Competitive marketing intelligence is the systematic collection and analysis of publicly
available information about consumers, competitors, and developments in the
marketplace.
“At Trader Joe’s, our mission is to provide all our customers the best food and beverage
values to be found anywhere, and the information to make informed buying decisions.”
This is a product-oriented business definition.
An obvious disadvantage of using CRM is its ineffectiveness in pinpointing high-value
customers.
Self-service retailers serve customers who are willing to perform their own
locate-compare-select process to save time or money.
Telemarketing has ceased to be an important tool for most B-to-B marketers owing to
the federal government’s Do Not Call Registry.
JumBo Games is in the commercialization stage. The first decision that the firm should
make while introducing the product in the market is introduction timing.
Internal information is almost always sufficient for making marketing decisions.
GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and
profit projections for some new products to find out whether they satisfy the company’s
objectives. This activity is called business product development.
Social class is based on shared value systems and common life experiences and
situations.
Continuous innovation is the best response by a company trying to protect its market
share.
A target market consists of a set of buyers who share common needs or characteristics
that the company decides to serve.
Personality is a person’s pattern of living as expressed in his or her psychographics.
Like retailers, wholesalers must decide on product and service assortments, prices,
promotion, and place.
In contrast to distribution centers, storage warehouses are designed to move goods
rather than just house them.
Target return pricing uses the concept of a(n) ________, which shows the total cost and
total revenue expected at different sales volume levels.
A) BCG matrix
B) break-even chart
C) SWOT analysis
D) demand curve
E) experience curve
Foreign businesses in China appear to receive unusually close scrutiny and harsh
treatment from Chinese authorities, aimed at boosting the fortunes of local competitors.
This is an example of a(n) ________.
A) nontariff trade barrier
B) tariff
C) boycott
D) exchange control
E) quota
Which of the following product mix pricing strategies involves pricing
additional/accessory products sold along with the main product?
A) inclusive product pricing
B) exclusive product pricing
C) by-product pricing
D) product bundle pricing
E) optional product pricing
A ________ consists of the activities an individual is expected to perform according to
the people around him/her.
A) motive
B) role
C) lifestyle
D) life cycle
E) perception
Gilron Holidays runs a premium membership club which caters to customers whose
annual salary exceeds $100,000. Members of this club are offered seasonal discounts on
select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n)
________ segmentation approach.
A) gender
B) income
C) occasion
D) benefit
E) geographic
Which of the following is the aim of the product concept?
A) improve the marketing of a firm’s best products
B) market only those products with high customer appeal
C) focus on the target market and make products that meet those customers’ demands
D) focus on making continuous product improvements
E) ensure that product promotion has the highest priority
Which of the following groups do marketers involve for the process of concept testing
new products?
A) suppliers
B) employees
C) target consumers
D) manufacturers
E) competitors
Rob has been asked by his manager to identify a group of potential customers who
would respond in a similar way to a given set of marketing efforts. In this instance, Rob
has been asked to identify a ________.
A) new product
B) market segment
C) marketing intermediary
D) brand
E) product line
Springfield, a convenience store, has recently begun to redesign and restock its stores to
offer a more upscale environment with products such as house wines and fresh foods.
This information indicates that Springfield has most likely changed its ________.
A) positioning
B) price strategy
C) service level
D) corporate identity
E) organizational structure
Luke Price, a manager in an automobile factory, wanted his subordinates to rate their
satisfaction about the new pistons that arrived last month. He asked them to rate the
product based on strength and ease of handling. Which of the following is evident here?
A) order-routine specifications
B) supplier selection
C) performance review
D) general needs description
E) proposal solicitation
Which of the following best explains why companies are adopting the team selling
approach to service large, complex accounts?
A) Products have become too complicated for one salesperson to handle a large
company’s needs.
B) Customers prefer dealing with many salespeople rather than one sales representative.
C) Job rotation, an integral part of team selling, keeps workers motivated and boosts
their morale.
D) Team selling facilitates the evaluation of individual contributions.
E) With team selling, companies are not required to train the outside sales force any
longer.
Tony Pool Chemical Co. purchased 144 buckets of chlorine tablets over the Internet
from Chemical Inc. Then Chemical Inc. placed the order with the manufacturer, and the
manufacturer then transported the tablets directly to the Tony Pool store. In this case,
Chemical Inc. is an example of a ________.
A) drop shipper
B) truck jobber
C) rack jobber
D) full-service wholesaler
E) cash-and-carry wholesaler
Explain why a public relations campaign can be a more cost-effective option for
corporations than an advertising campaign.
What are the two advantages of an innovation management system for developing new
products? Provide four strategies for a company to use to establish a successful system.
Explain Maslow’s hierarchy of needs.
Why do ad expenditures remain high in the growth stage of the PLC?
A consumer’s behavior is influenced by social factors, such as the consumer’s small
groups, family, and social roles and status. Explain the differences among these social
factors.
Explain the concept of price ceiling.
Why is a firm’s organizational climate an important part of building a successful sales
staff?
Give an example of testimonial evidence.