

which is the difference between pure capitalism and modified capitalism:

Answer 47

in a modified capitalism the government forces the demand

Question 48

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

Answer 48

pure competition

Question 49

entertainment industry is an example of:

Answer 49

monopolistic competition

Question 50

from June 2009 to February 2020 the world has lived a(n):

Answer 50

economic expansion