Industry boundaries are blurring at an incredible rate as companies are recognizing that
new opportunities lie at the intersection of two or more industries.
An alternate way to increase sales volume is to increase the usage rates among users by
entering new market segments.
The ultimate outcome of relationship marketing is a unique company asset called a
marketing network, consisting of the company and its supporting stakeholders ‘”
customers, employees, suppliers, distributors, retailers, and others.
A service is essentially intangible.
US firms spend more on sales forces and sales force materials than on any other
promotional method.
Members within a social class tend to behave more alike compared to members from
two different social classes.
An alternative to being a follower in a large market is to be a leader in a small market.
In general, personal selling is used more with complex, expensive, and risky goods and
in markets with fewer and larger sellers.
The product-management organization replaces the functional organization in the firm.
If Xerox Corporation defined its scope of business as “making copying equipment,” it
can be classified as a marketing definition.
The demand for business goods is ultimately derived from the demand for raw
materials.
Consumers are more engaged and attentive with their smart phones than when they are
online.
A business analysis is typically performed after management has developed the product
concept and marketing strategy.
The common denominators of luxury brands are quality and ________.
A) uniqueness
B) practicality
C) global appeal
D) contemporary
E) goodwill
Which of the following is an example of channel differentiation?
A) Berry’s has an intensive training program for its customer-facing employees, to
ensure a consistent service standard.
B) The Swan Hotels use a distinctive signature fragrance in all outlets so that customers
can associate the fragrance with the hotel.
C) JEK’s sophisticated customer database allows the company to handle queries and
product returns much faster than competitors.
D) RTZ shifted its products from supermarket aisles to exclusive stores as it realized
that customers were willing to pay more in stores.
E) Hayley’s found success by allowing buyers to customize the color and some features
of its appliances before buying them.
After collecting the relevant information, the next step in the marketing research
process is to ________.
A) develop the research plan
B) define the problem and research objectives
C) present the project report
D) make the final decision
E) analyze the acquired data
If you were the CEO of a company that was looking to implement strategies to fill a
perceived strategic-planning gap, you would most likely explore ________ strategy first
because it is easier to improve an existing business than to build a new one.
A) market-penetration
B) market-development
C) diversification
D) product-development
E) exclusive
Christian Louboutin is a footwear designer who launched his line of high-end women’s
shoes in France in 1991. Since 1992, his designs have incorporated the shiny,
red-lacquered soles that have become his signature. These red-lacquered soles and high
stilettos of Louboutin distinguish him from other designer shoe brands. In accordance
with the BrandAsset® Valuator model, which of the following components of brand
equity has Louboutin fulfilled in this scenario?
A) energized differentiation
B) relevance
C) esteem
D) knowledge
E) advantage
The reservation price, the maximum that most consumers will pay for a given product,
is known as the ________ price.
A) expected future
B) usual discounted
C) upper-bound
D) typical
E) historical competitor
Discount stores that try to keep prices as low as possible are more likely to function
using ________ operations.
A) limited service
B) self-selection
C) full-service
D) self-service
E) limited-selection
Robert has heard about the latest cell phone from LG Electronics that features Wi-Fi
hotspot technology. Wi-Fi hotspot is a technology that allows users to share mobile
internet with other Wi-Fi enabled devices. Robert visits the company’s Web site to read
more about the phone. Robert is in the ________ stage of consumer-adoption process.
A) interest
B) awareness
C) evaluation
D) trial
E) adoption
General Motors, a leading American multinational automaker, sells cars for every
purpose, budget, and personality. This is an example of ________ marketing.
A) undifferentiated
B) differentiated
C) concentrated
D) niche
E) micro
Which of the following are tangible goods that normally survive many uses?
A) generic goods
B) durable goods
C) core benefits
D) convenience goods
E) unsought goods
In ________, the seller offers goods both individually and in bundles and often charges
less for the “bundle” than for the individual products.
A) pirating pricing
B) captive pricing
C) two-part pricing
D) pure bundling
E) mixed bundling
Tums claims to have the most acid-reducing components of any antacid. In what way is
the brand’s category membership being conveyed?
A) comparing to exemplars
B) relying on the product descriptor
C) announcing category benefits
D) focusing on reliability
E) persuasion based on believability
Which of the following entities is present in a zero-level marketing channel?
A) consumers
B) retailers
C) brokers
D) jobbers
E) wholesalers
________ are visual representations of consumer perceptions and preferences.
A) Brand narratives
B) Share of mind variables
C) Perceptual maps
D) Exemplars
E) Points-of-parity
Compensation plans may need to vary depending on the type of salespersons. Which
type of salesperson benefits from no ceiling or caps on commissions, overachievement
commissions for exceeding quotas, and prize structures that allow multiple winners?
A) stars
B) core performers
C) dogs
D) cash cows
E) laggards
Aromas Inc. introduced a new line of shower gels. To analyze consumer reaction, the
company interviewed people who bought them. When Sarah was asked why she had
chosen the new shower gel, she said she bought it because a friend recommended it.
Sarah is at which level of the BrandDynamics Pyramid?
A) presence
B) bonding
C) relevance
D) performance
E) advantage
All marketing strategy is built on STP: segmentation, targeting, and ________.
A) positioning
B) product
C) planning
D) promotion
E) performance
A firm uses its sales force to sell to large accounts and outbound telemarketing to sell to
medium-sized accounts. The firm is using ________ marketing.
A) hybrid
B) pull
C) personalized
D) vertical
E) internal
There are three types of product-team structures. These are ________.
A) vertical, triangular, and horizontal product teams
B) vertical, horizontal, and circular product teams
C) horizontal, vertical, and rectangular product teams
D) horizontal, vertical, and flattened product teams
E) vertical, rectangular, and circular product teams
For an MBO system (manage by objectives) to work, the business unit attempting to
implement the process must meet four criteria. What are those criteria?
Identify and describe the rungs on the customer loyalty ladder in ascending order.
Describe the adjustments that an advertiser of high-end laptops has to make to the
cost-per-thousand measure.
What should a company do if its competitor’s product contains features that are not
available in its own product?
Describe the steps in the order-to-payment cycle.
Explain the differences between culture, subculture, and social class.
When Yahoo! began to flounder in 2001, CEO Terry Semel imposed a more
conservative atmosphere on the freewheeling Internet start-up. At the new Yahoo!,
spontaneity is out and order is in. Identify this organizational phenomenon.