final exam
351
10. Positioning is a strategic component of the marketing mix that helps you determine: (a) How you will differentiate your company and/or products in the marketplace (b) Where you stand when compared to your competitors (c) Where you stand in the minds of consumers (d) All of the above (e) None of the above 11. A value proposition refers to: (a) Your company’s pricing strategy (b) Employee benefits programs (c) Why a prospective buyer should choose you over your competition (d) All of the above 12. Three types of benefits described by Jack Trout and Al Reis are: (a) Functional, psychographic, and experiential (b) Profit, time, and productivity (c) Functional, experiential, and symbolic (d) None of the above 13. The downside of skimming strategies is: (a) They have a low profit margin (b) That skimmable markets attract competitors (c) They take a long time to return value (d) None of the above 14. Penetration pricing strategy is characterized by: (a) Competitive analysis (b) Low pricing (c) Strong customer relationships (d) Wide profit margins 15. People are considered part of the marketing mix because: (a) They contribute to a company’s bottom line (b) They use training and development resources (c) They work for the marketing department (d) They are a source of differentiation and competitive advantage (e) All of the above