Marketing Review
1. Strong supplier relations and efficient supply chains help firms such as Walmart to achieve operational excellence.
True False
2. To build a sustainable competitive advantage, companies should focus on a single strategy.
True False
3. It is not always necessary to go through all the steps in the marketing planning process.
True False
4. A mission statement describes the specific actions a firm will take to achieve its goals.
True False
5. iTunes software is often credited for the success of the Apple iPod MP3 player, because it made the iPod easier to use than competing players, and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage.
True False
6. STP refers to segmentation, testing, and promotion.
True False
7. The components of a SWOT analysis are Strengths, Weaknesses, Opportunities and Tactics.
True False
8. Firms are typically more successful when they focus on opportunities that build on their competitors' strengths.
True False
9. Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a Weakness.
True False
10. Price should be based on the value that the customer perceives.
True False
11. Geraldo manages the electrical turbine engine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Geraldo manages a strategic business unit. True False
12. The marketing planning process always proceeds sequentially through the five steps.
True False
13. Isaac is looking for ways to offer new goods and services to his existing customers. He is pursuing a market development strategy.
True False
14. Sandisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In
True False
2. To build a sustainable competitive advantage, companies should focus on a single strategy.
True False
3. It is not always necessary to go through all the steps in the marketing planning process.
True False
4. A mission statement describes the specific actions a firm will take to achieve its goals.
True False
5. iTunes software is often credited for the success of the Apple iPod MP3 player, because it made the iPod easier to use than competing players, and was difficult for competitors to duplicate. This is an example of a sustainable competitive advantage.
True False
6. STP refers to segmentation, testing, and promotion.
True False
7. The components of a SWOT analysis are Strengths, Weaknesses, Opportunities and Tactics.
True False
8. Firms are typically more successful when they focus on opportunities that build on their competitors' strengths.
True False
9. Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a Weakness.
True False
10. Price should be based on the value that the customer perceives.
True False
11. Geraldo manages the electrical turbine engine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Geraldo manages a strategic business unit. True False
12. The marketing planning process always proceeds sequentially through the five steps.
True False
13. Isaac is looking for ways to offer new goods and services to his existing customers. He is pursuing a market development strategy.
True False
14. Sandisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In