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Crowdsourcing means inviting an Internet community to help create content or
software, often with prize money or a moment of glory as an incentive.
Wholesalers exclude manufacturers and farmers because they are engaged primarily in
production, but include retailers, as they are selling to the end consumer.
Implication questions ask about the consequences of a buyer's problems, difficulties, or
dissatisfactions.
Consumers are more likely to transmit negative WOM and pass on information about
their own negative consumption experiences.
Demand estimates prepared by companies are based on four different time periods.
Manufacturers handle forward buying and diverting by producing and delivering less
than the full order in an effort to smooth production.
Gap and Pottery Barn are examples of franchise organizations, where two or more retail
outlets are owned and controlled by a corporation that employs central buying and
merchandising and sells similar lines of merchandise.
In applying MBO (management by objectives) all objectives are treated as being
equally important.
The value delivery system includes all the experiences the customer will have on the
way to obtaining and using the offering.
Environmental laws imposed by the government may at times create new business
opportunities.
Cash donations are the most productive contribution that businesses can make to a
nonprofit or community group.
A short definition of marketing is "meeting needs profitably."
The distance between the market minimum and the market potential shows the overall
product penetration percentage.
The amount spent on search ads in 2013 was $12.8 billion.
Capital items are long-lasting goods that facilitate developing or managing the finished
products.
A manufacturer wants to achieve rapid market penetration through a low-price policy.
However, the manufacturer's dealers prefer to work with high margins and pursue
short-run profitability. The major reason for this conflict is ________.
A) goal incompatibility
B) unclear roles
C) ambiguous rights
D) differences in perception
E) dependence on the manufacturer
Which of the following is an advantage of using Yellow Pages as an advertising
medium?
A) low competition
B) high believability
C) short ad purchase lead time
D) greater scope for creativity
E) lack of clutter
McDonald's has often teamed up with Disney to offer products related to current Disney
films as part of its meals for children. The best description of this form of alliance
would be a ________.
A) product alliance
B) logistics alliance
C) pricing collaboration
D) network alliance
E) promotional alliance
Brown & Smith Inc. engages in the design, development, making, and retail selling of
designer jewelry in North America. Before approving a new design, the company draws
it on a computer and then produces models to show potential consumers and get their
reactions. This allows the company to analyze the possible customer reaction. Identify
the concept testing method used here.
A) conjoint analysis
B) perceptual mapping
C) virtual reality testing
D) rapid prototyping
E) digital fabrication
________ is a source of a spokesperson's credibility that describes how objective and
honest the spokesperson is perceived to be.
A) Likability
B) Expertise
C) Experience
D) Trustworthiness
E) Compassion
To estimate replacement sales, management must research the product's ________, the
number of units that fail in year one, two, three, and so on.
A) survival-age distribution
B) life-cycle ratio
C) obsolescence rate
D) business turnover ratio
E) product-performance usage
The ultimate outcome of relationship marketing is a unique company asset called the
________, consisting of the company and its supporting stakeholders.
A) brand
B) supply chain
C) marketing network
D) value proposition
E) service channel
In the United States, people born between the years ________ are called baby boomers.
A) 1978 and 2002
B) 1946 and 1964
C) 1925 and 1945
D) 1965 and 1985
E) 1920 and 1940
RX Corp. is a large manufacturer of electronic goods and sells its products through
distributors and retailers. In order to keep pace with the growing use of the Internet, the
company decides to start selling online. The company faces stiff opposition from its
retailers as they believe that this will significantly reduce their profits. The company
attempts to eliminate this resistance by offering its retailers commissions for processing
and delivering orders received via the Web. This is an example of which of the
following conflict resolution strategies?
A) dual compensation
B) joint membership
C) arbitration
D) co-optation
E) strategic pricing
Which of the following questions is answered during the business analysis of ideas?
A) Will this product meet our profit goals?
B) Have we got a technically and commercially sound product?
C) Can we find a cost-effective, affordable marketing strategy?
D) Can this product meet sales expectations?
E) Can we find a good concept consumers say they would try?
Linda was buying all her groceries from Home Needs supermarket for the past 5 years.
She recently came across The Convenience Store, another supermarket just a few miles
away from her place and started buying her groceries from them. Linda can be best
described as a(n) ________.
A) split loyal
B) antiloyal
C) shifting loyal
D) hard-core loyal
E) switcher
When Tommy Hilfiger was an unknown brand, advertising announced his membership
as a great US designer by associating him with Geoffrey Beene, Stanley Blacker, Calvin
Klein, and Perry Ellis, who were recognized members of that category. Tommy Hilfiger
conveyed the brand's category membership by ________.
A) relying on the product descriptor
B) focusing on reliability
C) comparing to exemplars
D) announcing category benefits
E) identifying counter examples
In the ________ method for assessing customer value, customers are asked how costs
of using a new product compare to those of using an incumbent product.
A) direct survey
B) importance ratings
C) field value-in-use assessment
D) benchmarking
E) conjoint analysis
If consumers can easily recall and recognize a brand element, the brand element is said
to be ________.
A) meaningful
B) protectable
C) adaptable
D) transferable
E) memorable
When Gerard and his team seek to evaluate blogs according to three dimensions '”
relevance, sentiment, and authority '” they are focused on characterizing the ________
of word of mouth.
A) speed
B) source
C) scale
D) share
E) space
Xerox offers a ________ approach to prospective clients when it offers a complete
turnkey solution, including the operation and management of the client's information
and communication need.
A) guided selling
B) fair trading
C) systems buying
D) cross-selling
E) local purchasing
Customer relationship management enables companies to provide excellent real-time
customer service through the effective use of ________.
A) reports from mystery shoppers
B) survey data from customers who have defected
C) market research
D) individual account information
E) demographic trend data
Which of the following is true about the technology trends that marketers should
monitor?
A) A growing portion of US R&D expenditures are going toward the research side as
opposed to the development side.
B) Today, the time between idea and implementation is expanding.
C) More single companies rather than consortiums are directing research efforts toward
major breakthroughs.
D) The pace of change is accelerating today.
E) The government has decreased regulation of technological change.
________ is market share in comparison to the largest competitor.
A) Relative market share
B) Served market share
C) Overall market share
D) Market value
E) Target market share
Which of the following consumer promotion tools involves using one brand to advertise
another noncompeting brand?
A) tie-in promotion
B) frequency programs
C) specialty advertising
D) cross-promotion
E) patronage awards
The question "What is your opinion of the measures taken by the government to control
inflation?" is an example of a ________ question.
A) semantic differential
B) word association
C) completely unstructured
D) story completion
E) dichotomous
If line filling is overdone, it could result in ________ and customer confusion.
A) sales paralysis
B) manufacturing inefficiencies
C) cannibalization
D) disintermediation
E) ineffective management
Provide five examples of things a marketer might track to measure buzz.
As a marketing manager of Kids Care, a manufacturer of baby soaps, Tim plans to
analyze customer attitudes by using the focus group research approach. How will he
conduct the research in this case?
Assume that you are a marketing manager for a youth clothing manufacturer that has
just read about the megatrend of the "rising Hispanic influence" in the United States.
Explain this megatrend and indicate why it might be important to your company.
Clearwater Spa operates on the premise that service quality is the main reason that
customers come to the spa, and the attendants are trained to provide excellent service.
Despite this, the spa rarely has repeat customers. Clearwater began collecting feedback
from customers to find out the reason for this. The management realized that although
the customers were happy about the services, they did not like the ambience. What kind
of a gap is causing the unsuccessful service delivery in this situation?
Define leverageable advantage with an example.
A company that pays its bills each month for its rent, heat, interest, and salaries
regardless of its output is said to be incurring what type of costs?
There are three key consumer criteria that determine whether a brand association can
truly function as a point-of-difference. When the Westin Stamford hotel in Singapore
advertised that it was the world's tallest hotel, it attempted to create a
point-of-difference (POD). Explain why the hotel may not have been successful in its
attempt to create its POD.
Define organizational buying.
Explain qualitative research and why it might be useful to marketers. What are its major
drawbacks?
Suppose, as a marketing manager of a firm, you plan to conduct market research using
qualitative measures. For the purpose of developing consumer insight you have
distributed among the respondents a picture of a man and woman in a coffee shop, and
have asked the respondents to make up a story about what is happening in the picture.
Identify and define the type of question used in this case.
