The introduction of new technologies is equally beneficial to all industries.
Market leaders can grow by further increasing their market shares.
Marketers must increasingly consider the special needs of traditional households
because this segment of the population is growing more rapidly than nontraditional
households.
Government organizations typically require suppliers to submit bids, and normally they
award the contract to the lowest bidder.
With outbound telephone marketing, the company provides a toll-free phone number to
receive orders from television ads, print ads, direct mail, and catalogs.
Using a segmented marketing strategy, a firm might decide to ignore market segment
differences and target the whole market with one offer.
On a deeper level, our wants and values are influenced not only by marketers but also
by family, peer groups, religion, cultural background, and education.
In consumer-generated marketing, marketers play a bigger role in shaping consumers’
brand experiences and those of others.
In the business buying process, the buyer and seller are relatively less dependent on
each other.
Juana looked at the September issue of her favorite fashion magazine and did not find
anything particularly interesting despite the fact that the magazine had several
advertisements that were targeted at Juana’s demographic. The only thing that interested
her was an article about an upcoming fashion show. Which consumer behavior is being
illustrated in this instance?
A) subliminal advertising
B) groupthink
C) selective attention
D) social loafing
E) consumer ethnocentrism
A runner-up firm that wants to hold its share in an industry without rocking the boat is a
________.
A) market follower
B) market maven
C) market challenger
D) market nicher
E) market leader
Which of the following is included in the second part of the marketing strategy
statement?
A) advertising tagline
B) promotional mix
C) planned price
D) customer segmentation
E) operational excellence
Which of the following is true with regard to cash cows?
A) They are high-growth, high-share businesses or products.
B) They can be used to help finance the company’s question marks and stars.
C) They require significant cash to maintain market share.
D) They are low-share businesses and products.
E) They do not promise to be large sources of cash.
Which of the following stages of the new-product development process occurs
immediately after the completion of the business analysis for the product or service?
A) idea screening
B) product development
C) product activation
D) marketing strategy development
E) product design
Reliable Tools Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tools only has 15 customers, the company is the sole
supplier of hub and axle components to those customers. Monthly sales at Reliable
Tools are approximately $1 million. “You might say we have all our eggs in one
basket,” says owner Arthur Deetz.
It is critical that a competent sales force be maintained in order to nurture those few but
large accounts. Ninety-five percent of Reliable Tools’ customers are located in
Michigan, Ohio, and Indiana, which means that travel time to all customers is relatively
short. However, given the nature of the industry, time spent with each customer is
crucial.
During the prospecting stage, a salesperson needs to identify the good leads and screen
out the poor ones through a process known as ________.
A) closing
B) satisficing
C) presenting
D) qualifying
E) approaching
Which of the following statements characterizes the introduction stage of the PLC?
A) There are increased marketing outlays.
B) Profits are nonexistent.
C) The company incurs minimal expenses.
D) The product achieves acceptance by most potential buyers.
E) Promotional expenditures are zero.
The two major links between the seller and the final buyer-channels between nations
and channels within nations-make up a ________.
A) whole-channel view
B) direct-distribution channel
C) large-scale channel
D) transportation network
E) retail channel
Marketers can expand markets by discovering and promoting ________.
A) subliminal points of interest
B) the deficiencies of competitors
C) subtle advantages of the product
D) new uses of the product
E) green technologies
Members of management at Growing Green, a company that markets organic and
environmentally friendly gardening and landscaping supplies and equipment, are
evaluating the benefits and disadvantages of indirect exporting, direct exporting, and
licensing. In which stage of the international marketing process is Growing Green?
A) deciding on the global advertising strategy
B) deciding which markets to enter
C) deciding how to enter the market
D) deciding on the global marketing program
E) deciding on the global marketing organization
In ________, companies put their purchasing requests online and invite suppliers to bid
for the business.
A) strategic sourcing
B) trade exchanges
C) reverse auctions
D) outsourcing activities
E) insourcing activities
Which of the following terms refers to the wholesalers and retailers that form a vital
link between the firm and its customers?
A) factory-supply networks
B) downstream partners
C) resource banks
D) upstream partners
E) supply channels
Price setting is usually determined by ________ in large companies.
A) the top managers
B) the external stakeholders
C) product managers
D) non-executive employees
E) the sales department
A company can become so ________ centered that it loses its even more important
focus on maintaining profitable ________ relationships.
A) customer; competitor
B) competitor; customer
C) market; customer
D) market; competitor
E) competitor; product
A product in the maturity stage will most likely require ________ advertising.
A) informative
B) comparative
C) persuasive
D) reminder
E) covert
In a(n) ________, two or more companies at one level join together to follow a new
marketing opportunity.
A) administered vertical marketing system
B) horizontal marketing system
C) corporate vertical marketing system
D) hybrid distribution system
E) conventional marketing system
Ford and its network of independent franchised dealers is an example of a ________.
A) manufacturer-sponsored retailer franchise system
B) manufacturer-sponsored wholesaler franchise system
C) service-firm-sponsored retailer franchise system
D) service-firm-sponsored equity strategic alliance
E) manufacturer-and-service-sponsored joint venture
Differentiate between controlled test markets and simulated test markets.
Compare and contrast specialty stores and convenience stores.
How do socially responsible firms positively impact consumers and the environment?
Why is it important for marketers to understand cultural swings?
How does a retailer cooperative function?
Differentiate between a product idea, a product concept, and a product image.
Why has the cost of product liability insurance risen so dramatically?