MKT 340 CH. 2 QUESTIONS AND
CORRECT ANSWERS
the components of SWOT analysis include the following except which? ✅✅CORRECT ANSW-target
markets
segmentation
___, which includes services, constitutes the first of the 4 Ps ✅✅CORRECT ANSW-prouduct
___ excellence is when a firm focuses on having high perceived value and effective branding and
positioning ✅✅CORRECT ANSW-product
firms can maintain competitive advantage by ✅✅CORRECT ANSW-reinforcing the brand image
through merchandise, service, and promotion
___ is the element of the 4Ps responsible for communicating value to customers ✅✅CORRECT
ANSW-promotion
a firm can build sustainable competitive advantage ✅✅CORRECT ANSW-through some business
activities over a long period of time
when it ouperforms competition
When a company such as Singapore Airlines positions itself as a leader in technology, innovation,
quality, and _______ service it ensures that its competition will have difficulty meeting its standards.
these strategies have helped singapore airlines to remain profitable even as other airlines struggle to
survive. ✅✅CORRECT ANSW-customer
___ is the quantity of a market compromised by a specific entity ✅✅CORRECT ANSW-market
share
in portfolio analysis ✅✅CORRECT ANSW-management evaluates the firm's various products and
businesses
, management allocates its resources to products with the greatest potential to be profitable
Marketers strive for efficient operations to provide their customers with all of the following EXCEPT:
The merchandise they want
A lower delivered cost than their competitors
Low quality products
The correct quantity ✅✅CORRECT ANSW-Low quality
Efficiency is aimed at cost savings and smooth, accurate operations, and ensuring good value to their
customers
match the macro strategies for developing customer value with the specific actions that
organizations can take to achieve them. ✅✅CORRECT ANSW-customer excellence- loyalty
programs and superior service
operational excellence- excellent supply chain management, strong supplier relations, and human
resource management
product excellence- effective branding and positioning
locational excellence- high density of stores and closer proximity to customers
step 5 of the marketing plan involves: ✅✅CORRECT ANSW-evaluating the results of the strategy
and implementation program
STP includes which of the following ✅✅CORRECT ANSW-segmentation
positioning
a ____ competitive advantage is an advantage over the competition that is not easily copied and can
be maintained over a long period of time ✅✅CORRECT ANSW-sustainable
what do "threats" represent in SWOT analysis? ✅✅CORRECT ANSW-the negative aspects of the
company's external environment
some commonly used financial performance metrics include ✅✅CORRECT ANSW-profits
sales revenue
CORRECT ANSWERS
the components of SWOT analysis include the following except which? ✅✅CORRECT ANSW-target
markets
segmentation
___, which includes services, constitutes the first of the 4 Ps ✅✅CORRECT ANSW-prouduct
___ excellence is when a firm focuses on having high perceived value and effective branding and
positioning ✅✅CORRECT ANSW-product
firms can maintain competitive advantage by ✅✅CORRECT ANSW-reinforcing the brand image
through merchandise, service, and promotion
___ is the element of the 4Ps responsible for communicating value to customers ✅✅CORRECT
ANSW-promotion
a firm can build sustainable competitive advantage ✅✅CORRECT ANSW-through some business
activities over a long period of time
when it ouperforms competition
When a company such as Singapore Airlines positions itself as a leader in technology, innovation,
quality, and _______ service it ensures that its competition will have difficulty meeting its standards.
these strategies have helped singapore airlines to remain profitable even as other airlines struggle to
survive. ✅✅CORRECT ANSW-customer
___ is the quantity of a market compromised by a specific entity ✅✅CORRECT ANSW-market
share
in portfolio analysis ✅✅CORRECT ANSW-management evaluates the firm's various products and
businesses
, management allocates its resources to products with the greatest potential to be profitable
Marketers strive for efficient operations to provide their customers with all of the following EXCEPT:
The merchandise they want
A lower delivered cost than their competitors
Low quality products
The correct quantity ✅✅CORRECT ANSW-Low quality
Efficiency is aimed at cost savings and smooth, accurate operations, and ensuring good value to their
customers
match the macro strategies for developing customer value with the specific actions that
organizations can take to achieve them. ✅✅CORRECT ANSW-customer excellence- loyalty
programs and superior service
operational excellence- excellent supply chain management, strong supplier relations, and human
resource management
product excellence- effective branding and positioning
locational excellence- high density of stores and closer proximity to customers
step 5 of the marketing plan involves: ✅✅CORRECT ANSW-evaluating the results of the strategy
and implementation program
STP includes which of the following ✅✅CORRECT ANSW-segmentation
positioning
a ____ competitive advantage is an advantage over the competition that is not easily copied and can
be maintained over a long period of time ✅✅CORRECT ANSW-sustainable
what do "threats" represent in SWOT analysis? ✅✅CORRECT ANSW-the negative aspects of the
company's external environment
some commonly used financial performance metrics include ✅✅CORRECT ANSW-profits
sales revenue
