Successful marketing strategy builds quality into only the product in order to validate a
price premium.
Exponential smoothing is a type of moving average that, instead of weighting all
observations equally in generating the forecast, weights the most recent observations
heaviest.
The GE Business Screen model assesses the firm’s ability to compete. Business position
looks at factors like government regulations, sensitivity to economic trends, and size of
the market.
One of the most critical aspects to the selling process is not what happens before the
purchase decision but what happens after, the follow-up.
B2B companies often have a few companies that represent a large portion of their sales.
This means that losing one larger customer has striking implications for the company.
The strongest form of brand equity that reflects a commitment to repeat purchases is
brand loyalty.
In 1975, the federal Consumer Goods Pricing Act repealed all state fair trade laws and
minimum markup laws.
________________ involves calling potential customers at their home or office, either
to make a sales call via telephone or to set up an appointment for a field salesperson.
A. Outbound telemarketing
B. Inbound telemarketing
C. Direct mail
D. Catalogs
E. Both outbound telemarketing and inbound telemarketing
_____________ budgeting is based on the budget requirements of individual action
plans.
A. Objective-and-task
B. Per-unit
C. Percent-of-sales
D. Comparative-parity
E. All-you-can-afford
_______________ is not a critical selling skill.
A. Persistence
B. Spontaneous planning
C. Listening
D. Follow-up
E. Time management
When Walter, the brand manager for a consumer packaged goods, says that a segment
has sufficient size, he means _________.
A. The market has a large enough television audience to be worth considering
B. The market is reachable
C. The market has an expected return on investment that is positive
D. The market has many customers in it
E. The market is homogeneous
Problem recognition for the business market consumer is triggered by ________.
A. Meeting a new supplier at a trade show
B. Seeing a new product on television
C. Someone inside or outside the company identifying a problem
D. Accepting a cold call by a salesperson
E. Surfing the web
You are the marketing manager for Brand X-Stream Fishing Rods. You are interested in
gathering secondary data on the quality of competitor product offerings before you
collect primary data on new products that your target market desires. To collect these
data you use an Internet search engine to find websites with the desired information.
You decide to use the information found on the Consumer Reports website rather than
that found on Wikipedia. The reason for your selection of the Consumer Reports data is
because it comes from a more ________ source than the data from Wikipedia.
A. Timely
B. Complete
C. Modern
D. Focused
E. Reliable
Beta testing is designed to __________.
A. Encourage customers to evaluate and provide feedback on the prototype
B. Let engineers inside the company to test the product performance
C. Give fake information to competitors about the new product
D. Let online communities discuss and dissect the new product
E. None of these
_____, ______, and _______ are all marketing activities that affect the consumer
decision process.
A. Value proposition, technology, culture
B. Culture, society, technology
C. Value proposition, distribution, marketing communications
D. Distribution, technology, culture
E. Marketing communications, technology, culture
VALS, a form of segmentation based on values and lifestyles, allows marketers to
_________.
A. Better communicate with consumers
B. Understand consumers’ level of resources and motivation
C. Connect to consumers either with their ideals, achievement, or self-expression
D. View eight groups of consumers
E. All of these
The Clean-O company makes an all-purpose cleaner for the hospital and nursing home
market that is guaranteed to kill 99 percent of Staphylococcus germs, a major concern
for medical facilities. The company is not interested in pursuing the consumer market.
Clean-O has adopted a ___________.
A. Market orientation
B. Mass customization orientation
C. Differentiation orientation
D. Relationship orientation
E. Product orientation
In a telemarketing campaign, a good ___________________ helps boost the success
rate by 60 percent.
A. Media plan
B. Market space
C. Sales collateral
D. Catalog
E. List of prospects
The blue colored box that jewelry from Tiffany & Co. comes packaged in is widely
recognized by consumers. This is an example of the ______ role of packaging.
A. Usage promotion
B. Aesthetic
C. Communication
D. Harmony
E. Protection
Henry Ford is well known to business students for creating the assembly line that
enabled mass production of the Model T. This is an example of _____________.
A. Production orientation
B. Selling orientation
C. Marketing orientation
D. Buzz marketing orientation
E. Business orientation
When a company has doubtful positioning, consumers view the claims made by the
company as ________.
A. Being exaggerated
B. Lacking efficiency
C. Lacking credibility
D. Exceeding performance
E. Lacking performance
An understanding of marketing beyond home markets develops over time as a company
gets more international business experience. This process is referred to as the
___________.
A. Global experience curve
B. Global learning continuum
C. International experience learning curve
D. Global experience learning curve
E. International experience continuum
Paul needs very precise audience selection to reach his market of antique cigar ashtray
collectors. _____________ media are the best choice.
A. Television
B. Newspaper
C. Billboard
D. Magazine
E. All of these will work
Tyrone wants to get his girlfriend an impressive gift of chocolates for Valentine’s Day.
He chooses candy that was made in Belgium. This is an example of how consumers
respond to ____________.
A. Brand strategy
B. Country-of-origin effect
C. Quality
D. Fitting the product to the culture
E. Price
Go Fish Sushi restaurants are primarily located in malls. The restaurants had rapid
growth in their first seven years. Now the owner has decided that adding more
restaurants would make it impossible to monitor operations. Most likely the owner is
pursuing a generic strategy of ________.
A. Retrenchment
B. Stability
C. Diversification via concentric means
D. Growth/concentration via vertical integration
E. Growth/concentration based on horizontal integration
Many companies use environmental scanning to identify things that may have
__________.
A. A long-term effect on consumer demand
B. A short-term effect on consumer demand
C. A negative effect on consumer demand
D. A positive effect on consumer demand
E. All of these
Pegasus Express, a well-established North American delivery service, wants to expand
service into Central and South America. This is classified as ___________ in Ansoff’s
Product-Market Matrix.
A. Market diversification
B. Marketing strategy development
C. Market penetration
D. Product development
E. Market development