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What is included in the first part of a marketing strategy statement?
A) distribution strategy
B) product longevity
C) long-run sales goals
D) promotional mixes
E) target market description
New technologies most likely lead to ________.
A) economic imbalance in society
B) reduced exports
C) trade deficits
D) an increased demand for unskilled labor
E) new markets and opportunities
Travis Computing Systems earns most of its revenue from sales and in-person computer
services. The sales force at Travis recently began telemarketing and Web selling. How
would telemarketing and Web selling most likely benefit Travis?
A) The need for an outside sales force would be completely eliminated through
telemarketing.
B) Travis sales reps would be able to engage in more frequent face-to-face interaction
with large, high-value customers.
C) Travis sales reps would be able to service hard-to-reach customers more effectively.
D) The overhead costs of Travis would significantly decrease.
E) The current liabilities of Travis would decrease.
Which of the following is true of transporting goods via railroads?
A) Railroads are ideal for the transportation of digital technology.
B) Railroads are a specialized means of shipping petroleum, natural gas, and chemicals
from sources to markets.
C) Railroads are a cost-effective way to ship large amounts of bulk products over long
distances.
D) Railroads are the most flexible mode of transportation in their routing and time
schedules.
E) Railroads are the slowest mode of transportation and are the most affected by the
weather.
________ is the systematic design, collection, analysis, and reporting of data relevant to
a specific marketing situation facing an organization.
A) Product marketing
B) Strategic planning
C) Marketing research
D) Market segmentation
E) Causal research
In the case of services, captive product pricing is called ________ pricing.
A) by-product
B) optional product
C) two-part
D) bundle
E) segmented
Samsung and Apple actively generate new ideas, relentlessly pursue new solutions, and
quickly work to get new products to market. They serve customers who want
state-of-the-art products and services, regardless of the costs in terms of price or
inconvenience. Which of the following value disciplines is illustrated from this
example?
A) operational excellence
B) customer intimacy
C) product leadership
D) product activation
E) product binning
When P&G developed the Mr. Clean Magic Eraser, the company needed to explain how
the product cleans grime from walls without removing paint. What type of campaign
was most likely used by P&G for the Mr. Clean Magic Eraser?
A) informative advertising
B) persuasive advertising
C) reminder advertising
D) developmental advertising
E) comparative advertising
The learning curve is representative of the ________.
A) per unit cost of output in the long run
B) drop in the average per-unit production cost that comes with accumulated production
experience
C) number of units the market will buy in a given time period, at different prices that
might be charged
D) total market demand resulting from different prices
E) per unit cost of output in the short run
Which type of store carries a deep assortment of a particular product line, has
knowledgeable staff, and can be viewed as a giant specialty store?
A) category killer
B) convenience store
C) factory outlet
D) warehouse club
E) off-price retailer
________ products give both high immediate satisfaction and high long-run benefits.
A) Deficient
B) Pleasing
C) Desirable
D) Salutary
E) Threatening
Which of the following statements is true regarding social classes in the United States?
A) Social class is determined by income alone.
B) Lines between social classes in the United States are fixed and rigid.
C) Social classes show distinct product preferences in clothing and automobiles.
D) Wealth is more critical than education level in measuring social class.
E) People are relegated to a permanent social class in the United States.
Countries with ________ economies consist mostly of households with very low family
incomes.
A) industrial
B) industrializing
C) raw material exporting
D) emerging
E) subsistence
________ involves setting prices based on the costs for producing, distributing, and
selling the product plus a fair rate of return for effort and risk.
A) Value-based pricing
B) Competition-based pricing
C) Cost-based pricing
D) Penetration pricing
E) Break-even pricing
Which group includes neighborhood residents and community organizations?
A) local publics
B) government publics
C) internal publics
D) citizen-action publics
E) media publics
A firm that uses the selling concept takes a(n) ________ approach.
A) outside-in
B) niche marketing
C) inside-out
D) societal marketing
E) customer-driven
Monica Carey is a conscientious marketing manager. Sometimes it is unclear what
decisions to make when she and her staff are faced with moral dilemmas. To help them
handle such situations, Monica and other managers should create broad guidelines that
everyone in the organization must follow. Which of the following terms best describes
these guidelines?
A) corporate value statements
B) company mission statement
C) company vision statement
D) corporate marketing ethics policies
E) company financial statement
Strategies that strongly position a company against competitors and that give the
company the best possible strategic advantage are ________ strategies.
A) competitor analysis
B) customer relationship
C) competitive marketing
D) competitive relationship
E) customer identification
Which of the following steps in the selling process is most focused on ensuring
customer satisfaction and repeat business?
A) preapproach
B) demonstration
C) handling objections
D) qualifying prospects
E) follow-up
When customers don't know what they want or don't even know what's possible, the
most effective marketing strategy is ________ marketing.
A) customer-driven
B) customer-driving
C) societal
D) ambush
E) affinity
Which of the following is a demographic factor that a company should consider before
deciding to enter into a new country?
A) transportation structure
B) natural resources
C) political stability
D) languages
E) education
Which of the following is a media measure?
A) consumer price index
B) GDP per capita
C) wholesale price index
D) click-through rate
E) human development index
Which of the following is true of public policies and pricing?
A) The government imposes no limits on intrastate pricing issues.
B) The Robinson-Patman Act governs interstate commerce.
C) Companies have free rein when it comes to setting prices.
D) The Sherman Act governs intrastate commerce.
E) The Clayton Act encourages the formation of monopolies.
________ segmentation divides buyers into different segments based on social class,
lifestyle, or personality characteristics.
A) Benefit
B) Occasion
C) Geographic
D) Demographic
E) Psychographic
Savings for You, a discount retail chain, is highly competitive. When entering a new
market, Savings for You often cuts prices so deeply that it sells below costs, effectively
pushing smaller companies with less purchasing power out of the market. Savings for
You is most likely guilty of ________.
A) market skimming
B) price fixing
C) deceptive pricing
D) price collusion
E) predatory pricing
How is the personal selling process and customer relationship management
interrelated? What are the primary requirements of value selling?
Briefly describe occasion segmentation.
Give two examples of products for which marketers might use optional-product pricing.
Briefly explain the functions of a customer insights team.
People's distinct individual personalities influences their buying behavior. Personality is
usually described in terms of traits. What are these traits, and how do they affect the
way people purchase items? Give at least one example.
How can sales promotion be accomplished through samples?
