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Competitive Advantage: Marketing Lesson Plans Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Evaluate the effect of market penetration.

Question 2 2. Which part of the marketing mix is the most flexible and easiest to change?

Question 3 3. Tom works for a large marketing firm and wants to form a new strategy about how his firm should operate. Before forming it he wants to think about how he could maximise the capacity of his firm in comparison to the economic environment. How should he proceed in doing that?

Question 4 4. What should a very large company with many different business units do for their mission statement?

Question 5 5. What is environmental scanning?

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Question 6 6. The price of a product includes _____

Question 7 7. Which of the following is an example of competitive advantage?

Question 8 8. What type of market consists of a defined group most likely to buy a company's products or services?

Question 9 9. How does a large company place its SBU's on the portfolio matrix ?

Question 10 10. The marketing mix consists of

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Question 11 11. Which of the following is an example of a company using a niche competitive marketing strategy?

Question 12 12. What type of market segmentation strategy is used by Disney?

Question 13 13. What is the overall sacrifice a consumer is willing to make to acquire a specific product or service?

Question 14 14. Your company offers the best cars on the market at relatively affordable prices. You currently have no competitors regarding the features your cars have. Why is this an example of product differentiation?

Question 15 15. The four types of promotion are

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Question 16 16. Brenda's Beauty Salon offers customers a _____.

Question 17 17. Jamerson Marketing is the only company in the world that uses an example of both qualitative and quantitative analysis in order to create efficient marketing strategies. Due to this, they are the leading company in the field of marketing. Their competition work by using either qualitative or quantitive analysis. Why is this an example of a USP?

Question 18 18. What are the four different strategic alternatives?

Question 19 19. If a business created a mission statement that said, 'We will make products to make the world a better place,' then what type of mission statement development mistake has occurred?

Question 20 20. What is a strategic alternative?

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Question 21 21. What is marketing myopia?

Question 22 22. What question does a business mission statement answer?

Question 23 23. Which of the following would NOT be an external threat to a marketing manager?

Question 24 24. What question should a business mission statement answer?

Question 25 25. Which of these products would be classified as a star on the portfolio matrix ?

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Question 26 26. What is a niche competitive advantage?

Question 27 27. If a manufacturer of candy decides to open a theme park, this would be an example of a _____ strategic alternative.

Question 28 28. What is included in promotional strategies?

Question 29 29. How does a business mission statement relate to marketing?

Question 30 30. Thomas owns a large IT company. He attempts to gain an upper hand in the market by using very skilled workers and inexpensive raw materials. Overall, he is very focused on controlling the costs in order to maximize the value of his products to consumers. How is this an example of cost-competitive advantage?

Competitive Advantage: Marketing Lesson Plans Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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