MKT 4385 EXAM 2 QUESTIONS WITH VERIFIED
ANSWERS
A price value proposition generally consists of all of the approaches below except:
a. scale economies
b. no frills product/service
c. delivery of superior customer service
d. exprience curve - Answers - c. delivery of superior customer service
focused on price value, offers mid market range product at best price for its offering
A value propsition tends to be all of the following except:
a. real
b. be percieved as real by customers
c. feasible
d. segmentable
e. relevant and sustainable - Answers - d. segmentable
value prop - innovation, service, feature meant to make company/product attractive to
customer
Firms that foucs on relational value as a a value proposition just need to provide good
functional benefits of their product or service (T/F) - Answers - False
customized set of solutions, customer intamicy and personaliziations or collab
Home Depot decided to pursue the value proposition of relational value, and hence
focused on its homeowner customers rather than professional contractors, as the latter
would be more strongly driver by performance and price. What would Home Depot do?
a. emphasize quality, tast, convenience, nutrition, or other functional attributes
b. emphasize low price
c. emphaisze personal touch, customization, and service
d. all of the above
e. none of the above - Answers - c. emphasize personal touch, customization, and
service
a - performance value
b - price value
The exceptional service available on Singapore Airlines is an example of raltional value
(T/F) - Answers - False
performance value - best product or service offering (service quality)
To have a good value proposition a company should maximize all three types of
customer value equally (T/F) - Answers - False
should focus on one
, Which of the following is not a type of value that can be offered by firms as their
customer value proposition:
a. performance value
b. asset value
c. price value
d. relational value - Answers - b. asset value
Sony showcases all of its product line together in stores and even on Celebrity Cruise
ships. The ships are outfitted with Sony entertainment products, including televsision
screens, movie theaters, and sound equipment. The result is an integrated package that
helps create and reinforce Sony's brand of providing high-quality and technologically
advanced entertainment. By doing the aboce, what is Sony trying to do?
a. Sony is exploiting synergy across its product line
b. Sony is engaged in Comprehensive Solution Management
c. Sony is offering novel sources of value that are not currently available in the market
place
d. Sony is offering service quality through a collection of intangible and tangible sources
of value - Answers - a. Sony is exploiting Synergy across its product line
While offering Price value, firms such as Vanguard, IKEA, Aldi, and Walmart work on all
the factors that customers consider when comparing total cost. Which of the following is
not one of the factors that customers consider when comparing total cost?
a. product reliability that lwoers further costs of ownership by avoiding repairs and
down-time
b. reliable service that reduces annoyance and uncertainty about delivery or reliability
c. convenience and availability that makes shopping easier
d. none of the above (all are correct) - Answers - d. none of the above (all correct)
A successful price value proposition is usually multifaceted and supported by a cost-
oriented culture (T/F) - Answers - True
A local grocery store would like to position the pre-made meals area of its store to excel
on performance. Which of the following approach do you recommend as the best path
to sustainable competitve advantage?
a. emphasize convenience, aim for parity with competitors on customization and price
b. emphasize low price, and aim for parity with competitors on customization and on
convenience
c. emphasize customization and aim for parity with compeptiors on convenience and
price
d. choose either a CRM or Comprehensive Solution Management System - Answers -
a. emphasize convience, aim for parity with competitors on customization and price
A company can create synergies by leveraging its assets for multiple uses and by
aligning its business model elements. (T/F) - Answers - True
ANSWERS
A price value proposition generally consists of all of the approaches below except:
a. scale economies
b. no frills product/service
c. delivery of superior customer service
d. exprience curve - Answers - c. delivery of superior customer service
focused on price value, offers mid market range product at best price for its offering
A value propsition tends to be all of the following except:
a. real
b. be percieved as real by customers
c. feasible
d. segmentable
e. relevant and sustainable - Answers - d. segmentable
value prop - innovation, service, feature meant to make company/product attractive to
customer
Firms that foucs on relational value as a a value proposition just need to provide good
functional benefits of their product or service (T/F) - Answers - False
customized set of solutions, customer intamicy and personaliziations or collab
Home Depot decided to pursue the value proposition of relational value, and hence
focused on its homeowner customers rather than professional contractors, as the latter
would be more strongly driver by performance and price. What would Home Depot do?
a. emphasize quality, tast, convenience, nutrition, or other functional attributes
b. emphasize low price
c. emphaisze personal touch, customization, and service
d. all of the above
e. none of the above - Answers - c. emphasize personal touch, customization, and
service
a - performance value
b - price value
The exceptional service available on Singapore Airlines is an example of raltional value
(T/F) - Answers - False
performance value - best product or service offering (service quality)
To have a good value proposition a company should maximize all three types of
customer value equally (T/F) - Answers - False
should focus on one
, Which of the following is not a type of value that can be offered by firms as their
customer value proposition:
a. performance value
b. asset value
c. price value
d. relational value - Answers - b. asset value
Sony showcases all of its product line together in stores and even on Celebrity Cruise
ships. The ships are outfitted with Sony entertainment products, including televsision
screens, movie theaters, and sound equipment. The result is an integrated package that
helps create and reinforce Sony's brand of providing high-quality and technologically
advanced entertainment. By doing the aboce, what is Sony trying to do?
a. Sony is exploiting synergy across its product line
b. Sony is engaged in Comprehensive Solution Management
c. Sony is offering novel sources of value that are not currently available in the market
place
d. Sony is offering service quality through a collection of intangible and tangible sources
of value - Answers - a. Sony is exploiting Synergy across its product line
While offering Price value, firms such as Vanguard, IKEA, Aldi, and Walmart work on all
the factors that customers consider when comparing total cost. Which of the following is
not one of the factors that customers consider when comparing total cost?
a. product reliability that lwoers further costs of ownership by avoiding repairs and
down-time
b. reliable service that reduces annoyance and uncertainty about delivery or reliability
c. convenience and availability that makes shopping easier
d. none of the above (all are correct) - Answers - d. none of the above (all correct)
A successful price value proposition is usually multifaceted and supported by a cost-
oriented culture (T/F) - Answers - True
A local grocery store would like to position the pre-made meals area of its store to excel
on performance. Which of the following approach do you recommend as the best path
to sustainable competitve advantage?
a. emphasize convenience, aim for parity with competitors on customization and price
b. emphasize low price, and aim for parity with competitors on customization and on
convenience
c. emphasize customization and aim for parity with compeptiors on convenience and
price
d. choose either a CRM or Comprehensive Solution Management System - Answers -
a. emphasize convience, aim for parity with competitors on customization and price
A company can create synergies by leveraging its assets for multiple uses and by
aligning its business model elements. (T/F) - Answers - True
