Creamy Cones manufactures prepackaged ice cream cones. It creates the cones, makes
the cones, distributes the cones, and markets the cones around the country. Creamy
Cones is a ________________.
A.National brand
B.Private-label brand
C.Specialty brand
D.Low-cost brand
E.House brand
National brands are products created, manufactured, and marketed by a company and
sold to retailers around the country. In this case, Creamy Cones is a national brand.
Retailer cooperative is an example of _____________.
A.Diversification
B.Horizontal integration
C.Corporate VMS
D.Contractual VMS
E.Administered VMS
Independent retailers across a variety of product categories have banded together to
gain cost and operating economies of scale in the channel. This is known as retailer
cooperative and it is an example of a contractual VMS.
______ assimilates the shared artifacts such as values, morals, beliefs, art, law, and
customs into an organized system that enables people to function as members of
society.
A.NormsB.EthicsC.Moral codeD.CultureE.Moral values
Culture assimilates shared artifacts such as values, morals, beliefs, art, law, and customs
into an organized system that enables people to function as members of society. Culture
is a primary driver of consumer behavior because it teaches values and product
preferences and, in turn, affects perceptions and attitudes.
In a business market purchase decision process, which stage follows the ‘search for
suppliers’ stage?
A.Problem recognition
B.Seek sales proposals in response to RFP
C.Define the need and product specifications
D.Make the purchase decision
E.Post purchase evaluation
Once the company’s needs have been identified and production specifications have been
outlined, business customers can identify potential suppliers. Then they seek sales
proposals in response to RFP.
Mayleen wants to cut down on unproductive and expensive direct mail to current
customers. Her best bet would be to __________.
A.Hire a firm to do the mailings for her
B.Use less expensive paper to print the mailing
C.Create a data warehouse to track customer touchpoints
D.Use data mining to predict the most profitable customers
E.C and D
A data warehouse affords the opportunity to combine large amounts of information and
data mining techniques help learn more about current and potential customers. This
would help identifying profitable customers while helping reduce cost.
Which of the following is NOT a characteristic of a B2B market?
A.Fewer but larger customers
B.Demand for products is derived from consumer demand
C.Supply chain is direct from suppliers to manufacturers
D.Impersonal relationship with the customers
E.Complex buying process
In B2B markets, it is important to maintain personal relationships with the customers.
Sellers are well aware that industrial buyers of products __________________.
A.Need only the highest quality products
B.Need products certified by an international organization
C.Need a range of products with different qualities and price levels
D.Need only the lowest priced products
E.None of the above
Industrial buyers do not always need the highest-quality product, so most businesses
carry multiple lines with different quality and price levels. Offering customers a choice
increases the likelihood of success and minimizes the opportunity for competitors to
target gaps in a company’s overall product line.
Positioning relies upon the communication of one or more sources of value to
customers in a way that the customer can easily make the connection between
________.
A.The cost of the product and the quality
B.Various marketing mix variables
C.The customer’s needs and wants and what the product has to offer
D.The brand of the product and its quality
E.None of the above
Positioning relies on the communication of one or more sources of value to customers
in a way that the customer can easily make the connection between his or her needs and
wants and what the product has to offer.
FRAGmasters Computer Games is creating a marketing plan. Managers are concerned
with current distribution. An examination of this issue would be in the ____________
section of the marketing plan.
A.Firm structure and systems
B.Technological
C.Firm resources
D.Segmentation strategies
E.Supply chain strategies
Supply chain strategies are used to deliver value offering to customers.
Sites such as Lendingtree.com are considered ________________ which bring buyers
and sellers together and facilitate the exchange of products and services.
A.Market makers
B.Discussion forum
C.Social networking sites
D.Online groups
E.Blogging sites
Sites like Lendingtree.com bring many buyers and sellers together to facilitate the
exchange of products and services. Hence they are known as market makers.
______________ is NOT considered a goal.
A.To deliver the best customer service
B.To practice responsible financial management
C.To increase revenue by 15 to 20% in each of the next five years
D.To hire the best people
E.To minimize waste
Goals are qualitative statements. Answer C is quantitative.
Retailers devote a lot of time and resources to create the right physical surrounding to
improve the customers’ shopping experience. This indicates importance of ________
factors.
A.Situational
B.Cultural
C.Social
D.Economical
E.Internal
People are profoundly affected by their physical surroundings. Retailers know that
people respond differently to changes in color, lighting, location of the product within
the store. This indicates importance of situational factors.
_______________ is NOT an advantage of one-to-one marketing over traditional mass
marketing.
A.Increased promotional costs
B.Improved targeting of specific customers
C.Increased product development cycles
D.More efficient customer interaction
E.Better ability to track a campaign
One-to-one marketing reduces promotional costs due to decreased reliance on
expensive mass media and targeted promotions.
Being able to adjust the sales style from one sales situation to another in real time based
on customer feedback, is called:
A.Information management
B.B2B selling
C.Adaptive selling
D.Interactive selling
E.Missionary selling
Being able to adjust the sales style from one sales situation to another in real time based
on customer feedback is called adaptive selling. It is critical to long-term success since
the “one size fits all” approach does not work with customers expecting personalized
service.
Key parts of the marketing plan that rely on CRM-generated information include all
EXCEPT _________________.
A.Situation analysis
B.Market research
C.Strategy development
D.External economic factors
E.Implementation
CRM captures information related to customers which is used in situation analysis,
market research, strategy development, and implementation.
For many marketers, __________ is the core of their marketing communications
strategy.
A.Television advertising
B.Din
C.The company Web site
D.Direct mail
E.Sales promotions
For many marketers, the Web site is the core of their marketing communications
strategy with print and other media types used primarily to drive customers to the Web.
Which of the following is one of the ways in which a salesperson can counter the
customer’s price objection?
A.Raise the price until it exceeds the product’s perceived benefits
B.Lower the perceived benefits until they are just under the price
C.Lower the price until they are just above the perceived benefits
D.Raise the perceived benefits until they exceed the price
E.Lower the value proposition till it falls below the price
The price objection usually means the customer has not accepted the value proposition.
In essence, if the customer does not perceive that the product benefits exceed the price,
there will be no sale. The salesperson is left with two options. Lower the price until it is
below the product’s perceived benefits, or raise the perceived benefits until they exceed
the price.
When Mom-And-Pop’s Bakery decided to conduct research about its current and
potential customers, they decided to examine the demographic information for the
surrounding zip codes. The best kind of data for this research project would be _______
data.
A.Primary
B.Internet
C.Secondary
D.Survey
E.Experimental
Secondary data allows researchers to search a wide variety of sources and compiling
additional information provide greater insight to the research problem, and often this
data is available on a zip code level basis such as the Economic Census.
Firms that use CRM systems successfully also have the ____________ to make the
initiative successful.
A.Culture
B.Leadership
C.Structure
D.Systems
E.All of the above
CRM should not be considered as merely a software program. For the CRM initiative to
become successful, the firm should be a relationship-based enterprise with customer
centric culture, leadership, structure and systems.
While researching the possible impact of economic conditions on a proposed new
product introduction on the Internet, you find an article in Business Week Online that
reviews how new products have fared during times of rising inflation. This secondary
data was found on a ________ Web site.
A.Market research organization
B.General Knowledge
C.Open use
D.Community generated
E.File sharing
General knowledge sites such as business publications and academic research sites may
be secondary data sources that have data applicable to the research problem.
Keira is looking for a profit maximization pricing strategy. Which pricing strategy
would you recommend to Keira?
What is database marketing and in which stage of the CRM process cycle is it used?
Describe the concept of the value chain. Who created the idea?
What are the seven design elements of a website’s customer interface?
What are the three separate purchase situations used in calculating total demand?