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The buying process starts when the buyer decides to, or enters, a store or service
provider's facility.
Permission marketing presumes that consumers know what they want.
The market leader should look for new customers or more usage from existing
customers.
The most attractive segment is one in which entry barriers are low and exit barriers are
high.
Interactive marketing describes the employees' skill in serving the client.
A good positioning should contain points-of-difference and points-of-parity that have
rational but not emotional components.
When consumers share a strong need that cannot be satisfied by an existing product,
they are exhibiting latent demand.
Each of the following is true about the Internet's impact on the way business is
conducted today, EXCEPT one. Identify the exception.
A) It has facilitated high-speed communication among employees.
B) It has empowered consumers with easy access to information.
C) It can be used as a powerful sales channel.
D) It has facilitated mass marketing but not the sale of customized products.
E) It enables marketers to use social media to advertise their products.
A flight with complementary drinks is an example of a ________.
A) major service with accompanying minor goods and services
B) pure service
C) pure tangible good
D) tangible good with accompanying services
E) hybrid
OrdOnline, a pure click company offering online auctioning, decides to launch a
promotional program to increase its sales. The company identifies customers who have
made at least three purchases and spent at least $150 in the past six months and offers
discount coupons to these customers. Which of the following strategies is used here for
targeting customers?
A) viral marketing
B) objective screening
C) internal targeting
D) catalog marketing
E) RFM formula targeting
How much of the sales performance gap is due to price decline?
A) 0.4 percent
B) 2.5 percent
C) 28.5 percent
D) 37 percent
E) 71.4 percent
To keep their strategic alliances thriving, corporations have begun to develop
organizational structures to support them and have come to view the ability to form and
manage strategic alliances as core skills. This is called ________.
A) value managed partnership
B) decentralized partnership
C) centralized partnership
D) partner relationship management
E) intensive growth management
A ________ divides the innovation process into stages with a checkpoint at the end of
each stage.
A) reverse assumption analysis technique
B) skunkworks system
C) stage-gate system
D) spiral development process
E) new-product department technique
The ________ lays out the target markets and the value proposition that will be offered,
based on an analysis of the best market opportunities.
A) organizational plan
B) strategic marketing plan
C) corporate tactical plan
D) corporate mission
E) customer-value statement
Which of the following is an example of a distribution metric used for measuring the
performance of marketing plans?
A) effective reach
B) customer acquisition costs
C) market share
D) stocks cover in days
E) response rate
________ questions allow respondents to answer in their own words and often reveal
more about how people think.
A) Open-end
B) Dichotomous
C) Likert scale
D) Multiple choice
E) Semantic differential
One opportunity for designing a cause program so the sponsoring company is not
overlooked among other corporate sponsors is to support a(n) ________, or a disease
that afflicts fewer than 200,000 people.
A) orphan cause
B) overlooked calamity
C) behavioral campaign
D) social marketing plan
E) value campaign
By equipping its sales force with handheld devices with barcode readers and Internet
connections to speed inventory assessment, TaylorMade allows sales executives to have
significantly more time to interact with their consumers. This is an example of the use
of technology in improving ________.
A) sales information systems
B) payroll systems
C) cookies
D) cohort segmentation
E) competitive intelligence gathering
Which of the following is the most constructive response a market leader can make
when defending its market share?
A) maintain basic cost control
B) innovate continuously
C) provide desired benefits
D) meet challengers with a swift response
E) provide expected benefits
________ refers to the ability to meet humanity's needs without harming future
generations.
A) Greenwashing
B) Sustainability
C) Ecological footprinting
D) Scalability
E) Legal practice
In which of the following does a customer respond to the technical quality of a service?
A) Sara's preferred hair stylist is some miles away, but Sara goes to him because his
styles suit her looks.
B) Kathy tries out a new restaurant every week because she likes to experience the
variety.
C) Bill has gone to the same chiropractor for the past fifteen years because he is
friendly and takes the time to listen to Bill.
D) Ray avoids going to the bank as far as possible because the manager is rude and
unhelpful.
E) Alex has no interest in theater, but goes often because her best friend loves plays.
Identify a shortcoming of giving the responsibility to develop new products to the
product managers of a company.
A) They would not be familiar with the industry standards.
B) Product managers would not have an operational focus.
C) Product managers are often busy managing existing lines.
D) They will find it difficult to gain support from employees.
E) Product managers are less likely to use participative management.
Marketers who target consumers on the basis of their ________ believe that they can
influence purchase behavior by appealing to people's inner selves.
A) time famine
B) sophistication
C) money constrain
D) social class
E) core values
Consulting on problems, rendering technical assistance, arranging financing, and
expediting delivery are examples of the ________ task in the selling context.
A) information gathering
B) targeting
C) communicating
D) servicing
E) allocating
A ________ has three characteristics: (1) a source of competitive advantage making a
significant contribution to perceived customer benefits; (2) has applications in a wide
variety of markets; and (3) is difficult to imitate.
A) core competency
B) market sensing process
C) corporate social responsibility effort
D) strategic business unit
E) philanthropic endeavor
Price-setting logic must be modified when the product is part of a product mix. In that
case, the firm searches for a set of prices that ________ profits on the total mix.
A) is ineffective on total
B) has no effect on total
C) maximizes
D) minimizes
E) capitalizes upon
E&OE is trying to minimize its inventory costs, which are extremely high. The
company has realized that it can achieve this by maintaining a near-zero inventory and
producing more products only once it is ordered. Which of the following is true for
E&OE?
A) Inventory costs are lower than order-processing costs.
B) Running costs are higher than inventory-carrying costs.
C) Setup costs for the products are low.
D) Order-processing costs are high.
E) Order-processing costs are lower than setup costs.
________ involves studying "best practice companies" to improve performance.
A) Empowering
B) Globalizing
C) Flattening
D) Benchmarking
E) Focusing
Marketers typically focus on brand ________ in choosing the points-of-parity and
points-of-difference
that make up their brand positioning.
A) equity
B) awareness
C) benefits
D) architecture
E) extensions
Which of the following best describes a car company's value proposition?
A) We charge a 20 percent premium on our cars.
B) We target safety-conscious upscale families.
C) We sell the safest, most durable wagon.
D) We are the market leader in the small car category.
E) We focus on expanding in faster-growing markets.
Sweet Treats is a startup confectionery manufacturer that sells chocolates, toffees,
marshmallows, jelly candies, and so on. Should the firm adopt a push or a pull strategy?
Explain your answer.
What is concept testing? What is its importance? Explain two modern techniques used
for concept testing.
With the help of an example, explain straddle positioning.
Kellogg's uses its corporate brand name with its individual product brands as with
Kellogg's rice krispies, Kellogg's raisin bran, and Kellogg's corn flakes. Which branding
strategy is being used by the company?
A manufacturer is contemplating introducing a product that is inferior to its competition
in its performance, design, and functionality. However, the manufacturer believes that
"good brand marketing" can overcome these shortfalls. Why is this thinking incorrect?
What is the full-cost approach of evaluating a marketing entity's performance?
