Closing signs from the buyer include physical actions, statements or comments, and
questions.
Contracts are always sufficient to govern supplier transactions and prevent supplier
opportunism.
Narrative branding is based on deep metaphors that connect to people’s memories,
associations, and stories.
A Maserati sports car is considered a convenience good because interested buyers will
travel far to buy one.
Demand creators are not permitted to take an order but expected rather to build
goodwill or educate the actual or potential user.
A manager is using feed-forward sales supervision when he communicates what the
sales reps should be doing and motivates them to do it.
A product’s purchase cost plus the discounted cost of maintenance and repair less the
discounted salvage value is known as the product’s activity cost.
Definitions of a firm’s mission as well as its marketing and financial objectives are
included in the marketing strategy section of the marketing plan.
Companies must adopt and disseminate a written code of ethics, build a company
tradition of ethical behavior, and hold their people fully responsible for observing ethics
and legal guidelines if they wish to demonstrate ethical behavior.
Customer lifetime value describes the net present value of the stream of future profits
expected over the customer’s lifetime purchases.
Services represent the fastest-growing sector of the global economy and account for
two-thirds of global output.
Researchers studying print advertisements report that the picture, headline, and copy
matter in that order.
Customer churn is how rapidly a store can move customers through its checkout facility
or process.
Population growth is highest in countries and communities that can least afford it.
External marketing describes the training and motivation required by employees in
order to properly serve the customers.
When a company is said to have engaged in “greenwashing,” it means that the
________.
A) company has significantly changed its business processes to incorporate a greener,
more environmentally friendly philosophy
B) company has moved its production facilities to countries where environmental laws
and regulations are less rigorous
C) company has changed its “green” image in order to appeal to a different, usually
older, demographic
D) company’s products are not nearly as green and environmentally beneficial as its
marketing might suggest
E) company has undertaken a campaign to lobby for tougher environmental regulations
for the industry
________ means presenting the product concept to target consumers, symbolically or
physically, and getting their reactions.
A) Perceptual mapping
B) Brand-positioning mapping
C) Brand attribute mapping
D) Concept development
E) Concept testing
The key to perceived-value pricing is to ________.
A) reengineer the company’s operations
B) deliver more unique value than competitors
C) adopt subtle marketing tactics compared to competitors
D) deliver more value but at a lower cost
E) invest heavily in advertising in order to convey superior value
Online customer reviews are the second-most trusted source of brand information. What
is the most trusted source?
A) print advertising
B) recommendations from friends and family
C) salesperson recommendation
D) celebrity endorsements
E) Facebook recommendations
________ are major purchases and are usually bought directly from the producer with
the typical sale preceded by long negotiation periods.
A) Raw materials
B) Materials and parts
C) Processed materials
D) Capital goods
E) Installations
Smith & Adams Poultry has recently upgraded its transactional model such that its
customers (restaurants and hotels) can communicate with its central supply system to
indicate purchase volumes, dates, and receive confirmation, through their computer
terminals. This is an example of a company differentiating itself versus competition in
terms of ________.
A) customer relationships
B) customer training
C) installation
D) delivery ease
E) ordering ease
________ consumers drank an average of only 14 eight-ounce bottles of Coke in 2012,
compared with an average of 241 bottles in Brazil and 745 bottles in Mexico, leading
Coca-Cola to announce a $5 billion investment over 2012-2020.
A) Venezuelan
B) Indian
C) Indonesian
D) South African
E) Chinese
The first step in the business unit strategic-planning process deals with which of the
following?
A) formulate goals
B) define business mission
C) implement strategies
D) execute programs
E) conduct SWOT analysis
The associative network memory model views long-term memory as ________.
A) a subliminal perception
B) the interplay of drives
C) a strong internal stimulus impelling action
D) a temporary and limited repository of information
E) a set of nodes and links
According to PRIZM, the ________ cluster is characterized as being in their late forties
and fifties, college-educated, upper-middle-class homeowners that married late, and are
still raising children in comfortable suburban subdivisions and pursuing kid-centered
lifestyles.
A) Cosmopolitans
B) Beltway Boomers
C) Young Digerati
D) Winner’s Circle
E) Old Milltowns
In 2006, Sara Lee spun off products that accounted for a large percentage of the
company’s revenues, including its strong Hanes hosiery brand, so it could concentrate
on its well-known food brands. In this example, Sara Lee is employing a ________
defense strategy.
A) preemptive
B) counteroffensive
C) mobile
D) flank
E) contraction
A marketer that wants to anchor a point-of-difference for Dove soap on brand benefits
might emphasize which of the following?
A) The soap is one-quarter cleansing cream.
B) Dove products include bar soaps and shampoos.
C) Dove soap helps users have softer skin.
D) The soap brand has global presence.
E) The brand has recently launched soap for men.
________ software provides a set of Web-based applications that automate and
integrate project management, campaign management, budget management, asset
management, brand management, customer relationship management, and knowledge
management.
A) Marketing dashboard
B) Enterprise resource planning
C) Supply chain management
D) Marketing resource management
E) Enterprise campaign management
Companies such as Edison Nation and the Big Idea Group have sprung up to tap into
________ possibilities, often combining its own design, branding, engineering, and
sales teams with online participants, forming a community for devising new products.
A) stage-gating
B) cocreation
C) microstocking
D) buzzing
E) crowdsourcing
Toshiba, Hitachi, and other Japanese television manufacturers use ________ to service
the Eastern European market.
A) contract manufacturing
B) management contracts
C) direct investment
D) joint venture production
E) greenfield venturing
A ________ is a wholesaler-sponsored group of independent retailers engaged in bulk
buying and common merchandising.
A) retailer cooperative
B) voluntary chain
C) consumer cooperative
D) merchandising conglomerate
E) franchise organization
UltraMotion Pictures produces and distributes music and television entertainment in the
United States. The company distributes music in partnership with a large music retailer,
Fromen Tunes. Fromen executives often work for a short time with UltraMotion and
some of the UltraMotion executives work at the retail outlets to study Fromen’s
operations. This strategy minimizes the conflicts between partners. What strategy is
being used here? Briefly explain.
Ravake is a manufacturer of high-end designer apparel. Competition in the apparel
industry is severe and the market is driven by price. What distribution strategy would be
best suited to help Ravake obtain an edge over its competitors?
What techniques can a firm use to help consumers avoid sticker shock and a hostile
reaction when prices rise?
Which three groups of marketers help satisfy a customer’s needs?
Briefly describe the characteristics of the Millennials.