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Leona is the logistics manager for the Barnes & Noble bookstore chain. She is weighing
the many benefits of the company's JIT system but will need to consider that
just-in-time inventory management systems increase _______ costs.
A. sales force labor
B. transportation
C. promotional
D. advertising
E. new product development
Answer:
One of the benefits of a differentiated targeting strategy is that it allows the firm to
diversify its business and
A. decrease advertising spending.
B. focus on a single market segment.
C. lower overall risk.
D. use undifferentiated strategies in micro markets.
E. more widely market basic commodities.
Answer:
Alan wants to upgrade his look before a job interview. A friend tells him about a men's
clothing line that allows potential customers to virtually try on suits and see what looks
best. It even offers an interactive "custom fit" feature. After checking out his options,
Alan takes his measurements and orders a suit without ever leaving his office. Virtually
trying on a suit best describes which of the 4E framework objectives?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
Once a firm has done an analysis of the most viable markets for its products, then it
must next
A. determine the competition and develop strategies to overcome it.
B. conduct an internal assessment of its capabilities.
C. conduct an external analysis of the target market's economy, culture, and regulatory
barriers.
D. develop a product to meet the needs of those markets.
E. achieve success with the product in its home market.
Answer:
Which aspect of the 4E framework is aimed at action, the potential for a relationship,
and possibly even loyalty and commitment?
A. educate
B. energize
C. excite
D. experience
E. engage
Answer:
The goal of customer relationship management is to
A. manage every customer relationship differently.
B. manage every customer relationship to maximize short-term profitability.
C. eliminate customers who are profitable, but not highly profitable.
D. identify and build loyalty among a firm's most valued customers.
E. generate relationships with competitors' customers.
Answer:
When marketers say that services are __________, they are referring to the fact that
services cannot be touched, tasted, or seen, like a pure product can.
A. intangible
B. inseparable
C. heterogeneous
D. perishable
E. replenishable
Answer:
Hisaoki picks up the local newspaper and reads a stinging letter to the editor criticizing
his beverage company for supporting a sporting event for children with disabilities. The
letter writer is critical of a banner displayed at the event, with the logos of alcoholic
beverages and Hisaoki's company name. Hisaoki never considered that this problem
might arise. In the framework for ethical decision making, Hisaoki's company failed to
A. identify issues.
B. promote the firm's corporate social responsibility efforts.
C. analyze the needs of the industry.
D. brainstorm and evaluate alternatives.
E. choose a course of action.
Answer:
In the movie Field of Dreams, one of the memorable phrases is, "If you build it, he will
come." The AIDA model would suggest that after marketers "build" a product or service
and create awareness among consumers, they need to
A. determine the level of desire needed to sustain action.
B. promote sufficiently to gain global attention.
C. create interest among consumers, persuading them to investigate further.
D. offer discounts to increase purchase intentions.
E. take steps to encourage immediate purchase.
Answer:
Marketers spend billions of dollars annually attempting to build effective brands. One
basic benefit of a brand is that it
A. creates a basis for effective packaging.
B. provides a way for a firm to differentiate its product offerings from competitors.
C. offers consumers promotional parity.
D. allows manufacturers to capitalize on promotional expenditures.
E. reduces the need for product line depth.
Answer:
After major hurricanes like Katrina, many ethical home repair and building supply
businesses continue to charge pre-hurricane prices to their customers, even though due
to the huge increase in demand they could charge much more. These firms probably
recognize that
A. they can make more money from government contracts than from sales to customers.
B. a transactional orientation is the key to long-term profitability.
C. none of their competitors would be raising prices.
D. lifetime profitability of relationships matters more than profits from a particular
transaction.
E. if they raised prices they would be in violation of Commerce Department
regulations.
Answer:
A(n) ___________ is a group of products that consumers may use together or perceive
as similar in some way.
A. business matrix
B. STP
C. product line
D. market segment
E. promotional service
Answer:
Which of the following is the third step in the marketing planning process?
A. define the business mission
B. identify and evaluate opportunities
C. evaluate using a matrix
D. implement marketing mix and allocate resources
E. perform situation analysis
Answer:
A __________ is a type of reseller, a business that buys from other businesses but does
not significantly alter the form of the products it buys.
A. manufacturer
B. producer
C. consumer
D. wholesaler
E. factory
Answer:
Naomi is the IMC manager for a chain of regional income tax service providers.
Franchisees pay a percentage of their revenue to an IMC account allocated to her. As
she establishes the short-term goals for her firm's IMC efforts, her goals are likely to
include
A. expanding customer loyalty by closing the feedback loop.
B. increasing market share, sales, and customer loyalty.
C. increasing inquiries, awareness, and trial of her firm's services.
D. shifting customers to rule-of-thumb budgeting.
E. increasing the lagged effect.
Answer:
"Corporate pilot fish" are former employees who start a new business based primarily
on contacts and contracts with their old company. A corporate pilot fish would probably
pursue a(n) __________ targeting strategy.
A. macromarketing
B. micromarketing
C. benefit-based
D. differentiated
E. undifferentiated
Answer:
One Laptop Per Child is a nonprofit initiative with the goal of making extremely
low-cost laptops available to children in the developing world, with the goal of helping
them learn skills needed in today's workforce. If some of the low-cost technology
developed for this laptop found its way into laptops created for U.S. consumers, this
would be an example of
A. glocalization.
B. reverse innovation.
C. franchising.
D. a strategic alliance.
E. purchasing power parity.
Answer:
How a product or service will be conceived or designed, how much it should cost,
where and how it will be promoted, and how it will get to the consumer are all elements
of
A. a marketing plan.
B. a marketing exchange.
C. supply chain logistics.
D. production management.
E. delivery of the value proposition.
Answer:
By adding new product lines beyond its core business of computer software, like the
Surface Pro tablet and Xbox 360 game system, Microsoft primarily benefits by
A. keeping up in a market where sales come mostly from new products.
B. satisfying the changing needs of the technological research staff.
C. avoiding market saturation from products that have just been introduced to the
market.
D. creating diversification and reducing risk.
E. spreading out production costs.
Answer:
Because customers have different needs and expectations, the key to distributive
fairness in service recovery is to
A. listen to the customer.
B. contact a supervisor quickly.
C. estimate the damage.
D. provide a fair solution.
E. resolve the problem quickly.
Answer:
A ____________ advertising schedule uses heavy advertising during some periods
followed by periods of no advertising.
A. continuous
B. flighting
C. pulsing
D. penetrating
E. purposeful
Answer:
In which of the following categories would a dry cleaning business be placed?
A. service retailer
B. specialty store
C. category killer
D. superstore
E. discount store
Answer:
The three components of an attitude are
A. cognitive, affective, and behavioral.
B. connected, applicable, and bearable.
C. confident, achievable, and believable.
D. consistent, affordable, and particular.
E. controlled, uncontrolled, and visible.
Answer:
As it pertains to the diffusion of innovation, if the __________ group is relatively small,
the number of people who ultimately adopt the innovation likely will also be small.
A. innovator
B. laggard
C. late majority
D. early majority
E. early adopter
Answer:
In a SWOT analysis, increasing gasoline prices would represent a potential __________
for manufacturers of electric cars.
A. weakness
B. threat
C. opportunity
D. operational advantage
E. locational advantage
Answer:
Delta Airlines is among the companies experimenting with selling products and services
on their Facebook pages. The idea is to make purchasing even easier for customers who
may spend large portions of the day with Facebook active on their computers or mobile
devices. There is no need even to navigate to Delta's websiteusers can book a trip in
Delta's "Ticket Agent" application without ever leaving Facebook. Which element of
the marketing mix does this represent?
A. product and value creation
B. price and value capture
C. place and value delivery
D. promotion and value communication
E. positioning and value promotion
Answer:
Which of the following statements regarding global segmentation, targeting, and
positioning is true?
A. Companies must continually adjust products and marketing strategies to meet the
changing needs of global markets.
B. Global segmentation, targeting, and positioning activities are far less complicated
than the same activities in the domestic market.
C. When developing a global STP strategy, it is best to define segments by geography
alone.
D. Segmentation, targeting, and positioning activities for global markets do not differ
substantially from that of domestic markets.
E. The "golden rule" for global STP activities for firms is to never alter a firm's
marketing mix to serve the needs of global markets.
Answer:
Which of the following is not a communication channel used in the IMC process?
A. radio
B. television
C. newspaper
D. Internet
E. supply chain
Answer:
Company sales invoices, census data, and trade association statistics are examples of
A. primary data.
B. data mines.
C. secondary data.
D. tertiary data.
E. qualitative data.
Answer:
Sales of electric components manufactured by Rick's company depend on sales of new
cars. Rick's company faces __________ demand.
A. synthetic
B. situational
C. monopolistic
D. contrived
E. derived
Answer:
Zan wants to collect considerable information about the current opinions of his 10 most
important customers. Zan will probably use the __________ research method.
A. social media monitoring
B. experimental
C. in-depth interview
D. primary data mining
E. observation
Answer:
Empowerment is when __________ are authorized to make decisions to help their
customers and, as a result, service quality generally improves.
A. consultants
B. middle managers
C. corporate executives
D. production control managers
E. frontline employees
Answer:
What evaluative criteria would consumers be likely to use in choosing a family
physician?
Answer:
In some parts of the United States a long sandwich is called a sub sandwich. In other
parts of the country it is called a grinder. This is an example of what type of
macroenvironmental factor?
Answer:
Why is it important for marketers to understand the product life cycle?
Answer:
What are PSAs? Why do television and radio stations run them?
Answer:
What is the difference between exclusive distribution and selective distribution?
Answer:
What are the main challenges in managing a supply chain?
Answer:
Burt's Bees mission is an "Earth Friendly, Natural Personal Care Company." As part of
that mission, Burt's Bees has a "Zero Waste to Landfill" initiative. During which phase
of the strategic marketing planning process would this initiative be pursued?
Answer:
Identify how a company might evaluate whether or not to support the United Way, a
program that collects donations and distributes them to a wide range of charities.
Answer:
How do tariffs affect markets?
Answer:
If your manager asked you to review invoice data for the last six months to look for any
trends or changes, what kind of marketing research activity would you be engaged in?
List and fully define the process.
Answer:
Believe it or not, Walmart's first designer label clothing brand is called George. Few
Americans know the George brand, but in Britain it is well regarded and sold in
stand-alone George stores. What would be the benefits to Walmart if the George brand
of clothing became recognized and desired in the United States?
Answer:
On weekends, Everett often finds himself thinking about his customers and their
problems. Sometimes Everett will figure out a potential solution and e-mail or call his
customer. What personal trait does Everett have that is important to sales success?
Answer:
"Everything has a price, though it doesn't always have to be monetary." What else is
included in a price?
Answer:
What are some of the ethical issues associated with testing cosmetics on animals?
Answer:
Why is it important for marketers to identify who plays which role in a buying center?
Answer:
Why are nonfinancial rewards important?
Answer:
How is the balance of ethnicities in the U.S. population changing, and what
implications does this have for marketers?
Answer:
In what type of research situations would marketing researchers use in-depth
interviews?
Answer:
Define the term postpurchase cognitive dissonance and give an example of when this
happened to you. Then explain what the company could have done to lessen your
dissonance.
Answer:
What kinds of internal information might be of value to a marketing researcher?
Answer:
