Jewels for the Rich and Famous sells very exclusive jewelry with a minimum price of
$25,000 to customers around the world. Speed of delivery to distant markets is a must.
Management should use ________ as its main carrier.
A) railroads
B) air
C) trucks
D) water
E) pipeline
Service ________ refers to the inevitable differences in a service provider’s
performance from one service encounter to the next.
A) inseparability
B) variability
C) personalization
D) responsiveness
E) intangibility
Which of the following is NOT an advantage of online questionnaires?
A) speed
B) low costs
C) almost instantaneous results
D) control over who respondents are
E) no geographic restrictions
Which of the following is an illegal sales technique?
A) retailtainment
B) a party plan system
C) a multilevel network
D) a pyramid scheme
E) off-price retailing
CRM firms focus on increasing their share of ________, not share of market.
A) profit
B) audience
C) segment
D) usage
E) customer
Mach 5 razor blades must be used in the Mach 5 razor. Which type of pricing is most
likely used for the razor blades?
A) penetration
B) value
C) captive
D) two-part
E) uniform delivered
Burger King developed a new french fry to compete with McDonald’s fry–considered
the world’s best. Burger King’s specifications included that the crunch would last for
seven or more chews. The product failed because consumers did not like the fry as
much as McDonald’s fry. It is most likely that Burger King did not ________ the idea
for both technical and commercial value.
A) patent
B) advertise
C) screen
D) promote
E) style
Bounce rate refers to ________.
A) the percentage of visitors to a website who share information about the site through
social media
B) the number of viewers who click on a banner ad on a website
C) the number of viewers who purchase a product through a website
D) the percentage of visitors to a homepage who bounce to other pages within the same
overall site
E) the percentage of visitors to a homepage who leave the overall site rather than
exploring other pages within the site
Which of the following is the best example of an activity metric?
A) the volume of sales made during a month
B) the volume of a competitors’ sales during a month
C) the number of sales calls made by a salesperson during a month
D) the value of a firm’s stock over a given month
E) the total profit made by a firm over a given month
According to your text, sales managers rate which of the following skills as the single
most important attribute they look for when hiring relationship salespeople?
A) presentation skills
B) technical skills
C) listening skills
D) questioning skills
E) time management skills
In firms with multiple SBUs, the first step in strategic planning is for top management
to ________.
A) recruit and hire the right personnel
B) examine historical data
C) establish a mission for the entire corporation
D) allocate resources to the company’s various SBUs
E) establish marketing’s short-term objectives
Which of the following countries has the highest per capita GDP?
A) China
B) Japan
C) Russia
D) Qatar
E) United States
In the communication model, the ________ can be any organization or individual that
intercepts and interprets a message.
A) medium
B) receiver
C) source
D) encoder
E) noise source
One objective of a small regional marketer of office supplies is to enter new markets.
Which of the following most accurately identifies a weakness of this objective?
A) It is not sustainable.
B) It is not attainable.
C) It is not realistic.
D) It is not specific.
E) It is not aspirational.
One of the barriers to greater reliance on ________ is the difficulty of gauging its
effectiveness.
A) online advertising
B) catalog marketing
C) direct mail
D) sales promotion
E) public relations
Within the market manager structure, managers focus on ________.
A) specific customer groups rather than specific products
B) specific products rather than specific customer groups
C) one or two specific brands
D) all company brands and all company customers
E) new product development and marketing
Concrete measures of various aspects of marketing performance are called ________.
A) operational plans
B) marketing metrics
C) action plans
D) marketing objectives
E) pricing strategies
Which of these statements about mass marketing is true?
A) A mass marketing strategy is always preferable to a target marketing strategy.
B) The success of any organization’s marketing efforts depends on its ability to engage
in mass marketing.
C) Mass marketing can be cost effective.
D) Mass marketing allows marketers to develop products to satisfy the specific needs
and wants of specific groups of customers.
E) Automakers typically use a mass marketing strategy.
Rack jobbers are limited-service merchant wholesalers who would most likely handle
which of the following?
A) imported plants
B) precious minerals
C) agricultural products
D) perishable food items
E) magazines
Which of the following statements about the lifetime value of a customer is true?
A) CRM helps companies identify their customers’ lifetime value.
B) All customers have the same lifetime value.
C) A customer’s lifetime value is easy to calculate.
D) A company can either increase customer share or a customer’s lifetime value, but not
both.
E) The value of the customer is related to the value of the brand.
Seth’s mother didn’t want to build a climbing wall as a permanent feature in her
backyard, but it was certainly convenient to rent one from the company that catered
Seth’s 12th birthday party. The catering company created both ________ utility when it
rented her the climbing wall.
A) form and place
B) place and creation
C) possession and price
D) time and place
E) creation and possession
Using ________, marketing researchers participate in real-life consumer activities to
get an understanding of how consumers actually use products.
A) mechanical observation
B) ethnography
C) focus groups
D) face-to-face interviews
E) telephone interviews
When determining a country’s ________, economists look at how the country is
attempting to reduce poverty, inequality, and unemployment in addition to considering
the country’s GDP.
A) forex rate
B) competitive environment
C) economic infrastructure
D) level of economic development
E) purchasing power parity
Identifying and targeting market segments that may be as small as just one individual is
known as ________.
A) geotargeting
B) micromarketing
C) psychographic segmenting
D) geodemography
E) usage segmenting
________ is the element of the promotion mix that involves direct interaction between a
company representative and a customer.
A) Word-of-mouth communication
B) Public relations
C) Advertising
D) Personal selling
E) Sales promotion
________ do not actually produce goods, but they do provide their customers with time,
place, and possession utility by making goods available when and where consumers
want them.
A) Resellers
B) End users
C) Not-for-profit organizations
D) Producers
E) Buying centers
A new pizza restaurant is opening in town. The owners of this restaurant decide to place
an advertisement in the town newspaper announcing the date of their big opening. The
owners of the restaurant are using ________.
A) mass communications
B) a push strategy
C) word-of-mouth communications
D) public relations
E) one-to-one marketing
Many countries outlaw ________, a practice in which a company prices its products
lower than they are priced at home.
A) gray marketing
B) parallel importing
C) black marketing
D) dumping
E) countertrading
A marketing strategy that enhances the shopping experience for experiential shoppers is
called ________.
A) sweethearting
B) retail borrowing
C) omnichannel marketing
D) nonstore retailing
E) retailtainment
The ________ for a guest paying for a night’s stay at a hotel is rest and sleep.
A) generic product
B) core product
C) value-deliverable product
D) augmented product
E) actual product
The gap between good buzz and bad buzz is referred to as ________.
A) groundswell
B) viral marketing
C) sock puppeting
D) brand polarization
E) the magnifying effect
Which type of segmentation centers on the use of the word when, such as when
consumers get the idea to buy, when they actually make their purchase, or when they
use the purchased item?
A) usage occasions
B) psychographic
C) needs
D) demographic
E) geotargeting
Which of the following identifies a difference between Twitter and Facebook?
A) Twitter is a broadcast medium, and Facebook is not.
B) Facebook is a broadcast medium, and Twitter is not.
C) Facebook is a location-based social network, and Twitter is not.
D) Twitter is a location-based social network, and Facebook is not.
E) Twitter is a part of the Internet of Things, and Facebook is not.
Write two questions that a firm would be likely to consider during the market planning
stage.
Describe the function of customer insights.
How has the Group of Seven (G7) recently expanded the issues it discusses in its annual
summits?
Explain three ways in which Big Data can help marketers create competitive
advantages.
A car company is marketing a new car model that is larger and more luxurious than any
of the models currently in the product line. It is also significantly more expensive.
Explain the strategy this car company is using with its product line.
What is the difference between a mass market and a market segment?
How can marketers use elements of the marketing mix to improve product quality?
Compare and contrast the structure and uses of exploratory research and descriptive
research.
A gambling casino gives its high-spending players free rooms in its hotels along with
free meals and tickets to the entertainment shows at the casino. What application of data
mining is the casino using?
Why are companies often eager to form joint ventures?