Sequential product development, which is a team-oriented approach, enables firms to
bring products to market very quickly.
Product development usually costs the least among all the steps of the new product
development process.
Marketing researchers can conduct their own searches of secondary data sources by
using commercial online databases.
Advertising agencies that help a company target a certain section of customers are
marketing intermediaries.
“At CL Online, we create customer connectivity, anytime, anywhere” is a
product-oriented mission statement.
Organizations that follow the societal marketing concept most likely practice socially
and environmentally responsible marketing.
The process of dividing the market into segments of customers is known as market
penetration.
Often, companies form joint ownership ventures to merge their complementary
strengths in developing a global marketing opportunity.
The first step for most firms that are venturing into online marketing involves sending
promotional e-mails.
To overcome the problem of price escalation when selling to less-affluent consumers in
developing countries, many companies make simpler or smaller versions of their
products that can be sold at lower prices.
Global companies recruit management from many countries, buy components and
supplies where they cost the least, and invest where the expected returns are greatest.
Whereas space is limited in an online catalog, print catalogs can offer an almost
unlimited amount of merchandise.
According to the text, the goal of any logistics system should be to maximize sales, not
profits.
Companies that practice perceived obsolescence use product components that will
break, wear, rust, or rot sooner than they should.
Providing samples is the most inexpensive way to introduce a new product.
Of the different types of buying situations, a buyer makes the fewest decisions in a
new-task situation and the most in a straight rebuy.
Marketing ROI is the net return from a marketing investment divided by the costs of the
marketing investment.
When consumers react more favorably to a brand than to a generic or unbranded
version of the same product, the brand is said to have positive brand equity.
In a just-in-time logistics system, ________.
A) retailers carry small inventories of merchandise to last for only a few days
B) retailers store products for long periods to avoid an interruption in supply
C) producers supply products to resellers before customers place their orders
D) producers that are geographically far from their retailers use an express-delivery
system
E) retailers incur high inventory-carrying and inventory-handling costs
A ________ is the way consumers perceive an actual or potential product.
A) product audit
B) product feature
C) product image
D) product framework
E) product concept
Which of the following do organizational buyers use when they want to connect with
important suppliers and create direct procurement accounts?
A) extranet links
B) intranet links
C) search engines
D) trading exchanges
E) reverse auctions
RedInk, a company that manufactures office furniture, is based in Bodonia. It is looking
to sell its current products in other countries as well. The company identifies the
country of Soleria as a good option because the cultures and tastes of consumers in the
two countries are similar. This is an example of a strategy for ________.
A) market penetration
B) market development
C) downsizing
D) diversification
E) product development
Which of the following is true of perceptual positioning maps?
A) They are used by marketers to divide a market into smaller groups with distinct
characteristics.
B) They are used by marketers to identify supplier and retailer perceptions of a product.
C) They are used to analyze consumer perceptions of a brand versus competing
products.
D) They are used to divide buyers into groups based on their perceived income and age.
E) They are used to plot the geographic segments that a company needs to target.
In a promotion mix, ________ occurs when a firm’s sales force makes individual
presentations to consumers for the purpose of promoting sales and building customer
relationships.
A) advertising
B) public relations
C) crowdsourcing
D) merchandising
E) personal selling
Internal sources of new product ideas for a company include its ________.
A) customers
B) distributors
C) suppliers
D) employees
E) competitors
Which of the following is most likely true about people’s beliefs and values?
A) Belief in marriage is a secondary belief for most Americans.
B) Secondary beliefs and values cannot be changed.
C) Marketers have a high chance of changing core beliefs and values.
D) Secondary beliefs are passed on from parents to children.
E) Core beliefs and values have a high degree of persistence.
Which of the following is true of joint ownership?
A) The domestic firm exports management services rather than products.
B) Foreign investors gain complete possession and control over the local firm.
C) The arrangement is mandatory for businesses to enter some foreign markets.
D) A domestic company seldom needs a host country partner to enter into the market.
E) The domestic company loses its title of ownership to foreign investors in the
arrangement.
In which step of the selling process does a salesperson set call objectives?
A) preapproach
B) approach
C) presentation
D) qualifying
E) prospecting
In a sequential new product development process, concept testing is most likely to be
followed by ________.
A) idea screening
B) marketing strategy development
C) business analysis
D) product development
E) test marketing
________ marketing features marketing messages, promotions, and other content
delivered to on-the-go consumers through their portable electronic devices.
A) Direct-mail
B) Mobile
C) Mass
D) Viral
E) Kiosk
Lemon N’ Honey is a juice manufacturing company in the United States. It exports its
products to Australia, licenses to China, has a joint ownership venture in France, and
owns a subsidiary in Brazil. The firm will most likely need to create a(n) ________ to
handle all its worldwide activities.
A) international division
B) domestic market
C) value delivery network
D) export department
E) domestic division
________ is used to study the course of a product’s sales and profits for the duration
that it is produced and sold in the market.
A) A sequential product development process
B) A product life cycle
C) Business analysis
D) Vendor analysis
E) Portfolio analysis
________ are sales promotion tools used to generate new business leads, stimulate
purchases, educate customers, and motivate salespeople.
A) Trade shows
B) Rebates
C) Allowances
D) Point-of-purchase promotions
E) Sweepstakes
Product mix width refers to the ________.
A) number of versions offered for each product in the line
B) ways in which the various product lines are related
C) number of different product lines the company carries
D) total number of items a company carries within its product lines
E) total market share captured by the entire product line
________ products are less frequently purchased consumer products and services that
customers compare carefully on suitability, quality, price, and style.
A) Convenience
B) Capital
C) Unsought
D) Shopping
E) Secondary
Campbell is one of the oldest retailers in the country. While the service offered at
Campbell is fairly mediocre, the retailer is famous for its surprise offerings of seconds,
overstocks, and closeouts’“occasionally including expensive gadgets and jewelry.
Posco, a new chain of retail stores, offers products that are similar to Campbell’s
offerings; however, Posco is known for encouraging customers to ask questions and for
providing service representatives to assist customers in the purchasing decision process.
From this scenario, which of the following statements is most likely true?
A) Posco fails to differentiate itself from Campbell through the services mix.
B) Posco’s product assortment helps differentiate it from Campbell.
C) Both Campbell and Posco fail to identify the needs and wants of target markets.
D) Campbell has not been able to differentiate itself on the basis of product assortment.
E) Posco better utilizes the services mix to differentiate itself from Campbell.
Which of the following is a geographic shift that has been observed in the United States
in recent times?
A) fewer Americans moving to Sunbelt states
B) fewer Americans moving to the South
C) more Americans moving to the Midwest
D) more Americans moving to densely populated cities
E) more Americans moving to micropolitan areas
________ are distribution channel firms that help a company find customers or make
sales to them.
A) Resellers
B) Suppliers
C) Producers
D) Logistics firms
E) Credit companies
Rad, a manufacturer of luxury watches, charges a higher price for its products than its
competitors. Despite the high prices, the brand is popular among customers for its
quality and service in comparison to cheaper alternatives available in the market. In this
case, Rad offers a(n) ________ value proposition.
A) more-for-more
B) more-for-the-same
C) more-for-less
D) all-or-nothing
E) same-for-less
What is the North American Free Trade Agreement (NAFTA)?
Why do today’s firms need integrated marketing communications systems? How do
firms benefit from such systems?
Discuss the concept of brand positioning.
What is a brand? What are the advantages of branding?
Differentiate between the three types of marketing research objectives: exploratory
research, descriptive research, and causal research.
Why is it beneficial for a firm to coordinate its marketing and sales efforts? What
actions can a company take to bring its marketing and sales functions closer together?