MARK 4900 Exam Latest Updated 2025 With Complete Solutions
Four dimensions that define an effective business strategy - ANSWER-1.
the product-market investment strategy
2. the customer value proposition
3. the assets and competencies
4. the functional strategies and programs
Where to compete: - ANSWER-product market investment decision
How to compete - ANSWER-value proposition, the assets and
competencies, and the functional strategies and programs
Product Market Investment Decision - ANSWER-- Product market scope
- Investment Intensity
Resource allocation over business units
Which sectors should receive investments in resources and management
attention? Which should have resources withdrawn or withheld?
,Customer value - ANSWER-the difference between the benefits customers
perceive they are getting from an offering minus the perceived cost of
obtaining these benefits—adjusted for the riskiness of the offering
Customer Value = [1− Perceived Risk] × [Perceived Benefits − Perceived
Costs]
Customer Value Proposition - ANSWER-a clear statement about what
sources of distinctive value the business wants to offer the customer.
Functional Area Strategies - ANSWER-Product
Price
Distribution
....etc
What is strategic marketing (management)? - ANSWER-A system designed
to help management both precipitate and make strategic decisions, as
well as create strategic visions.
Steps in strategic marketing (management) - ANSWER-1) finding the
organization's goals;
,2) identifying/framing opportunities;
3) formulating product market strategies;
4) budgeting resources; and
5) developing reformulation and recovery strategies.
Strategists need to develop competencies around 5 management tasks -
what are they? - ANSWER-1. strategic analysis
2. innovation
3. getting control of multiple business units
4. developing sustainable competitive advantages (SCAs)
5. developing growth platforms
Strategic Analyis - ANSWER-The need for information about customers,
competitors, and trends affecting the market
The information needs to be continuous and not tied to a planning cycle,
because a timely detection of threats, opportunities, strategic problems,
or emerging weaknesses can be crucial to getting the response right
, Basis of Sustainable Competitive Advantage - ANSWER-
Assets/competencies
Synergies
Successful strategic business units need.... - ANSWER-sustainable
competitive advantages (SCAs)
Fundamental choices for SCAs - ANSWER-- Differentiation
- Low cost
- Focus (buyer group, product line, etc)
- Preemptive move (first mover advantage)
- Synergy (combination of two businesses creates value)
Budgeting - ANSWER-Managing complexity & controlling deviations
Long range planning - ANSWER-Managing complexity and anticipating
growth (past trends continue into future)
Strategic planning - ANSWER-extends beyond long-range planning to
include emphasis on firm's environment. In-depth knowledge of
Four dimensions that define an effective business strategy - ANSWER-1.
the product-market investment strategy
2. the customer value proposition
3. the assets and competencies
4. the functional strategies and programs
Where to compete: - ANSWER-product market investment decision
How to compete - ANSWER-value proposition, the assets and
competencies, and the functional strategies and programs
Product Market Investment Decision - ANSWER-- Product market scope
- Investment Intensity
Resource allocation over business units
Which sectors should receive investments in resources and management
attention? Which should have resources withdrawn or withheld?
,Customer value - ANSWER-the difference between the benefits customers
perceive they are getting from an offering minus the perceived cost of
obtaining these benefits—adjusted for the riskiness of the offering
Customer Value = [1− Perceived Risk] × [Perceived Benefits − Perceived
Costs]
Customer Value Proposition - ANSWER-a clear statement about what
sources of distinctive value the business wants to offer the customer.
Functional Area Strategies - ANSWER-Product
Price
Distribution
....etc
What is strategic marketing (management)? - ANSWER-A system designed
to help management both precipitate and make strategic decisions, as
well as create strategic visions.
Steps in strategic marketing (management) - ANSWER-1) finding the
organization's goals;
,2) identifying/framing opportunities;
3) formulating product market strategies;
4) budgeting resources; and
5) developing reformulation and recovery strategies.
Strategists need to develop competencies around 5 management tasks -
what are they? - ANSWER-1. strategic analysis
2. innovation
3. getting control of multiple business units
4. developing sustainable competitive advantages (SCAs)
5. developing growth platforms
Strategic Analyis - ANSWER-The need for information about customers,
competitors, and trends affecting the market
The information needs to be continuous and not tied to a planning cycle,
because a timely detection of threats, opportunities, strategic problems,
or emerging weaknesses can be crucial to getting the response right
, Basis of Sustainable Competitive Advantage - ANSWER-
Assets/competencies
Synergies
Successful strategic business units need.... - ANSWER-sustainable
competitive advantages (SCAs)
Fundamental choices for SCAs - ANSWER-- Differentiation
- Low cost
- Focus (buyer group, product line, etc)
- Preemptive move (first mover advantage)
- Synergy (combination of two businesses creates value)
Budgeting - ANSWER-Managing complexity & controlling deviations
Long range planning - ANSWER-Managing complexity and anticipating
growth (past trends continue into future)
Strategic planning - ANSWER-extends beyond long-range planning to
include emphasis on firm's environment. In-depth knowledge of
