In some cases, the types of services offered by a supplier may constitute a primary
advantage over suppliers of similar products.
a. True
b. False
A market segment profile provides customers with an understanding of how a business
can use its capabilities.
a. True
b. False
The real value of marketing research to the organization can best be measured by:
a. its immediate impact on profits of the firm.
b. the amount of time spent in conducting the research.
c. the costs incurred during the market research.
d. improvements in the ability to make decisions.
e. the increase in sales volume or market share.
The accumulation of past income, natural resources, and financial resources is known
as:
a. income.
b. collected income.
c. credit.
d. wealth.
e. savings.
A marketing plan:
a. is characteristic of production-oriented firms and other mass producers.
b. provides a framework for implementing and controlling marketing activities.
c. always increases the marketing manager’s operating costs.
d. produces plans that are short term in orientation.
e. restricts the marketing manager’s future options.
Contract manufacturing occurs when a firm pays a commission or royalties on sales or
supplies used in manufacturing.
a. True
b. False
Steinway produces concert grand pianos, often using the custom materials and designs
desired by a specific customer. The average price of these pianos runs about $50,000
depending on the exact piano. What type of pricing does Steinway most likely use for
these pianos?
a. Markup
b. Competition-based c. Cost-plus
d. Demand-based
e. Secondary-market
A marketing manager decides what combination of variables is needed to satisfy
customers’ needs for a general type of product. What are the essential variables that the
marketing manager combines?
a. Product, price, distribution, and promotion variables
b. Marketing environment variables
c. Target market variables
d. Product, price, and customer variables
e. Customer and promotion variables
The label on a window air conditioner reads ‘œuses up to 20% less energy.’ For what
reason is this phrase most likely used?
a. For environmental safety
b. To void competition
c. To promote the product
d. To satisfy legal requirements
e. To encourage healthy competition
Which of the following refers to the strategic process of distributing, promoting, pricing
products, and discovering the desires of customers using digital marketing?
a. Digital orientation
b. Digital media
c. Electronic marketing
d. Digital electronics
e. Electronic processing
The sales forecasting method that involves making a product available to buyers in one
or more test areas and measuring purchases and consumer responses to the product,
distribution, promotion, and price is called .
a. a market test
b. regression analysis
c. trend analysis
d. a survey
e. the Delphi technique
Scenario 5.1
Use the following to answer the questions.
Lil’ Angels Kids Spa offers various treatments designed to appeal to the younger
customers. Treatment options include manicures, pedicures, facials, tea parties, and
dress up photos. Parents can even purchase a birthday party package. Currently, Lil’
Angels offers its services only to girls under the age of 14. Originally begun in
Delaware, Lil’ Angels is considering opening its spa/salons in other parts of the country
and is planning to expand its offerings to girls aged 14 to 17. The company realizes that
some changes may be needed. For example, the management wants to find out if the
older girls will be interested in their birthday party and tea party services.
Lil’ Angels Kids Spa is currently using a(n) targeting strategy.
a. undifferentiated
b. exclusive
c. concentrated
d. differentiated
e. selective
Nabisco is considering two pricing objectives. The first is to sell one out of every three
crackers consumed in the world, an objective based on__________; the second is to
meet, but not beat, competitor’s prices of cookie products, which is
a___________objective.
a. cash flow; market share
b. market share; cash flow
c. survival; status quo
d. market share; survival
e. market share; status quo.
Business products are .
a. purchased for personal consumption
b. chosen on the basis of preferences expressed by a business procurement department
c. purchased for both their functional aspects and their psychological rewards
d. classified according to their characteristics and intended uses
e. not purchased by private organizations
Bart’s Appliance Center owner Ron Bart feels that his organization has access to a great
deal of information generated both inside and outside the firm, but much of this
information is presently going waste. Apparently, Bart needs to develop a
a. marketing research focus
b. marketing knowledge bank
c. marketing information system
d. marketing strategy
e. data-gathering system
What is brand loyalty? Explain the three degrees of brand loyalty.
Give a brief account of a strategic business unit (SBU).
What marketing and ethical problems can bribes create in international marketing
transactions?
Identify and discuss the general steps in the personal selling process.
Scenario 18.1 Use the following to answer the questions.
The Toyota Corporation is developing its promotional plan for the coming year and is
considering several types of advertising to communicate its messages. Toyota will
likely advertise its new vehicle, the Venza, on TV, on its website, in major national
magazines, and through Facebook. It is possible that the ads could focus on the features
of the Venza and its most likely competitor, the Ford Edge. Other forms of advertising
that can be considered are ads that feature all of the Toyota brands in a single ad, while
mentioning only the Toyota brand and its company’s strengths. Finally, Toyota will
probably continue to advertise updates of its cash cow brands, the Camry and the hybrid
versions of its SUVs. Toyota’s television advertisements for the new Venza are
examples of_____, while Facebook ads are examples of______
a. publicity; product advertising.
b. institutional advertising; comparative
c. product advertising; social media d. comparative advertising; social media
e. pioneer advertising; social media
What are the factors that marketers should consider while selecting a brand name?