Objectives are measurable and goals are broad statements of generally desired
accomplishments in support of the firm’s mission statement.
It is not common for multiple retailers to target the same group.
A market information system is a software package that companies purchase to help
decision makers cope with critical information.
B2B companies often have a few companies that represent a large portion of their sales.
This means that losing one large customer has striking implications for the company.
Assortment is referred to as the depth of merchandise.
The three customer brand roles are conveying information, educating the customer
about the product, and reassuring the customer during the purchase decision.
Firms should not be concerned that satisfied customers will switch to another brand.
More than any other discriminator, style offers a company the advantage of _______.
A.Being a low cost differentiator
B.Being easy to do consistently over time
C.Being able to reduce quality with greater style
D.Being difficult for competition to copy
E.Being the same over time
Style refers to the look and feel of the product and it offers the advantage of being
difficult to copy.
____________, in whatever form, is the point of contact in the supply chain with the
consumer of the product.
A.Retailing
B.Branding
C.Warehousing
D.Transportation
E.Inventory management
Retailing is an essential component of the supply chain because it represents the point
of contact in the supply chain with the consumer of the product.
_____________ is the number of different product items within a product category.
A.Assortment
B.Variety
C.Breadth of merchandise
D.Product mix
E.Product penetration
Assortment is the number of different product items within a product category and is
referred to as the depth of merchandise.
Customer loyalty is defined as ______________.
A.Repeat purchases
B.The degree to which an individual will resist switching from one offering to another
C.The level of liking an individual harbors for an offering
D.Customer laziness in trying new products
E.The likelihood that a customer become a buzz marketer
Customer loyalty is derived from high satisfaction, high perceived value, and a strong
relationship with the provider and its brand(s).
___________________ is an interactive marketing system that uses personal
communication with a customer by means other than a salesperson.
A.Advertising
B.Sales promotion
C.Direct marketing
D.Public relations
E.Personal selling
Direct marketing is an interactive marketing system that uses one or more advertising
media to affect a measurable response and/or transaction at any location. It constitutes a
personal communication with a customer by means other than a salesperson.
Concerned by recent negative trends in economic indicators such as the Consumer Price
Index, Gross Domestic Product, and inflation, the marketing manager of Kevin’s
Kayaks recommends that the company reduce its advertising spending. His
recommendation is based on ________ data.
A.Microeconomic
B.Macroeconomic
C.Government
D.Numerological
E.Incomplete
Macroeconomics gives a “big picture” perspective for an economy and indicates broad
economic trends. The indicators such as Consumer Price Index, Gross Domestic
Product, and inflation, are macroeconomic indicators.
Hernandez Brothers manufactures trailers that are used by lawn service companies. The
company was started in Texas by their father but has expanded in the last 12 years to
include 26 sales and service centers throughout the southeast. Mostly likely, the
company is using a generic strategy based on _________.
A.Retrenchment
B.Stability
C.Market development
D.Growth/Concentration via vertical integration
E.Growth/Concentration based on horizontal integration
By expanding lawn care services, the firm is growing using horizontal integration.
Vertical integration would imply the firm would buy companies such as plant nurseries
or suppliers to lawn care companies.
Marketing research about competitive packaging, packaging trends, defining brand
image descriptors, identifying of brand name/symbol, and package development or
redesign are related to the _____ aspect of the marketing mix.
A.Product
B.Price
C.Place
D.Promotion
E.Management
Packaging and Branding are key components of the product component of the
marketing mix.
_____ drive(s) interactive marketing, controlling when, where, and how they interact.
A.The company
B.Intermediaries
C.Salespeople
D.Customers
E.Sales managers
Customers drive interactive marketing, controlling when, where, and how they interact.
While companies expand access to information and explore new methods to facilitate
the exchange process, customers define the relationship on their terms.
_____________ is a two-way communication process with the goal of securing,
building, and maintaining long-term relationships with profitable customers.
A.Sales promotion
B.Direct marketing
C.Personal selling
D.Publicity
E.Advertising
Personal selling is a two-way communication process between salesperson and buyer
with the goal of securing, building, and maintaining long-term relationships with
profitable customers.
What are the five important sources of channel power that French and Raven have
identified?
What are the five factors for determining sales person performance?
Discuss the difference in being market-driven and market-driving. Give examples of
each.
Haagen-Dazs introduces new ice cream, sorbet and frozen yogurt flavors every year.
Explain how they should allocate their marketing communication budget relative to
new products and existing products.
Jay and Martha went to Portugal on their honeymoon and stayed in a wonderful lodge
in wine country. They continue to tell their friends about the lodge even though they
have been married for 10 years. Most likely, this is the only trip they will make to the
remote region of Portugal. Are they satisfied or loyal customers?
Carianne works for Kenny. Kenny insists that when deciding which pricing objectives
to use, you just think of what you want and make it happen, independent of external
factors. Carianne knows better and is trying to explain to Kenny the importance of
pricing objectives and how they relate to other aspects of the business. How should
Carianne explain this to Kenny?
Discuss the factors used to understand sales force performance.