When the brand manager for John Deere sets up advertising, sales promotions, events,
and public relations to communicate about the value embodied in its products, she is
participating in the “communicating value” management function.
Venture teams are cross-functional groups charged with developing a specific product
or business.
A segment is unattractive if the company’s suppliers are able to raise prices or reduce
quantity supplied.
Loyal customers are the best ambassadors for a brand.
An attractive niche consists of customers having a distinct set of needs.
Business buyers often select suppliers who also buy from them.
A stakeholder-performance scorecard tracks the satisfaction with the company and its
products and services among such entities as suppliers, banks, and stockholders.
A dichotomous question is a question with three or more answers.
Important developing or emerging markets include Brazil, Russia, India, Canada, and
South Africa, often called “BRICS” for short.
According to Herzberg’s two-factor theory, satisfiers will make the major difference as
to which brand the customer buys.
A person’s position in a group is defined in terms of role and status.
A customer touch point is when the customer makes a purchase.
Whereas economic circumstances can have a profound effect on consumption,
occupation does not impact how people spend their money and what they buy.
At the interest stage of the consumer-adoption process, the consumer becomes aware of
the innovation but lacks information about it.
________ is a company’s ability to perform in one or more ways that competitors
cannot or will not match.
A) Brand positioning
B) Market research
C) Competitive advantage
D) Competitor analysis
E) Competitive intelligence
With respect to the brand building pyramid, at which of the following “building block
levels” would we expect the consumer to develop an intense, active loyalty?
A) salience
B) imagery
C) feelings
D) judgments
E) resonance
The ________ market is the set of consumers who are buying the company’s product.
A) potential
B) available
C) target
D) penetrated
E) reserve
According to the General Services Administration Procurement Data Center, more than
________ million individual contract actions are processed every year.
A) 20
B) 25
C) 30
D) 35
E) 40
Which of the following is an example of a gap between management perception and the
service-quality specifications?
A) The college brochure showed state-of-the-art classrooms, but when the visitors
walked in, they saw peeling walls and dull lighting.
B) A nurse visits a patient to show care, but the patient interprets this as an indication
that something is very wrong.
C) The hotel administrators think that guests want better food, but guests are more
concerned with the courtesy of the waiters.
D) A service center manager has asked his subordinates to provide fast service, but has
not specified a time for the service to be performed.
E) Customer service representatives are asked to give ample time to each customer, but
must serve a minimum of 50 customers a day.
Which of the following is the first step in customer value analysis?
A) Examine how customers in a specific segment rate the company’s performance.
B) Assess the company’s and competitors’ performances on the different customer
values against their rated importance.
C) Identify the major attributes and benefits that customers value.
D) Monitor customer values over time.
E) Assess the quantitative importance of the different attributes and benefits.
Morboro Energy Inc. is a large chain of fuel stations in Europe. The company decided
to expand its business by incorporating restaurants and automobile service stations as a
part of its fuel outlets. This is an example of ________.
A) lateral marketing
B) brand extension
C) market development
D) internal marketing
E) brand personification
Many US firms prefer to sell in Canada, England, and Australia ‘” rather than in larger
markets such as Germany and France ‘” because they feel more comfortable with the
languages, laws, and culture, which reflect the ________ between these countries and
the United States.
A) self-serving bias
B) coincident development
C) psychic proximity
D) cognitive dissonance
E) backward invention
When a marketer expresses his or her vision of what a brand must be and do for
consumers, he or she is expressing what is called a brand ________.
A) promise
B) personality
C) identity
D) position
E) revitalization
Which of the following sequences accurately represents the hierarchy-of-effects model
of marketing communications?
A) attention-interest-desire-action
B) awareness-interest-evaluation-trial-adoption
C) awareness-knowledge-liking-preference-conviction-purchase
D) exposure-reception-cognitive response-attitude-intention-behavior
E) knowledge-persuasion-decision-implementation-confirmation
Which of the following is an advantage of using radio as an advertising medium?
A) higher attention than television
B) standardized rate structures
C) long duration of ad exposure
D) high quality reproduction
E) high geographic selectivity
Which of the following is true about a brand-asset management team (BAMT)?
A) A BAMT is part of the triangular and vertical product team structures.
B) BAMTs often report directly to the organization’s chief branding officer.
C) BAMTs are a traditional, tried and tested means of managing brands.
D) Companies with a product-management organization often have only one BAMT.
E) The BAMT consists of key representatives from functions affecting the brand’s
performance.
Internet users spend ________ of their time online searching for information.
A) 5 percent
B) 10 percent
C) 12 percent
D) 15 percent
E) 20 percent
Which of the following types of marketing research firms gathers consumer and trade
information and then sells it for a fee (e.g., Nielsen Company)?
A) custom marketing research firms
B) syndicated-service research firms
C) specialty-line marketing research firms
D) generic marketing research firms
E) focused marketing research firms
Adopters of new products move through five stages. These stages begin with ________
and follow with interest, evaluation, trial, and adoption.
A) awareness
B) investigation
C) trial
D) innovation
E) diffusion
BENGAY aspirin, Cracker Jack cereal, Frito-Lay lemonade, and Fruit of the Loom
laundry detergent are examples where consumers’ ________ dictated that the extensions
were inappropriate for the brand.
A) brand knowledge
B) brand equity
C) brand stature
D) power grid
E) brand salience
The family in a buyer’s life consisting of parents and siblings is the ________.
A) family of procreation
B) family of influence
C) family of efficiency
D) family of orientation
E) purchasing family
What is a global firm?
A) A firm that operates in one country and exports its goods and services to foreign
countries.
B) A firm that operates in more than one country and has a sales and marketing staff in
those countries.
C) A firm that operates in more than one country and captures R&D, production,
logistical, marketing, and financial advantages not available to purely domestic
competitors.
D) A firm that sells its products and services across the world but restricts
manufacturing to the home country.
E) A firm that operates in more than one country but restricts the sale of its products to
the home country.
Which of the following ads depict a transformational appeal?
A) Thompson Water Seal can withstand intense rain, snow, and heat.
B) DIRECTV offers better HD options than cable or other satellite operators.
C) NBA phenomenon LeBron James pitching Nike, Sprite, and McDonald’s.
D) Pringles advertised “Once You Pop, the Fun Don’t Stop” for years.
E) Excedrin stops the toughest headache pain.
According to the VALS segmentation system, ________ are successful, sophisticated,
active, “take-charge” people with high self-esteem. Their purchases often reflect
cultivated tastes for relatively upscale, niche-oriented products and services.
A) Innovators
B) Thinkers
C) Achievers
D) Experiencers
E) Believers
Which of the following is the first step in setting a pricing policy?
A) selecting a pricing method
B) selecting the pricing objective
C) determining demand
D) estimating cost
E) analyzing competitors’ costs, prices, and offers
Which of the following types of differentiation refers to companies effectively
designing their distribution medium’s coverage, expertise, and performance to make
buying the product easier and more enjoyable and rewarding?
A) services differentiation
B) channel differentiation
C) image differentiation
D) product differentiation
E) employee differentiation
A company that is looking to maximize its market share would do well to follow
________ pricing.
A) markup
B) market-penetration
C) market-skimming
D) survival
E) target-return
What is a product-feature specialist?
You know that marketers have traditionally classified products based on characteristics
of durability, tangibility, and use. You also know that each product type has an
appropriate marketing-mix strategy attached. In analyzing your company’s products,
you decide to list each of these products and the appropriate marketing-mix strategy to
understand where your products “fit.” List these products and their appropriate
marketing-mix strategies.
The cost of buying higher market share through acquisition may far exceed its revenue
value. Which are the four factors a company should consider before doing so?
Each person has personality characteristics that influence his or her buying behavior.
What does personality mean in terms of buying traits?
Explain the country-of-origin effect.
What are the choices available to companies when setting prices to avoid price
escalation problems?
Provide an example of a company that is adapting and thriving in these changing times.
Be specific about how it has adapted its marketing strategy to adjust to the times.