When a product is in the maturity stage, the company should most likely consider
________.
A) harvesting the product or market
B) modifying the product, market, or marketing mix
C) divesting the product line
D) liquidating the firm’s assets
E) dropping the product from its market offerings
Which of the following strategies involves weeding out weaker brands and focusing
marketing dollars only on brands that can achieve the number one or number two
market share positions with good growth prospects in their categories?
A) megabrand strategies
B) niche marketing strategies
C) social marketing strategies
D) co-branding
E) licensing
What is most likely a strategic benefit of the existence of competitors?
A) Competitors seldom lead to product differentiation.
B) Competitors help legitimize new technologies.
C) Competitors exclusively serve more-attractive segments.
D) Competitors fracture the target market.
E) Competitors decrease the total demand.
Which of the following consumer buying behaviors is related to conditions of
low-consumer involvement and little significant brand difference?
A) complex buying behavior
B) dissonance-reducing buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) consumer capitalism
Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national
and international distribution. If the test market results look promising, what should be
management’s next step?
A) retest the product in additional markets
B) develop a planned market rollout over time
C) liquidate its assets to gain capital and capacity
D) seek the help of a nationally known consultant
E) develop a prototype
Building and maintaining profitable customer relationships by delivering superior
customer value and satisfaction is called ________.
A) customer lifetime value
B) customer-perceived value
C) customer relationship management
D) partner relationship management
E) customer equity
________ provide the resources needed by a company to produce its goods and
services.
A) Retailers
B) Marketing services agencies
C) Resellers
D) Suppliers
E) Financial intermediaries
American Express will do almost anything to build long-term customer loyalty and to
capture customer lifetime value. Which of the following competitive marketing
strategies is being pursued by American Express?
A) consumer capitalism
B) customer equity
C) product differentiation
D) product leadership
E) customer intimacy
Herbie Inc., a firm manufacturing sandwich makers, has fixed costs of $250,000,
variable costs of $20 per unit of output, and expected unit sales of 50,000 units. What is
the unit cost of a sandwich maker manufactured by Herbie?
A) $15
B) $25
C) $30
D) $50
E) $75
Which of the following promotion tools involves building up a good corporate image
and handling unfavorable stories and events?
A) sales promotion
B) personal selling
C) direct marketing
D) public relations
E) advertising
________ refers to a market-coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer.
A) individual marketing
B) local marketing
C) niche marketing
D) undifferentiated marketing
E) segmented marketing
All of the following are disadvantages of test marketing EXCEPT that test marketing
________.
A) is typically expensive
B) can be time consuming
C) enables competitors to gain advantages
D) encourages dishonesty among participants
E) fails to guarantee product success in the market
With the help of ________ systems, consumers can avoid watching ads.
A) USB
B) CCTV
C) HDMI
D) DVR
E) XBMC
Product improvements, product modifications, and original products can all be
classified as ________.
A) blueprints
B) new products
C) prototypes
D) product extensions
E) test products
When a media planner determines whether an advertisement for diapers should be
placed in Parents magazine or Sports Illustrated, the planner is evaluating the media
vehicle’s ________.
A) profit margin
B) flexibility
C) rate of depreciation
D) audience quality
E) cost per exposure
Orion Inc. operates in many industries, including pharmaceuticals and food products.
The company’s goal is to create “abundant and affordable food for all and a healthy
environment.” This represents Orion’s ________.
A) marketing plan
B) product mix
C) business portfolio
D) marketing mix
E) mission statement