Mass marketing involves identifying market segments, selecting one or more of them,
and developing products and marketing programs tailored to each.
Unsought products are products that the customer usually buys frequently, immediately,
and with a minimum of comparison and buying effort.
Product differentiation refers to the way a product is defined by consumers on
important attributes’”the place the product occupies in consumers’ minds relative to
competing products.
A product idea is an idea for a possible product that a company can offer the market.
The newer the buying task, and the more complex and costly the item, the lesser the
amount of time the buyer will spend searching for suppliers.
A specific communication task to be accomplished with a specific target audience
during a specific period of time is called an advertising objective.
Netnography research involves observing consumers in a natural context on the
Internet.
Rational appeals are often used to urge people to support social causes, such as a
cleaner environment or helping the disadvantaged.
Customers located close to a firm are less likely to benefit from FOB-origin pricing
than customers located further away.
Product line filling is overdone if it results in cannibalization and customer confusion.
The starting point of understanding how consumers respond to various marketing
efforts is called the stimulus-response model of buyer behavior.
An experience such as a vacation can be defined as a market offering.
Companies stretch downward to add prestige to their current products.
The aim of the entire value delivery network is to serve target customers and create
strong relationships with them.
Hispanic Americans tend to be deeply family oriented and make shopping a family
affair. Older consumers are brand loyal, while younger Hispanics have shown
increasing price sensitivity and willingness to choose store brands. Hispanic Americans
make up a ________.
A) subculture
B) social class
C) social network
D) life-cycle stage
E) lifestyle
Sam, the owner of a small company, learned that a competitor was planning to spend
$150,000 on promotion in the next financial year. As soon as he learned this, Sam
called his finance manager and said, “I want to spend $150,000 on promotion next
year.” In this case, which method of promotional budgeting does Sam use?
A) the objective-and-task method
B) the competitive-parity method
C) the percentage-of-sales method
D) the affordable method
E) the pull-push method
People vary in their attitudes toward their society’”while ________ defend it,
malcontents want to leave it.
A) reformers
B) patriots
C) activists
D) environmentalists
E) historical revisionists
Melissa Thomas leads the marketing research division at Tronics Inc., a manufacturing
company based in Alabama. To improve future sales of the company’s products, she has
decided to collect customer opinions and feedback on the current products offered by
her company. For this purpose, Melissa is looking for a highly flexible contact method
that can be used to gather large amounts of data within the least possible time. In this
instance, which of the following contact methods is most likely to hold the highest
appeal for Melissa?
A) online surveys
B) in-depth interviews
C) telephone interviews
D) individual interviews
E) mail questionnaires
________ are groups to which an individual wishes to belong, as when a young
basketball player hopes to play someday for the Los Angeles Lakers.
A) Membership groups
B) Aspirational groups
C) Leading adopters
D) Subcultures
E) Reference groups
Under ________ pricing, different versions of the product are priced differently but not
according to differences in their costs.
A) product form
B) optional product
C) captive product
D) by-product
E) seasonal
Double Drill Inc. segments its foreign markets by per capita income. This firm
segments the international markets based on ________.
A) political factors
B) legal factors
C) geographic location
D) economic factors
E) cultural factors
Which of the following statements reflects the marketing concept?
A) Focus on making continuous product improvements.
B) Undertake a large-scale selling and promotion effort.
C) Emphasize an inside-out perspective.
D) Consider customer focus and value as the paths to sales and profits.
E) Focus on a product-centered make-and-sell philosophy.
Why does direct-mail marketing most likely remain a popular promotional tool for
marketers?
A) It does not disturb consumers enrolled in the Do Not Call Registry.
B) It provides something tangible for people to keep.
C) It builds long-term customer relationships.
D) It involves very low marketing costs.
E) It reaches the consumer very quickly.
Which of the following is an advantage offered by co-branding?
A) Manufacturers do not have to invest in creating their own brand names with
co-branding.
B) Co-branding allows retailers to sell exclusive products that cannot be purchased
from competitors.
C) Co-branding allows a company to expand its existing brand into a category it might
otherwise have difficulty entering alone.
D) Co-branding dilutes brand equity and increases the appeal of store brands.
E) Co-branding does not involve complex legal contracts and licenses.
With an expected increase in ethnic diversity within the American population,
marketers are most likely to place a greater emphasis on ________.
A) geographic segmentation
B) targeted advertising messages
C) mass marketing
D) “do well by doing good” missions
E) corporate giving
________ involves actually distinguishing the firm’s market offering to create superior
customer value.
A) Mass customization
B) Differentiation
C) Market segmentation
D) Diversifying
E) Targeting
Today’s large, progressive wholesalers have successfully reacted to rising costs by
________.
A) relocating to low-rent, low-tax areas
B) investing in information technology systems
C) investing less money in expensive machinery
D) reducing their markup rates
E) reducing promotional activities
The market leader normally gains the most when ________.
A) its total market diminishes
B) it achieves expanded market share
C) its personal communication channels expand
D) the niche marketing efforts by other firms expand
E) the major global competitors enter the market
Which of the following is a component of a firm’s microenvironment?
A) customer demographics
B) economic recessions
C) population shifts
D) marketing intermediaries
E) technological changes
________ refers to purchasing through electronic connections between buyers and
sellers’”usually online.
A) E-procurement
B) General need specification
C) Strategic sourcing
D) Proposal solicitation
E) Value chain management
Which of the following is an example of an indirect marketing channel?
A) June Bride, which sells bridal gowns via its click-to-order online catalogs
B) Farmer Brown, who delivers fresh milk from his dairy to customers every morning
C) Wine & Dine, which sells its picnic baskets to select novelty stores across the
country
D) Lifebelt Insurance, which sells life insurance through its door-to-door salespeople
E) Rhonda’s Rental, which rents cars to people for the day
A style is best defined as a ________.
A) currently popular trend in retail goods
B) popular consumer taste at a given time
C) temporary period of unusually high sales
D) short-term component of the marketing mix
E) basic and distinctive mode of expression
Which of the following is true with regard to the diversity segment of U.S. adults with
disabilities?
A) Most individuals with disabilities are active consumers.
B) The market represented by U.S. adults with disabilities is smaller than that
represented by African Americans or Hispanics.
C) The diversity segment, U.S. adults with disabilities, is a rather unattractive segment
for the tourism industry.
D) The annual spending power of U.S. adults with disabilities is less than $100 billion.
E) Most companies are reluctant to reach out to consumers with disabilities.
Briefly describe competitive advantage.
What is personal selling? What are the advantages and disadvantages of a firm using
personal selling to promote a product or service?
Compare and contrast the four types of products in the societal classification of
products. Provide examples of each.
Discuss the major influences on business buyers.
Define psychographic segmentation.