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Multiple Choice Quiz
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1
Which of the following actions does Wal-Mart take to lower its prices?
A)Wal-Mart uses distribution centers.
B)Wal-Mart invests in state-of-the-art information systems.
C)Sam Walton's stores are self-service.
D)Wal-Mart does all of the above to lower its prices.
2
For most business firms superior performance most likely means:
A)generating high profits and increasing profits over time.
B)giving back to the community.
C)providing flexible customer services.
D)having effective government relationships.
3
A unique strength that rivals lack is called a:
A)legacy constraint.
B)distinctive competency.
C)scope advantage.
D)horizontal advantage.
4
There is no codebook or book of blueprints a rival can purchase to learn how to operate like 3M. 3M has distinctive processes for generating new product ideas and taking those ideas from conception to market introduction that are embedded deep within the company. These processes serve as a:
A)copyright.
B)patent.
C)trademark.
D)barrier to imitation.
5
Cost advantages derived from a large sales volume are called economies of:
A)scale.
B)scope.
C)location.
D)density.
6
A firm with efficient internal operations and unique strengths to support its low-cost position is likely operating on the:
A)differentiation curve.
B)low-cost cycle.
C)efficiency frontier.
D)low-cost frontier.
7
To use segmentation to achieve competitive advantage, a segment must have:
A)a similarity to other segments in the market.
B)an ability to change with the times.
C)Internet access.
D)enough demand for the segment to be served profitably.
8
Activities having to do with the design, creation, and delivery of the product; its marketing; and its after-sales service are called:
A)secondary activities.
B)support activities.
C)primary activities.
D)fundamental activities.
9
Marketing and sales can create value for the firm by:
A)affecting consumers' perceptions of a product.
B)communicating consumer needs back to the R&D department.
C)discovering consumer needs.
D)doing all of the above.
10
__________ are the ability of senior managers to elicit high levels of performance from the constituent businesses of a diversified enterprise.
A)External governance skills
B)Internal diversification skills
C)Internal governance skills
D)Relational management skills





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