Today many CEOs and shareholders expect to measure results of marketing efforts
because ___________.
A.Marketing metrics today are designed to assign specific results to specific marketing
programs
B.They are unrealistic in believing that all marketing is measurable
C.It is easy to do
D.Every other firm does it
E.Marketing has been easy to measure for decades
As with all aspects of business, effective management of the various aspects of
marketing requires quantification of objectives and results. The marketing plan is one of
the most important elements of a business plan. Effective planning requires metrics.
______________ rely on personal evaluations by someone connected to the
salesperson’s sales process, usually the immediate sales manager or a customer.
A.Subjective measures
B.Output measures
C.Objective measures
D.Input measures
E.Non financial incentives
Subjective measures of evaluating a salesperson’s performance rely on personal
evaluations by someone connected to the salesperson’s sales process, usually the
immediate sales manager or a customer.
Michael Porter has consistently advocated that firms that are able to compete based on
some extraordinary efficiency in one or more internal processes bring to the market a
competitive advantage based on _________________.
A.Price perception
B.Cost leadership
C.Value ratio
D.Service
E.Quality
Michael Porter advocates that extraordinary efficiency in one or more internal processes
leads to cost leadership.
___________ is a system to select, organize, and interpret information to create a
useful, informed picture of the world.
A.Motivation
B.Perception
C.Attitude
D.Values
E.Expectations
There is so much information that it is not possible to make sense of everything so
people use a process called perception to help manage the flow of environmental
stimuli. This process involves selecting, organizing, and interpreting information to
create a useful, informed picture of the world.
________________ could lead the marketing manager to decide to price at some
market average price, or perhaps above or below it in the context of penetration or
skimming objectives.
A.Penetration pricing
B.Price skimming
C.Target ROI
D.Competitor based pricing
E.Value pricing
By analyzing the historical and current pricing patterns of competitors, a marketing
manager may decide to price an offering at some market average price, or perhaps
above or below it. This is known as competitor-based pricing.
The Internet has made it easy for customers to access information, disinformation, post
their opinions and read other people’s opinions. From a marketer’s point of view, this
has caused _______.
A.A shift to product glut and customer shortage
B.A shift in generational values and preferences
C.A shift in power from marketers to consumers
D.A shift to demanding return on marketing investment
E.A shift to Marketing (Big M) and marketing (little m)
For competitive reasons, firms must be more open about their businesses and products.
Consumers access this information through the Internet. Thus, they have greater
knowledge and advantage.
Juana and Marta inherited a large auto dealership. Their task is to convince the sales
staff to be relationship driven rather than transaction driven. Many sales people are out
to make the most money from each sale because they don’t see themselves staying in
the job for a long time and don’t care about the future of the dealership. The CRM
metric that demonstrates the preference of relationships over transactions is _________.
A.Customer longevity spending
B.Total customer spending
C.Total customer gross margin
D.Customer lifetime value
E.Total transaction spending
Customer lifetime value is the dollar value of a customer relationship based on the
present value of the projected future cash flows from the customer relationship. It
demonstrates the preference of relationships over transactions.
________________ deals with how to get goods back to a manufacturer or
intermediary after purchase.
A.Outbound logistics
B.Inbound logistics
C.Reverse logistics
D.Outsourcing
E.Third-party logistics
Reverse logistics deals with how to get goods back to a manufacturer or intermediary
after purchase. Product returns result for many reasons like spoilage and breakage,
excess inventory, and customer dissatisfaction.
All of the following are basic principles behind segmentation EXCEPT:
A.Not all customers are alike.
B.Subgroups of customers can be identified on some basis of similarity.
C.Segmentation of the market leads to effective inventory management
D.Subgroups will be smaller and more homogeneous than the overall market.
E.Needs and wants of a subgroup are more efficiently and effectively addressed than
would be possible within the heterogeneous full market.
Segmentation seeks to find one or more factors about members of a heterogeneous
market that allow for dividing the market into smaller, more homogeneous subgroups
for the purposes of developing different marketing strategies to best meet the segments’
distinct needs and wants. Segmentation is not related to inventory management.
When a marketing company responds to an RFP, _____________.
A.It presents clearly how the marketing company’s products will meet the product
specifications detailed in the RFP
B.It makes a case for selecting the marketing company by presenting any additional
information such as unique product features it possesses
C.It succinctly presents the superior service of the marketing company
D.All of the above
E.None of the above
Generally, a sales proposal is the first and best chance to impress the customer. A sales
proposal clearly specifies how the company’s products will meet the product
specifications detailed in the RFP and it makes the case for selecting the company by
presenting additional information such as unique product features or superior service to
help persuade the customer.
_______ are the stages of the consumer decision making process.
A.Problem recognition, evaluation of alternatives, product choice decision
B.Problem recognition, evaluation of alternatives, product choice, evaluation
C.Evaluation of alternatives, product choice, evaluation
D.Evaluation of alternatives, information search, product choice
E.Problem recognition, search for information, evaluation of alternatives, product
choice decision, post-purchase evaluation.
The consumer decision making is a five stage process. It begins with problem
recognition, followed by search for information, evaluation of alternatives, product
choice decision, and finally post-purchase evaluation.
Products introduced in the growth stage tend to have __________.
A.Fewer features and better design
B.Promotion focused on product awareness
C.More features and better design
D.Limited design and more features
E.Innovators and early adopters as their target customers
Products introduced in the growth phase usually have more features and better design
due to learning from the first generation.
________ occurs when consumers have only a vague idea about the company and its
products, and do not perceive any real differentiation.
A.Confused positioning
B.Overpositioning
C.Underpositioning
D.Doubtful positioning
E.None of the above
Underpositioning occurs when consumers have only a vague idea about the company
and its products, and do not perceive any real differentiation.
By combining efforts, ____________ gain advantages through enhanced buying and
distribution power that allow them to better compete with supermarket chains than if
the stores were buying separately.
A.Horizontal organizations
B.Retailer cooperatives
C.Matrix organizations
D.Channel captains
E.Vertical organizations
Independent retailers across a variety of product categories have banded together to
gain cost and operating economies of scale in the channel. This is known as a retailer
cooperative and it is an example of a contractual VMS.
A(n) ____________ implies that many of the promotional activities take place from the
manufacturer downward through the channel of distribution.
A.Selective distribution strategy
B.Exclusive distribution strategy
C.Push strategy
D.Pull strategy
E.Intensive distribution strategy
In a push strategy, much of the intensive promotional activities take place from the
manufacturer downward through the channel of distribution. Push strategies usually are
supported by heavy allowance payments to intermediaries for helping accomplish the
manufacturer’s goals.
Stickiness of a Web site refers to ___________________.
A.The ease with which visitors can navigate through the site
B.The readability of the site
C.The attractiveness of the site
D.The amount of time visitors remain at the site
E.The number of visitors who visit the site
Stickiness of a Web site refers to the amount of time visitors remain at the site.
All of the following are advantages of CRM-driven one-to-one marketing EXCEPT?
A.Reduced promotional costs.
B.Improved targeting of specific customers.
C.Improved capability to track the effectiveness of a given promotional campaign.
D.Increased effectiveness in competing on value-adding properties.
E.A longer product development cycle.
Increased speed in developing and marketing a product (product development cycle) is
one of the advantages of CRM-driven one-to-one marketing.