Question

1) There are four categories of customer benefits in B2B (business-to-business) markets. Which of the following categories would include the benefits of vendor reputation, scale of operation, or specialized capabilities?

		Noneconomic, intangible benefits
		Noneconomic, tangible benefits
		Economic, intangible benefits
		Economic, tangible benefits

2) A maker of preservatives for commercial bakery goods hopes to break into the cereal manufacturing market. As the firm pursues first-time orders in this market, its salespeople should focus on which of the following types of buyer benefits?

		Economic, tangible
		Economic, intangible
		Noneconomic, tangible
		Noneconomic, intangible

3) In B2B (business-to-business) marketing, value propositions may be classified based on how they combine and communicate various customer benefits. According to leading experts, which of the following types of value proposition is generally considered most effective?

		Favorable points of difference
		All benefits
		Non-resonating focus
		Resonating focus

4) In the past, a manufacturer of impact-resistant glass has sold only to automobile and aircraft makers. But under new management, the firm will start marketing to builders of skyscrapers and other structures that must resist strong winds and weather. Of the three basic components of strategy, which one is management primarily seeking to change?

		Scope
		Advantage
		Objectives
		Market selection

Answer 1

1. Economic and tangible benefits include the benefits of vendor reputation, the scale of operation, or specialized capabilities because having a bigger place of operation would result in low cost of production and also specialized capabilities allow to have a particular competency that results in better monetary benefits as well as better quality of products.
2. To pursue first-time customers, salespeople should focus on Economic, tangible benefits because offering lower price goods with better quality for which customers are ready to pay more and providing benefits which customers can understand rather than selling them a brand name is better for pursuing customers for the first time with an unknown brand.
3. The fundamental idea behind a Resonating Focus value proposition is to define one or two different points of difference that provide more value to target customers (between your solution and your competitor). According to marketers, the Resonating focus value proposition is generally considered the most effective.
4. Market selection is the one that the company is primary looking for because the company previously was serving only aircraft and automobile manufacturers, which is a different market. Since making wind-resistant glass is already in scope. They already have the advantage of having the competencies to produce such hardened weather-resistant glass. Their objective must be to provide the customer with strong and good quality glass for resistance to weather which can also be served by serving the builders of skyscrapers and other structures that must resist strong winds and weather.