Economic forces determine the size and strength of demand for products.
a. True
b. False
A disadvantage of the concentrated targeting strategy is that:
a. the firm’s financial condition is tied to a single and specialized marketing mix.
b. large sales volumes cannot be generated.
c. production costs may be higher than with other strategies.
d. marketing personnel may become dissatisfied with the limited opportunities provided
by this approach.
e. marketing costs are often higher than for other strategies.
If researchers at Merck Pharmaceuticals develop a cure for prostate cancer, the best way
to announce this to the public and get wide media coverage would be through a:
a. captioned paragraph.
b. press release.
c. feature article.
d. sponsorship.
e. press conference.
Brian works for a manufacturer of sports equipment and is currently developing a
company sales forecast for golf clubs. While reviewing data, he discovered a pattern in
sales volume over the past ten years that peaked during two months of each year. Thus,
Brian likely used to forecast sales.
a. the Delphi technique
b. executive judgment
c. time series analysis
d. market tests
e. regression analysis
Michelle works for a company that sells rotisseries for chicken and other foods. She
answers phone calls from customers who see infomercials on TV and call to order the
product. Michelle is considered a(n):
a. order getter.
b. inside order taker.
c. support person.
d. field order taker.
e. trade salesperson.
Family life cycle is a psychological dimension used for segmenting markets.
a. True
b. False
Scenario 5.2
Use the following to answer the questions.
GE Transportation Corp produces locomotive engines for sale in countries around the
world. After looking at the total market for locomotive engines, the company found that
various rail lines wanted different types of engines. Major rail lines in the U.S. and
South America wanted engines to haul heavy freight. Rail lines in Sweden and
Germany were interested in a cleaner, greener locomotive engine. Rail lines operated by
several Eastern European countries wanted locomotive engines for running short
distances between cities in their own country. GE Transportation is currently
manufacturing its GE 4400 for heavy freight, its Hybrid Eco-Engine, and its Dash 9,
suited for shortline transport.
GE Transportation is most likely using a (an)____targeting strategy, segmenting
by_____ variables.
a. undifferentiated; benefit expectations
b. differentiated; benefit expectations
c. differentiated; volume usage
d. concentrated; volume usage
e. concentrated; geographic location targeting strategy, segmenting by
Data that are observed or collected directly from respondents are called .
a. direct samples
b. secondary data
c. stratified data
d. primary data
e. firsthand information
The final step in the marketing research process is to assess the ethicality of the data
collection phase.
a. True
b. False
Laura goes to a Walmart store and buys some clothing, a DVD, light bulbs, and all the
groceries she needs for her family. What type of retailer is this particular Walmart
outlet?
a. Supermarket
b. Superstore
c. Hypermarket
d. Discount store
e. Department store
Environmental analysis helps managers identify potential threats and opportunities
linked to environmental changes. a. True
b. False
The result of an inventory stockout usually results in a(n)_________.
a. increase in inventory costs.
b. increase in lost sales.
c. increase in net profit.
d. increase in loyal customers.
e. decrease in prices.
Which of the following statements about self-regulatory programs is false?
a. Self-regulatory programs are usually less expensive than governmental regulatory
programs.
b. Self-regulatory programs’ guidelines generally are more realistic and operational.
c. Nongovernmental self-regulatory programs have neither the tools nor the authority to
enforce guidelines.
d. Self-regulatory guidelines generally are stricter than governmental regulatory
programs.
e. When a trade association sets up industry guidelines, some firms that are in the
industry but not in the trade association do not follow the guidelines.
Compared with the SIC system, the North American Industry Classification System
(NAICS):
a. deals with many industries at one time.
b. is a single industry classification system used throughout the world.
c. contains more up-to-date information for the NAFTA partners.
d. provides less information about service industries.
e. generates statistics that are not useful in comparing countries.
A business partnership between a domestic firm and a foreign firm is known as .
a. a joint venture
b. outsourcing
c. a multinational enterprise
d. licensing
e. exporting
Describe the difficulties encountered in standardizing the marketing mix globally.
What are the differences in trying to stimulate primary demand versus selective
demand?
How might a marketer find information about a competitor’s prices? Why is this
information important?
Define strategic planning.
In what ways can businesses become involved in international marketing activities?
Why is a store’s location one of the most important strategic retailing decisions?