Although break-even analysis and cost-plus pricing are important tools in setting prices based on the firm’s cost structure, they should never be the driving force behind pricing strategy. Why?

​Weaknesses that cannot be converted into strengths are called _____.

Firms focused on a single market segment use which of the following approaches? ​

Firms engage in __________ when their intimate knowledge and expertise in one market allows them to offer customized marketing programs that not only deliver needed products but also provide needed solutions to customers’ problems.

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?

Why would a firm offer a wide variety of products in its product portfolio?

Which of the following statements describes a reason why noncustomers do not purchase a firm’s products?

A price reduction offered to channel intermediaries for purchasing specified quantities of a product at a single time is called a:

In the Mercedes dealer network, individual dealers are given the sole right to sell Mercedes vehicles within a defined geographic area. What type of distribution does Mercedes employ?

A marketer at General Mills in charge of international expansion wants to determine Kellogg’s market share in Mexico. What type of marketing activity should she apply?