QUESTIONS AND SOLUTIONS FULL SCORE
A+
●● Divides the business into small, tightly knit strategic business units
(SBUs), which focus on specific elements of the organizational process.
Answer: Modular structure
●● The process or activities by which a company adds value to a
product, including production, marketing, and the provision of after-
sales service.
Answer: Value chain
●● A profit center that focuses on product offering and market segment.
Answer: Strategic business units (SBUs)
●● Company assets, attributes, or abilities that are difficult to duplicate
or exceed and provide a superior or favorable long-term position over
competitors.
Answer: Sustainable competitive advantage
●● Customer loyalty, location, distribution and information systems
(Getting products at a cheap price and selling them at a reasonable
,price), unique merchandise, vendor relations, customer service, and
multiple source advantage (being widely recognized by your strengths).
Answer: Factors that can help a business develop a sustainable
competitive advantage
●● The use of data in an enterprise to facilitate decision-making.
Answer: Business intelligence (BI)
●● Large, complex data sets that require non-traditional data processing
software to predict trends and forecasts.
Answer: Big data analytics
●● A written code of ethics and standards. Ethics training to executives,
managers, and employees. Availability of advice on ethical situations
(advice lines or ethics offices). A system for confidential reporting..
Answer: Four elements that make up ethical behavior within an
organization
●● The careful coordination of all promotional activities—media
advertising, sales promotion, personal selling, and public relations, as
well as direct marketing, packaging, and other forms of promotion—to
produce a consistent, unified message that is customer focused.
Answer: Integrated marketing communications (IMC)
,●● Identifying consumer needs and then producing the goods or services
that will satisfy those needs while making a profit for the organization.
Answer: Marketing concept
●● Advertising, sales promotion, and publicity, or creating new sales
channels or new products.
Answer: Promotional techniques
●● The combination of advertising, personal selling, sales promotion,
and public relations used to promote a product.
Answer: Promotional mix
●● The model assumes consumers are passive and marketers are active
during most of the buying process..
Answer: The main limitation of the AIDA model
●● The AIDA model assumes that the customer experience ends at the
purchase while the six-step process considers the after-purchase
relationship with the customer..
Answer: What is the main difference between the AIDA model of the
buyer's journey and the six steps model of the buying process?
●● Focuses on short-term, often single, transactions..
Answer: Transactional selling
, ●● Focused on long-term relationship building to keep customers
satisfied and consequently convince them to return and make multiple
purchases..
Answer: Relationship selling
●● Using social styles to customize a sales approach to the specific
customer.
Answer: Adaptive selling
●● A model that categorizes people according to personality traits and
how they interact with others.
Answer: Social style matrix
●● Focus on "how,"include facts, do not challenge their facts,
demonstrate results, mention guarantees and warranties, give them time
to decide, communicate the pros and cons, and provide history, data,
financial details. Low responsiveness and low assertiveness.
Answer: Analyticals
●● Focus on "what," get to the point quickly, provide options, use facts,
focus on results, provide timelines, and make them feel in control. Low
responsiveness and high assertiveness.
Answer: Drivers