A Preface to Marketing Management 14th Edition

Chapter 01 - Strategic Planning and the Marketing Management Process Chapter 1 Strategic Planning and the Marketing Management Process High-Level Chapter Outline I. Introduction II. The Marketing Concept III. What is Marketing? IV. What is Strategic Planning? A. Strategic Planning and Marketing Management B. The Strategic Planning Process Organizational Mission Organizational Objectives Organizational Strategies Choosing an Appropriate Strategy Organizational Portfolio Plan C. The Complete Strategic

Chapter 01 - Strategic Planning and the Marketing Management Process Choosing an Appropriate Strategy Management should select those strategies consistent with its mission and capitalizes on the organization's distinctive competencies that will lead to a sustainable competitive advantage. A sustainable competitive advantage can be based on either the assets or skills of the

Chapter 10 - Distribution Strategy Chapter 10 Distribution Strategy High-Level Chapter Outline I. The Need for Marketing Intermediaries II. Classification of Marketing Intermediaries and Functions III. Channels of Distribution IV. Selecting Channels of Distribution A. Specific Considerations Distribution Coverage Required Degree of Control Desired Total Distribution Cost Channel Flexibility V. Managing a Channel of Distribution A. Relationship Marketing in Channels B. Vertical Marketing Systems Administered Systems Contractual

Chapter 11 - Pricing Strategy Chapter 11 Pricing Strategy High-Level Chapter Outline I. Demand Influences on Pricing Decisions A. Demographic Factors B. Psychological Factors C. Price Elasticity II. Supply Influences on Pricing Decisions A. Pricing Objectives B. Cost Considerations in Pricing C. Product Considerations in Pricing Perishability Distinctiveness Life Cycle III. Environmental Influences on Pricing Decisions A. The Internet B. Competition C. Government Regulations IV. General Pricing Model A. Set

Chapter 12 - The Marketing of Services Chapter 12 The Marketing of Services High-Level Chapter Outline I. Introduction II. Important Characteristics of Services A. Intangibility B. Inseparability C. Perishability and Fluctuating Demand D. Client Relationship E. Customer Effort F. Uniformity III. Providing Quality Services A. Customer Satisfaction Measurement B. The Importance of Internal Marketing IV. Overcoming the Obstacles in Services Marketing A. Limited View of Marketing B.

Chapter 13 - Global Marketing Chapter 13 Global Marketing High-Level Chapter Outline I. Introduction II. The Competitive Advantage of Nations III. Organizing for Global Marketing A. Problems with Entering Foreign Marketing Cultural Misunderstanding Political Uncertainty Import Restrictions Exchange Controls and Ownership Restrictions Economic Conditions B. Organizing the Multinational Company IV. Programming for Global Marketing A. Global Marketing Research Population Characteristics Ability to Buy Willingness to Buy Differences in

Chapter 02 - Marketing Research: Process and Systems for Decision Making Chapter 2 Marketing Research: Process and Systems for Decision Making High-Level Chapter Outline I. The Role of Marketing Research II. The Marketing Research Process A. Purpose of the Research B. Plan of the Research Primary versus Secondary Data Qualitative versus Quantitative Research Company versus Contract Research C. Performance of the

Chapter 3 Consumer Behavior High-Level Chapter Outline I. Social Influences on Consumer Decision Making A. Culture and Subculture B. Social Class C. Reference Groups and Families II. Marketing Influences on Consumer Decision Making A. Product Influences B. Price Influences C. Promotion Influences D. Place Influences III. Situational Influences on Consumer Decision Making IV. Psychological Influences on Consumer Decision Making A. Product Knowledge B. Product Involvement V.

Chapter 03 - Consumer Behavior B. Alternative Search Once a need is recognized, the individual then searches for alternatives for satisfying the need. The individual can collect information from five basic sources for a particular purchase decision: oInternal sources: For many purchases, consumers have had previous experience dealing with particular needs and wants.

Chapter 04 - Business, Government and Institutional Buying Chapter 4 Business, Government and Institutional Buying High-Level Chapter Outline I. Categories of Organizational Buyers A. Producers B. Intermediaries C. Government Agencies D. Other Institutions II. The Organizational Buying Process III. Purchase-Type Influences on Organizational Buying A. Straight Rebuy B. Modified Rebuy C. New Task Purchase IV. Structural Influences on Organizational Buying A. Purchasing Roles B. Organization-Specific Factors C.

Chapter 05 - Market Segmentation Chapter 5 Market Segmentation High-Level Chapter Outline I. Introduction II. Delineate the Firms Current Situation III. Determine Consumer Needs and Wants IV. Divide Markets on Relevant Dimensions A. A Priori versus Post Hoc Segmentation B. Relevance of Segmentation Dimensions C. Bases for Segmentation Benefit Segmentation Psychographic Segmentation Geodemographic Segmentation V. Develop Product Positioning VI. Decide Segmentation Strategy VII. Design Marketing Mix

Chapter 6 Product and Brand Strategy High-Level Chapter Outline I. Basic Issues in Product Management A. Product Definition B. Product Classification C. Product Quality and Value D. Product Mix and Product Line E. Branding and Brand Equity F. Packaging II. Product Life Cycle A. Product Adoption and Diffusion III. The Product Audit A. Deletions B. Product Improvement IV. Organizing for Product Management Detailed Chapter Outline I. Basic

Chapter 06 - Product and Brand Strategy II. Product Life Cycle A firms product strategy must take into account the fact that products have a life cycle. Products are introduced; they grow, mature, and decline. Figure 6.2 illustrates this life-cycle concept. During the introduction phase of the cycle, there are usually high production and

Chapter 07 - New Product Planning and Development Chapter 7 New Product Planning and Development High-Level Chapter Outline I. New Product Strategy II. New Product Planning and Development Process A. Idea Generation B. Idea Screening C. Project Planning D. Product Development E. Test Marketing F. Commercialization G. The Importance of Time III. Some Important New Product Decisions A. Quality Level B. Product Features C. Product Design D.

Chapter 8 Integrated Marketing Communications High-Level Chapter Outline I. Strategic Goals of Marketing Communication A. Create Awareness B. Build Positive Images C. Identify Prospects D. Build Channel Relationships E. Retain Customers II. The Promotion Mix III. Integrated Marketing Communications IV. Advertising: Planning and Strategy A. Objectives of Advertising V. Advertising Decisions A. The Expenditure Question Percent of Sales Per-Unit Expenditure All You Can Afford Competitive Parity The Research Approach The

B. The Allocation Question This question deals with the problem on deciding on the most effective way of spending advertising dollars. A general answer to the question is that managements choice of strategies and objectives determines the media and appeals to be used. A successful ad campaign has two related tasks oSay the

Chapter 09 - Personal Selling, Relationship Building, and Sales Management Chapter 9 Personal Selling, Relationship Building, and Sales Management High-Level Chapter Outline I. Importance of Personal Selling II. The Sales Process A. Objectives of the Sales Force B. The Sales Relationship-Building Process Prospecting Planning the Sales Call Presenting Responding to Objections Obtaining Commitment Building a Long-Term Relationship Relationships Can Lead to Partnerships C. People who

According to the VALS framework, consumers categorized as Experiencers and Makers are motivated primarily by _____. A. ideals B. achievement C. role models D. self-expression Answer: D.According to the VALS framework, consumers driven by a desire for social or physicalactivity, variety, and risk taking are motivated primarily by self-expression. These consumers include both

_____ refers to the consistency and dependability of the service performance. A. Responsiveness B. Empathy C. Reliability D. Assurance Answer: C.Reliability involves the consistency and dependability of the service performance. C.Reliability involves the consistency and dependability of the service performance. C. Reliability involves the consistency and dependability of the service performance. After a long run,

As a determinant of service quality, reliability involves the: A. consistency and dependability of the service performance. B. physical evidence of the service. C. levels of creativity of the services provided. D. knowledge and competence of service providers and the ability to convey trust and confidence. Answer: A.Reliability involves the consistency and dependability

Glazetech Inc., a software giant, is involved in the production of a technologically complex product that is the first of its kind in the market and is slated to be sold to the entire organization. Considering its uniqueness, its manufacturers quote a high price in the market. Considering these aspects,

According to the process of product adoption and diffusion, which of the following adoptive categories first begins to buy a product if the experience of innovators has been favorable? A. Laggards B. Early majority C. Late majority D. Early adopters Answer: D.If the experience of innovators is favorable, early adopters begin to buy.

Which of the following organizational growth strategies involves the creation of new products? A. Diversification strategy B. Cost leadership strategy C. Market development strategy D. Market penetration strategy Answer: A.The two growth strategies that involve the creation of new products are the diversification strategy and the product development strategy. Diversification involves the creation

Which of the following is true of the processes and tasks used to carry out market research? A. All nations take censuses and publish their census reports in English. B. Data contained in a census do not vary from country to country. C. Data contained in a census often omit items

The perceived risks related to the financial and performance considerations of a new purchase are defined as _____ risks. A. psychological B. social C. functional D. relational Answer: C.Perceived risk may be either functional (related to financial and performance considerations) or psychosocial (related to whether the product will further one's self- or reference-group

Which of the following is a disadvantage of using direct mail as an advertising medium? A. Lack of flexibility B. Relatively high costs C. Long closing periods D. Nonselectivity of audience Answer: B.One of the main disadvantages of using direct mail as an advertising medium is that it's relatively expensive and consumers often

When buying clothes, consumers may shop at several stores and compare a number of different brands and styles before purchasing an item without resorting to a complex analysis of the pros and cons of each brand and style. Identify the type of decision making involved. A. Extensive decision making B.

Which of the following refers to activities performed by sellers and others that accompany the sale of a product and that aid in its exchange or its utilization? A. Service products B. Raw material extractions C. Services D. Manufacturing activities Answer: C.Services, as a term, is also used to describe activities performed by

Which of the following is critical to providing an atmosphere that stimulates new product activity at the idea generation stage of the new product development process? A. Filtering of ideas from unusual sources B. Avoiding radical new product ideas C. De-emphasizing funneling of ideas for screening D. Facilitating top-management support Answer: D.Top-management support

Anchor Inc. is a retailer that acts as an intermediary for buyers and sellers. As a marketing intermediary, it serves several functions that include buying, selling, and assuming title risks for a manufacturer's products. Apart from them, it has to serve the function of facilitating a purchase order. In order

For which of the following products is a retailer most likely to use prestige pricing? A. Plastic storage containers B. Fresh fruits C. Frozen desserts D. Crystal wine glasses Answer: D.A retailer is most likely to use prestige pricing for crystal wine glasses. Prestige pricing is apricing strategy, in which a high price is

Which of the following is a research method that deals with manipulating one variable and examining its impact on other variables? A. Marketing audit B. Observational research C. Archival research D. Experimental research Answer: D.Experimental research involves manipulating one variable and examining its impact on other variables. Experiments are useful for getting a

The _____ of sales forecasting combines and averages the views of top management representing marketing, production, finance, purchasing, and administration. A. sales force composite method B. customer expectations method C. time-series analysis D. jury of executive opinion method Answer: D.The jury of executive opinion method combines and averages the views of top management

The _____ in an organization's buying center has the formal or informal power to select or approve the supplier that receives the contract in an organization. A. initiator B. influencer C. user D. decider Answer: D.It is common in organizational buying for purchases to be made cross-functionally with representatives from different functional departments playing

Price, promotion strategy, and channels of distribution are examples of _____. A. marketing dimensions B. marketing trends C. product features D. product attributes Answer: A.Altering the product means changing one or more of its attributes or marketing dimensions. Marketing dimensions refer to such things as price, promotion strategy, and channels of distribution. A.Altering the

Gary is a purchasing agent at Thought Cloud Inc., an advertising agency. He is formally vested with the responsibility of selecting suppliers of campaign material for a new advertising campaign that is being planned. He identifies a sole-sourcing relationship with Mark, an independent contractor, and negotiates terms of the contract for

Which of the following provides quantitative standards against which the performance of individual sales representatives or other marketing units can be measured? A. Sales strategies B. Sales calls C. Sales quotas D. Sales forecasts Answer: C.Sales quotas provide a quantitative standard against which the performance of individual sales representatives or other marketing units

Venus Inc. is a telecommunications firm that has been functioning for a number of years with the same kind of tariffs and offers. The firm still implements off-peak pricing and works according to the traditional management system. It has not introduced any innovative tariff plans. This implies that the organization has:

Which of the following is an ethical and legal concern associated with personal selling? A. Misrepresenting product health B. Encouraging materialism and excessive consumption C. Reinforcing unfavorable ethnic or racial stereotypes D. Using unauthorized mailing lists to reach consumers Answer: A.Misrepresenting product health is an ethical and legal concern associated with personal selling.Refer

An organizational purchase that involves extensive research, large investments, and happens occasionally is typically a _____. A. modified rebuy B. new task purchase C. just-in-time purchase D. straight rebuy Answer: B.Organizations purchase some products only occasionally, especially in the case of large investments such as machinery, equipment, and real estate. In these cases, the

Which of the following marketing research data collection methods allows respondents to answer surveys at their convenience and facilitate the evaluation of visual stimuli? A. Telephone surveys B. Internet surveys C. Face-to-face surveys D. Mall intercepts Answer: B.Two major advantages of Internet surveys are that they can be answered at the convenience of

Which of the following is true of sales promotion? A. Sales promotion can be an effective means for reaching people living in rural locations. B. Sales promotion is not effective in areas where media support for advertising is virtually nonexistent. C. Sales promotion cannot be used as a strategy for bypassing

Pluto Inc., a leather goods manufacturer, produces and sells a wide range of leather bags, wallets, purses, and belts. It recently opened an outlet in Mexico. However, since Mexico's per capita income is approximately one-third that of the U.S., Lolita's sales have dipped. Moreover, the extent of available financing in

Which of the following methods of determining the advertising budget views advertising as a function of sales, rather than sales as a function of advertising? A. The per-unit expenditure approach B. The research approach C. The competitive parity approach D. The task approach Answer: A.The per-unit expenditure approach is one in which a

Franklin Inc., an apparel manufacturer based in Scotland, opened a new store in the United States. Franklin's designs were well received by consumers in the host country. However, the firm incurred very high expenses due to the expensive rents and the higher costs of labor. Also, there was a hike

An advantage of using focus groups to conduct market research is that: A. they are flexible to use in a marketing study. B. they do not require expert moderators. C. they have a broad geographic dispersion. D. they prevent moderator bias. Answer: A.An advantage of using focus groups is that they are flexible

While making purchase decisions, which of the following products is most likely to elicit the greatest reference group influence? A. A car B. A medicine C. An award-winning novel D. A toothbrush Answer: A.In this case, an automobile is a product that other people see an individual using and therefore the reference group

An organization's mission statement must be _____ to be able to provide direction and guidelines to management when they are choosing between alternative courses of action. A. challenging B. broad C. generic D. specific Answer: D.An organization's mission statement must be specific to provide direction and guidelines tomanagement when they are choosing between

The research and development division of Anchor Inc., a manufacturing firm, has a sizeable number of engineers for its employees. The buying decisions related to the equipment to be used in the research and development of new technologies is primarily made by the engineers. Based on these traits, which of

A project team that comprises of members from different departments who work together toward jointly establishing new product development goals and priorities is known as a _____ team. A. intra-departmental B. global virtual C. task force D. cross-functional Answer: D.A cross-functional team consists of members from many different departments who come together to

Which of the following is an advantage of using radio as an advertising medium? A. It provides geographic flexibility. B. It faces no competition from competing advertisements. C. It appeals to the senses and provides a combination of sight, sound, and motion. D. It gains more attention from an audience than television. Answer: A.Radio

Which of the following critical components requires a management to clearly define the skills a service person must bring to the job? A. Energetic follow-through process by the service person. B. Significant modeling by managers on the service person. C. Careful selection process in hiring frontline employees. D. Emphasis on imbibing positive attitudes

Which of the following objectives of a salesperson involves selling additional or complementary items to repeat customers? A. Reassurance B. Orientation C. Information D. Persuasion Answer: D.Sale of additional or complementary items to repeat customers is a function of the persuasion objective of the sales force. D.Sale of additional or complementary items to repeat customers

Fred is a marketing manager consultant working in tandem with members from other functional areas that include engineering, production, and administrative staff. While evaluating a new product proposal, Fred and his team members from other functional areas work simultaneously toward reaching a conclusion. Which of the following methods is Fred's

In which of the following kinds of organizations do employees exhibit a moderate level of commitment toward performing their expected roles? A. Lethargic organization B. Innovative organization C. Adaptive organization D. Supportive organization Answer: C.In an adaptive organization, there is a moderate level of commitment toward performing their expected roles, whereas in a

Which of the following statements is true about organizing the multinational company? A. The integration of markets is forcing companies that wish to stay successful to remain domestic. B. In determining whether or not to globalize a particular business, managers should look first at their industry. C. A multidomestic strategy, as

In the context of the diffusion of innovation, _____ refer to the buyers who are the first to purchase a product. A. innovators B. early adopters C. laggards D. late adopters Answer: A.The spread of a product through the population is known as the diffusion of innovation. Innovators are those who are the

An advertising expenditure approach that initially formulates the advertising goals and defines the tasks to accomplish these goals is known as a(n) _____. A. objective approach B. task approach C. percentage sale approach D. functional approach Answer: B.Well-planned advertising programs usually make use of the task approach, which initially formulates the advertising goals

A producer of alcoholic beverages produces four different brands of beer: BlackStar, BlueStar, Grandeur, and Holmes. BlackStar is a standard brew, while BlueStar has low alcohol content. Grandeur is low in calories, and Holmes has high alcohol content. In this case, the manufacturer uses different brand names for each of

Using a competitive advantage strategy based on _____, a firm seeks to be unique in its industry or market segment along particular dimensions that the customers value. A. market penetration B. cost leadership C. market development D. product differentiation Answer: D.Using a strategy based on differentiation, a firm seeks to be unique in its

The number of different targeted audience members exposed at least once to the advertiser's message within a predetermined time frame is known as: A. "average frequency." B. "reach." C. "width." D. "depth." Answer: B.The number of different targeted audience members exposed at least once to the advertiser's message within a predetermined time frame

Postpurchase evaluation of a vendor and the product is necessary to: A. determine the dues that are payable to the vendor. B. compare the purchases of a firm with those made by competitors. C. determine whether the vendor and the product is acceptable for future purchases. D. know the strategic plan and

Which of the following factors is primarily concerned with how consumers perceive various prices or price changes? A. Environmental factors B. Psychological factors C. Demographic factors D. Sociological factors Answer: B.Psychological factors related to pricing concern primarily how consumers will perceive various prices or price changes. B.Psychological factors related to pricing concern primarily how

While shopping for grocery, Marissa is unsure about which brand of ready-to-serve pumpkin pies to purchase for the Thanksgiving dinner she has planned. To make the final decision, she calls her mother and buys the brand that she recommends. In this scenario, which of the following determinants has influenced Marissa's

Marketers who are aware that consistent investment spending is a key factor in advertising are: A. more likely to cut advertising budgets to fund price promotions. B. less likely to invest in advertising than discounting. C. less likely to raid their advertising budgets to increase earnings. D. more likely to view advertising

Which of the following statements is true about organizing the multinational company? A. Globalization, as a competitive strategy, is inherently less vulnerable to risk than a multidomestic or domestic strategy. B. In determining whether or not to globalize a particular business, managers should look first at their competitors instead of

In the context of new product development, the inability of a firm to satisfy customer needs can be attributed to: A. upfront intelligence efforts that prevent further development. B. failure on the part of the firm to stick close to its core competencies. C. excessive competition from inappropriate quarters. D. decline in

In an ideal selling situation, products that generate a maximum dollar profit with a minimum amount of risk should be: A. harvested or divested. B. developed and marketed. C. produced only for the local market. D. shelved for future use. Answer: B.Ideally, products that generate a maximum dollar profit with a minimum amount

A bonus is a type of incentive given to the sales force that is most likely to result in a potential performance outcome of: A. increased attention on selling new products. B. increased customer turnover. C. increased selling costs. D. increased full-line selling. Answer: A.In addition to straight dollar compensation, there are numerous other

Which of the following is true of a marketing decision support system? A. It is a coordinated collection of data, tools, and techniques to gather and interpret information for decision making. B. It requires search engine software and a word processing system to function. C. It cannot function without an efficient

When Lucile visited a stationery store to buy tape, she noticed that each roll of tape was priced at $1.99. In fact, most of the prices at the store were set a few dollars or a few cents below a round number. This indicates that the manager of the store is

Which of the following is true about missionary salespeople? A. They are used to focus exclusively on promotion of existing products and introduction of new products. B. They are used when a product is extremely high priced and is being sold to the whole organization. C. They provide training to the

The specialist viewpoint about the contribution of advertising to the economic health of a firm is primarily concerned with: A. viewing advertising as a competitive weapon. B. emphasizing the strategic aspects of the advertising function. C. measuring the effects of specific ads or campaigns. D. sales, profits, return on investment, and so

Fiona uses her credit card to purchase groceries at the local supermarket. It can be said that every time she swipes her card at the supermarket with every purchase, she is availing a service that is produced by the manufacturer for her consumption. In which case, every instance of the

Which of the following is a disadvantage of secondary data? A. Secondary data is not always available for strategy-specific research questions. B. Secondary data sources are more limited than sources of primary data. C. Secondary data is more expensive to obtain and utilize than primary data. D. Secondary data is collected specifically

Depending on the type of service, the _____ factor may dictate use of direct channels because of the need for personal contact between a buyer and a seller. A. perishability B. intangibility C. uniformity D. inseparability Answer: B.Depending on the type of service, the intangibility factor may dictate use of direct channelsbecause of the

With regard to global marketing research, which of the following is true of using census data for in-depth demographic information? A. Some countries publish census reports only in their native language. B. Data contained in a census are uniform across all countries. C. Census reports are the most reliable sources for securing