The value chain portrays a mixture of primary and support activities utilized by an
organization to design, produce, market, deliver, and support its products.
Strategic marketing refers to deciding which media, distribution, or pricing tactics to
use.
Services possess several distinct characteristics different from physical goods, including
intangibility, inseparability, variability, and perishability.
Dell customers were eager to grab its new products such as TVs.
Within a particular product category, the variety and assortment of products carried by
retailers tends to be very similar.
When formulating a response to a competitor’s price reduction, remember to consider
your offering from the perspective of its overall value proposition to customers.
Ads with messages like “Orange juice-It’s not just for breakfast anymore!” or “Soup can
be a delicious way to start a cold winter’s day” are using _______ segmentation.
A. Benefits sought
B. Lifestyle
C. Psychographic
D. Usage
E. Geographic
Bliss Massage Therapy Center maintains a database of over 700 clients and sends each
one a special discount offer in the month of his or her birthday. Managers hope that as
existing customers use the discount, they will see an overall growth in sales. Most
likely, this would be classified as ________ in Ansoff’s Product-Market Matrix.
A. Market diversification
B. Marketing strategy development
C. Market penetration
D. Product development
E. Market development
The logic of competitor-based pricing is quite rational unless _______.
A. It is the only approach considered when making the ultimate pricing decisions
B. It leads to exaggerated extremes in pricing such that on the high end a firm’s
products do not project customer value or on the low end price wars ensue
C. It gains a thorough understanding of competitors’ marketing practices
D. Both it is the only approach considered when making the ultimate pricing decisions
and it leads to exaggerated extremes in pricing such that on the high end a firm’s
products do not project customer value or on the low end price wars ensue
E. All of these
In the service-profit chain, customer satisfaction leads to customer loyalty and then
revenue growth and profitability. This in turn leads to ____________.
A. Greater employee satisfaction and investment in employees
B. Changes in the organizational structure
C. Competitive intelligence for future growth
D. Competitive retaliation based on service strategy
E. None of these
Judy works at XYZ Pizza shop. She is a single mom and makes minimum wage. She
recently purchased a BMW; this is an example of a(n) _____.
A. Irresponsible purchase
B. Irrational choice
C. Aspirational purchase
D. Addictive behavior
E. Compulsive shopping behavior
In Spain, most people do not eat dinner until 10:00 at night. This would be identified in
the _______ section of a global research report.
A. Economic
B. Cultural, societal
C. Business environment
D. Political, legal
E. History, geography
Purpose marketing, or pro-social marketing, as practiced by Panera Bread _______.
A. Is an insignificant part of its image
B. Is a for-profit part of the business
C. Focuses on public relations
D. Engages with the consumer in a meaningful way as it works to feed the hungry
E. Has no impact on consumers who care about social issues
Companies translate the essential benefit into physical, tangible elements known as the
_________.
A. Augmented product
B. Core product
C. Deviated product
D. Differentiated product
E. Contrasting product
Market share can be defined in terms of either _____________.
A. Utilities or profits
B. Revenue or profits
C. Units or profits
D. Units or revenue
E. None of these
The behavioral step(s) of AIDA is(are) ___.
A. Attention
B. Desire
C. Action
D. Both attention and desire
E. Both desire and action
Over the years Athena Footwear had developed a reputation as a high-quality brand of
shoes at a moderate price point. Recently it decided to introduce a low-price line of
shoes; however, the new line suffered from poor performance and durability, and if the
shoes in the new line got wet, the colors would bleed. Because of these problems, the
sales of new line shoes were poor and the value of Athena Footwear’s brand dropped
significantly. This is an example of the ______ limitation of branding.
A. Lack of meaningful differences among products
B. Failure to persuade the customer
C. Failure to overcome poorly designed products
D. Failure to protect the brand
E. Lack of brand-worthy communications