Management Engineering - Strategy and Marketing

Multiple choice test

Strategy & Marke ,ng Wri 0en Exam Academic Year: 2021-2022 Prof. Davide Chiaroni Mul $ple Choice Test February 7th, 2022 Examina $on Session Time allowed: 30 minutes Please answer all the ques $ons below. No $ce that each correct answer is worth 1.5 points. Each wrong answer implies a deduc $on of -0.25 points. 1.A Company selling kitchen appliances segments its market into heavy users and occasional users. Which typology of segmenta $on approach is the Company applying? (1.5 Points) By product By customer characteris $cs By customer behavior By customer needs 2.Brand image can be de fined as: (1.5 Points) How the customer perceives the brand The company’s promise to its target customers How the company wants to be perceived Which principles the company wants to represent 3.What has to be included in the “Key Resources” building block of the Business Model Canvas:Immersive Reader (1.5 Points) A list of the resources the company has The strategic resources at the basis of the compe $$ve advantage of the company The financial and intangible resources of the company 4.A sustainable compe $$ve advantage: (1.5 Points) Is based on a di fferen $a$on advantage that can be hardly overcome by compe $ng companies Is possible only when a favorable foreseen external context where the stability of condi $ons makes the compe $$ve advantage achieved by the company stable over $me Has to be con $nuously nurtured by the company for keeping it in the long term 5.If a company pursues a “pro fit orienta $on” in pricing, which are its key pricing objec $ves? (1.5 Points) Volume, market share and growth rate Contribu $on margin, ROI and rapid recovery of R&D investments Volume and rapid recovery of R&D investments Crea $ng brand image, market share and cash flow 6.You have recently founded a micro-brewery in northern Italy and planned its first communica $on campaign. Therefore, you need to iden $fy the communica $on objec $ves. Which of the following objec $ves would be most relevant at this stage? (1.5 Points) Increasing a posi $ve a etude toward the product Increasing brand awareness Increasing brand loyalty Increasing customer sa $sfac $on 7.What are the 3 main values that entrepreneurs have to forecast in a business plan? (1.5 Points) Sales, Number of Employees, Amount of Debt Sales, Opera $ng Costs, Investments Sales, Opera $ng Costs, Cost of Debt Sales, Number of Employees, Investments 8.Which of the following statements about startups’ investors is WRONG? (1.5 Points) Business Angels may operate in group Venture Capitalists are professional and formal investors Venture Capitalists have a strict due diligence process before inves $ng None of the op $ons above 9.The SWOT analysis: (1.5 Points) Iden $fies the ac $on to be taken at the level of the business model of the company in order to increase the sustainability of its compe $$ve advantage Summarizes the results of internal and external analysis, suppor $ng the genera $on of strategic alterna $ves for crea $ng/improving a sustainable compe $$ve advantage of a company in a given business area Presents in a structured way the strategic alterna $ves available to a given company for crea $ng/improving its compe $$ve advantage 10.Which of the following can be de fined as primary ac $vi$es in Porter’s Value Chain model: (1.5 Points) Procurement, technology development, human resources management Inbound logis $cs, New Product Development, produc $on, marke $ng and sales Logis $cs, opera $ons and sales 11.The main goals of an external strategic analysis are: (1.5 Points) To u n d e r s t a n d t h e r e l a $onships between the company’s resources and the resources of compe $tors To i d e n $fy and describe the main opportuni $es and threats for the company To measure opportuni $es and threats for the company and translate them into key success factors 12.In running a startup, from the founder’s perspec $ve: (1.5 Points) It’s be ler to involve external people (e.g., investors, advisors) in the capital structure since the beginning; It’s be ler to preserve the majority of the shares as long as possible; Avoiding the Exit is always a posi $ve move; Asking for huge amount of money at the beginning may signal the goodness of the startup’s itself to the market, thus it is bene ficial for the founder 13.How are digitally-based disrup $ve innova $ons adopted compared to tradi $onal innova $ons? (1.5 Points) Their adop $on is much quicker than tradi $onal ones Their adop $on is quicker than tradi $onal innova $ons, but slower than other disrup $ve innova $ons Their adop $on is much quicker than tradi $onal ones, as long as trial users are the majority 14.Which of the following media is usually NOT part of the Owned Media Mix? (1.5 Points) Social media fanpage Email databases TV commercials Website 15.What do we mean by organic growth? (1.5 Points) A growth based on the increased sales in the market segment where the company is already present A growth based on the self- financing, i.e. on the use of financial resources internal to the company for expanding extant businesses A growth based on the internal development of the resources needed to establish a new business area 16.Formal Investors: (1.5 Points) Tend to invest more money than informal investor; Onen perform a “due diligence” ac $vity on the target; Usually do not enter in very ini $al phase of life of a startup; All of the above 17.One of the main advantages of conglomerate por polios is in the so-called bank e ffect, i.e.: (1.5 Points) The fact that large companies with unrelated business might nego $ate favorable condi $ons for their financing through the banking system The fact that conglomerate por polios, through centralized management of cash flows, might balance the financial needs of di fferent business units The fact that seasonality of financial needs in a certain business can be faced through the presence of financial excess cash in counter-seasonal businesses 18.For which of the following services would you suggest using yield management as pricing method? (1.5 Points) Theatre $ckets Hairdresser service Restaurant meal Lawyer service 19.According to the Resource Based View, a firm’s ability to sustain a compe $$ve advantage over $me depends primarily on: (1.5 Points) The availability of intangible resources The availability of tangible or intangible resources, as long as they are hard to imitate or subs $tute The availability of tangible or intangible resources, as long as they are rare and valuable 20.When a company increases the level of downward ver $cal integra $on, its bargaining power rela $ve to the suppliers will likely: (1.5 Points) Increase Decrease Remain the same NB: in ques ,on 20 the meaning of DOWNWARD ver ,cal integra ,on is BACKWARD ver ,cal integra ,on (to the suppliers). We are 100% sure that the right answer is the red one.