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Which of the following is true about business-to-business e-procurement?
A) E-procurement increases transaction costs for suppliers.
B) Because of an overwhelming demand, e-procurements usually have a huge time gap
between order and response.
C) Many buyers now use the power of the Internet to pit suppliers against one another
and search out better deals, products, and turnaround times on a purchase-by-purchase
basis.
D) E-procurement enhances customer-supplier relationships.
E) Due to extensive paperwork, the relatively important strategic issues, such as finding
better supply sources and working with suppliers to reduce costs and develop new
products, are sidelined.
Which of the following is an advantage of using a sales force automation system?
A) lowers sales team training costs
B) records major competitor's sales
C) eliminates the need for an inside sales force
D) eliminates employee attrition
E) improves customer service
Refer to the scenario below to answer the following question.
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a
popular family attraction with 20 rides, a restaurant, and an outdoor performing arts
theater.
"My wife, Gail, and I didn't know what we were getting into," commented Ron Hart,
the owner. "We just knew that weekenders coming to the lakes in our rural area
represented an untapped market."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even
senior citizens who enjoy strolling through the gardens and the arbors. "There's
something here for everyone," Gail Hart said with a smile. "Dozens of companies hold
annual company picnics here. We have welcomed class field trips. And we even had
one wedding here at the park!"
"Here's the funny thing," Ron chimed in. "We really don't know why we've been so
successful. There is nothing else like Fun-Spot Fun Park in the area. We were just
lucky." "I think it's the ambience of the park that has brought so many visitors," Gail
added. "We provide a 'total package' of entertainment. Plus, we try to change our rides
and various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has
always been our philosophy," they said. "Like the park's motto at the entrance reads,
'We're here to make you happy!' And we've always been able to deliver on that because
we've never allowed ourselves to grow too big too quickly."
Ron and Gail plan to lower Fun-Spot's prices in an effort to encourage customers to stay
longer, visit more often, and spend more money during each visit. What type of strategy
are Ron and Gail planning?
A) market penetration
B) market development
C) product development
D) product adaptation
E) diversification
Shifting away from mass marketing, marketers are developing ________ which are
designed to build closer relationships with customers in more narrowly defined
micromarkets.
A) focused marketing programs
B) horizontal diversification programs
C) backward integration strategies
D) new pull strategies
E) new push strategies
________ involves cultivating opinion leaders and getting them to spread information
about a product or a service to others in their communities.
A) Sales promotion
B) Indirect marketing
C) Buzz marketing
D) Stealth marketing
E) Public relations
In the communication process, the more the sender's field of experience ________ that
of the receiver, the more ________ the message is likely to be.
A) varies from; distinguishable
B) overlaps with; effective
C) connects with; ineffective
D) coincides with; creative
E) departs from; direct
Apple used an album by the band U2 to promote the Apple Watch announcement.
Which of the following message execution styles is illustrated in this example?
A) personality symbol
B) musical
C) fantasy
D) lifestyle
E) slice of life
What is the LEAST relevant question to ask when assessing a firm's main competitor?
A) What are the competitor's objectives?
B) What is the competitor's strategy?
C) What are the competitor's strengths?
D) What are the competitor's locations?
E) What are the competitor's weaknesses?
Which of the following actions should a marketer take in response to the new
economy?
A) Offer selected discounts.
B) Cut marketing budgets.
C) Hold the line on prices.
D) Cut costs.
E) Discontinue products.
Which of the following consumer buying behaviors is related to conditions of
low-consumer involvement and little significant brand difference?
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer capitalism
Most competitors in the music download industry see Apple's iTunes Music Store as a
________ because it created a closed system with mass appeal.
A) good competitor
B) marginal competitor
C) weak competitor
D) bad competitor
E) distant competitor
Champion, Inc. is a manufacturer of lunch boxes, school bags, and school stationery.
Charles Payton, the CEO of Champion, hopes to sell the products at a low price to
penetrate the market quickly.
Which of the following best supports a market-penetration strategy for Champion?
A) Production costs increase as sales volume increases.
B) It is very difficult for competitors to enter the market.
C) The cost of producing a smaller volume is negligible.
D) The quality of the products supports high initial prices.
E) The market for the products is highly price sensitive.
________ requires finding the major advantages people look for in a product class, the
kinds of people who look for each positive aspect of a product, and the major brands
that deliver it.
A) Gender segmentation
B) Psychographic segmentation
C) Benefit segmentation
D) Geographic segmentation
E) Age and life-cycle segmentation
Which of the following is true of channel members?
A) They act independent of each other.
B) They play specialized roles in the channel.
C) They are not accountable to other channel members.
D) They play generalized and interchangeable roles in the distribution process.
E) Their competence and cooperation don't affect the company's image or profits.
Marketers respond to charges of high advertising and promotion costs that
unnecessarily increase retail prices, by arguing that advertising and promotion
________.
A) support consumerism
B) standardize the product
C) add quality to the product
D) provide information about a product
E) help increase competition in the market
________ segmentation divides the market into segments based on variables such as
age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and
generation.
A) Geographic
B) Benefit
C) Occasion
D) Psychographic
E) Demographic
Which of the following exemplifies a service?
A) candy
B) laptop
C) retail
D) car
E) laundry detergent
P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area.
When General Mills became aware of the product, it rushed to market its own Betty
Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product
introduction. General Foods was able to enter the ________ stage of the new product
development process before P&G could.
A) commercialization
B) co-marketing
C) idea generation
D) idea screening
E) simulation
Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's
strengths, opportunities, weaknesses, and threats. Which of the following would be best
suited for his purpose?
A) SWOT analysis
B) cluster analysis
C) portfolio analysis
D) regression analysis
E) Porter's five forces analysis
How can a firm benefit from involvement in a contractual VMS?
Describe a strategic group. Name a few companies that belong to the same strategic
group, and discuss why they are in the same group.
Explain the concept of integrated marketing communications (IMC).
What attracts shoppers to a power center?
Describe the types of products are intensively distributed and provide examples.
Explain how companies select, motivate, and evaluate intermediaries or channel
members.
Name and describe the principal decisions companies make regarding their individual
products and services.
Explain how selective retention affects what consumers remember about marketing
messages.
