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Company growth through diversification involves offering modified or new products to
the company's current markets.
Value-based pricing uses the sellers' perception of value as the key to pricing.
A firm can obtain new products through acquisition or new-product development
efforts.
Product value analysis is an approach to enhancing productivity.
When Tool Trade, an American company, uses qualified Brazilian manufacturers to
produce many of the products it sells to retailers in South America, Tool Trade is using
contract manufacturing.
A pulsing schedule involves scheduling ads unevenly over a given time period.
The distribution strategy during the decline stage of PLC involves building more
intensive distribution networks.
Mass marketing involves identifying market segments, selecting one or more of them,
and developing products and marketing programs tailored to each.
When using a niche marketing strategy, a firm goes after a large share of one or a few
smaller segments.
The popularity of cause-related marketing as a form of corporate giving is rapidly
declining.
Internal factors affecting pricing include the company's overall marketing strategy,
objectives, and marketing mix.
Digital catalogs eliminate printing and mailing costs.
Service companies can differentiate their service delivery by ________.
A) using symbols and logos
B) instituting a hierarchical organizational structure
C) offering innovative product features
D) de-emphasizing branding
E) having more able and reliable customer-contact people
Companies can identify their competitors from both ________ points of view.
A) industry and market
B) product and customer
C) customer and location
D) location and product
E) product and strategy
Which type of wholesaler sells to manufacturers rather than to retailers?
A) industrial distributor
B) full-service wholesaler
C) cash-and-carry wholesaler
D) wholesale merchant
E) limited-service wholesaler
While shopping at KelfanDesigns.com, Shelly came across a checkbox beside which a
statement said, "I want to receive promotional offers from KelfanDesigns.com." Which
of the following types of marketing is illustrated in this example?
A) telemarketing
B) viral marketing
C) direct response television marketing
D) contextual advertising
E) permission-based e-mail marketing
Melissa Thomas leads the marketing research division at Tronics Inc., a manufacturing
company based in Alabama. To improve future sales of the company's products, she has
decided to collect customer opinions and feedback on the current products offered by
her company. For this purpose, Melissa is looking for a highly flexible contact method
which can be used to gather large amounts of data within the least possible time. In this
instance, which of the following contact methods is most likely to hold the highest
appeal for Melissa?
A) online surveys
B) in-depth interviews
C) telephone interviews
D) individual interviews
E) mail questionnaires
Capitalizing on the customer's complaints about the previous detergents she has used,
Sheila, a salesperson, explains to the customer why her company's detergent Swish is
better and how it can be a one-stop solution for everyday washing. In which of the
following steps of the selling process is Sheila in?
A) follow-up
B) handling objections
C) preapproach
D) presentation
E) prospecting
The Treble Clef sells music books, musical instruments, and novelty gifts of a musical
nature. In recent years, owner Gary Zahn has served as the local representative of
several musical instrument manufacturers, providing a contact person for three local
schools. He sends a sample of a manufacturer's products to schools that request a
demonstration or presentation. "If we don't have it, we can definitely get it for you,"
Gary tells all Treble Clef visitors and customers.
Most walk-ins are particularly interested in a specific piece of sheet music from a
particular era or just browsing among the hundreds of music knick-knacks in the store.
Gary spends most of his time making presentations to beginners at the local schools and
making biweekly visits to the schools to deliver instruments, make minor repairs, or
pick up instruments to ship to the manufacturer for more complicated repairs.
After establishing a loyal customer base, Gary was convinced that a Treble Clef Web
site could benefit a variety of customers. He began with a simple Web site which
provided information about the store and the types of gifts and services available. The
site received so much response that Gary added a question-and-answer option.
Questions poured in, ranging from "Where can I get sheet music for 'Hello, Dolly'?" to
"Do you carry clarinet reeds?" to "My saxophone needs two new pads. When will you
be at Elmhurst School to repair it?" The Web site is now able to accept credit card
orders, and gifts can even be wrapped and shipped for no extra charge.
"This Web site idea was fantastic!" Gary admitted. "It allows us to be so responsive.
And our novelties sales have doubled!"
Which of the following best describes Treble Clef?
A) click-only company
B) click-and-mortar company
C) brick-and-mortar company
D) shell company
E) buy-here pay-here company
John Mayes opened Sparkle Janitorial in 2005. John began his business by acquiring
two contracts for office cleaning services from two local manufacturing facilities. For
two years, John and his wife, Barb, performed the cleaning services alone. After
acquiring three additional cleaning contracts in 2007, John hired two employees.
"Up to that point, we had room to grow but we really had no advertising plan," John
stated. "We were relying mostly on word-of-mouth."
By 2010, Barb hired another two full-time employees to begin Sparkle's new endeavor:
carpet cleaning in homes and offices.
"Competition was getting tough for both of our services at that point," Barb added. "We
ran a local radio spot three times each week. Then we had an advertiser print coupons
on placemats. That gave us a little more exposure."
John and Barb Mayes admit that they did not realize the value of a sound promotional
plan earlier. "We wish we would have put together something catchy with a jingle long
before now," they said.
When starting their business, John and Barb would most likely have benefitted from
understanding ________.
A) social media
B) buzz marketing
C) public relations campaigns
D) network television advertising
E) integrated marketing communications
Personal communications about a product between target buyers and neighbors, friends,
family members, associates, and other consumers, are known as ________.
A) personal selling
B) direct marketing
C) public relations
D) buzz marketing
E) word-of-mouth influence
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
________ is an organized movement of citizens and government agencies to improve
the rights and power of buyers in relation to sellers.
A) Environmentalism
B) Protectionism
C) Liberalism
D) Consumerism
E) Capitalism
Greg Williams now has the buying power to purchase the desktop computer that he has
wanted for the last six months. Greg's want now has become a(n) ________.
A) need
B) necessity
C) demand
D) exchange
E) transaction
________ refers to how a company will create differentiated value for targeted
segments and what positions it wants to occupy in those segments.
A) Cluster analysis
B) Closed-loop marketing
C) Product positioning
D) Value proposition
E) Value stream mapping
Which of the following is true of promotional pricing?
A) It leads to 'deal-prone' customers who buy products only during sales.
B) It fortifies the brand's image in the eyes of customers if relied upon extensively.
C) It simplifies shopping for customers if used simultaneously by multiple stores.
D) It makes balancing short-term sales incentives against long-term brand building
unnecessary.
E) It is extremely beneficial for the brand's profitability if practiced repeatedly.
In most cases, what is the most expensive promotion tool?
A) advertising
B) personal selling
C) mass media
D) public relations
E) publicity
What is the primary focus of a customer-centered company?
What is the most common CRM mistake?
Describe the most common forms of marketing organizations.
How is the personal selling process and customer relationship management
interrelated? What are the primary requirements of value selling?
What are the different dimensions of a company's product mix? Briefly describe each
dimension.
Briefly explain why the European Union could be considered a threat to U.S. marketers
that want to do business in Europe.
The marketing team at Bead Beautiful, a jewelry brand targeted at preteen girls, is
meeting to formulate the products' value proposition. What should team members
consider as they define a value proposition for Bead Beautiful?
Why would a producer use wholesalers rather than sell directly to retailers or
consumers?
What are two potential drawbacks of creating separate products and marketing
programs for each generation?
Explain the impact of the baby boomers, Generation Xers, and Millennials on today's
marketing strategies.
