MKT 4385 EXAM 2 REVIEW 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. Experience curve - Answers - c. Delivery of superior customer service
A value proposition needs to be all of the following, except ...
a. real
b. be perceived as real by customers
c. feasible
d. segmentable
e. relevant and sustainable - Answers - b. be perceived as real by customers
(T/F) Firms that focus on relational value as a value proposition just need to provide
good functional benefits of their product or service. - Answers - False
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 driven by performance and price. What would Home Depot do
...
a. emphasize quality, taste, convenience, nutrition, or other functional
attributes
b. emphasize low price
c. emphasize personal touch, customization, and service.
d. All of the above.
, e. None of the above. - Answers - c. emphasize personal touch, customization, and
service.
(T/F) The exceptional service available on Singapore Airlines is an example of relational
value. - Answers - False
(T/F) To have a good value proposition a company should maximize all three types of
customer value equally. - Answers - False
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
(T/F) A successful price value proposition is usually multifaceted and supported by a
cost-oriented culture. - 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 competitive 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 competitors on convenience and
price.
d. choose either a CRM or Comprehensive Solution Management System. - Answers -
a. emphasize convenience, aim for parity with competitors on customization and price
(T/F) A company can create synergies by leveraging its assets for multiple uses and by
aligning its business model elements. - Answers - True
Customer experiences in the post-purchase phase of the customer experience journey
could relate to ...
a. information gathering.
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. Experience curve - Answers - c. Delivery of superior customer service
A value proposition needs to be all of the following, except ...
a. real
b. be perceived as real by customers
c. feasible
d. segmentable
e. relevant and sustainable - Answers - b. be perceived as real by customers
(T/F) Firms that focus on relational value as a value proposition just need to provide
good functional benefits of their product or service. - Answers - False
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 driven by performance and price. What would Home Depot do
...
a. emphasize quality, taste, convenience, nutrition, or other functional
attributes
b. emphasize low price
c. emphasize personal touch, customization, and service.
d. All of the above.
, e. None of the above. - Answers - c. emphasize personal touch, customization, and
service.
(T/F) The exceptional service available on Singapore Airlines is an example of relational
value. - Answers - False
(T/F) To have a good value proposition a company should maximize all three types of
customer value equally. - Answers - False
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
(T/F) A successful price value proposition is usually multifaceted and supported by a
cost-oriented culture. - 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 competitive 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 competitors on convenience and
price.
d. choose either a CRM or Comprehensive Solution Management System. - Answers -
a. emphasize convenience, aim for parity with competitors on customization and price
(T/F) A company can create synergies by leveraging its assets for multiple uses and by
aligning its business model elements. - Answers - True
Customer experiences in the post-purchase phase of the customer experience journey
could relate to ...
a. information gathering.
