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Strategic Planning for Competitive Advantage Exam

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Strategic Planning for Competitive Advantage Exam
Chapter 2—Strategic Planning for Competitive Advantage

TRUE/FALSE

1. The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.

ANS: F
Such a short-range decision is typically a tactical plan or operating decision, not a strategic plan.

PTS: 1 OBJ: 02-1 TOP: AACSB Reflective Thinking
KEY: CB&E Model Strategy MSC: BLOOMS Level III Application

2. Berkshire Hathaway Inc., a large property insurance company, owns a large chain of jewelry stores and has recently purchased Russell Corporation, a manufacturer of sporting goods. Berkshire Hathaway uses a market penetration strategy.

ANS: F
Berkshire Hathaway uses a diversification strategy.
PTS: 1 OBJ: 02-3 TOP: AACSB Reflective Thinking
KEY: CB&E Model Strategy MSC: BLOOMS Level III Application

3. When the Internet auction company eBay opened a version of the company called eBay France for the French market, it was an example of market penetration.

ANS: F
Market penetration is the strategy of selling more to the existing customers. This is an example of a market development strategy, which is attracting new customers to existing products.

PTS: 1 OBJ: 02-3 TOP: AACSB Reflective Thinking
KEY: CB&E Model Strategy MSC: BLOOMS Level III Application

4. A market penetration strategy entails the creation of new products for current customers.

ANS: F
This is an example of product development strategy. A market penetration strategy in one that tries to increase market share among existing customers.

PTS: 1 OBJ: 02-3 TOP: AACSB Reflective Thinking
KEY: CB&E Model Strategy MSC: BLOOMS Level I Knowledge

5. The Home Depot’s purchase of Hughes Supply Company allows it to better meet the needs of its current business customers. This is an example of product development.

ANS: T PTS: 1 OBJ: 02-3
TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy
MSC: BLOOMS Level III Application

6. When a florist shop begins to sell burial
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