Many products are repositioned for a new use or benefit.
Over-engineered products will contain features that customers do not need or want.
The largest amount of market development funds is spent on slotting allowances.
Lifetime customer value calculations are based on assumptions that can be validated
easily and accurately.
Straight salary is generally used when the products and services have short selling
cycles.
Logistic refers to physical distribution of goods from one location to another.
A good company objective should be stated in measurable terms.
The conventional functional relationship assumed in experience curve economics is that
unit costs are an increasing function of accumulated experience, or production volume.
The key difference between hybrid and more conventional multiple-channel systems is
that hybrids are more vertical.
Which of the following tech customers seek entertainment but cannot find it on-line,
and therefore prefer TV and other older media?
A) Digital Hopefuls
B) Techno-Strivers
C) Hand-Shakers
D) Media Junkies
When the customers become active participants in the innovation process, it is known
as:
A) democratizing.
B) multilearning.
C) customerization.
D) co-creation.
When a company uses “house of brands” strategy, the brands introduced by the
company are known as:
A) co-brands.
B) corporate parent brands.
C) ingredient brands.
D) distinct product brands.
Identify the pricing strategy that is useful for preventing competitive entry.
A) pricing to value
B) investment pricing
C) penetration pricing
D) prestige pricing
Many companies view their CIFs as a key source of:
A) marketing strategy.
B) competitor analysis.
C) competitive advantage.
D) supplier analysis.
Market segmentation becomes a key issue in this stage of the product life cycle.
Identify the stage.
A) introduction stage
B) growth stage
C) maturity stage
D) decline stage
________ are the set of descriptor variables based on the newness of the purchasing
situation.
A) Demographics
B) Operating variables
C) Situational factors
D) Buy classes
Which of the following is a disadvantage of sales driven approach?
A) It is not suitable for services such as banking.
B) It might not deliver long term value to customers.
C) The company cannot make profits.
D) It uses inexperienced sales personnel.
In China, foreign firms are often ________ to set up their own distribution networks.
A) encouraged
B) required
C) forbidden
D) licensed
Identify the question that is least significant in determining whether your organization is
customer-oriented.
A) Are you easy to do business with?
B) Do you keep your promises?
C) Do you use frequent advertisement?
D) Do you meet the standards you set?
Which of the following is a time series method of sales forecasting?
A) ntive extrapolation
B) executive opinion
C) Delphi method
D) exponential smoothing
________ quality is based on how the service is delivered or the quality of the actual
interaction with the company.
A) Functional
B) Experienced
C) Technical
D) Image
________ is the percentage change in one products sales due to a percentage change in
a marketing variable (such as price) for another product.
A) Reverse-elasticity
B) Demand-elasticity
C) Cross-elasticity
D) Supply-elasticity
Which of the following involves face-to-face communications between seller and buyer
?
A) advertising
B) catalogue marketing
C) personal selling
D) telemarketing
Which of the following is a demographic variable?
A) generation
B) personality
C) fensity
D) nationality
A major benefit of the lifetime customer value (LCV) and profitability analyses is to
permit the marketing manager to make informed decisions about:
A) which customers to target.
B) where to find new customers.
C) which customers to keep.
D) which competitors to avoid.
What a product or service is worth to a customer is the:
A) brand value.
B) customer value.
C) profit potential.
D) market potential.
Discuss the three general approaches to developing competitive advantage:
List and briefly discuss individuals involved in an organizational purchase decision.
Explain the concept of lifetime customer value.
Which strategic approach is consistent with the customer-focused marketing concept?
Explain the concept.
Discuss briefly why customers value brands.
Briefly describe the six steps in the marketing research process.
Explain the approaches that can be used to forecast demand.
What is the major difference between the traditional version of value chain and the new
perspective of value chain?