Online flash sales are used to create buying urgency and make buyers feel lucky to have
gotten in on the deal.
The EU acts as an umbrella organization that oversees GATT and mediates global
disputes.
Alternative evaluation is the process by which people select, organize, and interpret
information to form a meaningful picture of the world.
To overcome price escalation when selling to less-affluent consumers in developing
countries, companies offer their same products at lower prices.
When a company views and organizes its marketing activities from only the consumer’s
point of view, it is practicing societal marketing.
If the pull strategy is effective, then consumers will demand the product from channel
members, who will in turn demand it from producers.
Customer perceptions of the product’s value set the floor for prices.
Personal selling involves interpersonal interactions between salespeople and individual
customers.
Customer-perceived value is defined as the customer’s evaluation of the difference
between all the benefits and all the costs of a market offering relative to those of
competing offers.
Sales promotion consists of long-term incentives to encourage the purchase of a product
or service.
Marketers are the least effective when they appeal to existing wants rather than when
they attempt to create new ones.
The major criticisms of marketing include harming consumers through high prices,
deceptive practices, high-pressure selling, shoddy or unsafe products, planned
obsolescence, and poor service to disadvantaged countries.
New product development begins with a systematic search for new product ideas
through idea generation.
Kirk’s Comic Store has its own mobile app that users can download for free. The app
lets users know about special events, discounts, and merchandise currently available in
the store. Which of the following forms of marketing is exemplified from this scenario?
A) social media marketing
B) kiosk marketing
C) direct-response television marketing
D) mobile marketing
E) direct-mail marketing
The fixed cost in manufacturing a single LED monitor is $40 and the variable cost is
$12. If the company expects to manufacture 5,000 monitors, the total costs would be
________.
A) $60,000
B) $200,000
C) $260,000
D) $420,000
E) $500,000
In 1994, the North American Free Trade Agreement (NAFTA) established a free trade
zone among the United States and Costa Rica, the Dominican Republic, El Salvador,
Guatemala, Honduras, and Nicaragua.
The first step in initiating competitive marketing strategies is to ________.
A) balance customer and competitor orientations
B) design broad competitive marketing strategies
C) assess long-term organizational objectives
D) conduct competitor analysis
E) conduct transaction analysis
Many firms today use RFID technology to ________.
A) identify new target markets
B) analyze threats and opportunities in the macroenvironment
C) move toward environmental sustainability
D) track products through various points in the distribution channel
E) track patterns of online consumer behavior
A manufacturer that offers cash or gifts to dealers for encouraging the purchase of its
products is using ________.
A) coupons
B) push money
C) promotional products
D) premiums
E) bonuses
Though the ________ method of setting an advertising budget is simple to use and
helps management think about the relationships among promotion spending, selling
price, and profit per unit, it wrongly views sales as the cause of promotion rather than
the result.
A) percentage-of-sales
B) integrated
C) competitive-parity
D) objective-and-task
E) regression
In ________, the producer marks the reduced prices directly on the label or package.
These offer consumers savings off the regular price of a product and are very effective
in stimulating short-term sales.
A) promotional products
B) coupons
C) cents-off deals
D) samples
E) rebates
Which of the following is a geographical pricing strategy?
A) basing-point pricing
B) segmented pricing
C) dynamic pricing
D) Internet pricing
E) location-based pricing
Executives at an automobile manufacturing company conducted a brainstorming
session for selected employees. This session resulted in a large number of ideas for
developing new cars after extensive R&D. The executives then planned to filter out the
best ideas during the ________ stage.
A) business analysis
B) idea generation
C) concept testing
D) idea screening
E) concept development
________ is a new product development approach in which one company department
works to complete its stage of the process before passing the new product along to the
next department and stage.
A) Team-based product development
B) Simultaneous product development
C) Sequential product development
D) Horizontal integration
E) Vertical integration
A(n) ________ is a written representation of a salesperson’s completed activities.
A) bill of sale
B) call report
C) tender
D) sales quotation
E) contract of sale
Which of the following statements about outdoor media is true?
A) It has no creative limitations.
B) It is characterized by higher costs per exposure.
C) It has good positional selectivity.
D) It has very limited flexibility.
E) It has high audience selectivity.
________ is determined by a customer’s evaluation of the benefits and costs of a market
offering relative to those of competing offers.
A) Customer-perceived value
B) Customer lifetime value
C) Share of customer
D) Customer-managed relationship
E) Brand value proposition
An American airline company started a grocery chain in Australia. This is an example
of product development.
“Losing a customer once means losing the entire stream of possible purchases that the
customer would make over an extended period of patronage.” This statement
specifically indicates loss in terms of ________.
A) customer-perceived value
B) marketing offerings
C) partner relationship management
D) customer lifetime value
E) value proposition
Customer information is often buried deep in separate databases and records of different
company departments. To overcome such problems, many companies are now turning
to ________ to manage detailed information about individual customers.
A) neuromarketing
B) customer needs marketing
C) customer relationship management
D) ethnographic research
E) netnography research
Henry Ford’s philosophy was to perfect the Model T so that its cost could be reduced
further for increased consumer affordability. This reflects the ________ concept.
A) product
B) production
C) selling
D) marketing
E) societal marketing
________ refers to the sales step in which a salesperson asks the customer for an order.
A) Prospecting
B) Demonstration
C) Approach
D) Closing
E) Handling objections
Nintendo, producer of the Wii video game console, might define its competitors as
other makers of physically interactive video games. But from a(n) ________ point of
view, it would include all firms making physically interactive recreational products.
A) industry
B) market
C) segment
D) niche
E) interdependent
A company’s marketing communications mix’”also called its promotion mix’”blends
five different components. List and define these components.
Explain how the creation of the National Do Not Call Registry may have helped
telemarketers more than it hurt them.
What are the two levels in the sustainability portfolio that deal with “beyond greening”
activities that tend to pay off in the longer term?
What is the primary function of gatekeepers in an organization?
Explain the practice of redlining and why it is criticized.
Briefly discuss monopolistic competition.