A serviceproviding firm that does little or no customer satisfaction research is most
likely to experience a gap between ______.
a. the service quality specifications and the service that is actually provided
b. the customers’ wants and what management thinks customers want
c. what the company provides and what the customer is told it provides
d. management’s perception of what customers want and the quality specifications it
develops
Marketing research helps managers gauge the perceived value of their goods and
services, as well as the level of customer satisfaction.
a. True
b. False
Which statement is true of networking?
a. Approaching potential buyers without any prior knowledge of the prospects’ needs or
financial status
b. Using friends, business contacts, acquaintances, and fellow members in organizations
to identify potential clients
c. Doing the “homework” that must be done by a salesperson before he or she contacts
a prospect
d. Determining a customer’s specific needs and wants and the range of options the
customer has for satisfying them
Which of the following statements is true of the product life cycle (PLC)?
a. The PLC dictates the marketing strategy to be used for a product.
b. A product spends the same amount of time in the different stages of the life cycle.
c. The PLC for a product form is longer than the PLC for any one brand.
d. Changes in a product, its uses, its image, or its positioning do not affect its life cycle.
Generally, the intensity of distribution in a serviceorganization’s marketing mix should
exceed the target market’s needs and preferences.
a. True
b. False
Which of the following cannot be considered a competitive advantage of a firm?
a. High product quality
b. Same level of service as offered by a competitor
c. Rapid delivery
d. Low prices
Which of the following processes is used in social media monitoring?
a. Personal selling
b. Crowdsourcing
c. Sentiment analysis
d. Brandjacking
A product’s benefit is simply a feature of the product such as its easyopen package,
special formulation, or new lower price.
a. True
b. False
Which strategy uses technology to deliver tailormade services on a large scale?
a. Place strategy
b. Promotion strategy
c. The service mix
d. Mass customization
A company selling plain toilet paper is an example of a firm that uses an
undifferentiated targeting strategy.
a. True
b. False
Which of the following is correct about a sustainable competitive advantage?
a. It is not attractive because of its durability.
b. It cannot be copied by the competition.
c. It lowers costs by removing frills.
d. It does not offer any lowpriced products.
Which of the following promotional approaches is most commonly used by toothpaste
brands and other consumer products that are wellestablished?
a. Reminder promotion
b. Persuasive promotion
c. Informative promotion
d. Connective promotion
Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of
table sauces. To offer more variations to its customers, Daily Farm recently launched an
olive and pepper sauce. According to new product development, this new sauce would
be categorized as an improved product.
a. True
b. False
Which of the following could be a motive for a company going global?
a. It can earn additional profits.
b. It has a unique product or technological advantage not available to other international
competitors.
c. Management may have exclusive market information about foreign customers.
d. All of the above
The assertion, “price is that which is given up to get a good or service” indicates which
of the following effects of price?
a. The sacrifice effect of price
b. The information effect of price
c. The perceived satisfaction effect of price
d. The quality effect of price
When a firm believes that employing aggressive sales techniques would help sell their
product in the market and achieve high profits rather than designing their product based
on the desires and needs of the consumers, then the firm is said to have adopted a
______ orientation.
a. production
b. sales
c. market
d. societal
In addition to making shopping easy and convenient for the customer, an effective
layout:
a. heightens the olfactory sense of the customers.
b. provides customers with the ability to easily replace sold items.
c. can persuade customers to purchase expensive products.
d. has a powerful influence on traffic patterns and purchasing behavior.
The success of any business or consumer product depends in part on the ability of
consumers in the target market to distinguish one product from another.
a. True
b. False
A good salesperson perceives objections as a hindrance to the purchase decision.
a. True
b. False
A premise of the Boston Consulting Group model states which of the following?
a. Diversification strategies can be risky when firms enter unfamiliar markets, even
with little or no competition in those markets segments.
b. The cash generated from cash cows should be allotted to SBUs considered to be
question marks and dogs, instead of stars.
c. Management must find a balance among the SBUs that yields the overall
organization’s desired growth and profits with an acceptable level of risk.
d. Companies must rely on new, unfamiliar assets to develop the type of breakthrough
decisions that would determine their sustainability in the future.
A marketing strategy that entails the creation of marketable new products; the process
of converting applications for new technologies into marketable products is called
______.
a. product development
b. niche marketing
c. idea screening
d. commercialization
Which of the following is true of freestanding store locations?
a. They may have the advantages of low site cost or rent.
b. They may have many nearby competitors to contend with.
c. They may have the advantages of easy access to customers.
d. They may have the option to share costs with nearby retailers.
Comparably speaking, which of the following would have the highest observability in
terms of its rate of acceptance and diffusion?
a. A new line of trousers
b. A musical instrument
c. A medicinal tea
d. A social media app
Which of the following strategies can enable companies to gain a cost competitive
advantage?
a. Removing frills from products
b. Focusing on serving marginal customers
c. Eliminating reverse engineering efforts
d. Developing additional, exclusive functional departments
In the consumer decision making process, _____ extends customer interactions to new
sources of value, such as related products or partnered businesses.
a. automation
b. journey innovation
c. proactive personalization
d. contextual interaction
Which of the following is true of media sharing sites?
a. They allow users to upload and distribute multimedia content such as videos or
photos.
b. They are jobsearch websites such as LinkedIn where you can also post rsums.
c. They allow users to add their reviews of products with restricted postlength limits.
d. They allow individuals to network with friends, peers, and business associates.
Which of the following identifies a difference between a boycott and a quota?
a. A boycott sets a limit on the amount of goods entering a country, whereas a quota is a
tax levied on goods entering a country.
b. A boycott is the revenue received from international trade, whereas a quota is the
revenue received from domestic trade.
c. A boycott is used to include all foreign competition, whereas a quota is used by
governments to exclude companies from countries with which they have a political
dispute.
d. A boycott is the exclusion of all products from certain countries or companies,
whereas a quota is a means of protection from foreign competition.
A product information source that originates with marketers promoting the product is
referred to as a(n) ____________________________________.
a. manipulative information source
b. internal information source
c. secondary information source
d. marketingcontrolled information source
Which of the following statements is true of service failures?
a. These can be eliminated by successful market segmentation.
b. Retailers cannot recover from service failures.
c. These can be solved by canceling return policies.
d. If handled effectively, these can result in higher customer loyalty.
A price tactic that requires the buyer to absorb the freight costs from the shipping point
is called ______________.
a. valuebased pricing
b. FOB origin pricing
c. uniform delivered pricing
d. zone pricing
A company that offers the same services as its competition has a competitive advantage.
a. True
b. False
The _____ is a model that outlines the process for achieving promotional goals in terms
of stages of consumer involvement with a promotional message.
a. BCG matrix
b. IMC model
c. AIDA concept
d. SWOT matrix
Typically, more people are involved in a single business purchase decision than in a
consumer purchase decision.
a. True
b. False
Which of the following statements is true of internal marketing?
a. Internal marketing is applicable only to the employees of goods manufacturers and
not of service firms.
b. The quality of a firm’s employees is an important part of building longterm
relationships with customers.
c. Customers are treated as potential employees as they become the delivery vehicle of
the purchased products.
d. Different manufacturers exchange goods internally in an attempt to curb a negative
competitive spirit.
Define the characteristics of strategic business units (SBUs).
Discuss how the mobile platform is emerging as an effective marketing technology;
then identify and briefly describe the range of various mobile marketing tools.
Define Baby Boomers and their relevance for marketers.
Discuss how the casuist ethical theory differs from moral relativism theory and describe
their drawbacks.
Discuss the importance of market segmentation.
Describe the nature of strategic planning.
Discuss the impact of international trade on the United States.
Discuss the process of implementing a marketing plan.
Discuss the significance of content marketing as a trend in BtoB Internet Marketing.
Identify and describe three issues related to the selection of target markets that are
unique to nonprofit service organizations.
Explain the sequence and stages of the consumer decision journey.
Discuss the elements of the promotional mix and how they influence the target
audience.
Discuss the market penetration strategy of Ansoff’s strategic opportunity matrix, and
provide examples of how companies implement this strategy.
What are the disadvantages of globalizing a company’s supply chain?
Identify and explain the importance of cultural influences and how they affect consumer
decision making.
Explain the different stages of the product life cycle and how marketers adjust their
promotion mix for the most successful impact at each stage.
Discuss what is meant by causerelated marketing and how it differs from philanthropy.
Explain how business establishments are classified under the North American Industry
Classification System (NAICS).