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Multichannel marketing occurs when a single firm sets up two or more marketing
channels to reach one or more customer segments.
Answer:
Jim is planning on buying an expensive HDTV and he realizes that there are few
differences between brands. Jim is displaying complex buying behavior.
Answer:
The societal marketing concept calls on marketers to balance consumer wants and
desires, company profits, and society's interests.
Answer:
Unsought products are products that the customer usually buys frequently, immediately,
and with a minimum of comparison and buying effort.
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A brand personality is the specific mix of human traits that may be attributed to a
particular brand.
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A neighborhood shopping center has from 50 to more than 100 stores.
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To the extent that a company can differentiate and position itself as providing superior
customer value, it gains competitive advantage.
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The newer the buying task, and the more complex and costly the item, the lesser the
amount of time the buyer will spend searching for suppliers.
Answer:
Ed purchased electronic devices such as a smartphone, and tablet after many people he
knew already owned the devices. Ed belongs to the adopter group called lagging
adopters.
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A brief glimpse of the latest LG phone on the television series Modern Family is an
example of an advertainment.
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Secondary beliefs and values are less open to change than core beliefs and values.
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A cell phone maker customized its cell phones for the Asian market by raising the ring
volume so that phones could be heard on crowded streets. This is an example of product
invention.
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Retailers first must position themselves in a market and then decide how they will
define the target customers in these markets.
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A company's Web site can be an important public relations vehicle.
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Advertising is the least used of the major promotion tools, although it has great
potential for building consumer awareness and reference.
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Decoding is the process by which a sender puts his or her thoughts into a symbolic
form.
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According to Maslow's hierarchy of needs theory, when the most important need is
satisfied, it will cease to be a motivator, and the person will then try to satisfy the next
most important need.
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The message execution style of personality symbol involves identifying and presenting
ordinary people saying how much they like a product.
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In segmented pricing, the difference in prices is based on differences in costs.
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Co-branding occurs when retailers and wholesalers create their own store brands.
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Companies with multiple products or businesses typically choose one marketing
strategy for all their different businesses or products.
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Sales force management refers to hiring and training the sales force.
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Under the strategy of intensive distribution, the producer gives only a limited number of
dealers the exclusive right to distribute its products in their territories.
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Widespread adoption of the euro has decreased much of the currency risk associated
with doing business in Europe, making member countries with previously weak
currencies more attractive markets.
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Most companies tend to compete with distant competitors that are typically unlike
them, rather than with close competitors.
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Demographic segmentation divides buyers into segments based on their knowledge,
attitudes, uses, or responses concerning a product.
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The single most important demographic trend in the United States that marketers should
understand is the changing family structure of the population.
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Price discrimination is permissible if the seller manufactures different qualities of the
same product for different retailers and can prove that the price difference is
proportional.
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The business marketer normally deals with far fewer but far larger buyers than the
consumer marketer does.
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Operating control involves checking ongoing performance against the annual plan and
taking corrective action when necessary.
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Using value-based pricing, a marketer would not design a product and marketing
program before setting the price.
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Product refers to the goods-and-services combination that a company offers to its target
market.
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Full-service stores usually carry more specialty goods for which customers need or
want assistance or advice.
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Two of the characteristics that are especially important in influencing an innovation's
rate of adoption are relative advantage and compatibility.
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During the prospecting step of the selling process, the salesperson meets the customer
for the first time.
Answer:
Millennials represent a larger demographic segment than the baby boomers or Gen
Xers.
Answer:
Because of ________, a company cannot make its product illegally similar to a
competitor's already established product.
A) anti-monopoly laws
B) patent laws
C) the Consumer Product Safety Act
D) product warranties
E) product liability
Answer:
AskKarl.com is a local search engine Web site that exclusively caters to people in New
England. When users search for information, text-based ads related to the search appear
alongside the search results. Which of the following is illustrated from this example?
A) contextual advertising
B) pixel advertising
C) digital catalog
D) kiosk marketing
E) podcasts
Answer:
Marketers can expand markets by discovering and promoting ________.
A) subliminal points of interest
B) the deficiencies of competitors
C) subtle advantages of the product
D) new uses of the product
E) green technologies
Answer:
Which of the following is true of shipping goods via water transportation?
A) Water transportation is an efficient way to ship perishable merchandise over long
distances.
B) Water carriers are highly flexible in their routing and time schedules.
C) Water transportation provides in-transit services, such as the processing of goods en
route.
D) Water transportation is ideal when time is short and speed is needed.
E) Water transportation is the slowest mode of transportation and the most affected by
the weather.
Answer:
________ are ambassadors who share their passion for a company's products with large
circles of friends and acquaintances in return for insider knowledge and other rewards.
A) Leading adopters
B) Brand evangelists
C) Surrogate consumers
D) Market mavens
E) Innovators
Answer:
Members of the buying center at Kid's World, a store for children's clothing, are
drawing up a list of desired supplier attributes and their relative importance. Next, they
intend to compare several suppliers' proposals to these attributes. In which step of the
business buying process is the buying center at Kid's World involved in?
A) general needs description
B) proposal solicitation
C) supplier selection
D) order-routine specification
E) performance review
Answer:
Refer to the scenario below to answer the following question(s).
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a
popular family attraction with 20 rides, a restaurant, and an outdoor performing arts
theater.
"My wife, Gail, and I didn't know what we were getting into," commented Ron Hart,
the owner. "We just knew that weekenders coming to the lakes in our rural area
represented an untapped market."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even
senior citizens who enjoy strolling through the gardens and the arbors. "There's
something here for everyone," Gail Hart said with a smile. "Dozens of companies hold
annual company picnics here. We have welcomed class field trips. And we even had
one wedding here at the park!"
"Here's the funny thing," Ron chimed in. "We really don't know why we've been so
successful. There is nothing else like Fun-Spot Fun Park in the area. We were just
lucky." "I think it's the ambience of the park that has brought so many visitors," Gail
added. "We provide a 'total package' of entertainment. Plus, we try to change our rides
and various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has
always been our philosophy," they said. "Like the park's motto at the entrance reads,
'We're here to make you happy!' And we've always been able to deliver on that because
we've never allowed ourselves to grow too big too quickly."
Which of the following would be classified as an opportunity in a SWOT analysis of
Fun-Spot?
A) A rival amusement park announces plans to open three new rides next season.
B) A new luxury hotel is being constructed in the area, with the aim of attracting more
high-spending families on vacation.
C) Ron and Gail have paid off the mortgage on Fun-Spot, significantly reducing their
monthly expenses.
D) Fun-Spot employees tend to be enthusiastic and young, projecting an image of fun
and vitality.
E) Fun-Spot plans to further diversify its offerings by beginning a two-week summer
camp for elementary school students.
Answer:
Among the generational groups in U.S population, the ________ are still the wealthiest
generation in U.S. history.
A) baby boomers
B) Generation Xers
C) Millennials
D) echo boomers
E) Silent Generation
Answer:
Generally, the consumer's purchase decision will be to buy the most preferred brand,
but two factors can come between the purchase intention and the purchase decision.
Which of the following is one of these factors?
A) economic risks
B) attitudes of others
C) cognitive dissonance
D) alternative evaluation
E) buyer's remorse
Answer:
Eric Mason, an employee of Huntington Steelworks, is responsible for defining product
specifications and providing relevant information for evaluating alternatives in his
organization's buying center. Eric, whose opinions affect the buying decisions of his
organization to a great extent, is most likely a(n) ________.
A) user
B) influencer
C) decider
D) gatekeeper
E) buyer
Answer:
Through ________, an organization in the foreign market buys the right to use a
company's manufacturing process, trademark, patent, trade secret, or other item of
value.
A) indirect exporting
B) licensing
C) contract manufacturing
D) management contracting
E) joint ownership
Answer:
Atlas Imports and Exports sells products directly to consumers via the Atlas Web site,
and through local retailers as well. Which of the following is evident here?
A) corporate vertical marketing system
B) horizontal marketing system
C) multichannel distribution system
D) administered vertical marketing system
E) conventional distribution channel
Answer:
An integrated social marketing campaign likely could include all of the following
except ________.
A) Facebook pages
B) Twitter postings
C) Instagram photos
D) iTunes podcasts
E) YouTube videos
Answer:
Which of the following is an off-price retailer that sells a limited selection of
brand-name grocery items, appliances, clothing, and other goods at deep discounts to
members who pay annual membership fees?
A) warehouse club
B) service retailer
C) convenience store
D) hypermarket
E) superstore
Answer:
Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions,
and districts. Ravenshaw Corp. is most likely an example of a ________.
A) geographic organization
B) product organization
C) functional organization
D) niche marketer
E) mass marketer
Answer:
Costco's Kirkland Signature products are an example of a ________.
A) national brand
B) support brand
C) private brand
D) generic brand
E) manufacturer's brand
Answer:
Which of the following is an example of an indirect marketing channel?
A) June Bride, which sells bridal gowns via its click-to-order online catalogs
B) Farmer Brown, who delivers fresh milk from his dairy to customers every morning
C) Wine & Dine, which sells its picnic baskets to select novelty stores across the
country
D) Lifebelt Insurance, which sells life insurance through its door-to-door salespeople
E) Rhonda's Rental, which rents cars to people for the day
Answer:
It is most accurate to say that the recession of 2008/2009 has resulted in ________.
A) an overselling of private goods
B) a disbelief in the American dream
C) a decline in conspicuous spending
D) an increase in materialism
E) the elimination of false wants
Answer:
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services
by an identified sponsor is called ________.
A) sales promotion
B) advertising
C) direct marketing
D) personal selling
E) public relations
Answer:
The objective of causal research is to ________.
A) test hypotheses about cause-and-effect relationships
B) gather preliminary information that will help suggest hypotheses
C) describe things, such as the market potential for a product
D) assign a cause to a seemingly random event
E) predict the effect of a random event on unrelated entities
Answer:
Refer to the scenario below to answer the following question(s).
Selman & Saks, a maker of men's and women's razors and electric hair trimmers, had
little reason to become involved in the global arena. But after acquiring Wellman
Enterprises, whose largest division engages in a licensing agreement with a German
firm to produce women's hosiery, managers at Selman & Saks wondered whether a
company-wide global focus would be more profitable after all.
Managers at Selman & Saks studied Wellman's licensing agreement in great detail.
Even after seeing the benefits Wellman achieved with the licensing agreement,
managers decided that Selman & Saks would target the French market merely via
exporting.
With the assistance of a domestic export department, Selman & Saks razors and hair
trimmers entered France. For six months, sales were mediocre. But after that, sales
suffered. Opinions varied among numerous managers as to the cause of the failure.
"Who knows the local market better than people who live there?" was a comment heard
throughout Selman & Saks. "Maybe we needed an alliance with a French firm, or a
licensing agreement, before racing to get there."
What did Selman & Saks hope to gain by entering the French market?
A) access to new consumer markets
B) access to less expensive labor
C) access to less expensive materials
D) access to foreign investment incentives
E) the ability to offset domestic economic cycles
Answer:
When selecting a media vehicle, the media planner looks both at the total cost of using
a medium and at the ________.
A) cost per thousand persons reached
B) cost of premium offers
C) cost of the magazine it is using
D) profit margin
E) continuity cost
Answer:
Managers at the Imperial Hotel-Chicago complained that the chain's overall image was
hurt because Imperial Hotel-Dallas was overcharging guests and providing poor
service. The Imperial Hotel was experiencing ________ conflict.
A) equilateral
B) vertical
C) multitiered
D) communal
E) horizontal
Answer:
When order requests come in, the designers of Titus Furniture often go to a client's
location to note their requirements, budget, and expected date of delivery. In this way,
Titus Furniture is successful in tailor-making products for its customers. This is an
example of ________.
A) market diversification
B) undifferentiated marketing
C) mass customization
D) differentiated marketing
E) trigger-based marketing
Answer:
Dan's Drugstore sells medicine to consumers for $20 that only cost $2 to produce.
Critics accuse Dan's of ________.
A) deceptive promotion
B) deceptive packaging
C) false advertising
D) excessive markups
E) redlining
Answer:
Which of the following helps companies in setting sales force size?
A) workload approach
B) pull strategy
C) push strategy
D) top-down approach
E) bottom-up approach
Answer:
Which of the following companies uses product bundle pricing?
A) Photo Genie, which sells inexpensive cameras that run only on their own, expensive,
batteries
B) Tune Zone, which launched a range of mp3 player models, each priced according to
its features
C) Penguin's Parlor, which offers customers a 20 percent discount on their birthdays
D) Green Thumb, which gives away free watering cans with the purchase of certain
potted plants
E) Panizza, whose combo meals are priced lower than its individual components sold
together
Answer:
A pharmaceutical company in Utah recently released a new and expensive anti-ulcer
drug in the market. The company justifies the high price of the drug by claiming that it
is highly effective for treating all kinds of ulcers. The company also claims that the new
drug will help bring down the need for invasive surgeries, an additional benefit for
patients. Which of the following pricing strategies is the pharmaceutical company most
likely using in this instance?
A) target pricing
B) markup pricing
C) cost-based pricing
D) value-based pricing
E) break-even pricing
Answer:
Which of the following statements is true of the selling concept?
A) It requires minimum promotion efforts.
B) It creates long-term, profitable customer relationships.
C) It takes an outside-in perspective.
D) It is typically practiced with unsought goods.
E) It follows the customer-centered sense-and-respond philosophy.
Answer:
Which of the following questions is most important for product designers to consider
while developing a product?
A) Which specific features of the product do customers like most?
B) How does the product appear to buyers?
C) What are the product's technical specifications?
D) How would customers use and benefit from the product?
E) How can the product be packaged to stimulate instant purchase?
Answer:
Today, several companies are adopting the concept of ________, which carefully
combines and coordinates the company's many communication channels to deliver a
clear, consistent, and compelling message about the organization and its brands.
A) integrated marketing communications
B) pull strategy
C) vertical diversification
D) nonpersonal communication channels
E) buzz marketing
Answer:
Gainville Inc. manufactures Android phones. Each new Gainville phone launch
advances the cause of democratizing technology. Gainville, an expert in fostering
customer community, engages customers at a deep, emotional level, and has been
ranked one of the Breakaway Brands by the brand consultancy Kendell Associates.
Gainville is most likely positioned on ________.
A) basic product attributes
B) short-term benefits
C) service variability
D) self-image enhancement
E) strong beliefs and values
Answer:
Discuss the major influences on business buyers.
Answer:
What is experimental research and when is it used?
Answer:
What is supplier development?
Answer:
Briefly describe how economic conditions impact a firm's pricing strategies.
Answer:
What are the various issues that are covered under environmentalism?
Answer:
What is observational research and when is it used?
Answer:
Compare and contrast the advantages and disadvantages of standardized global
marketing and adapted global marketing.
Answer:
Explain how a market follower can gain advantage from a market leader.
Answer:
In the communication process, what is noise and what is its significance?
Answer:
Outline the steps in developing effective marketing communications.
Answer:
Explain the four major steps in designing a customer-driven marketing strategy.
Answer:
What is a marketing strategy? How do marketing strategies help firms?
Answer:
Identify the social costs of increased automobile ownership, and then describe two
options for restoring the balance between private and public goods. Give specific
examples.
Answer:
Under what conditions is a company most likely to use a product sales force structure?
Answer:
Briefly describe occasion segmentation.
Answer:
How has the direct marketing industry taken steps to address privacy and security
concerns?
Answer:
Describe a scenario that shows why a company may want to avoid "destroying" a close
competitor.
Answer:
Why might salespeople use high-pressure selling tactics that do not lead to long-term
relationships with customers?
Answer:
Discuss the affordable method of setting the total budget for advertising.
Answer:
List four types of discounts.
Answer:
