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Another name for physiological risk is safety risk.
Answer:
Most B2B buying situations can be categorized into three categories: new buys,
structured rebuys, and automatic rebuys.
Answer:
Even the best marketing communication can be wasted if the sender does not gain the
attention of the consumer.
Answer:
The next broad wave of mobile applications is likely to center on "m-wallets" which
will enable customers' smartphones to be used for wireless payments.
Answer:
Brands enable customers to quickly differentiate one firm or product from another.
Answer:
One of the key characteristics of brainstorming sessions is that bad ideas should be
immediately rejected so the group can focus its attention on good ideas.
Answer:
Value is what you get for what you give.
Answer:
The introduction stage of the product life cycle is characterized by negative or low
profits.
Answer:
Because consumers are generally more sensitive to price increases than to price
decreases, it is easier to lose current customers with a price increase than it is to gain
new customers with a price decrease.
Answer:
Customers are more likely to talk about service that exceeded their expectation than
about service that did not meet their expectation.
Answer:
A disadvantage to using secondary data is that it might not be precisely relevant to the
information needed.
Answer:
A well-designed social media marketing offer will have a clear call to action aimed at
customers.
Answer:
Pricing strategies should be aligned with a firm's overall goals and objectives.
Answer:
On the diffusion of innovation curve, the late majority is the final group of buyers who
like to avoid change and rely on traditional products until they are no longer available.
Answer:
When making an important purchase, consumers often consult friends and family. This
is considered an external search for information.
Answer:
American Airlines just reduced its fares for summer flights by $100. Delta Airlines
changes its pricing structure and reduces its flights by $100 as well. Delta is employing
status quo pricing.
Answer:
Rachael is visiting colleges before applying to schools. Rachael is likely to be involved
in an impulse buying process.
Answer:
Once the marketing strategy is implemented, controls must be in place to be certain that
the firm has actually done what it has set out to do.
Answer:
A decrease in a company's product depth will always hurt its marketing efforts.
Answer:
Wholesalers are often used in an indirect marketing channel.
Answer:
Sales of private-label brands continue to decline in the United States, particularly in
big-box stores such as Costco.
Answer:
Pam didn't go see the movie Gravity because her friends all said she wouldn't be able to
handle it. When she found out how good it was, she blamed her friends. Pam is
demonstrating an internal locus of control.
Answer:
The larger and more sophisticated the channel member, the more likely that it will use
supply chain intermediaries.
Answer:
Before conducting marketing research, it is important to establish in advance exactly
what problem needs to be solved.
Answer:
Frequency describes the percentage of the target population exposed to a specific
marketing communication, such as an advertisement, within a specified period of time.
Answer:
Entering into a global franchise agreement exposes a company to higher risk than if the
company had entered into direct investment in the country.
Answer:
The best-known microblogging site is Google+.
Answer:
Isaac wants to measure the effectiveness of his company's advertising campaign. To do
so, Isaac will have to assess elements of the campaign before, during, and after the
campaign runs.
Answer:
Exporting refers to a situation where a company maintains ownership of its plants,
operational facilities, and offices in a foreign country in which it sells its products.
Answer:
Quick response (QR) systems allow retailers to maximize their inventory holdings.
Answer:
Using intermediaries in global distribution networks generally lowers costs and prices
for products.
Answer:
A firm just starting out usually has the option of choosing from whom it buys and to
whom it sells.
Answer:
A delivery gap always results in a service failure.
Answer:
Though advertising experts wish it were true, there is not always a direct link between a
particular marketing communication and a consumer's purchase.
Answer:
As the number of communication media has increased, the task of understanding how
best to reach target customers has become easier.
Answer:
The maturity phase of the product life cycle is characterized by greatly reduced
competition.
Answer:
Pure competition occurs when there are many firms competing for customers in a given
market but their products are differentiated.
Answer:
In addition to merchandise and payments, information flows throughout a supply chain.
Which of the following is not a good characterization of the flow of information in a
supply chain?
A. A manufacturer will send and receive information from buyers, stores, and
distribution centers.
B. Stores will send and receive information from manufacturers, buyers, distribution
centers, and customers.
C. Distribution centers will send and receive information from stores and
manufacturers.
D. Customers will send and receive information from stores and manufacturers.
E. Buyers will send and receive information from stores and manufacturers.
Answer:
Trade shows are a particularly good source of B2B sales leads because
A. they are open to the general public.
B. they are almost always sanctioned by the government.
C. people who attend are interested in the products and services being offered.
D. consumers tell retailers which shows to attend.
E. they are an inexpensive way to generate leads.
Answer:
Which of the following are the two components of a global marketing strategy?
A. understanding foreign currency fluctuations and developing products that can be
priced accordingly
B. determining which target markets to pursue and developing a marketing mix to
obtain a competitive advantage
C. understanding the supply chain and distribution networks in foreign markets
D. developing culturally appropriate advertising messages and cultivating "domestic"
habits among foreign consumers
E. adapting to foreign regulations and targeting as many people as possible
Answer:
The three types of buying situations
A. create confusion among B2B sellers.
B. suggest that B2B sellers should develop one marketing mix to use for all situations.
C. require business sellers to be consistent in their marketing mixes.
D. are theoretical and have little relation to what happens in the real world.
E. call for different marketing and selling strategies.
Answer:
Once the marketing communication has captured the interest of its target market, the
goal of subsequent IMC messages should be to move the consumer from
A. "I want it" to "I like it."
B. action to desire.
C. "I like it" to "I want it."
D. interest to awareness.
E. feeling to thinking.
Answer:
The final step in the process of creating a social media campaign is to
A. develop a budget.
B. identify the target audience.
C. set goals.
D. design the elements of the campaign.
E. monitor the program.
Answer:
A(n) __________ is a need or want strong enough to cause a person to seek
satisfaction.
A. locus of control
B. motive
C. attitude
D. perception
E. learning curve
Answer:
If there is a difference between the actual service provided to customers and the service
the firm has promoted, a __________ gap exists.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
__________ factors, such as the purchase situation, often override or influence
psychological and social issues influencing consumers' purchase decisions.
A. Situational
B. Extended habitual
C. Postpurchase dissonance
D. Interpersonal
E. Economic
Answer:
When conducting a SWOT analysis, in what phase of the strategic marketing process is
an organization presently engaged?
A. planning
B. implementation
C. control
D. segmentation
E. metrics
Answer:
If a marketing researcher has to collect data under severe time constraints, which of the
following types of data sources would probably be available soonest?
A. syndicated data
B. focus group data
C. experimental data
D. panel data
E. survey data
Answer:
A __________ can be used to create positive word of mouth, help customers form a
community, and develop long-term relationships between customers and the company.
A. corporate blog
B. faxed newsletter
C. Super Bowl ad
D. full-page ad in selected newspapers
E. public relations campaign
Answer:
The shared meanings, beliefs, morals, values, and customs of a group of people
constitute its
A. reference group.
B. family.
C. culture.
D. cognitive frame.
E. evoked set.
Answer:
Because services like cruises and car rentals are perishable, many marketers use
A. pricing strategies to match supply with demand.
B. service quality to extend the life of the product.
C. incentives to encourage staff to deliver according to standards.
D. training to standardize delivery.
E. machines to replace people for standard transactions.
Answer:
Which of the following best describes the direct investment global entry strategy?
A. With direct investment, a firm maintains total ownership of its plants, operation
facilities, and offices in a foreign country.
B. Direct investment occurs when a firm enters a new market by pooling its resources
with those of a local firm to form a new company in which ownership, control, and
profits are shared.
C. Direct investment refers to depositing payroll funds in a foreign bank.
D. Direct investment designates the maximum quantity of a product that may be
brought into a country during a specified time period.
E. Direct investment occurs when a producer sells its offering in a foreign market at a
price less than its production cost.
Answer:
After a firm has identified the various stakeholders and their issues and gathered the
available data, all parties relevant to the decision should engage in brainstorming and
evaluating alternatives. __________ then review and refine these alternatives, and
choose a course of action.
A. Managers
B. The firm's lawyers
C. Key customers
D. Community leaders
E. All stakeholders
Answer:
George wants to increase the number of visits to his insurance firm's website, which
specializes in rental insurance for college students. George decides to target Internet
browsers who use the terms apartment, insurance, and student. Which of the following
will be most helpful to George?
A. Twitter
B. corporate blog
C. Google AdWords
D. Google Chrome
E. Google Analytical Thinking
Answer:
Martin has hired a marketing research company to bring together a small group of soft
drink consumers and get feedback on the three new advertising slogans his firm is
considering. The marketing research firm might conduct a(n) __________ to provide
the information Martin has requested.
A. industry survey
B. experiment
C. focus group
D. observational study
E. primary data mining analysis
Answer:
Because they do so much driving while visiting doctors' offices and hospitals,
pharmaceutical sales representatives are often given company cars to drive. When a
pharmaceutical company like Merck is preparing to purchase new company cars, sales
reps' feedback will be sought on car models and features, but the final decision will be
made by higher levels of management. What role(s) do the sales reps play in the buying
center?
A. users
B. initiators
C. influencers
D. users and influencers
E. users and initiators
Answer:
P&G's Tide laundry detergent has been around since 1948 and is still a market leader.
P&G has used __________ advertising to reposition Tide several times over the
product's life cycle, trying to motivate new consumer segments to use the product.
A. informative
B. persuasive
C. social marketing
D. emotional
E. institutional
Answer:
In which buying situation is the buyer most likely to proceed through all six steps in the
buying process?
A. new buy
B. modified rebuy
C. straight rebuy
D. generic buy
E. adapted buy
Answer:
Craig sees that his company's quarterly sales and profits are significantly above
projections and says, "That's great. Let's keep doing what we've been doing." Craig is
ignoring the __________ step of the marketing planning process.
A. evaluate performance
B. define the business mission
C. perform situation analysis
D. implement marketing mix and resources
E. identify and evaluate opportunities
Answer:
Retailers often perform ticketing and marking functions in their distribution centers
rather than in their retail stores because ticketing and marking is often
A. the responsibility of the dispatcher.
B. too complex for sales personnel to manage.
C. done in conjunction with supply chain promotional allowances.
D. the responsibility of the logistics department and not the marketing department.
E. inefficient and expensive.
Answer:
The California Raisin Advisory Board used to run ads featuring "The California
Raisins," a fictitious R&B musical group composed of dancing raisins that boogied to
the song "I Heard It Through the Grapevine." The ads, which were hugely popular and
which gave rise to a line of raisin-themed merchandise, were designed to encourage
raisin consumption. This campaign was an example of
A. product-focused advertising.
B. consumer-generated advertising.
C. public service announcements.
D. institutional advertising.
E. push strategies.
Answer:
Unusual and exciting displays like Bass Pro Shops' climbing wall and stocked aquarium
are examples of
A. promotional discounts.
B. traditional media gimmicks.
C. mobile marketing.
D. in-store promotions.
E. co-op advertising.
Answer:
Marketers often use focus groups to learn how consumers interpret their IMC messages.
Experience has shown that
A. effective branding requires marketers to encode messages identically for each
market.
B. each receiver decodes IMC messages in his or her own way.
C. action is taken before desire and interest are determined.
D. marketers can almost always use the same message for all audiences.
E. messages are decoded in the manner intended by the encoder.
Answer:
The first step in the STP process is to
A. identify the segmentation methods to be used.
B. produce a list of strengths and weaknesses of the firm's past marketing strategies.
C. clearly articulate the firm's vision or marketing strategy objectives.
D. select target markets.
E. develop a marketing mix, so that an appropriate segment can later be identified.
Answer:
_______ refers to the process of evaluating and selecting the _______.
A. Advertising; media buy
B. Media planning; media mix
C. Promotion planning; advertising mix
D. Media buying; media mix
E. Media mixing; media buy
Answer:
One of the disadvantages associated with personal selling is
A. cold calling is easier than direct mail advertising.
B. a salesperson often changes the message based on consumers' needs.
C. it is expensive.
D. it can be directed toward those customers with the highest potential.
E. it is structured and finite.
Answer:
For years, the Mogul Sheraton, a four-star hotel overlooking the Taj Mahal in India,
offered free elephant and camel rides to hotel visitors. Few customers took advantage of
this service. This is an example of a __________ gap in services marketing.
A. seniority
B. knowledge
C. standards
D. delivery
E. communication
Answer:
The sender of an integrated marketing communication
A. must work with the advertising specialists to ensure all recipients interpret the
message accurately.
B. can assess the manner in which receivers interpret the message through gross rating
points.
C. has little control over what meaning any individual receiver will take from the
message.
D. controls the meaning all receivers take from the message.
Answer:
Darrell saw a review of the new Love CD produced in collaboration with Cirque du
Soleil and has decided he has to have it. At which stage in the AIDA model is Darrell?
Answer:
Define horizontal channel conflict.
Answer:
Why would a researcher want to change the sequence of steps in the marketing research
process?
Answer:
Rodney bought a suit at Men's Wearhouse. Men's Wearhouse bought the suit from a
distributor, which bought it from a designer. The designer bought the materials to make
the suit from a factory in China, and the suits were made at that same factory. The
employees in the factory bought their suits directly from the factory and sold them to
their friends. Explain which of these transactions were B2B, B2C, and/or C2C.
Answer:
As the text explains, Nike, the prominent athletic shoe manufacturer, relies heavily on
athlete sponsorships to build demand for its products. Spectators at major sporting
eventsboth those attending in person and those watching at homefrequently see the
Nike 'swoosh" logo worn by elite athletes. Given the vast worldwide audience for
Olympics broadcasts, an Olympic year gives Nike increased exposure. On a Nike
situation analysis in an Olympic year, would you consider this exposure to be a strength
or an opportunity? Explain your reasoning; be specific.
Answer:
When looking to purchase a mobile phone, describe the components that make up the
total product.
Answer:
Tyrone runs an ice cream shop on the pier in Atlantic City, New Jersey. Tyrone closes
his business in winter, when the weather turns cold. Which type of advertising schedule
should Tyrone use?
Answer:
Jackson owns a bike rental business at a resort destination. He is looking at the number
of upcoming bookings to the resort to help him figure out how many new bikes to
purchase for next season. What type of demand is he facing?
Answer:
Whenever major golf professionals use a new piece of golf equipment, sales of that
equipment jump rapidly. Which type of social influence do PGA and LPGA
professionals represent for average golfers?
Answer:
During a recent budget cutting session, the finance manager at Eastern Shore Bank
proposed eliminating the marketing research budget. You are the marketing director.
What general arguments would you use to defend expenditures on marketing research?
Answer:
Explain the concept of reverse innovation by giving an example of this practice.
Answer:
What types of sales promotions would a marketer consider if the goal is to build
short-term sales?
Answer:
There is an old advertising adage "I know I'm wasting half of my advertising budget. I
just don't know which half." What is the lagged effect? How does it contribute to the
dilemma of attempting to determine which advertising has an impact and which
doesn't?
Answer:
Natalie is designing a primary package for her new peanut butter popcorn. From a
consumer's perspective, what should the packaging provide?
Answer:
Arden, a sales manager for a Best Buy electronics store, is putting together a training
seminar for his sales force. He wants to use the five dimensions of service quality to
emphasize the importance of follow-up in the selling process. Create an example of
each of the five service quality dimensions that Arden could use in training his Best
Buy sales staff.
Answer:
Which type of advertising scheduling would you recommend for your university, and
why?
Answer:
Your text notes that in the future, RFID tags may replace UPC tags. Why is this so?
Answer:
Belinda is opening an upscale outdoor cooking equipment store. No other store in her
market area carries similar items. Belinda is counting on her product line differentiation
to distinguish her business from the competition. What problem might Belinda
encounter?
Answer:
Which step in the new product development process is the most critical to the survival
of a firm, and why?
Answer:
