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Effectively communicating a product's differential advantages is at the heart of
positioning strategy, and exposure to these elements spurs the customer to develop
perceptions of value and a subsequent understanding of the value proposition.
Often, channel members adopt an approach of utilizing their unique competencies to
influence others in the channel.
The essential benefit is the fundamental need met by the product.
The issue of corporate identity and its impact on customer attitudes and responses
toward product offerings is no longer relevant in today's marketplace.
Internal marketing is the application of marketing concepts and strategies inside an
organization.
Demographics is defined by the National Heritage Society as "the characteristics of
human populations and population segments, especially when used to identify
consumer markets."
It is best for a company looking for or maintaining a strategic relationship with a client
if it can get its sales team involved with the creation of an RFP with the client.
Linda imports fine art paintings and photographs that she sells to hotels. When the
dollar is weak against foreign currencies, she struggles to cover her costs. Business has
increased 400% in the last five years. With additional resources, she believes she can
expand into the profitable hospital and senior assisted living housing markets.
According to the BGC matrix, Linda's business is a dog.
Internal factors include personal characteristics and psychological attributes.
Practicing marketers pitch marketing as an investment, not an expense, so using
marketing metrics is important.
Service failure, when properly handled through service recovery, does not necessarily
impact customer satisfaction.
Since there are so many other companies that operate in the food service industry, the
marketing manager of Gourmet Dining pays detailed attention to what other restaurants
that offer similar meals, prices, and services are doing. This focus is based on the
_________ part of external forces that affect marketing decisions.
A. Demographic
B. Competitive
C. Political/legal
D. Technological
E. Economic
Using scientific evidence in a comparative ad is an example of
_______________________.
A. Fantasy appeal
B. Endorsement appeal
C. Humor appeal
D. Research-based appeal
E. Slice of life appeal
_________, which are also called functional discounts, provide an incentive to a
channel member for performing some function in the channel that benefits the seller.
Examples include stocking a seller's product or performing a service related to that
product, such as installation or repair, within the channel.
A. Cash discounts
B. Quantity discounts
C. Trade discounts
D. Seasonal discounts
E. Promotional allowances
Charlotte, the international sales manager at a fashion house, is concerned that the euro
is stronger than the U.S. dollar. This would be identified in the _______ section of a
global research report.
A. Economic
B. Cultural, societal
C. Business environment
D. Political, legal
E. History, geography
Marriott has branded its entire family of accommodations based on different value
propositions, supported by clearly delineated pricing strategies. Its offerings include
Ritz-Carlton and JW Marriott for the most discriminating patron, Marriott and
Renaissance at the next level of full service, and an array of differentially positioned
brands such Courtyard and Residence Inn. This is an example where _____ can occur at
a level much broader in scope than individual products.
A. Captive pricing
B. Auction pricing
C. Price lining
D. Reference pricing
E. Variable pricing
_________ is not an advantage to franchising as a market entry strategy.
A. The franchisee has local market knowledge
B. Products have no need for adaptation
C. Local management has expertise
D. Quality control is at the point of customer contact
E. Economies of scale exist
A market research firm is collecting data for a client that sells cold weather apparel. The
client is interested in potentially expanding to the Aleutian Islands. The research firm
has written a survey for a group of English-speaking target markets and wants to
convert it to the Inuit language. However, the firm is not aware that the Inuit language
has many different words that mean 'snow" and it uses the wrong word in several
questions, negatively impacting the responses. This shows the _______ problem that
can occur when collecting primary data in global markets.
A. Unwillingness to respond
B. Limited access
C. Unreliable sampling procedures
D. Inaccurate language translation
E. Insufficient comprehension
Mike Myers is the production manager in a company that makes components for the
automobile industry. He has been concerned about the age of the equipment and decides
to do a study to evaluate the time and money lost due to equipment failure. He decides
to bring his research to the monthly board meeting. In this way Mike is playing the role
of ___________ in the buying process.
A. Gatekeeper
B. Initiator
C. User
D. Decider
E. None of these
At the action stage, ________ is(are) the least appropriate promotional form(s).
A. Sales promotion
B. Public relations
C. Personal selling
D. Advertising
E. Direct marketing and interactive marketing
_____________ perform a variety of physical distribution, transaction and
communication, and facilitating functions that make exchange possible.
A. Channel distributions
B. Merchant intermediaries
C. Agent intermediaries
D. Direct channels
E. Indirect channels
__________ is useful in comparing the relative efficiency of different advertising
opportunities or media and in evaluating the costs of campaigns.
A. CPR-cost per repetition
B. CPM-cost per thousand
C. CPQ-cost per quantity bought
D. CPS-cost per solicitation
E. None of these
Sometimes customers can tell if they received good service. For example, vacations,
haircuts, and restaurants all have _________ attributes that allow customers to decide
whether they will repeat the purchase another time.
A. Purchasable
B. Simultaneous
C. Focused
D. Experiential
E. All of these
