Question 1

The more __________ the prospective service purchase, the more important _________ are to the decision making process.

Accepted Answer

A) tangible; extrinsic brand cues 
B) intangible; intrinsic brand cues 
C) intangible; extrinsic brand cues 
D) expensive; price discounts 
E) tangible; intrinsic brand cues 
A) tangible; extrinsic brand cues 
B) intangible; intrinsic brand cues 
C) intangible; extrinsic brand cues 
D) expensive; price discounts 
E) tangible; intrinsic brand cues B

Question 2

A new jeweller which carries a range of goods from a specific designer with supplementary products is opening in your city.What advice would you give to this business in terms of seeking a competitive advantage?

Accepted Answer

In order to seek a competitive advantage, the new jeweller should focus on creating a unique and memorable brand identity. This can be achieved by highlighting the specific designer's style and aesthetic, and showcasing the supplementary products in a way that sets them apart from other jewellery stores in the city.

Additionally, the business should prioritize excellent customer service and personalized shopping experiences. By building strong relationships with customers and offering exceptional service, the jeweller can differentiate themselves from competitors and create a loyal customer base.

Furthermore, the new jeweller should consider implementing a strong online presence, including an e-commerce platform and active social media accounts. This will allow them to reach a wider audience and attract customers who may not be local to the city.

Lastly, the business should focus on creating partnerships and collaborations with other local businesses or influencers to further promote their brand and products. By leveraging these relationships, the jeweller can increase their visibility and attract more customers.

Overall, by focusing on brand identity, customer service, online presence, and strategic partnerships, the new jeweller can seek a competitive advantage in the city's jewellery market.

Question 3

A small seaside town has a variety of franchised food outlets, two cinemas and a local theatre.A new independently-owned restaurant is setting up.What information would you include when developing their positioning strategy?

Accepted Answer

When developing a positioning strategy for the new independently-owned restaurant in the small seaside town, it is important to consider the following information:

1. Target Market: Identify the target market for the restaurant, including demographics such as age, income level, and lifestyle. Understanding the preferences and needs of the local community will help in positioning the restaurant effectively.

2. Unique Selling Proposition: Determine what sets the restaurant apart from the franchised food outlets in the town. This could be a unique menu, locally-sourced ingredients, a specific cuisine, or a focus on sustainability and environmental responsibility.

3. Competitive Analysis: Understand the strengths and weaknesses of the existing food outlets, cinemas, and theatre in the town. This will help in identifying opportunities to differentiate the restaurant and attract customers.

4. Brand Identity: Develop a strong brand identity that reflects the restaurant's values, atmosphere, and overall experience. This could include the restaurant's name, logo, interior design, and customer service approach.

5. Marketing and Promotion: Consider how the restaurant will promote itself to the local community. This could include social media marketing, local advertising, partnerships with local businesses, and community events.

6. Pricing Strategy: Determine the pricing strategy for the restaurant, taking into account the local market and the perceived value of the dining experience.

7. Location and Accessibility: Consider the restaurant's location and accessibility for potential customers. A convenient and attractive location can be a key factor in positioning the restaurant successfully.

By considering these factors, the new independently-owned restaurant can develop a positioning strategy that effectively differentiates itself from the existing food outlets and appeals to the local community.

Question 4

A market-focused firm offers:

Accepted Answer

A) a limited range of services to a specific market segment 
B) a wide range of services to a narrow segment 
C) a wide range of services to a broad market 
D) a narrow range of services to a fairly broad market 
E) none of the above 
A) a limited range of services to a specific market segment 
B) a wide range of services to a narrow segment 
C) a wide range of services to a broad market 
D) a narrow range of services to a fairly broad market 
E) none of the above

Question 5

Target market selection is complex because market segments generally offer equally good opportunities.

Accepted Answer

A) True 
 B)False

Question 6

__________ analysis determines the overall nature, level, trend and geographic location of demand.

Accepted Answer

A) Customer 
B) Company 
C) Competitive 
D) Internal marketing 
E) Departmental 
A) Customer 
B) Company 
C) Competitive 
D) Internal marketing 
E) Departmental

Question 7

'Determinant attributes' are those that are important to purchasers.

Accepted Answer

A) True 
 B)False

Question 8

Attributes that make a firm's brand either superior or inferior to its competition are referred to as 'points of contention'.

Accepted Answer

A) True 
 B)False

Question 9

___________ analysis gives a marketing strategist a sense of their organisation's respective strengths and weaknesses which, in turn, may suggest opportunities for differentiation.

Accepted Answer

A) Internal 
B) Company 
C) Competitive 
D) Customer 
E) Segment 
A) Internal 
B) Company 
C) Competitive 
D) Customer 
E) Segment

Question 10

Select four service organisations and develop a table which gives examples of positioning and value proposition.

Accepted Answer

Service Organization | Positioning | Val

Question 11

The value attributed to the various services provided by the organisation will assist in defining a target market.

Accepted Answer

A) True 
 B)False

Question 12

A target market is a segment that a firm has selected from among all those that can be defined in the broader market.

Accepted Answer

A) True 
 B)False

Question 13

Differentiate between 'importance' and 'determinant' attributes.Identify possible 'importance' and 'determinant' attributes for the tertiary business education market in Australia for both domestic and international students.

Accepted Answer

The 'importance' attribute refers to the

Question 14

If you were involved in the marketing of a private school, what criteria would you consider when evaluating target market segments?

Accepted Answer

When evaluating target market segments f

Question 15

Market segments are often defined and profiled with reference to a mix of variables such as geographic, demographic, psychographic and behavioural.

Accepted Answer

A) True 
 B)False

Question 16

Business-to-business market segments are usually defined and profiled with reference to all of the following EXCEPT:

Accepted Answer

A) nature of rivalry 
B) industry type 
C) size, location and strategic importance of firms 
D) the nature of purchasing situation 
E) anticipated purchasing volume 
A) nature of rivalry 
B) industry type 
C) size, location and strategic importance of firms 
D) the nature of purchasing situation 
E) anticipated purchasing volume

Question 17

In a service setting, which attributes would you consider essential to defining and profiling market segments?

Accepted Answer

In a service setting, essential attribut

Question 18

The research involved in developing a positioning strategy can help a company to answer which of the following questions?

Accepted Answer

A) Which customers do we currently serve? 
B) How do the benefits of our current services compare to competitors? 
C) Do we have any compelling differences from competitive offerings? 
D) What do our customers expect from us? 
E) All of the above 
A) Which customers do we currently serve? 
B) How do the benefits of our current services compare to competitors? 
C) Do we have any compelling differences from competitive offerings? 
D) What do our customers expect from us? 
E) All of the above

Question 19

Keller and Kotler consider three necessary criteria for an attribute to be POD.These are:

Accepted Answer

A) relevance, distinctiveness, believability 
B) distinctiveness, originality, parity 
C) believability, parity, relevance 
D) originality, believability, relevance 
A) relevance, distinctiveness, believability 
B) distinctiveness, originality, parity 
C) believability, parity, relevance 
D) originality, believability, relevance

Question 20

The managers of a hotel have identified the service features their targeted customers care about, and they have planned how their hotel will offer a distinctive difference.What else must a complete positioning strategy include?

Accepted Answer

A) A way to segment their market 
B) A way to communicate the distinctive differences 
C) A profile of market segments 
D) A clear, specific definition of convenience 
E) All of the above 
A) A way to segment their market 
B) A way to communicate the distinctive differences 
C) A profile of market segments 
D) A clear, specific definition of convenience 
E) All of the above

The more __ the prospective service purchase, the more important _ are to the decision making process.

A new jeweller which carries a range of goods from a specific designer with supplementary products is opening in your city.What advice would you give to this business in terms of seeking a competitive advantage?

A small seaside town has a variety of franchised food outlets, two cinemas and a local theatre.A new independently-owned restaurant is setting up.What information would you include when developing their positioning strategy?

A market-focused firm offers:

Target market selection is complex because market segments generally offer equally good opportunities.

__________ analysis determines the overall nature, level, trend and geographic location of demand.

'Determinant attributes' are those that are important to purchasers.

Attributes that make a firm's brand either superior or inferior to its competition are referred to as 'points of contention'.

___________ analysis gives a marketing strategist a sense of their organisation's respective strengths and weaknesses which, in turn, may suggest opportunities for differentiation.

Select four service organisations and develop a table which gives examples of positioning and value proposition.

The value attributed to the various services provided by the organisation will assist in defining a target market.

A target market is a segment that a firm has selected from among all those that can be defined in the broader market.

Differentiate between 'importance' and 'determinant' attributes.Identify possible 'importance' and 'determinant' attributes for the tertiary business education market in Australia for both domestic and international students.

If you were involved in the marketing of a private school, what criteria would you consider when evaluating target market segments?

Market segments are often defined and profiled with reference to a mix of variables such as geographic, demographic, psychographic and behavioural.

Business-to-business market segments are usually defined and profiled with reference to all of the following EXCEPT:

In a service setting, which attributes would you consider essential to defining and profiling market segments?

The research involved in developing a positioning strategy can help a company to answer which of the following questions?

Keller and Kotler consider three necessary criteria for an attribute to be POD.These are:

The managers of a hotel have identified the service features their targeted customers care about, and they have planned how their hotel will offer a distinctive difference.What else must a complete positioning strategy include?

Marketing in the service economy

Customer behaviour, culture and service encounters

Developing service products: core and supplementary service elements

Distributing services through physical and electronic channels

Understanding costs and developing pricing strategy

Balancing productive capacity and demand

Integrated services marketing communications

Managing people for service advantage

Crafting the service environment

Managing the customer service function

Customer satisfaction and service quality

Managing relationships and building loyalty

Handling customer complaints and managing service recovery

Filters

Exam 3: Positioning services in competitive markets

The more __________ the prospective service purchase, the more important _________ are to the decision making process.

A new jeweller which carries a range of goods from a specific designer with supplementary products is opening in your city.What advice would you give to this business in terms of seeking a competitive advantage?

A small seaside town has a variety of franchised food outlets, two cinemas and a local theatre.A new independently-owned restaurant is setting up.What information would you include when developing their positioning strategy?

A market-focused firm offers:

Target market selection is complex because market segments generally offer equally good opportunities.

__________ analysis determines the overall nature, level, trend and geographic location of demand.

'Determinant attributes' are those that are important to purchasers.

Attributes that make a firm's brand either superior or inferior to its competition are referred to as 'points of contention'.

___________ analysis gives a marketing strategist a sense of their organisation's respective strengths and weaknesses which, in turn, may suggest opportunities for differentiation.

Select four service organisations and develop a table which gives examples of positioning and value proposition.

The value attributed to the various services provided by the organisation will assist in defining a target market.

A target market is a segment that a firm has selected from among all those that can be defined in the broader market.

Differentiate between 'importance' and 'determinant' attributes.Identify possible 'importance' and 'determinant' attributes for the tertiary business education market in Australia for both domestic and international students.

If you were involved in the marketing of a private school, what criteria would you consider when evaluating target market segments?

Market segments are often defined and profiled with reference to a mix of variables such as geographic, demographic, psychographic and behavioural.

Business-to-business market segments are usually defined and profiled with reference to all of the following EXCEPT:

In a service setting, which attributes would you consider essential to defining and profiling market segments?

The research involved in developing a positioning strategy can help a company to answer which of the following questions?

Keller and Kotler consider three necessary criteria for an attribute to be POD.These are:

The managers of a hotel have identified the service features their targeted customers care about, and they have planned how their hotel will offer a distinctive difference.What else must a complete positioning strategy include?

Marketing in the service economy

Customer behaviour, culture and service encounters

Developing service products: core and supplementary service elements

Distributing services through physical and electronic channels

Understanding costs and developing pricing strategy

Balancing productive capacity and demand

Integrated services marketing communications

Managing people for service advantage

Crafting the service environment

Managing the customer service function

Customer satisfaction and service quality

Managing relationships and building loyalty

Handling customer complaints and managing service recovery

Filters

The more __ the prospective service purchase, the more important _ are to the decision making process.