According to the VALS system developed by SRI International, survivors are cautious
customers.
A major disadvantage of the marketing concept is that it is limited to current, expressed
needs.
The key to using customer service to develop long-term relationships is to view service
as a way of differentiating your product from the competition.
The response rates for coupons are very high, so the expense per redemption is low.
The overall purpose of the marketing plan is to enable the marketing manager to stay in
touch with the three key parts of the business environment crucial to his or her success:
customers, competitors, and factors outside the control of both customers and
competitors.
Regression analysis is a causal method of sales forecasting in which certain
macroeconomics variables are used to forecast changes in an economy.
A good primary source of market information is your sales force and customers.
The money a company spends to help the channel members sell its products is called
market development funding.
Negative gaps in perceived service quality can be remedied by lowering customer
expectations.
The focus group is the best known and most widely used quantitative research method.
This activity involves a detailed examination of what happened during the call,
“win–loss” reports on new business won or customers lost, any information picked up
about competition such as their prices, and any other market intelligence. Identify this
salesperson activity.
A) planning the sales call
B) filling out the call report
C) post-call analysis
D) communicating with the customer
Which of the following brands is most likely to carry a retailers chain name?
A) generics
B) value brands
C) private labels
D) national brands
Which of the following is one of the “3Cs” of marketing?
A) communication
B) community
C) commitment
D) company
Which of the following types of attributes are typical of manufactured products?
A) search
B) experience
C) credence
D) feature
Identify the statement that is true about services.
A) Services do not exist until they are sold to customers.
B) Image and perception are not critical in services marketing.
C) Services are not marketed on the basis of assumptions.
D) Services cannot exist without tangible benefits associated with them.
Coke and Sony are well-known, heavily supported, and distributed by global
companies. They are examples of:
A) national brands.
B) value brands.
C) private labels.
D) generic brands.
Multilearning refers to:
A) transmitting the learning across different levels and functions.
B) allowing project teams to operate like startup companies.
C) allowing various phases of development to overlap.
D) top management providing only a general strategic direction for the team without
controlling it strictly.
The reason for the existence of credence attributes is that:
A) customer lacks the expertise to make an evaluation.
B) the products are familiar to most of the customers.
C) the products are intangible and customers can only feel it.
D) customers are knowledgeable and concerned about the quality of the products.
Which of the following statements is true regarding channels?
A) It stops at the loading platform and what happens afterward is the buyers
responsibility.
B) Its members are considered as a substitute of the firm.
C) Customers do not associate problems in the channel with the firm.
D) Pull activities of channel management require getting channels to carry and sell the
product.
When Microsoft introduced the Xbox videogame console in 2001, the company priced
it at $299, exactly the same price as Sonys PlayStation 2, the market leader. Identify
this pricing strategy.
A) penetration pricing
B) skimming
C) competitive pricing
D) investment pricing
Which of the following is one of the challenges to creating a customer database?
A) reluctant to share personal information
B) lack of availability of appropriate software to store customer data
C) expansion in the number of possible “touchpoints”
D) stringent laws against creating customer database
________ involves sending letters or catalogues to reach potential customers.
A) Direct mail marketing
B) Advertising
C) Personal selling
D) Telemarketing
The most basic concept test is a ________ test that describes several concepts briefly
and asks subjects for an overall evaluation.
A) screening
B) concept generation
C) concept evaluation
D) concept development