Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Strategic Management > Chap 9: Functional Level Strategy > Flashcards

Chap 9: Functional Level Strategy Flashcards

1
Q

Intended to maximize the resource productivity of a company so that the value is created as perceived by customers

A

Functional level strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Deliver customer-value products

A

Marketing strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Maximize the financial value of a company

A

Financial strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Guide the development and implementation of various programs

A

Human resource strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Reconcile a company’s resources and market requirements

A

Production and operations strategies

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Maximize resource productivity

A

Functional level strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Gain a competitive position in an industry

A

Business level strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Provide the overall direction of a company

A

Corporate level strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships

A

Marketing strategy (Kotler and Armstrong, 2013)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Dictates the marketing strategy that is adapted by a company based on its competitive position in the market

A

Competitive position strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

There’s a company that has the largest share in the market

A

Market leader

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

In this strategy, the market leader expands the demand by developing new users or promoting new usage of a product

A

Expand total demand strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Adopted by the market leader, when it continuously innovates, and fixes its weaknesses to avoid competitors from taking opportunities

A

Protect market share strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

It is the desire of the market leader to expand its market share when it offers superior quality products, builds close customer relationships, and creates good service experiences with customers

A

Expand market share strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

A company that has a marketshare lower than that of the market leader

A

Market challenger

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Attacks the strength of the market, leader, and other competitors not their weaknesses. It matches the market leader’s product, price and distribution system.

A

Full frontal attack strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Market challenger of words attacking the strength of the market leader. Instead, it works against the weaknesses of the market leader.

A

Indirect attack strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

A company that simply follows the market leader, or challenger, instead of attacking them

A

Market follower

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

In this strategy, the market, followers studies and learns from the experiences of the market leader by improving the market leader’s products and programs at a lower cost

A

Follow closely strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

The market follower in this strategy simply holds on to its current customers and tries win new customers fairly as a way of avoiding retaliation from the market challenger

A

Follow at a distance strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

A company that provides the needs of a small segment in the market, which has not been given a preference yet by the market leader or challenger

A

Market nicher

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

In this strategy, a market nicher can specialize in one type of end-user group or specific customers

A

Specialization niching strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

A market niche with multiple niching strategy as its competitive position strategy serves two or more market niches

A

Multiple niching strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Refers to the buyers of a product or service, not the place where a seller and the buyer meet. They can be actual or potential buyers

A

Market

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

This strategy is designed to determine the customers to be served and the manner in which they are to be served

A

Market identification strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

This strategy aims to divide the market into distinct groups of buyers who have different behaviors, characters, and needs

A

Segmentation strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

This strategy is designed to identify the particular group of customers to be served

A

Targeting strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

This is concerned with the way customers are served

A

Positioning strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

In this strategy, the markets and the products are classified either as existing or new

A

Market-product growth strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

This strategy is adopted by a marketing functional unit when it aims to improve a company’s sales through the rigorous selling of existing products to the current market segment

A

Market penetration strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

This strategy aims to improve a company’s sales through the sale of existing products to new markets

A

Market development strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

A company plans to grow by selling new products to existing market segments

A

Product development strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

A company plans to grow by entering a new market with new product lines

A

Diversification strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

An important factor in the struggles of a company to achieve a competitive advantage in an industry

A

Pricing strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Introducing new products to the market

A

New product pricing strategy

36
Q

This strategy allows a company to set a high, initial price for its product to obtain the highest possible revenue

A

Skimming pricing strategy

37
Q

In this strategy, a company sets a low initial price for its product so that it can easily penetrate and gain a considerable share in the market

A

Penetration pricing strategy

38
Q

A set of product lines or items offered by seller for a single price

A

Product-mix or product portfolio

39
Q

The price between various products in a product line is set based on cost difference, customer evaluation, and competitor’s price

A

Product line pricing strategy

40
Q

This pricing strategy is adapted when there are accessories that can be added to the main product

A

Optional product line pricing strategy

41
Q

A certain product must be used with other products

A

Captive product pricing strategy

42
Q

Adopted when producing the main product results in a byproduct with a saleable value

A

Byproduct pricing strategy

43
Q

Products are offered to the market as a bundle with one collective price

A

Product bundle pricing strategy

44
Q

The plans for a company’s activities, intended to communicate its products to target customers and persuade them to purchase them

A

Promotion and distribution marketing strategies

45
Q

A promotion strategy that makes use of distribution channels in promoting and selling a product

A

Bush strategy

46
Q

A promotion strategy that is used when a company, heavily engages in advertising and customer promotion to influence a buyer the purchase of product

A

Pull strategy

47
Q

The sales force presents the products to customers to make sales and at the same time build strong customer relationships

A

Personal selling strategy

48
Q

A company distributes, or sells goods or services directly to final consumers for their personal use

A

Retailing strategy

49
Q

Plans to distribute or sell goods and services to companies that are buying for resale

A

Wholesaling strategy

50
Q

To deliver customer value products

A

Marketing strategies

51
Q

To set plans based on the role of a company in a market

A

Competitive position strategies

52
Q

To determine grows in a target market

A

Market strategies

53
Q

To set competitive prices for a fair return

A

Pricing strategies

54
Q

To influence a buyer to purchase

A

Promotion and distribution strategies

55
Q

This unit, in coordination with the middle and top level management is largely responsible for the formulation of financial strategies

A

Finance unit

56
Q

A strategic plan that seeks to determine how a company supports the financial requirements of its operating activities and its current assets and fixed asset acquisition

A

Financing strategy

57
Q

The fixed assets of a company and part of its permanent current assets are financed by long-term debt, equity, and spontaneous current liabilities

A

Aggressive financing strategy

58
Q

A company borrows a significant amount of funds to acquire another company, using the assets of the acquired company as collateral and some of its own

A

Leveraged buyout

59
Q

The total assets of a company are financed by long-term debt, equity and spontaneous current liabilities

A

Conservative financing strategy

60
Q

A financing plan that funds all temporary current assets with short term nonspontaneous debt

A

Maturity matching financing strategy

61
Q

Concerned with the management of the investment portfolio of a company returns at certain levels of risks

A

Investing strategy

62
Q

Reflects how a company manages or handles its investment portfolio at a particular level of risk

A

Management strategy

63
Q

A company places its investment portfolio when market prices are rising and giving higher returns. It is the strategy adapted for the bull market.

A

Passive management strategy

64
Q

A company places its investment portfolio when market prices are falling with a shorter cycle. This strategy is employed during the bear market.

A

Active management strategy

65
Q

A company invest funds in a mixture of assets that have low correlation to each other to optimize its return on assets and risk level

A

Asset allocation strategy

66
Q

A company employs the strategic asset allocation strategy when it has fixed the allocation of its investment portfolio

A

Strategic asset allocation strategy

67
Q

The portfolio mix is changed when market conditions change

A

Tactical asset allocation strategy

68
Q

Portfolio mix is returned to its original allocation to realize, gains from investments and expand growth opportunities in high value securities

A

Portfolio rebalancing

69
Q

Purchases assets that are offered at a discounted price which gives the intrinsic value of the investment

A

Value investing strategy

70
Q

A company purchases assets or companies that have above average earnings growth not withstanding their valuation and the type of assets acquired

A

Growth stock investing strategy

71
Q

When a company buys securities that have average earnings in a short period of time and cells those that have poor growth

A

Momentum investing strategy

72
Q

An organizational plan about a company’s human resource policies and practices, and the way they integrate with other functional areas

A

Human resource strategy

73
Q

A broad and encompassing strategy that is concerned with the overall effectivity of a company in terms of human resources so people are managed developed, attracted and retained

A

Overarching human resource strategy

74
Q

A plan that defines what a company intends to do in various specific areas of human resource management

A

Specific human resource strategy

75
Q

This human resource strategy focuses on the improvement of the processes that support the achievement of a company’s goals and the development of positive culture

A

Organizational effectiveness strategy

76
Q

This strategy aims to develop or improve the preparation and implementation of organizational development plans

A

Organizational development strategy

77
Q

This strategy plans to radically change a company’s structure, culture and processes as a response to competitive pressure brought by changes in the market, technology, product lines, and business acquisitions

A

Organizational transformation strategy

78
Q

It is the strategic human resource management plan designed to identify the ways a company can manage the changes in its culture from depressants date to the desirable future state

A

Culture management strategy

79
Q

In this strategy, the company aims to acquire, use, and transfer knowledge effectively to achieve competitive advantage

A

Knowledge management strategy

80
Q

This strategy aims to develop communication, education, training, and involvement, as a way of increasing rewards and motivation, among employees for their commitment to the company

A

Commitment strategy

81
Q

Intends to develop or build trust, which is considered the sound ground to generate commitment

A

Climate of trust strategy

82
Q

This strategy is intended to create and maintain a quality oriented, culture and standards to meet the expectations of customers

A

Quality management strategy

83
Q

The aim of this strategy is to improve and sustain the quality and reliability of products and services over a period of time

A

Continuous improvement strategy

84
Q

This strategy plans to achieve excellence in service in terms of delivering promises, resolving customers problems, post sale infrastructure, and customer focused systems

A

Customer service strategy

85
Q

Concerned with meeting the requirements of a company in terms of skills, talents, and behavior

A

Resource strategies

Strategic Management (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions