Question: 1. What does optimal mean in the optimal value proposition? Select one: A. Exceeding the expectations of all three participantscustomers, collaborators, and the company itself.
1.
What does "optimal" mean in the optimal value proposition?
Select one:
A.
Exceeding the expectations of all three participantscustomers, collaborators, and the company itself.
B.
Delivering an averaged value that is acceptable, even if one or two parties aren't satisfied.
C.
Equalizing value outcomes for all participants, even if that means none meet their goals.
D.
Maximizing value for the company while meeting the minimum needs of customers and collaborators.
E.
Creating value for target customers and collaborators in a way that enables the company to achieve its strategic goals.
2.
Why are the elements of the marketing mix considered tactical efforts rather than strategic?
Select one:
A.
They are so routinized in most industries that upper management doesn't pay much attention to them.
B.
They are implemented by nonmanagerial employees.
C.
They define the specific way the firm will deliver on the strategic promise of the value proposition.
D.
They are easily outsourced and therefore not of strategic importance.
E.
They don't offer any opportunity for competitive differentiation.
3.
What is the function of incentives in the marketing mix?
Select one:
A.
To overcome inadequacies in the product element of the marketing mix.
B.
To enhance the value of the offering by lowering its costs.
C.
To communicate about the offering to customers or collaborators.
D.
To enhance the value of the offering by lowering its costs or increasing its benefits.
E.
To enhance the value of the offering by increasing its benefits.
4.
Which of these is an important limitation of the traditional Four Ps model of marketing planning?
Select one:
A.
It is difficult to remember.
B.
It regards brand as part of the product, rather than as a separate entity.
C.
It doesn't work for intangible product offerings.
D.
It doesn't include pricing.
E.
It combines communication and distribution as one element.
5.
What quantity do temporal benchmarks focus on?
Select one:
A.
Inventory turnover
B.
Economic variables
C.
Production costs
D.
Tactics
E.
Time
6.
A goal to achieve $20 million in sales in the coming year is which type of benchmark?
Select one:
A.
Metric
B.
Quantitative, absolute
C.
Temporal
D.
Quantitative, relative
E.
Tactical
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