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World product groups, geographical organizations, and international subsidiaries are all
options for organizing a(n)________.
A) export department
B) indirect exporting venture
C) joint ownership
D) international division
E) standardized global marketing strategy
Which of the following marketing management orientations focuses primarily on
improving efficiencies along the supply chain?
A) production concept
B) product concept
C) selling concept
D) marketing concept
E) societal marketing concept
________ involves adding more items within the present range of the product line.
A) Market diversification
B) Brand extension
C) Product line filling
D) Upward product line stretching
E) Downward product line stretching
Generation Xers, who were born between 1965 and 1976, share the childhood
experiences of higher parental divorce rates, recession, and corporate downsizing. They
tend to care about the environment and value experience over acquisition. Generation
Xers make up a ________.
A) subculture
B) social class
C) social network
D) life-cycle stage
E) lifestyle
A decision to position the product on high-performance quality will mean that the
________.
A) seller must charge a higher price to cover higher costs
B) seller must charge a lower price to attract more customers
C) producer must step down production
D) marketer must boost derived demand in the market
E) break-even volume will be fairly low
The selling concept is typically practiced ________.
A) to balance consumers' wants, company's requirements, and the society's long-run
interests
B) with products that offer the most in terms of quality, performance, and innovative
features
C) when the company focuses on building long-term customer relationships
D) with goods that buyers normally do not think of buying
E) by customer-driven companies
________ pricing uses buyers' perceptions of value as the key to pricing.
A) Customer value-based
B) Cost-based
C) Time-based
D) Markup
E) Target return
In a ________ situation, the "in" suppliers may become nervous and feel pressured to
put their best foot forward to protect an account and the "out" suppliers may see the
present situation as an opportunity to make a better offer and gain new business.
A) straight rebuy
B) new task
C) reverse auction
D) modified rebuy
E) solutions selling
Mercury Inc., an American MNC, is currently planning to enter the promising consumer
goods market in India. The firm will most likely discover that ________ beliefs and
values are more open to change in India.
A) inherited
B) secondary
C) primary
D) core
E) traditional
Alpha Stampings Inc. produces 14 metal stampings for the automotive industry. Due to
industry design changes and consumer demands, for the next financial year, six of those
stampings will require a slight change: two will have an extra hole punched through the
side, two will require an extra plating process, and two will require an additional weld
operation.
In the meantime, the purchasing agent Richard Koehl has been asked to reduce the
number of Alpha's steel suppliers in an effort to cut costs. After obtaining updated price
quotations and steel samples from his current suppliers, Richard faced a dilemma. Until
now, he had selected his suppliers based on quality and price, but the major
consideration had been the type of steel required and the specialized production
processes of his respective suppliers. Not all of Alpha's suppliers could produce the
exact grades of steel needed; some suppliers were better at producing certain types of
steel than others.
Richard contacted several employees at Alpha who had worked with the various types
of steel in the past. The quality control manager and line inspector, for example, could
help to determine which suppliers had the capabilities of producing specific types of
steel. The production control manager could provide input regarding which types of
steel worked best in which presses. The warehouse foreman gave inputs regarding how
long various types of steel could be held in inventory before rust spots began to form on
their surfaces. Each person contributed the necessary information to help Richard in
making his decision.
In this instance, Richard plays the role of a(n) ________.
A) decider
B) gatekeeper
C) influencer
D) proposal solicitor
E) product designer
To ________, a marketer would most likely ask target audience members whether they
remember the message, how many times they saw it, and what points they remember.
A) select a message source
B) collect feedback
C) select a message channel
D) plan a media purchase
E) design a marketing appeal
A group of business entrepreneurs who worried about their teenage children drinking
and driving decided there must be some way to approach this problem proactively. They
came up with an idea for a pair of blurry goggles. They believed looking through the
goggles would simulate what the world looks like when someone is seriously
intoxicated. They developed a crude pair of blurry goggles to show prospective
customers. This crude pair of goggles is known as a ________.
A) prototype
B) component part
C) synergistic model
D) product image
E) product idea
A company sent a trained observer to watch and interact with consumers in their natural
environments in order to gain deeper insights on consumer needs. This is an example of
________.
A) viral marketing
B) survey research
C) ethnographic research
D) experimental research
E) niche marketing
Which of the following conditions would enable higher market share to produce higher
profits?
A) when unit costs drop as market share increases
B) when unit costs increase as market share increases
C) when production volume drops as market share increases
D) when production volume remains unaltered as market share increases
E) when the company fails to break-even
In Japan, Budweiser beer flows from Kirin breweries, and Moringa Milk Company
produces Sunkist fruit juice. These are examples of ________.
A) contract manufacturing
B) management contracting
C) licensing
D) joint venturing
E) directly investment
Under ________, buyers share sales and inventory information directly with key
suppliers who monitor and replenish the buyer's stock automatically as needed.
A) vendor-managed inventory
B) delayed differentiation
C) demand chain management
D) enterprise resource planning
E) materials management
Think Ink is a growing company that sells a variety of inks for home and business
printers. Management at Think Ink has decided to open a sales branch overseas to
handle sales and distribution abroad. Think Ink is engaging in ________.
A) indirect exporting
B) direct exporting
C) licensing
D) joint ownership
E) management contracting
________ is an approach to cost reduction in which components are studied carefully to
determine if they can be redesigned, standardized, or made by less costly methods of
production.
A) Proposal solicitation
B) General needs description
C) Order-routine specification
D) Cost-benefit analysis
E) Product value analysis
Essential-Beauty is a rapidly growing firm that manufactures women's makeup,
perfumes, and nail-care products. The company has established itself as a high-end
cosmetic product brand available at most national drug stores. In the past, almost all of
the advertising for Essential-Beauty has been in women's fashion magazines.
The firm is now launching a new line of skin care products, ranging from facial
cleansers to body lotion. These products are designed to be marketed to a broader
audience, so the marketing team is exploring the effectiveness of different promotional
mixes.
Essential-Beauty e-mailed a survey to a group of its most frequent, loyal customers.
The survey asked what makeup and skin care characteristics were most important to
them. The company's marketing staff than ranked the performance of Essential-Beauty
products in each of these categories. Essentials was conducting a(n) ________.
A) customer lifetime value survey
B) entrepreneurial marketing strategy
C) intrepreneurial marketing strategy
D) customer value proposition
E) customer value analysis
Define customer equity and explain how a company can increase it.
Discuss the advantages and disadvantages of advertising.
Identify and describe the stages in the adoption process.
Explain the controversy surrounding cause-related marketing.
Describe the significance of public relations as a promotion tool.
Give an example of a slice-of-life message execution style.
