Difference between revisions of "Principles of marketing/PMKT102/Assessing customer behaviour/Quiz"

Indicate whether the following statements are true or false:

• TBD
  • True
    • Correct. DDDDDD
  • False
    • Incorrect. DDDDDD

• A SWOT Analysis helps marketers identify threats and opportunities to their marketing plans.
  • True
    • Correct. A SWOT analysis, based on a situation analysis, enables organizations to analyze their strengths, weaknesses, opportunities, and threats.
  • False
    • Incorrect. A SWOT analysis is a very useful technique that helps determine a firm's competitive advantage, and identify ways to minimize its weaknesses (i.e., a lack of awareness of its products in the marketplace, a lack of human resources talent, and a poor location) and focus on its strengths or opportunities.
• A value proposition indicates the features a product or service provides to a target market.
  • True
    • Incorrect. The value proposition shows why a product or service is superior (focusing on benefits) to competing offers and why the customer should buy it.
  • False
    • Correct. The value proposition focuses on the benefits of a product or service. Firms may emphasize different benefits to different customers (i.e., for a luxury automobile, a stylish, high performance vehicle with many safety features - a 30 year old single male accountant requires a different benefit statement than a stay-at-home mom with two children, both under 10 years old.)