Marketing Question and Anaswers

1. ____________ is the element of the 4 PS responsible for communicating value to the customers.

1. Promotion

1. Identify the following items included in a SWOT analysis?

1. Threats, Opportunities and Weaknesses

1. In ___________ analysis, management evaluates the firm’s various products and businesses, and then allocates resources according to the potential profit outlook.

1. Portfolio

1. ___________ excellence is when a firm focuses on having high perceived value and effective branding and positioning.

1. Product

1. The components of SWOT analysis include the following except which two?

1. Segmentation, Target markets

1. Match the macro strategies for developing customer value with the specific actions that organization can take to achieve them.

1. Customer Experience – Loyalty programs and superior service

Operational Excellence – Excellent supply chain management, strong supplier relations, and human resource management.

Product Excellence – Effective branding and positioning

Locational Excellence – High density of stores and closer proximity to customers

1. Place is the component of the four P’s responsible for ____________ value

1. Delivering

1. A firm can build sustainable competitive advantage:

1. When it outperforms the competition

Through some business activities over a long period of time

1. A __________ competitive advantage is an advantage over the competition that is not easily copied and can be maintained over a long period of time.

1. Sustainable

1. Which of the following is the primary question a mission statement should answer?

1. What type of business are we?

1. Loyalty programs:

1. Give firms the opportunity to learn more about their customers

1. STP includes which of the following?

1. Segmentation, Positioning

1. Which of the following strategies are frequently used to achieve locational excellence?

1. High density of stores

Closer proximity to customers

1. A suitable competitive advantage

1. Is when a firm does consistently better than its competitors and it is not easily copied

1. Once a marketer has earned a good service reputation, it can sustain this advantage for a long time because:

1. A competitor is hard pressed to develop a comparable reputation

1. Which one the following are examples of strengths that might be identified in a SWOT analysis?

1. Licensing of a brand

A strong network of retailers

1. Firms achieve operational excellence through which of the following?

1. Strong relationships with suppliers

Excellent supply chain management

Efficient operations

1. Which of the following strategies are frequently used to achieve locational excellence?

1. Closer proximity to customers

High density of stores

1. When a company focuses on having __________ excellence it may also focus on having good internet presence

1. Locational

1. Once a marketer has earned a good service reputation, it can sustain this advantage for a long time because:

1. A competitor is hard pressed to develop a comparable reputation

1. Brand _________ means that customers are reluctant to patronize competing firms

1. Loyalty

1. Which of the following are true regarding market share?

1. It defines a product strength in a particular market

It is the percentage of a market accounted for by a specific entity.