Business goods can be characterized on two dimensions: (1) whether or not they are
used in the manufacturing process and (2) the time needed to decide whether to
purchase them or not.
The key benefit of stand-alone brands is that they separate the company from the brand,
which insulates the company if there is a problem with the brand.
Unresolved channel conflict will never result in an uncooperative and inefficient
channel, but it may impact end-user consumers through inferior products, spotty
inventory, and higher prices.
Channel intermediaries enhance utilities by providing a wide array of specific
functions.
Effective transportation management is one way that many firms can keep a lid on costs
while also optimizing delivery options for customers.
Banner ads are small boxes containing graphics and text and have a hyperlink
embedded in them.
Most airlines will not let a customer change a super-low-fare ticket because once the
plane backs away from the gate, the value of the empty seat is zero.
Primary data is the data collected for some other purpose than the problem currently
being considered.
The number of product categories offered by a retailer is referred to as the depth of
merchandise.
Facts are important, but customers, whether they are consumers or businesses, do not
buy features.
Large and small companies face the same issues when it comes to developing new
products.
Many organizations are beginning to consider their customers-both end-users and
within a channel-as less important members of a value network.
Target marketing is the process of evaluating market segments and deciding which
among them shows the most promise for development.
The Internet created a rise in ___________________ as more and more people decided
to meet online in order to sell products to the highest bidder.
A.Price elasticity of demand
B.Stability pricing
C.Pricing tactics
D.Auction pricing
E.Reverse auction
The Internet has created a rise in auction pricing by providing a vast electronic playing
field for customers to participate in auctions on a real-time basis.
As the marketing manager for ABC Company, you are charged with developing
marketing strategies for an area that is composed of a diverse population from a variety
of countries. In order to reach this diverse populace you might want to consider efforts
that focus on specific ________ when generating strategies.
A.Income levels
B.Educational background
C.Age-groups
D.Gender
E.Ethnic groups
Many countries are becoming more ethnically diverse as individuals increase their
mobility; the market challenge then becomes developing effective marketing strategies
across different ethnicities living in the same area.
For most products, as long as the customer perceives the ratio of price and benefit to be
at least at equilibrium, perceptions of __________ will likely be favorable.
A.Market share
B.Quality
C.Value
D.A & B
E.A & C
Perceptions of value will likely be favorable as long as the customer perceives the ratio
of price and benefit to be at least at equilibrium. Thus, a poor-quality product at a
super-low price can be perceived as a good value just as a higher-quality product at a
high price can be.
On average, we are exposed to as many as ______ messages daily. Since we cannot
process, let alone retain all of these messages, we employ a psychological tool known
as selective awareness.
A.5-10
B.100-200
C.2000-5,000
D.500-1000
E.8,000 -10000
On average, we are exposed to between 2,000 and 5,000 messages a day.
The Children’s Online Privacy Protection Act (COPPA) requires marketers to get
parental consent to collect personal information on anyone younger than ________.
A.18
B.16
C.13
D.10
E.21
Children’s Online Privacy Protection Act (COPPA) requires marketers to get parental
consent to collect personal information on anyone younger than 13.
When customers quickly and easily become bored with any given advertising
campaign, it is considered _________.
A.Positioning
B.Advertising response function
C.Guarantee of desire
D.Advertising wearout
E.Maximum reach
Customers can quickly and easily become bored with any given advertising campaign, a
concept referred to as advertising wearout.
Feelings of accomplishment, personal growth, and self-worth are examples of
_____________________rewards.
A.Intrinsic
B.Bonus
C.Contest
D.Extrinsic
E.Subjective
A company bestows a variety of rewards on any given level of performance. Intrinsic
rewards are those salespeople primarily attain for themselves and include feelings of
accomplishment, personal growth, and self-worth.
Josh notices that the low-fuel light is on as he is driving home. Without any additional
information he stops at the local station on the way home to fill up. This is an example
of _______.
A.Low involvement
B.Limited information search
C.Extensive information search
D.Minimal information search
E.External information search
A minimal information search is the kind of search where buying is done without any
extensive information search. In this example, Josh stops at a local station to fill up
without finding out any additional information.
___________ measures the percentage of individuals in a defined target market that are
exposed to an ad during a specified time period.
A.Frequency
B.Target
C.Pioneering
D.Reach
E.Din
Reach measures the percentage of individuals in a defined target market that are
exposed to an ad during a specified time period.
________________ is a software application designed to integrate information related
to logistics processes throughout the organization.
A.Outbound logistics systems
B.Marketing information system
C.AIMS
D.Value Chain Supply System (VCSS)
E.Enterprise Resource Planning Systems (ERP Systems)
A system that links the parts of the supply chain together in order to get logistics
smoothly done throughout the organization is called an ERP system.
Which of the following advertising media offers advantages of interactive capabilities,
flexibility, timeliness, and low cost per exposure?
A.Internet
B.Television
C.Radio
D.Outdoor
E.Newspapers
The internet is an advertising media that offers advantages of interactive capabilities,
flexibility, timeliness, and low cost per exposure.
When customers see the logo of McDougal’s restaurant, they think of decent food
served quickly in a clean, family friendly environment. This is an example of the
_______ role the brand plays for customers.
A.Reassurance
B.Education
C.Information conveyance
D.Invigoration
E.Benchmarking
The brand conveys information about the product; without any additional data,
customers construct expectations about quality, service, even features based on the
brand.
_______________ is the fourth phase in the process cycle for CRM.
A.Analysis and refinement
B.Supplier interface
C.Marketing planning
D.Knowledge discovery
E.Customer interaction
Analysis and refinement is the last element in CRM process cycle. In this phase of
CRM, organizational learning occurs based on customer response to the implemented
strategies and programs.
Customers view new products much differently than companies. Customers only care if
the product is ______.
A.New to their retail store
B.New to them
C.Offered through a new outlet
D.Offered on-line
E.None of the above
While the company follows a specific strategy in creating a new product, the customer
is unaware and, in reality, often does not really care about how the product arrived in
the marketplace. The customer’s perspective is much more narrow and self-directed.
The customer is most interested in an answer to the fundamental question-is this
product new to me?
Some companies today continue to think of consumers in the role of faceless reactors to
the firm’s marketing strategies. These companies tend to use _________ marketing.
A.Targeted marketing
B.One-to-one marketing
C.Customer centric marketing
D.Mass marketing
E.Service marketing
In mass marketing, consumers are thought of as faceless reactors to the firm’s marketing
strategies. Mass marketing does not attempt to understand unique needs of individual
customers.
Carol’s boss wants her to identify noninteractive customer touchpoints in the
organization. She has decided that all EXCEPT _______________ are noninteractive.
A.Call centers
B.The company’s static website
C.Direct mail
D.Television ads
E.Coupons and rebates
In interactive touchpoints, there is a direct interface between the customer and a
company representative. Considering the above options, only call centers provide direct
interface.
Companies that focus on lifetime value most likely practice _______.
A.Mass marketing
B.Target marketing
C.One-to-one marketing
D.Customer marketing
E.Consumer marketing
In customer marketing, the focus is on developing relationships with individuals. Hence
the companies tend to focus on the lifetime value of the customer.
Demographic segmentation uses _______.
A.Characteristics of human populations to segment the market
B.Characteristics of geography to segment the market
C.Characteristics of personality to segment the market
D.Characteristics of virtual communities to segment the market
E.All of the above
Demographic segmentation divides consumer groups based on a variety of readily
measurable descriptive factors such as age, generational group, gender, family, race and
ethnicity, income, occupation, education, and social class.
When responding to an RFP, the B2B marketer may __________.
A.Use CRM or custom software to make all proposals look uniform
B.Assign it to only one person in the organization
C.Give the same proposal to all prospective clients
D.Let only the sales team read the proposal
E.None of the above
Sales proposals, particularly those submitted in response to an RFP, are written so they
can be studied and sent to various individuals inside the company. Using a CRM or
custom software helps unify the content and look of a sales proposal so that various
individuals in the organization can easily understand the proposal.
Holly has just graduated and would like to open a retail store. She is currently trying to
determine whether or not she should open an actual retail store or do something with
non-store retailing. Explain to Holly the advantages of non-store retailing.
Tyrone owns Orchid Odyssey a plant nursery that specializes in orchids. Tyrone has had
significant success with his Orchid of the Month mail order program, and as a result
needs larger nursery space. What part of the business market purchase decision process
has Tyrone just illustrated? What will he need to do next?
Discuss the non-technology selling activities.
Discuss three of the seven key success factors in personal selling.
What is a business case analysis?
Identify the purpose of each basic type of research and give reasons for conducting
each. Give an example of when a firm might want to use each type.
What is the difference between short-term memory and long-term memory? Which type
of memory are marketing managers concerned about? Why? Give an example.
When making a product selection as part of the business market purchase decision
process, what three primary criteria are used to make a decision?