8. Firms are typically more successful when they focus on opportunities that build on their competitors' strengths. FALSE Firms are typically more successful when they focus on opportunities that build on their own strengths relative to the competition. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts. Topic: The Marketing Plan 9. Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness. FALSE A recession is an external factor with possible negative results, so it is a threat. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-03 Analyze a marketing situation using SWOT analysis. Topic: The Marketing Plan 10. Price should be based on the value that the customer perceives. TRUE Value-based marketing helps to ensure that customers perceive a product as a good value. Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-05 Outline the implementation of the marketing mix as a means to increase customer value. Topic: The Marketing Plan
8. Firms are typically more successful when they focus on opportunities that build on their competitors' strengths. FALSE Firms are typically more successful when they focus on opportunities that build on their own strengths relative to the competition. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-04 Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts. Topic: The Marketing Plan 9. Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness. FALSE A recession is an external factor with possible negative results, so it is a threat. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 3 Hard Learning Objective: 02-03 Analyze a marketing situation using SWOT analysis. Topic: The Marketing Plan 10. Price should be based on the value that the customer perceives. TRUE Value-based marketing helps to ensure that customers perceive a product as a good value. Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-05 Outline the implementation of the marketing mix as a means to increase customer value. Topic: The Marketing Plan
Test%20Bank%20for%20M%20Marketing%204th%20Edition%20Grewal,%20Levy.docx