Rather than assuming that strategic options are bounded by the current environment,
firms adopting a(n) ________ to the marketing environment develop strategies to
change the environment.
A) environmental stance
B) proactive stance
C) reactive stance
D) relativist approach
E) no-compromise approach
A particular automobile company works to keep its customers happy after each sale,
aiming to delight each one of them in order to increase their customer lifetime value.
Which of the following steps of the buyer decision process does the company
exemplify?
A) need recognition
B) information search
C) evaluation of alternatives
D) purchase decision
E) postpurchase behavior
A church targeting different demographic groups to increase attendance is an example
of ________.
A) affinity marketing
B) not-for-profit marketing
C) societal marketing
D) evangelism marketing
E) affiliate marketing
During which of the following stages of the business buying process is a buyer most
likely to conduct a value analysis by carefully studying components to determine if they
can be redesigned, standardized, or made less expensively?
A) proposal solicitation
B) general need description
C) order-routine specification
D) performance review
E) product specification
Which of the following is a demographic factor that a company should consider before
deciding to enter into a new country?
A) transportation structure
B) natural resources
C) political stability
D) languages
E) education
Which of the following is the last step in the selling process?
A) qualifying
B) handling objections
C) demonstration
D) follow-up
E) approach
Product planners need to consider products and services on three levels. Each level adds
more customer value. The most basic level is the ________, which addresses the
question, “What is the buyer really buying?”
A) actual product
B) augmented product
C) core customer value
D) co-branding
E) exchange value
Buyers are less price sensitive when ________.
A) the product they are buying is of inferior quality
B) the product they are buying is low in prestige
C) substitute products are easy to find
D) the product they are buying is unique
E) the product they are buying is non-exclusive
Which of the following is true with regard to value selling?
A) Value selling refers to earning business from customers by cutting down prices of
value products.
B) Value selling refers to delivering superior customer value and capturing a fair return
on that value.
C) Value selling refers to the mass production of inferior-quality goods for sale.
D) Value selling dilutes customer loyalty in the long run.
E) Value selling tarnishes the brand image of a product in the long run.
Which of the following best characterizes the decline stage of product development?
A) rapid market acceptance
B) slow sales growth
C) sales and profits decline
D) high investment costs
E) increasing profits
When selecting a media vehicle, the media planner looks both at the total cost of using
a medium and at the ________.
A) cost per thousand persons reached
B) cost of premium offers
C) cost of the magazine it is using
D) profit margin
E) continuity cost
Which of the following brands most likely requires heavy advertising in order to be set
apart from similar products?
A) undifferentiated brands
B) specialty brands
C) international brands
D) mature brands
E) high-share brands
Business buyers are heavily influenced by factors in the current and expected economic
environment, such as ________.
A) level of primary demand
B) organizational objectives
C) group dynamics
D) individual motives
E) culture and customs
Smart Shoppers, an online store which delivers its products to homes in and around
California, recently switched its entire fleet to biodiesel trucks that run on used cooking
oil rather than gas. Smart Shoppers has most likely developed a(n) ________.
A) vertical marketing channel
B) green supply chain
C) multitiered marketing channel
D) intermodal transportation system
E) hybrid distribution system
________ are a specialized means of shipping petroleum, natural gas, and chemicals
from sources to markets.
A) Airtunnels
B) Rail flatcars
C) Steam ships
D) Pipelines
E) Airlines
A(n) ________ serves to limit the amount of foreign exchange and the exchange rate
against other currencies.
A) exchange premium
B) free trade zone
C) quota
D) exchange control
E) tariff trade barrier
Distinguish between value-based pricing and cost-based pricing.
How do companies identify attractive market segments? How do they choose a target
marketing strategy?
Why is the term “value delivery network” a more relevant expression to use than the
term ‘supply chain” or “demand chain”?
What are the different steps of the marketing research process? How do companies
conduct research?
Discuss two ways a market challenger can best attack the chosen competitor and
achieve its strategic objectives. Explain when a challenger should use these attacks and
provide examples of companies that have used these methods.
What is SWOT analysis?
How do firms practicing channel differentiation gain competitive advantage?