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For most marketers, customer relationship management is exclusively a matter of
customer data management.
Marketing researchers can conduct their own searches of secondary data sources by
using mail questionnaires and interviewing individuals.
Blair Housewares wants to add new products to its existing line of products. Managers
are correct in believing that the purpose of idea generation is to create a few ideas, and
the purpose of succeeding stages is to increase that number.
A break-even chart shows the total cost and total revenue expected at various sales
volume levels.
Search advertisers buy search terms from the search site and pay whenever the search
terms come up in the results of a consumer's search.
Although products that remain in the maturity stage of the PLC seem unchanged, the
most successful ones actually evolve to meet changing consumer needs.
When using product bundle pricing, sellers combine several of their products and offer
the bundle at an increased price for increased profit.
Business demand ultimately derives from the demand for consumer goods.
Service companies can differentiate their service delivery by having more able and
reliable customer-contact people.
Salespeople do not represent customers to the company.
Horizontal conflicts are conflicts between different levels of the same channel.
A clear mission statement acts as an "invisible hand" that guides people in the
organization.
Constantly reduced prices can erode a brand's value in the eyes of customers.
In the business buying process, the buyer and seller are relatively less dependent on
each other.
Business markets buy goods and services for further processing or for use in their
production processes.
Service inseparability means that the quality of services depends on who provides them,
as well as when, where, and how they are provided.
The simplest pricing method is cost-plus pricing, which involves adding a standard
markup to the cost of the product.
The single most important demographic trend in the United States that marketers should
understand is the changing family structure of the population.
Because of strict consumer privacy regulations, invasion of privacy is no longer a
concern for the direct marketing industry.
Product costs set the ceiling for prices.
A company that focuses on customer developments in designing its marketing strategies
and on delivering superior value to its target customers is a ________ company.
A) market-centered
B) cost-centered
C) competitor-centered
D) customer-centered
E) product-centered
Tomorrow's leading companies will succeed by seeking out unoccupied positions in
uncontested market spaces. Such strategic moves, termed ________, create powerful
leaps in value for both the firm and its buyers, creating new demand for new products.
A) customer lifetime value
B) customer equity
C) value innovation
D) market segmentation
E) customer intimacy
Which of the following is true with regard to store brands?
A) Store brands have been declining in popularity and strength for more than two
decades.
B) Store brands are also known as national brands.
C) Store brands are created and owned by resellers of a product or service.
D) Increasing consumer distrust toward store brands has led to a store-brand slump.
E) Store brands are growing far slower than manufacturer's brands.
In routine buying situations, which of the following members of the buying center has
formal or informal power to select or approve the final suppliers?
A) users
B) influencers
C) gatekeepers
D) deciders
E) buyers
The EU helped unify Europe by adopting the euro as a common currency. Adopting a
common currency has caused problems as stronger economic countries have had to
prop up all the following European countries EXCEPT ________.
A) Cyprus
B) Portugal
C) France
D) Greece
E) United States
Which of the following is true of product line pricing?
A) The price steps take cost differences between products in the line into account.
B) The pricing strategy cannot be used by companies in developed countries.
C) The price steps do not account for the prices of similar products from competitors.
D) The pricing strategy involves overpricing products so that they appeal to the elite.
E) The customer's perception of the value of different features is considered irrelevant.
Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a
particular product will increase exponentially if there is a $5 drop in the selling price of
the product. Akira is involved in ________ research.
A) exploratory
B) descriptive
C) causal
D) constructive
E) ethnographic
________ include displays and demonstrations that take place at the point of sale.
A) Rebates
B) Price packs
C) Premiums
D) POP promotions
E) Samples
Customer relationship management (CRM) helps ________.
A) firms monitor and minimize employee turnover
B) customers manage information about different sellers in the market
C) firms manage customer touch points to maximize customer loyalty
D) customers locate the best deals in the market
E) firms create artificial demand in the market
Critics claim that companies in the ________ industries introduce planned streams of
new products that make older models obsolete, a form of planned obsolescence that
harms consumers.
A) car and truck
B) housing and construction
C) food and beverage
D) consumer electronics
E) financial and entertainment
Product mix ________ refers to the number of versions offered for each product in the
line.
A) length
B) depth
C) height
D) width
E) consistency
Which of the following is true about the concentrated marketing strategy?
A) Companies that rely on a few segments for all of their business will suffer if a
segment turns sour.
B) Concentrated marketing is not profitable for most firms.
C) Niche marketing involves few risks for most firms.
D) Concentrated marketing involves going after a small share of a large market.
E) The Internet has limited the use and benefits of niche marketing.
The network made up of the company, its suppliers, its distributors, and, ultimately, its
customers who partner with each other to improve the performance of the entire system
is known as the ________.
A) business portfolio
B) supply chain
C) marketing mix
D) value delivery network
E) internal value chain
Generally, the consumer's purchase decision will be to buy the most preferred brand,
but two factors can come between the purchase intention and the purchase decision.
Which of the following is one of these factors?
A) economic risks
B) attitudes of others
C) cognitive dissonance
D) alternative evaluation
E) buyer's remorse
Maria Ramirez is conducting research to determine consumers' personal grooming
habits. Because of the personal nature of many of the survey questions, Maria wants to
select the contact method that is most likely to encourage respondents to answer
honestly and that will allow her to easily collect large amounts of data. Which of the
following is best suited to meet Maria's requirements?
A) mail questionnaires
B) telephone interviews
C) individual interviews
D) focus group interviews
E) immersion group discussions
Compare the practices of price fixing and predatory pricing. Explain why each is
prohibited by law.
Why are more companies using team selling? What are its pros and cons?
Define customer relationship management and explain its associated tools and levels of
relationships.
Why is niching profitable?
Explain Maslow's hierarchy of needs.
Why and how do companies use workload approach?
How does marketing through online social networks differ from more traditional
marketing?
Explain how marketers and marketing critics disagree about the psychological value of
advertising.
Although many retail stores are independently owned, others band together under some
form of corporate or contractual organization. Describe the four kinds of corporate or
contractual organizations.
