1. True or False: How quickly a new product will be accepted by customers and how quickly competitors will follow with their own version of a product are important factors when planning the best strategy for a new product. Explain.

2. What is the difference between strategic management and strategic marketing? Explain.

3. What is dynamic pricing and what are its potential benefits? Explain.

4. True or false: A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces. Explain your answer.

5. The discipline of marketing puts great emphasis on the importance of target markets. Why is this important to marketing? Explain.

6. What are the benefits and drawbacks of internet advertising? Explain.

7. How is the typical consumer purchase decision process different from that of the typical organizational buyer?

8. What is secondary data? When compared to primary data, what are its advantages and disadvantages for marketing researchers?

9. When a firm 'thinks strategically', it seeks ways for each of its activities to add value for its customers. How does marketing add value to a product or a firm? Explain.

10. What's the difference between a "pull" promotion and a "push" promotion? Who are the targets of each? Explain.