In the context of developing an effective customer relationship management system, the
use of big data analytics is restricted to the storage and integration of customer data.
a. True
b. False
Answer:
Hispanic Americans:
a. prefer to buy American products rather than brands found in their homelands.
b. are much older than the general U.S. population.
c. believe that the traditional family is the main building block of a healthy community.
d. make the most homogenous ethnic group.
Answer:
Social media measurements are meaningless if:
a. they require further processing.
b. they are tied to performance indicators.
c. they are taken from many sources.
d. they lack context.
Answer:
Once marketing managers have determined a global product and promotion strategy,
they can select the remainder of the marketing mix. However, entry into many
developing nations presents special pricing problems because:
a. the rate of capital accumulation exceeds the rate of population growth.
b. there is always an expectation of countertrade by developing countries.
c. the demand for low quality products is very less compared to developed countries.
d. there is a lack of mass purchasing power.
Answer:
Turner Electronics is a ten-year-old company. In the past decade, the company hasn’t
created any innovative products that have helped set it apart from the rest of its
competitors. However, when any of its products need to be repaired or fine-tuned, it
offers its customers top-notch product checks. As a result, the company has managed to
retain its wide customer base. Which of the following strategies is Turner Electronics
using in this scenario?
a. Product development
b. Diversification
c. Market penetration
d. Service differentiation
Answer:
Many companies offer ethics training to employees and have codes of ethics that help
guide buyers and sellers in business.
a. True
b. False
Answer:
_____ occurs when a firm refuses to meet specific obligations or fails to change when
new situations arise.
a. Intensive distribution
b. Passive opportunism
c. Co-opetition
d. Cooperation
Answer:
Kriyoto Inc. is a retailer of printers, scanners, and other office equipment. It announced
a cash refund for corporate purchases in quantities more than ten. Rick purchased ten
color printers for his office from Kriyoto during this sale. To avail the cash refund, he
had to mail in a proof of purchase, purpose of purchase, proof of his company’s legality,
and his cash register receipt. In this case, Rick has received a:
a. premium.
b. trade allowance.
c. push money.
d. rebate.
Answer:
Synergy Corp. is large seller of energy-efficient bulbs that uses extensive promotional
strategies to stimulate sales. Synergy has noticed that a competitor is doing well and is
steadily gaining a large market share. The marketers at Synergy want to counter the
competitor immediately by increasing the sales of its bulbs. What quick step can
Synergy take to stimulate the sales of its products?
a. Change the pricing strategy
b. Adopt new production techniques
c. Enter into new supplier contracts
d. Adopt a divesting strategy
Answer:
According to the gap model of service quality, which of the following is true of gap 1?
a. It results from a lack of understanding or a misrepresentation of customers’ needs,
wants, or desires.
b. It results from management’s inability to translate customers’ needs into delivery
systems within the firm.
c. It can result in misleading or deceptive advertising campaigns promising more than
the firm can deliver.
d. It can be corrected by training employees so that they know what management
expects and encouraging teamwork.
Answer:
Which of the following is a difference between private-sector organizations and
nonprofit organizations?
a. Private-sector organizations often adopt undifferentiated strategies, while nonprofit
organizations adopt differentiated strategies.
b. Private-sector organizations must complement the efforts of nonprofit organizations,
while nonprofit organizations must compete with the efforts of private-sector
organizations.
c. Private-sector organizations prioritize market segments that are most likely to
respond to particular offerings, while nonprofit organizations target those who are
apathetic about receiving their services.
d. Private-sector organizations often market complex behaviors or ideas, while
nonprofit organizations do not market complex behaviors or ideas.
Answer:
The surge in global trade in recent years has added to strains and charges for all forms
of transport.
a. True
b. False
Answer:
Which of the following statements is true about the Hispanic consumer market?
a. The United States’ Hispanic consumer market is now larger than all world economies.
b. Hispanics prefer purchasing local products than their native products.
c. Over the last decade, the largest growth in the Hispanic population has come from
immigration, not births.
d. Hispanics accounted for most of the population growth in the 2010 Census.
Answer:
Apart from long-term company profits, the major aim of customer relationship
management (CRM) is to:
a. implement concentrated targeting strategies.
b. optimize customer satisfaction.
c. reduce personalization of products according to customers’ needs.
d. minimize the use of database technology.
Answer:
Which of the following statements is true in the context of social media?
a. Social networking is part of regular life for people of all ages.
b. Social media seldom influence the buying behavior of consumers.
c. The majority of forty-five and older place a high value on social network
information.
d. Social media have limited opinion sharing about companies.
Answer:
TwitPic, Flickr, and Photobucket are all examples of:
a. media sharing sites.
b. corporate blogs.
c. virtual worlds.
d. microblogs.
Answer:
Which of the following is true of mass customization?
a. It results in a lower cost to firms when compared to standardized services.
b. It results in giving each customer whatever he or she asks for.
c. It is useful only to service firms and not to manufacturing firms.
d. It is based on the tenet that the needs, wants, or desires of all customers are the same.
Answer:
A freestanding store can become successful by:
a. reducing the number of salespeople.
b. moving to an isolated location.
c. attracting customers from nearby competitors.
d. becoming a destination store.
Answer:
A _____ channel enables a consumer to return a product when it reaches the end of its
useful life.
a. gray marketing
b. reverse
c. nontraditional
d. traditional
Answer:
Which of the following is a social factor that can influence consumer buying decisions?
a. A social class
b. Gender
c. A reference group
d. Perception
Answer:
A key strategy to effectively market to teens is to engage them through promotions that
get them involved.
a. True
b. False
Answer:
Which of the following strategies illustrates a market orientation?
a. Targeting the average consumer
b. Implementing centralization
c. Increasing overhead production costs
d. Creating customer value
Answer:
The practice of returning production jobs to the United States is known as _____.
a. outsourcing
b. international franchising
c. licensing
d. inshoring
Answer:
__________is the largest Latin American trade agreement and includes Argentina,
Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.
Answer:
The United States’ Hispanic consumer market is now larger than all but thirteen world
economies.
a. True
b. False
Answer:
Determining a target market is not a prerequisite to creating the retailing mix.
a. True
b. False
Answer:
Which of the following is true of goods?
a. They can be produced in a centralized location and be consumed in decentralized
locations.
b. They tend to be less tangible than services.
c. They need to be produced, sold, and consumed at the same time as they are highly
perishable.
d. They tend to be less standardized and uniform than services.
Answer:
LinkedIn is designed to be more multimedia-rich rather than information-rich.
a. True
b. False
Answer:
Marketing strategies for a product remain the same irrespective of the level of
involvement associated with the product.
a. True
b. False
Answer:
Demographics are significant because they facilitate the study of people’s purchasing
power and educational attainment.
a. True
b. False
Answer:
Which of the following statements is true of strategic business units (SBUs) of an
organization?
a. They typically have strategies of their own.
b. Their functions are limited to manufacturing.
c. They typically serve the same target markets as the other SBUs of the organization.
d. They do not have missions of their own.
Answer:
When LofoniftInc. introduced its flagship product, an MP3 player, it captured the MP3
player market by offering its product at the lowest price in the market.This forced many
of its competitors out of business. In this scenario, LofoniftInc. most likelyindulgedin
_____.
a. predatory pricing
b. price discrimination
c. status quo pricing
d. price fixing
Answer:
A small increase or decrease in consumer demand can produce a much larger change in
demand for the facilities and equipment needed to make the consumer product. This is
known as__________.
Answer:
Marketers at Libra Electronics are developing strategies to increase product sales. The
marketers want to use a good blend of digital advertising and print advertising. This
implies that the marketers at Libra Electronics are working on__________strategies.
Answer:
Cloyd’s Supermarket, a popular retail store, sells a variety of products. In order to know
if they should improve their services, they send out questionnaires to their frequent
customers. The questionnaire requires the customers to explain what they like best
about shopping at Cloyd’s and what new products or services they expect from Cloyd’s.
These questions are an example of__________questions.
Answer:
List and describe the three levels of ethical development.
Answer:
__________is the process by which meanings are exchanged or shared through a
common set of symbols.
Answer:
Jeni’s Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice
cream on the market. This product has entered the__________stage of new-product
development process.
Answer:
Alpha Beta Inc. is a self-service shop that offers a wide variety of foods and household
products, organized into aisles. Alpha Beta is a__________.
Answer:
Hydralicious, a juice outlet, had to stop its business as health inspectors found that the
storage facilities at the outlet were not hygienic as per standards set by the government.
A__________factor affected Hydralicious in this scenario.
Answer:
Discuss the diversification strategy.
Answer:
Silver Line Electronics Inc. uses technology to produce laptops and other gadgets in
bulk based on each individual client’s specific needs and requirements. This is an
example of__________.
Answer:
__________is the cost of reaching one member of the target market.
Answer:
A__________sample is a sample in which every element in the population has a known
statistical likelihood of being selected.
Answer:
Monette has posted over 100 book reviews on Amazon.com. She also frequently
reviews products and services on Epinions and posts her reviews of local restaurants on
Yelp. As a social media user, Monette would best be characterized as a__________.
Answer:
Explain Maslow’s hierarchy of needs.
Answer:
Governments can help all businesses by__________.
Answer:
__________is the effort to capture media attentionfor example, through articles or
editorials in publications or through human-interest stories on radio or television
programs.
Answer:
A__________channel enables a consumer to return a product when it reaches the end of
its useful life.
Answer:
Aztic Inc., a manufacturer of sports goods, plans to expand its operations to a new
country. As part of this expansion, it determines whether the population of the country
is primarily rural or urban. In this case, Aztic Inc. is assessing the__________of the
country.
Answer: