Chapter 2

Question 1

What is sustainable competitive advantage?

a. A broad description of the firm’s objectives and the scope of its activities
b. Tool used to evaluate marketing performance
c. Something the firm can constantly do better than its competitors, not easily copied
d. Writtten document that discusses competitor strengths and weaknesses, adn the firms advantages over them

Answer 1

c. Something the firm can constantly do better than its competitors, not easily copied

Question 2

Customer excellence focuses on?

a. Having products with high perceived value and effective branding and positioning
b. Develops value-based strategies for retaining loyal customers and providing excellent customer service
c. Having a good physical location and internet presence
d. Efficient operations and excellent supply chain, and human resources

Answer 2

b. Develops value-based strategies for retaining loyal customers and providing excellent customer service

Question 3

Which of the following refers to a group of consumers who responds similarly to a firm’s marketing efforts?
a. Market segment
b. Target market
c. Targeting
d. Positioning

Answer 3

a. Market segment

Question 4

One of the keys in place and value delivery is to provide the consumer _______.

a. A wide product selection
b. Merchandise they want at the time they want it
c. A variety of media communication methods
d. accessible management personnel to handle complaints

Answer 4

b. Merchandise they want at the time they want it

Question 5

Which of the following in NOT considered a marketing growth strategy?

a. Market penetration
b. Diversification
c. Product development
d. Sequential planning

Answer 5

d. Sequential planning

Question 6

A diversification strategy introduces a new product or service to a segment that _____?

a. Is currently not served
b. Includes many ethnicities
c. Already exists
d. Does not traditionally respond to mixed media

Answer 6

a. Is currently not served