Baby boomers are less likely to associate retirement with “the beginning of the end” and
see it instead as a new chapter in their lives with new activities, interests, careers, or
even relationships.
The US government is the largest customer in the world.
Products such as heating and cooling systems are usually sold and maintained by the
company or by franchised dealers.
Firms with low shares of the total market can become highly profitable through smart
niching.
Small sellers concentrate on multilevel in-depth selling instead of reaching the key
buying influencers.
The product descriptor that follows the brand name is often a concise means of
conveying category origin.
An intensive growth strategy involving marketing current products to new markets is a
market-development strategy.
While goods meet personal needs, services meet business needs.
Merchant wholesalers are independently owned businesses that take title to the
merchandise they handle.
Fewer than 10 percent of all new products are truly innovative and new to the world.
Credence qualities of a service are difficult to evaluate before purchase, but easy to
evaluate after consumption.
The appearance of physical facilities, equipment, personnel, and communication
materials are the tangibles that convey service quality to consumers.
Marketers can set communications objectives at any level of the hierarchy-of-effects
model.
In 2012, more than 20 percent of the total workforce worked full time in sales
occupations, both nonprofit and for profit.
Consumers belonging to the same ethnic group have identical tastes and preferences.
Prospect theory maintains that consumers frame decision alternatives in terms of gains
and losses according to a value function.
The desire to eat a Philly cheesesteak, whether or not you are in the position to buy one,
is an example of a demand.
Marketing strategies of firms should not consider the ethnic and racial diversity existing
in their markets.
Which of the following is true of the various elements of the multi-factor index method
of estimating area market potentials?
A) Zip+4 code centers generally have stable boundaries and a population of about 4000.
B) The weights in the buying-power index are somewhat arbitrary.
C) Normally, the lower the BDI, the less room there is to grow the brand.
D) Census tracts are a little larger than neighborhoods.
E) This method is primarily used by business marketers.
Which of the following is a positive factor when considering the development of a
customer database?
A) The product is a once-in-a-lifetime purchase.
B) There is no contact between the buyer and seller.
C) There is a lot of customer churn.
D) The unit sale is very small.
E) Customer lifetime value is high.
________ tracks eye movements with cameras to measure what people read on a
computer screen.
A) Heat mapping
B) An interstitial
C) A pay-per-click ad
D) A click-through rate
E) Animation
A market survey by LG revealed that Indians preferred not to mix vegetarian and
non-vegetarian food items. Hence, LG refrigerators in India include a special
convertible box with separate compartments to store and control the temperature of
vegetarian and non-vegetarian food. This is an example of customizing ________ to
local needs.
A) advertising media
B) product features
C) packaging
D) brand name
E) labeling
When Frank buys his own house, he would like to have a home theater system and a
jacuzzi. He plans to save enough money in the next three years so that he can fulfill his
wish. Frank’s desire for the home theater and the jacuzzi is an example of a(n)
________.
A) need
B) want
C) demand
D) unstated need
E) latent demand
In the purchasing decision process, the major role of ________ is in selecting vendors
and negotiating.
A) gatekeepers
B) buyers
C) initiators
D) approvers
E) deciders
________ is an advertising timing pattern that calls for advertising during a certain
period, followed by a period with no advertising, followed by a second specific period
of advertising activity.
A) Pulsing
B) Continuity
C) Flighting
D) Concentration
E) Frequency capping
A market-penetration pricing strategy is most suitable when ________.
A) a low price slows down market growth
B) production and distribution costs fall with accumulated production experience
C) a high price dissuades potential competitors from entering the market
D) the market is characterized by inelastic demand
E) a low price encourages actual competition
Marriage, childbirth, and divorce constitute the ________ that shape the consumption
pattern of individuals.
A) psychological life cycle
B) product life cycle
C) social status
D) post-puberty cycles
E) critical life events
Relative advantage of an innovation refers to the degree to which ________.
A) it matches the values and experiences of the individuals
B) it is difficult to understand or use
C) it can be tried on a limited basis
D) it appears superior to existing products
E) the benefits of use are observable or describable to others
IBM uses the BANT acronym during which stage of the sales process?
A) prospecting and qualifying
B) sales preapproach
C) sales presentation
D) unearthing objections
E) demonstrating advantages
Many business buyers prefer to buy a total solution to a problem from one seller. This
process is also known as ________.
A) channel consolidation
B) systems buying
C) vertical buying
D) horizontal buying
E) supply buying
The original and oldest form of direct marketing is ________.
A) billboards
B) banner advertising
C) mail campaigns
D) outbound telemarketing calls
E) field sales calls
A manufacturer uses the company’s sales force and trade promotions to carry, promote,
and sell products to end users. Which of the following strategies is this manufacturer
using?
A) personalization strategy
B) tailoring strategy
C) push strategy
D) pull strategy
E) consumer promotion strategy
Which of the following is an example of a business and sales force promotion?
A) advertising allowance
B) free samples
C) contests for sales reps
D) display allowance
E) discount coupons
Briefly describe product specialization and market specialization.
Two major methods of computing area market potential are market build-up method
and multiple factor-index method. Which of these methods will Nexus Enterprises, a
manufacturer of auto parts implement to estimate its market potential?
What are the situations in which guarantees are most effective?
Describe the lexicographic heuristic used to make consumer choices.
Assume that your firm is a market leader in manufacturing detergent. How would the
firm use position defense as a defensive marketing strategy to maintain its share?
How does American Express utilize m-commerce?
A toaster manufacturer who has invested $1 million in the business wants to set a price
to earn a 20 percent return on investment, specifically $200,000. What pricing method
should it choose?