Relationship marketing requires a company to make both a ________ and a ________.
A. short-term plan; transactional plan
B. short-term plan; data mining plan
C. long-term plan; proper investment of company resources
D. long-term plan; formal CRM commitment
E. formal CRM commitment; data mining plan
________ refers to practices that combine economic growth with careful stewardship of
a society’s natural resources and the environment.
A. Boycotting
B. Puffery
C. Franchising
D. Ethical marketing
E. Sustainability
You want to find out whether Americans between 21 and 40 years of age tend to vote
Democratic and whether Americans between 41 and 70 tend to vote Republican. You
will most likely use a ________ sample to collect your data.
A. simple random
B. skip interval
C. stratified
D. snowball
E. convenience
In CRM, findings about customers discovered through ________ techniques often lead
to marketing opportunities.
A. data collection
B. data mining
C. customer satisfaction
D. customer loyalty
E. customer value
________ ventures occur when a company joins forces with foreign investors to create
a local business of its own.
A. Joint ownership
B. Licensing
C. Contract manufacturing
D. Franchising
E. Indirect exporting
A product that has entered the decline stage could most likely be cycled back to the
growth or maturity stage through ________.
A. promotion or repositioning
B. concept testing
C. business analysis
D. a penetration strategy
E. a skimming strategy
Every consumer brand strives to be both ________ and ________.
A. widely available; low-cost
B. relevant; unique
C. unique; widely available
D. relevant; low-cost
E. low-utility; unique
________ are items that are used and not retained by a consumer.
A) Services
B) Demands
C) Products
D) Promotions
E) Utilities
A company’s ________ is the minimum amount of financial return it requires before it
will make a financial investment.
A. copy test
B. score card
C. report card
D. hurdle rate
E. tipping point
Which of the following market entry strategies requires the lowest level of investment
from a company?
A. indirect exporting
B. direct exporting
C. joint venture
D. joint ownership
E. direct investment
A document that defines the operational and financial objectives of a business over a
specific time period is a ________.
A. business mission
B. business vision
C. marketing strategy
D. business plan
E. marketing plan
Brand tracking studies measure the interplay between ________ and ________.
A. brand personality; brand health
B. brand attributes; brand personality
C. marketing communications; revenue
D. marketing communications; brand health
E. brand health; revenue
A producer that minimizes possession time would be most likely to expect which of the
following benefits?
A. better information flows among channel members
B. more easily accessible storage locations
C. greater production capability
D. reduced horizontal conflict
E. reduced vertical conflict
Stop-N-Go and Circle K, small stores that traditionally have had a market of consumers
who are willing to pay a higher price for the ease of buying staples close to home, are
________.
A. specialty stores
B. convenience stores
C. supermarkets
D. superstores
E. off-price retailers
When a company calculates ________, the company looks at how much profit it
expects to make from a particular customer, including each purchase he will make from
the company now and in the future.
A) customer lifetime value
B) customer relationship management
C) utility
D) the exchange function
E) the marketing mix
Life cycle direct marketing is most likely to be used through which of the following?
A. infomercials
B. direct-response TV
C. email
D. telemarketing
E. direct-response advertising
Truck jobbers are limited-service merchant wholesalers who would most likely handle
which of the following?
A. building materials
B. fruits and vegetables
C. coal and lumber
D. cosmetics
E. magazines
Porter’s Five Forces of Competitive Position Model is used to determine where power
exists in a company’s ________.
A. internal environment
B. business market
C. consumer market
D. microenvironment
E. macroenvironment
Successful business objectives can be expressed by the mnemonic ________.
A. S.M.A.R.T.
B. R.O.M.I.
C. B.C.G.
D. S.W.O.T.
E. P.P.P.P.
A ________ is a physical facility used primarily for the storage of goods held in
anticipation of sale or transfer within the marketing channel.
A. stock-keeping unit
B. wholesaler
C. retail outlet
D. warehouse
E. showroom
Kyrgyzstan is a small, poor, mountainous country with a predominantly agricultural
economy. Cotton, wool, and meat are the main agricultural products and exports.
Fifty-one percent of the population lives in poverty. Kyrgyzstan is an example of a(n)
________.
A. BRIC country
B. subsistence economy
C. industrializing country
D. raw materials exporting economy
E. post-industrial economy
A hickory rocking chair, handmade by an Amish woodcarver in Lancaster,
Pennsylvania, from locally grown wood is an example of a ________.
A. convenience product
B. shopping product
C. specialty product
D. service
E. core product
In the BCG matrix, income from ________ can be used to help finance the company’s
question marks and stars.
A. dogs
B. cash cows
C. SWOTs
D. overseas operations
E. low-share businesses
In Kotler’s 4 Cs model, ________ takes the place of promotion in the 4 Ps.
A. customer value
B. channel
C. credit
D. communication
E. convenience
Lyall Electric, Inc., maintains a sales force for its small appliance customers and a
separate sales force for its automotive customers. Lyall Electric utilizes a(n) ________
sales force organization.
A. intensive
B. geographic
C. industry
D. product line
E. key accounts
Specialty stores carry ________ with ________ within them.
A. narrow product categories; mostly staples
B. narrow product categories; wide selections
C. narrow product categories; limited selections
D. wide product categories; wide selections
E. wide product categories; limited selections
Which of the following is defined as the shared values, beliefs, and preferences of a
particular community, nation, or group?
A. culture
B. society
C. morals
D. ethics
E. reference set
Which of the following accurately describes an aspect of CRM systems?
A. They require little security.
B. They require few employee resources.
C. They require a major investment in technology.
D. They can not help to reduce a company’s costs.
E. They offer fewer benefits to retailers.
Which of the following is an example of the exchange marketing function?
A) Rachel collects customer data in order to identify the most profitable customer
relationships.
B) Ziv arranges financing terms for his company’s business customers.
C) Kelly supervises the processing and packaging of products before they leave her
company’s factory.
D) Gus sets the price points for various items in his company’s product line.
E) Allison delivers her company’s products to its customers.
Mobile advertising refers to advertisements delivered through ________.
A. magazines with strong pass-along effects
B. time-shifting devices such as DVRs
C. portable communications devices such as PDAs
D. outdoor boards near highways and other heavily trafficked locations
E. posters on buses, trains, and taxis
Which of the following statements about brand equity is NOT true?
A. Strong brand equity means a brand has customer loyalty.
B. Brand equity refers to the brand’s value to an organization.
C. The highest level of brand equity involves establishing product benefits.
D. Brand equity gives a firm the power to capture and hold onto a larger share of the
market and to sell at prices with higher profit margins.
E. Brand equity can provide a competitive advantage.