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When a marketer adjusts the marketing mix to give customers a clear, distinctive
understanding of what the product does, the marketer is engaging in psychographic
segmentation.
Answer:
Determinant attributes are product or service features that are important to the buyer
and on which competing brands or stores are perceived to differ.
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STP refers to segmentation, testing, and promotion.
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Customers are more likely to talk about service that exceeded their expectation than
about service that did not meet their expectation.
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Proving that a company has engaged in the deceptive bait and switch practice is easy.
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Betty is assessing the effect of her firm's marketing communications. She should
remember that the ultimate goal is to drive the receiver to action.
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A firm just starting out usually has the option of choosing from whom it buys and to
whom it sells.
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Online sales training is used to replace the one-on-one interaction of on-the-job training
for advanced selling skills.
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Marketers can introduce ethics at the beginning of the planning phase of the strategic
marketing planning process by including ethical statements in the firm's mission or
vision statements.
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The first step in the personal selling process is the preapproach.
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As the euro becomes more expensive relative to the dollar, Americans are likely to
purchase more European wines.
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The primary federal agencies that regulate advertising activities in the United States are
the Fed, FEMA, and the FCC.
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The objectives of the 4E framework for social media are excite, educate, engage, and
evaluate.
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Business-to-business marketing refers to buying and selling goods or services to
consumers.
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A company that sells only multigrain, low-calorie bread should use an undifferentiated
targeting strategy.
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The Big Mac Index is a measure of economic health in a country.
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The expression "3/10, n/30" means that a business must pay 3 percent of the total
invoice amount in 10 days, with the remainder due in 30 days.
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Positive engagement through social media often makes customers more profitable for
the firm.
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The best-known microblogging site is Google+.
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In a direct marketing channel, there are no intermediaries between the buyer and the
seller.
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Pricing strategies should be aligned with a firm's overall goals and objectives.
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Jenny traded in her old car for her heart's desire, a new Lexus sedan. The Lexus is
considered a specialty product.
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In training service providers, service quality goals should be general to allow for the
various needs of consumers.
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In the marketing research process, data collection happens after research design.
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Entering into a global franchise agreement exposes a company to higher risk than if the
company had entered into direct investment in the country.
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Price is the only part of the marketing mix that does not generate costs.
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When the Toyota Prius first entered the marketplace, dealers kept waiting lists of people
wanting one and the factories had to ramp up production and order more raw materials.
This is an example of derived demand.
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The next broad wave of mobile applications is likely to center around "m-wallets"
which will enable customers' smartphones to be used for wireless payments.
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Effectively managing supply chains has a minimal effect on profitability.
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One of the benefits of marketing research is it reduces the uncertainty under which
managers make decisions.
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According to the American Marketing Association, marketing is the activity, set of
institutions, and processes for creating, capturing, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at
large.
Answer:
A roofing company agreed to complete a job in one week and collected a 50 percent
deposit, but never showed up to do the job. The same roofing company then donated
$6,000 to a local children's hospital. The roofing company could be considered socially
responsible.
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Happy Cow is an example of a location-based social media application.
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Marketing's fundamental purpose is to create value by developing a variety of offerings
that will earn income for the company.
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Julia's is an upscale women's clothing store. Prices are based on customers' beliefs
about the value of the clothing. The store focuses on a limited target market and
provides excellent customer service. Julia's is using a _______ pricing strategy.
A. customer-oriented
B. target profit
C. target return
D. status quo
E. maximizing profits
Answer:
Which of the following strategies is designed to place products in as many outlets as
possible?
A. intensive distribution
B. exclusive distribution
C. selective distribution
D. surplus distribution
E. contractual distribution
Answer:
Location-based software and applications can help bring a special offer to customers
right on their smartphones when they are in the process of making a purchase decision.
This best represents which aspect of the 4E framework of social media marketing?
A. engage
B. energize
C. excite
D. experience
E. educate
Answer:
When a new product is not being sold at the rate originally forecasted, the retailer may
reduce the price in order to reduce the inventory of the product. This reduction is known
as a
A. markdown.
B. rebate.
C. coupon.
D. cash discount.
E. quantity discount.
Answer:
Four companies dominate the cereal industry. These firms produce in large volumes,
promote heavily, and control access to the supermarket shelves through 'slotting
allowances," which are payments to retailers in return for shelf space. Combined, these
four firms have
A. identical marketing mixes.
B. customer excellence.
C. a sustainable competitive advantage.
D. achieved product excellence.
E. violated laws governing competition.
Answer:
By offering environmentally responsible products, green marketers
A. undercut prices of nonenvironmentally responsible marketers.
B. keep costs much lower than those of competitors.
C. make consumers feel guilty for buying other products.
D. add value that other products do not have.
E. all of these
Answer:
Which aspect of the 4E framework is aimed at action, the potential for a relationship,
and possibly even loyalty and commitment?
A. educate
B. energize
C. excite
D. experience
E. engage
Answer:
Insight Guides, a line of travel books, provides travelers with background information
about people's beliefs, values, and customs in various parts of the world. Insight's books
educate travelers about a country's
A. social concerns.
B. political parties.
C. demographics.
D. generational cohorts.
E. culture.
Answer:
Whenever Valerie has a new massage therapy customer, she invites the person to be on
her e-mail distribution list. In the process, in addition to exchanging her massage
therapy service for payment, Valerie is gathering
A. information.
B. promotional capital.
C. pricing data.
D. value cocreation.
E. feedback.
Answer:
When considering global marketing opportunities in Bangladesh, Tom asked the
question, "How will we get it there?" Tom is concerned about __________ capabilities
in Bangladesh.
A. production capacity
B. pricing
C. advertising
D. infrastructure
E. cultural
Answer:
If Melissa decides to sell the best ice cream on earth, and intends to establish a strong
ethical climate in her organization, during which phase of the strategic marketing
planning process should she introduce ethical considerations?
A. planning
B. implementation
C. control
D. experience
E. ethics
Answer:
When a company decides to minimize risk and enter a global market by shipping its
products to buyers in other countries, this is known as
A. exporting.
B. franchising.
C. a strategic alliance.
D. a joint venture.
E. direct investment.
Answer:
Marketing has traditionally been divided into a set of four interrelated decisions known
as the marketing mix, or four Ps, including all of the following except
A. product.
B. place.
C. performance.
D. promotion.
E. price.
Answer:
Apple computer users tend to like the company and love its products. Apple has
nurtured this __________ component of its customers' attitudes.
A. social
B. affective
C. psychological
D. cognitive
E. physiological
Answer:
Generally speaking, all advertising messages are designed to
A. meet the needs of society.
B. inform, persuade, or remind customers.
C. comply with FCC rules combined with FTC antitrust regulations.
D. entertain or apprise.
E. match production scheduling with consumer demand.
Answer:
Retailing is the primary activity in all of the following situations except
A. buying and eating a fast-food meal.
B. transporting pallets of Daisy brand dairy products.
C. visiting a tile store which sells at wholesale prices.
D. upgrading an airline ticket at the airport.
E. purchasing one case of paper for the office at Office Max.
Answer:
Which of the following is an example of an unstructured question?
A. "Would you buy this product (Yes/No)?"
B. "Would you buy this product (A. definitely, B. maybe, C. definitely not)?"
C. "What would convince you to buy this product (A. lower price, B. larger packaging,
C. better taste)?"
D. "Please rate the attributes of this product that are important to you (rate 1-5, with 1
being most important and 5 being least important).
E. "Why did you buy this product?"
Answer:
Which of the following is a social trend listed in the text?
A. thrift
B. health and wellness
C. environmental legislation
D. economic concerns
E. technological advances
Answer:
The __________ stage occurs prior to meeting the customer for the first time and
extends the qualification of leads.
A. qualify leads
B. preapproach
C. closing the sale
D. follow-up
E. sales presentation
Answer:
When consumers are unable to articulate their experiences, __________ becomes
particularly useful in understanding consumers' preferences.
A. observation
B. surveying
C. in-depth interviewing
D. primary data mining
E. a focus group
Answer:
Marketers often use principles and theories from sociology and psychology to better
understand consumers' actions and to
A. develop basic strategies for dealing with their behavior.
B. contribute to the theoretical knowledge in those disciplines.
C. avoid cultural reference group problems.
D. maximize postpurchase cognitive dissonance.
E. satisfy ritual consumption needs while avoiding overconsumption.
Answer:
Jordana is buying a laptop computer to take on trips. Although she has looked at several
brands, she refuses to buy a computer that weighs more than five pounds. Jordana is
basing her decision on
A. a compensatory decision rule.
B. a noncompensatory decision rule.
C. habitual decision making.
D. social factors.
E. temporal factors.
Answer:
When Maya decided to buy a new computer, she thought about all the brands she could
recall seeing advertised, but she would consider only those brands she could buy at her
local Best Buy electronics store. This represents Maya's __________ set.
A. universal
B. retrieval
C. evoked
D. deterministic
E. behavioral
Answer:
The "Got Milk" advertising campaign, designed to increase consumption of milk, was
intended to help market a(n)
A. service.
B. firm.
C. industry.
D. organization.
E. specific product.
Answer:
When it comes to measuring consumers' price sensitivity, products are viewed as either
A. elastic or inelastic.
B. fixed or variable.
C. complementary or substitutable.
D. necessary or optional.
E. dynamic or rigid.
Answer:
What situation is occurring if a 1 percent decrease in price results in more than a 1
percent increase in quantity demand?
A. Demand is cross-price elastic.
B. Demand is price inelastic.
C. Demand is price elastic.
D. Demand maintains the status quo.
E. Demand results in the income effect.
Answer:
Steve wasn't sure what kind of salsa he wanted to get for his upcoming Super Bowl
party. It seemed like there were dozens of varieties to choose from. He noticed that he
could sample a few at a station in the store. He tried four, rejected two, and bought
several jars of the two he really liked. He also ended up buying a differentand more
expensivekind of tortilla chip after tasting it. Marketers identify this as a success story
of
A. learning.
B. decision rules.
C. social factors.
D. advertisements.
E. in-store demonstrations.
Answer:
Which of the following types of research would be considered quantitative research?
A. experimental research
B. observational research
C. focus group research
D. social media monitoring
E. in-depth interviews
Answer:
Kim's Kayak Tours initially identified active retirees living in the retirement community
nearby as one of its target markets. Kim then tailored her service and marketing
message to the interests and schedules of that audience. Kim initially used __________
segmentation and then used __________ segmentation.
A. micromarketing; loyalty
B. lifestyle; macromarketing
C. geodemographic; lifestyle
D. geographic; loyalty
E. behavioral; geodemographic
Answer:
One reason auto companies spend millions on racing cars is that they offer the
opportunity to test new designs and technology under extreme conditions. Using the
cars in a real-use setting provides an opportunity for _______ the product.
A. pretesting
B. beta testing
C. test marketing
D. alpha testing
E. concept testing
Answer:
________ is distinguished from the other generational cohorts in that the group's oldest
members are now collecting Social Security.
A. Baby Boomers
B. Generation W
C. Generation X
D. Generation Y
E. Generation Z
Answer:
When microwaves were new, they often cost over $300, were huge, and had numerous
settings and options. Brenda and Bart waited, concerned about potential health hazards
and wishing for more choices in the market. By the time they purchased a microwave,
sales of microwaves had leveled off and prices had declined significantly. Brenda and
Bart were part of the ___________ diffusion of innovation group.
A. innovator
B. laggard
C. late majority
D. early majority
E. early adopter
Answer:
In the IMC process, noise can occur as a result of lack of message clarity, a poor choice
of medium, or
A. competing messages.
B. an extended feedback loop.
C. indirect encoding.
D. inhibited decoding.
E. excessive reach.
Answer:
If a firm has demographic and purchasing information about its customers, the firm can
use data mining techniques to
A. understand psychographic motivations.
B. create marketing mixes based on consumer self-values.
C. build separate marketing programs for different demographic segments.
D. determine which syndicated data warehouse services to purchase.
E. find out which competitors its customers purchase from.
Answer:
Ellen is asked to create a vendor analysis process for a physician in private practice,
evaluating suppliers of products such as medical supplies. What should Ellen include in
a formal vendor analysis using metrics?
Answer:
A media rep from the local radio station comes into your retail store and suggests
running a series of advertisements. She says, "Let's do it and see what happens." What
problems can you anticipate with this as the suggested goal?
Answer:
Why is it dangerous for marketers to set unrealistically high consumer expectations?
Answer:
As a business-to-business marketer, would you prefer to market to a firm with an
autocratic or a consensus buying center culture, and why?
Answer:
Identify how a company that manufactures salt can use a differentiated targeting
strategy.
Answer:
Every year Pam reassesses the economic situation in the target markets her company
serves. What factors will Pam likely assess?
Answer:
With a huge influx of Hispanic consumers into his marketplace, Bill Deal, owner of
Columbia Ford Motor Dealership, wants to know if Hispanic consumers make car
purchase decisions differently from his other customers. Assuming that the information
does not already exist, which primary data collection method would you recommend
and why?
Answer:
Why is the failure rate for new products so high?
Answer:
Imagine you graduate with a marketing degree and are hired by the marketing
department of a large consumer products company. You are initially given a two-week
training program, an overview of what the marketing department does. What will your
training program cover?
Answer:
Explain the difference between the two approaches to value-based pricing methods.
Answer:
As your first assignment in an advertising agency, your manager asks you to come up
with messages for three billboards promoting the university you attended. The manager
wants one ad for each of the three types of promotion objectives. Create an example of
one sentence billboard advertising message for each objective: inform, persuade, and
remind.
Answer:
Create a positioning strategy for your school's business program. How do you want
potential students to view your program?
Answer:
How is the price elasticity for Crest toothpaste likely to be different from the price
elasticity for all toothpastes (a product category)? Why are they likely to be different?
Answer:
Your friend is writing a "how-to" book and asks you for marketing advice. You start by
exploring the four Ps. What questions will you ask? Be specific.
Answer:
Describe an example of a product placement you have recently seen, and if it was
effective.
Answer:
Briefly describe how CSR affects the various stakeholder categories.
Answer:
