1. IKEA emphasizes self-service and customer pickup and delivery.

Identify the approach that

IKEA is using to develop competitive advantage.

customer focus

advantage

differentiation advantage

price-based advantage

brand-based advantage

1 points   

QUESTION 2

1. The ________ communicates the reasons to buy a product/ service to a specific customer

group.

mission

core strategy

marketing mix

objective

1 points   

QUESTION 3

1. Which of the following statements is true regarding the maturity stage of the product life

cycle?

During this stage, the market grows rapidly.

Usually, competition is most intense in this phase.

Many new competitors enter the market.

This stage comes after the introduction stage.

1 points   

QUESTION 4
1. The value of a brand name in communicating quality or other aspects of the product is

called:

value equity.

brand equity.

brand position.

strategic value.

1 points   

QUESTION 5

1. The best method of attaining a low-cost position is to:

take advantage of economies of scale and experience curve.

take advantage of global raw material acquisition.

take advantage of non-union workers.

send production to low-wage countries.

1 points   

QUESTION 6

1. When a marketing manager is dissatisfied with the current positioning of his/her product or

service and seeks a new perceived advantage, it is called:

brand positioning

perceptual mapping

brand repositioning

brand extension

1 points   

QUESTION 7

1. When competitive advantage is cost- or price-based, it is necessary to know the ________ to

be sure that you can compete on this basis by matching price cuts.

cost of raw materials

 economic conditions

inflation rates

competitor's costs

1 points   

QUESTION 8

1. The value proposition is operationalized and represented in the customers' minds through:

the mission statement.

annual reports.

product positioning.

effective sales pitches.

1 points   

QUESTION 9

1. When marketing managers consider the alternative differentiation possibilities and

determine what differential advantages are to be emphasized and communicated to the target

customer, they are engaging in:

brand equity.

brand positioning.

product positioning.

product development.

1 points   

QUESTION 10

1. After reaching the mature stage, 3M's Scotch tape was extended through new dispensers

and the use of colored and waterproof varieties (varied usage). This is an example of:

skimming.
market penetration.

harvesting.

market development.