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Information in a company's database can come from many sources. An advantage of
harnessing such information is to ________.
A) eliminate employee turnover
B) achieve a high degree of employee empowerment
C) gain competitive advantage
D) gain access to mass markets
E) eliminate resource dependency
The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently
studying the size, density, location, age, and occupation of its target market. Which of
the following environments is being studied in this scenario?
A) demographic environment
B) political environment
C) economic environment
D) technological environment
E) cultural environment
Price & Malone Corp., a company based in Houston, caters to a market of individuals
and households that buy goods and services for personal consumption. Price & Malone
caters to a ________ market.
A) business
B) reseller
C) government
D) consumer
E) wholesale
Jolene's firm markets preplanning services for a mortician. She finds that most of her
target market avoids discussing future funeral needs. She convinces people to invest in
the firm's services through her large-scale promotional efforts. Jolene's firm most likely
practices the ________.
A) production concept
B) marketing concept
C) selling concept
D) product concept
E) societal marketing concept
Department stores such as Kohl's and Macy's practice high-low pricing by ________.
A) charging a constant, everyday low price
B) providing few or no temporary price discounts
C) increasing prices temporarily on select products
D) having frequent sale days for store credit-card holders
E) underpricing most consumer items
When a company customizes its merchandise store by store to meet shopper needs, it is
practicing ________ marketing.
A) niche
B) mass
C) local
D) segmented
E) trigger-based
Which of the following is true with regard to personal selling?
A) Personal selling entails personal presentations by a firm's sales force for the purpose
of making sales and building customer relationships.
B) Personal selling involves making personal requests to potential buyers to enter into
short-term business relationships with firms.
C) Personal selling distances the buyer from the seller and does not focus on building
enduring relationships.
D) An outside sales force is not involved in personal selling.
E) Personal selling is a relatively new profession.
Product mix ________ refers to the total number of items a company carries within its
product lines.
A) length
B) depth
C) height
D) width
E) consistency
Which of the following promotion categories is most likely to use the promotion tools
of press releases, sponsorships, events, and Web pages?
A) sales promotion
B) direct marketing
C) advertising
D) public relations
E) horizontal diversification
To ________, a marketer would most likely ask target audience members whether they
remember the message, how many times they saw it, and what points they remember.
A) select a message source
B) collect feedback
C) select a message channel
D) plan a media purchase
E) design a marketing appeal
Using ________ segmentation, marketers form segments of consumers who have
similar needs and buying behaviors even though they are located in different countries.
A) psychographic
B) demographic
C) occasion
D) benefit
E) intermarket
Which of the following terms refers to sellers being preoccupied with their own
products and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption
________ is the practice of tailoring products and marketing programs to suit the tastes
of specific individuals and locations.
A) Mass marketing
B) Trigger-based marketing
C) Differentiated marketing
D) Concentrated marketing
E) Micromarketing
Most shopping centers are ________.
A) strip malls
B) regional shopping malls
C) community shopping centers
D) lifestyle centers
E) power centers
Porsche is a German automobile manufacturer that competes against BMW and Audi,
but only in the sports car and SUV segments of the automobile market. Porsche utilizes
a(n) ________ strategy.
A) overall cost leadership
B) focus
C) middle-of-the-roaders
D) market segmentation
E) blue ocean
Which of the following would be considered a service retailer?
A) factory outlets
B) supermarkets
C) jewelry stores
D) restaurants
E) gas stations
The United States Environmental Protection Agency (EPA) has mandated that, in order
to reduce local pollution, all printing plants have to switch from oil-based inks to
water-based inks. This will require entirely new printing presses and the procurement of
a completely different printing plate technology. In this instance, the buying center of
an organization using printing plants is most likely to face ________.
A) a need for market segmentation
B) a new task situation
C) a straight rebuy situation
D) a need for market diversification
E) delayed differentiation
Brad works with a reputed retailer and leads a team that collects market information
from a wide variety of sources ranging from marketing research studies to monitoring
online conversations where consumers discuss Brad's firm or its products. Brad's team
uses this information to arrive at a better understanding of consumer behavior and their
buying motives. This, in turn, allows Brad's firm to successfully generate more value
for consumers. Brad leads the ________ team.
A) product development
B) strategy implementation
C) human resource
D) customer relationship management
E) customer insights
Differentiate between market-skimming and market-penetration pricing strategies.
Explain the conditions within which they are effective.
Why would a producer use wholesalers rather than sell directly to retailers or
consumers?
How do firms practicing channel differentiation gain competitive advantage?
What are the major characteristics of institutional markets?
What is the role of a salesperson in a territorial sales force structure?
What are the four major communication functions?
Briefly explain local and individual marketing.
