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Efficiencies in cost of labor, materials, supply chain, or other operational elements lead
to ________ leadership.
A.Innovative
B.Product
C.Price
D.Service
E.Personnel
Efficiencies in cost of labor, materials, supply chain, or other operational elements lead
to price leadership.
Building a positive customer attitude toward the brand is a key component of
___________ advertising.
A.Pioneering
B.Competitive
C.Institutional
D.Comparative
E.Sales promotion
Marketing managers employ competitive advertising to build sales of a specific brand.
Here, the appeal often shifts to more emotion and the goal is persuasion as well as
providing information.
An appeal that uses ordinary folks doing ordinary things is a _____________ style.
A.Fantasy
B.Rational
C.Desire
D.Lifestyle
E.Slice of life
A slice of life approach to advertising portrays regular people in everyday settings.
The first phase of the maturity stage of the PLC is characterized as having _________.
A.Growth but at a rate lower than the growth stage
B.No growth
C.Loss of sales
D.An increase in sales but at a decreasing rate
E.Negative net growth
In the first phase of the maturity stage, sales continue to increase but at a decreasing
rate.
The rate at which new products become accepted is known as the _________.
A.Product variance process
B.Product sensitivity process
C.Product adoption process
D.Product steering process
E.None of the above
The product adoption process is designed to observe the rate at which a new product is
accepted into the market.
After a new product is designed in the product development cycle it leads to a distinct
set of physical characteristics and a detailed feature mix. At this point, the company
would _________.
A.Develop a working prototype that is exactly as the new product will appear to the
market
B.Develop a marketing strategy that is detailed but tentative
C.Set up infrastructure for the production of the new product
D.Identify sources of finance for the new product
E.Evaluate ethical aspects of the product
Once the distinct set of physical characteristics and the detailed feature mix for the
product is known, the product becomes better defined. At this stage, marketing
specialists develop a tentative, but detailed, marketing strategy.
The stereotypical automobile dealership uses tactics like high pressure and bargaining
to get customers to buy. This is an example of _____________.
A.Production orientation
B.Selling orientation
C.Marketing orientation
D.Buzz marketing orientation
E.Business orientation
Selling orientation assumes that salespeople need to push the product into the hands of
customers, both businesses and end users.
_____ is the number of product categories offered by a retailer.
A.Assortment
B.Variety
C.Breadth of merchandise
D.Product mix
E.Product penetration
Variety is the number of product categories offered by a retailer and is referred to as
breadth of merchandise.
Jefferson Wainright is happy over the growth of the company. As manager of the
production floor, he wants to expand by adding another workstation to increase the
capacity of the floor. Jefferson creates a buying center to evaluate various combinations
of machines for the new station. The buying center gives him a list of the machine
preferences ordered from 1 to 3. After reviewing the list, he orders machine 2 due to the
past experience with the manufacturer. Jefferson is playing the role of a _________.
A.Gatekeeper
B.Manager of purchasing
C.Influencer
D.Manager of the floor
E.Decider
Ultimately, the purchase decision rests with deciders (Jefferson in this case) in the
buying center.
Time to market is a term that indicates _________.
A.The best time to market a new product
B.The duration for which a company has been in a particular market segment
C.How long it will take to develop and get a product to market
D.How long it will take to get a product through the introductory stage to the growth
stage
E.How long it will take to get a product from the awareness to adoption stage
How long it takes to get the product to market is referred to as time-to-market.
Beliefs, once formed, are _______ to change.
A.Vulnerable
B.Likely
C.Resistant
D.Expected
E.Highly prone
Beliefs are a subjective opinion about something. Beliefs once formed, are resistant to
change because they are generally based on emotions and not necessarily on facts.
The single most critical decision in store retailing is the _______________ of the store.
A.Physical Size
B.Decoration
C.Physical location
D.Layout
E.None of the above
The single most critical decision in store retailing is the physical location because
location is a vital consumer choice factor in selecting a store. Store retailing also
requires a complex logistics network to make it work effectively and a good location
strategy is essential in that process.
Really Big Soaps, the market leader in body wash, sells its products around the country
under the same brand. This is an example of _______.
A.Family branding
B.Store Branding
C.Stand-alone branding
D.Co-branding
E.National Branding
Large consumer product companies create national brands that are sold around the
country under the same brand.
A stop-to-market mistake happens when __________.
A.A bad idea is allowed to make it to market
B.The screening committee decides to market a product that has a fatal flaw
C.A good idea is pushed forward without knowing the ROI of its execution
D.A good idea is prematurely eliminated during the screening process
E.A company introduces a new product without sufficient advertising
When a good idea is prematurely eliminated during the screening process it is called a
stop-to-market mistake.
The new product development process is a difficult one. The time it takes to develop a
new product is ___________.
A.Increasing
B.Same as it has always been
C.Decreasing
D.Indefinite due to the nature of financial markets
E.None of the above
The market is constantly putting pressure on the new product development cycle to
make it shorter in terms of time.
The marketing concept was introduced ______________.
A.Immediately after the Civil War
B.Immediately after World War I
C.Immediately after the Great Depression
D.In the 1950s
E.In the 1960s
In the 1950s, growing frustration with high pressure selling sparked a shift in the focus
of American business from sales orientation to marketing concept, which is an
organization-wide customer orientation with the objective of achieving long run profits.
Jan Smith, the marketing manager of Big Wheel Autos, has noticed that in many
European countries more of the population is moving into urban centers. This has
resulted in an increased demand for subcompact cars that can maneuver through these
tighter quarters rather than full size automobiles. This is an example of how _________
can influence marketing management decisions.
A.Movement
B.Geographic changes
C.Economic trends
D.External forces
E.Environmental factors
Subcompact cars suit the urban environment. Hence, as more and more people start
living in urban centers, which is basically a change in the geographic location, the
demand for subcompact cars will keep on increasing. This is an example of how
geographic changes can influence marketing management decisions.
When customers are given the opportunity to purchase a package deal at a reduced
price compared to what the individual components of the package would cost
separately, the firm is using a __________________ strategy.
A.Product line pricing
B.Captive pricing
C.Price bundling
D.Reference pricing
E.Prestige pricing
When a package deal is offered at a reduced price compared to what the individual
components of the package would cost separately, the pricing strategy used is called
price bundling.
The manufacturer of Tiny Bubbles, a laundry detergent, is redesigning the product's
package. He wants the shape to be distinctive in the hope that it will distinguish his
brand from the competition because he knows that a unique package can be a deciding
factor at the point of sale. He is focusing on the ______ objective of packaging.
A.Usage Promotion
B.Aesthetic
C.Communication
D.Harmony
E.Protection
The three objectives of packaging are to protect, communicate, and promote usage. At
the point of sale, the package is the last marketing communication the customer will see
before the purchase, which can distinguish the product. Since the manufacturer wants to
distinguish his product with the help of packaging, he is focusing on the communication
objective of packaging.
