In general, personal selling is one of the most helpful tools for closing sales.
In the new communication environment, advertising is often the single most important
element of a marketing communications program for sales and building brand and
customer equity.
Problem removal and normal depletion are examples of positively oriented relevant
brand needs.
An environmental threat is a challenge posed by an unfavorable trend or development
that, in the absence of defensive marketing action, would lead to lower sales or profit.
The competitive frame of reference defines which other brands that a brand competes
with.
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.
The most attractive segment is one in which entry barriers are low and exit barriers are
high.
The basis of cohort segmentation is that the experiences of key defining moments
during the time when an individual becomes an adult can influence his or her values,
preferences, and buying behaviors for the rest of his or her life.
Concentrated advertising is well suited for products with one selling season or related
holiday.
Brick-and-click companies are those that have launched a Web site without any
previous existence as a firm.
The network marketing sales system works by recruiting independent businesspeople
who act as distributors.
A marketing audit covers the marketing organization and its systems and strategies,
rather than the macroenvironment.
An example of communicating category membership by relying on the product
descriptor is Ford’s positioning of its Freestyle automobile, which combines the
attributes of an SUV, a minivan, and a station wagon, as a ‘sports wagon.”
A segment is attractive when there are actual or potential substitutes for the product.
Marketers have the major responsibility for identifying significant changes in the
marketplace.
In its focus on bottom-line financial value, the ________ approach offers limited
guidance for go-to-market strategies and does not fully account for competitive moves.
A) brand equity
B) brand value chain
C) customer tracking
D) customer equity
E) brand extension
If the goal of marketing research is to shed light on the real nature of a problem and to
suggest possible solutions or new ideas, the research is said to be ________.
A) descriptive
B) quantitative
C) primary
D) secondary
E) exploratory
________ includes all the activities in selling goods or services directly to final
consumers for personal, nonbusiness use.
A) Wholesaling
B) Retailing
C) Procurement
D) Promoting
E) Warehousing
Suppose an individual buyer purchases three pairs of shoes each year at $50 each pair
and that there are 50 million such consumers in the economy. Compute the total market
potential for shoes.
A) $5,000 million
B) $6,500 million
C) $7,500 million
D) $10,000 million
E) $75 billion
Which marketing channel is associated with the highest value added per sale?
A) retail stores
B) sales force
C) distributors
D) Internet
E) telemarketing
The heart of the internal records system is the ________ because customers favor firms
that can promise timely delivery.
A) sales information system
B) data mining system
C) order-to-payment cycle
D) information needs probe
E) data warehouse
A ________ offering consists of two parts: a naked solution and discretionary options.
A) differentiated market
B) flexible market
C) rigid market
D) vertical market
E) horizontal market
A group of small sellers takes the initiative and organizes a new business entity to carry
on wholesaling and possibly some production. This entity is called a(n) ________.
A) retailer cooperative
B) franchise organization
C) area-based cartel
D) sponsored voluntary chain
E) alternate selling channel
A(n) ________ appeal is a creative strategy that elaborates on product or service
attributes or benefits.
A) aesthetic
B) informational
C) bandwagon
D) emotional
E) transformational
The main advantage of co-branding is that a product may be convincingly positioned by
virtue of the ________ involved.
A) branding synergy
B) increased advertising dollars
C) multiple brands
D) bundled package
E) pure bundling
The approach to cost reduction that studies whether components can be redesigned or
standardized or made by cheaper methods of production without adversely impacting
product performance is termed as ________.
A) maintenance, repair, and operating (MRO)
B) product value analysis (PVA)
C) vendor managed inventories (VMI)
D) supplier performance management (SPM)
E) supplier added value effort (SAVE)
In addition to its store brands and nationally well-known brands of detergents,
Reynold’s also carries much cheaper varieties of detergents that are not advertised and
have little-known names. They are often manufactured from lower-quality ingredients
and save on packaging and advertising costs. These are known as ________.
A) common carriers
B) shills
C) generics
D) private labels
E) marques
Which of the following statements is TRUE about licensing?
A) It is one of the most complex ways to engage in international marketing.
B) The licensor gains entry into the new market at low risk.
C) The licensee has no access to proprietary information.
D) The licensee receives a fee or royalty.
E) The licensor can use a manufacturing process or trademark for a fee.
For a new manufacturer managing product support for its equipment, what is usually
the first strategy for postsale service?
A) letting customers hire their own service people to work on-site
B) letting independent services handle repairs and maintenance
C) pricing equipment high and charging low prices for service
D) running the company’s own parts-and-service department
E) switching maintenance services to authorized distributors
The two-step flow supports the notion that consumption styles are primarily influenced
by a “trickle-down” or “trickle-up” effect from mass media.
A medical “detailer” that represents an ethical pharmaceutical house, who builds
goodwill or educates the actual or potential user but is not permitted to take an order, is
an example of a ________.
A) missionary salesperson
B) technician
C) demand creator
D) solution vendor
E) deliverer
Regular maintenance and repair costs are known as ________ costs.
A) service contract
B) out-of-pocket
C) fixed
D) facilitating services
E) value-augmentation
Which of the following is the most constructive response a market leader can make
when defending its market share?
A) maintain basic cost control
B) innovate continuously
C) provide desired benefits
D) meet challengers with a swift response
E) provide expected benefits
Door-to-door sales, home parties, mail order, telemarketing, TV selling, Internet selling,
and manufacturer-owned stores are examples of ________.
A) zero-level channels
B) jobbers
C) wholesalers
D) manufacturer’s representatives
E) consumers
Customer profitability analysis is best conducted with the tools of an accounting
technique called ________.
A) input-output analysis
B) factor analysis
C) revenue-based costing
D) activity-based costing
E) future date costing
Identify the elements of a tactical marketing plan for a new kind of cola.
________ refers to the decision-making process by which formal organizations
establish the need for purchased products and services and identify, evaluate, and
choose among alternative brands and suppliers.
A) Marketing channels
B) Organizational buying
C) Corporate retailing
D) Brand auditing
E) Inventory control
When a consumer considers a product or service, he or she will choose whichever
product or service delivers the highest ________.
A) customer-perceived value
B) customer-perceived cost
C) customer profitability analysis
D) customer equity
E) customer lifetime value
Annual-plan control requires making sure the company isn’t overspending to achieve
sales goals. To do this, management sets monthly or quarterly goals, monitors
marketing performance in the marketplace, ________, and takes corrective action.
A) conducts a SWOT analysis
B) develops tactical plans
C) conducts a marketing audit
D) hires a marketing controller
E) determines the cause of serious performance deviations
Purchasers of theatre tickets receive a 20 percent discount if they purchase and pay for
the full season at one time. This is an example of what type of product-mix pricing?
A) mixed bundling
B) pure bundling
C) product line pricing
D) captive-product pricing
E) two-part pricing
When a company acquires consumer-panel data from firms like A.C. Nielsen Company
and Information Resources Inc., which of the following steps to improve the quality of
a company marketing intelligence system is the company resorting to?
A) training and motivating the sales force to spot and report new developments
B) motivating distributors, retailers, and other intermediaries to pass along important
intelligence
C) hiring external experts to collect intelligence
D) using external network
E) purchasing information from outside research firms and vendors
Services account for nearly ________ percent of global trade.
A) 10
B) 33
C) 20
D) 67
E) 90
Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and
she knows that the product is a success. She has started considering whether or not to
buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in?
A) awareness
B) adoption
C) evaluation
D) trial
E) interest
Premiums, as a consumer promotion tool, are defined as ________.
A) offers to consumers of savings off the regular price of a product, flagged on the label
or package
B) certificates entitling the bearer to a stated saving on the purchase of a specific
product
C) programs providing rewards related to the consumer’s frequency and intensity in
purchasing the company’s products or services
D) merchandise offered at a relatively low cost or free as an incentive to purchase a
particular product
E) values in cash or in other forms that are proportional to patronage of a certain vendor
or group of vendors
People in emerging countries today are becoming increasingly health conscious and are
seeking healthy food choices. As a result, demand for health foods is rising steadily,
creating an opportunity for marketers to exploit this ________ market.
A) demographic
B) business
C) need
D) geographic
E) service
The responses marketers seek from prospects include all of the following EXCEPT
________.
A) decampment
B) attention
C) a purchase
D) a vote
E) a donation
The decline in the average cost of production with accumulated production experience
is called the ________.
A) demand curve
B) supply chain
C) learning curve
D) value chain
E) indifference curve
Service quality depends on who provides them, when and where they are provided, and
to whom they are provided. Thus, services are highly ________.
A) inseparable
B) tangible
C) variable
D) perishable
E) intangible
As the marketing manager for your firm, you have been approached by your key
component manufacturer suggesting that your two firms use “ingredient branding” of a
new item. What are the basic goals of ingredient branding?
Describe the five ways companies use database marketing.
Identify the major reasons why new product failures occur.
Describe the communication-effect research method of evaluating advertising
effectiveness.
Name the three choices that companies have for setting prices in different countries.
Define internal marketing and its role in the company. Outline how various departments
within the company can demonstrate a customer focus.
Briefly explain the various levels of marketing channels.
What is integrated marketing communications? What is its significance in the current
marketing environment?
What is the relationship between Apple’s brand and its value proposition?
You know that marketers have traditionally classified products based on characteristics
of durability, tangibility, and use. You also know that each product type has an
appropriate marketing-mix strategy attached. In analyzing your company’s products,
you decide to list each of these products and the appropriate marketing-mix strategy to
understand where your products “fit.” List these products and their appropriate
marketing-mix strategies.
List and briefly explain the four distinctive characteristics of services.
Give an example of how a hotel can generate customer loyalty at a “customer touch
point”.
What are the choices available to companies when setting prices to avoid price
escalation problems?
Explain how fluctuating demand impacts business markets differently from consumer
markets.
Briefly explain the concept of annual-plan control.