TRUE OR FALSE: 1) A good positioning strategy is based on the firms perception of their strongest product benefits 2) Maytag appliances has bult their positioning strategy around the "lonely repairman" that has nothing to do because their products do not malfunction often. This emphasizes product features and serviceability 3) Services, such as service reliability, responsiveness and empathy can be a good way for companies to differentiate from competitors 4) A strong brand name can enhance consumer perceptions of product quality 5) The basis for a strong positioning strategy is determining what is important and of value to the target market 6) A cost based pricing strategy is inefficient at creating value for the customer because it does not take into account what the customer is wiling to pay for the product and/or competitors pricing 7) Life-cycle value pricing does not account for the total cost of ownership of the product when the firm sets the price 8) Skim pricing is the best towards the decline stages of the product life cycle, as a last ditch effort to raise the price and gain profits as sales decrease 9) Penetration pricing is effective in the growth stage of the product life cycle, as competitors enter and differentiation between brands start to diminish 10) Companies should consider how changes in the price of one of their products may affect sales and profits of another similar product in its product line. 11) A firm's distribution strategy requires creating positive value for both the end consumer and channel intermediaries, such as retailers that will carry the product 12) The primary objective of a marketing channel is to reach as many people as possible in all segments of the market 13) Company websites do not only generate sales, online channels are used as a source of information for consumers that make their purchases in offline channels such as brick and mortar stores 14) In direct marketing channels, a company sells both directly to the consumer and through intermediaries 15) When brands use an indirect channel, they don't need to think about the intermediaries, retailers reputation since the retailers is the only company dealing directly with the end customer 16) Brand information communications are designed to motivate immediate purchases of product 17) The most significant change in marketing communications recently has been the advent explosion of digital and social media 18) The main objectives of marketing communications are to build awareness, create interest, and motivate consumers to buy 19) Digital channels are always the best choice of media because they are less costly than traditional channels and have a great reach 20) The creation of advertising copy is extremely important because, if it received positively, it can have long-term carryover and increase sales in the future