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There are two types of end user purchases-capital equipment and sundries.
To create a brand identity there must be identifiable and meaningful differences among
products.
As long as all activities in the value chain are working well, managers do not need to be
concerned with aligning the activities.
Among the marketing mix variables, price is the easiest and quickest to alter, so
sometimes firms over rely on price changes to stimulate additional sales or gain market
share.
An employee who believes that he or she needs to focus on the requirements of the
person who receives his or her work has an internal customer mind-set.
Assortment is the number of product categories offered by a retailer.
A feature is the particular product/service characteristic that helps meet the customer's
needs.
Microeconomics is the study of economic activity by individuals, households and firms.
We operate in an economy that is increasingly focused on intangible offerings-services,
instead of just physical goods.
In case of marketing planning, a good channel decision can be one of the most
important decisions within the entire planning process because it leads to market
advantage over competitors.
The research problem defines exactly what information is needed to help management
make their decision.
A commission is a fixed sum of money paid at regular intervals.
The effectiveness and efficiency of promotional strategies are tracked on the basis of
price fluctuations.
Desktop computers, cell phones, and PDAs are examples of new-to-the-world products
considered _________.
A.Disruptive innovations
B.Continuous innovations
C.Sustaining innovations
D.Modifications to existing products
E.Faster versions of existing products
Disruptive innovations shift people's perspective and frequently alter their behavior by
offering dramatically simpler, more convenient, and usually less-expensive products
than those that currently exist. Desktop computers, cell phones, and PDAs are all
examples of new-to-the-world products considered disruptive.
Chris is hungry and would like to eat; eating would be considered the _____.
A.Preferred state
B.Ideal situation
C.Response
D.Ideal outcome
E.Goal
People have desires that reflect how they would like to feel or live in the present time
and this is known as a preferred state. Chris has a gap between feeling hungry and
wanting to eat. Eating is the preferred state for Chris.
The manager of an automotive after-market specialties firm is interested in collecting
secondary data. He is concerned with the future of the industry and his competition. He
would like to find industry research reports along with industry and company analyses
of his competitors. His best sources of this information would be ___________.
A.Independent online databases
B.In-depth interviews
C.Mechanical devices
D.Online focus groups
E.Sales force automation systems
Independent online databases available from government and other sources are
extremely useful tools in market research. These services, some of which are paid,
make it possible to review market research reports, industry and company analyses,
even market share information.
When consumers have too narrow an understanding of the company, brand, or product,
it is called ________.
A.Underachieving
B.Overpositioning
C.Underpositioning
D.Perplexing positioning
E.Lack of positioning
Overpositioning occurs when consumers have too narrow an understanding of the
company, product, or brand.
Unilever, a worldwide leader in consumer products, follows a brand strategy in its
personal care division with nine brands (AXE, Dove, Lifebuoy, Lux, Ponds, Rexona,
Sunsilk, Signal, and Vaseline) that operate independently of each other. This is an
example of _______.
A.Family branding
B.Store Branding
C.Stand-alone branding
D.Co-branding
E.National Branding
Stand-alone brands are created to separate the company from the brand in order to
insulate the company if there is a problem with one of its brands.
The overall layout, design and aesthetic appeal of a Web site is called
_______________.
A.Content
B.Community
C.Customization
D.Connection
E.Context
Context refers to the overall layout, design, and aesthetic appeal of a Web site.
_____ and ______ are the two categories of values.
A.Cultural, social
B.Personal, cultural
C.Religious, personal
D.Family, religious
E.Cultural, family
While some values are shared by a society like American independence, others are
personal and vary between individuals, like religious values.
Value may be defined as the ratio of bundled benefits received to the cost incurred by
the customer to receive those benefits. ____________ is NOT thought of as one of the
costs.
A.Monetary cost
B.Time to shop
C.Convenience
D.Poor service quality
E.Skill or expertise
Convenience is a benefit (and not a cost).
Vegan Videos has decided to conduct exploratory research to clarify its marketing
related research problem. They have decided that they need to collect primary data, but
they only have one week to collect this qualitative data from 10 customers and they
only have 1 researcher. They should use a(n) __________ technique to collect the data
in order to meet their deadline.
A.In-depth interview
B.Experimental
C.Questionnaire
D.Survey
E.Focus group
A focus group is a qualitative research technique which involves a meeting of 6 to 10
people, moderated by a professional, who carefully moves the conversation through a
defined agenda in an unstructured, open format. Vegan Videos can meet its deadline
using focus group.
_____________ stimulates primary demand.
A.Pioneering advertising
B.Competitive advertising
C.Institutional advertising
D.Comparative advertising
E.Sales promotion
Pioneering advertising stimulates primary demand, so it tends to be used during the
introductory and early growth stages of the PLC when it is important to gain purchase
by innovators and early adopters.
Companies like GEICO and Progressive that use online marketing and phone calls have
affected established car insurance companies like State Farm and Allstate that
traditionally write their policies through agents. This demonstrates that
__________________.
A.Everyone likes to use the Internet
B.Younger customers may value quick in-and-out transactions more than their parents
C.Different business models will always work because there will always be people who
are insecure and need to see an agent
D.When older people stop buying insurance, all insurance will be offered online only
E.Car insurance is mandatory in all states
Gen Y are much more receptive to electronic commerce than previous generations.
After a recent 141-day strike, union members at area grocery stores in California went
back to work. The union negotiated raises, better healthcare benefits, and a one-tier pay
scale. The role of the union may best be described as a(n) ________.
A.Governmental body
B.Stakeholder
C.Vendor
D.Internal customer
E.Management group
Stakeholders are anyone within or outside the firm with whom marketing interacts and
is impacted by or impacts.
Peter Drucker, the father of modern management, stated that the only definition of a
business purpose is _____________.
A.To create products
B.To make products affordable and accessible to the majority of the public
C.To improve the quality of life for all people
D.To create a customer
E.To respect the environment
According to Peter Drucker, "it is the customer who determines what a business is. For
it is the customer, and he alone, who through being willing to pay for a good or service,
converts economic resources into wealth, things into goods."
Since there are so many other companies that operate in the food services industry, the
marketing manager of Gourmet Dining pays detailed attention to other restaurants that
offer similar meals, prices and services. This focus is based on the _________ part of
external forces that affect marketing decisions.
A.Demographic
B.Competitive
C.Political/Legal
D.Technological
E.Economic
In highly competitive markets, companies are constantly adjusting their strategies to the
competition. In this example, the marketing manager would like to know as much as
possible about competitors' products and strategies so that he can adjust his own
strategies accordingly.
When a company wishes to indicate features when introducing its new product, explain
product functionality, articulate what the company and its brand stands for in order to
develop a clear image, and wishes to discuss various uses and applications for its
product, which goal of promotion is it seeking to achieve?
A.To persuade
B.To inform
C.To captivate
D.To remind
E.To manipulate
The goal to inform through promotion is served by indicating features when introducing
new products or making product modifications, explaining product functionality,
articulating what a company and its brands stand for in order to develop a clear image,
and by discussing various uses and applications for the product.
"Cotton: The fabric of our lives" is an example of industry sponsored
________________.
A.Institutional advertising
B.Ethical advertising
C.Comparative advertising
D.Competitive advertising
E.Product advertising
The goal of institutional advertising is to promote an industry, company, family of
brands, or some other issues broader than a specific product.
Companies are creating ________ that address the demands of smaller groups.
A.More specialized products
B.More generic products
C.More engineered products
D.More customized bargain goods
E.More low cost goods
One way companies manage specific customer needs is by creating specialized products
that address the demands of smaller groups.
In the buying process the "user" is characterized as __________________.
A.The actual consumer of the product
B.The actual leader of the buying group
C.The actual evaluator of the product
D.The consultant to the buying group
E.None of the above
Users are the actual consumers of the product. While typically not the decision makers,
they do have a lot of input at various stages of the process. They recognize the problem,
help define the product specifications, and provide critical feedback after the product
purchase.
What are values? Explain the different types of values.
Define customer loyalty. Customer loyalty means the degree to which an individual
will resist switching, or defecting, from one offering to another.
What are the four types of utility?
Jimmy is going to be taking over the family's manufacturing company. His father Riley
is explaining why the family company does not have its own transportation and
warehousing facilities. Why do you think Riley has made this decision?
Describe how GE holds each individual SBU accountable for its functional level plans.
What are the various issues that would be included in the Natural Environmental factors
of a marketing plan?
Whether in the B2B or B2C space, the nature of the market served affects promotion
mix decisions. Discuss the important factors.
Customers demand that some form of customer service be available 24 hours a day, 7
days a week, and 365 days a year. It would be difficult for all companies to staff a call
center constantly. What is a great way for companies to provide round the clock
customer service?
You have many shopping goods in your warehouse. You would like to move them out
of your warehouse and are researching the various distribution strategies. What strategy
would you use?
