Voluntary chains are normally based on one unique product or a specific trade name.
Life insurance is an example of a convenience product.
Customer-centered logistics starts with the marketplace and works backward to the
factory.
When a company expands by developing its own products rather than acquiring a
competitor, the company is likely to be accused of reducing competition.
Cause-related marketing techniques are typically unprofitable for businesses, which is
why it is a rarely used form of corporate giving.
Modifying a product is an ineffective strategy in the maturity period of the product life
cycle because the product’s decline is irreversible at this stage.
Similar consumer needs around the world suggest that a strategy of adapted global
marketing is appropriate for most international firms.
The purpose of operating control is to ensure that a company achieves the sales, profits,
and other goals set out in its annual plan.
In the marketing mix, place refers to activities that communicate the merits of a product
and persuade target customers to buy it.
During the decline stage of the PLC, product sales may plunge to zero, or they may
drop to a low level where they continue for many years.
A concrete and physical presentation of a product concept is likely to increase the
reliability of the concept test.
Marketing intermediaries supply resources needed by a company to produce its goods
and services.
Blogs are online journals where people post their thoughts, usually on a narrow topic.
Management contracting consists of one company joining forces with foreign investors
to create a local business in which they share possession and control.
AirNetwork, a telecommunications company, sponsors a rock concert by a famous band
in order to further its brand visibility. This is an example of a(n) ________.
A) event marketing program
B) premium
C) point-of-purchase promotion
D) trade promotion
E) price pack
Members of which generational group are referred to as echo boomers?
A) the Lost Generation
B) Generation X
C) Generation Z
D) the baby boomers
E) Generation Y
Zindle, an American smartphone-manufacturing firm, targets children below the age of
ten by providing free games and applications. The firm’s marketing approach is
reflective of a(n) ________ segmentation.
A) age and life-cycle
B) geographic
C) occasion
D) gender
E) income
Which of the following is true of product positioning?
A) A product’s position is defined by the number of competitors in a market.
B) Product positioning has little influence on the design of marketing mixes.
C) Consumers generally reevaluate products every time they make a buying decision.
D) To simplify the buying process, consumers are likely to position products in their
minds.
E) Consumers cannot position products without the help of marketers.
Changes in variables, such as income, cost of living, interest rates, and savings and
borrowing patterns most likely reflect changes in the ________ environment of a
company.
A) economic
B) natural
C) demographic
D) political
E) cultural
Which type of retailer typically carries deep product assortments of narrow product
lines?
A) self-service retailers
B) specialty stores
C) warehouse clubs
D) discount stores
E) factory outlets
Vernon Inc. would like to set the best price for a new product. The firm conducts an
experimental study by selling the new product at two different prices in two different
locations keeping other factors constant to see if a lower price results in better sales.
This is most likely an example of ________ research.
A) exploratory
B) descriptive
C) causal
D) focus group
E) ethnographic
Metro Museum has different admission prices for students, adults, and seniors. All three
groups are entitled to the same services. This form of pricing is called ________
pricing.
A) time-based
B) location-based
C) customer-segment
D) by-product
E) product form
A firm that uses direct marketing would most likely sell its products through ________.
A) one marketing intermediary
B) big box retailers
C) large wholesalers
D) multiple intermediaries
E) the company Web site
________ factors are the most popular bases for segmenting customer groups.
A) Geographic
B) Demographic
C) Behavioral
D) Lifestyle
E) Personality
Product mix depth refers to the ________.
A) number of versions offered for each product in the line
B) ways in which the various product lines are related
C) number of different product lines the company carries
D) total number of items a company carries within its product lines
E) total market share captured by the entire product line
In a sequential new product development process, which of the following is true of the
product development step?
A) Product development is usually followed by a business analysis of the product.
B) Product development involves introducing a product into realistic market settings.
C) Product development avoids testing products on actual customers due to liability
concerns.
D) Product development is usually followed by test marketing.
E) Product development helps top management review profit projections.
The first part of a marketing strategy statement describes the ________ of a new
product.
A) planned price
B) marketing budget
C) marketing mix strategy
D) target market
E) planned long-run sales
A refrigerator is an example of a(n) ________ product.
A) convenience
B) shopping
C) unsought
D) specialty
E) capital
Acme Inc., a manufacturer of construction and mining equipment, is based in Australia.
Acme modifies the production processes of its widgets and gadgets to sell its current
products in Eastern Europe. This is most likely an example of a ________ strategy.
A) market penetration
B) market development
C) product diversification
D) business harvesting
E) product development
A company that offers an early bird discount to the first fifty purchasers of a new
product is using the promotional tool of ________.
A) direct marketing
B) public relations
C) advertising
D) personal selling
E) sales promotion
Promoting the use of sustainable ingredients, recycling and reducing solid wastes, and
managing energy consumption relate to the consumer’s right to ________.
A) not buy a product that is offered for sale
B) be well informed about important aspects of a product
C) consume now in a way that will preserve the world for future generations
D) be protected against questionable products and marketing practices
E) influence marketing practices in ways that will improve quality of life
High-pressure selling will most likely work in situations that involve ________.
A) valued customers
B) repeat customers
C) service-based sales
D) one-time sales
E) complex products
Which of the following statements is true of a product sales-force structure?
A) A product sales-force structure is characterized by specialization along product lines.
B) A product sales-force structure is used when a company has only one product line.
C) A product sales-force structure requires every salesperson to be an expert in all the
product categories of the company.
D) A product sales-force structure organizes the sales force along customer or industry
lines.
E) A product sales-force structure uses a single sales force across different product
lines.
Which of the following is a structured method of online research where marketers
require direct responses from customers?
A) online behavioral targeting
B) social media tracking
C) online listening
D) online surveys
E) blog analysis
________ are offers of a trial amount of a product.
A) Cash refunds
B) Price packs
C) Rebates
D) Coupons
E) Samples
Sandy Bayes works at Hilton Brews as a senior sales executive and manages all the key
national accounts of his company. His job involves ensuring that key customers receive
the best service from Hilton Brews. Sandy is also responsible for acquiring new
customers with high consumption needs on a nation-wide basis. Despite his lack of
product specialization in all the product lines, Sandy is hired for this position because of
his excellent interpersonal skills. Hilton Brews has most likely adopted a ________
sales-force structure.
A) product
B) team-based
C) territorial
D) market
E) complex
________ are customers who show low potential profitability and little projected
loyalty.
A) True friends
B) Barnacles
C) Strangers
D) True believers
E) Butterflies
A tax on an imported product designed to raise revenue or protect domestic firms is
referred to as a(n) ________.
A) exchange
B) excise
C) fine
D) quota
E) tariff
Rhonda recently entered into a contractual agreement with StellarCutz, a national chain
of affordable, walk-in hair salons. Under the agreement, Rhonda uses the StellarCutz
trade name and receives support from StellarCutz in terms of business methods and
processes. Rhonda paid a start-up fee to StellarCutz and will pay annual licensing fees
for the use of the StellarCutz brand. Which of the following best describes Rhonda’s
business?
A) franchise
B) factory outlet
C) superstore
D) acquisition
E) joint agreement
Describe the differences between discount stores and off-price retailers.
Briefly describe the steps in the new product development process.
Describe product stewardship, design for environment (DFE), and cradle-to-cradle
practices.
What is marketing? Briefly describe the marketing process.
How has the marketing research industry responded to the intrusion and privacy issues
concerning consumer data?
Identify the major advantages of the following forms of direct marketing: telephone,
direct mail, and digital catalogs.
Describe spam and permission-based e-mail marketing.
What is neuromarketing? How is neuromarketing used by marketers?