1. Porters Five Forces are effective at:

   • Developing a strategy to increase profitability at your company
   • Making you less vulnerable to becoming irrelevant in the eyes of consumers
   • Preventing a decline in profitability
   • All of the above

2. Strategy is about making choices about where and how you will compete. Which of the following question(s) are involved in this process?

   • What will you as a company do?
   • What will you not do as a company?
   • How will you create advantage over the competition?
   • All of the above.

3. Which is the most important reason to have a clear strategy?

   • because resources are in endless supply.
   • because resources are limited and scarce.
   • to give a foundation for a better budget.
   • to make the most profit as possible.

4. The Four Ps of Marketing Are

   • Positioning, Production, Price and Placement
   • Price, Product, Placement and Promotion
   • Population, Production, Placement and Promotion
   • Price, Positioning, Product and Packaging

5. Which of the following IS NOT one of the four types of value?

   • Social Media Value
   • Monetary Value
   • Functional Value
   • Psychological Value

6. Advertising, Branding, Positioning, Targeting, Segmentation are all _______ of and, as such, should always come after you develop a proper strategy

   • Aspects
   • Tools
   • Tactics
   • Advantages

7. What are some reasons why Market Research can fail?

   • No clear objective
   • Targeting the wrong respondents
   • A failure to identify good suggestions
   • All the above