Podcast
Questions and Answers
What is the primary goal of conducting a competitive analysis according to the passage?
What is the primary goal of conducting a competitive analysis according to the passage?
- To gain insight into the company's internal operations
- To understand the values and benefits of competitors' products (correct)
- To develop innovative products
- To identify new market opportunities
What are the two types of competitors mentioned in the passage?
What are the two types of competitors mentioned in the passage?
- Domestic and international competitors
- Local and global competitors
- Direct and indirect competitors (correct)
- Online and offline competitors
According to the passage, how can a service firm gain a competitive advantage?
According to the passage, how can a service firm gain a competitive advantage?
- By providing equal product value but operating more efficiently than rivals (lower cost) (correct)
- By offering lower prices than competitors
- By investing in advanced technology
- By offering a wider range of products and services than competitors
What is the main role of suppliers according to the passage?
What is the main role of suppliers according to the passage?
What is the challenge for businesses in maintaining good relationships with suppliers, as mentioned in the passage?
What is the challenge for businesses in maintaining good relationships with suppliers, as mentioned in the passage?
From a retail perspective, what is the primary role of suppliers according to the passage?
From a retail perspective, what is the primary role of suppliers according to the passage?
What term refers to the forces closely influencing the company and directly affecting the organization’s relationships?
What term refers to the forces closely influencing the company and directly affecting the organization’s relationships?
In a service firm's environment, who are considered as internal customers?
In a service firm's environment, who are considered as internal customers?
What are external customers referred to in the text?
What are external customers referred to in the text?
Which group is considered as a part of a service firm's environment and is crucial as a key marketing mix variable?
Which group is considered as a part of a service firm's environment and is crucial as a key marketing mix variable?
What key task is highlighted in maintaining employee-employer relationships according to the text?
What key task is highlighted in maintaining employee-employer relationships according to the text?
In the context of suppliers, what aspect is mentioned as either a strength or a weakness for a service firm?
In the context of suppliers, what aspect is mentioned as either a strength or a weakness for a service firm?
Which of the following is NOT a type of marketing intermediary?
Which of the following is NOT a type of marketing intermediary?
What can be a consequence of supply shortages or delays from suppliers?
What can be a consequence of supply shortages or delays from suppliers?
Why should marketers treat suppliers as partners?
Why should marketers treat suppliers as partners?
Which of the following provides price utility to consumers?
Which of the following provides price utility to consumers?
Which type of marketing intermediary helps in targeting and promoting products?
Which type of marketing intermediary helps in targeting and promoting products?
From a retail perspective, which type of marketing intermediary is most directly involved in selling products to final buyers?
From a retail perspective, which type of marketing intermediary is most directly involved in selling products to final buyers?
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