A company is most likely to see increased customer loyalty by practicing which step of
the CRM process?
A. customer identification
B. customer authorization
C. customer differentiation
D. customer retention
E. customization
Which of the following is a benefit a company can gain through using a CRM system?
A. creating marketing messages that appeal to all of its customers
B. reducing employee hours spent managing information flow
C. reducing company technology expenditures
D. identifying dissatisfied customers before losing them to the competition
E. eliminating the need for costly loyalty programs
A company would be likely to use information from the American Customer
Satisfaction Index (ACSI) to answer all of the following questions EXCEPT which
one?
A. Which customers have the highest customer lifetime value?
B. How do customers perceive the quality of our product?
C. How do customers perceive the quality of our competitors’ products?
D. What do our customers expect from our product?
E. How do customers perceive the value of our product?
Data that is trended is collected ________.
A. at specific time intervals
B. at random time intervals
C. from specific demographic groups
D. from randomly selected consumers
E. by consumer relationship management systems
Consider a situation in which there is 10% unaided awareness for a brand of athletic
shoes, with purchases of 75%. Which of the following best describes the purchase
funnel for this scenario?
A. very wide at the top and narrow at the bottom
B. very narrow at the top and wide at the bottom
C. very narrow and vertical
D. very wide and vertical
E. very wide and horizontal
Nielsen Media’s television and radio ratings report which of the following?
A. a particular media vehicle’s impact
B. the level of engagement an audience has with specific television and radio programs
C. the media efficiency of different television and radio programs
D. the percentage of a total available audience watching or listening to specific
programs
E. CPM for a variety of programs
Which of the following is a trade sales promotion technique that involves compensation
for retailers that include a product in their local advertising?
A. trade allowance
B. co-operative advertising allowance
C. loyalty program
D. trade premium
E. trade coupon
A(n) ________ is a schedule of duties or fees applied to goods or services from foreign
countries.
A. tariff
B. exchange control
C. quota
D. barter
E. franchise
Which of the following marketing communication tools includes the functions of
building up a positive corporate image and handling unfavorable stories and events?
A. sales promotion
B. sponsorship
C. direct marketing
D. public relations
E. advertising
The critical element of effective search engine optimization is the selection of
________.
A. consumer segments
B. positioning
C. key words
D. target markets
E. segmentation bases
L.L. Bean refers to the customer as “the most important person ever in this office.” This
attitude toward the customer is most closely associated with which of the following?
A) the marketing concept
B) the production orientation
C) the sales orientation
D) the social responsibility concept
E) the value-added orientation
In a ________ channel organization, two or more companies at one level join together
to form an alliance.
A. franchise
B. horizontal
C. VMS
D. multichannel
E. conventional
NGOs are groups of ________ who monitor the behavior of marketers or governments
and use their influence to achieve social goals.
A. elected officials
B. appointed officials
C. public officials
D. private individuals
E. public employees
The target market and investment requirements are typically identified in the ________
section of a marketing plan.
A. measurement and controls
B. financial overview
C. forecasting
D. marketing situation
E. marketing strategy
Costco’s surprise offerings of seconds, overstocks, and closeouts occasionally including
diamonds are an example of ________ under the 4 Cs model of the marketing-mix.
A. customer value
B. cost
C. credit
D. channel
E. communication
The first step in the media selection process is to ________.
A. develop a customer media profile
B. establish a media budget and objectives
C. create a media plan
D. buy media
E. place media
Mail-order wholesalers are associated with all of the following EXCEPT which one?
A. selling products to small retailers and other industrial customers
B. selling products to retailers in remote locations
C. automatically replenishing merchandise for retailers
D. selling office supplies and computer hardware
E. selling through catalogs
Which of the following is the distinguishing characteristic of a born global company?
A. the speed at which the company becomes active in global markets
B. the company’s preference for entering countries with different languages and
commercial practices
C. the company’s preference for using direct investment as a market entry strategy
D. the size of the company
E. the company’s ability to overcome trade barriers
Introducing a new product into the market is called ________.
A. test marketing
B. new product development
C. experimenting
D. commercialization
E. marketing development
The primary methods of brand valuation are ________ and ________.
A. additive; inclusive
B. intellectual; emotional
C. stretching; contracting
D. elastic; inelastic
E. bundling; separating
Refer to the scenario below to answer the following questions.
Miller Meat Company contracts with several Midwestern farmers to raise beef and pork
for its meat processing center. To guarantee freshness, Miller Meat Company relies on a
vast distribution network. For delivery to local grocers in Indiana, Miller Meat uses its
own fleet of refrigerated trucks; delivery to these Indiana grocers constitutes 65 percent
of Miller Meat’s business. For deliveries in Illinois, Wisconsin, and points directly west
of the Mississippi River, Miller Meat Company contracts with a refrigerated fleet that
specializes in expediting smaller shipments. For faster delivery during peak times,
Miller Meat Company often uses its own trucks to deliver to the expedited fleet’s
consolidation point from its distribution warehouse in Indiana. During the holiday
season, however, several specialty distributors contract with Miller Meat Company to
package specialty meats in gift boxes, then ship them directly to the recipients. For
these specialty shipments within Indiana, Illinois, and Wisconsin, Miller uses its normal
delivery mode. For all other specialty shipments, Miller ships from its distribution
warehouse via air, then contracts with expedited carriers in various cities to deliver to
the recipients.
In using air transportation and then expedited truck carriers to deliver specialty items to
customers outside of a designated delivery range, Miller Meats is using ________.
A. all of its supply chain
B. a direct channel
C. indirect marketing
D. intermodal distribution
E. a vertical marketing system
In recent years, ________ has been growing fast. This includes selling to final
consumers through vending machines, self-serve kiosks, the Internet, and smart phone
applications.
A. self-service retailing
B. private labeling
C. off-price retailing
D. nonstore retailing
E. e-commerce
The majority of network television advertising is sold through ________.
A. an upfront market
B. scatter buys
C. rate cards
D. ad trafficking
E. media auditing
Members of which type of market buy goods and services that are used in, or in support
of, the production of other products or services?
A. business
B. international
C. wholesale
D. consumer
E. retail
Refer to the scenario below to answer the following questions.
The Attic Trunk began in 1979 as an upscale dress shop in Forest Ridge’s fashionable
shopping district, catering to a wealthy, mature clientele. Many other specialty shops
lined the main avenue over the next few years. But as Forest Ridge began to attract an
affluent, younger, and more demographically diverse population, the once-popular
shopping district was increasingly perceived as stodgy and snobby. By the late 1980s,
many of these specialty shops suffered financially. Most shops attracted only tourists
who enjoyed browsing through the displays of alligator belts and shoes, piles of scented
soaps, and useless flowered parasols, often laughing at the ridiculously high prices.
Owners of The Attic Trunk had noticed the shifts in population and buying behavior of
the typical shopper by the late 1980s. In fact, the owners had observed that the
once-fashionable shopping district in Forest Ridge no longer attracted a “typical
shopper.” The wealthy, mature clientele had been partially replaced with affluent
families with children, a mix of Asian and African Americans as well as Caucasians.
Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name
apparel, colognes, and jewelry. Other owners followed suit in the early 1990s, bringing
restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge.
Which of the following is the strongest reason that the owners of The Attic Trunk might
NOT want to completely discount the mature consumers as a still-viable target market?
A. Mature consumers wield considerable influence over purchases made by their
children and grandchildren.
B. Mature consumers are the fastest-growing and wealthiest demographic segment in
the United States.
C. Mature consumers are spending an increasing percentage of their income on
specialty items such as those originally sold by The Attic Trunk.
D. Mature consumers are interested in shopping where younger families shop in an
effort to look as young as they feel.
E. Mature consumers are less willing to shop around and change brands than younger
consumers are, so they will likely remain loyal to The Attic Trunk.
Many marketers use the premise that people’s possessions contribute to and reflect their
identities; that is, “we are what we have.” Under this premise, consumers ________.
A. buy products to demonstrate their self-identities
B. value cognitive age more than life stage
C. are affected by subconscious motivations
D. are attracted to products that fit in with their existing attitudes
E. conduct the information search
When marketers at Procter & Gamble selected the Millennials, a demographic that
includes college students, as an untapped group of potential customers for the
company’s Febreze line of products, they were executing which of the following?
A. market segmenting
B. mass marketing
C. differentiation
D. targeting
E. positioning
Which of the following is generally considered an advantage of personal selling over
other marketing options?
A. cost-effectiveness for marketing inexpensive products
B. the development of personal relationships with customers
C. low rates of turnover
D. low compensation costs for employees
E. the ability to reach large numbers of customers
Which method would a marketing researcher most likely use to obtain information that
people are unwilling or unable to provide?
A. ethnographic
B. survey
C. questionnaire
D. focus groups
E. personal interviews
A(n) ________ identifies business revenues, expenses, and profits.
A. business statement
B. income statement
C. capitalization statement
D. cash-flow statement
E. market sheet
Essentials is a rapidly growing brand of women’s make-up, perfumes, and nail care
products. The company has established itself as a high-end cosmetic product available
at most national drug stores. In the past, almost all of the advertising for Essentials has
been in women’s fashion magazines.
Essentials 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.
Sarah Burnes, the brand manager for Essentials, has decided to implement a marketing
accountability process as her team develops and places marketing communications that
meet the company’s objectives. Sarah is concerned with achieving significant return on
marketing investment and using the marketing resources efficiently.
The new Essentials line of skin care products is targeted at a broader market than other
Essentials products are. Based on this, the marketing team for Essentials is likely most
interested in which of the following key performance indicators?
A. hurdle rate
B. loyalty program participation
C. frequency
D. cost to reposition a product
E. cost to acquire a new customer
Tommy Gray attempts to deliver customer satisfaction every day in his Audio
Expressions installation business. He is a smart operator who knows that the key to this
goal is to match ________ with ________.
A. company performance; competition
B. company performance; competitive prices
C. relationship building; performance tools
D. company performance; unique products
E. customer expectations; service quality
Shampoo marketers rate buyers as light, medium, or heavy product users. This is
________ segmentation.
A. needs
B. demographic
C. behavioral
D. psychographic
E. values
Describe three ways that consumer privacy is protected from direct marketing
intrusions and abuses.
Discuss several of the challenges marketers are likely to face when implementing
marketing accountability practices.
Identify two elements included in the 12 categories of marketing variables that are
organized into different categories under the 4 Ps classification.
Is global marketing more challenging than single country marketing? In a brief essay,
explain why or why not.
Compare reach and frequency. For which type of products is media reach more
important? For which type of products is media frequency more important?
Identify and briefly explain the four steps a company should take to practice CRM and
develop one-to-one relationships with its customers.
Why might demographic segmentation be the most common type of segmentation?
Explain how marketing is both a reflection of a culture and a powerful influence upon
it, giving at least two examples.
Describe how Americans’ media habits are changing and how this will affect future
media mixes.
Explain the concept of utility in marketing and how consumers are involved in
determining utility.
Explain how the typical process for reaching an acceptable price in the
business-to-business market differs from the process for reaching a price for most
consumer products.
Listing them in the proper order, what are the stages in the buyer decision-making
process? Describe each.
Briefly describe the steps in the new product development process.
Explain how a strong brand and lesser brand might compete in a price war.
Explain the limitations of the BCG matrix.