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People who know about many different types of products, initiate discussions about and
respond to others' inquiries are called _____________.
A.Opinion leaders
B.Market mavens
C.Influencers
D.Early adopters
E.Innovators
Market mavens have information about many kinds of products, places to shop, and
other facets of markets. They exert influence over an individual's product and brand
choice.
_______ is the means of communicating through facial expressions, eye behavior,
gestures, posture, and any other body language.
A.Cultural expressionB.Nonverbal communicationC.Communiqu©D.Situational
communicationE.Verbal communication
Nonverbal communication is usually understood as the process of communication
through sending and receiving wordless messages. It involves various means of
communication other than the language like facial expressions and body language.
The CEO of Big Wheel automotive is concerned about declining sales. He has
identified his research problem as the fact that his competitors are drawing away his
business. He purchases access to automobile rankings from J.D. Power and Associates
to learn about possible reasons for the shift in consumer purchasing. He is using
_________ for secondary data about his research problem.
A.Surveys
B.Market Research Organizations
C.Government Sources
D.The library
E.Observation
A number of market research organizations (like J.D. Power and Associates) publish
data helpful to marketers.
The effort a firm makes towards cultivating a customer-centric orientation requires a
high degree of ____________.
A.Spontaneity
B.Creativity
C.Formality
D.Formalization
E.Static structure
When a firm is making efforts to move towards a customer centric culture, it is essential
that the structure, processes and tools are formally established in support of the culture.
This refers to formalization within the firm.
Every aspect of the product experience is evaluated by the customer and then
considered against a set of ____________.
A.Peer evaluations
B.Guidelines set by the industry
C.Store features and benefits
D.Expectations
E.Societal norms
Every aspect of the product experience is evaluated by the customer and then
considered against a set of expectations. This evaluation is a critical element
contributing to overall satisfaction or dissatisfaction with the product.
________________ is NOT considered an objective.
A.To improve customer satisfaction ratings to 95%
B.To increase ROI by 20%
C.To be the leader in our field
D.To reduce cost of scrap material to less than 1% of total manufacturing cost
E.To get five new distributors
Objectives are quantitative statements. Answer C is qualitative.
_____________________________ is NOT a component of a direct mail piece.
A.Outside envelope
B.Sales collateral
C.Market space
D.Contact information
E.Coupons
The contents or elements in a direct-mail offer include outside envelope, sales
collateral, contact information, and maybe coupons.
With ______________ the potential market includes almost everyone with cable
television in the United States, however the actual number of viewers is small.
A.Direct selling
B.Television home shopping
C.Vending machine retailing
D.Catalog retailing
E.Electronic retailing
The potential market for television home shopping includes almost everyone with cable
television in the United States, however the actual number of viewers is small.
Shoppers must wait for the product to show up on the screen, which limits sales.
Gatekeepers are important in the B2B buying process because ____________.
A.They limit the number of vendors in a given buying process
B.They can create product specifications that block vendors
C.They control access to key people
D.All of the above
E.None of the above
Access to information and relevant individuals in the buying center is controlled by
gatekeepers. Similarly, engineering, quality control, and service department personnel
create product specifications that, in essence, limit the number of vendors.
___________________ is NOT one of the four basic selling activities that define the
salesperson's job.
A.Communicate
B.Build customer relationships
C.Manage information
D.Set price
E.Sell
Four basic selling activities composed of dozens of individual tasks define the
salesperson's job: communicate, sell, build customer relationships, and manage
information. The challenge for many companies is defining the correct mix of activities
and then adapting the activities as the selling environment changes.
An example of a customer touchpoint that allows only one way interaction is ________.
A.A retail store visit
B.Advertising
C.A Web site bulletin board
D.Personal selling
E.An online focus group
Customer touchpoints occur in many ways. In some cases, there is two-way interaction
(retail store visit, Web site bulletin board) while in other cases the interaction is one
way as in advertising or direct mail.
Choosing the right ______________ to align the retailer's corporate objectives with the
target market's needs is a critical element in the retail strategy.
A.Value equation
B.Product mix
C.Layout of the store
D.Retail positioning
E.Loyalty programs
A retailer's product assortment is an essential characteristic that defines the retailer in
the marketplace. So choosing the right product mix that aligns the retailer's corporate
objectives with the target market's needs is a critical element in the retail strategy.
When a supplier creates a restrictive agreement that prohibits intermediaries that handle
its product from selling competing firms' products, _______________ has occurred.
A.Just-in-time inventory control
B.Disintermediation
C.Exclusive dealing
D.Intensive distribution
E.Selective distribution
Exclusive dealing occurs when a supplier creates a restrictive agreement that prohibits
intermediaries that handle its product from selling competing firms' products. Exclusive
dealing may be legal if the parties show exclusivity is essential for strategic reasons,
such as to maintain product image.
The most important external forces on consumer choices are ____________ forces.
A.Culture and personality
B.Culture, language, and, values
C.Situational, social, and cultural
D.Personality, subculture, and social
Three wide-ranging external factors that have the most significant impact on consumer
choices are: cultural, situational, and social.
Market testing can take a long time, and this can result in ________.
A.Competitors being able to develop marketing strategies to counter a product launch
B.The company losing the excitement of a new product
C.Competitors being able to sabotage the firm's efforts
D.On-line guerilla tactics by competitors that will disrupt the sales cycle of the product
E.None of the above
One of the down sides to testing is the ability of competitors to prepare a counter attack
against a new product launch.
A typical supermarket carries between ________ product items.
A.10,000 and 20,000
B.20,000 and 30,000
C.30,000 and 40,000
D.40,000 and 50,000
E.50,000 and 60,000
A typical supermarket carries between 20,000 and 30,000 products. While that may
seem like a large number, it is only a small fraction of all the products available.
