The use of media may require international adaptation because media availability varies
from country to country.
Perceived value refers to the gap between actual needs and satisfied needs of a
customer.
One of the advantages of having a strong brand is the ability to have a more elastic
consumer response to price decreases of the brand.
Growth strategies are “either/or” propositions; a focus on core businesses means
foregoing new market opportunities.
The redemption rate for paper coupons (10 percent) far exceeds that of mobile coupons
(1 percent).
Vancouver, Canada’s Fortuna Silver Mines has focused on its two fully owned, fully
integrated silver mines in Peru and Mexico to spur organic growth while looking for a
third mine to drive further growth because the existing mines are not expandable.
A marketing audit only benefits a company that is in trouble; companies in good health
do not need to conduct them.
A salesperson calling on supermarkets to take repeat orders is called an order taker.
The product strategy during the maturity stage of the product life cycle should be to
build more intensive distribution.
Advertising is the most important element in business marketing.
A seller who is at a disadvantage has two alternatives: decrease total customer benefit
or increase total customer cost.
In the buying center, several people can occupy a given role such as user or influencer,
and one person may play multiple roles.
The problem with setting a uniform global price for a product is that ________.
A) it allows intermediaries in low-price countries to reship their products to high-price
countries
B) the company would earn the same profits everywhere, regardless of the cost
structure
C) this strategy can price the product out of the market in countries where costs are high
D) this strategy makes the price too high in poor countries and not high enough in rich
countries
E) it is ineffective for products that are homogeneous
Which of the following is true for customer-perceived value?
A) It is the perceived monetary value of the bundle of economic, functional, and
psychological benefits customers expect from a product.
B) It is the difference between the prospective customer’s evaluation of all the benefits
and all the costs of an offering and the perceived alternatives.
C) It is the perceived bundle of costs customers expect to incur in evaluating, obtaining,
using, and disposing of the given market offering.
D) It is the net present value of the stream of future profits expected over the customer’s
lifetime purchases.
E) It is the process of investigating the hierarchy of attributes consumers examine in
choosing a brand if they use phased decision strategies.
One of the measures of online word of mouth at DuPont was the effort’s ________, or
whether it was not a one-shot deal.
A) authority
B) sentiment
C) relevance
D) scale
E) sustainability
People vary in their views of society and their consumption patterns often reflect their
social attitudes. ________ are a major market for movies, music, surfing, and camping.
A) Makers
B) Preservers
C) Escapers
D) Changers
E) Developers
During ________ testing, the company’s technical people observe how customers use
the product, a practice that often exposes unanticipated problems of safety and servicing
and alerts the company to customer training and servicing requirements.
A) beta
B) research
C) sales-wave
D) alpha
E) simulated
Gordron Inc. manufactures and markets medical equipment. To ensure that its
salespeople are knowledgeable enough to answer all product queries, the company hires
only those individuals who have a good understanding of both the medical profession
and the mechanics of the equipment used. Which of the following is the most accurate
classification of Gordron’s salesforce?
A) technicians
B) demand creators
C) deliverers
D) order takers
E) missionaries
Which of the following tools or combinations of tools is most influential at the
comprehension stage of buyer readiness?
A) sales promotion and advertising
B) advertising and personal selling
C) publicity and personal selling
D) reminder advertising and publicity
E) sales promotion and personal selling
Which of the following is NOT true regarding impressions?
A) They are useful for tracking the scope of a communication.
B) They are useful for tracking the breadth of a communication’s reach.
C) They can be compared across all communication types.
D) They represent a less active response than engagement.
E) They provide insight into the results of viewing the communication.
Which of the following media timing factors expresses the rate at which new customers
enter the market?
A) buyer turnover
B) purchase frequency
C) media reach
D) weighted number of exposures
E) advertising impressions
Praxair Limited is a supplier of synthetic graphite to a number of electrode
manufacturers in the United States. Its customers have shifted their ordering
responsibilities to Praxair and the company regularly monitors its customers’ inventory
levels and has taken responsibility for replenishing the supplies automatically through
continuous replenishment programs. Which of the following systems do Praxair and its
customers follow with respect to order-routine specification?
A) Supplier Added Value Effort ($AVE)
B) Vendor Managed Inventory (VMI)
C) Direct Concentrated Buying (DCB)
D) Supplier Performance Management (SPM)
E) Product Value Analysis (PVA)
A ________ is a conservative estimate of the expected volume of sales for a business,
primarily for making purchasing, production, and cash flow decisions.
A) sales budget
B) company sales forecast
C) sales quota
D) company sales potential
E) market potential
The type of buyer-supplier relationship in which buyers and sellers make many
relationship-specific adaptations, but without necessarily achieving strong trust or
cooperation, is referred to as ________.
A) the customer is king
B) mutually adaptive
C) collaborative
D) contractual transaction
E) customer supply
We define packaging as all the activities of designing and producing the container for a
product. This includes up to three levels of material: primary package, secondary
package, and ________ package.
A) retailer
B) design
C) shipping
D) consumer
E) supplier
________ refers to the process in which information gets out of memory.
A) Memory encoding
B) Memory decoding
C) Memory classification
D) Memory retrieval
E) Memorization
________ Americans, the second-largest Asian population in the United States, is
generally affluent, well-educated, and attractive to marketers.
A) Korean
B) Japanese
C) Chinese
D) Filipino
E) Indian
Identify the pros and cons of using behavioral targeting for marketing.
There are several major segmentation variables that might be used by a marketer to
address a consumer market. If the marketer were to use the social class, psychographic
lifestyle, and readiness stage to segment its market, identify possible segmentation
subcategories under each of the three.
Describe the function of brand-tracking studies.
In your position as a marketing manager for a small industrial company, you have been
asked by the president to help differentiate the company’s product from its competitors.
In reviewing your marketing management notes, you note that the text stated that
physical products could be differentiated in nine ways. These nine areas comprise the
“meat” of the memo you are writing to the president of your firm. What are the nine
ways that physical products can be differentiated?
If you were asked to develop a mobile defense for your products that are likely to come
under attack from a market challenger, what would you suggest?
Suppose Canon and Nikon are the only players in the digital camera industry. What can
Canon do to acquire marketing intelligence?
What is integrated marketing communications? What is its significance in the current
marketing environment?
The Norticon Group provides and manages computers and network systems for
businesses and communities. Norticon sells its products through various means. It uses
its sales force to sell to large customers and telemarketing to sell to smaller customers.
The company also sells its products via the Internet. Briefly explain the marketing
approach being used by the company.