Which of the following marketing strategies should marketing managers focus on to
manage detailed information about individual customers and carefully manage
customer touchpoints to maximize customer loyalty?
A) customer divestment
B) customer-managed relationships
C) the societal marketing concept
D) partner relationship management
E) customer relationship management
Which of the following is a competitive position or role that firms play in the target
market?
A) surrogate consumer
B) market analyst
C) market maven
D) market nicher
E) laggard
When a seller requires its dealers to abstain from handling competitors’ products, it is
called ________.
A) subjective distribution
B) exclusive dealing
C) selective distribution
D) exclusive pricing
E) disintermediation
Which of the following types of advertising will most likely result in an advertising
war?
A) covert advertising
B) institutional advertising
C) informative advertising
D) comparative advertising
E) reminder advertising
In the 1950s, Americans made a massive exit ________.
A) from the South to the Northeast
B) from the West to the Midwest
C) to foreign countries
D) from the cities to the suburbs
E) from the coastal towns to the cities
Which of the following refers to a marketing intelligence technique?
A) interviewing customers randomly
B) increasing the annual budget for R&D
C) investing heavily on primary research
D) implementing product diversification
E) benchmarking competitors’ products
The set of marketing tools a firm uses to implement its marketing strategy is called the
________.
A) promotion mix
B) product mix
C) marketing mix
D) market offering
E) marketing effort
Genma Steel, a steel manufacturer, caters to industrial companies and has set up a
corporate Web site in order to show potential customers its products and services.
Alongside the products are the testimonials of the various companies that have used
Genma’s products and services. Which of the following major online marketing
domains is evident from this example?
A) B-to-C
B) C-to-B
C) B-to-B
D) B-to-G
E) G-to-B
While collecting sensitive customer data, market researchers should adhere to all of the
following guidelines EXCEPT ________.
A) asking only for the information needed
B) using information responsibly to provide value
C) providing respondents with the research firm’s contact information
D) sharing information without the customer’s authorization
E) explaining to respondents how the information will be used
Industrializing economies are also known as ________ economies.
A) emerging
B) raw material exporting
C) totalitarian
D) subsistence
E) capitalist
Marketers often split the ________ into teens and young adults.
A) Generation X
B) Millennials
C) Silent Generation
D) baby boomers
E) Lost Generation
Kimberly’s Crown sells and designs jewelry. Despite the jewelry’s popularity, products
are available only through a few shopping stores across the country.
What mode of transport should Kimberly use to ship its goods over long distances as
quickly as possible?
A) flatcars
B) water transport
C) air transport
D) trucks
E) railroads
Which of the following marketing strategies is most suitable for smaller firms with
limited resources?
A) mass marketing
B) undifferentiated marketing
C) niche marketing
D) differentiated marketing
E) one-to-one marketing
Kimberly’s Crown sells and designs jewelry. Despite the jewelry’s popularity, products
are available only through a few shopping stores across the country.
What distribution strategy does Kimberly’s Crown use?
A) exclusive
B) intensive
C) selective
D) inclusive
E) extensive
Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of
$1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle.
What is the break-even volume?
A) 25,000
B) 55,000
C) 100,000
D) 115,000
E) 125,000
Describe the factors that might draw a company into the international arena.
Rather than challenging head on, the challenger can make a(n) ________ on the
competitor’s weaknesses or on gaps in the competitor’s market coverage.
A) bypass attack
B) frontal attack
C) indirect attack
D) guerrilla attack
E) pre-emptive attack
The managers of Arrow, an American retail chain, are currently reviewing new
demographic markets to sell the firm’s current products. This is an example of
________.
A) market penetration
B) product development
C) mass marketing
D) market development
E) product adaptation
Fixed costs ________.
A) are costs that do not vary with production or sales level
B) vary directly with the level of production
C) decrease with accumulated production experience
D) are the sum of the overhead and variable costs for any given level of production
E) represent the annual costs of inputs incurred by a company