QUESTION 1

1. A ___________________________ charts the path by which products and services are created and eventually sold to customer.

   	A.	Supply Chain
   	B.	Resource Activity
   	C.	Value Chain
   	D.	Logistical Chain

10 points

QUESTION 2

1. An asset that is valuable, rare, difficult to imitate, and non-substitutable, best describes:

   	A.	a strategic resource
   	B.	a depleted resource
   	C.	a strategic asset
   	D.	a distinctive competence

10 points

QUESTION 3

1. Last year Burger King introduced the Impossible Whopper and McDonald's is expected to follow a similar strategy this year. Which theory does this best represent?

   	A.	Environmental determinism theory
   	B.	Enactment theory
   	C.	Institutional theory
   	D.	Transaction cost economic theory

10 points

QUESTION 4

1. Which of the following statements best describes the purpose of the marketing mix?

   	A.	Provide a strong alignment among the four Ps (product, price, place, and promotion) to offer customers a coherent and persuasive message.
   	B.	To be a creation of the mind, such as inventions, artistic products, and symbols.
   	C.	To act as a physical purchase point as well as a distribution channel.
   	D.	To serve as a legal decree that protect inventions from direct imitation for a limited period of time.

10 points

QUESTION 5

1. A ________________________________ is a set of activities that an organization performs especially well

   	A.	distinctive competence
   	B.	marketing mix
   	C.	value chain
   	D.	SWOT analysis