Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Recent research shows that __________ of U.S. online consumers are cross-channel
shoppers.
A. 20%
B. 37%
C. 45%
D. 51%
E. 95%
Answer:
New-product strategy development refers to
A. the stage of the new-product process where specific product features and benefits are
selected prior creating a new-product prototype.
B. a formalized protocol for new product development determined by director of
marketing.
C. the stage of the new-product process that defines the role for a new product in terms
of the firm's overall objectives.
D. the process of presenting cross-functional teams with a written new-product concept
statement and asking them to respond to it in writing.
E. the stage of the new-product process that turns the idea on paper into a prototype,
which results in a demonstrable, producible product corresponding to its protocol.
Answer:
__________ convert an organization's mission and business into long- and short-term
performance targets.
A. Plans
B. Tactics
C. Strategies
D. Goals
E. Visions
Answer:
The process of segmenting a market and selecting specific segments as targets is the
link between __________ and the organization's marketing program.
A. self-regulatory industry standards
B. government regulations
C. top-level management
D. buyers' or market needs
E. controllable environmental factors
Answer:
Generating insights leading to marketing actions based on massive numbers of peoples'
ideas is called __________.
A. brainstorming
B. groupthink
C. outsourcing
D. crowdsourcing
E. NIH method
Answer:
Tendollars.com offers thousands of gifts, all priced at $10. This is an example of a(n)
__________.
A. skimming pricing approach
B. loss-leader pricing approach
C. one-price policy
D. penetration pricing approach
E. everyday low pricing approach
Answer:
In the VALS framework, achievement-motivated consumers who have a lower levels of
education and household income than Achievers are called __________.
A. Believers
B. Experiencers
C. Strivers
D. Makers
E. Survivors
Answer:
The U.S. Census Bureau publishes the __________, which is conducted every five
years and contains detailed information on the number and sales of U.S. establishments
that produce goods or resources.
A. North American Industry Classification System
B. Economic Census
C. Annual Survey of Manufacturers
D. Annual Wholesale Trade Survey
E. Survey of Business Owners
Answer:
The view that an organization has an obligation to those who can affect the achievement
of its objectives is referred to as __________.
A. social responsibility
B. value consciousness
C. benefit marketing
D. stakeholder responsibility
E. profit responsibility
Answer:
Kellogg's has several cereals targeted at different types of users. This is an example of
multiple products aimed at multiple markets. Manufacturing these different cereals is
clearly more expensive than producing only one but seems worthwhile if it adds to the
manufacturer's sales revenues and profits, doesn't reduce quality or increase price, and
A. conforms to all FDA guidelines.
B. uses the same promotion and packaging for all segments.
C. decreases the cost of the physical plant.
D. stabilizes competition.
E. better serves customers' needs.
Answer:
Figure 11-6
In Figure 11-6 above, which is a break-even chart that depicts a graphic presentation of
a break-even analysis for a picture frame store, the triangular area GAF represents the
firm's
A. fixed costs.
B. break-even point.
C. variable costs.
D. profit.
E. total revenue.
Answer:
According to the textbook, four new technologies are expected to have impact on
marketing. These are:
A. biotechnology, smart grid services, natural user interfaces, and social networks.
B. neuron technology, lithium batteries, cloud computing, and wireless power.
C. crowdsourcing, genomics, QR codes, and smart bio watches.
D. the Internet of Things, five-sense computing, smart grid services, and 3D
technologies.
E. nanotechnology, autobots, cloud computing, and electric cars.
Answer:
Reverse auctions
A. are seller-initiated.
B. benefit the sellers significantly more than the buyers.
C. have an increasing number of buyers as the auction progresses.
D. put downward pressure on prices.
E. have many buyers.
Answer:
Figure 4-2
Figure 4-2 above shows the recent ratings from independent rating agencies for selected
smartphone brands and models. A number of factors are listed, such as price, display,
audio quality, and text messaging. These factors are the typical __________ for
smartphones.
A. consideration sets
B. evaluative criteria
C. value propositions
D. quality considerations
E. core benefits
Answer:
The two types of channel conflict are
A. wholesaler and retailer.
B. horizontal and vertical.
C. transactional and promotional.
D. external and internal.
E. producer and consumer.
Answer:
Xerox pioneered the first portable fax machine. In 1980, the price was $12,700. Xerox
used a(n) __________ pricing strategy to help recover its research and development
costs.
A. penetration
B. cost-plus
C. skimming
D. target ROI
E. above-market
Answer:
There are several reasons why a consumer would be reluctant to adopt a new product,
including a risk barrier, which occurs when __________.
A. there is no incentive to change
B. there are physical, economic, or social fears
C. there are cultural differences
D. the financial commitment is too great
E. the product is not consistent with existing habits
Answer:
A disadvantage of a __________ is that the marketing research firm needs to recruit
new members continually to replace those who drop out.
A. representative group
B. mall intercept interviews
C. focus group
D. survey of experts
E. panel
Answer:
Manufacturer's agents refer to agents who
A. represent a single producer and carry all products in the producer's lines.
B. work for several producers and carry noncompetitive, complementary merchandise
in an exclusive territory.
C. take title to merchandise but sell only to buyers who call on them, pay cash for
merchandise, and furnish their own transportation for merchandise.
D. own the merchandise they sell but do not physically handle, stock, or deliver it.
E. furnish the racks or shelves that display merchandise in retail stores, perform all
channel functions, and sell on consignment to retailers.
Answer:
A direct forecast involves estimating the value to be forecast and
A. making decisions without any intervening steps.
B. halving the highest values and doubling the lowest values to determine an acceptable
forecast range.
C. selecting the alternative that holds the greatest consensus within the management
team.
D. then conducting a sensitivity analysis to determine price elasticity.
E. selecting the forecasting alternative that would allow a firm to survive financially
even if the forecasts are incorrect.
Answer:
Vivienne, a college student with limited financial resources, was considering the
purchase of a new automobile. She went from car dealer to car dealer in several
different cities searching for the lowest price on a new economy car. She devoted a
great deal of time and energy to getting the best value for her money. For Vivienne, an
automobile was a(n) __________.
A. specialty product
B. unsought product
C. discretionary product
D. shopping product
E. convenience product
Answer:
Figure 2-5
Quadrant D in Figure 2-5 above represents the marketing strategy of __________.
A. market penetration
B. product penetration
C. market development
D. product development
E. diversification
Answer:
Reminder advertisements are especially effective for products in which stage of their
product life cycle?
A. introduction
B. harvesting
C. maturity
D. growth
E. decline
Answer:
__________ includes considering employee interactions with customers to ensure they
are consistently delivered and experienced, clearly differentiated from other offerings,
and relevant and valuable to the target market.
A. Capacity management
B. Customer experience management
C. Derived demand
D. Internal marketing
E. The key service factor
Answer:
Price Premium Marketing Dashboard
The Price Premium Marketing Dashboard above shows the dollar and unit market
shares for selected energy drinks. What is the price premium for Red Bull in 2009?
A. 12.1%
B. 0%
C. -5.0%
D. -5.6%
E. -11.1%
Answer:
Agribusinesses that sell commodity products like wheat, rice, and grain are often in a(n)
__________ position with their competitors.
A. limited competition
B. pure competition
C. oligopolistic competition
D. monopolistic competition
E. monopolistic
Answer:
Figure 17-2
As shown in Figure 17-2 above, Box A is the __________ stage in the personal selling
process.
A. approach
B. preapproach
C. presentation
D. prospecting
E. follow-up
Answer:
As more competitors launch their own products and the product progresses along its life
cycle, company attention is focused on creating __________ demand, or the preference
for a specific brand.
A. primary
B. selective
C. derived
D. generic
E. secondary
Answer:
Variations of a product (shape, configuration) within a product class are referred to as
the
A. product form.
B. product item.
C. product line.
D. product class.
E. product mix.
Answer:
Personality refers to
A. the attitudes that determine how people spend their time and resources and what they
consider important.
B. the way people see themselves and others.
C. the process by which an individual selects, organizes, and interprets information to
create a meaningful ideal self.
D. a person's consistent behaviors or responses to recurring situations.
E. those qualities that either attract or repel other members of a person's personal,
social, or professional environment.
Answer:
The ability of customers to avail themselves of numerous websites for almost anything
they want and the ability to engage in electronic dialogue with marketers for the
purpose of making informed decisions are dimensions of __________, one of the
reasons consumer shop and buy online.
A. choice
B. communication
C. customization
D. control
E. compatibility
Answer:
All of the following are publicity tools EXCEPT:
A. high-visibility individuals.
B. PSAs.
C. news releases.
D. contests.
E. news conferences.
Answer:
During the presentation stage, a salesperson may encounter objections. What are the six
basic techniques for handling objections?
Answer:
How does technology affect customer value?
Answer:
Some people may assume that for a marketer, the only thing of value for which he or
she would "exchange" would be monetary (check, credit/debit, currency, and/or coin
transactions). But what else can be exchanged? Provide an example of a nonmonetary
transaction that still fits the criteria of exchange.
Answer:
List the key elements of the promotional mix. Why are they used?
Answer:
What is the North American Industry Classification System (NAICS)?
Answer:
Popsicle Package Photos
There is one visible difference between the two packages in the Popsicle package
photos shown above (one a 15-pack and the other a 20-pack), even though both sold for
the same price. Discuss which aspect(s) might be considered legal but unethical, and
why.
Answer:
Why do manufacturers offer seasonal discounts to channel members? Provide an
example of how one would work.
Answer:
What are the eight marketing reasons for new-product failures?
Answer:
What is the difference between multiproduct branding and multibranding strategies?
What advantages are offered by each of these two approaches?
Answer:
Describe the decline stage of the product life cycle. Explain the two strategies a
company might employ if its product were in the decline stage of its product life cycle.
Answer:
What are the three major steps involved in setting prices?
Answer:
There are five key steps in segmenting and targeting markets, which link market needs
of customers to the organization's marketing program. List these five key steps.
Answer:
What are the conditions favoring the use of penetration pricing?
Answer:
What are the five steps in the marketing research approach?
Answer:
Services incorporate the four I's of product marketing. How would each of these four
elements apply to a stock brokerage service?
Answer:
What is product differentiation? How does it relate to market segmentation? How does
it potentially improve a firm's revenues?
Answer:
