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JumBo Games is in the commercialization stage. The first decision that the firm should
make while introducing the product in the market is introduction timing.
Answer:
Sellers cannot influence or use consumers' reference prices when setting their product
prices.
Answer:
Viral marketing allows marketers to send tailored messages to targeted customers who
have chosen to receive them.
Answer:
Dynamic pricing is least prevalent online.
Answer:
A mission statement is a document embodying an organization's short-term goals.
Answer:
"At Joe's Diner, we serve great burgers" is a product-oriented business definition.
Answer:
Kia Motors offers a new car model with the same features as other cars in the same
segment. However, Kia's model is priced higher than its two main competitors. Kia is
following a more-for-less positioning strategy.
Answer:
Benchmarking refers to the process that turns marketing plans into marketing actions to
accomplish strategic marketing objectives.
Answer:
The buying center is a fixed and formally identified unit within the buying organization.
Answer:
Nontariff trade barriers include restrictive product standards.
Answer:
Whereas environmentalists consider whether the marketing system is efficiently serving
consumer wants, consumerists are concerned with marketing's effects on the
environment and with the environmental costs of serving consumer needs and wants.
Answer:
Green retailing yields both top- and bottom-line benefits.
Answer:
An advantage of a competitor-centered company is that it ends up simply matching or
extending industry practices rather than seeking innovative new ways to create more
value for customers.
Answer:
Data ages quickly.
Answer:
Mass marketing involves identifying market segments, selecting one or more of them,
and developing products and marketing programs tailored to each.
Answer:
What is the primary advantage of printed catalogs?
A) filtering out interested prospects
B) offering immediate rebates and coupons
C) building emotional connections with customers
D) offering unlimited space for merchandise details
E) reaching consumers in a quick and inexpensive manner
Answer:
Pace Hardware uses Learningnow.com to improve sales force effectiveness and
facilitate sharing of expertise. It allows Pace retailers to connect with each other for
seeking managerial and marketing advice. It also allows Pace retailers to ask their
suppliers about product usage, deliveries, and warranties, and send new-product
information directly to the retailers. In this instance, Pace Hardware is facilitating
communication through ________.
A) extranet links
B) podcasts
C) search engines
D) trading exchanges
E) reverse auctions
Answer:
Which of the following is most likely true of marketing channel decisions?
A) They often involve long-term commitments to other firms.
B) They have minimal influence on the prices of products offered to customers.
C) They increase the amount of time a company spends connecting with customers.
D) They increase the amount of effort a company puts in to distribute goods.
E) They are easily altered, replaced, or discarded.
Answer:
A(n) ________ is a set of symbols that the sender transmits.
A) encoder
B) feedback loop
C) message
D) media
E) decoder
Answer:
Dove wanted to do more than just sell its beauty care products. The company was on a
quest to discover "real beauty" and help women be happy just the way they are. As a
result, the Dove Campaign for Real Beauty was successfully launched in 2004. Which
of the following types of marketing did Dove use?
A) sense-of-mission marketing
B) consumer-oriented marketing
C) customer-value marketing
D) innovative marketing
E) social marketing
Answer:
In the model of buyer behavior, which of the following is NOT a major type of force or
event in the buyer's environment?
A) economic
B) technological
C) social
D) political
E) cultural
Answer:
The United States Environmental Protection Agency (EPA) has mandated that, in order
to reduce local pollution, all printing plants have to switch from oil-based inks to
water-based inks. This will require entirely new printing presses and the procurement of
a completely different printing plate technology. In this instance, the buying center of
an organization using printing plants is most likely to face ________.
A) a need for market segmentation
B) a new task situation
C) a straight rebuy situation
D) a need for market diversification
E) delayed differentiation
Answer:
Which of the following is a type of flow that connects all institutions in a marketing
channel?
A) payment flow
B) ownership flow
C) physical flow
D) promotion flow
E) information flow
Answer:
The challenge for makers of which type of product is to add long-run benefits without
reducing the product's desirable qualities?
A) salutary product
B) desirable product
C) pleasing product
D) durable product
E) deficient product
Answer:
Marketers target Generation Z because they ________.
A) listen to their parents and follow their examples
B) dislike technology
C) spent an estimated $43 billion annually of their own money
D) prefer shopping in brick-and-mortar stores with actual products
E) have long attention spans and are easily targeted
Answer:
Refer to the scenario below to answer the following question(s).
Selman & Saks, a maker of men's and women's razors and electric hair trimmers, had
little reason to become involved in the global arena. But after acquiring Wellman
Enterprises, whose largest division engages in a licensing agreement with a German
firm to produce women's hosiery, managers at Selman & Saks wondered whether a
company-wide global focus would be more profitable after all.
Managers at Selman & Saks studied Wellman's licensing agreement in great detail.
Even after seeing the benefits Wellman achieved with the licensing agreement,
managers decided that Selman & Saks would target the French market merely via
exporting.
With the assistance of a domestic export department, Selman & Saks razors and hair
trimmers entered France. For six months, sales were mediocre. But after that, sales
suffered. Opinions varied among numerous managers as to the cause of the failure.
"Who knows the local market better than people who live there?" was a comment heard
throughout Selman & Saks. "Maybe we needed an alliance with a French firm, or a
licensing agreement, before racing to get there."
If Selman & Saks allowed a French company to produce and market razors and
trimmers carrying the company's brand in exchange for a royalty, Selman & Saks would
be using the market entry strategy of ________.
A) exporting
B) franchising
C) licensing
D) contract manufacturing
E) joint ownership
Answer:
Integrated marketing communications require a company's mass-market
advertisements, Web site, e-mail, and personal selling communications to all have
________.
A) equal portions of the advertising budget
B) independent communications directors
C) separate marketing objectives
D) the same target audience
E) the same brand message, look, and feel
Answer:
Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity.
This is an example of a(n) ________.
A) new product development
B) acquisition
C) joint venture
D) licensing contract
E) divestment
Answer:
Which of the following best explains why companies are adopting the team selling
approach to service large, complex accounts?
A) Products have become too complicated for one salesperson to handle a large
company's needs.
B) Customers prefer dealing with many salespeople rather than one sales representative.
C) Job rotation, an integral part of team selling, keeps workers motivated and boosts
their morale.
D) Team selling facilitates the evaluation of individual contributions.
E) With team selling, companies are not required to train the outside sales force any
longer.
Answer:
Pat thought he had received the best deal on his new car. Shortly after the buying the
car, Pat started to notice certain disadvantages of his new car as he learned more about
other cars available in the market. Pat is experiencing ________.
A) dissonance-reducing buying behavior
B) need recognition
C) postpurchase dissonance
D) marketing myopia
E) complex buying behavior
Answer:
With a(n) ________ marketing strategy, a firm goes after a large share of one or a few
smaller niches.
A) individual
B) mass
C) concentrated
D) differentiated
E) local
Answer:
Some fast-food restaurants offer tasty and convenient food at affordable prices, but in
doing so they contribute to a national obesity epidemic and environmental problems.
These fast-food restaurants overlook the ________ philosophy.
A) marketing concept
B) product concept
C) production concept
D) societal marketing concept
E) selling concept
Answer:
A regional supermarket chain runs print, radio, and television advertisements
announcing that 1 percent of its sales is donated to local after-school programs for
underprivileged youth. This is an example of ________.
A) cause-related marketing
B) generational marketing
C) sustainable marketing
D) market segmentation
E) product differentiation
Answer:
Refer to the scenario below to answer the following question(s).
Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to
industry design changes and consumer demands, for the next financial year, six of those
stampings will require a slight change: two will have an extra hole punched through the
side, two will require an extra plating process, and two will require an additional weld
operation.
In the meantime, purchasing agent Richard Koehl has been asked to reduce the number
of Alpha's steel suppliers in an effort to cut costs. After obtaining updated price
quotations and steel samples from his current suppliers, Richard faced a dilemma. Until
now, he had selected his suppliers based on quality and price, but the major
consideration had been the type of steel required and the specialized production
processes of his respective suppliers. Not all of Alpha's suppliers could produce the
exact grades of steel needed; some suppliers were better at producing certain types of
steel than others.
Richard contacted several employees at Alpha who had worked with the various types
of steel in the past. The quality control manager and line inspector, for example, could
help to determine which suppliers had the capabilities of producing specific types of
steel. The production control manager could provide input regarding which types of
steel worked best in which presses. The warehouse foreman gave inputs regarding how
long various types of steel could be held in inventory before rust spots began to form on
their surfaces. Each person contributed the necessary information to help Richard in
making his decision.
In this instance, Richard plays the role of a(n) ________.
A) decider
B) gatekeeper
C) influencer
D) proposal solicitor
E) product designer
Answer:
________ are a type of limited-service wholesaler who carries a limited line of
semiperishable merchandise (such as milk, bread, and snack foods), which is sold for
cash as deliveries are made to supermarkets, small groceries, or hotels.
A) Industrial distributors
B) Wholesale merchants
C) Full-service wholesalers
D) Truck jobbers
E) Purchasing agents
Answer:
When a customer lets a producer know something about its products or advertising, the
customer is providing ________.
A) decoding
B) noise
C) feedback
D) encoding
E) reverse marketing
Answer:
In the audio equipment industry, Philips and Sony belong to the same ________.
A) target group
B) strategic group
C) experimental group
D) control group
E) focus group
Answer:
Cost-plus pricing ________.
A) is a complex pricing method
B) involves pricing that accurately reflects production costs
C) involves adding a standard markup for profit
D) aims at breaking even on the costs of making and marketing a product
E) is a value-based pricing method
Answer:
Kirk Wilkins renewed his cell phone contract with Zip Wireless Services and purchased
a new cell phone through the Zip Web site. If Kirk mails Zip Wireless Services his
transaction receipt, he would be eligible to receive $50 as cash refund. Which of the
following types of sales promotion is evident here?
A) point-of-purchase promotion
B) advertising specialty
C) premium
D) price pack
E) rebate
Answer:
Keith, a clothing store owner, offers product suggestions to customers based on their
current purchases. Which of the following is Keith trying to increase?
A) shared value
B) share of customer
C) social responsibility
D) customer-generated marketing
E) customer loyalty
Answer:
Digital technology allows companies to reach out to customers in numerous ways.
Which of the following is NOT the purpose of a company reaching out using digital and
social media?
A) solving consumer problems
B) building customer relationships
C) helping customers shop
D) providing product information
E) working with suppliers
Answer:
Competitive parity and task methods are considered when making decisions about
________.
A) sales objectives
B) budget
C) message structure
D) media selection
E) message effectiveness
Answer:
________ is a management approach that involves developing strategies that both
preserve the environment and produce profits for the company.
A) Aesthetic consumerism
B) Profitable environmentalism
C) Environmental sustainability
D) Sustainable ecology
E) Corporate marketing
Answer:
________ is determined by a customer's evaluation of the benefits and costs of a market
offering relative to those of competing offers.
A) Customer-perceived value
B) Customer lifetime value
C) Share of customer
D) Customer-managed relationship
E) Brand value proposition
Answer:
The market leader normally gains the most when ________.
A) its total market diminishes
B) it achieves expanded market share
C) its personal communication channels expand
D) the niche marketing efforts by other firms expand
E) the major global competitors enter the market
Answer:
Why is it difficult to assess interpersonal factors that influence the business buying
process?
Answer:
Explain how seasonality impacts media timing.
Answer:
Why has the cost of product liability insurance risen so dramatically?
Answer:
What is a private brand?
Answer:
Why is it important for companies to understand cultural differences and nuances
before entering a foreign country's market? Give two examples of cultural differences
that would be important for a company to know.
Answer:
Who typically sets prices in large and small companies?
Answer:
Why do population shifts interest marketers?
Answer:
What is personal selling?
Answer:
Provide an example of how a marketer uses kiosk marketing.
Answer:
Compare and contrast the four types of buying decision behavior exhibited by
consumers.
Answer:
Who are the major players in a company's microenvironment? Explain the role that
each actor plays.
Answer:
Identify the major advantage of the following traditional forms of direct marketing:
telephone, direct mail, catalog, direct-response television, and kiosk.
Answer:
Although competition is most intense within a strategic group, explain why there is also
rivalry among groups. Give examples.
Answer:
What are the primary requirements for effective market segmentation?
Answer:
Describe the four major steps in media selection.
Answer:
