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The number of products purchased by the same customer is called repeat purchases.
This can be important with things like stereos and cell phones because they rely on
loyalty for success.
Pricing decisions can be made by the accounting department and do not need to
consider the whole of the firm's offering.
Global luxury brands like Tiffany's look to Asian markets that have a higher demand for
luxury goods than the U.S. market.
Integrated marketing communication (IMC) is the strategic approach to communicating
the brand and company messages to targeted customers in ways that are clear, concise,
and consistent and yet are customizable as needed to maximize the impact on a
particular audience.
Regardless of whether the setting is B2C or B2B, the vast majority of costs are
associated with the purchase price.
In reality, cutting out intermediaries is always a guarantee of saving consumers money.
Public relations (PR) is a systematic approach to influencing attitudes, opinions, and
behaviors of customers and others.
Since a product's price tends to be so visible and definitive, customers rarely have
trouble moving past price to consider other critical benefits the product affords.
With prestige pricing, some of the traditional price/demand curves cannot properly
predict sales or market response because it violates the common assumption that
increasing price decreases volume.
Parents buying their daughter a pair of jeans would probably consider Aeropostale jeans
to be just another pair of jeans; however, to the teenager, the same purchase makes an
important statement about herself and her choice of clothes.
Lifestyle refers to an individual's perspective on life and manifests itself in that person's
activities, interests, and opinions (AIOs).
Objective measures fall into two major categories: output measures and input measures.
The way an advertisement communicates the information and image is called
advertising results.
_____________ represent the exporting firm in foreign markets. They are the face of
the company through servicing customers, selling products, and taking payment. They
often take title to goods and resell them.
A. Brokers
B. Export agents
C. Distributors
D. Direct sales forces
E. Freight forwarders
One competitive force not addressed directly by Michael Porter is ________.
A. Power of competitive forces
B. Power of substitute forces
C. Power of other stakeholders
D. Power of suppliers
E. Power of potential entrants
Personality trait theories all have two basic assumptions: (1) each person has a set of
consistent, enduring personal characteristics, and (2) those characteristics can be
measured to identify ____________.
A. Differences between individuals
B. Reactions in certain situations
C. Common beliefs
D. Mood
E. Emotion
In the _________ phase of PLC, sales continue to increase but at a decreasing rate.
A. Maturity
B. Growth
C. Introduction
D. Decline
E. None of these
When discussing service quality, tangibles refer to _________.
A. The elements of communication that differentiate one service firm from another
B. The handsomeness and/or beauty of the employees
C. The combination of price and quality of the service
D. The physical evidence of a service or observable aspects
E. None of these
When your boss, Fernando, says that you need a ROMI of 5.0, he is describing the
__________ for the marketing investment.
A. Risk factor
B. Suitability factor
C. Total rate
D. Hurdle rate
E. All of these
_______________ is the first element in the process cycle for CRM.
A. Analysis and refinement
B. Supplier interface
C. Customer interaction
D. Knowledge discovery
E. Marketing planning
When making product choices, Kristina chooses the products that her friend likes. This
is an example of _____ affecting the actual choice decision.
A. Physical surroundings
B. Social circumstances
C. Time circumstances
D. Biorhythms
E. State of mind
A marketing manager must evaluate global market opportunities that will allow the firm
to utilize its strengths and minimize its weaknesses. A firm must be particularly strong
in ___________ to succeed in expanding to global markets.
A. Accounting and law
B. Currency trading
C. Marketing and logistics
D. Human resources
E. Customer service
______________ are direct, immediate reductions in price provided to purchasers.
A. Fixed costs
B. Variable costs
C. Total costs
D. Discounts
E. Allowances
Mark and Gregory are partners in a manufacturing firm that employs over 1,500 people.
Recently, employees have been complaining that they were not told of changes in health
insurance coverage and premiums. They attribute this to a problem with the ________
part of the value chain.
A. Firm infrastructure
B. Human resource management
C. Technology development
D. Inbound logistics
E. Procurement
The concept of the value chain was created by ________.
A. Fred Wiserma
B. Michael Porter
C. Jim Collins
D. Peter Drucker
E. The Boston Consulting Group
___________ is the most common method for entering foreign markets and accounts
for ________ of all global economic activity.
A. Direct foreign investment, 20 percent
B. Licensing, 12 percent
C. Franchising, 35 percent
D. Exporting, 10 percent
E. Joint ventures, 15 percent
