You are creating a survey for your company. The question you are currently working on
asks your business-to-business customers to describe the ideal purchasing transaction.
You are utilizing a(n) __________ question to collect the desired information.
A.Behavioral
B.Open-ended
C.Observational
D.Closed-ended
E.Probing
Open-ended questions encourage respondents to be expressive and offer the opportunity
to provide more detailed, qualitative responses. Since customers have to describe the
ideal purchasing transaction, this becomes an open-ended question.
Intel makes a product most people never see; however, it spent a great deal of money
building its brand and now people ask for “Intel Inside.” This is an example of linking
the ______ benefit of brand equity to marketing strategy.
A.Perceived Quality
B.Brand Image
C.Brand Connections
D.Perceived Bonuses
E.Brand Loyalty
Brand loyalty expedites the consumer purchase decision process and prevents
consumers from exploring other brand options. Since people ask for Intel products
without giving any consideration to competitor’s products, this is an example of brand
loyalty.
To accommodate lengthy sales processes, firms offer _____________, which reward
the purchaser for shifting part of the inventory storage function away from the
manufacturer.
A.Cash discounts
B.Trade discounts
C.Quantity discounts
D.Seasonal discounts
E.Promotional allowances
Firms often purchase seasonal products many months before the season begins. To
accommodate lengthy sales processes, firms offer seasonal discounts which reward the
purchaser for shifting part of the inventory storage function away from the
manufacturer.
The owners of ABC Medical Equipment have been developing the brand equity of their
MRI and CAT Scan equipment. Now, when someone mentions ABC’s machines,
radiologists and hospital purchasing agents usually say that they have heard of ABC’s
offerings and are interested in learning more about them. This response signals a
familiarity and potential commitment to the brand. They have achieved the _____
dimension of brand equity.
A.Brand Assets
B.Brand Association
C.Brand Awareness
D.Brand Loyalty
E.Perceived Quality
The most basic form of brand equity is simply being aware of the brand. Awareness is
the foundation of all other brand relationships. Since potential customers have heard of
ABC, brand awareness is achieved.
The vast majority of advertising is ___________, designed to increase purchase of a
specific offering.
A.Institutional
B.Product
C.Slice of life
D.Moral
E.Research based
The vast majority of advertising is product advertising, designed to increase purchase of
a specific offering.
JTR Recording Company plans to close down a division that makes classical music
cassette tapes. The demand for this type of recording has dwindled to the point that the
cassette division is barely at break even in terms of revenue. Mostly likely the cassette
division would be classified as a ____________.
A.Star
B.Cash cow
C.Dog
D.Problem Child
E.Top Gun
Since cassette is outdated technology and the division is not making money the cassette
division can be classified as a dog.
The marketing manager for Ned’s Bar and Grill notices that his typical customer is a
21-year-old male college student. He is using __________ to define his market.
A.Stereotyping
B.Estimation
C.Visual cues
D.Demographics
E.Instincts
Demographics can be defined as the statistical characteristics of human populations,
such as age or income, used to identify markets. Here the typical customer is
represented as a 21-year-old male college student.
A big industrial firm is interested in evaluating the potential purchase of a machine. In
order to do this, managers should look at ___________.
A.Maintenance cost for the first year of ownership alone
B.One-time purchase price
C.Total costs over the life of the machine
D.Cost plus insurance on the machine
E.Cost plus the service contract on the machine
The actual purchase price is just one consideration in determining the real cost of a
purchase. Maintenance and operating costs, repair charges, and supplies are all costs
associated with ownership.
To ensure that inventories of both raw materials and finished goods are sufficient to
meet customer demand without undue delay, firms utilize _______________.
A.Just-in-time inventory control systems
B.Materials requirement planning (MRP)
C.Marketing information system
D.Intensive distribution
E.Vertical integration
A just-in-time inventory control system’s goal is to balance the double-edge sword of
potentially having too many goods on hand and creating unnecessary warehousing
costs, with the chance of having so little inventory in stock that stock-outs occur
requiring expensive rush production and express delivery situations.
Heather runs Cute Cakes, a gourmet cupcake bakery. In order to set prices for her
cupcakes, Heather looks at the costs of making each cupcake and then adds an
additional amount on top of that to arrive at her price. Heather is demonstrating
____________.
A.Cost plus pricing
B.Price war
C.Markup on sales price
D.Average-cost pricing
E.Target return pricing
Cost-plus pricing builds a price by adding a standardized markup on top of costs for an
offering. Since Heather is using the same approach to pricing, she is demonstrating cost
plus pricing.
Marketers are concerned about selective retention. In particular, they want consumers to
transfer information from _____ to _______.
A.Advertising, promotion
B.Awareness, recall
C.Person, person
D.Short-term memory, long-term memory
E.Simple to complex
Short-term memory is what is being recalled at the present while long-term memory is
enduring storage, which can remain with the individual for years and years. The
objective is to move the information into long-term memory so that the consumer needs
a product, he or she will recall the advertiser’s goods.
The owner of Tiny Tots Baby Food is redesigning the package for her product. She is
trying to select a color that is both comforting and natural as well as a shape that is
distinctive so that her brand is easy to identify and distinguishable from its main
competitors. She is focusing on the ______ element of effective packaging.
A.Usage Promotion
B.Aesthetic
C.Legal requirements
D.Harmony
E.Protection
Color plays a significant role in package design. A package has very little time to
connect with the customer at the point of purchase, so designs that are appropriate,
interesting, and persuasive to the target market are critical. Since the owner is
concerned with the color and shape of the package, her focus is on the aesthetic element
of packaging.
Companies that focus on transactions most likely practice _______.
A.Mass marketing
B.Target marketing
C.One-to-one marketing
D.Customer marketing
E.Consumer marketing
Companies that focus on transactions most likely practice mass marketing. In mass
marketing, consumers are the perennial subjects of sophisticated marketing research in
the form of surveys, focus groups, and purchase diaries.