In the context of marketing mix, which of the following aspects of customer value is closely associated with products? A) Value creation B) Value communication C) Value for money OD) Value delivery E) Value exchange The implementation phase of a marketing plan involves: A) Identifying a business's mission and objectives. B) Evaluating the performance of a marketing strategy. C) Identifying and evaluating different opportunities. D) Evaluating the present situation of a business. E) Analyzing a market by using marketing metrics. In the context of a SWOT analysis, which of the following is considered a company's weakness? A) Natural disasters that affect the company B) Entry of new players into the industry C) Lack of financial resources D) Unfavourable political changes E) Changes in consumer behaviour Operational excellence is achieved by: A) maintain efficient operations with the best location selection. B) excellent supply chain management and differentiate the product offerings. C) ensuring an excellent supply chain management and strong relationships with suppliers. D) strong relationships with suppliers and retailing loyal buyers. E) maintaining excellent customer service and excellent relationships with suppliers. The delivery gap differs from the knowledge gap in that the knowledge gap reflects the difference between: A) actual services provided to customers and services that a firm's promotion program promises. B) a firm's perceptions of customers' expectations and the service standards it sets. C) customers' expectations and the actual service provided to the customers. D) customers' expectations and a firm's perception of those expectations. E) a firm's service standards and the actual service it provides to customers. In the Boston Consulting Group (BCG) portfolio analysis, a product that serves a low- growth market but has a high market share in the industry is a: A) question mark. B) dog. C) champion D) star. E) cash cow. Previous Page Next Page Page 6 of 20 Joss wants to buy a T-shirt. He prefers branded T-shirts to nonbranded ones. Though the Calvin Klein T-shirt is very expensive, Joss decides to purchase it as he believes he is buying a higher quality item. This is an example of: O A) a compensatory decision rule. B) a determinant attribute. C) postpurchase dissonance. D) decision heuristics. E) a noncompensatory decision rule. Many consumers are familiar with the brands Pepsi and Coca-Cola and what they stand for. This is an example of: A) brand architecture. B) brand commitment. OC) perceived value. D) brand awareness E) brand loyalty When firms collect and synthesize information about their position with respect to their rivals, it is called: A) exclusive dealing. B) generational cohort. C) competitive intelligence. D) bid rigging E) bait-and-switch. Innovators are crucial to the success of any new product or service because: A) they are considered opinion leaders and influence other majority groups. B) they help the product or service gain market acceptance. C) they prefer products from established market leaders. D) they form a major group of consumers in the market of a new product or service. E) they are easily influenced by advertising