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Why is the demand for most services'”such as popular restaurants'”extremely
time-and-place dependent?
a. Because popular services typically lack sufficient capacity.
b. Because services cannot be stored for future use.
c. Because customers must be present for service to be delivered.
d. Because service customers are typically unsure of their needs.
e. Because competing services force customers to make tradeoffs between quality and
time.
When a firm analyzes its objectives and performance, availability of resources,
structural characteristics, and organizational culture, the firm is most likely examining
its:
a. internal environment.
b. external environment.
c. mission statement.
If you purchase a notebook computer from Dell, you will note several brand insignias
on the outside, such as Dell, Intel, and Microsoft Windows. What type of branding
strategy does this example represent?
a. co-branding
b. brand licensing
c. co-marketing
Microsoft's Windows platform dominates the market for personal computer operating
systems. By continuously upgrading and stretching the technology underlying its
Windows system, Microsoft is pursuing a strategy of:
a. customer intimacy.
b. product leadership.
c. operational excellence.
There are two types of monetary costs involved in the purchase of any product:
transactional costs and life-cycle costs. Which of the following best exemplifies a
life-cycle cost in the purchase of an automobile?
a. the actual purchase price
b. state or local taxes
c. anticipated repair expenses
Each of the following statements describes a unique characteristic of the business
buying process EXCEPT:
a. Business buyers have an easier time identifying their needs as compared to
consumers.
b. Business buyers must be keenly aware of both hard and soft costs.
c. Groups of people, rather than individuals, often make purchase decisions.
d. Business buyers are less likely to be dependent upon each other.
e. Business buying is sometimes based on reciprocity where each firm buys products
from the other.
One of the most common marketing goals during the introduction stage of the product
life cycle is to:
a. conduct test marketing studies.
b. maintain market share.
c. find new uses for the product.
d. engage in customer education activities.
e. spread misleading information about competing products.
One way of looking at __________ is to consider the marketing and financial value
associated with a brand's position in the marketplace.
a. brand equity
b. brand identity
c. brand equality
In the airline industry, companies like American, Delta, and US Air have a difficult time
competing because their industry has become commoditized. What does this mean for
firms in the airline industry?
a. Airline firms compete in a declining industry.
b. Airline customers have become increasingly demanding.
c. There is very little differentiation among product offerings in the industry.
d. The industry experiences very little change over time.
e. Airlines have been forced to develop partnerships to remain competitive.
When creating a corporate vision statement, organizations are attempting to answer
which of the following questions:
a. What do we want to become?
b. What business are we in?
c. What are our competitive advantages?
d. How can we be the best?
e. Who are we and what do we stand for?
Why is it important that marketing goals involve some degree of intangibility?
a. It makes it more difficult for competitors to determine the firm's marketing strategy.
b. It makes goals more consistent with the objectives that follow.
c. It makes goals easier to achieve.
d. It promotes learning by forcing employees to ask questions about the strategy.
e. It makes the goal more motivational and promotes continuous improvement
With respect to product descriptors, the product's __________ communicate(s) how the
product behaves, hopefully in a fashion that is distinctive and appealing to customers.
a. features
b. benefits
c. image
Strengths are typically based on the existence and nature of the __________ possessed
by the firm. Weaknesses stem from a lack of these important factors.
a. patents and capital
b. resources and relationships
c. customers and partnerships
Although the product is at the heart of the marketing program, it is important to
remember that product offerings in and of themselves have little value to customers. An
offering's real value comes from:
a. its superiority to competing products.
b. its ability to further the image of the organization.
c. its value (good quality at a low price).
d. its ability to deliver benefits that solve a customer's problems.
e. its easy of use and convenience.
When firms use a(n) __________ strategy, they focus their promotional efforts toward
stimulating demand among final customers, who then exert pressure on the supply
chain to carry the product.
a. pressurization
b. IMC
c. pull
A cluster of closely related goods and services that center around a specific
consumption activity is referred to as a:
a. marketspace.
b. market.
c. metamediary.
With respect to conducting a situation analysis, which of the following IS NOT one of
the four important issues to keep in mind?
a. Analysis alone is not a solution.
b. Data are not the same as information.
c. All bits of data are relevant no matter how minor they may seem.
d. The benefits of analysis must outweigh the costs.
e. Conducting a situation analysis is a challenging exercise.
In terms of the AIDA model, mass communication elements such as advertising and
public relations tend to be very effective at:
a. stimulating awareness of and interest in a product.
b. explaining highly complex and technical products.
c. stimulating immediate purchase of a product.
d. marketing high priced products.
e. closing the sale.
Colgate promotes its toothpaste using a claim that states 'helps fight plaque and
gingivitis.' What potential ethical issue does Colgate have with respect to its
promotional strategy?
a. bribery
b. ambiguous statements
c. fraud
Marketing implementation is critical to the success of any firm. Simply put,
implementation refers to:
a. how the marketing plan will be put into action.
b. how the marketing plan will be approved by top management.
c. the process by which employees learn about the marketing strategy.
d. the process by which the marketing strategy will be developed.
e. deciding who will actually write the marketing plan.
Identifying specific marketing activities, determining the time required to complete
each activity, and organizing marketing activities into the proper sequence are examples
of the steps involved in creating a(n):
a. marketing plan.
b. control framework.
c. strategic activities list.
At WainPort Industries, the firm's senior managers approach marketing implementation
with the belief that marketing strategy should be developed at the top of the
organization and then transmitted to lower levels where frontline managers and
employees implement it. What implementation approach is being used at WainPort?
a. implementation by command
b. implementation through threats
c. implementation as consensus
__________ involves the analysis of economic, political, legal, technological, and
cultural events and trends that may affect the future of the organization and its
marketing efforts.
a. Competitive intelligence
b. Environmental scanning
c. Tactical planning
d. Marketing research
e. External analysis
Which stage of the product life cycle has (1) establishing a strong, defensible market
position, and (2) achieving financial objectives that repay investment as its main
priorities?
a. Introduction
b. Growth
c. Maturity
Identify and explain each element of the 5W model for customer analysis. What role
does this analysis play in an overall situation analysis?
Discuss the role of value in developing long-term customer relationships. In your
discussion, explain the value formula and its component parts. How can the value
formula help marketers design strategies to optimize customer value?
Explain the importance of corporate branding. How is it tied to product-related
branding? Give examples of how a firm's corporate brand is tied to its reputation and its
success in the marketplace.
'Analysis alone is not a solution' is an important piece of advice to keep in mind during
a situation analysis. What does this phrase mean? If analysis alone is not a solution,
what other considerations are relevant during a situation analysis?
The text argues that a brand is only truly effective when it succinctly captures the total
offering in a way that answers a question in the customer's mind. Explain what this
means with respect to branding strategy. Also, how is answering a question for
customers related to the potential brand attributes outlined in the text?
Identify and discuss the challenges involved in collecting environmental data and
information. How can a marketing manager or analyst overcome these problems?
Identify and discuss reasons why firms become so infatuated with pricing.
Why have ethics and social responsibility become so important in recent years? Why is
it important that marketing ethics be incorporated into the firm's strategic plan?
