To use CRM, companies are ____________.
A.Redesigning the internal structures to focus on internal and external relationships
B.Renegotiating contracts with suppliers to cut price
C.Focusing solely on internal relationships
D.Focusing solely on external relationships
E.Giving huge discounts to long time customers
Redesigning the internal structure helps in optimizing CRM’s potential for contribution
to the bottom line.
The marketing manager of Kim’s Cleaners is concerned about the choice of advertising
media in the local area. She is not sure if advertising placed in the local newspaper is
reaching the target market. A research project is launched to determine the relationship
between newspaper readership and use of maid service. _________ research will result
in the most appropriate data for this project.
A.Descriptive
B.Exploratory
C.Relational
D.Causal
E.Advertising
Descriptive research identifies associations between variables. Since the manager wants
to determine the relationship between newspaper readership and use of maid service, he
should use descriptive research.
Customer Relationship Management is designed to __________.
A.Assign a sales representative to a particular customer
B.Allow software to manage marketing
C.Facilitate higher levels of customer satisfaction and identify the most profitable
customers
D.Fire customers who do little business with the firm
E.Aid the accounting department in sending invoices
Much of CRM is designed to facilitate higher levels of customer satisfaction and
loyalty, as well as to provide a means for identifying the most profitable
customers-those worthy of the most marketing investment.
Market testing is designed to help the company ________.
A.Adjust its marketing plan before product launch
B.Identify the counter strategies that the competitors will use
C.Forecast the future economic trends
D.Identify the ethical implications of the new product launch
E.Forecast changes in consumer preferences
One of the objectives of market testing is to get feedback on the tactics that can be used
to adjust the marketing plan before product launch.
_________ uses media such as television and newspapers to deliver the message.
A.Advertising
B.Personal selling
C.Direct marketing
D.Interactive marketing
E.Sales Promotion
Advertising is a paid form of marketing communications that is relatively less personal,
often through a mass medium to one or more target markets. Example media include
television, radio, magazines, newspapers, and outdoor.
The primary organizational factor influencing the product and supplier choice is
_________.
A.Needs and desires of those involved
B.Opportunity for promotion of the buying center manager
C.Product specifications
D.Financial considerations
E.Risk tolerance
The primary organizational factor is risk tolerance. Individuals and companies all have
a certain tolerance for risk. Their product decisions will be influenced by their aversion
to or acceptance of risk.
By the workload method of determining the size of the sales force, to _____, estimate
the number of hours a typical salesperson works per week, and then multiply that by the
number of weeks the salesperson works during the year.
A.Determine the frequency with which each type of account should be called
B.Calculate the workload involved in covering the entire market
C.Calculate the number of salespeople needed
D.Determine the time available for each salesperson
E.Apportion the salesperson’s time by task performed
One of the steps to determine the correct sales force size through the workload method
involves determining the time available for each salesperson by estimating the number
of hours a typical salesperson works per week, and then multiplying that by the number
of weeks the salesperson works during the year.
A willingness and ability on the part of a customer to participate in communicating the
brand message to others within his or her sphere of influence is known as _____.
A.Customer loyalty
B.Consumer promotion
C.Customer advocacy
D.Customer branding
E.Consumer allegiance
Customer advocacy refers to a willingness and ability on the part of a customer to
participate in communicating the brand message to others within his or her sphere of
influence.
When companies look beyond delivering great core products to creating products that
enhance, extend, and encourage the customer, it is called as _______.
A.Product extension
B.Product deviation
C.Product subordination
D.Product clustering
E.Product enhancement
The enhanced product extends the core product to include additional features, designs,
and innovation that exceed customer expectations.
Descriptive research can be used for all of the following EXCEPT:
A.Identifying the characteristics of our target market.
B.Assessing competitor actions in the marketplace.
C.Developing hypotheses for testing in causal research.
D.Determining how customers use our product.
E.Discovering differences across demographic characteristics.
To develop hypotheses for testing in causal research, exploratory (and not descriptive)
research should be used. It is used for all other issues/steps mentioned in the question.
Innovators are product enthusiasts who enjoy being the first people to try a new
product. They represent ___________ of the market.
A.2.5 percent
B.13.5 percent
C.16.0 percent
D.34.5 percent
E.10.5 percent
Innovators are a very small part of the total buying public and generally only represent
about 2.5% of the potential market.
_____ provide critical feedback after the product purchase and, as a result, their
responsibility is enhanced in new purchase and modified rebuy situations when product
specifications are being set for the purchase decision.
A.Gatekeepers
B.Influencers
C.Initiators
D.Users
E.Deciders
Users are the actual consumer of the product and play a critical role. They are the first
to recognize the problem based on a need, help define the product specifications, and
provide critical feedback after the product purchase. As a result, their responsibility is
enhanced in new purchase and modified rebuy situations when product specifications
are being set for the purchase decision.
Scott is a plumbing fixture manufacturer’s representative. He sells to wholesalers,
homebuilders, and retailers. His marketing plan calls for going to four trade shows a
year. He recently found out that there would be a new Home Show aimed at consumers
in his territory and he wants to attend. His boss says, “Go for it!” The boss is reflecting
the concept of _________ in successful marketing planning.
A.Stay flexible
B.Utilize input, but don’t become paralyzed by information and analysis
C.Don’t underestimate the implementation part of the plan
D.Stay strategic but also stay on top of tactical
E.Give yourself and your people room to fail and try again
Markets, customers, competitors and external environment change frequently. Hence
marketing plan must be flexible so as to address new conditions as they arise.
Which of the following is an external factor that exerts a significant impact on
consumer choices?
A.Occupation
B.Lifestyle
C.Situational
D.Learning
E.Perception
Three wide-ranging external factors that have the most significant impact on consumer
choices are: cultural, situational, and social.
A former professional football player invested in a seafood restaurant chain when he
played ball. Now that he is retired from the NFL, he and his partners want to start a
chain of organic fast-casual restaurants in their region of 6 million households. Most
likely, this would be classified as __________ in Ansoff’s Product-Market Matrix.
A.Market diversification
B.Marketing strategy development
C.Market penetration
D.Product development
E.Market development
As per Ansoff’s Product-Market Matrix, product development means introducing new
products in existing markets. Since the seafood restaurant chain now wants to start a
chain of organic fast-casual restaurants in their existing region, it becomes an example
of product development.
In 2009, _______ percent of the workforce was made up of women.
A.46
B.23
C.54
D.31
E.65
In 2009, 46% of the workforce was made up of women and is continuously growing.