Miriam and Gregory are partners in a manufacturing firm that supplies electronic parts
to over 1,500 companies. Recently, employees have been complaining that they were
not told of changes in health insurance coverage and premiums. They attribute this to a
problem with _____________.
A.Firm infrastructure
B.Human resources management
C.Technology development
D.Inbound logistics
E.Procurement
Human resource management is a support activity in the value chain which looks after
employee issues.
As compared to psychographic segmentation, geographic and demographic
segmentations are relatively ________.
A.Time consuming
B.Difficult to carry out
C.Subjective in nature
D.Objective in nature
E.None of the above
An important challenge of using psychographic segmentation involves the reliability
and validity of its measurement. Unlike geographic and demographic measures, which
are relatively objective in nature, psychographic measures attempt to “get into the head”
of the consumer.
Brand Electronics’ marketing manager would like to know about the typical consumer
that purchases handheld computers. He begins by searching online and in databases for
this information, but soon discovers that a product is too new for the sources to be of
help. In this instance he will need ________ data in order to solve his research problem.
A.Secondary
B.Governmental
C.Experimental
D.Primary
E.Observational
Primary data is data that is collected specifically for the current research question. Since
the manager is not able to gather the required data from existing sources, he will have to
collect the data as per his requirements.
_______________ could result in overall higher prices for consumers since various
competitors are all pricing the same to maximize their profits.
A.Price fixing
B.Price discrimination
C.Deceptive pricing
D.Bait & switch
E.Predatory pricing
Price fixing occurs when companies collude to set prices at a mutually beneficial high
level. When competitors are involved in the collusion, horizontal price fixing occurs.
This can be detrimental to the consumer as it tends to raise prices.
Firms are sometimes reluctant to invest in great service, largely because ___________.
A.It is difficult to change employees’ mindset
B.It is difficult to make consumers aware that they are receiving great service
C.It does not contribute to the total product experience
D.It takes time and patience before a return on the investment is noticeable
E.It does not provide any competitive advantage
Many firms are reluctant to invest in great service, largely because it takes time and
patience before a return on the investment may be noticeable. But a great service can be
a core differentiator and it can provide sustainable competitive advantage.
__________ is NOT one of the new market realities identified by Fred Wiersema.
A.Increase in demand
B.Customers have less time than ever
C.Information overwhelms and depreciates
D.All secrets are open secrets
E.Competitors proliferate
Fred identifies ‘six new market realities” in support of this trend: Competitors
proliferate, all secrets are open secrets, innovation is universal, information overwhelms
and depreciates, easy growth makes hard times, and customers have less time than ever.
If a seller requires an intermediary to purchase a supplementary product to qualify to
purchase the primary product the intermediary wishes to buy, a(n) ______________ is
in place.
A.Exclusive contract
B.Management contract
C.Exclusive dealing
D.Exclusive territory
E.Tying contract
A tying contract is said to be in place if a seller requires an intermediary to purchase a
supplementary product to qualify to purchase the primary product the intermediary
wishes to buy.
The producers of a successful animated television program for children entered into
agreements with restaurants and toy manufacturers, giving them the right to use the
brand in exchange for a set fee or percentage of sales. This is an example of _______.
A.Family branding
B.Store Branding
C.Stand-alone branding
D.Co-branding
E.Licensing
Companies can choose to extend their brand by offering other manufacturers the right
to use the brand in exchange for a set fee or percentage of sales. This is known as
licensing.
Getting the customer to actually make a purchase is the ________ stage of the AIDA
model.
A.Decoding
B.Interest
C.Desire
D.Action
E.Attention
The action stage is the purchase itself.
Fernandez Brothers, Inc. provides accounting services to small businesses. Before and
after tax season, the partners meet with each client company. It sends a monthly
newsletter to update clients with tax changes. The firm’s business practices revolve
around putting the customer at the center when developing services and practices.
Fernandez Brothers has adopted a ________________ approach.
A.Market orientation
B.Mass customization orientation
C.Differentiation orientation
D.Relationship orientation
E.Product orientation
Keeping and cultivating current customers is far more profitable than constantly having
to invest in gaining new customers that come with unknown return on investment.
Since Fernandez Brothers, Inc. is interested in building and maintaining long-term
relationships with its customers, the approach adopted is relationship orientation.
Different target markets will view the same product _________.
A.In exactly the same way
B.In completely different ways
C.In ways that are so similar it does not matter to the marketer
D.In only economic terms
E.Rationally
It is important for the marketer to understand exactly what the customer includes in a
product experience, but this is a difficult challenge because different target markets will
view the same product in completely different ways.
Describe the two types of touchpoints.
What are the three tasks in the development stage of the new product process?
You need to design a message for “Breast Cancer Awareness”, which is the best
category of promotional appeal and why?
How can a firm create marketing-driving strategies? Give an example.
Why do firms employ marketing research systems?
What is culture? How has technology affected culture? Why should marketers be aware
of culture?
Rosa, a marketing consultant, is preparing a report for a client that produces lumber for
use in the housing market. She is writing a section on market demand and needs to
explain the three types of demand. How should she explain this to her client?
John manages a shoe store in a town of 40,000 that is the major trading center for the
surrounding rural communities. He has known many of the customers for the forty
years he has run the store. He sees no reason to invest in even the simplest of CRM
systems. What would you say to John to change his mind?
Damien is looking to gain maximum product exposure through the channel. What
strategy would be best for him to use?
How does CRM facilitate a customer-centric culture through formalization?