A competitor’s price is one of the most visible elements of its marketing strategy, and
you can often infer the pricing objective by carefully analyzing historical and current
pricing patterns.
Internet marketing succeeds because spam is so popular.
It is often the case that the purchase decision itself in the B2B market involves
trade-offs between equally important evaluation criteria and equally qualified vendors.
Often, channel members adopt an approach of utilizing their unique competencies to
influence others in the channel.
Cost reduction is a method for introducing lower-cost products that frequently focus on
value-oriented product price points in the product mix.
Most post-mortems on the cause of the dot-com bust point to poor channel and supply
chain practices as the No. 1 reason why so many of those initial e-marketers failed.
What are the two important elements of nonverbal communication?
A.Eye contact and voice modulation
B.Power distance and time orientation
C.Language and accent
D.Values and beliefs
E.Time and space
Two important elements of nonverbal communication are time and space.
FAB stands for _________________________.
A.Find Attract Buy
B.Features Advantages Benefits
C.Features Awareness Benefits
D.Find Advantage Buy
E.First Awareness Buy
The process of salespeople linking knowledge of the company’s products to customer
need solutions is often referred to as FAB-features, advantages, and benefits.
Coca-Cola cups sitting on the desk of the American Idol judges is an example of
_________________________.
A.Rebate program
B.Product placement
C.Promotion
D.Institutional advertising
E.Premium
Product placements involve having product images appear in movies, on television, or
in photographs in print media.
_______________ is often part of an overall positioning strategy built on prestige,
scarcity, and premium pricing.
A.Selective distribution
B.Exclusive distribution
C.Widespread distribution
D.Convenience distribution
E.Intensive distribution
When a manufacturer opts for exclusive distribution in a channel, it is often part of an
overall positioning strategy built on prestige, scarcity, and premium pricing.
John Smith is the CEO of Really Big Corporation and Joe Jones is his sales manager.
John requires monthly total sales projections while Joe needs weekly sales figures
across product lines. This demonstrates the importance of _____________ in a market
information system.
A.Intelligence
B.Knowledge
C.Flexibility
D.Divisibility
E.Intuition
A good market information system is flexible enough for managers to customize the
information they receive and, in some cases, the format they receive it in. Thus in this
case, the MIS must be flexible enough to generate both, monthly sales projections and
weekly sales figures.
______ is any change in the content or organization of long-term memory or behavior.
A.Selective awareness
B.Selective retention
C.Learning
D.Behavior modification
E.Training
Learning occurs when information is processed and added to long-term memory. Thus
any change in the content or organization of long-term memory or behavior is called
learning.
A company uses its information system to explore ways of reducing the wait time for
technical support calls from its customers. In this example, the information system is
helping address a _______ issue.
A.Tacit
B.Sporadic
C.Paradoxical
D.Strategic
E.Tactical
Formal information systems provide a great deal more information that can help guide
strategic decisions (changes in demographics can lead to new market opportunities) or
address critical tactical issues (shorten call wait times for customer service).
Dell prices new computer models to minimize the disruption of demand for its existing
products. This implies a strategy of ________.
A.Lowering the prices of existing models to maintain separation of price between new
and existing models
B.Lowering prices of all models to accommodate for increases in technology
C.Raising all prices together in order to confuse the public to thinking all the
technology is at the same level
D.Raising and lowering prices of all models in order to create a mixed effect
E.Pricing based solely on costs
Technology companies, for many years, have faced the challenge of pricing new
products that are less expensive but with more features than previous models; often they
lower prices on existing products to maintain a price separation between new and
existing products.
Firms must _________ all new-product ideas from the list of ideas that are generated by
the idea generation stage.
A.Rank on the basis of cost
B.Screen and evaluate as quickly as possible
C.Develop a business plan for
D.Develop a scale model for
E.All of the above
New-product development is expensive and resources are scarce, so ideas are evaluated
early to assess their viability.
A(n) ________________ creates a powerful competitive advantage in the marketplace
due to cost and process efficiencies realized when a channel is strictly controlled by one
entity.
A.Insourcing arrangement
B.Marketing information system
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. Corporate VMS can
create a powerful competitive advantage in the marketplace due to cost and process
efficiencies realized when a channel is strictly controlled by one entity.
_______________ is the approach that is attractive for many firms whose core
competencies do not include elements of supply chain management.
A.Insourcing
B.Vertical Marketing System (VMS)
C.Outbound logistics
D.Inbound logistics
E.Reverse logistics
Insourcing or third-party logistics is attractive for many firms whose core competencies
do not include elements of supply chain management. These firms can handover supply
chain functions to other companies that are experts in those areas so that they can
concentrate on their core business.
What are the differences between intrinsic and extrinsic rewards?
Outline the steps in the marketing research process and explain why each is important.
What is nonverbal communication? What are the two factors of nonverbal
communication?
These days more and more companies are using the internet to conduct business. In
regards to retail, there are two key ideas, e-commerce and electronic retailing. How do
these two differ?
What are some of the differences between auction pricing and reverse auction?
Give an example of when a value pricing strategy would be best used.