PHAR 460: Chapter 14 Strategic Positioning and SWOT Analysis

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What is strategic positioning concerned with?

The impact of the external environment, internal resources and competences, and the expectations and influence of stakeholders (correct)

Only the internal resources and competences of an organization

The financial performance of the organization

The cultural and political framework of the organization only

What is the purpose of determining an organization's strategic position?

To assess the organization's financial performance

To make strategic choices that need to be made and implemented (correct)

To evaluate the organization's marketing strategy

To identify the organization's strengths and weaknesses

What should an organization consider when assessing its strategic position?

The future and whether the current strategy is suitable (correct)

Only the current strategy

The organization's competitors

The organization's employees' opinions

What is a key element of strategic positioning?

Identification of management tools Signup and view all the answers

What is the role of leadership in strategic positioning?

To determine the organization's strategic position Signup and view all the answers

What is the relationship between strategic positioning and risk assessment?

Risk assessment is a part of strategic positioning Signup and view all the answers

What is the outcome of strategic positioning?

An understanding of the organization's strategic position Signup and view all the answers

What is the significance of strategic positioning in the strategic management process?

It is a critical part of the process Signup and view all the answers

Which strategy is recommended for the Mini-Mini segment?

Reduce both weaknesses and threats Signup and view all the answers

What is the main purpose of Inbound Logistics?

Receiving, storing, and disseminating inputs Signup and view all the answers

What is the strategy for the Mini-Maxi segment?

Minimize weaknesses and maximize opportunities Signup and view all the answers

What is the name of the segment where the opportunity exists but requires strength where the organization currently has a weakness?

Mini-Maxi Signup and view all the answers

What is the purpose of Operations in Porter's Value Chain Model?

Transforming inputs into outputs Signup and view all the answers

What is the purpose of Outbound Logistics in Porter's Value Chain Model?

Distributing products to customers Signup and view all the answers

What is the strategy for the Maxi-Mini segment?

Use strengths to deflect threats Signup and view all the answers

What is the purpose of Sales and Marketing in Porter's Value Chain Model?

Providing opportunities for customers to buy Signup and view all the answers

What is one advantage of being a first mover in gaining market share?

Capturing significant market share before competitors enter the market Signup and view all the answers

What is a disadvantage of being a first mover?

You pay the costs of educating the market and marketing for other second or third to market companies Signup and view all the answers

What is one benefit of having a brand?

Customers trust your products and services due to consistency Signup and view all the answers

What is one operational and technological advantage of pharmacy services?

Efficiency and Convenience Signup and view all the answers

What is one type of strategic position in pharmacy services?

Operational and technological advantages Signup and view all the answers

What is one example of proprietary products, technology, and abilities or relationships in pharmacy services?

Exclusive Product Offerings Signup and view all the answers

What is one advantage of branding strategy?

It gives customers trust in your products and services Signup and view all the answers

What is one disadvantage of branding strategy?

It is usually expensive Signup and view all the answers

What is the primary focus of the 'Services' component of the value chain?

Providing support to customers through various means Signup and view all the answers

Which of the following activities is NOT a part of the 'Admin. & Infrastructure' component?

Product development and design Signup and view all the answers

What is the primary purpose of the BCG matrix?

To analyze the product portfolio and distinguish between cash generators and cash consumers Signup and view all the answers

What is the characteristic of a 'Cash Cow' in the BCG matrix?

High market share and low growth potential Signup and view all the answers

What is the primary focus of the 'Product/Technology Development' component?

Enhancing the technology of the product or service Signup and view all the answers

What is the primary focus of the 'Procurement' component?

Supporting the procurement of inputs for all activities Signup and view all the answers

What is the primary benefit of the 'Cash Cow' products or divisions?

They generate significant revenue Signup and view all the answers

What is the primary goal of the organization in relation to 'Cash Cow' products or divisions?

To increase their profit and extend their lifetime Signup and view all the answers

What is the role of the mission and vision in the organization as a tree analogy?

They provide the nutrients that feed the tree Signup and view all the answers

What is the purpose of the matrix in the organization as a tree analogy?

To select which projects and products to support Signup and view all the answers

What is the best quadrant in the organization as a tree analogy?

G-G Signup and view all the answers

What are the three key aspects of strategic position?

The external environment, the organization's strategic capability, and culture and ethical values Signup and view all the answers

What is the key to understanding strategic position?

Being aware of the linkages between the three key aspects Signup and view all the answers

What is the outcome of integrating the three key aspects of strategic position?

The creation of value Signup and view all the answers