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Marketing Final Exam

Advantage b experience curve c competitive advantage

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Unformatted text preview: experience curve c. competitive advantage d. market segment e. strategic business unit ANS: C This is the definition of competitive advantage. PTS: 1 REF: 19 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Knowledge 37. As a customer entered the Hornady store, which sells muzzleloading rifles, a salesperson approached her and said, “Hornady lead round balls are the musket balls you ought to buy. They are the most uniform in size and shape, and they are made of pure lead. Our shot is used by the Muzzle Loading World Champion.” The salesperson was describing Hornady’s: a. competitive advantage b. strategic strength c. tactical opportunity d. opportunity mission e. quality objective ANS: A A competitive advantage is a set of unique features of a company and its product that are perceived by the target market as significant and superior to the competition. PTS: 1 REF: 19 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Application 38. Land O’Lakes makes a light butter with canola oil that has 60 percent less cholesterol and 50 percent less fat and calories than butter. This marketing gives the product a: a. strategic edge b. competitive advantage c. tactical strength d. marketing mix e. mission statement ANS: B A competitive advantage is set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. PTS: 1 REF: 19 OBJ: 02-5 TOP: AACSB Reflective Thinking KEY: CB&E Model Strategy MSC: BLOOMS Application 39. Each labor and delivery room at the new Dekalb County Medical Center has hardwood floors, soft lighting, and mission-style furniture. The facility also features a stone fireplace in the lobby, a bistro-style restaurant, and VIP suites for discerning mothers-to-be. This unique design and furnishings give the medical center a: a. profit-enhanced advantage b. competitive advantage c. quality objectivity d. strategic strength e. tactical opportunity ANS: B A competitive advantage is a set of unique features of a company and its product that are perceived by the target market as significant and superior to the competition. PTS: 1 REF: 19 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Application 40. Which of the following is NOT a type of competitive advantage? a. Management structure b. Cost c. Product/service differentiation d. Niche e. All of these choices are types of competitive advantages. ANS: A The three types of competitive advantage are cost, product/service differentiation, and niche. PTS: 1 REF: 19 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Analysis 41. Walmart realizes a _____ using its relationships with suppliers to give customers low prices and good customer service. a. brand name strategy b. niche competitive advantage c. cost competitive advantage d. marketing competitive advantage e. synergistic competitive adva...
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