________ represent(s) a huge segment of the population. There is some evidence that
they, in their own minds, do not think they age.
A.Generation X
B.Generation Y
C.Millennials
D.Baby boomers
E.The silent generation
Baby boomers are born between 1946 to 1964. Much of the research on baby boomers
indicates that-at least in their minds-they don’t age.
A company’s core cost advantages translate directly to an edge over its competitors
based on much more flexibility in its __________________ as well as its ability to
translate some of the cost savings to the bottom line.
A.Pricing strategies
B.Cost leadership
C.Value ratio
D.Service
E.Quality
Core cost advantages give a company greater flexibility in its pricing strategies and
allow it to translate cost savings to the bottom line.
When a channel member is respected, admired, or revered based on one or more
attributes, that member enjoys ________________ within the channel.
A.Coercive power
B.Reward power
C.Expert power
D.Referent power
E.Legitimate power
A channel member acquires referent power due to its reputation in the channel. Only the
best of the best brands can rely on this power source.
Joan Doe is a participant in an online focus group for a processed food company.
However, during one of the sessions her children are acting up and, as a result, she does
not give much thought to her responses. This is an example of the _________ problem
that companies that use online focus groups face.
A.Access limitation
B.Identity verification
C.Environmental control
D.Family issue
E.Qualification
Traditional focus groups create an environment where participants are required to focus
on the questions while online focus groups enable participants to be at home, work, or
even a remote location with wireless access. As a result, participants can become
distracted and environmental factors can affect their concentration and responses.
New product development is a critical success factor for most organizations. The
percent of new products that fail worldwide is ________.
A.20 to 30 percent
B.30 to 50 percent
C.50 to 70 percent
D.70 to 80 percent
E.10 to 20 percent
70 to 80 percent of all new products worldwide fail.
The simplest and most common method of organizing a company sales force is _____.
A.Geographic orientation
B.Product organization
C.Customer type
D.Market organization
E.Work load method
The simplest and most common method of organizing a company sales force is by
geographic orientation, where individual salespeople are assigned to separate
geographic territories.
Irma’s Cupcakes, a family-owned chain of bakeries, is primarily located in malls. The
bakery shops had rapid growth in its first seven years. Now the family has decided that
adding more shops would make it impossible for them to monitor operations. Most
likely the family is pursuing a generic strategy of _________________.
A.Retrenchment
B.Stability
C.Diversification via concentric means
D.Growth/Concentration via vertical integration
E.Growth/Concentration based on horizontal integration
The firm is concerned about control of operations and does not wish to expand. The
family is happy with the status quo and it is pursuing the generic strategy of stability.
When shipping prices are dependent upon geographic pricing zones based on the
distance from the shipping location, it is considered _____________.
A.FOB pricing
B.Uniform delivered pricing
C.Zone pricing
D.Geographically driven pricing
E.None of the above
In a zone pricing approach, shippers set up geographic pricing zones based on the
distance from the shipping location.
______ relies on the methodological identification, collection, analysis, and distribution
of data in order to discover and solve marketing problems or enhance decision-making.
A.Studying
B.Market research
C.A marketing information system
D.Investigating
E.Searching
Market research is the methodical identification, collection, analysis, and distribution of
data related to discovering then solving marketing problems or opportunities and
enhancing good decision making.
For CRM to succeed, it must have the support of _____________.
A.The IT Department
B.Top management
C.The sales team
D.The marketing department
E.All of the above
Successful implementation of CRM requires commitment from top management and
cross functional planning and good communication among departments in the firm.
The marketing manager for DRNK Spirits decided that all the products that his
company produced would carry the same brand name of Nightlife. As a result, there is
Nightlife Ale, Nightlife Lager, Nightlife Vodka, Nightlife Tequila, and Nightlife
Whiskey. This is an example of _______.
A.Family branding
B.Store Branding
C.Stand-alone branding
D.Co-branding
E.National Branding
Family branding includes products that share a brand name and are associated with one
another. There is synergy among members of a brand family, but a negative event with
one product often leads to negative publicity for the entire brand family.