A _________approach is also popularly called a niche strategy.
A.Customized marketing
B.Differentiated target marketing
C.Concentrated target marketing
D.Mass marketing
E.One-to-one marketing
A concentrated target marketing approach, which Michael Porter refers to as a focus
strategy and is also popularly called a niche strategy, involves targeting a large portion
of a small market.
A marketing research firm is collecting data for a client that sells cold weather apparel.
The client is interested in a promotion effectiveness study and an assessment of
effectiveness of marketing mix. The client is focusing on what stage of marketing
planning?
A.Situation Analysis
B.Target Market Selection
C.Marketing Mix Planning
D.Marketing Control
E.Logistic Design
Marketing control stage of the marketing planning process deals with promotion
effectiveness study and an assessment of effectiveness of marketing mix.
When a seller advertises an item at an unbelievably low price to lure customers into a
store, and then refuses to sell the advertised item and instead pushes a similar item with
a much higher price and higher margin, the seller is participating in the illegal practice
of ________________.
A.Price fixing
B.Price discrimination
C.Deceptive pricing
D.Bait and switch
E.Predatory pricing
When a seller has no true intent to actually make the lower priced item available for
sale, the practice is called bait and switch.
Jose is the machine press operator in a small manufacturing facility. He has been on the
job for 7 years and has taken extensive training courses with respect to his machine.
Jose will most probably play the role of a(n) __________ in the buying process.
A.Influencer
B.User
C.Decider
D.Operator
E.Key holder
Users (like Jose) are the actual consumers of the product. While typically not the
decision makers, they do have a lot of input at various stages of the process. They
recognize the problem, help define the product specifications, and provide critical
feedback after the product purchase.
Carl, a customer solutions manager for a wholesale air conditioning and heating
company, has empowered his employees to take action on any customer issue. One way
to motivate employees to do the best for the customer is to ____________.
A.Pay them on a gross sales commission
B.Reward then for always putting the customer first
C.Praise them to the company as a whole
D.All of the above
E.B and C
It is important that the firm realign its performance management system, such as
incentives and rewards, to motivate utilization of CRM by organization members.
When a marketer groups customers according to their desire for the crucial
value-adding properties of an offering, the marketer is using _________.
A.Psychographic segmentation
B.Social class segmentation
C.Income segmentation
D.Benefit sought segmentation
E.Geodemographic segmentation
When a marketer groups customers according to their desire for the crucial
value-adding properties of an offering, the marketer is using benefit sought
segmentation.
___________ would not be a good product for using gender segmentation.
A.Clothes
B.Perfume
C.Toothpaste
D.Wrist watches
E.Shoes
Toothpaste is not associated with maleness or femaleness. But the other products
mentioned in this example are clearly marketed for the primary consumption of either
men or women.
_____________ sells merchandise or services that are stored in a machine then
dispensed to the consumer when the payment has been made.
A.Vending machine retailing
B.Supermarket
C.Electronic retailing
D.Direct selling
E.Television home shopping
Vending machine retailing sells merchandise or services that are stored in a machine
then dispensed to the consumer when the payment has been made.
Wooden Lifestyles is a manufacturer of household furniture. If consumers are not
buying its furniture, then there is no need for the company to purchase lumber. This
indicates that the demand for lumber is __________.
A.Unitary demand
B.Downward sloping demand
C.Derived demand
D.Equal demand
E.Elastic demand
Demand for B2B products originates from the demand for consumer products, or, put
another way, demand for B2B products is derived demand.
______________ are direct, immediate reductions in price provided to purchasers.
A.Fixed costs
B.Variable costs
C.Total costs
D.Discounts
E.Allowances
Discounts are direct, immediate reductions in price provided to purchasers. Discounts
can be provided for variety of reasons such as paying a bill early, purchasing a certain
quantity, and so on.
How do core competencies differ from distinctive competencies?
How does a weak link in the value chain undermine the entire value proposition?
Maxwell has just finalized production of his updated, high end plates and glasses. He
would like to position his products as prestigious and utilize premium pricing. What is
the best way for Maxwell to get his product to the right retailers at the right price?
Define behavioral data, list its benefits and give examples of how to collect it.
Give an example of how selective retention can hurt an organization.
Kristal just got back from a friend’s house where she thought she was showing up for a
meeting to set up a book club with all of her friends. When Kristal arrived at her
friend’s house she was very disappointed to find that there was a table with lots of
jewelry items displayed. Kristal’s friend had become a salesperson for Jubilant Jewelry
and was making a sales pitch to all of her friends. What form of retail does Kristal’s
friend work in?