The following 5 questions are required.

1) Here is a business strategy based on differentiation

a)High price, high quality, broad availability, heavy promotions

b)Premium price, high quality, exclusive availability, light promotions

c)Competitively lower price, high quality, and exclusive availability

d) Lowest price, widely available, heavy promotion

2)What are the basic criteria used to determine the stage of a product in its life cycle?

a)Current growth in revenue and cash flow, and profitability

b)Future growth in sales volume and cash flow, and profitability

c)Historical trends in revenue and profitability

d)All of the above

3)What are the risks associated with products introductory stage?

a)Much uncertainty related to customer recognition, interest, and competitive positioning

b)Financial risks associated with startup costs and low revenue

c)Unclear positioning due to lack of management expertise

d)Choices b and c

e)Choices a and b

4)Common management errors during the transition phase between growth and maturity are a result of

a)Continuing to do more of the same and expecting a different outcome

b)Making sequential decisions tackling one problem at a time, rather than revisiting the entirety of the firm's value chain

c)Ignoring the results of the balance scorecard

d)Bringing together various stakeholders, functional decision-makers for rethinking new product values

5)A decision support tool for positioning your brand within a target segment relative to the competition is

a)Porter's Five Forces Model

b)Value Chain Analysis

c)Customer Journey Map

d)Customer Preference Map