Mission statements should be ________.
A) meaningful and specific yet motivating
B) technology oriented
C) written solely for public relations purposes
D) focused on increasing sales or profits
E) strictly product oriented
Which of the following is a disadvantage of adding new channels in a multichannel
distribution system?
A) decreasing complexity of markets
B) decreasing control over the system
C) reducing opportunities for franchising
D) lowering sales and market coverage
E) minimizing publicity needs
Low-interest financing and longer warranties are both examples of ________ pricing.
A) segmented
B) promotional
C) product bundling
D) captive product
E) product form
At Neiman Marcus, a first-class department store, customers shop for high-end products
and they are assisted in every phase of the shopping process. Neiman Marcus is a
________.
A) full-service retailer
B) limited-service retailer
C) self-service retailer
D) specialty store
E) superstore
Arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers is known as ________.
A) positioning
B) segmenting
C) diversifying
D) prospecting
E) satisficing
Which of the following characterizes emerging economies?
A) Industrialization typically creates a new rich class and a growing middle class, both
demanding new types of imported goods.
B) They trade goods among themselves and also export them to other types of
economies for raw materials and semifinished goods.
C) Most African countries fall into this category.
D) They consume most of their output and barter the rest for simple goods and services.
E) These countries are the best markets for large equipment, tools and supplies, and
trucks.
Critics charge that intermediaries ________.
A) are too few in number
B) are inefficient
C) provide only necessary services
D) underprice their services
E) are too competitive
The major influences on the buying process at General Aeronautics Limited include
supply conditions and technological changes, which would both be categorized as
________ factors.
A) organizational
B) individual
C) systemic
D) interpersonal
E) environmental
Which of the following price adjustment strategies involves reducing prices to reward
customer responses such as volume purchases, paying early, or participating in
sales-support programs?
A) product bundle pricing
B) captive product pricing
C) product line pricing
D) dynamic pricing
E) discount and allowance pricing
Which of the following would most likely improve coordination between marketing and
sales?
A) Salespeople should directly participate in the development of new products.
B) Salespeople should participate in marketing planning sessions by sharing firsthand
customer knowledge.
C) The sales force should strategize promotional strategies and be the primary decision
makers about marketing.
D) Marketing managers should field test new promotion strategies before the sales
team.
E) The marketing and the sales departments should conduct annual job rotations.
After a brief stay at a luxury hotel in Paris, Benjamin Sanders noted that the hotel had
kept every promise it made when he booked the room, meeting all his needs. He added
that it was a “thoroughly comfortable and opulent experience.” According to Young &
Rubicam’s Brand Asset Valuator, this reflects brand ________.
A) valuation
B) esteem
C) relevance
D) differentiation
E) knowledge
To communicate effectively, a marketing communicator should most likely ________.
A) ensure that the encoding and decoding processes are different
B) encode and decode the message personally and frequently
C) understand the consumer’s field of experience
D) foresee unplanned static or distortion
E) use familiar words and symbols
Press conferences, speeches, store openings, special events, newsletters, and store
magazines are examples of ________ activities used by retailers to promote themselves.
A) public relations
B) sales promotions
C) personal selling
D) affinity marketing
E) social marketing
The most common form of marketing organization is the ________ organization. Under
this organization, an operational specialist heads different marketing activities.
A) geographic
B) product management
C) functional
D) customer management
E) market
Marketers often segment international markets according to the type and stability of
government. In such instances, they segment markets based on ________.
A) geographic location
B) economic factors
C) cultural factors
D) political factors
E) socio-cultural factors
In which of the following would the buyer reorder a product without any modifications?
A) reverse auction
B) solution selling
C) new task
D) straight rebuy
E) modified rebuy
Refer to the scenario below to answer the following question.
Essential-Beauty is a rapidly growing firm that manufactures women’s makeup,
perfumes, and nail-care products. The company has established itself as a high-end
cosmetic product brand available at most national drug stores. In the past, almost all of
the advertising for Essential-Beauty has been in women’s fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial
cleansers to body lotion. These products are designed to be marketed to a broader
audience, so the marketing team is exploring the effectiveness of different promotional
mixes.
Essential-Beauty e-mailed a survey to a group of its most frequent, loyal customers.
The survey asked what makeup and skin care characteristics were most important to
them. The company’s marketing staff then ranked the performance of Essential-Beauty
products in each of these categories. Essentials was conducting a(n) ________.
A) customer lifetime value survey
B) entrepreneurial marketing strategy
C) intrepreneurial marketing strategy
D) customer value proposition
E) customer value analysis
Which of the following statements is true of social classes?
A) Social classes are society’s temporary divisions.
B) Members of a social class have unique and distinct values, interests, and behaviors.
C) People within a social class tend to exhibit similar buying behavior.
D) Income is the single factor that determines social class.
E) Social classes universally exhibit identical product and brand preferences.
Why do international markets need to be segmented?
Explain the concept of the price ceiling.
Discuss formal and informal marketing strategies and give examples of companies that
follow these strategies.
Distinguish between the service profit chain and internal marketing.
What is the follow-up step of the selling process? Why is it important?
Why must marketers guard against stereotypes when using age and life-cycle
segmentation?
What does the concept of integrated logistics management advocate?