Strategic Market Management 11th Edition Test Bank By David A. Aaker
Chapter 2 – External and Customer Analysis
What is the objective of external analysis? How would you distinguish between an effective and an ineffective external analysis? What would you say would be the most useful way to conduct an external analysis? Why?
Define and illustrate the term “strategic uncertainties.”
A strategic uncertainty identifies the most important strategic options.
Answer: False. Strategic uncertainties focus on specific unknown elements that will affect the outcome of strategic decisions.
An external analysis process should be able to affect strategy and to generate or evaluate strategic decisions.
Answer: True. The external analysis process should not be an end in itself. It should be motivated throughout by a desire to affect strategy, to generate or evaluate strategic decisions.
The benefits sought from a product is a very useful segmentation variable, because the selection of benefits can determine a total business strategy.
A scenario is an alternative view of the future environment that is usually prompted by an alternative possible answer to a strategic uncertainty or by a prospective future event or trend.
Answer: True. This is the definition of a scenario.
In a strategic context, segmentation means the identification of customer groups that respond differently from other groups to competitive offerings.
Answer: True. This is the definition of segmentation.
One of the tasks in customer motivation analysis is to determine the relative importance of the motivations.
Answer: True. The importance of the motivation will help determine the strategic role that motivation will play in the business strategy.
A customer analysis consists of three components; segmentation, customer motivation, and ________________.
Answer: Unmet needs. This is the definition of customer analysis. Customer analysis can be usefully partitioned into an understanding of how the market segments, an analysis of customer motivations, and an exploration of unmet needs.
Uncertainty can be handled by precipitating a strategic decision, by obtaining information to reduce the uncertainty, and by ___________.
Answer: Scenario analysis. The three ways of handling uncertainty are: 1) a strategic decision can be precipitated because the logic for a decision is compelling and/or because a delay would be costly or risky. Second, it may be worthwhile to attempt to reduce the uncertainty by information acquisition and analysis of an information-need area. Third, the uncertainty could be modeled by a scenario analysis.
To gain customers as active partners, managers should do all of the following except:
- Co-create personalized experiences
- Encourage active dialogue
- Ignore the complainers
- Mobilize customer communities
- Manage customer diversity
Answer: C. Customers are increasing becoming active partners in the buying process, rather than being seen as passive targets of product development and advertising.
Toyota Scion is aimed at generation Y, the echo boomers.
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