A fundamental rule in marketing is to not set customer expectations so high that they
cannot be effectively met on a consistent basis.
The perceived quality of a brand enables companies to extend the product range, can
lead to a price premium opportunity, and is an excellent differentiator in the market.
ROMI is the metric du jour for many firms’ bottom line.
In evaluating a website, one of the key measures is its ‘stickiness,” which refers to the
length of time visitors remain at the site.
Motivation is a system to select, organize, and interpret information to create a useful,
informed picture of the world.
Global marketing research focuses on three types of basic information.
A company that uses positioning often uses a price-quality perceptual map to show
where it is positioned versus the competition. This helps it understand if it needs to
either change pricing strategy or quality standards.
B2B sales worldwide are in excess of $1 trillion.
The dashboard must push beyond portrayal of what is happening to explain why it is
happening, providing insight into where expectations were inaccurate and helping hone
the process of setting expectations and forecast for the future.
Conducting an online focus group is an appropriate alternative to a traditional focus
group format, and it offers cost-efficiency and convenience advantages.
Price objectives are the desired or expected result associated with a pricing strategy and
can be inconsistent with other marketing-related objectives such as positioning or
branding.
Telemarketing has one of the highest response rates of any direct marketing channel.
The just noticeable difference (JND) in a price is the amount of price increase that can
be taken without affecting customer demand.
Doug runs a hardware store. He learned that customers process the price of $9.99 as
significantly lower than the price of $10.00 because of the reduced digit count in the
price point. Accordingly, he follows this rule to set up the prices for all products. Doug
uses _____.
A. Psychological pricing
B. One-price strategy
C. Variable pricing
D. Everyday low pricing (EDLP)
E. High/low pricing
________ are product enthusiasts who enjoy being the first to try and master a new
product.
A. Innovators
B. Early adopters
C. Early majority
D. Late majority
E. Laggards
Today many CEOs and shareholders expect to measure results of marketing efforts
because ___________.
A. Marketing metrics today are designed to assign specific results to specific marketing
programs
B. They are unrealistic in believing that all marketing is measurable
C. It is easy to do
D. All of these
E. Both marketing metrics today are designed to assign specific results to specific
marketing programs and it is easy to do
U.S. companies that earn more than 50 percent of their revenue from international
markets include all but ______________.
A. Starbucks
B. Hewlett-Packard
C. Nike
D. Caterpillar
E. Chevron
IMC is different from traditional promotion mix strategy in a way that IMC
_____________.
A. Has the elements developed separately
B. Is fully customized to different customer groups
C. Is a holistic and interrelated decision process
D. Both has the elements developed separately and is fully customized to different
customer groups
E. Both is fully customized to different customer groups and is a holistic and
interrelated decision process
To use target return pricing, one must first calculate total _______________.
A. Fixed costs
B. Variable costs
C. Total costs
D. Both fixed costs and variable costs
E. Both variable costs and total costs
The process of measuring marketing results and adjusting the marketing plan as needed
is called ________.
A. Marketing control
B. Marketing metrics
C. Marketing management
D. Marketing strategy
E. Marketing planning
Office Depot has a number of direct relationships using EDI with thousands of
companies. This relationship is done through a concept called ____________.
A. Extranet
B. Intranet
C. Electronic impact analysis
D. Utility functionality
E. Quick response program
To ensure that inventories of both raw materials and finished goods are sufficient to
meet customer demand without undue delay, firms utilize sophisticated
________________.
A. Just-in-time (JIT) inventory control systems
B. Materials requirement planning (MRP)
C. Exclusive dealing
D. Exclusive territory
E. Tying contract
Products that are new-to-the-world create a product situation that can be described as
______________.
A. Supply chain shifting
B. Innovation by intimidation
C. Diluted innovation
D. Disruptive innovation
E. None of these
Costco and American Express joined together to offer a Costco-American Express card
that allows users to get rebates on their purchases at Costco while expanding the reach
of American Express to Costco members. This is an example of _______.
A. Family branding
B. Store branding
C. Stand-alone branding
D. Co-branding
E. Licensing
The sum of the fixed and variable costs are ______.
A. Marginal costs
B. Total costs
C. Average costs
D. Both marginal costs and total costs
E. Both total costs and average costs
__________ is not one of the critical mistakes made in closing.
A. Negative attitude
B. Lack of preparation
C. Too much talking
D. Consistent and standardized presentation
E. Not enough listening
Herzberg’s Two-Factor Theory proposes which two key elements of motivation?
A. Physiological and safety factors
B. Self-esteem and self-actualization factors
C. Existence and relatedness
D. Motivators and hygiene factors
E. Need for achievement and need for affiliation
______ gains attention and interest through humorous portrayal. For example,
Budweiser’s famous frogs are not soon forgotten.
A. Mood/affect
B. Humor
C. Slice of life
D. Demonstration
E. Lifestyle
Mercedes-Benz offers a lifetime roadside assistance warranty on all of its vehicles and
shows that Mercedes is committed to customer service. This is an example of the ability
of a warranty to ___________________.
A. Provide a cost to customers
B. Provide a service to customers
C. Convey a message to customers
D. Build brand awareness
E. Build brand identity
Matthew is not prompted to value new information about the latest new pet grooming
tools. This is an example of ______.
A. Low-involvement purchasing
B. Low learning motivation
C. Low level of commitment
D. Low-involvement learning
E. Low-importance purchasing
Joe’s perceptions are shaped by these three psychological tools: _____, ______, and
______.
A. Selective hearing, selective attention, selective vision
B. Selective attention, selective distortion, selective retention
C. Selective distortion, selective attention, selective vision
D. Selective awareness, selective vision, selective attention
E. Selective awareness, selective distortion, selective retention
While researching the possible impact of economic conditions on a proposed new
product introduction on the Internet, you find an article in Bloomberg Businessweek
online that reviews how new products have fared during times of rising inflation. These
secondary data were found on a(n) ________ website.
A. Market research organization
B. General knowledge
C. Open-use
D. Community-generated
E. File-sharing
Mammoth Foods, a major agricultural corporation, recently purchased MJS Organic
Foods Co. MJS was established six years ago and has become a major supplier to
restaurants in the northeastern United States. The organic herbs, vegetables, and fruit
market is expected to have a double-digit growth rate over the next decade. Most likely,
MJS would be classified as a ________ under the Boston Consulting Group model.
A. Star
B. Cash Cow
C. Dog
D. Problem Child
E. Top Gun