_____________ is an example of a non-technology communication selling activity.
A.Enhance language and overall communication skills
B.Email
C.Create useful company Web page content
D.Database management
E.Leaving voicemail messages
The selling activities that relate to communication and are non-technology involve the
salesperson enhancing language and overall communication skills and developing
effective presentation skills.
One rationale for establishing a price-skimming objective is that _______________
lends status to a product or brand by virtue of a price relatively higher than the
competition.
A.Product line pricing
B.Captive pricing
C.Price bundling
D.Reference pricing
E.Prestige pricing
Prestige pricing plays on psychological principles that attach quality attributions to
higher-priced goods and thus lends prestige to a product by virtue of a price relatively
higher than the competition.
Mia often has desires that reflect how she would like to feel or live in the present time.
This is known as a(n) _________.
A.Fantasy world
B.Ideal state
C.Preferred state
D.Preferred world
E.Ideal world
People live in the perceived reality of present time or real state. At the same time,
people also have desires that reflect how they would like to feel or live in the present
time and this is known as a preferred state.
The U.S. dollar has strengthened against the Euro and the Yen. A discussion of this
would be included in the ______ section of the SWOT.
A.Strengths
B.Threats
C.Opportunities
D.Strategic
E.Weaknesses
The company has no control over the strength of the dollar so this is an external
opportunity.
M. Jones, the marketing manager for Big Brand Furniture, is conducting an analysis of
internal sales data. This data is collected and stored electronically on site by each store.
He is able to access this data on his computer at the corporate headquarters. He is
gathering this information via a(n) ___________.
A.CRM System
B.Information Broker
C.Marketing research organization
D.Online database
E.Sales force automation system
An online database is data stored on a server that is accessed remotely over the Internet
or some other telecommunications network. In this case, data is collected and stored
electronically on site by each store and the manager is accessing it remotely using the
Internet.
When a firm’s objective is to gain as much market share as possible, a likely pricing
strategy is ________________, sometimes also referred to as pricing for maximum
marketing share.
A.Penetration pricing
B.Price skimming
C.Target ROI
D.Competitor based pricing
E.Value pricing
Penetration pricing is used for maximizing market share.
An entrepreneur wants to expand her business and is faced with rising interest rates and
tightening of credit. The best place in a SWOT analysis to identify this economic trend
is ___________________.
A.External opportunities
B.External threats
C.Internal opportunities
D.Internal strengths
E.Internal weaknesses
Rising interest rates and tightening of credit would threaten the entrepreneur’s ability to
borrow for expansion. So analysis of these economic conditions would be included in
the external threats section of a SWOT analysis.
Demographic segmentation is one of the most popular segmentation approaches
because _________.
A.It is readily measurable
B.Customer needs and wants tend to vary with some degree of regularity based on
demographic differences
C.It uses the statistical characteristics of human populations such as age or income
D.All of the above
E.None of the above
Demographic segmentation divides consumer groups based on a variety of readily
measurable descriptive factors about the group. It is one of the most popular
segmentation approaches because customer needs and wants tend to vary with some
degree of regularity based on demographic differences and because of the relative ease
of measurement of the variables.
ABC Inc. received an email from a company in Jamaica asking to buy some of its
products. ABC has shipped outside of the U.S. only three times in the past. ABC is
engaged in ____________.
A.Foreign marketing
B.International marketing
C.Global marketing
D.Indirect foreign marketing
E.Global partnerships
Companies that engage in indirect foreign marketing do business with international
customers through intermediaries or limited direct contact.
Garrett is moving into retirement and wants to cut his client base to half so he can work
part time. In deciding which customers to keep, Garrett should look at the monetary
prediction called _______________.
A.Customer longevity spending
B.Total customer spending
C.Total customer gross margin
D.Customer lifetime value
E.Total transaction spending
Customer lifetime value is the dollar value of a customer relationship based on the
present value of the projected future cash flows from the customer relationship.
__________________ is NOT part of the AIDA model.
A.Attention
B.Interest
C.Desire
D.Action
E.Deficit
The AIDA model is so-named because the effects build in this order: Attention (or
Awareness), Interest, Desire, and Action.
Mike and Mary see an ad for a new Sony LCD flat-panel television. Mike only watches
the news but Mary wants a new TV set to view sports. Their perceptions of the ad may
be ______.
A.Similar
B.The same
C.Very different
D.Slightly similar
E.A little different
Individuals are exposed to a lot of information and people can not process or even
retain all the information so they employ a psychological tool known as selective
awareness to help them focus on what is relevant and eliminate what is not. Selective
awareness will cause Mary to be more alert and receptive since she wants a new TV set
to view sports.
Sylvia runs a successful sunglasses manufacturing company. Last year she started to
purchase the companies that she bought her raw materials from, and this year she is
looking to purchase both a transportation and warehousing company so that she can
control her product from start to finish. What is Sylvia demonstrating?
Thomas has just developed a line of grills for use in tailgating. He expects the wealthy
alumni to be attracted to his grills because they are of higher quality than other portable
grills on the market, and they have an ingenious design. Thomas wants to gain a good
portion of the market share, so he decides to use a penetration pricing strategy. What
negative effect could Thomas create using the penetration pricing strategy with his
product?
How can Spuds and Suds, a Dallas, Texas sports bar, determine if there is a market
segment of sufficient size to justify its purchase of the National Hockey League Center
Ice package?
Diagram the personal selling process.
Define customer satisfaction.
Lily has realized that the popularity of e-commerce has led to disintermediation. Lily is
the coordinator of an e-commerce tradeshow and she has contacted you to speak about
disintermediation at the next tradeshow. Lily would like you to focus on the fall of the
dot-com companies and was hoping you could give her a quick run down. How would
you explain this to Lily?
Describe how GE has used market-driven strategic planning in regards to corporate and
SBU planning.