When Bob was asked to describe Sherry, he didn’t describe her by talking about her age
or education; rather, his comments about her sense of humor were reflecting her
________.
A.Appearance
B.Personality
C.Income
D.Job type
E.Aptitude
Personal characteristics like sense of humor are personality traits.
Companies translate the essential benefit into physical, tangible elements known as the
_________.
A.Augmented product
B.Core product
C.Deviated product
D.Differentiated product
E.Contrasting product
Companies translate the essential benefit into physical, tangible elements known as the
core product and this is the starting point for the product experience.
Companies that focus on products most likely practice _______.
A.One-to-one marketing
B.Customer marketing
C.Target marketing
D.Consumer marketing
E.Mass marketing
In target marketing, the focus is on developing products for the target segments.
The Internet helped to create a market for ____________________ where sellers bid
prices to capture a buyer’s interest.
A.Price elasticity of demand
B.Stability pricing
C.Pricing tactics
D.Auction pricing
E.Reverse auction
In case of reverse auctions, sellers bid prices to capture a buyer’s interest. Priceline.com
is a prominent example of a reverse auction firm.
In _____________ a channel member has invested in backward or forward vertical
integration by buying a controlling interest in other intermediaries.
A.Third-party logistics
B.Reverse logistics
C.Corporate VMS
D.Contractual VMS
E.Administered VMS
In corporate VMS, a channel member has invested in backward or forward vertical
integration by buying a controlling interest in other intermediaries. This leads to cost
and process efficiencies.
One example of a push strategy is ______________.
A.Couponing
B.Consumer rebates
C.Funding an extra incentive to a wholesale drug salesperson for pushing a particular
medication to an independent pharmacy
D.Heavy advertising in mass media
E.Direct marketing
Push strategies usually are supported by heavy allowance payments to intermediaries
for helping accomplish the manufacturer’s goals.
A significant problem for most managers today is not having too little information but
having too much. Which of the following is required to tackle this problem?
A.Search engines
B.Information systems
C.Logistics management tools
D.Order routing systems
E.Office automation tools
Companies need information systems that can collect and analyze huge amounts of
information and then keep it for the right time and circumstance.
Doug runs a hardware store. He puts prices on the products and scans them when they
get to the register. The price that is marked is the price that will be charged, no
exceptions. Doug uses __________________.
A.Psychological pricing
B.One price strategy
C.Variable pricing
D.Every day low pricing (EDLP)
E.High/low pricing
In a one price strategy, the price of the product remains the same for all the customers.
Payment based on short-term results, usually a salesperson’s dollar or unit sales volume
is known as ________________.
A.Salary
B.Benefits
C.Intrinsic rewards
D.Commission
E.Nonfinancial incentives
A commission is payment based on short-term results, usually a salesperson’s dollar or
unit sales volume.
The TV ad with a movie star talking about Boniva is an example of _________.
A.Fantasy appeal
B.Endorsement appeal
C.Humor appeal
D.Comparative advertising
E.Competitive advertising
Endorsement appeals connect an authority figure, company officer, or everyday
consumer with the product to sanction and support its use.
If the item is not in stock, referred to as a(n) ______________, then inbound
replenishment processes are triggered.
A.Slotting allowance
B.Empty shelf
C.Disintermediation
D.Stock out
E.Supply chain disruption
If the item ordered is in stock, outbound processing from inventory occurs. If the item is
not in stock, referred to as a stock-out, then inbound replenishment processes are
triggered.
From a legal standpoint, it is essential that ________________ are offered to all
customers on an equally proportionate basis so that small buyers as well as large buyers
follow the same rules for qualification.
A.Cash discounts
B.Trade discounts
C.Quantity discounts
D.Seasonal discounts
E.Promotional allowances
From a legal stand point, quantity discounts have to be offered to everyone on an
equally proportionate basis.
______ tends to be more holistic, using summary impressions rather than specific
attributes to evaluate the options and affect even important purchases such as a car or
house.
A.Rational choice
B.Balanced choice
C.Attitude-based choice
D.State-of-mind choice
E.Weighted choice
Attitude-based choices tend to be more holistic, using summary impressions rather than
specific attributes to evaluate the options and affect even important purchases such as a
car or house.
Young, well-educated sales people are highly motivated by ______________________.
A.Salary
B.Non-financial incentives
C.Extrinsic rewards
D.Commissions
E.Incentive pay
In addition to financial compensation, sales managers also incorporate a range of
nonfinancial incentives like promotional opportunities. This is particularly true for
young, well- educated salespeople who tend to view their sales position as a
steppingstone to a senior management position.
With reference to the VALS¢ framework, _______ are mature, satisfied, comfortable,
and reflective. They favor durability, functionality, and value in products.
A.Makers
B.Survivors
C.Believers
D.Achievers
E.Thinkers
Thinkers are mature, satisfied, comfortable, and reflective. They tend to be
well-educated and actively seek out information in the decision-making process. They
favor durability, functionality, and value in products.
The phase of the CRM process cycle that is devoted to personal selling is _______.
A.Data mining
B.Marketing planning
C.Customer interaction
D.Analysis and refinement
E.Knowledge discovery
The customer interaction phase represents the actual implementation of the customer
strategies and programs. This includes the personal selling effort, as well as all other
customer-directed interactions.