Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
In the general needs description of the buying process, the buyer describes the
characteristics and quantity of the needed item.
A product line consists of unrelated products that are sold to diverse customer groups.
A specific communication task to be accomplished with a specific target audience
during a specific period of time is called an advertising objective.
During the presentation step of the selling process, the salesperson tells the "value
story" to the buyer, showing how the company's offer solves the customer's problems.
Business buyers are subject primarily to economic influences when they make their
buying decisions. Emotional or personal factors rarely are involved.
The direct mail medium has very low cost per exposure.
Buyers prefer to work with salespeople who are good listeners.
For international researchers, language is a primary obstacle.
Companies seldom solicit ideas from customers during the idea generation stage of
product development.
Market offerings are limited to physical products.
Critics of marketing view consumer interest in material things as a natural state of mind
rather than as a matter of false wants created by marketing.
Business norms vary from country to country. A company will likely be more
successful in expanding internationally if it understands cultural traditions, preferences,
and behaviors in the target countries.
If a company has numerous and complex products, it can adopt a product sales force
structure in which the sales force specializes along product lines.
Social media sites primarily exist for broad topics, making it difficult for marketers to
appeal to smaller communities and niche markets.
Fast Food, Inc. views marketing as the process of finding and retaining profitable
customers by providing them with the food they want. Fast Food, Inc. practices societal
marketing.
As more developed markets stagnate and become increasingly competitive, many
marketers are now targeting growth opportunities in emerging markets.
Retail convergence means lower competition for retailers and lower difficulty in
differentiating the product assortments of different types of retailers.
Many companies now use customer profitability analysis to identify and weed out
unprofitable customers.
The simplest pricing method is cost-plus pricing, which involves adding a standard
markup to the cost of the product.
The percentage-of-sales budget is based on the availability of funds rather than on
opportunities.
Product differentiation refers to the way a product is defined by consumers on
important attributes—the place the product occupies in consumers' minds relative to
competing products.
Postpurchase behavior is the stage of the buyer decision process in which consumers
take further action after purchase, based on their satisfaction or dissatisfaction.
Good-value pricing usually is used by premium brands, and rarely by less-expensive
brands.
A company's product mix has four important dimensions: width, length, depth, and
consistency.
Sales force management refers to hiring and training the sales force.
While cuts in advertising may appear to do little short-term harm to sales, reducing ad
spending may cause long-term damage to a brand's image and market share.
Most major companies have now appointed a chief privacy officer (CPO), whose job is
to safeguard the privacy of the companies in the international business environment.
A strip mall contains between 5 and 15 retail stores.
Product stewardship involves minimizing not only pollution from production and
product design but also all environmental impacts throughout the full product life cycle,
and accepting increased costs.
The societal marketing concept calls on marketers to balance consumer wants and
desires, company profits, and society's interests.
A brief glimpse of the latest LG phone on the television series Modern Family is an
example of an advertainment.
The major activity in strategic planning is product innovation.
According to the overall cost leadership competitive strategy, the company works hard
to achieve the lowest production and distribution costs.
The EU acts as an umbrella organization that oversees GATT and mediates global
disputes.
The percentage-of-sales method wrongly views sales as the cause of promotion rather
than as the result.
At JCPenney, a mid-level department store, customers shop for moderately priced
products and they are assisted in some phases of the shopping process. JCPenney is a
________.
A) full-service retailer
B) limited-service retailer
C) self-service retailer
D) specialty store
E) superstore
Critics point to which of the following factors when they accuse marketing of harming
consumers through high prices?
A) quotas
B) nontrade tariffs
C) excessive markups
D) government taxes
E) changes in currency values
The objective of causal research is to ________.
A) test hypotheses about cause-and-effect relationships
B) gather preliminary information that will help suggest hypotheses
C) describe things, such as the market potential for a product
D) assign a cause to a seemingly random event
E) predict the effect of a random event on unrelated entities
________ products give both high immediate satisfaction and high long-run benefits.
A) Deficient
B) Pleasing
C) Desirable
D) Salutary
E) Threatening
Several structural factors affect long-run segment attractiveness. These include all of
the following EXCEPT ________.
A) easy entry by new competitors
B) the segment does not match the company's long-run objectives
C) strong and aggressive competitors
D) many substitute products
E) power of buyers
Kevin is a salesperson working for a company that manufactures gardening tools. He is
involved in door-to-door sales and travels every day to call on customers. In his
company, Kevin is most likely a part of the ________.
A) top management
B) inside sales force
C) product designing team
D) customer support team
E) outside sales force
Milt Alden says that his line workers "know each product like the back of their hands,"
and that this knowledge helps the company keep its prices low. This indicates that
Alden Manufacturing most likely benefits from the ________.
A) cost-plus pricing
B) value-added pricing
C) experience curve
D) inelastic demand in the market
E) derived demand in the market
Which of the following is NOT an accurate description of modern marketing?
A) Marketing is the creation of value for customers.
B) Marketing involves managing profitable customer relationships.
C) Marketing emphasizes selling and advertising exclusively.
D) Marketing involves satisfying customers' needs.
E) Marketing is building value-laden exchange relationships with customers.
________ consumers are the most affluent U.S. demographic segment and are expected
to have an annual buying power approaching $1 trillion by 2017.
A) Hispanic American
B) African American
C) Asian American
D) Baby boomers
E) Generation X
Which of the following terms refers to a specific mix of human traits that may be
attributed to a particular brand?
A) brand perception
B) brand identity
C) brand personality
D) brand concept
E) brand equity
Nintendo, producer of the Wii video game console, might define its competitors as
other makers of physically interactive video games. But from a(n) ________ point of
view, it would include all firms making physically interactive recreational products.
A) industry
B) market
C) segment
D) niche
E) interdependent
All of the following are traits that buyers dislike in salespeople EXCEPT ________.
A) disorganization
B) tardiness
C) empathy
D) being overly talkative
E) deceit
Retailers connect brands with consumers in the ________ phases of the buying process.
A) need identification
B) evaluation of alternatives
C) final
D) information gathering
E) post-purchase
After creating a message strategy statement, the advertiser must develop a compelling
________ that will bring the message strategy to life in a distinctive and memorable
way.
A) creative concept
B) customer strategy
C) customer benefit
D) execution style
E) media vehicle
________ are a type of limited-service wholesaler who does not carry inventory or
handle a product. They typically operate in bulk industries, such as coal, lumber, and
heavy equipment.
A) Wholesale merchants
B) Industrial distributors
C) Cash-and-carry wholesalers
D) Rack jobbers
E) Drop shippers
A gym equipment manufacturer encourages customers to become members of the firm's
Web site. Membership provides customers with exercise tips as well as discounts on
gym equipment and workout apparel. This is an example of ________.
A) a frequency marketing program
B) a basic customer relationship
C) a club marketing program
D) the selling concept
E) consumer-generated marketing
According to the text, the search for new product ideas should most likely be ________.
A) intermittent
B) holistic
C) segmented
D) compartmentalized
E) flexible
Producers of strong brands sometimes sell to dealers only on the condition that dealers
take some or all of the rest of a product line. This practice is known as ________.
A) product line franchising
B) selective dealing
C) cross merchandising
D) full-line forcing
E) disintermediation
Jason Perkins has the informal power to approve the final suppliers in his organization.
In other words, Jason plays the role of a(n) ________ in his organization's buying
center.
A) gatekeeper
B) decider
C) buyer
D) influencer
E) user
Kraft has adapted its popular Oreo cookie to the unique tastes of consumers all around
the world, whether it's mango-and-orange flavored Oreos in the Asia Pacific region,
green tea Oreos in China, a chocolate and peanut variety in Indonesia, or banana and
dulce de leche in Argentina. This is an example of ________.
A) product invention
B) straight product extension
C) product adaptation
D) product augmentation
E) communication adaptation
Consumers in the "lifestyles of health and sustainability" market are more likely to seek
________.
A) alternative medicine
B) perfumes made from animal products
C) clothing made of fur
D) leather goods
E) foods high in saturated fat
A company's broad mission leads it to develop all of the following EXCEPT ________.
A) budget objectives
B) business objectives
C) sales objectives
D) marketing objectives
E) customer engagement objectives
Information in a company's database can come from many sources. An advantage of
harnessing such information is to ________.
A) eliminate employee turnover
B) achieve a high degree of employee empowerment
C) gain competitive advantage
D) gain access to mass markets
E) eliminate resource dependency
________ is known as the merging of consumers, products, prices, and retailers.
A) Retail conglomeration
B) Consumer convergence
C) Price merging
D) Retail convergence
E) Retail clustering
Rachel loves fashion and is always seen wearing the trendiest fashion outfits. She
actively shares her knowledge with a wide group of friends and colleagues about where
to shop for the latest fashion at great deals. Most of her friends and colleagues follow
her fashion tips. Rachel portrays the image of a(n) ________.
A) surrogate consumer
B) lagging adopter
C) opinion leader
D) brand personality
E) social networker
Big and Tall Men's Shop carries men's clothing in larger sizes; this allows the store to
________ other stores.
A) align itself with
B) differentiate itself from
C) cluster with
D) affect the store atmosphere of
E) converge with
While using integrated marketing communications, the communications process should
start with a(n) ________.
A) advertising strategy
B) competitive-parity analysis
C) long-term public relations plan
D) audit of all potential customer touch points
E) strategy for implementing a social media presence
The workload approach takes into account all of the following EXCEPT ________.
A) customer account status
B) amount of effort required to maintain the account
C) customer account size
D) number of times each class of account is to be contacted
E) success rate at closing orders with account
Recently, a class-action lawsuit was brought against BigBurger, a fast food chain,
charging that its food has contributed to the nationwide obesity epidemic. The suit was
eventually dismissed, but many critics continue to point out the health dangers of
typical "fast food" menu items. These critics are most likely concerned that the fast food
industry has provided ________.
A) high-pressure selling
B) deceptive promotions
C) deceptive pricing
D) deceptive packaging
E) harmful products
Which of the following is a strength of advertising?
A) It is the most inexpensive promotion tool.
B) It reaches masses of geographically dispersed buyers at low cost per exposure
C) It is impersonal and lacks the direct persuasiveness of company salespeople.
D) It cannot trigger quick sales.
E) It cannot be used to build up a long-term image for a product.
Some companies successfully pursue more than one of the three value disciplines at the
same time. For example, FedEx excels at operational excellence as well as customer
intimacy. However, more companies focus on excelling at a single value discipline
while ________ the other two.
A) choosing a second one to also focus on
B) meeting industry standards on
C) ignoring
D) achieving minimal goals on
E) developing plans to improve on
The pharmaceuticals division of Omni Healthcare holds low market share in a
high-growth market. According to the BCG matrix, the pharmaceuticals division of
Omni can be classified as a ________.
A) star
B) bear
C) question mark
D) cash cow
E) dog
The marketing concept focuses on meeting the company's short-term sales, ________,
and profit needs, though that doesn't always serve the future best interests of either
customers or the business.
A) market share
B) customer value
C) growth
D) competitive advantages
E) manufacturing productivity
Explain how a firm benefits from using sense-of-mission marketing.
What are the four major communication functions?
Name two of the five indicators of market potential and provide an example of each.
Define a buying center and the major roles played by members of an organization in the
purchase decision process.
Why do companies opt for market segmentation?
Explain why typical husband-dominant or wife-dominant products of the 1970s may no
longer be regarded as typical.
How is the societal marketing concept related to marketing ethics?
What do marketers gain from gathering and analyzing information about customers and
the needs and motivations of those customers?
What is differentiation?
What are stars according to the BCG growth-share matrix?
Discuss the different levels at which competitors can be identified.
Briefly explain mass customization.
What is experimental research and when is it used?
Describe the major contact methods used to collect information from respondents in
market research.
Describe any three message execution styles.
Explain Maslow's hierarchy of needs.
Discuss the advantages and disadvantages of advertising.
How does the buying process typically begin?
Marketing managers need a deep understanding of a given competitor's mentality if
they want to anticipate how the competitor will act or react. Discuss the different ways
competitors act or react. Why do they do so? Use examples to support your thoughts.
What is the follow-up step of the selling process? Why is it important?
