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In the GE Business Screen model, Business Position looks at factors like government
regulations, sensitivity to economic trends and size of the market.
Starbucks is known to have shops located across the street from each other. It appears
that the coffee shop chain is offering place utility.
Bonus payments, prizes, trips, and other incentives to induce a salesperson to push one
product over another are forms of consumer sales promotion.
The order of the steps in the AIDA model is not important.
Personal characteristics refer to demographic and lifestyle attributes.
Generation Y, people born between 1978-1994, tend to be pragmatic, optimistic, good
team players, savvy, and edgy in nature.
Exclusive distribution often arises because a significant personal selling effort is
required with the consumer before product purchase.
According to the consumer product adoption process, laggards refers to a group of
people who are product avoiders and who want to evade adoption as long as possible.
The major objectives of packaging are to protect the product, communicate information
about the product, and encourage product use.
CRM software is exclusively for the use of the Information Technology experts.
The new-product development process can be described in three steps: (1) identify
product opportunities, (2) define the market place parameters for the possibility of
government regulation, and (3) develop the product opportunity.
Since customers make brand connections, marketing managers generally want to extend
brands to new products, irrespective of how well they fit with the existing perception of
the brand as long as the extension is into a profitable category.
The service-profit chain identifies that increases in service through the cultivation of
employees leads to higher customer costs and the potential erosion of profits.
Customers are not a good source of competitor information because they tend to be
biased in their opinions.
According to ______, there are 5 levels of needs and people advance to the next level if
the lower needs are met.
A.Maslow's Hierarchy of Needs Theory
B.Expectancy Theory
C.Herzberg's Two-Factor Theory
D.McClelland's Achievement Motivation Theory
E.Aldelfer's ERG Theory
According to Maslow's Hierarchy of Needs Theory, there are 5 levels of needs
(Physiological, Safety, Love/Social, Self-Esteem, and Self Actualization). People
advance to the next level of need if the lower needs are met.
Margot works for a retailer that carries a number of different product items within a
product category and this is known as _________________.
A.Assortment
B.Market penetration
C.Product reach
D.Variety
E.Breadth of merchandise
Assortment is the number of different product items within a product category and is
referred to as the depth of merchandise.
Organizational learning occurs in which phase of the CRM process?
A.Knowledge discovery
B.Market planning
C.Analysis and refinement
D.Customer interaction
E.Direct sales
In the analysis and refinement phase of the CRM process, organizational learning
occurs based on customer response to the implemented strategies and programs.
The business market purchase decision process is triggered by someone inside the
company who _____________.
A.Is a department head
B.Is a member of the procurement department
C.Identifies a need
D.Attends a meeting to brainstorm
E.Has a lot of information about the product to be purchased
The business market purchase decision process is triggered when someone inside or
outside the company identifies a need.
NAICS codes are a classification of businesses that ___________.
A.List the primary output of the business
B.Each company gets only one code
C.Are used across the US, Mexico, and Canada
D.Defines 20 major business sectors
E.All of the above
The North American Industrial Classification System (NAICS) codes include
businesses in US, Mexico, and Canada. It defines 20 major business sectors and
classifies companies on the basis of their primary output. Each company gets only one
code.
Jim got over 21 million results when he visited a search engine to find out how to build
his own web site. This trend is identified by Wiersema's new market reality of
_____________________.
A.Easy growth makes hard times
B.Customers have less time than ever
C.Information overwhelms and depreciates
D.All secrets are open secrets
E.Competitors proliferate
Jim got over 21 million results when he visited a search engine to find out how to build
his own web site. This shows that there is a lot of information available on the Internet
and hence it represents Wiersema's new market reality of information overwhelms and
depreciates.
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. 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
As per Ansoff's Product-Market Matrix, market penetration means increasing sales of
existing products in existing markets. The discount offer sent by the company to its
existing clients is intended to increase consumption of its services by the existing
clients. Thus it is an example of market penetration strategy.
Internet and direct mail are useful as advertising media because
____________________________.
A.They are high involvement
B.They appeal to multiple senses
C.They are flexible
D.They use traditional media
E.All of the above are good reasons to use Internet or direct mail.
Both the Internet and direct mail offer the advantage of flexibility.
Miguel has eight traditional Cuban restaurants in South Florida and he wants to track
his customers by building a database. He would do this in the ___________ element of
the CRM process cycle.
A.Data mining
B.Knowledge discovery
C.Marketing planning
D.Customer interaction
E.Analysis and refinement
Knowledge discovery is the process of analyzing the customer information acquired
through various customer touchpoints.
The _______________ stage of the AIDA model is most important when customers are
essentially unaware of an offering, and most of the investment in communication must
be in raising awareness.
A.Decoding
B.Interest
C.Desire
D.Action
E.Attention
If target customers are essentially unaware of an offering, most of the investment in
communication must be in raising awareness and gaining their attention.
When you tell someone you are a marketing major in college, he or she may think you
want a career in ________________.
A.Management
B.Information technology
C.Sales
D.Customer service
E.Financial planning
A common misconception about marketing is that it is all about selling. Selling, or more
correctly "personal selling," is simply another method of marketing communication.
Moore Diversified Services decides to create a group that is made up of people from the
purchasing department, senior management with financial knowledge, and engineers
with design expertise. It is common for this group to be called a(n) _________.
A.Ad hoc group
B.Party planner
C.Selling partner
D.Buying center
E.Post hoc group
Business purchases are seldom made by just one person, particularly in modified rebuy
and new purchase situations. A number of individuals, from diverse backgrounds, with
a stake in the purchase decision come together to form a buying center.
XYZ Marketing Research is testing how customers react to a proposed advertising
campaign for Go Fast Sports Cars. They have consumers sit in an MRI machine and
monitor which areas of the brain are activated as the participants watch a series of
commercials and print ads. They are using _______ to collect the data needed to solve
the research problem.
A.Qualitative recording
B.Mechanical devices
C.Behavioral measures
D.Surveys
E.Focus Groups
An MRI is one type of mechanical device that can be used in marketing research.
An initiator is ____________.
A.Any person who starts the purchase process
B.A senior executive that makes a decision that requires new resources
C.A "user" who re-orders when supplies run low
D.All of the above
E.None of the above
The initiator starts the buying decision process. An initiator can be the user of the
product or a senior executive who makes decisions that require new resources.
Generational shifts impact marketing in terms of human resources. Older and younger
generations may have different _________________.
A.Attitudes towards work life versus family life
B.Expectations about job satisfaction and rewards
C.Preferred modes of learning and working
D.All of the above
E.None of the above
Generational shifts may lead to differences in attitudes towards work life versus family
life, expectations about job satisfaction and rewards, preferred modes of learning and
working. Understanding the generational differences and how to work to appeal to
different generations' values and preferences is a critical part of marketing management.
By influencing customers to purchase right now due to some strong benefit or need, a
coupon or special offer would contribute to the promotional goal to ______________.
A.Accept
B.Remind
C.Persuade
D.Inform
E.Act
The goal to persuade through promotion is served by impacting customer perceptions of
a product, especially in comparison to competitor's products, getting customers to try a
product, hopefully resulting in a more permanent switch from a competitor, influencing
customers to purchase right now due to some strong benefit or need, and by driving
customers to seek more information online or through a salesperson. A coupon could
serve this purpose.
A(n) _______________ protects an intermediary from having to compete with others
selling a producer's goods.
A.Management contract
B.Exclusive contract
C.Exclusive dealing
D.Exclusive territory
E.Tying contract
An exclusive territory protects an intermediary from having to compete with others
selling a producer's goods. For this practice to be legal, it would have to be
demonstrated that the exclusivity doesn't violate any statutes on restriction of
competition.
With respect to the product adoption process, marketers are interested in knowing
___________.
A.The rate at which the product will be adopted as well as the timeline for adoption
B.The rate at which sales will exceed costs
C.The rate at which the late majority come into the market during growth
D.The rate of the early majority acceptance of the product
E.The duration required to reach breakeven
The purpose of the product life cycle is to see the timeline for the rate of adoption by
the market.
When a competitor used its logo in a disparaging way in an advertisement, XYZ brand
sued the competitor. It won the suit on the basis that the competitor violated its
trademark. This is an example of the _______ role the brand plays for the brand
sponsor.
A.Benchmarking
B.Education
C.Protection
D.Invigoration
E.Categorization
Brands offer legal protection for the product through a trademark. By protecting the
brand, the company is able to defend essential product elements such as its features,
patentable ideas in manufacturing or product design, and packaging.
Harvey has just been hired as a marketing manager for a start-up technology company.
His bosses have asked him to look at the pricing of their products and determine if the
pricing strategies are best. Harvey is nervous because he has never done that before.
How would you walk him through the pricing decision-making process?
Define demographics and explain why they are useful to marketers. What specific
demographic trends are of interest to marketers and why?
Your textbook says that "Wal-Mart has been working hard to solidify its community
connectedness, organizational culture, and business model to allow the €world's largest
retailer' to become an enabler of customer relationships". What do you think of
Wal-Mart's efforts? Do you shop at Wal-Mart? Why or why not? What evidence do you
see of the textbook's claims?
In B2B markets, relationships and technology are increasingly important. Describe the
role of each.
Identify three internal issues that may contribute to new product failure.
Why is marketing no longer confined to a company's local market?
A franchise organization is an excellent example of which VMS? How do franchise
organizations fall into this category?
