11. Which of the following is NOT part of an organization’s micro-environment?

a) Competitors b) Suppliers c) Customers d) Government legislation

12. Which of the following are the means by which long-term objectives will be achieved?

a) Long-term goals b) Mission statements c) Strategies d) Vision statements

13. Karen's company just finished meeting with the consultants who delivered a 4-year plan of improvements. Which part of the strategic landscape is described?

a) Strategy initiation b) Strategy formulation c) Strategy implementation d) Strategy assessment

14. It is a job for the whole management team, not a few senior managers, because every manager needs to be concerned with what has to be done in his/her area of authority to implement the company's strategy successfully refers to as:

a) Implementing and executing strategy b) Formulating and implementing strategy c) Formulating and executing strategy d) Statement is wrong

15. Which one of the following is NOT a good indicator of how well a company's present strategy is working?

a) The company's market share ranking and whether its share is trending up, down, or staying more or less the same b) Whether the company is regarded as a leader in some significant area (technology, product quality, customer service, product innovation and so on) and the firm's image and reputation with customers c) Whether the company's profit margins are increasing or decreasing and how large they are relative to other firms in the industry d) Whether the company's resource strengths and competitive capabilities outweigh its resource weaknesses and competitive vulnerabilities

16. Which of the following refers to companies often failure to predict changes, either slow or long range to at least calculate their impact on their product and customers?

a) Inability to predict environmental reaction b) Failure to coordinate c) Poor communications d) Failure to obtain senior management commitment

17. Immediate attention and help must be given to customers in sensitive to situations. This skill refers to which of the followings?

a) Skill to listen b) Skill to speed up response c) Skill to provide positive experience d) Skill to be receptive

18. Branding assists buyers in numerous ways. Which of the following is NOT a direct consumer benefit derived from branding?

a) Brand names convey product quality b) Branding enables suppliers to attract loyal and profitable set of customers c) Brand names raise awareness and increase consumer interest d) Brand names increase shopper efficiency

19. Consumer’s perception of product or service quality is influenced by which of the following category?

a) Brand perception, price perception, and value perception b) Brand name, objective price, and perceived sacrifice c) Brand perception, price perception, and store perception d) Brand name, objective price, and willingness to buy

20. A brand relationship strategy is used for which of the following purpose?

a) Focuses on profits b) Identifies building market share as its objective c) Pulls a firm's diverse product lines into a “family of brands” d) Brings brands and customers together