Custom marketing research firms sell field interviewing services to other firms.
When a manager is trying to identify how the company can efficiently create promising
new offerings, he is addressing the question of value delivery.
An example of a subculture would be a person’s geographic region.
Importance-performance analysis rates the various elements of the service bundle and
identifies required actions.
Order-processing costs must be compared with inventory-carrying costs because the
larger the average stock carried, the higher the inventory-carrying costs.
When consumers evaluate the risks associated with a purchase, only real risks with a
high likelihood of occurrence should be considered.
Sensory memory is the virtually unlimited repository where information that we
encounter as we go through life ends up.
A waterfall approach to entering foreign markets is described as entering countries
simultaneously.
The customer value triad consists of a combination of quality, durability, and price.
A question that respondents can answer in an almost unlimited number of ways like
“What is your opinion of Cracker Barrel?” is a completely unstructured question.
The production concept is one of the newest concepts in business.
Luxury brands are usually not global because they target a niche market.
The 80-20 rule reflects the idea that ________.
A) 20 percent of the company’s profits are generated by the top 80 percent of customers
B) the top 20 percent of customers are highly satisfied and 80 percent of customers will
recommend the company to a friend
C) 20 percent of customers are unprofitable, and 80 percent make up a company’s
profits
D) the top 20 percent of customers often generate 80 percent of the company’s profits
E) any new product will be accepted by 20 percent of the customers immediately, but
80 percent of the customers will be up for grabs throughout the product’s life cycle
Differentiating on ________ is important for companies with complex products and
becomes an especially good selling point when targeting technology novices.
A) delivery
B) ordering ease
C) ease of installation
D) customer consulting
E) reparability
The most important determinant of service quality is ________ which refers to the
ability to perform the promised service dependably and accurately.
A) empathy
B) assurance
C) responsiveness
D) reliability
E) tangibles
If married and unmarried women respond similarly to a sale on perfume, these
hypothetical segments fail the ________ criterion for useful market segments.
A) measurable
B) substantial
C) accessible
D) differentiable
E) actionable
Plastics.com allows plastics buyers to search the best prices among thousands of
plastics sellers. Plastics.com is an example of a(n) ________.
A) buying alliance
B) barter market
C) systems seller
D) vertical market
E) auction site
Activists used ________ to populate the Internet with unflattering information about
Nike.
A) banner ads
B) YouTube videos
C) goodwill
D) search engine optimization
E) brand studies
________ measures the impact of a set of causal factors (such as income, marketing
expenditures, and price) on the sales level.
A) Time-series analysis
B) Statistical demand analysis
C) Econometric analysis
D) Cost effectiveness analysis
E) Exponential smoothing
________ refers to a set of distinguishing human psychological traits that lead to
relatively consistent and enduring responses to environmental stimuli.
A) Image
B) Personality
C) Psychological transformation
D) Lifestyle
E) Acculturation
The ________ copies some things from the leader but differentiates on packaging,
advertising, pricing, or location.
A) innovate
B) adapt
C) cloner
D) imitator
E) counterfeiter
Total customer satisfaction is measured based on the relationship of ________.
A) expected value and total customer benefit
B) perceived performance and expectation
C) advertised outcomes and real outcomes
D) past experience and present experience
E) customer attitude and salesperson’s attitude
Marketing effectiveness rating instruments and marketing audits are approaches to
________ control.
A) annual-plan
B) profitability
C) efficiency
D) strategic
E) statistical
James Frank has been put in charge of gathering marketing intelligence, disseminating
it within his organization, and eventually directing action on the information. Mr.
Frank’s task is best described as part of the ________ process.
A) market-sensing
B) new-offering realization
C) customer acquisition
D) customer relationship management
E) fulfillment management
With respect to the ‘six brand building blocks,” brand ________ are customers’
emotional responses and reactions with respect to the brand.
A) imagery statements
B) judgments
C) performances
D) feelings
E) resonances
If you decided to go into the systems contracting business, which of the following
categories would constitute your main area of expertise?
A) computer applications
B) database management
C) manufacturing
D) promotion management
E) MRO (maintenance, repair, operating) supplies
A new firm typically starts as a local operation selling in a fairly circumscribed market
by ________.
A) finding and developing new intermediaries
B) using a few existing intermediaries
C) forming partnerships with the market leader
D) creating a special channel
E) forming partnerships with other firms
Exxon Consulting works as an agent on behalf of business consumers to collect
information on various industrial products. When faced with buying decisions,
businesses can approach Exxon to obtain detailed information on the various options
available to them. The company earns revenue by selling such information to various
customers. Exxon Consulting can be called a(n) ________.
A) infomediary
B) market maker
C) customer community
D) third party arbitrator
E) informant
The three criteria that determine whether a brand association can truly function as a
point-of-difference include desirability, ________, and differentiability.
A) discrimination
B) customerization
C) implementation
D) deliverability
E) demand
A brand that is action-oriented and causes consumers to engage in physical actions
appeals to the ________ dimension of brand experience.
A) sensory
B) affective
C) behavioral
D) intellectual
E) social
In the FABV approach, if the salesperson is discussing the monetary terms associated
with the offering, s/he is talking about ________.
A) features
B) advantages
C) benefits
D) value
E) macroenvironment
A marketer interested in segmenting a business market based on ________ intends to
eventually segment the market based on power structure and nature of existing
relationship.
A) situational factors
B) purchasing approaches
C) personal characteristics
D) operating variables
E) demographic variables
Those who favor localized marketing see national advertising as wasteful because it
________.
A) gets too up close and personal with consumers
B) drives up manufacturing and marketing costs by reducing economies of scale
C) magnifies logistical problems
D) fails to address local needs
E) sends conflicting marketing messages
As a business practice, broadening involves ________.
A) acquiring or merging with firms in the same or complementary industries to gain
economies of scale and scope
B) factoring the interests of customers, employees, shareholders, and other stakeholders
into the activities of the enterprise
C) buying more goods and services from outside domestic or foreign vendors
D) appointing teams to manage customer-value-building processes and break down
walls between departments
E) becoming more accountable by measuring, analyzing, and documenting the effects
of marketing actions
Which of the following organizations is likely to use the multiple-factor index method
to estimate the market potential?
A) a firm that manufactures auto parts
B) a firm that provides facility management services to large offices
C) a company that provides Web site development services for small businesses
D) a company that manufactures diagnostic machines for hospitals
E) a firm that manufactures fashionable clothes for teenagers
List some recent trends in retailing.
Local marketing reflects a growing trend called grassroots marketing. What are the
characteristics of grassroots marketing?
Name a few products for which personal influence plays a significant role in marketing
communications.
Assume that you are the marketing manager of a firm that manufactures athletic shoes.
How will you launch an encirclement attack on your competitor?
Brand equity has four components ‘” energized differentiation, relevance, esteem, and
knowledge. How are these components combined to produce brand strength and brand
stature?
Briefly explain the various service outputs that marketing channels produce.
Provide three examples of negatively correlated attributes and benefits.
Bryson’s is a mid-sized hotel chain that is entering a competitive market. The chain
needs to differentiate its service from that of competitors, positioning itself as a hotel
chain with excellent service at an affordable price. How can it achieve this using
internal marketing?