Good service recovery can turn angry customers into loyal ones.
Competitive marketing intelligence is the systematic collection and analysis of publicly
available information about consumers, competitors, and developments in the
marketplace.
A marketing Web site interacts with consumers to move them closer to a direct purchase
or other marketing outcome.
Producers of convenience products and common raw materials typically seek exclusive
distribution, a strategy in which they stock their products in as many outlets as possible.
The purpose of strategic planning is to find ways in which your company can best use
its strengths to take advantage of attractive opportunities in the environment.
In consumer-generated marketing, marketers play a bigger role in shaping consumers’
brand experiences and those of others.
The demand for many business goods tends to change more slowly than the demand for
consumer goods.
Pricing across a product mix is difficult because various products have related demand
and costs, and products face different degrees of competition.
With the recent explosion of information technologies, companies are finding it difficult
to generate marketing information in great quantities.
Line extension refers to extending an existing brand name to new product categories.
A firm can obtain new products through acquisition or new product development
efforts.
Neuromarketing involves measuring brain activity to learn how consumers feel and
respond.
Oreos are less sweet or less bitter in certain countries. This is an example of straight
product extension.
Widespread adoption of the euro has decreased much of the currency risk associated
with doing business in Europe, making member countries with previously weak
currencies more attractive markets.
A competitive analysis involves first identifying and assessing competitors and then
selecting which competitors to attack or avoid.
Happy Pet is a large pet food company that has convinced the retailers and the
wholesalers of the New England area to resell its products. Happy Pet promises to
reimburse the advertising costs to its retailers and wholesalers for advertising its
products. This is an example of a ________.
A) trade promotion
B) point-of-purchase promotion
C) sweepstake
D) price pack
E) advertising specialty
Brand ________ is the differential effect that knowing the brand name has on customer
response to the product and its marketing.
A) differentiation
B) knowledge
C) equity
D) personality
E) relevance
When a company provides superior value by leading its industry in price and
convenience, it has obtained ________.
A) product leadership
B) focus
C) operational excellence
D) customer intimacy
E) differentiation
Which form of geographic pricing is a company using when it charges the same rate to
ship a product anywhere in the United States?
A) uniform-delivered pricing
B) psychological pricing
C) zone pricing
D) FOB-origin pricing
E) basing-point pricing
________ are the major marketing factors in the sale of most manufactured materials
and parts.
A) Branding and advertising
B) Price and service
C) Sales promotion and advertising
D) Branding and packaging
E) Public relations and brand management
________ marketing is more suited for uniform products, such as grapefruit or steel.
A) Niche
B) Undifferentiated
C) One-to-one
D) Trigger-based
E) Local
Melissa Price is a member of the sales force at Urban Fashions, a Houston-based
manufacturer of women’s apparel. Melissa is preparing for a first meeting with a
wholesaler who is a potential customer. She is learning as much as she can about her
prospect and his organization. Melissa is in the ________ step of the personal selling
process.
A) prospecting
B) qualifying
C) preapproach
D) follow-up
E) demonstration
________ refers to activities that communicate the merits of the product and persuade
target customers to buy it.
A) Position
B) Promotion
C) Pricing
D) Segmentation
E) Prospecting
________ are the largest group of wholesalers. They include two broad types:
full-service wholesalers and limited-service wholesalers.
A) Brokers
B) Manufacturer sellers
C) Manufacturers’ agents
D) Merchant wholesalers
E) Selling agents
Retailers such as Costco and Walmart charge a constant, daily low price with few or no
temporary price discounts. This is an example of ________ pricing.
A) competition-based
B) everyday low
C) cost-plus
D) break-even
E) penetration
Florian Fasteners recently introduced a new line of products. In order to promote its
product, it sent samples to the addresses of a few select customers. Which of the
following types of marketing is evident from this example?
A) direct-mail marketing
B) telephone marketing
C) direct-response TV marketing
D) mobile marketing
E) kiosk marketing
A small, open-air mall with upscale stores, convenient locations, and nonretail
activities, such as a playground, skating rink, hotel, dining establishments, and a movie
theater, is an example of a(n) ________.
A) regional shopping center
B) lifestyle center
C) community shopping center
D) franchise
E) power center
Refer to the scenario below to answer the following question.
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a
popular family attraction with 20 rides, a restaurant, and an outdoor performing arts
theater.
“My wife, Gail, and I didn’t know what we were getting into,” commented Ron Hart,
the owner. “We just knew that weekenders coming to the lakes in our rural area
represented an untapped market.”
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even
senior citizens who enjoy strolling through the gardens and the arbors. “There’s
something here for everyone,” Gail Hart said with a smile. “Dozens of companies hold
annual company picnics here. We have welcomed class field trips. And we even had
one wedding here at the park!”
“Here’s the funny thing,” Ron chimed in. “We really don’t know why we’ve been so
successful. There is nothing else like Fun-Spot Fun Park in the area. We were just
lucky.” “I think it’s the ambience of the park that has brought so many visitors,” Gail
added. “We provide a ‘total package’ of entertainment. Plus, we try to change our rides
and various attractions from time to time for variety.”
Ron and Gail Hart admitted that making every visitor happy is a priority. “That has
always been our philosophy,” they said. “Like the park’s motto at the entrance reads,
‘We’re here to make you happy!’ And we’ve always been able to deliver on that because
we’ve never allowed ourselves to grow too big too quickly.”
Ron and Gail, owners of Fun-Spot, strive to provide new offerings and entertainment
options for their visitors. This type of strategy can be best described as ________.
A) market penetration
B) market development
C) product development
D) niche marketing
E) diversification
Formed in 1957, the ________ set out to create a single European market by reducing
barriers to the free flow of products, services, finances, and labor among member
countries and developing policies on trade with nonmember nations.
A) Uruguay Round
B) European Union
C) European Organization
D) European Central Bank
E) CAFTA
________ is a management approach that involves developing strategies that both
preserve the environment and produce profits for the company.
A) Aesthetic consumerism
B) Profitable environmentalism
C) Environmental sustainability
D) Sustainable ecology
E) Corporate marketing
Which of the following refers to a nonprobability sample in which the researcher finds
and interviews a prescribed number of people in each of several categories?
A) quota sample
B) judgment sample
C) convenience sample
D) stratified random sample
E) simple random sample
Evelyn’s vacuum is at the ________ stage of the product life cycle.
A) product development
B) introduction
C) growth
D) decline
E) maturity
The aim of ________ is to make an advertisement so useful or entertaining that people
want to watch it.
A) branded entertainment
B) advertainment
C) viral marketing
D) buzz marketing
E) word-of-mouth advertising
Why are ad expenditures high for products in the introduction stage of the PLC?
The three types of shopping centers are regional shopping centers, community shopping
centers, and neighborhood shopping centers/strip malls. Describe how they are different
from each other.
What elements comprise a store’s atmosphere?
When does product line stretching occur?
Discuss the advantages of using the services of an advertising agency.
Why do marketers find baby boomers attractive?
Describe the main objectives of reminder advertising.