Buzz, or word-of-mouth communication, is the communication generated about a brand
in the marketplace.
The challenge for the new product development team is to design and build a product
the customer wants to buy while hitting the company’s success metrics–sales price,
revenue, profit margins, unit sales, and cost to build.
Users in the B2B buying process have enhanced responsibilities in new purchase and
modified re-buy situations when product specifications are being set for the purchase
decision.
Occupation segmentation is very closely related to income segmentation although the
two are not perfectly correlated.
Odd pricing means that the price is relatively higher than the competition.
A stock keeping unit (SKU) is a unique identification number used to track a product in
the consumer’s home.
An individual watching the American Idol TV show will react differently whether
watching the show alone or at a party with friends.
Secondary data was collected for some other purpose than the problem currently being
considered, but has relevance to the current problem.
Cutting out intermediaries is always a guarantee of saving consumers’ money.
For many marketing managers, segmentation by benefit sought is the best place to start
the process of market segmentation.
Antivirus software from Norton, McAfee, as well as Windows enables users to block
Interstitials.
A major problem for most managers today is not having enough information.
With reference to the VALS¢ framework, the primary motivation for thinkers is
self-expression.
Push and pull strategies are rarely used mutually exclusively.
The marketing manager for Brand K retail stores is in the process of collecting primary
data from customers to learn which current products need improvement. She is using a
probability sampling method, but is having trouble figuring out how to contact
customers and get them to participate. She is also debating alternative ways to recode
the responses so that they can be analyzed. She is concerned with the _______ part of
the marketing research process.
A.Problem definition
B.Research design
C.Data collection
D.Data analysis
E.Reporting
Data collection involves access and distribution of the survey to the respondent then
recording the respondent’s responses and making the data available for analysis. In this
example, the manager is concerned about the data collection part dealing with
contacting the customers and alternative ways of recoding their responses.
An analysis of a new product idea during the screening stage often includes an internal
assessment by ________.
A.Finance, marketing, R&D, manufacturing, and logistics
B.The ethics committee for new products
C.The product line coordinator for the area the new product is going to be located
D.The new product development coach hired to coach the process for getting the new
product to market
E.All of the above
These groups-finance, marketing, R&D manufacturing and logistics-are all required in
a new product evaluation process.
Which of the following is true about demographic segmentation?
A.Social class is one of the variables used for demographic segmentation
B.Demographic segmentation leads to VALS¢ types
C.Age is not a factor used in demographic segmentation
D.Personality is a demographic segmentation variable
E.All of the above are true
Social class segmentation involves grouping consumers by a standardized set of social
strata around the familiar lower class, middle class, and upper class. It is one of the
variables used for demographic segmentation.
The most common method to determine the correct size of a sales force is the
__________ method.
A.Geographic orientation
B.Product organization
C.Customer type
D.Market organization
E.Work load
The most common method used to determine the correct sales force size is called the
workload method. It is based on the premise that all salespeople should undertake an
equal amount of work.
The marketing manager of Store Brand Pain Reliever is designing the packaging for
their new gel coated capsules. Her main concerns are to design a package that prevents
tampering on the shelf and keeps children from accessing the product without adult
assistance. She is focusing on the ______ objective of packaging.
A.Protection
B.Aesthetic
C.Communication
D.Harmony
E.Usage Promotion
The package must protect the product and protect the customers from unauthorized
access to the product. Since the manager wants to design a package that protects the
product and keeps children from accessing the product, she is concerned with the
protection aspect of packaging.
KFC is very protective of its “Seven Herbs and Spices” recipe. This intellectual
property gives them a significant competitive advantage over other chicken restaurants,
and the company will use any legal resource available to protect its patented formula.
This is an example of the _____ dimension of brand equity.
A.Brand Assets
B.Brand Association
C.Brand Awareness
D.Brand Loyalty
E.Perceived Quality
Brands possess assets such as trademarks and patents that represent a significant
competitive advantage. Since KFC has patented its “Seven Herbs and Spices” recipe, it
becomes a brand asset of KFC.
___________ is not a source of channel power.
A.Reward power
B.Referent power
C.Legitimate power
D.Consumer power
E.Expert power
Five important sources of power that are relevant in a channel setting are reward power,
referent power, legitimate power, expert power, and coercive power. Consumer power is
not a source of channel power.
Alignment of all internal organizational processes and systems around the customer is
associated with which of the following?
A.Marketing (little m)
B.Tactical marketing
C.Functional marketing
D.Metric marketing
E.Marketing (Big M)
For successful Marketing (Big M), all internal organizational processes and systems
must be aligned around the customer.
______________ are small boxes containing graphics and text and have a hyperlink
embedded in them.
A.Sponsorships
B.Banner ads
C.Blogs
D.Interstitials
E.Search related ads
Banner ads are small boxes containing graphics and text and have a hyperlink
embedded in them. Clicking on a banner ad will take you to the company’s Web site.
The marketing manager for Dream Weaver Textiles reads in a trade magazine that the
Federal Trade Commission is in the process of revising content labeling requirements
for textiles that claim to be natural. This represents the _________ part of external
forces that affect marketing decisions.
A.Economic
B.Demographic
C.Technological
D.Political/Legal
E.Competitive
Various government agencies monitor business activity with the help of several laws
and regulations. Political judgments and, more broadly, the legal environment
significantly affect company decisions and sometimes an entire industry.
For start-up companies, the main reason for failure of new products is _________.
A.Lack of technology
B.Lack of capital
C.Lack of innovative ideas
D.Lack of access to distribution markets
E.Competitive pressure
Lack of capital is a persistent problem for start up companies.
List and define the three goals of promotion. What types of product would best fit each?
Soleil and her husband Andrew have purchased their first home. Describe three possible
purchases from each of the four categories of consumer goods that they may need to
make.
Bailey has been running a personalized embroidery business and has been having
significant problems recently. She has been sending out more of an item than the
customer asked for, or sending out the wrong colors, names, etc. Which point in the
supply chain is Bailey having problems with?
Define value proposition.
What are opinion leaders and market mavens and how do they influence the purchase
decision?
In primary data collection one important decision is determining the information
content. Why is this so important and what considerations should be taken during this
part of the process?
Describe the four stages of the CRM process cycle. What occurs in each stage?
Describe the marketing planning phase of the CRM process cycle.
Why are employees of a firm potentially its best and most trusted brand and message
ambassadors and give an example of a company that puts this to good use?