When a consumer considers a product or service, he or she will choose whichever
product or service delivers the highest ________.
A) customer-perceived value
B) customer-perceived cost
C) customer profitability analysis
D) customer equity
E) customer lifetime value
When consumers share a strong need that cannot be satisfied by an existing product, it
is called ________ demand.
A) negative
B) latent
C) declining
D) irregular
E) nonexistent
Matt’s retail store offers all products at $2 less than its competitors. The store never runs
promotional campaigns or offers special discounts. Matt’s retail store is following a(n)
________ pricing policy.
A) auction-type
B) target-plus
C) everyday low
D) high-low
E) going-rate
Which of the following is a form of mass communications channel?
A) interactive marketing
B) personal selling
C) public relations
D) word-of-mouth marketing
E) sales presentations
Which of the following represents the objective of a social marketing campaign aimed
at changing people’s behavior?
A) Motivate people with obesity to eat healthy and exercise more often.
B) Change public attitudes and stereotypes associated with people who are obese.
C) Explain the different causes of obesity and how it can be prevented.
D) Encourage people to participate in a walkathon aimed at promoting awareness about
obesity.
E) Attract people with obesity to sign up for a one-time free medical check up.
A ________ is an organized collection of comprehensive information about individual
customers or prospects that is current, accessible, and actionable for lead generation,
lead qualification, sale of a product or service, or maintenance of customer
relationships.
A) customer database
B) customer mailing list
C) customer-performance scorecard
D) customer profitability analysis
E) customer-value hierarchy
Sometimes a rise of only 10 percent in consumer demand can cause as much as a 200
percent rise in business demand for products for the next period. This is an example of
________.
A) inelastic demand
B) direct purchasing
C) fluctuating demand
D) derived demand
E) a straight rebuy
Winstar is a large-scale manufacturer with more than a hundred partners across the
globe. When making decisions concerning distribution and channel optimization, the
company invites members from its channel partners to be part of its advisory
committee. This helps the company maintain harmony with its partners. Which of the
following conflict resolution techniques is Winstar using?
A) diplomatic counselling
B) mediation
C) arbitration
D) co-optation
E) joint membership
Sites such as Bizrate.com, Shopping.com, and PriceGrabber.com, and Epinions.com
and Yelp.com, which let customers share information about their product and service
experiences with others, reflect an increase in customer ________.
A) ambiguity
B) empowerment
C) privacy
D) diplomacy
E) empathy
Amity Inc. is a firm which collects and processes household data and sells it to other
firms which produce consumer durables. Amity is an example of a ________ research
firm.
A) custom marketing
B) specialty-line marketing
C) syndicated-service
D) generic marketing
E) focused marketing
Which of the following is a marketing advantage of strong brands?
A) no vulnerability to marketing crises
B) more elastic consumer response to price increases
C) guaranteed profits
D) additional brand extension opportunities
E) more inelastic consumer response to price decreases
Rick Johnson trains his company’s sales force to target the consumer. He repeatedly
asks his team to bear in mind the fact that it is the sales team’s responsibility to rouse
the consumer’s interest and make the consumer feel that he or she needs the product. A
true salesman is one who can convert an indifferent consumer walking into the store
into a new customer. Johnson believes in the ________ concept.
A) product
B) production
C) selling
D) marketing
E) social responsibility
Services high in ________ qualities have characteristics that the buyer can evaluate
after purchase.
A) privacy
B) experience
C) credence
D) search
E) stock
Which of the following is true about proactive marketing?
A) A company needs creative anticipation to see the writing on the wall.
B) Proactive companies create new offers to serve unmet and unknown consumer
needs.
C) Proactive companies refrain from practicing uncertainty management.
D) A company needs responsive anticipation to devise innovative solutions.
E) Companies are winners when they are extremely risk-averse.
________ requires that everyone in the organization accept the concepts and goals of
marketing and engage in choosing, providing, and communicating customer value.
A) Internal marketing
B) Corporate communications
C) Integrated marketing communications
D) Supply chain management
E) Employee engagement
Even if sales of a brand extension are high and meet targets, the revenue may be
coming from consumers switching to the extension from existing parent-brand offerings
‘” in effect ________ the parent brand.
A) diluting
B) cannibalizing
C) reinforcing
D) eroding
E) revamping
A firm that is based in France designs jewelry and takes custom orders from around the
world. They do not design more than 15 pieces of jewelry in a year and ensure that each
design uses unique stones and is unique. Such nichemanship is an example of ________
specialist role.
A) customer-size
B) product
C) product-feature
D) job-shop
E) quality-price
Which of the following characteristics is closely associated with late majority adopter
groups?
A) superior technological knowledge
B) low price sensitiveness
C) opinion leadership
D) deliberate pragmatism
E) high risk aversion
Explain risk and gain sharing with the help of an example.
People can emerge with different perceptions of the same object because of three
perceptual processes. List and briefly describe these processes.
Although we can make distinctions between them, different generational cohorts also
influence each other. Give an example of this.
Who is a market-nicher?
Briefly explain the concept of annual-plan control.