A target market consists of a set of buyers who share common needs or characteristics
that the company decides to serve.
A seasonal discount is a price reduction to buyers who buy merchandise while the
products are in season.
Integrated marketing communications calls for recognizing all touchpoints where the
customer may encounter the company and its brands.
The aim of advertainment is to make ads so entertaining or useful that people want to
watch them.
Downstream marketing channel partners, such as wholesalers and retailers, form a vital
link between the firm and its customers.
Reach is a measure of how many times the average person in the target market is
exposed to the message.
The real value of marketing research lies in the customer insights that it provides.
When a company chooses what principle to follow on issues of ethics and social
responsibility, there are two common philosophies to use as guides: let the free market
and legal system decide or let individual managers and companies choose.
For international researchers, language is a primary obstacle.
Recently, the increased use of online social networks and video sharing has reduced the
need for advertising standardization with global brands.
As more developed markets stagnate and become increasingly competitive, many
marketers are now targeting growth opportunities in emerging markets.
The Internet is making global price differences more obvious, forcing companies
toward more standardized international pricing.
A(n) ________ economy is rich in one or more natural resources but poor in other ways
and much of its revenue comes from exporting its natural resources.
A) industrial
B) industrializing
C) raw material exporting
D) subsistence
E) agrarian
Lower costs in the form of cheaper labor or raw materials, foreign government
investment incentives, freight savings, and the opportunity to improve the company
image are the factors that would most likely lead a company to enter a foreign market
using the market entry strategy of ________.
A) direct exporting
B) licensing
C) management contracting
D) indirect exporting
E) direct investment
Which of the following refers to a behavioral segmentation variable that involves
segmenting markets into nonusers, ex-users, potential users, first-time users, and
regular users of a product?
A) user status
B) usage rates
C) gender status
D) income status
E) loyalty status
________ means adjusting the marketing strategy and mix elements to each
international target market.
A) Standardized global marketing
B) Ambush marketing
C) Adapted global marketing
D) Mass marketing
E) Whole channel viewing
Which of the following is true of the BCG matrix approach?
A) It is inexpensive to implement.
B) It does not have any limitations.
C) It considers market growth rate to be a measure of market attractiveness.
D) It describes consumer motivations and needs.
E) It does not consider relative market share to be a measure of company strength in the
market.
The societal marketing concept seeks to establish a balance between ________.
A) customer lifetime value and customer equity
B) an inside-out perspective and an outside-in perspective
C) consumer short-run wants and consumer long-run welfare
D) marketing mixes and market offerings
E) customer-driven marketing and customer-driving marketing
The pharmaceuticals division of Omni Healthcare holds low market share in a
high-growth market. According to the BCG matrix, the pharmaceuticals division of
Omni can be classified as a ________.
A) star
B) bear
C) question mark
D) cash cow
E) dog
Which of the following best characterizes the decline stage of product development?
A) rapid market acceptance
B) slow sales growth
C) sales and profits decline
D) high investment costs
E) increasing profits
Which of the following wholesaler’s channel functions is demonstrated when a
wholesaler’s sales force helps a manufacturer to reach many small customers at a low
cost?
A) bulk-breaking
B) selling and promoting
C) buying and assortment building
D) risk bearing
E) rack jobbing
________ involves persuading people to buy goods they had no thought of buying.
A) Sustainable marketing
B) High-pressure selling
C) Strategic marketing
D) Redlining
E) Reverse redlining
Companies such as Amazon.com and Expedia.com that sell products and services
directly to final buyers exclusively over the Internet are known as ________.
A) transaction sites
B) content sites
C) search engines and portals
D) e-tailers
E) online social media
Integrated marketing communications require a company’s mass-market
advertisements, Web site, e-mail, and personal selling communications to all have
________.
A) equal portions of the advertising budget
B) independent communications directors
C) separate marketing objectives
D) the same target audience
E) the same brand message, look, and feel
A company that makes products that give high immediate satisfaction but may hurt
consumers in the long run makes ________ products.
A) deficient
B) pleasing
C) salutary
D) desirable
E) threatening
Which of the following statements about magazines as an advertising medium is true?
A) Magazines have long ad purchase lead times.
B) Magazines cannot offer high geographic selectivity.
C) Magazines lack credibility.
D) Magazines provide better local coverage than newspapers.
E) Magazines have poor reproduction of images.
Refer to the scenario below to answer the following question.
Reliable Tools Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tools only has 15 customers, the company is the sole
supplier of hub and axle components to those customers. Monthly sales at Reliable
Tools are approximately $1 million. “You might say we have all our eggs in one
basket,” says owner Arthur Deetz.
It is critical that a competent sales force be maintained in order to nurture those few but
large accounts. Ninety-five percent of Reliable Tools’ customers are located in
Michigan, Ohio, and Indiana, which means that travel time to all customers is relatively
short. However, given the nature of the industry, time spent with each customer is
crucial.
Several compensation plans are available to reward and motive Reliable Tool’s sales
people. Since generating new leads and new business can be a goal for the sales force,
which compensation plan approach is MOST likely to motivate and direct the
salespeople in that direction?
A) straight commission
B) salary plus bonus
C) straight salary
D) salary plus commission
E) salary, commission, and bonus
Which of the following is illustrated by an amateur 30-second video, developed by a
consumer, telling the story of the online crafts marketplace, Etsy.com?
A) personal selling
B) consumer-generated messages
C) consumer ethnocentrism
D) sales promotion
E) consumerism
________ is the act of obtaining a desired object from someone by offering something
in return.
A) Valuation
B) Exchange
C) Market offering
D) Confiscation
E) Donation
During the prospecting stage, a salesperson needs to identify the good leads and screen
out the poor ones through a process known as ________.
A) closing
B) satisficing
C) presenting
D) qualifying
E) approaching
Which of the following product mix pricing strategies did Polaroid use when it set the
general price range of its cameras low and the markup on its film high?
A) product-segmented pricing
B) by-product pricing
C) customer-segmented pricing
D) captive product pricing
E) product bundling pricing
Service ________ means that the quality of services depends on who provides them as
well as when, where, and how they are provided.
A) intangibility
B) inseparability
C) variability
D) perishability
E) heterogeneity
Compare and contrast specialty stores and convenience stores.
Give examples of competitor objectives and discuss the importance of knowing a
competitor’s mix of objectives.
What is e-procurement? Briefly describe its major advantages.
What are the different brand sponsorship options available to manufacturers?
Define price. Discuss its importance.
What does the proposal solicitation stage of the business buying process involve?
The marketing team at Bead Beautiful, a jewelry brand targeted at preteen girls, is
meeting to formulate the product’s value proposition. What should team members
consider as they define a value proposition for Bead Beautiful?
What is the difference between marketing planning and marketing implementation?
Describe the significance of public relations as a mass-promotion tool.
Explain the advantages of systems selling.