As part of the rapid globalization of today’s economy, companies are selling more
domestically produced goods in international markets and ________.
A) taking a local view of their industry
B) purchasing more supplies abroad
C) reducing competition within their industry
D) downplaying concerns for social responsibility
E) competing solely in traditional marketplaces
A market-skimming pricing strategy should NOT be used for a new product when
________.
A) the product’s quality and image support its higher price
B) enough buyers want the products at that price
C) competitors are unable to enter the market
D) competitors can undercut prices easily
E) producing a smaller number of goods is feasible
________ represent(s) consumers’ perceptions and feelings about a product and its
performance.
A) Product lines
B) Labeling
C) Brands
D) Design
E) Product attributes
Which of the following companies has a product-oriented business definition?
A) A luxury hotel, whose business definition is: “We sell out-of-the-world experiences
to our guests.”
B) A real estate company, whose business definition is: “We sell dreams.”
C) A cosmetic company, whose business definition is: “We offer hopes and
self-expression.”
D) A shoe manufacturer, whose business definition is: “We manufacture affordable and
long-lasting shoes for all.”
E) A high-technology company, whose business definition is: “We sell inspirations.”
Harvey’s Bookstore is a popular online bookstore that has differentiated itself through
smooth-functioning delivery networks. This is an example of ________.
A) product differentiation
B) image differentiation
C) price differentiation
D) channel differentiation
E) people differentiation
What sets the ceiling for product prices?
A) product manufacturing costs
B) sellers’ perceptions of the product’s value
C) customer perceptions of the product’s value
D) variable costs
E) break-even volume
Following the change in consumer values and consumption patterns after the Great
Recession, marketers have changed their marketing strategies to emphasize the
________ of their products.
A) image
B) value
C) durability
D) safety
E) uniqueness
If demand changes greatly with a small change in price, the demand is ________.
A) variable
B) inelastic
C) derived
D) elastic
E) negative
________ involves systematically developing networks of supplier-partners to ensure a
dependable supply of products and materials for use in making products or reselling
them to others.
A) Supplier development
B) Backsourcing
C) Supplier quality assurance
D) Corporate recovery
E) Executive development
________ have formal authority to select the supplier and arrange the terms of
purchase.
A) Users
B) Influencers
C) Buyers
D) Gatekeepers
E) Deciders
Sears opened up department stores in Mexico and Spain, where it found qualified local
manufacturers to produce many of the products it sells. This type of joint venture is
known as ________.
A) joint ownership
B) licensing
C) management contracting
D) indirect exporting
E) contract manufacturing
Kinger Auto specializes in selling low-quality used vehicles that are priced a good deal
lower than other used cars. Which of the following value propositions is evident here?
A) more for the same
B) more for less
C) same for less
D) less for much less
E) more for more
Which of the following terms refers to a 30-minute television advertising program that
markets a single product?
A) social media
B) digital catalog
C) telemarketing
D) blog
E) infomercial
________ involves activities undertaken to create, maintain, or change attitudes toward
particular cities, states, or regions.
A) Idea marketing
B) Place marketing
C) Organization marketing
D) Social marketing
E) Interactive marketing
What are stars according to the BCG growth-share matrix?