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The promotion element of the marketing mix includes the design of the product.
Customers whose complaints are resolved quickly are no more likely to buy from the
same company again than are customers whose complaints are resolved slowly.
Data about how consumers use everyday products is likely to increasingly be
communicated through the Internet of Things.
A company in an industry characterized by monopolistic competition is most likely to
adopt status quo pricing objectives.
A venture team is typically composed of a brand manager, product category manager,
and market manager.
The idea of buzz isn't really new, but the magnifying effect that technology has on the
spread of buzz is new.
One of the advantages of test marketing is the ________.
A) low cost
B) ability to keep information from falling into competitors' hands
C) opportunity to survey prospective customers
D) ability to evaluate a product and its marketing program before commercialization
E) opportunity to sell existing products to a core customer base
Once managers of The Grecian Urn have decided on their product concept and
marketing strategy, they can evaluate the business attractiveness of the proposal in the
________ stage of the new-product development process.
A) product screening
B) feasibility study
C) market test
D) prototype
E) technical development
Which of the following best describes the components of the marketing mix?
A) all aspects of the marketing environment
B) everything considered during functional planning
C) product, price, place, and promotion
D) production, price, distribution, and people
E) people, product, price, and placement
Which of the following is NOT an example of a business service?
A) security
B) insurance
C) legal advice
D) raw material supply
E) cleaning
A manufacturer of acrylic, latex, and nitrile gloves sells to medical laboratories,
factories where employees handle chemicals, companies that manufacture micro-tech
equipment, and cleaning services. The company is organized to better satisfy the
specific needs of each of its four target markets, so it uses a ________ structure.
A) product category
B) market manager
C) brand manager
D) venture team
E) family brand
Tara Keegan owns Live Well, a small chain of health stores offering a variety of natural
health products and related services. In order to implement integrated marketing
communications, Tara has hired a marketing communications director, whose job it will
be to ensure that each ________ will deliver a consistent and positive message to
consumers about the company.
A) public relations message
B) touchpoint
C) advertisement
D) logo
E) media vehicle
A purchase decision made with some but not extensive effort is classified as ________.
A) habitual decision making
B) extended problem solving
C) compensatory deciding
D) determinant attributing
E) limited problem solving
In most companies, ________ is a well-defined and systematic approach to innovation.
A) research and development
B) diffusion
C) adoption
D) positioning
E) augmentation
Vice presidents of large companies are typically in charge of ________ planning.
A) business
B) strategic
C) operational
D) functional
E) day-to-day
________ is an internal state that drives consumers to satisfy needs.
A) Motivation
B) Interpretation
C) Learning
D) Affect
E) Conditioning
When a consumer is determining her overall feelings or attitudes about a product after
purchasing it, she is involved in the ________ step of the consumer decision-making
process.
A) problem recognition
B) information search
C) evaluation of alternatives
D) product choice
E) postpurchase evaluation
The Asian American segment of the population ________.
A) is the largest ethnic group market segment
B) does not yet receive significant attention from marketers
C) has shrunk in the last 10 years
D) is the fastest growing minority group in the United States
E) is too geographically dispersed to form a meaningful market segment
The Tim Hortons chain accounts for more than half of all the donut and coffee stores in
Canada. The chain's red-and-white store banners are fixtures in many Canadian
communities. In 2001, the first Tim Hortons appeared in the United States through a
contractual agreement allowing an independent operation to adopt Tim Hortons' entire
way of doing business. This agreement is an example of a(n)________.
A) direct investment
B) franchise
C) export merchant
D) strategic alliance
E) joint venture
A ________ is a desire for a particular product a consumer uses to satisfy a need in a
specific way that is culturally and socially influenced.
A) benefit
B) demand
C) value
D) utility
E) want
Which of the following statements about business-to-business channels is true?
A) Direct channels are more common in business-to-business markets than consumer
markets.
B) Business-to-business channels have few parallels with consumer channels.
C) The size of business markets makes indirect channels more efficient.
D) Indirect channels are more common in business-to-business markets than consumer
markets.
E) When an industrial distributor is included in a business-to-business channel, the
channel is by definition direct.
An advertisement for the Blue Ridge Parkway (a highway) that runs from the
Shenandoah Valley to the Smokey Mountains describes the highway as a "trip back in
time." This is an example of ________.
A) idea marketing
B) place marketing
C) social marketing
D) services marketing
E) the market fulfillment approach
When setting prices, a company must consider factors in its pricing environment.
________ such as the business cycle, economic growth, and consumer confidence can
have a significant impact on the firm's pricing strategies.
A) Consumer trends
B) Economic trends
C) Competitors' responses
D) Regulations
E) Market structures
Nongovernmental organizations are also known as ________.
A) consumer organizations
B) public organizations
C) private organizations
D) not-for-profit organizations
E) for-profit organizations
________, such as Target and Kohl's, provide merchandise return and offer credit, but
customers select merchandise without much assistance.
A) Self-service retailers
B) Full-service retailers
C) Specialty retailers
D) Off-price retailers
E) Limited-service retailers
The marketing team at Joe's Auto World wants to use the information it collected from
last year's online advertising campaigns, the most recent Census, and the company's
internal CRM system to forecast the effectiveness of two proposed advertising
campaigns for the upcoming year. To accomplish this, the marketing team at Joe's Auto
World will most likely use ________.
A) marketing controls
B) conversion rates
C) sentiment analysis
D) predictive analytics
E) search engine optimization
Susannah owns a one-bedroom apartment in Manhattan that she posts for short-term
weekend and summer rentals on Craigslist when she plans to be out of town. This is an
example of ________.
A) not-for-profit marketing
B) institutional marketing
C) collaborative consumption
D) people marketing
E) consumer-generated marketing
Which of the following best describes the market segment referred to as the bottom of
the pyramid (BOP)?
A) a national segment of lower income consumers
B) a national segment of non-native language speakers
C) a national segment of individuals with a high-school only education
D) a global segment of consumers who earn less than $2 per day
E) a global segment of children in lower income families
In a(n) ________, there is a two-way exchange of information between purchasing
organizations.
A) data warehouse system
B) intelligent agent approach
C) channel partner model
D) data broker system
E) market basket analysis
Which of the following is a limitation of the BCG matrix?
A) It doesn't help managers determine which SBUs need investment to grow.
B) It doesn't help managers determine which SBUs should be dropped from the
portfolio.
C) It focuses on the future of the market rather than current conditions.
D) It doesn't tell managers the best ways to make growth happen.
E) It can't be used by corporations with multiple SBUs.
Because of ________, it can be difficult to decide what data are useful and what data
are not useful.
A) conversion rates
B) predictive analytics
C) unstructured data
D) search engine optimization
E) information overload
In one-to-one marketing, the final step is to ________.
A) interact with the customers and find ways to improve cost efficiency
B) prioritize efficiency of interactions with customers
C) differentiate among these customers in terms of both their needs and their value to
the company
D) customize some aspects of the products or services offered to each customer
E) implement a mass customization program
Planning and implementing special events are typically responsibilities of ________.
A) a planning agency
B) a full-service agency
C) creative services
D) the PR department
E) the sales promotion department
In which stage of the creative selling process would the salesperson say, "What quantity
would you like to order?"
A) preapproach
B) close
C) qualify
D) handle objections
E) follow-up
Which of the following is NOT a type of pricing objective?
A) elasticity
B) market share
C) profit
D) competitive effect
E) image enhancement
Prep for Success is an educational services company that specializes in preparing
students for selective private school entrance exams. Prep for Success sends
information about its services to consumers who have purchased school supplies such
as backpacks and lunchboxes online and live in a community with an average
household income of above $85,000 per year. This is an example of a company using
________ to identify and contact potential customers.
A) the Internet of Things
B) sentiment analysis
C) unstructured data
D) information overload
E) Big Data
BMW allows customers to design their own vehicles from a set of options at BMW's
website. What is this called?
What is ingredient branding? Why would manufacturers want to engage in ingredient
branding?
Why might a researcher decide to use causal research rather than descriptive research?
Explain what advantages a company might see in using an intranet.
Jay Minkoff at First Flavor may use the Boston Consulting Group (BCG) matrix to help
him make decisions for his firm. What does he need to understand about the purpose of
the matrix and the four categories of the BCG growth-market share matrix?
How do product development strategies create growth? Give an example of how a
company could use a product development strategy.
Explain the concept behind a dual distribution system.
What types of products are exclusively distributed?
Compare the three business-to-business buyclasses.
How can a company benefit from just-in-time inventory techniques?
A fast-food chain wanted to add a new product to its breakfast menu. The company
considered a pancake shaped like a muffin. The problem was determining how a
customer would add syrup to the pancake while eating and driving. Fortunately, one of
the company's suppliers developed a crystallized syrup that seeps through the pancake
once it is heated. Explain the phase of new-product development that occurred during
this process with the chain and its supplier. Support your rationale.
Describe the function of an economic community and explain how its policies can be
advantageous to marketers. Give two examples of important economic communities.
What promotional efforts would a marketer be likely to employ if the communication
objective was to encourage purchase of the product?
What are the advantages of digital currencies such as Bitcoin?
In a marketing context, a person's attitude has three components. What are these
components? List and briefly describe each in the context of marketing.
