Downstream marketing channel partners, such as wholesalers and retailers, form a vital
link between the firm and its customers.
An experience such as a vacation can be defined as a market offering.
Solutions selling ________.
A) is often a key business marketing strategy for winning and holding accounts
B) refers to a business buying situation in which the buyer purchases a product or
service for the first time
C) refers to a business buying situation in which the buyer wants to modify product
specifications, prices, terms, or suppliers
D) is equivalent to cold calling
E) refers to a business buying situation in which the buyer routinely reorders something
without any modifications
Kinger Burgers came out with a new hamburger and, before including it into its main
menu, released it in two different cities with two different prices. The marketers at
Kinger Burgers then analyzed the different levels of purchase made at these two
different places, planning to using the information to help them set a nationwide price
for the new offering. This is an example of ________.
A) ethnographic research
B) descriptive research
C) DIY research
D) experimental research
E) survey research
Sigma Inc. has 2,000 Type-A accounts, each requiring 35 calls per year, and 1,000
Type-B accounts, each requiring 15 calls per year. What is the sales force’s workload?
A) 15,000 calls
B) 35,000 calls
C) 70,000 calls
D) 85,000 calls
E) 95,000 calls
Experience-curve pricing assumes that ________.
A) competitors are weak and not willing to fight price cuts
B) competitors are strong and invincible
C) aggressive pricing adversely affects product image
D) volume-based production slows down organizational learning
E) lower-cost technologies are almost always inferior
Today, ________ are flourishing due to the increased use of market segmentation and
market targeting.
A) chain stores
B) specialty stores
C) superstores
D) discount stores
E) off-price stores
A ________ calls for consumers to submit an entry to be judged by a panel that will
select the best entries.
A) contest
B) sweepstake
C) sample
D) premium
E) rebate
Which budgeting method entails defining specific promotion goals, determining the
necessary tasks, and estimating the costs to determine a promotion budget?
A) percentage-of-sales method
B) objective-and-task method
C) affordable method
D) exponential task method
E) competitive-parity method
Most companies will compete with ________ rather than ________.
A) distant competitors; close competitors
B) close competitors; distant competitors
C) benchmarkers; distant competitors
D) market challengers; market followers
E) market challengers; market nichers
Which of the following is a conventional consumer marketing channel?
A) producer to business distributor to end-consumer
B) producer to wholesaler to retailer to end-consumer
C) producer to end-consumer to business customer
D) producer to retailer
E) producer to business distributor to business customer
The challenge for makers of which type of product is to add long-run benefits without
reducing the product’s desirable qualities?
A) salutary product
B) desirable product
C) pleasing product
D) durable product
E) deficient product
________ refers to a business buying situation in which the buyer purchases a product
or service for the first time.
A) Modified rebuy
B) Straight rebuy
C) New task
D) Reverse auction
E) Derived demand
Which of the following best describes a strategic business unit (SBU)?
A) the internal value chain of a company
B) the supply chain of a company
C) the key businesses that make up a company
D) the key channel intermediaries of a service company
E) the key competitors of a company
Why are people reached by direct mail better prospects for a company than those
reached by mass media such as television or magazines?
What happens in a modified rebuy?
If demand falls by 15 percent when a seller raises its price by 3 percent, what will be
the price elasticity of demand? Is the demand elastic or inelastic?
Differentiate between market skimming and market penetration pricing strategies.
Explain the conditions within which they are effective.
Describe a scenario that shows why a company may want to avoid destroying a close
competitor.
Explain how wholesalers have been able to use technology to cut costs.
How has the Internet affected how companies set prices on global products?
Why do some consumers resent marketing research?
What factors should a firm consider when selecting intermediaries?