If a marketing researcher decides to use a Likert scale, the researcher has chosen a
technique wherein the respondent reviews a statement that shows the amount of
agreement/disagreement with some product, service, or concept.
Forward invention refers to reintroducing earlier product forms that are well adapted to
a foreign country’s needs.
When change is necessary, marketers should vigorously preserve and defend sources of
brand equity.
The US government often uses Dutch auctions to procure supplies.
A tachistoscope flashes an ad to a subject with an exposure interval that may range from
less than one hundredth of a second to several seconds and asks the respondent to
describe what s/he recalls.
Firms that can develop substitute materials for finite nonrenewable resources have an
excellent opportunity.
In licensing, the licensor issues a license to a foreign company to use an item of value
for a fee or royalty.
The macroscheduling decision calls for allocating advertising expenditures within a
short period to obtain maximum impact.
Consumer preferences for alternative product concepts can be measured with conjoint
analysis.
Framing occurs when customers are given a perspective or point of view that allows the
firm to “put its best foot forward.”
Morphological analysis starts by forming a new dimension and then thinks about the
possible problems of the dimension.
Unprofitable customers who defect to a competitor should be encouraged to do so.
Value-augmenting services include installation, staff training, maintenance and repair
services, and financing.
Volvo has the reputation of being one of the safest cars on the road. For those that value
safety, Volvo would be the logical choice. This is an example of the lexicographic
heuristic of consumer choice.
The product hierarchy stretches from basic needs to particular items that satisfy those
needs.
Proponents of holistic marketing consider internal marketing to be as important as
marketing to consumers.
A category concept defines the product’s attributes and features.
Brand extensions can reduce the costs of introductory launch campaigns and make it
easier to convince retailers to stock and promote a new product.
Direct marketing has not been growing as fast as US retail sales.
An inventor is the first to develop a working model while a product pioneer is the first
to develop patents in a new-product category.
According to the VALS segmentation framework, consumers primarily motivated by
ideals are guided by ________.
A) knowledge
B) social activity
C) products that demonstrate success to their peers
D) variety
E) risk
What is the gross rating points (GRP) for a media schedule that reaches 60 percent of
homes with an average exposure frequency of 4 and impact of 1.5?
A) 10
B) 15
C) 160
D) 240
E) 360
A marketing manager has decided to “leapfrog” the competition by moving into
cutting-edge technologies. This indirect approach to attacking competition can be
characterized as a(n) ________ attack.
A) flank
B) encirclement
C) bypass
D) guerrilla
E) frontal
Which of the following is true for the retail industry?
A) Discount stores and catalog showrooms are competing for the same customers.
B) Upscale retailers see a decline in sales as middle-market retailers thrive.
C) Small, specialized retailers are crowding out larger, more diverse retailers.
D) Store retailing sees no competition from nonstore retailing.
E) Discount stores are not doing as well as middle-market retailers.
If Jose is describing chip processing speeds and memory capacity, he is describing the
________ of his firm’s offering in the FABV approach.
A) features
B) advantages
C) benefits
D) value
E) macroenvironment
Juan Garcia plans the daily promotional releases about his company’s products and
services. He can be described as a(n) ________ planner.
A) strategic
B) selective
C) tactical
D) niche
E) operational
Existence of gray markets leads to which of the following outcomes?
A) They make the distribution channel stronger.
B) They create a free-rider problem making legitimate distributors’ investments in
supporting a manufacturer’s product less productive.
C) Goods sold in grey markets are always counterfeit.
D) Goods sold in grey markets come with standard product warranties.
E) Taxes imposed on grey market products are very high.
Regional economic integration is defined as the creation of trading agreements between
________.
A) a firm and its suppliers and distributors
B) firms targeting the same market
C) individual firms in an industry
D) related industries
E) blocs of countries
A factory outlet is an example of a(n) ________ retailer.
A) off-price
B) specialty
C) discount
D) department
E) catalog
Core competencies tend to refer to areas of special technical and production expertise,
whereas ________ tend to describe excellence in broader business processes.
A) process benchmarks
B) distinctive capabilities
C) distributive capabilities
D) facultative benchmarks
E) concentric capabilities
Services high in ________ qualities are those services that have characteristics the
buyer normally finds hard to evaluate even after consumption.
A) trial
B) search
C) experience
D) privacy
E) credence
According to Webster and Wind, businesspeople are buying ________.
A) products
B) solutions to the organization’s economic and strategic problem
C) solutions to their own need for achievement and reward
D) A & C
E) B & C
Which of the following economies provide limited opportunities to international
marketers to develop product sales?
A) capitalist economies
B) subsistence economies
C) raw-materials-exporting economies
D) industrializing economies
E) industrialized economies
________, which combines the BrandAsset® Valuator dimensions of energized
differentiation and relevance, is a leading indicator that predicts future growth and
value.
A) Brand stature
B) A brand’s power grid
C) Brand presence
D) Brand bonding
E) Brand strength
While choosing countries to invest in, companies often choose psychic proximity to
their own country. Psychic proximity can best be defined as countries ________.
A) in which the company feels comfortable with the language, laws, and culture
B) that are located close
C) that the home country’s management team have visited
D) that have no trade barriers
E) with good infrastructure and stable political environment
________ branding consists of activities and processes that help inform and inspire
employees about brands.
A) Internal
B) Personal
C) Individual
D) External
E) Co-
________ are a means of understanding where, how much, and in what ways brand
value is being created to facilitate day-to-day decision making.
A) Internal marketing campaigns
B) Brand portfolio audits
C) Brand value chains
D) Sales cycles
E) Brand-tracking studies
________ encompass sales forecasting, production planning, and inbound materials
transportation.
A) Market logistics
B) Containerization
C) Transportation
D) Nonstore retailing
E) Wholesaling
A ________ is the limit approached by market demand as industry marketing
expenditures approach infinity for a given marketing environment.
A) sales budget
B) company sales forecast
C) sales quota
D) company sales potential
E) market potential
________ brands are positioned with respect to competitors’ brands so that more
important (and more profitable) flagship brands can retain their desired positioning.
A) Flanker
B) Attacker
C) Defender
D) Cash cow
E) Simulation
According to the VALS segmentation system, ________ are considered to be elderly,
passive people who are concerned about change and are loyal to their favorite brands.
A) Believers
B) Strivers
C) Makers
D) Survivors
E) Experiencers
Which three groups of customers can help expand a firm’s market demand?
Mason’s is a supplier of specialty chemicals to a number of companies. The company
previously supplied just three big clients, but the CEO is considering targeting the small
business market. Selling to small businesses presents a huge opportunity, he says, but
some board members disagree, saying it also presents huge challenges. Explain the
challenges the firm might face in targeting small businesses.
What practices guide innovation at W. L. Gore?
Bryson’s is a mid-sized hotel chain that is entering a competitive market. The chain
needs to differentiate its service from that of competitors, positioning itself as a hotel
with excellent service at an affordable price. However, the intangible nature of services
makes this difficult to demonstrate. How can Bryson’s convey its message effectively to
prospective guests using marketing tool of place?
Atronix Solutions is a major manufacturer of electronic measuring devices in the
United States. The company often threatens to terminate its relationship with its
intermediaries if they do not agree with its terms and conditions. What channel power
does Atronix use? What are its effects?
Various factors have contributed to the increased importance of packaging as a
marketing tool. List and briefly describe these factors.
As a company seeks to establish a category membership designation, how does the
company approach points-of-difference? What is done first?
Discuss three advantages of standardizing the marketing mix worldwide.