In the model of buyer behavior, which of the following is NOT a major type of force or
event in the buyer’s environment?
A) economic
B) technological
C) social
D) political
E) cultural
For concept test, companies will frequently present customers with ________ of the
concept for a reliable concept test.
A) a verbal description
B) a PowerPoint slide
C) a picture
D) a physical presentation
E) a printed paragraph
Pacific Fisheries divides its customers into different regional units, such as Asia,
Australia, and the Americas. This is an example of ________ segmentation.
A) demographic
B) psychographic
C) geographic
D) occasion
E) benefit
What is the purpose of marketing analytics?
A) to obtain secondary data and integrate it with primary data
B) to gather and integrate data in a central, accessible location
C) to interpret the data obtained
D) to prevent the theft of customer data
E) to identify and discard outdated data
Which of the following involves costs that most likely occur during the
commercialization stage of new product development?
A) building or renting a manufacturing facility
B) paying target customers for product feedback
C) determining the product’s planned distribution
D) developing a prototype of the product
E) identifying target markets
A restaurant wants to use value-based pricing. It knows the costs of the ingredients in
the food. It must also factor in ________ in determining customer satisfaction and
value.
A) wages of employees
B) costs of utilities of the restaurant
C) atmosphere and dcor of the restaurant
D) travel distance for customers
E) percentage of bar patrons versus dining patrons
________ are two or more outlets that are commonly owned and controlled.
A) Corporate chains
B) Convenience stores
C) Off-price retailers
D) Independent off-price retailers
E) Power centers
When Verizon Wireless began offering the iPhone, it used its “Can you hear me now?”
slogan to attack AT&T’s rumored spotty service. This example best illustrates
________.
A) informative advertising
B) reminder advertising
C) comparative advertising
D) covert advertising
E) institutional advertising
Noticing that themed envelopes aren’t selling well, Charles Payton decides to offer
customers a special “letter writing” kit. He prices the kit—which comprises letter paper,
matching envelopes, and pens—at $5, even though the combined prices of the
individual items is $8. Which of the following pricing strategies is he using?
A) optional product pricing
B) product bundle pricing
C) by-product pricing
D) dynamic pricing
E) captive product pricing
Companies that adopt value-added pricing ________.
A) consider value-added features as a fitting substitute for aggressive cost cutting
B) set incredibly low prices to meet competition
C) attach value-added features and services to differentiate their offers and support their
higher prices
D) overprice their products without any apparent justification
E) underprice their products and lower quality to boost demand in the short-run
After a brief stay at a luxury hotel in Paris, Benjamin Sanders noted that the hotel had
kept every promise it made when he booked the room, meeting all his needs. He added
that it was a “thoroughly comfortable and opulent experience.” According to Young &
Rubicam’s Brand Asset Valuator, this reflects brand ________.
A) valuation
B) esteem
C) relevance
D) differentiation
E) knowledge
Setting prices below cost, threatening to cut off business with suppliers, and
discouraging the purchase of a competitor’s products are all examples of ________.
A) oligopolistic competition
B) social costs
C) predatory competition
D) acquisitions
E) cultural pollution
Which of the following is Giant Beanstalks’ upstream partner?
A) the management of Greenleaf
B) the farmers of Riverdale
C) the trucks that carry Giant Beanstalks’ products to Greenleaf
D) the end-consumers who buy the canned vegetables from Greenleaf
E) the logistics division of Giant Beanstalk
________ creates a seamless cross-channel buying experience that integrates in-store,
online, and mobile shopping.
A) Shopper marketing
B) Point-of-purchase marketing
C) Social media marketing
D) Virtual marketing
E) Omni-channel retailing
________ are large and highly automated warehouses designed to receive goods from
various plants and suppliers, take orders, fill them efficiently, and deliver goods to
customers as quickly as possible.
A) Loading docks
B) Open warehouses
C) Distribution centers
D) Shipping platforms
E) Product platforms
________ is a pricing strategy in which the company sets up two or more clearly
identified geographic regions within which all customers pay the same total price.
A) Freight-absorption pricing
B) Zone pricing
C) Uniform-delivered pricing
D) FOB-origin pricing
E) Basing-point pricing
The aim of ________ is to make an advertisement so useful or entertaining that people
want to watch it.
A) branded entertainment
B) advertainment
C) viral marketing
D) buzz marketing
E) word-of-mouth advertising
A new task situation presents ________.
A) low risk for the buyer
B) the fewest decisions for the buyer
C) the least information required
D) the greatest opportunity and the greatest challenge to the marketer
E) the smallest number of decision participants
Which of the following is an example of trade promotion?
A) manufacturers offering regular value-for-money deals to attract thrifty and
value-conscious customers
B) salespeople engaging in door-to-door selling activities
C) manufacturers offering free merchandise to resellers who feature a certain flavor or
size
D) advertisers claiming that a certain product is the best in the market
E) marketers selling specialty products to a small segment of customers with unique
preferences
Which of the following statements about outdoor media is true?
A) It has no creative limitations.
B) It is characterized by higher costs per exposure.
C) It has good positional selectivity.
D) It has very limited flexibility.
E) It has high audience selectivity.
Which of the following stages in the new product development would a firm engage in
immediately after the completion of concept testing?
A) idea screening
B) marketing strategy development
C) business analysis
D) product development
E) idea generation
Each department in a company that carries out value-creating activities can be thought
of as a link in the company’s ________.
A) channel of intermediaries
B) external value stream
C) demand chain
D) internal value chain
E) supplier chain
Environmentalists assert that the marketing system’s goal should be to maximize
________.
A) sales and profits
B) consumer satisfaction
C) life quality
D) consumer choice
E) consumption
Ralph Goldsmith works for Zenith Inc., a leading cosmetic company based in Illinois.
At Zenith, Ralph’s primary responsibility revolves around digging deeply into customer
data to gain valuable insights about customer needs, motives, and attitudes. This data is,
in turn, used by Zenith to personalize its customers’ shopping experiences. Ralph’s
position at Zenith requires him to focus primarily on ________.
A) customer sales
B) human resource management
C) risk assessment
D) financial analysis
E) customer relationship management
In a SWOT analysis, which of the following would be considered a strength?
A) industry trends
B) technological shifts
C) environmental demands
D) performance challenges
E) internal capabilities
Which term refers to looking at merchandise at a traditional store and then purchasing
the merchandise online?
A) pop-up shopping
B) wheel-of-retailing
C) off-price retailing
D) showrooming
E) wholesaling
Lower costs in the form of cheaper labor or raw materials, foreign government
investment incentives, freight savings, and the opportunity to improve the company
image are the factors that would most likely lead a company to enter a foreign market
using the market entry strategy of ________.
A) direct exporting
B) licensing
C) management contracting
D) indirect exporting
E) direct investment
Indiana Wood can be best classified as a(n) ________.
A) full-service retailer
B) industrial distributor
C) self-service retailer
D) warehouse club
E) limited-service retailer
When sellers set prices after talking to competitors and engaging in collusion, they are
involved in ________.
A) interstate commerce
B) comparative pricing
C) price fixing
D) skimming pricing
E) price bundling
Segmented pricing is only effective when ________.
A) the segments show similar degrees of demand
B) the cost of segmenting does not exceed the revenue obtained from the price
difference
C) the segmented prices do not reflect real differences in customers’ perceived value
D) the customers of different socio-economic classes are treated according to their rank
E) companies make their services and products accessible exclusively to wealthy
patrons
Discuss customer intimacy. Why is it important? Provide an example of a company that
successfully abides by this value discipline.
How do companies identify attractive market segments? How do they choose a target
marketing strategy?
What is the purpose of benchmarking?
Explain product line pricing.
Briefly explain why the European Union could be considered a threat to U.S. marketers
that want to do business in Europe.
What are the various components of the value delivery network of a company?
You are a manufacturer of tents, sleeping bags, and outdoor cooking equipment. How
might you go about creating brand experiences for your customers?
Compare and contrast the four types of products in the societal classification of
products. Provide examples of each.
Briefly discuss monopolistic competition.
Why do population shifts interest marketers?
Compare the three different types of industrial structures.
Why is identifying predatory pricing difficult?
Discuss the challenges and advantages of new communication technologies for
marketers as they work to build relationships with their customers.
Why are critics concerned about companies acquiring competitors?
What are the desirable qualities for a brand name?
Describe social selling and what changes it is bringing to the selling process.
Describe the differences between chain stores and franchises.