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The penetrated market is the set of consumers who have an interest in a market offer but
do not have the accessibility.
In response to a short-term oversupply of wine in the marketplace, the makers of
Kendall-Jackson developed two new brands by using rapid prototyping '” designing
products on a computer and producing rough models to show potential consumers for
their reactions '” to quickly bring its ideas to life.
Country-of-origin effects refer to the attitude anything produced by the home country is
better than imported goods.
In counteroffensive marketing, the market leader can meet the attacker frontally and hit
its flank, or launch a pincer movement so that it is forced to pull back to defend itself.
In the future, there will be greater emphasis on precision marketing as opposed to mass
marketing.
Retailing includes all the activities involved in selling goods or services directly to final
consumers.
Many consumers use price as an indicator of quality and value.
Total costs consist of the sum of the fixed and the variable costs for any given level of
production.
Marketers must judge each potential brand extension by how effectively the brand
leverages existing brand equity from the parent brand, as well as how effectively, in
turn, it contributes to the parent brand's equity.
A principle of the value chain is that every firm is a synthesis of activities performed to
design, produce, market, deliver, and support its product.
Sales promotion consists of a collection of incentive tools designed to mainly stimulate
long-term brand associations of products or services with consumers or the trade.
Researchers usually start their investigation by examining some of the rich variety of
low-cost and readily available ________ data, then collect ________ data if the needed
data don't existing or are dated, inaccurate, incomplete or unreliable.
A) primary; secondary
B) secondary; primary
C) primary; econometric
D) secondary; econometric
E) exploratory; econometric
When customers calculate the perceived economic benefits of a continuously provided
service in relationship to the economic costs, they are gauging the ________ equity.
A) private
B) brand
C) payment
D) customer-service
E) product-service
According to the BrandAsset® Valuator model, which of the components of brand
equity measures the breadth of a brand's appeal?
A) differentiation
B) relevance
C) esteem
D) knowledge
E) value
Which of the following strategies should be adopted by marketers during a recession?
A) increase investment on marketing existing products
B) focus on expanding the customer base and not on the retention of existing customers
C) focus primarily on price reductions and discounts
D) concentrate on communicating the brand value and product quality to consumers
E) stick to the budget allocations adopted during the preceding years
Many people believe that customer focus does not help to create better, or new,
products. This belief rests on which of the following ideas?
A) Such new product developments decrease the chances of success.
B) Customers do not consider the cost of design when making suggestions.
C) Customers are at times unaware of what they really want.
D) It increases the cost of testing a product or service.
E) Having too much customer focus leads to a negative brand image.
Which of the following is NOT one of the four planning activities undertaken by all
corporate headquarters?
A) defining the corporate mission
B) establishing strategic business units
C) assigning resources to each SBU
D) assessing growth opportunities
E) deciding sales channels
Which of the following is a sales promotion tool that is consumer franchise building in
nature?
A) price-off packs
B) contests and sweepstakes
C) consumer refund offers
D) trade allowances
E) frequency awards
Which of the following can cause a firm to choose joint ventures as a mode of
expansion into foreign markets?
A) excellent managerial resources
B) lack of sufficient finances
C) lack of conflicting regulations in the host country
D) preferences of target consumers in the host country
E) psychic proximity of the host country
Rotter Garder Inc. is a large-scale paint manufacturer and is known for its wide range of
decorative paint products and industrial coatings. In addition to making paints, the
company also owns and operates the retail stores that sell its products. This is an
example of a(n) ________ vertical marketing system.
A) administered
B) contractual
C) referent
D) corporate
E) regulated
In evaluating different market segments, the firm must look at two factors: the
segment's overall attractiveness and the ________.
A) company's objectives and resources
B) effectiveness of the suppliers
C) flexibility of legal rules governing the business
D) socioeconomic infrastructure
E) global nature of the product
Which of the following is a benefit of franchising for franchisees?
A) The franchisee finds it easier to borrow money from financial institutions.
B) The franchisee receives ownership of the franchisor's trademark.
C) The franchisee must change its operations to suit those of the franchisor.
D) The franchisee collects royalty payments from the franchisor.
E) The franchisee is paid by the franchisor for being part of the system.
________ provide diagnostic information about how and why we observe certain
effects in the marketplace, and what that means to marketers.
A) Marketing insights
B) Marketing metrics
C) Marketing channels
D) Marketing information systems
E) Marketing-mix models
Sally Seabrook is an up-and-coming marketing manager for a large department store
chain. Ms. Seabrook has distinguished herself with bold strategies such as launching
attacks on her primary competitor from several fronts, including advertising, new store
openings, and new distributor alliances. Which of the following market challenger
attack strategies is Ms. Seabrook using to attack her competition?
A) frontal attack
B) bypass attack
C) guerrilla attack
D) flank attack
E) encirclement attack
Pegasus writes about its target market and demographics in the ________ section of its
marketing plan.
A) executive summary
B) implementation
C) situation analysis
D) strategy
E) tactics
Of the four organizational levels, the corporate level is likely to make which of the
following decisions?
A) entering a new market
B) resource allocation for each product
C) strategic plan for individual business units
D) choosing specific suppliers for each business unit
E) marketing plan for each product
Given that the power of a brand resides in the minds of consumers and how it changes
their response to marketing, there are two basic approaches to measuring brand equity.
Briefly, describe each of these approaches.
Jayne runs a small grocery store in a small town. As there are only a few customers, the
store does not require to stock goods in large quantities. Explain why sourcing products
from a wholesaler will be beneficial for Jayne.
Explain the concept of line stretching and the three uses for it.
What is a marketing audit? Explain the four characteristics of a marketing audit.
What is the significance of performing business analysis?
Not everyone is in favor of local marketing. Identify two arguments made against local
marketing.
What are some of the ways a firm can draw new ideas from its customers?
Several strategies exist for managing the supply and demand of services. List the
strategies for managing each and give an example of each strategy.
