________ means that service quality depends on the quality of buyer-seller interaction
during the service encounter.
A) Interactive marketing
B) Service differentiation
C) Service productivity
D) Corporate image marketing
E) Traditional external marketing
Which of the following is true of vertical marketing systems?
A) Producers, wholesalers, and retailers act as a unified system.
B) Channel members have no control over each other.
C) Channel conflict is governed by informal mechanisms.
D) The system is dominated by the consumer.
E) Channel members work independently with no cooperation from other members.
Most competitors in the music download industry see Apple’s iTunes Music Store as a
________ because it created a closed system with mass appeal.
A) good competitor
B) marginal competitor
C) bad competitor
D) weak competitor
E) distant competitor
________ measures the profits generated by investments in marketing activities.
A) SWOT analysis
B) A marketing audit
C) Regression analysis
D) Return on marketing investment
E) Marketing budget evaluation
An American airline company started a grocery chain in Australia. This is an example
of product development.
In the context of behavioral segmentation, who among the following is a potential user?
A) Anita, who recently had a baby
B) Peter, who recently changed his job
C) Mary, who enrolled as a graduate student in a university last year
D) Gina, who opened a dental clinic in Orange County
E) Raj, who is planning a trip to Hawaii with friends
Most of the market is in the hands of the ________, the firm with the largest market
share.
A) market challenger
B) market follower
C) market leader
D) market nicher
E) market maven
Iceco Inc., an ice-cream manufacturing company, encourages all stakeholders, including
the top management and employees at all levels in their stores, to consider individual
and community welfare in their day-to-day decisions. This action undertaken by Iceco
reflects ________.
A) environmentalism
B) social responsibility
C) the selling concept
D) partner relationship management
E) marketing myopia
Which of the following is true of value-based pricing?
A) The targeted value and price drive decisions about what costs can be incurred and
the resulting product design.
B) Value-based pricing is mostly product driven.
C) Value-based pricing involves setting prices based on the costs of producing,
distributing, and selling the product plus a fair rate of return for its effort and risk.
D) The marketer usually designs a product and marketing program and then sets the
price.
E) A company using value-based pricing designs what it considers to be a good product,
adds up the costs of making the product, and sets a price that covers costs plus a target
profit.
Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small,
seaside motel to a thriving year-round resort in just a few years. Atop a cliff
overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during
summer, but then faced a tremendous downturn in business during winter. “But, given
the established industries in the nearby towns, very little year-round competition, and
our close proximity to Portland,” Carol added, “I couldn’t understand why seasonality
had to hit Seagull Terrace so hard!”
So Carol spent her first winter devising a new marketing plan. She put together a
promotional package designed to attract business travelers year-round. Carol’s plan also
involved a seasonal promotional gimmick-to be implemented from early winter to late
spring-that would attract the same numbers as the large summer crowd. Her idea
worked! During her second winter, Carol greeted numerous business travelers-both
satisfied repeat guests as well as new guests who had been snagged by her promotional
appeals.
“We still have a long way to go,” Carol admitted. “Our delicatessen offers entrees that
are a part of the local cuisine, but we’d like to expand that. We provide health club
privileges off-site, but we’d like to eventually provide our own. These are goals I hope
to achieve in a few years. Our first project, however, included a renovation of our guest
rooms and I’m quite proud of the results.” Carol then added, “Actually there are so
many possibilities. With an indoor pool area, I will eventually offer weekend getaways
throughout winter.”
Carol Veldt has decided to ask selected guests to participate in an extensive survey
about their experience at Seagull Terrace and about their requirements in terms of
amenities and cuisines. By implementing the suggestions she receives from guests,
Carol would be following the ________ concept.
A) production
B) product
C) selling
D) marketing
E) societal marketing
Growing Green, a U.S. company that markets organic and environmentally friendly
gardening and landscaping supplies and equipment, wants to expand the business
internationally. Growing Green managers are currently examining the rules imposed by
the WTO and the agreements made by NAFTA and the EU. In which stage of the
international marketing process is Growing Green?
A) deciding on the global pricing strategies
B) deciding which markets to enter
C) deciding how to enter the market
D) deciding on the global marketing program
E) looking at the global marketing environment
The ________ Web site provides a single point of entry through which commercial
vendors and government buyers can post, search, monitor, and retrieve opportunities
solicited by the entire federal contracting community.
A) U.S. Small Business Administration
B) Center for Regulatory Effectiveness
C) Federal Business Opportunities
D) Federal Civil Defense Authority
E) U.S. Commerce Department
Which of the following Web sites facilitates consumer-to-business online marketing?
A) ebay.com
B) Overstock.com
C) Craigslist.com
D) cisco.com
E) Priceline.com
The major purpose of test marketing is to provide management with the information
needed to make a final decision about ________.
A) how to develop a marketing strategy
B) which market to compete in
C) whether to launch the new product
D) how to compete in the market
E) how long to compete in the market
If a large retailer sold numerous items below cost with the intention of punishing small
competitors and gaining higher long-run profits by putting those competitors out of
business, the retailer would be guilty of ________.
A) price collusion
B) price fixing
C) predatory pricing
D) competitive pricing
E) penetration pricing
Which of the following is the first step of business portfolio planning?
A) shaping the future portfolio by developing strategies for growth and downsizing
B) determining which businesses should receive more, less, or no investment
C) identifying internal strengths and weaknesses
D) identifying future opportunities
E) determining short-term goals
________ are a form of product that consists of activities, benefits, or satisfactions
offered for sale that are essentially intangible and do not result in the ownership of
anything.
A) Liabilities
B) Services
C) Brands
D) Consumer products
E) Specialty products
Rather than competing head to head with established competitors, many companies
seek out unoccupied positions in uncontested market spaces. They try to create products
and services for which there are no direct competitors. This is called a ________.
A) horizontal integration approach
B) commercialization process
C) guerrilla marketing technique
D) blue ocean strategy
E) lean dynamics approach
________ is a measure of the percentage of people in the target market who are
exposed to the ad campaign during a given period of time.
A) Reach
B) Qualitative value
C) Impact
D) Premium
E) Frequency