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The basic component of the core strategy is the value proposition.
Factor analysis is a multiple regression statistical procedure.
Clinical research is generally used to generate hypotheses for further research, often
quantitative.
When a firm markets a product or service to another organization, it is called
organization marketing.
The corporate objective is usually stated in financial or stock price terms.
Patents and trademarks are considered as brand assets.
When a sales organization is structured as a product/product system, the sales force
sells all products marketed by a division to a single market.
Channel systems cannot be as easily changed as a marketing strategy.
A group of individuals collectively involved in a purchase decision are known as a
buying center.
According to the needs hierarchy theory, basic human needs such as food, sleep, and
water are examples of ________ needs.
A) physiological
B) safety
C) ego
D) social
Which of the following describes a situation when skimming should be used?
A) when experience or scale effects lead to a favorable volume€cost relationship
B) when there is a strong price€perceived quality relationship
C) when a large segment of the customer base is price-sensitive
D) when the company wants to build significant market share
Which of the following statements is true regarding TRUSTe?
A) It is an online service for creating customized online surveys.
B) It is an online service which helps in data mining.
C) It is an initiative which rates Web sites based on the ease with which it can be
navigated.
D) It is an initiative to build user confidence in joining communities and using the Web
in general.
Which of the following is the first stage of the advertising decision-making process?
A) setting advertising goals
B) selecting the target audience
C) developing the message strategy
D) selecting media
________ is the concept that a customer will adopt an innovation only if he or she
considers it to be an improvement over the current product being used to satisfy the
same need.
A) Observability
B) Planned obsolesence
C) Relative advantage
D) Need recognition
Which of the following is most likely to be associated with selling of trademarked
goods through channels of distribution that are not authorized by the holder of the
trademark?
A) a gray market
B) a multiple-channel system
C) a black market
D) a hybrid system
Identify the stage of the product life cycle where a large amount of money is spent on
consumer promotion.
A) introduction stage
B) growth stage
C) maturity stage
D) decline stage
Sales literature and product brochures are distributed through wholesalers and retailers.
Identify this channel function.
A) communication
B) marketing research
C) risk taking
D) negotiation
Which of the following is an example of internal change?
A) change in customer preferences
B) a new regulation
C) price change of raw materials
D) automation decision
Which judgmental method takes the most current sales and adds a judgmentally
determined x percent, where x is the estimated percentage change in sales?
A) Linear extrapolation
B) Ntive extrapolation
C) Exponential smoothing
D) Moving averages
The amount of sales of a brand expected to be achieved under a set of conditions within
a specified period of time is known as:
A) sales forecast.
B) market development.
C) sales potential.
D) market expansion.
Most successful companies generate ________ of their sales from new products
introduced within the last two years.
A) less than 5%
B) less than 25%
C) about 50%
D) more than 75%
The first buyers of an innovation in industrial marketing situations are known as:
A) early adopters.
B) lead users.
C) early majority.
D) late majority.
In industrial marketing situations, ________ are often used as beta test sites, where new
products are tested and debugged.
A) innovators
B) early majority
C) late majority
D) laggards
When the ideal selling price is first determined and the feasibility of meeting that price
is assessed and costs are controlled in order to produce the product that can be sold at
the target price, this is called:
A) market development.
B) price determination.
C) target costing.
D) product development.
A shelf talker is:
A) a sales representative in a retail outlet who provides customers with information on
different products in various shelfs.
B) a sign hanging on the shelf with information, usually about a special price.
C) a representative from a manufacturing firm who negotiaties shelf space with the
retailers.
D) a representative from a retail outlet who negotiates shelf space with the
manufacturer.
Which of the following statements is true regarding the growth stage of the product life
cycle?
A) The growth rate and the size of the market are low.
B) The market growth becomes flat.
C) Usually, competition is most intense in this phase.
D) The rate of growth begins to decrease in this stage.
Identify the approach that integrates a set of products and offers them in a package that
is usually lower in price than the sum of the prices of the individual components.
A) price bundling
B) product-line pricing
C) complementary pricing
D) penetration pricing
