Early adopters and innovators are the primary purchasers in the __________ stage of
the product life cycle.
A.Growth stage
B.Introductory stage
C.Maturations stage
D.Decline
E.Innovation
In the introductory phase, the target markets are innovators and early adopters.
Sally has seen the same ad for Fishy’s Cat food every time she turns on the television.
The commercial and its jingle used to amuse her, but now it is boring and sometimes it
annoys her. This is an example of _________.
A.A bad campaign
B.Advertising wearout
C.Overexposure
D.Marginal returns
E.Advertising response function
Customers can quickly and easily become bored with any given advertising campaign, a
concept referred to as advertising wearout.
Last year, a professional golfer made $100,000,000 from celebrity endorsements. This
example is more relevant to which of the following marketing misconception?
A.The sizzle
B.Overstating claims
C.Advertising
D.Pushy salespeople
E.Celebrities sponsor the worst products
A common misconception about marketing is that it is all about sizzle. Some aspects of
marketing are inherently fun and glitzy. But marketing is much more than that.
In the B2B market, test marketing is ________.
A.Identical to the B2C market
B.Smaller in scope and involves fewer individuals and companies
C.Larger in scope and involves more individuals and companies
D.Identical in scope to B2C market but is much more complex
E.Very difficult and generally products are launched without test marketing
In B2B test marketing, the tests are smaller in scope and involve fewer individuals and
companies.
Jos© is _______. He exhibits behavior that is considered careful, precise, and
organized.
A.An extrovert
B.Agreeable
C.Conscientious
D.Trustworthy
E.Finicky
Individuals posses certain core traits then lead to outward characteristics, which are
what people notice. Conscientiousness is a core trait which leads to exhibition of a
behavior that is considered careful, precise, and organized.
Caution is warranted in employing ________________, as it is always possible that the
quantity demanded will not match the marketing manager’s forecast.
A.Cost plus pricing
B.Price war
C.Markup on sales price
D.Average-cost pricing
E.Target return pricing
In average-cost pricing, the average cost of a single unit is determined by dividing all
costs by the total number of units. Thus, this calculation requires accurately predicting
the quantity of the product that will be demanded.
Every marketing plan includes an implementation element. These are sometimes called
_____________.
A.Strategic plans
B.Marketing programs
C.Value propositions
D.Action plans
E.Marketing channels
Action plans or programs are the common name given to implementation elements.
Action plans include details about timing, resources, responsibilities, and control.
____________assures everybody in the channel is satisfied with their “cut” of the
profits.
A.Sherman Antitrust Act
B.Horizontal price fixing
C.Robinson-Patman Act
D.Vertical price fixing
E.Federal Trade Commission
When independent members of a channel collude to establish a minimum retail price,
vertical price fixing occurs and everybody in the channel achieves his/her desired cut of
the profit.
Super-Mart decides to create its own brand of personal care products. It enters into an
agreement with a large manufacturer of this type of product, to supply them with the
products that will carry its newly formed brand’s name. This is an example of _______.
A.Family branding
B.Store Branding
C.Stand-alone branding
D.Co-branding
E.National Branding
Large retailers create a store brand to market their own products. Often contracting with
large manufacturers, retailers are able to compete directly with national brands through
lower prices.
Family life cycle segmentation factors includes all of the following EXCEPT
____________.
A.Income
B.Age
C.Marital status
D.Number of children
E.Cohabitation
Family life cycle represents a series of life stages defined by age, marital status, number
of children, and other factors such as cohabitation. Income is not generally used in the
definition of family.
____________ is/are the approach used by stores that maintain a price point somewhere
between high and deeply discounted sales prices.
A.Exclusive distribution
B.Everyday low pricing
C.High/low pricing
D.Retail positioning
E.Loyalty programs
Everyday low pricing (EDLP) is the approach used by stores that maintain a price point
somewhere between high and deeply discounted sales prices. EDLP can help build
customer loyalty because customers know they can rely on consistently low prices.
What is the difference between alpha and beta testing?
Marta, a partner of Apex Corp., a business solutions consulting firm, has a client who is
creating its first marketing plan. The client needs a marketing plan template. What
standard items would be included that Marta would give her client?
How does age segmentation limit marketers? For example, you are a college student yet
undoubtedly you have many friends from high school who did not go to college. How
are their lifestyles different from yours? What do they do in their leisure time that is
different than what you and your college friends do? What other methods of
segmentation other than age would be better to reach them?
Why should firms consider the natural world when making marketing decisions?
George overheard two men at a business conference talking about the need for
companies to be nimble these days. George does not quite understand what they meant
by nimble. How would you explain it to him?
What are the three post sales activities that must be monitored by the sales person?
Three psychological tools shape perception: Selective awareness, selective distortion
and selective retention. Explain these tools.
List the activities in the research design process and the key question each asks.
Vivienne tends to pay little attention to her competitors’ marketing practices, her
assistant Bridget has been trying to find someone to explain the importance of
understanding her competitors and has hired you. Bridget needs you to explain why
competitors’ marketing practices are important to her and how the competitors price
factors into the equation.