Competitive Advantage 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. What is marketing myopia?

Question 2 2. 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 3 3. What is the overall sacrifice a consumer is willing to make to acquire a specific product or service?

Question 4 4. What are the four different strategic alternatives?

Question 5 5. Which of these products would be classified as a star on the portfolio matrix ?

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Question 6 6. Which of the following is an example of a company using a niche competitive marketing strategy?

Question 7 7. What is a strategic alternative?

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

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Question 11 11. Which of the following is not considered to be part of the product?

Question 12 12. Which of the following is a strategy when a company pursues the development of a new product for a current market?

Question 13 13. Which of the following is an example of competitive advantage?

Question 14 14. Assess the strategy that is used to increase sales by creating new products that can be targeted to new markets.

Question 15 15. What is included in promotional strategies?

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Question 16 16. How does a business mission statement relate to marketing?

Question 17 17. What type of market segmentation strategy is used by Disney?

Question 18 18. Evaluate the effect of market penetration.

Question 19 19. How does a large company place its SBU's on the portfolio matrix ?

Question 20 20. What question should a business mission statement answer?

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Question 21 21. The four types of promotion are

Question 22 22. Brenda's Beauty Salon offers customers a _____.

Question 23 23. What is a marketing strategy that is based on attracting new customers to current products?

Question 24 24. Which part of the marketing mix is the most flexible and easiest to change?

Question 25 25. What question does a business mission statement answer?

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Question 26 26. The price of a product includes _____

Question 27 27. Which of the following would a company do when it decides to 'harvest' a product made by an SBU?

Question 28 28. If a manufacturer of candy decides to open a theme park, this would be an example of a _____ strategic alternative.

Question 29 29. What is environmental scanning?

Question 30 30. 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?

Competitive Advantage 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!

Business 102: Principles of Marketing  /  Business Courses
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