For international researchers, language is a primary obstacle.
Producers use intermediaries because they create greater efficiency in making goods
available to target
markets.
Critics of marketing view consumer interest in material things as a natural state of mind
rather than as a matter of false wants created by marketing.
Sequential product development has the advantage of not only being a team-oriented
approach, but also of being faster in bringing products to market.
Alternative evaluation is the process by which people select, organize, and interpret
information to form a meaningful picture of the world.
Industrial economies are major exporters of manufactured goods, services, and
investment funds.
A downward-sloping experience curve is indicative of a company’s rapidly increasing
production costs.
A clear mission statement acts as an “invisible hand” that guides people in the
organization.
Marketing success requires building relationships with other company departments,
suppliers, marketing intermediaries, competitors, various publics, and customers, which
combine to make up the company’s value delivery network.
Which of the following is true with regard to strategic planning?
A) At the corporate level, the company starts the strategic planning process by
determining what portfolio of businesses and products is best for the company.
B) A strategic plan deals with a company’s short-term goals.
C) Finding the game plan for long-run survival and growth is the focus of strategic
planning.
D) The strategic plan is a statement of an organization’s purpose.
E) Strategic planning involves identifying segments of consumers with identical
preferences.
A country with a(n) ________ economy consumes most of its own agricultural and
industrial outputs and offers few market opportunities.
A) industrial
B) service
C) technological
D) subsistence
E) developing
Which of the following is a price adjustment strategy?
A) product bundle pricing
B) by-product pricing
C) product line pricing
D) optional product pricing
E) discount and allowance pricing
Modern strategic planning ________.
A) exclusively consists of a company’s short-term goals
B) is decentralized
C) does not involve cross-functional teams
D) does not take the overall mission of the company into consideration
E) is highly centralized
When a company sets a high price for a new product with the intention of reducing the
price in the future, it is using the ________ pricing strategy.
A) market-skimming
B) cost-plus
C) market-segmentation
D) market-penetration
E) competitive
John has decided to buy a particular smartphone that his friend recommended. Which of
the following sources of information has most likely influenced John’s purchase
decision?
A) laggards
B) commercial sources
C) public sources
D) personal sources
E) market mavens
Which of the following is most likely true about shoppers who prefer to shop at
“lifestyle centers”?
A) They use coupons.
B) They prefer upscale stores.
C) They prefer indoor shopping locations.
D) They rarely dine out in expensive restaurants.
E) They are motivated by deals on last year’s merchandise.
Department stores such as Kohl’s and Macy’s practice high-low pricing by ________.
A) charging a constant, everyday low price
B) providing few or no temporary price discounts
C) increasing prices temporarily on select products
D) having frequent sale days for store credit-card holders
E) underpricing most consumer items
A ________ refers to the way a product is defined by consumers on important
attributes-the place the product occupies in consumers’ minds relative to competing
products.
A) core competency
B) value stream
C) value proposition
D) product position
E) product specification
Firms that serve small segments not being pursued by other firms are called ________.
A) market followers
B) market mavens
C) market challengers
D) market nichers
E) market leaders
Which of the following product mix pricing strategies involves pricing multiple
products to be sold together?
A) product line pricing
B) product bundle pricing
C) optional product pricing
D) by-product pricing
E) captive product pricing
________ involves creating a Web site, video, e-mail, mobile message, advertisement,
or other marketing event that is so infectious that customers will seek it out or pass it
along to their friends.
A) Drip marketing
B) Ambush marketing
C) Native advertising
D) Viral marketing
E) Semantic targeting
________ are two or more outlets that are commonly owned and controlled.
A) Corporate chains
B) Convenience stores
C) Off-price retailers
D) Independent off-price retailers
E) Power centers
Which of the following is true of the Millennials?
A) They are the children of baby boomers and were born between 1977 and 2000.
B) They control an estimated 80 percent of the personal wealth in the U.S.
C) They have reached their peak earning and spending years.
D) They were the first to grow up in the Internet era.
E) They are less immersed in technology than Gen Xers.
Demand for outboard motors depends on consumers purchasing fishing boats. This is
an example of ________ demand.
A) primary
B) composite
C) derived
D) latent
E) negative
The primary key to delivering customer satisfaction is to match product performance
with ________.
A) the competitor products’ performance
B) competitive prices
C) aggressive advertising
D) limited customer services
E) customer expectations
________ data in a customer database includes information regarding a customer’s
activities, interests, and opinions.
A) Demographic
B) Psychographic
C) Census
D) Geographic
E) Behavioral
John’s fascination for his grandmother’s sherbet recipes inspired him to come up with a
recipe for SherBetter, a gourmet sherbet for the American market. Which of the
following stages of the new-product development process does this exemplify?
A) idea screening
B) idea generation
C) concept testing
D) product development
E) product manufacturing
________ consists of arranging for a market offering to occupy a clear, distinctive, and
desirable place relative to competing products in the minds of target consumers.
A) Mass customization
B) Positioning
C) Segmentation
D) Differentiation
E) Targeting
________ have filled the ultra low-price, high-volume gap by buying at
less-than-regular wholesale prices and charging consumers less than retail.
A) Off-price retailers
B) Specialty stores
C) Convenience stores
D) Chain stores
E) Supercenters
Describe a strategic group. Name a few companies that belong to the same strategic
group, and discuss why they are in the same group.
How has the implementation of the National Do-Not-Call Registry changed telephone
marketing?
Explain how storing customer information in a database might better prepare car-maker
Kia in customer relationship management (CRM).
In nineteenth-century Dublin, Molly Malone sold mussels at a market while shouting to
passersby, “alive-alive-oh.” Was Molly taking an outside-in or inside-out perspective?
Explain.
Discuss the functions and goals of a competitive intelligence system.
What types of products do specialty stores carry? Give an example of a specialty store.