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Independent off-price retailers either are independently owned and run or are divisions
of larger retail corporations.
The first step in the selling process is prospecting€identifying qualified potential
customers.
Advertising media costs and availability differ vastly from country to country.
Open-end questions are especially useful in exploratory research.
Firms competing in a given target market, at any point in time, differ in their objectives
and resources.
The existence of competitors in a market may help a company increase total demand.
Asian American consumers are the least brand conscious of all the ethnic groups.
If a firm moves into joint ventures and direct investments, it will eventually need to
create an export department.
As mass markets have fragmented, marketers have shifted away from mass marketing.
Xorbate Blue is a relatively new food supplement that provides both high immediate
satisfaction and high long-run benefits, such as improved energy levels and muscle
tone. Xorbate Blue is best classified as a pleasing product.
In the territorial sales force structure, each salesperson is responsible for selling a
single, exclusive product across different geographical regions.
Commercial sources of information typically legitimize and evaluate products for
buyers.
When segmenting by user status, markets are segmented into light, medium, and heavy
product users.
Niche marketing involves tailoring brands and promotions to the needs and wants of
local customer groups-cities, neighborhoods, and even specific stores.
The more elastic the demand, the more it pays for the seller to raise the price.
A company's total marketing communications mix consists of a special blend of
advertising, sales promotion, public relations, personal selling, and direct-marketing
tools that the company uses to communicate customer value and build customer
relationships. Which of the following terms best describes this communications mix?
A) the product mix
B) product line filling
C) the promotion mix
D) the price mix
E) horizontal diversification
An illustration, a headline, and a copy are the three ________ elements of an
advertisement.
A) tone
B) mood
C) format
D) reach
E) frequency
A(n) ________ community is a group of nations organized to work toward common
goals in the regulation of international trade.
A) joint venture
B) strategic marketing
C) economic
D) joint-stock
E) multilateral
________ perform a role similar to that of brokers or agents but are part of the buyer's
organization.
A) Truck jobbers
B) Merchant wholesalers
C) Purchasing officers
D) Rack jobbers
E) Cash-and-carry wholesalers
Which of the following characterizes standardized global advertising?
A) higher advertising costs
B) no global advertising coordination
C) higher appeal to varying demographics
D) a more consistent worldwide image
E) lower reach
A financial services firm has several loyal customers who conduct business with them
exclusively. However, the company has noticed that this customer group is the least
profitable for the company, and in some cases, it increases their losses when engaging
in business with this group. Which of the following customer groups is being referred to
in this scenario?
A) butterflies
B) true friends
C) strangers
D) barnacles
E) cash cows
At Gina's retail stores, the posted policy reads, "Without our customers, we don't exist."
Gina and her staff aim to delight each customer, and they are quick to offer discounts or
extra services whenever a customer is anything less than satisfied. Gina and her staff
strive to make every customer a repeat customer. It is most accurate to say that instead
of focusing on each individual transaction, Gina and her staff put a priority on
________.
A) managing partner relationships
B) selling new products
C) attracting "butterflies"
D) converting "barnacles" to 'strangers"
E) capturing customer lifetime value
Which of the following is a type of flow that connects all institutions in a marketing
channel?
A) payment flow
B) intrinsic flow
C) customized flow
D) reverse flow
E) divergent flow
More and more companies are moving away from high-commission plans because
________.
A) outside salespeople tend to undermine the efforts of the inside sales team
B) high-commission plans require salespeople to work overtime
C) salespeople tend to become pushy which affects customer relationships
D) salespeople are prone to taking multiple sales jobs to maximize their income
E) salespeople end up spending too much time traveling to meet customers
At Price & Wallace Inc., a pharmaceuticals company, members of the sales force and
marketing department tend to have disagreements when things go wrong with a
customer. The marketers blame the salespeople for poorly executing their strategies,
while the salespeople blame the marketers for being out of touch with customers.
Which of the following steps should the higher management at Price & Wallace take to
help bring the sales and marketing functions closer together?
A) establish a customer sales force structure and make sure that sales quotas are easily
achievable
B) establish a complex sales force structure
C) emphasize traditional methods of selling
D) adopt a sales force automation system and implement team selling
E) appoint a high-level marketing executive to oversee both marketing and sales
Kirk's Comic Store has its own mobile app that users can download for free. The app
lets users know about special events, discounts, and merchandise currently available in
the store. Which of the following forms of marketing is exemplified from this scenario?
A) social media marketing
B) kiosk marketing
C) direct-response television marketing
D) catalog marketing
E) direct-mail marketing
In a(n) ________, executives are trained in worldwide operations, not just domestic or
international operations.
A) direct exporting company
B) joint venture
C) international division
D) international subsidiary
E) global organization
The boom in Internet marketing has created a new set of social and ethical issues.
Critics worry most about ________.
A) accessibility
B) puffery in advertising
C) online privacy issues
D) sustainability
E) issues pertaining to efficiency
When would a marketer most likely use a comparative ad?
Describe how nonstore retailing has grown in the past decade.
Explain how marketers may be able to reduce postpurchase cognitive dissonance.
How are companies taking advantage of interactive technologies to tap consumers for
message ideas and actual ads? What are the benefits and disadvantages of
consumer-generated advertising?
A marketer has selected a single city in which to conduct a test market. What can be
concluded from this choice of a single-city test market?
What elements comprise a store's atmosphere?
With the help of an example, explain the difference between a consumer product and an
industrial product.
What constitutes retail convergence?
