________ marketing is more suited for products that vary in design.
A) Mass
B) Local
C) Direct
D) Differentiated
E) Individual
A gym equipment manufacturer encourages customers to become members of the firm’s
Web site. Membership provides customers with exercise tips as well as discounts on
gym equipment and workout apparel. This is an example of ________.
A) a frequency marketing program
B) a basic customer relationship
C) a club marketing program
D) the selling concept
E) consumer-generated marketing
The relationship between the consumer’s expectations and the product’s ________
determines whether the buyer is satisfied or dissatisfied with a purchase.
A) perceived performance
B) brand personality
C) market reach
D) consumer market
E) market share
Which of the following is most likely a risk associated with experience-curve pricing?
A) High-volume production facilities are unable to meet demand.
B) New technology often leads to productivity problems.
C) Demand for the product fluctuates unpredictably.
D) Consumers tend to prefer new brands over established ones.
E) Aggressive pricing often gives a product a cheap image.
Target return pricing is a variation of which of the following cost-oriented pricing
approaches?
A) cost-plus pricing
B) break-even pricing
C) markup pricing
D) value-based pricing
E) fixed cost pricing
Which of the following strategies would a company most likely use to increase
customer satisfaction?
A) decreasing the variety of offered services
B) divesting
C) lowering prices
D) “firing” unprofitable customers
E) limiting customer experiences with a brand
Whereas the mass marketer achieves ________, the nicher achieves ________.
A) low margins; low volume
B) low volume; high margins
C) high volume; high margins
D) high volume; low margins
E) high margins; high volume
Product placement in television programs and movies is an example of ________.
A) branded entertainment
B) advertainment
C) direct marketing
D) buzz marketing
E) sales promotion
A product’s ________ identifies the product or brand, describes several things about the
product, and promotes the brand.
A) line extension
B) portfolio
C) label
D) design
E) feature
Selecting which segments of a population to serve is called ________.
A) market segmentation
B) positioning
C) customization
D) target marketing
E) differentiation
From a(n) ________ point of view, Pepsi might see its competition as Coca-Cola, Dr
Pepper, 7UP, and the makers of other soft drink brands. From a(n) ________ point of
view, however, the customer really wants “thirst quenching.”
A) market; industry
B) market; consumer
C) industry; competitive
D) industry; market
E) company’s; consumer’s
In advertising, “puffery” is a term that refers to ________.
A) a straightforward promotional message
B) innocent exaggeration for effect
C) hidden advertising messages to consumers
D) subliminal appeals to consumers
E) value-added promotions
Which of the following is true of a pure competitive market?
A) A single seller has a major effect on the current and future market price.
B) Companies spend significantly on marketing research and product development.
C) The advertising budget of companies is usually huge.
D) Sellers try to develop differentiated offers for different customer segments.
E) Sellers spend little time on marketing strategy.
________ occurs when a seller states price savings that are not actually available to
consumers.
A) Comparative pricing
B) Scanner fraud
C) Deceptive pricing
D) Market skimming
E) Price collusion
BRIC countries are examples of ________ economies.
A) raw material exporting
B) industrializing
C) subsistence
D) industrial
E) totalitarian
A strategy of exclusive dealing is most likely considered legal if ________.
A) the industry is newly developed
B) both parties have large territories
C) competition is not substantially lessened
D) the dealer agrees to promote the competitor’s products
E) the dealer receives a steady source of supply and support
Primary data consist of ________.
A) data that does not age
B) data obtained from the public domain
C) information collected for the specific purpose at hand
D) information that already exists somewhere, having been collected for another
purpose
E) information that is the least expensive and the easiest to obtain
Which of the following statements is true of the production concept?
A) It considers customer focus and value to be the paths to sales and profits.
B) It follows the customer-centered sense-and-respond philosophy.
C) It takes an outside-in perspective.
D) It calls for sustainable marketing.
E) It leads to companies focusing too narrowly on their own operations.
A country with a(n) ________ has rich markets for many different kinds of goods.
A) industrial economy
B) gift economy
C) barter economy
D) subsistence economy
E) natural economy
According to the service profit chain, superior internal service quality results in
________.
A) lesser service value
B) increased word-of-mouth sales
C) reduced after-sale services
D) more satisfied, loyal, and hardworking employees
E) negative brand equity of newly launched products
Heart of Midnight sells blue orchids to major florists around the world. Their key
requirement is speed. Which of the following modes of transport will help them?
A) rail transport
B) air carriers
C) trucks
D) piggybacks
E) water transport
Underpriced products ________.
A) produce less revenue than they would if they were priced at the level of perceived
value
B) sell poorly in the global marketplace
C) produce more revenue than they would if they were priced at the level of perceived
value
D) mostly offer higher value than those with a high markup price
E) are characterized by rapidly declining demand
During which of the following stages of the business buying process is a buyer most
likely to conduct a value analysis by carefully studying components to determine if they
can be redesigned, standardized, or made less expensively?
A) proposal solicitation
B) general need description
C) order-routine specification
D) performance review
E) product specification
A marketer has chosen a multiple-city test market. What can be concluded from this
choice of a multiple-city test market?
Describe the main objectives of informative advertising.
Briefly describe the eight steps in the business buying process.
Identify and describe the three product strategies a company entering a foreign market
can use.
Describe the continuity and pulsing advertisement schedules.
Discuss the first two levels of the environmental sustainability portfolio that pay off in
the short term.
What are the major trends in today’s natural environment? How do these trends affect
companies?
Why should mission statements be market oriented instead of product or technology
oriented?
What are the major characteristics of government markets?