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Marketing managers know that creating an effective retail strategy begins with
knowledge of _______________.
A.Merchandise assortment
B.
Knowledge of merchandise assortment, level of service, and the retail value proposition
is required to create an effective retail strategy.
_______ is a subjective opinion about something.
A.Belief
B.Motivation
C.Attitude
D.Values
E.Expectations
Beliefs are a subjective opinion about something. Since they are subjective (emotional
and not necessarily based on fact) marketers become concerned that a negative product
belief will create a negative attitude about that product, making the attitude more
difficult to overcome.
The role of retailing is to ________________.
A.Offer variety to customers
B.Separate large product volume into consumer purchase quantities
C.Maintain inventory levels
D.Make additional services available
E.All of the above
Retailers offer variety to customers, separate large product volumes into consumer
purchase quantities, maintain inventory levels, and make additional services available.
While culture affects people in many ways, three factors are particularly relevant in
consumer behavior: ______.
A.Language, values, and attitude
B.Language, attitude, and nonverbal communications
C.Values, attitudes and language
D.Values, beliefs, and language
E.Language, values, and nonverbal communications
Language is the primary communication tool in society. Cultural values are principles
shared by a society. Non verbal communication is related to interpretation of facial
expression and body language. These 3 factors are particularly relevant to consumer
behavior.
Social class as a segmentation tool takes into account _______.
A.Income
B.Education
C.Occupation
D.None of the above
E.A, B, and C
The composition of social classes takes into account several important demographic
variables including income, occupation, and education.
With respect to buying centers, ____________.
A.It is difficult to identify the members
B.The only important people are users and influencers
C.Gatekeepers initiate the buying process
D.Influencers can not be deciders
E.Influencers are the people who control access to key people
Identifying the members of a buying center can be difficult and is made more
challenging by gatekeepers. The job of identifying membership in the buying center is
made even more complex as participants come and go over time.
When a company can show that their product's projected lifetime is high under certain
operating conditions, they may be able to achieve a _________.
A.Brand image that is linked to conformance
B.Brand image that is one of strength and is performance oriented
C.Brand image that is based upon form and get a higher price
D.Brand image focused on durability and get a price premium
E.Brand image based on performance and get a price premium
Data shows that people find durability, the projected lifetime of the product under
specific operating conditions, to be an important discriminating product characteristic
and are willing to pay a premium for products that can demonstrate greater durability.
Before moving forward to develop a promotion mix for a brand new product category,
the marketing manager must establish ___________ goals for the promotion.
A.Inform
B.Remind
C.Action
D.Persuade
E.Desire
The goal to inform through promotion is served by indicating features when introducing
new products or making product modifications, explaining product functionality,
articulating what a company and its brands stand for in order to develop a clear image,
and by discussing various uses and applications for the product.
When a company tries to make the product or service significantly easier to obtain than
the competition, it is employing ______.
A.Service leadership
B.Image leadership
C.Competitive intelligence
D.Perceptual mapping
E.Convenience leadership
When a company tries to make the product or service significantly easier to obtain than
the competition, it is employing convenience leadership. For example, amazon.com
Before salespeople spend much time trying to establish a relationship with a
prospective account, it is important to _____ to determine if the company is a legitimate
potential customer.
A.Qualify the prospect
B.Communicate the sales message
C.Handle customer objections
D.Follow up with other customers
E.Make a sales presentation
Before salespeople spend much time trying to establish a relationship with the
prospective account, it is important to qualify the prospect to determine if the company
is a legitimate potential customer. The process involves answering five questions
relating to the prospect's need for the product, the value-additions derived by the
prospect from the product, the salesperson's ability to complete the sales process, the
financial ability and authority of the prospect to make the sale, and the profitability of
the sale.
A(n) _________ displays paired attributes in order to compare consumer perceptions of
each competitor's delivery against those attributes.
A.Virtual map
B.Attribute map
C.Monolithic map
D.Perceptual map
E.None of the above
A perceptual map is a useful visual tool for positioning which displays paired attributes
in order to compare consumer perceptions of each competitor's delivery against those
attributes.
One way to extend the product is by ___________.
A.Creating additions to existing product lines
B.Creating new names for the same product
C.Repositioning the product
D.Introducing the product to a new market
E.Encouraging repeat purchase
A company can extend a product by creating additions to an existing product line. An
example of this is Coke with Coke Zero.
_____________ take title to the product.
A.Auction houses
B.Merchant intermediaries
C.Agent intermediaries
D.Clearing houses
E.Stock exchanges
Merchant intermediaries are the intermediaries who take title to the products.
The marketing manager of Super Fresh Frozen Vegetables is working on the package
for a new line of self-steaming microwaveable vegetables. He wants the package to
show a physically fit individual happily eating the product and how to work the steamer
packaging. He is focusing on the ______ objective of packaging.
A.Usage Promotion
B.Aesthetic
C.Communication
D.Harmony
E.Protection
To encourage product use, packages frequently demonstrate a product and show the
product being used by a happy customer which connects the product to the target
customer. Thus, in this case, the manager is focusing on the usage promotion objective
of packaging.
A fundamental criterion in vendor selection is the vendor's ability to meet contractual
obligations including delivery times and service schedules. This concept is called
______.
A.Supplier choice
B.Dependability
C.Reliability
D.Sustainability
E.None of the above
The most fundamental criterion in vendor selection is reliability, which is the vendor's
ability to meet contractual obligations including delivery times and service schedules.
International Delight coffee creamers frequently adds new flavor offerings to its product
offerings. This would be an example of a ______ extension.
A.Natural
B.Line
C.Random
D.Category
E.Basic
Companies can use branding to extend a line where each new product added extends
the line. Since the company is adding only new flavor offerings to its product (and not
entering into a new category of products), this is an example of line extension.
No matter how good a company's current products are, long term growth depends on
_________.
A.Recycled products
B.Product deletions
C.Product enhancements
D.New products
E.All of the above
A company has to bring new things to the market in order achieve growth in the long
term.
Kari is the CEO of an up-and-coming new fashion label. She has just received a big
order and needs to obtain the necessary equipment and materials to be able to fulfill the
order. She has hired you, a business consultant, to assist her in making her decision.
How would you walk her through the business market consumer decision process?
How does the American Marketing Association define marketing?
Why is perception of a product important in marketing?
Discuss the advantages and disadvantages of objective versus subjective measures of
sales performance.
Room Reveal is a company that creates custom interior doors for residential and
business properties. They currently take orders over the phone and mainly e-mail the
orders to the appropriate people to have the orders fulfilled. What should Room Reveal
implement to help with order processing?
How would you use geographic segmentation in the bathing suit market?
