(Test Bank) MARKETING TESTBANK ( contains multiple choice questions, true/false, short answer questions & essay questions CHAPTER 1 - 15) DOWNLOAD TO SCORE A ( UPDATED 2021 )

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Test Bank for MARKETING TESTBANK ( contains multiple choice questions, true/false, short answer questions & essay questions CHAPTER 1 - 15) DOWNLOAD TO SCORE A ( UPDATED 2021 ), The downloadable file consists of 171 pages, and the total size of the file is 0.52 MB. Purchase now only for highly discounted price.

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Chapter 1 Introduction to Services Marketing GENERAL CONTENT Multiple Choice Questions 1. There are several reasons why the services sector is increasing in almost all countries around the world. Which is not one of the contributing reasons? a.The knowledge-based industries are growing. b.Countries are less dependent on agriculture. c.Some manufacturing firms are now focusing on marketing services as well. d.The construction and manufacturing industries are booming. e.More companies are outsourcing some of their service components. (d; Moderate; p. 6) 2. Service markets are shaped by all of the following except ____________. a.government policies b.social changes c.global economic change d.business trends e.advances in information technology (c; Easy; p. 9) 3. The following are all business trends transforming service markets except ____________. a.push to increase shareholder value b.growth of franchising c.new agreements on trade in services d.marketing emphasis by non-profit organizations e.focus on quality and customer satisfaction (c; Moderate; p. 9) 4. The three broad categories of things processed in services are ____________, ____________, and ____________. a.people; physical objects; data b.people; organizations; documents c.people; data; projects d.physical objects; data; documentse.physical objects; organizations (a; Easy; p. 15) 5. The two considerations used to categorize service are ____________ and ____________. f.promotion versus place; price versus product g.place versus time; people versus ideas h.place versus people; time versus money i.people versus possession; tangible versus intangible j.people versus intangible; tangible versus possession (d; Moderate; p. 15) 6.A useful way to distinguish between goods and services is to place them on a continuum from ____________ to ____________. a.practical; impractical b.tangible-dominant; intangible-dominant c.low; high d.reliable; unreliable e.prepared; unprepared (b; Easy; p. 19) 7. Which of the following is an example of co-production? a.Withdrawing from an ATM. b.Eating fast food. c.Touring an aquarium. d.Buying a stereo. e.Selling items on eBay. (a; Challenging; p. 20) 8. Customers being turned away or having to wait is an implication of which aspect of services? a.People may be a part of the service experience. b.Intangible elements usually dominate value creation. c.Services are often difficult to visualize and understand. d.Customers may be involved in co-production. e.Most services cannot be inventoried. (e; Easy; p. 20) 9. The three additional Ps of services marketing that extend the original four Ps of marketing are _____________, _____________, and _____________.a.product; price; place; promotion b.prospects; process; people; promotion c.physical environment; process; people d.prosperity; process; people; promotion e.physical environment; prosperity; planning; process (c; Moderate; p. 23) 10. The service framework for developing effective service strategies excludes _________________. a.understanding service products, consumers and markets b.managing the competitive landscape c.applying the 4 Ps to services d.managing the customer interface e.implementing profitable service strategies (b; Moderate; p. 25) True/False 11. In most highly developed nations, services account for between three-fifths and four-fifths of the GDP . (True; Easy; p. 6) 12. Typically service jobs are not well-paid positions and require little education. (False; Easy; p. 7) 13.When migrants from developing countries move back to their own countries after living and working abroad in developed countries, there will be a vacuum in the employment market of developing economies. (False; Challenging; p. 10) 14. Systems and networks access and usage is an example of the ownership of services. (False; Moderate; p. 13) 15. Other customers typically do not impact the satisfaction of other consumers in service settings. (False; Easy; p. 20)16. Time is of great importance in services so operations managers have to be concerned about minimizing customer waiting time. (True; Easy; p. 22) 17. Failures are inevitable in service industries. (True; Moderate; p. 23) 18. Marketers should not attempt to shape customer roles and behaviors. (False; Moderate; p. 23) 19. The appearance of buildings, landscaping, vehicles, and uniforms provide tangible evidence of a firm’s service quality. (True; Moderate; p. 25) 20. Servicescape is only a consideration if customers have to enter a service factory. (True; Moderate; p. 24) 28. A movie theater seat is an example of _____________. a.renting durable goods b.closely engaging customers in the service process c.renting portions of a larger physical entity d.the centrality of time to services e.differences in customer choice criteria (c; Moderate; p. 13) 29. Education is an example of a/an _____________ service. a.people-processing b.information processing c.mental stimulus processing d.possession-processing e.physical processing (c; Moderate; p. 15) 30. Service firms have reservations systems because. a.intangible elements usually dominate value creation. b.most service products cannot e inventoried.c.distribution may take place through non-physical channels d.customers may be involved in co-production e.all of the above (b; Moderate; p. 20) 31. Which of the following is the best example of a supplementary service? a.Appliance maintenance b.Hotel room rental c.Fast food consumption d.House cleaning e.Landscaping (a; Moderate; pp. 22) 32. Online educational programs offered by the University of Phoenix are an example of _____________. a.revolutionary products/services b.collective products/services c.additional services d.supplementary services e.core products/services (e; Moderate; p. 22) True/False 33. China is experiencing rapid economic growth and this stimulates demand for production and business services. (False; Easy; p. 7) 34. IBM is a good example of a firm that has shifted from manufacturing intensive operations to service intensive operations. (True; Moderate; p. 8) 35. The Internet is transferring power from suppliers to customers, especially in consumer markets. (True; Moderate; p. 11) 36. Less than 15 percent of service jobs around the world are carried out remotely. (True; Moderate; p. 12)37. The best way to help customers visualize your service is to highlight credentials/experience and educate consumers to make good choices. (True; Moderate; p. 21) Chapter 2 Customer Behavior in a Services Context GENERAL CONTENT Multiple Choice Questions 1. The three stages in the consumer decision making process are ____________, ____________, and ____________. f.pre-awareness stage, pre-purchase, purchase stage g.pre-purchase stage, awareness stage, post-purchase stage h.service encounter stage, pre-purchase stage, post-purchase stage i.pre-purchase stage, awareness stage, purchase stage j.pre-purchase stage, service encounter stage, post-purchase stage (e; Easy; p. 34) 2. The key concepts in the pre-purchase stage include all the following except ____________. f.servuction system g.evoked set h.perceived risk i.zone of tolerance j.credence attributes (a; Easy; p. 34) 3. The pre purchase stage begins with ____________. f.perceived risk g.formation of expectations h.moments of truth i.evoked set j.need arousal (e; Moderate; p. 35)4. Tangible characteristics that customers can evaluate prior to purchase are termed ____________. f.search attributes g.experience attributes h.credence attributes i.satisfaction attributes j.capital attributes (a; Moderate; p. 36) 5. Characteristics that customers find hard to evaluate even after consumption are termed ____________. f.search attributes g.experience attributes h.credence attributes i.satisfaction attributes j.capital attributes (c; Moderate; p. 36) 6.Which of the following is NOT a type of perceived risk in purchasing and using services? f.Functional g.Permanent h.Financial i.Physical j.Social (b; Moderate; p. 37) 7.Consumer preferences for involvement in the service process may reflect which of the following factors? f.Variability in price structures. g.Willingness to travel to a service facility. h.Desire to be served by employee’s face-to-face. i.A and C only. j.B and C only. (e; Moderate; p. 40) 8. The service operations system does not include ____________. a.physical facilities b.equipment c.other customers d.technical coree.personnel (c; Moderate; p. 47) 9. In the theater metaphor, the elements include all but the following ____________. a.positions b.roles c.scripts d.service facilities e.personnel (a; Easy; p. 48) 10. During the post-purchase stage, consumers may make satisfaction judgments that ___________ their experience. f.negatively confirm, positively confirm, disconfirm g.positively disconfirm, confirm, negatively disconfirm h.disconfirm, positively confirm, negatively disconfirm i.negatively disconfirm, positively disconfirm, positively confirm j.positively confirm, negatively confirm, negatively disconfirm (b; Moderate; p. 50) True/False 11. The evoked set can be derived from past experience or competing firms. (False; Moderate; p. 36) 12. Credence attributes are the characteristics that can only be assessed after customers have gone through the service. (False; Easy; p. 36) 13. Everything else being equal, when customers are risk-averse, they will choose the service with the lowest risk perception. (True; Easy; p. 38)14. Evidence management is a somewhat disorganized approach to presenting customers with coherent evidence of a firm’s abilities, like employee dress and furnishings. (False; Moderate; p. 39) 15.Customers that have no relevant prior experience with a firm may base pre-purchase expectations on word-of-mouth comments, news stories, or the firm’s own marketing efforts. (True; Easy; p. 40) 16.Consumers will desire a particular level of service, but are willing to accept an adequate level of service and the gap between the two levels is called the zone of acceptance. (False; Easy; p. 42) 17. A service encounter is a period of time during which you, as a customer, interact with a service provider. (True; Easy; p. 43) 18.High-contact encounters between customers and service organizations differ sharply from low- contact encounters. (True; Moderate; p. 45) 19. Experience shows that successful personal relationships, built on trust, cannot be created and maintained simply through telephone and e-mail contact. (False; Challenging; p. 45) 20. Service personnel may play roles that are very different from their own personalities. (True; Moderate; p. 48) APPLICATION CONTENT Multiple Choice Questions28. To develop effective marketing strategies, marketers must understand how people make decisions about buying and using service, what the experience of service delivery and consumption is like for customers, and ____________. a.how they evaluate competitors b.how they evaluate the experience c.how often they utilize competitors d.how often they complain to the service firm e.the length of their relationship with the service firm (b; Challenging; p. 36) 29. An example of a service high in credence attribute is _____________. f.Extreme sports g.vacation h.spa i.musical performance j.surgery (e; Moderate; p. 36) 30. XL Capital portrays its logo as a giant obelisk between cliffs and a lighthouse to ____________. f.build trust with its clientele and generate a moment of truth. g.demonstrate its size and fundamental strength in protecting companies from risk. h.provide detailed information about its financial solubility. i.provide a visual example of its prowess to enhance experiential attributes. j.act as an advertisement that highlights important aspects of the company. (b; Challenging; p. 38) 31. For customers of credit card companies, which of the following statements are true? f.When they make calls to the call center, these are usually the few moments of truth. g.There is very little of the theater performance. h.They usually experience high-contact with the service personnel. i.Only A and B. j.All of the above. (d; Challenging; p. 47) 32. Dental customers ____________ to avoid delays and ensure effective use of dental professionals’ time. f.sit quietly in the waiting room g.commit positive word-of-mouth h.confirm and honor appointments i.should get to know hygienists j.provide accurate histories (c; Easy; p. 49)True/False 33. For B2B services, trade shows can be a way to create a need and engage customers’ interest. (True; Easy; p. 35) 34. McAfee uses free trial to create more search attributes to assist prospective customers. (True; Easy; p. 38) 35. Airlines are considered a low-contact service when compared to auto repair. (False; Moderate; p. 45) 36. Thoughtful banks place a telephone beside their ATMs so that customers can call a real person. (True; Easy; p. 45) 37. A dental hygienist confirming needs and setting appointment dates with patients is part of the service script for teeth cleaning. (False; Moderate; p. 49) Chapter 3 Positioning Services in Competitive Markets GENERAL CONTENT Multiple Choice Questions 1. Brand positioning can do all of the following except ____________. k.generate interest in a service l.create awareness for a service m.meet customers’ needs for a service n.differentiate a serviceo.increase adoption of a service (c; Challenging; p. 58) 2. Which of the following is NOT one of the four basic focus strategies? k.Service focused l.Unfocused m.Fully focused n.Refocused o.Market focused (d; Easy; p. 59) 3. A ____________ is composed of a group of buyers who share common characteristics, needs, purchasing behavior, or consumption patterns. k.target class l.class m.focal segment n.market segment o.target segment (d; Moderate; p. 60) 4. A(n) ____________ is one that a firm has selected from among those in the broader market and may be defined on the basis of several variables. k.general segment l.segmentation field m.target segment n.holistic segment o.mass customization (c; Easy; p. 60) 5. The same individuals may set different priorities for attributes according to all EXCEPT which of the following? k.The purpose of using the service. l.Who makes the decision. m.The timing of use. n.Whether the individual is using the service alone or with a group. o.The cost of the service. (e; Moderate; p. 63) 6. Which of the following is the best example of a determinant characteristic for airline travel? k.Oxygen masksl.Plane size m.Quality of food and drinks n.Having cocktail service o.Floatation devices (c; Moderate; p. 63) 7. ____________, refers to an explicit form of positioning strategy that is based upon offering several price-based classes of service concept, each based on packaging a distinct level of service performance across many attributes. a.Service tiering b.Service conscription c.Broad-basing d.Price-setting e.Matching (a; Challenging; p. 64) 8. Which of the following is NOT one of the four principles of positioning according to Jack Trout? k.A company must maintain a strong labor base. l.A company must establish a position in the minds of its targeted customers. m.The position should be singular, providing one simple and consistent message. n.The position must set a company apart from its competitors. o.A company cannot be all things to all people—it must focus its efforts. (a; Moderate; p. 65) 9. Market analysis addresses all of the following factors EXCEPT ____________. k.overall level of demand l.trend of demand m.government regulations n.geographic location of demand o.market analysis addresses all of the above factors (c; Easy; p. 68) 10. Competitive analysis addresses all of the following factors EXCEPT ____________. a.examines competitors’ strengths b.identifies competitors’ future positioning c.examines competitors’ current positioning d.examines competitors’ weaknesses e.suggests opportunities for differentiation(b; Moderate; p. 68) True/False 11. It is usually a good idea for firms to try to appeal to all potential buyers in a market, because customer variety leads to full capacity. (False; Moderate; p. 58) 12. Market niches that seem too narrow to offer sufficient sales in one country are indicative of globally narrow market niches. (False; Moderate; p. 59) 13. A fully-focused organization concentrates on a narrow market segment, but has a wide range of services. (False; Moderate; p. 59) 14. One of the reasons why firms with a narrow product line elect to serve multiple segments is to create a portfolio of customers that hedge against low demand risks. (True; Challenging; p. 59) 15. A service-focused firm offers a narrow range of services to a fairly broad market. (True; Moderate; p. 60) 16. A target segment should only be selected on the basis of their sales and profit potential. (False; Moderate; p. 60) 17. No service attribute can be easily quantified because of the intangibility of services. (False; Challenging; p. 63) 18. Positioning plays a pivotal role in marketing strategy, because it links market analysis and competitive analysis to environmental analysis. (False; Challenging; p. 67)19. The objective of internal corporate analysis is to identify the organization’s resources, any limitations or constraints, its goals, and how it values shape the way it does business. (True; Easy; p. 68) 20. The best way to anticipate possible competitive responses is to identify all current or potential competitors and to put oneself in their own management’s shoes by conducting an internal corporate analysis for each of these competitors. (True; Moderate; p. 68) 28. Bright Horizons strategy included which of the following? k.Marketing services to employers instead of parents. l.Hiring inexpensive labor. m.Commoditized service offerings. n.Heavy regulatory oversight. o.All of the above are strategies employed by BH. (a; Moderate; p. 57) 29. Segmentation variables at Contiki Holidays include all of the following EXCEPT ____________. f.geographic g.income h.lifestyle i.household size j.age (d; Challenging; p. 62) 30. Which of the following is most likely the determinant attribute for customers of CEVA Logistics, who have global operations? k.number of trucks l.reach m.delivery times n.mode of delivery o.online booking of services (b; Challenging; p. 64) 31. Capsule hotels originated from _____________. k.New York l.London m.Japann.India o.Malaysia (c; Easy; p. 65) 32. Grant Thornton, the fifth largest firm in the accounting industry, has successfully positioned itself as offering ____________ and having ____________. k.high investment yield; “a passion for the business of accounting” l.limited financial obligation; “a desire to exceed expectations” m.easy access to partners; “a passion for the business of accounting” n.low employee turnover; “a desire to exceed expectations” o.high asset turnover; “a passion for the business of accounting” (c; Moderate; p. 66) True/False 33. United Church Homes & Services offers housing to retirees. This is an example of a market focused strategy. (False; Moderate; p. 58) 34. Rentokil started off as a firm that manufactured rat poison and a pesticide for killing leeches. (False; Easy; p. 61) 35. Yotel and Qbic are capsule hotel chains. (True; Easy; p. 65) 36. Bright Horizons used low-cost strategies to achieve their competitive advantage. (False; Moderate; p. 67) 37. Google has expanded its offerings to include Google Earth and You Tube in order increase sales and attract new customers. (True; Moderate; p. 69)Chapter 2 Customer Behavior in a Services Context GENERAL CONTENT Multiple Choice Questions 1. The three stages in the consumer decision making process are ____________, ____________, and ____________. p.pre-awareness stage, pre-purchase, purchase stage q.pre-purchase stage, awareness stage, post-purchase stage r.service encounter stage, pre-purchase stage, post-purchase stage s.pre-purchase stage, awareness stage, purchase stage t.pre-purchase stage, service encounter stage, post-purchase stage (e; Easy; p. 34) 2. The key concepts in the pre-purchase stage include all the following except ____________. p.servuction system q.evoked set r.perceived risk s.zone of tolerance t.credence attributes (a; Easy; p. 34) 3. The prepurchase stage begins with ____________. k.perceived risk l.formation of expectations m.moments of truth n.evoked set o.need arousal (e; Moderate; p. 35) 4. Tangible characteristics that customers can evaluate prior to purchase are termed ____________. p.search attributes q.experience attributes r.credence attributess.satisfaction attributes t.capital attributes (a; Moderate; p. 36) 5. Characteristics that customers find hard to evaluate even after consumption are termed ____________. p.search attributes q.experience attributes r.credence attributes s.satisfaction attributes t.capital attributes (c; Moderate; p. 36) 6.Which of the following is NOT a type of perceived risk in purchasing and using services? p.Functional q.Permanent r.Financial s.Physical t.Social (b; Moderate; p. 37) 7.Consumer preferences for involvement in the service process may reflect which of the following factors? p.Variability in price structures. q.Willingness to travel to a service facility. r.Desire to be served by employee’s face-to-face. s.A and C only. t.B and C only. (e; Moderate; p. 40) 8. The service operations system does not include ____________. a.physical facilities b.equipment c.other customers d.technical core e.personnel (c; Moderate; p. 47) 9. In the theater metaphor, the elements include all but the following ____________. a.positionsb.roles c.scripts d.service facilities e.personnel (a; Easy; p. 48) 10. During the post-purchase stage, consumers may make satisfaction judgments that ___________ their experience. p.negatively confirm, positively confirm, disconfirm q.positively disconfirm, confirm, negatively disconfirm r.disconfirm, positively confirm, negatively disconfirm s.negatively disconfirm, positively disconfirm, positively confirm t.positively confirm, negatively confirm, negatively disconfirm (b; Moderate; p. 50) True/False 11. The evoked set can be derived from past experience or competing firms. (False; Moderate; p. 36) 12. Credence attributes are the characteristics that can only be assessed after customers have gone through the service. (False; Easy; p. 36) 13. Everything else being equal, when customers are risk-averse, they will choose the service with the lowest risk perception. (True; Easy; p. 38) 14. Evidence management is a somewhat disorganized approach to presenting customers with coherent evidence of a firm’s abilities, like employee dress and furnishings. (False; Moderate; p. 39) 15.Customers that have no relevant prior experience with a firm may base pre-purchase expectations on word-of-mouth comments, news stories, or the firm’s own marketing efforts.(True; Easy; p. 40) 16.Consumers will desire a particular level of service, but are willing to accept an adequate level of service and the gap between the two levels is called the zone of acceptance. (False; Easy; p. 42) 17. A service encounter is a period of time during which you, as a customer, interact with a service provider. (True; Easy; p. 43) 18.High-contact encounters between customers and service organizations differ sharply from low- contact encounters. (True; Moderate; p. 45) 19. Experience shows that successful personal relationships, built on trust, cannot be created and maintained simply through telephone and e-mail contact. (False; Challenging; p. 45) 20. Service personnel may play roles that are very different from their own personalities. (True; Moderate; p. 48) APPLICATION CONTENT Multiple Choice Questions 28. To develop effective marketing strategies, marketers must understand how people make decisions about buying and using service, what the experience of service delivery and consumption is like for customers, and ____________. k.how they evaluate competitors l.how they evaluate the experience m.how often they utilize competitors n.how often they complain to the service firm o.the length of their relationship with the service firm (b; Challenging; p. 36)29. An example of a service high in credence attribute is _____________. p.Extreme sports q.vacation r.spa s.musical performance t.surgery (e; Moderate; p. 36) 30. XL Capital portrays its logo as a giant obelisk between cliffs and a lighthouse to ____________. p.build trust with its clientele and generate a moment of truth. q.demonstrate its size and fundamental strength in protecting companies from risk. r.provide detailed information about its financial solubility. s.provide a visual example of its prowess to enhance experiential attributes. t.act as an advertisement that highlights important aspects of the company. (b; Challenging; p. 38) 31. For customers of credit card companies, which of the following statements are true? p.When they make calls to the call center, these are usually the few moments of truth. q.There is very little of the theater performance. r.They usually experience high-contact with the service personnel. s.Only A and B. t.All of the above. (d; Challenging; p. 47) 32. Dental customers ____________ to avoid delays and ensure effective use of dental professionals’ time. p.sit quietly in the waiting room q.commit positive word-of-mouth r.confirm and honor appointments s.should get to know hygienists t.provide accurate histories (c; Easy; p. 49) True/False 33. For B2B services, trade shows can be a way to create a need and engage customers’ interest. (True; Easy; p. 35) 34. McAfee uses free trial to create more search attributes to assist prospective customers. (True; Easy; p. 38)35. Airlines are considered a low-contact service when compared to auto repair. (False; Moderate; p. 45) 36. Thoughtful banks place a telephone beside their ATMs so that customers can call a real person. (True; Easy; p. 45) 37. A dental hygienist confirming needs and setting appointment dates with patients is part of the service script for teeth cleaning. (False; Moderate; p. 49) Chapter 3 Positioning Services in Competitive Markets GENERAL CONTENT Multiple Choice Questions 1. Brand positioning can do all of the following except ____________. u.generate interest in a service v.create awareness for a service w.meet customers’ needs for a service x.differentiate a service y.increase adoption of a service (c; Challenging; p. 58) 2. Which of the following is NOT one of the four basic focus strategies? p.Service focused q.Unfocused r.Fully focused s.Refocused t.Market focused (d; Easy; p. 59)3. A ____________ is composed of a group of buyers who share common characteristics, needs, purchasing behavior, or consumption patterns. u.target class v.class w.focal segment x.market segment y.target segment (d; Moderate; p. 60) 4. A(n) ____________ is one that a firm has selected from among those in the broader market and may be defined on the basis of several variables. u.general segment v.segmentation field w.target segment x.holistic segment y.mass customization (c; Easy; p. 60) 5. The same individuals may set different priorities for attributes according to all EXCEPT which of the following? u.The purpose of using the service. v.Who makes the decision. w.The timing of use. x.Whether the individual is using the service alone or with a group. y.The cost of the service. (e; Moderate; p. 63) 6. Which of the following is the best example of a determinant characteristic for airline travel? u.Oxygen masks v.Plane size w.Quality of food and drinks x.Having cocktail service y.Floatation devices (c; Moderate; p. 63) 7. ____________, refers to an explicit form of positioning strategy that is based upon offering several price-based classes of service concept, each based on packaging a distinct level of service performance across many attributes. f.Service tiering g.Service conscriptionh.Broad-basing i.Price-setting j.Matching (a; Challenging; p. 64) 8. Which of the following is NOT one of the four principles of positioning according to Jack Trout? u.A company must maintain a strong labor base. v.A company must establish a position in the minds of its targeted customers. w.The position should be singular, providing one simple and consistent message. x.The position must set a company apart from its competitors. y.A company cannot be all things to all people—it must focus its efforts. (a; Moderate; p. 65) 9. Market analysis addresses all of the following factors EXCEPT ____________. u.overall level of demand v.trend of demand w.government regulations x.geographic location of demand y.market analysis addresses all of the above factors (c; Easy; p. 68) 10. Competitive analysis addresses all of the following factors EXCEPT ____________. a.examines competitors’ strengths b.identifies competitors’ future positioning c.examines competitors’ current positioning d.examines competitors’ weaknesses e.suggests opportunities for differentiation (b; Moderate; p. 68) True/False 11. It is usually a good idea for firms to try to appeal to all potential buyers in a market, because customer variety leads to full capacity. (False; Moderate; p. 58)12. Market niches that seem too narrow to offer sufficient sales in one country are indicative of globally narrow market niches. (False; Moderate; p. 59) 13. A fully-focused organization concentrates on a narrow market segment, but has a wide range of services. (False; Moderate; p. 59) 14. One of the reasons why firms with a narrow product line elect to serve multiple segments is to create a portfolio of customers that hedge against low demand risks. (True; Challenging; p. 59) 15. A service-focused firm offers a narrow range of services to a fairly broad market. (True; Moderate; p. 60) 16. A target segment should only be selected on the basis of their sales and profit potential. (False; Moderate; p. 60) 17. No service attribute can be easily quantified because of the intangibility of services. (False; Challenging; p. 63) 18. Positioning plays a pivotal role in marketing strategy, because it links market analysis and competitive analysis to environmental analysis. (False; Challenging; p. 67) 19. The objective of internal corporate analysis is to identify the organization’s resources, any limitations or constraints, its goals, and how it values shape the way it does business. (True; Easy; p. 68) 20. The best way to anticipate possible competitive responses is to identify all current or potential competitors and to put oneself in their own management’s shoes by conducting an internal corporate analysis for each of these competitors. (True; Moderate; p. 68)