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Brands increase information search costs.
Price fluctuations in the Internet are slow compared to price increases offline.
Manufactured products are low in search attributes.
For industrial products and services, the marketing manager can determine the customer
and competitor targets by consulting product sales literature, his own sales force, and
trade advertising.
A large number of competitors are present in a market during the introductory stage of a
product life cycle.
Channel-originated promotion events are run by the channel itself, either to the next
channel in the distribution chain or to final customers.
Generally, the time frame required for new task purchase is very short.
Product form or product category competition is inward oriented.
Market segmentation is irrelevant in industrial marketing.
Customers who fall under the terrorist group have high satisfaction but high switching
rates as well.
Which of the following statements is true about perceived value?
A) A single perceived value exists in the marketplace.
B) When the price of a product is higher than the perceived value, it is known as value
pricing.
C) Perceived value is always relative.
D) Perceived value is standard across customers with similar purchasing power.
Which of the following usually describes a companys major business thrusts, customer
orientation, or business philosophy, in general terms?
A) value proposition
B) marketing mix
C) mission statement
D) product positioning
Why is ubiquitous marketing concept considered to be dangerous?
A) It has a negative impact on the performance of marketing department.
B) It would result in increased costs for the company.
C) It would reduce the importance of a distinct marketing department.
D) People from other departments may refrain from marketing efforts.
A software companys management did not respond though they knew that computer
software customers want quick response to phone calls. Identify the type of gap that has
occurred here.
A) the gap between customers expectations and management perceptions
B) the gap between managements perceptions and service quality specifications
C) the gap between service quality specifications and service delivery
D) the gap between service delivery and external communications
A firms entrance into various sporting goods categories (e.g., in-line skates) fits into
this new product category.
A) classically innovative products
B) new category entries
C) line extensions
D) improved products
Full cost plus some target margin are used to set price in a:
A) customer-driven firm.
B) nonmarket-driven firm.
C) market-driven firm.
D) share-driven firm.
Which of the following statements is not consistent with the marketing concept?
A) The focus of a business is not profits but customers.
B) A business should have competitor focus.
C) Customer needs should be served at all costs.
D) A business need not serve unprofitable customer segments.
________ needs are the operational needs related to the engineering aspect of making
the product.
A) Primary
B) Secondary
C) Tertiary
D) Biological
Which of the following characterizes the maturity stage of the product life cycle?
A) competition is intense and the products are fairly similar in terms of their
characteristics
B) new competitors rapidly enter the market and product growth increases
C) potential consumers are unaware of the features and benefits of the product
D) competition begins to exit the category rapidly to find other sources of investments
Identify the correct statement about transaction buyers.
A) They are interested in a long-term relationship with the seller.
B) They are interested only in the particular purchase at hand.
C) These customers are interested in the benefits of interdependency between the buyer
and the seller.
D) Their loyalty to a supplier is based on the value of maintaining a relationship with
the supplier.
________ is one of the two approaches to measuring brand equity and these represent
how customers have actually responded to the brand.
A) Response measures
B) Intermediate measures
C) Psychological measures
D) Behavioral measures
Which of the following best describes a persons natural ability to sell?
A) skill to sell
B) attitude to sell
C) aptitude to sell
D) expertise to sell
Which of the following most likely indicates poor product quality?
A) high awareness and a low trial rate
B) a high trial rate with a low repeat rate
C) low awareness and a high repeat rate
D) a low trial rate and a high repeat rate
Which of the following statements is true about an indirect channel?
A) The company has a direct contact with the end customers.
B) The product or service remains under the control of the company from production to
customer.
C) Indirect channels can reach more customers and perform functions that the sales
force cannot.
D) The message given to the customers by the channel is entirely controlled by the
organization.
The purpose of a penetration pricing strategy during the introduction stage of the
product life cycle is to:
A) maximize profits.
B) build market share and a broader market.
C) build customer loyalty.
D) enhance the brand image.
List and briefly describe some of the approaches for improving the cooperation between
marketing and R&D.
Discuss briefly global considerations in market research.
List the main considerations for the "fit" of a brand extension to the parent brand
category.
Summarize the basic characteristics of services.
List and briefly describe the general types of informational appeals.
Discuss the three general characteristics mentioned in the textbook for developing a
competitive advantage for a firm.
Describe the primary customer-based metrics.
