CRM-driven, one-to-one marketing tends to have increased promotional costs.
A product line is defined as the combination of all the products offered by a company.
A company can do business with an international company and still not engage in direct
foreign marketing.
Demographics is defined by the American Heritage Online Dictionary as “The
characteristics of human populations and population segments, especially when used to
identify consumer markets.”
According to Michael Porter, the first step of marketing planning is the establishment of
goals and objectives.
USAA customers and employees have face-to-face interaction that leads to high levels
of satisfaction.
All of the activities in the value chain lead to margin.
The Sarbanes-Oxley Act of 2002 established specific procedures to ensure ethical
conduct at the highest levels of the company, including the Board of Directors.
Motivation is the force by which powerful unmet needs, or motives, prompt someone to
action.
Within a particular product category, the variety and assortment of products carried by
retailers remain the same.
A buying center is a permanent group of people at a B2B company that decides on each
new purchasing decision.
A data warehouse allows the firm to collect information about every customer
touchpoint in a systematic way and analyze it through data mining.
Customer satisfaction and customer loyalty essentially are the same thing.
An understanding of marketing beyond home markets develops over time as a company
gets more international business experience. This process is referred to as the
___________.
A.Global experience curve
B.Global learning continuum
C.Regional experience learning curve
D.Global experience learning curve
E.International experience continuum
Marketers refer to the experience beyond the home market as the global experience
learning curve and it involves four distinct stages.
Jean Claude has just completed a new line of designer handbags. He wants the price to
communicate to the customer that the handbags are high quality, so he sets it high. He
knows that after this season, the price will lower. Jean Claude is using
______________.
A.Penetration pricing
B.Price skimming
C.Target ROI
D.Competitor based pricing
E.Value pricing
A strategy of price skimming addresses the objective of entering a market at a relatively
high price point and it may be used to lend prestige to the brand. Since Jean Claude is
introducing the handbags at a high price, he is using price skimming.
When McDonald’s requires franchisees that want to participate in the latest scratch-off
game to sign an agreement as to how the game will be promoted and administered in
the store, it is exercising ____________ to control misuse of the promotional activity.
A.Coercive power
B.Reward power
C.Expert power
D.Referent power
E.Legitimate power
Legitimate power results from contracts such as franchise agreements or other formal
agreements. Thus, the power exercised by McDonald’s is the legitimate power.
Phat Suitz, a manufacturer of male clothing, initially started as a small firm without any
separate HR department. Now the firm has more than 100 employees and the
administrative assistant who has taken care of issues like processing new hires and
managing benefits since the founding of the company is overwhelmed with too many
tasks. Managers have determined a need for a human resources department. An
examination of this issue would be found in the ___________ part of the situation
analysis.
A.Firm structure
B.Firm culture
C.Firm leadership
D.Firm resources
E.Firm history
Creating an HR department is related to changing the firm’s structure. So an
examination of this issue would be found in the firm structure part of the situation
analysis.
Which of the following does NOT best describe marketing dashboards?
A.Provides a diagnostic insight
B.Provides enough strategic insights
C.Provides a predictive value
D.Enhances the efficiency and effectiveness of marketing investments
E.All of the above
Marketing dashboards generally consist of too many tactical metrics and do not provide
enough strategic insights.
Differentiated target marketing means ______.
A.Offering different prices to different markets
B.Providing the same value offering to every market segment
C.Developing different value offerings for different targeted segments
D.Using different promotional strategies for different markets
E.None of the above
Differentiated target marketing, often referred to as simply differentiation, means
developing different value offerings for different targeted segments. Possible sources of
differentiation are many and include innovation/ R&D, product quality, etc.
Once a purchase decision is made, the purchase decision process continues and is called
_____________.
A.Cognitive dissonance
B.Purchase evaluation process
C.Post mortem analysis
D.Post-purchase evaluation
E.None of the above
The purchase decision process does not end with the purchase of the product. Once the
buyers start using the product, they assess product performance and the seller’s response
to any problems or issues. This is called as post-purchase evaluation.
Making a change in any of the marketing mix elements will _______________.
A.Leave the other elements unchanged
B.Possibly have an impact on another element
C.Have a domino effect on the other elements
D.Require the firm to introduce new products
E.Require an increase in promotion
Marketing mix refers to a combination of 4Ps of marketing: product, price, place, and
promotion. Making a change in any one of these elements tends to result in a domino
effect on the others.
An emerging consumer trend in many industrialized countries is the willingness to trade
_____ for _____.
A.Time, energy
B.Service, money
C.Service, time
D.Time, value
E.Time, money
Time is a resource. In many industrialized countries, consumers are willingness to trade
time for money as they would like to have more time for family and are seeking ways to
simplify their lives.
Really Big Financial Co. has been forced to sell the under performing mortgage
division so that senior management can focus on the relatively profitable sector of
private banking. Mostly likely the company is pursuing a generic business strategy of
_________.
A.Retrenchment
B.Stability
C.Diversification via concentric means
D.Growth/Concentration via vertical integration
E.Growth/Concentration based on horizontal integration
The firm is divesting the troubled unit and is pulling back from the financial market.
Thus it is pursuing the generic strategy of retrenchment.
______________ functions are among the most commonly provided channel
intermediary activities.
A.Market research
B.Quality evaluation
C.New product development
D.Product advertising
E.Transportation and storage
Relatively few producers operate their own transportation networks or provide
warehousing facilities. So transportation and storage functions are among the most
commonly provided channel intermediary activities.
Home Depot buys home products and then resells them to consumers, building
contractors, and other professionals in the construction industry. This puts them in the
category of businesses called _________.
A.Mixed use enterprise
B.Resellers
C.Value added enterprise
D.Retail merchandiser
E.End sellers
Companies that buy products and then resell them to other businesses or consumers are
called resellers. Home Depot is an example.
The makers of Milk Bone dog biscuits recently launched a media campaign to promote
Canine Assistants, a nonprofit group that provides service dogs to people with
disabilities. This type of marketing may be called __________.
A.National marketing
B.Global marketing
C.Animal marketing
D.Societal marketing
E.Brand marketing
At the broadest conceptual level, members of society at large can be viewed as a
stakeholder for marketing, a concept called societal marketing. The makers of Milk
Bone dog biscuits are trying to do well by doing good. So this type of marketing is
called as societal marketing.
Research into the adoption process of the Internet in the United States found it very
similar to the ____________.
A.Adoption of color television in the 1960’s
B.Adoption of transistor radios
C.Adoption of ham radio in the 1930’s
D.Adoption of desktop operating systems
E.Adoption of cell phones
Internet adoption followed a relatively traditional curve for adoption that color
televisions displayed.
Mammoth Foods, a major agricultural corporation, recently purchased MJS Organic
Foods Co. MJS was established six years ago and has become a major supplier to
restaurants in the northeastern United States. The organic herbs, vegetables, and fruit
market is expected to have a double-digit growth rate over the next decade. Most like,
MJS would be classified as a ___________ under the Boston Consulting Group model.
A.Star
B.Cash cow
C.Dog
D.Problem Child
E.Top Gun
In only six years MJS has become a major supplier that indicates high share; also it is
expected to have a high (double digit) growth rate. Hence it is a star.
Two-thirds of all adopters for a given product fall in the ________.
A.Early adopters
B.Early and late majority
C.Innovators
D.Late majority
E.Early majority
Two-thirds of all adopters for a given product fall in the early and late majority.
On a box of Procter & Gamble’s Bounce fabric softener sheets, the brand name
“Bounce” is approximately 50 percent of the space on the front panel and the rest of the
space is a bright color (orange) with clean fresh images of a sun rising and a green field.
This is an example of the _____ requirements of labeling.
A.Legislative
B.Marketing
C.Legal
D.Industry
E.Consumer
Since package labeling represents the last marketing opportunity before the purchase
decision, as much label space as possible is allocated to marketing communications.
Thus, this case is an example of meeting the marketing requirements of labeling.
Karen is a marine biologist who was born in 1970. What generation does she belong to
and what are its characteristics?
What is clutter, how is it described as it relates to customers, and how does it impact
media selection and creative execution?
What are gender roles? Provide an example of how they have changed over time in the
United States.
How do technology transformations affect marketing decisions?
Business markets are characterized by fewer, but larger customers, how does this affect
customer retention?
Rosalie runs a manufacturing company that makes various seasonal items. Rosalie is
headed to an industry tradeshow and wants to create some kind of incentive to get more
buyers for her products. What would be a good strategy for Rosalie to use? What does
the strategy require Rosalie to do?