A company’s customer value delivery network does not include members external to the
organization.
Off-price retailers can be found in all areas, from food, clothing, and electronics to
no-frills banking and discount brokerages.
Early adopters are opinion leaders in their communities and adopt new ideas early but
carefully.
Global branding and standardization result in reduced costs from economies of scale.
LaGrange, a floral boutique, segments its customers into three groups: those who
frequently use their services, those who have never used their services, and potential
users. This is an example of usage-rate segmentation.
Marketing research is the systematic design, collection, analysis, and reporting of data
directly relevant to a specific marketing situation facing an organization.
Reminder advertising is ideal for maintaining customer relationships with mature
products.
The Consumer Product Safety Act of 1972 established the Consumer Product Safety
Commission, which has the authority to ban or seize potentially harmful products and
set severe penalties for violation of the law.
Merchant wholesalers are the largest single group of wholesalers, accounting for
roughly 50 percent of all wholesaling.
Full-line forcing is a type of intensive distribution.
Customers of a brand are internal sources of new product ideas for the brand.
In the new product development process, the purpose of idea generation is to create a
large number of ideas, and the purpose of the stages following it is to reduce that
number.
The questionnaire is the most common research instrument.
Cian, an automobile manufacturer, offers a new car model with features comparable to
that of another popular brand. However, the Cian model is priced lower than its
competitor and includes a longer warranty. Cian is most likely following a
more-for-the-same strategy.
Unlike other car rental agencies that are based in airports to serve travelers,
Wheelz-On-Rent has a network of neighborhood offices. The firm strives to serve
people who need car rentals for reasons other than vacation, such as when their own
cars are being repaired. Wheelz-On-Rent caters to a small share of the large car rental
market. From this description, it can be concluded that Wheelz-On-Rent most likely
practices ________.
A) undifferentiated marketing
B) multi-segmented marketing
C) individual marketing
D) local marketing
E) concentrated marketing
Which of the following includes the target segment of a product, the category to which
the product belongs, and the product’s point of difference from other members in the
category?
A) mission statement
B) vision statement
C) profit statement
D) positioning statement
E) inventory statement
An ethical concern about companies that use online marketing techniques and involve
consumer information in the process is that these companies ________.
A) fail to provide value-priced products for online customers
B) track, share, and misuse browsing details of unknowing customers
C) provide too many alternative products online which confuse customers
D) rarely follow the marketing orientation when devising promotional offers online
E) fail to reach their target customers through online marketing
________ refers to a channel stretching from raw materials to components to final
products that are carried to final buyers.
A) A supply chain
B) A marketing channel
C) A market segment
D) A demand chain
E) A marketing-mix channel
A(n) ________ reflects the general esteem given to the different roles of a person by
society.
A) motive
B) attitude
C) belief
D) tradition
E) status
________ is the act of obtaining a desired object from someone by offering something
in return.
A) Targeting
B) Segmentation
C) Differentiation
D) Exchange
E) Positioning
________ are tradition-bound, suspicious of changes, and adopt an innovation only
when it has become something of a tradition itself.
A) Latent innovators
B) Early adopters
C) Early mainstream adopters
D) Lagging adopters
E) Late mainstream adopters
________ ventures consist of one company collaborating with foreign investors to
create a local business in which they share possession and control.
A) Licensing
B) Direct investment
C) Contract manufacturing
D) Management contracting
E) Joint ownership
Radox, a luxury watch brand, identifies a market segment that is willing to pay
premium prices for its watches, and Radox managers select an ideal selling price.
Managers then determine the costs to create watches that meet the ideal selling price.
The company’s pricing approach is referred to as ________.
A) mass production
B) cost-plus pricing
C) target costing
D) value-added pricing
E) target return pricing
Specialty stores are characterized by ________.
A) the sale of convenience and staple items
B) narrow product lines with deep assortments
C) a wide range of products and categories
D) low prices on a wide range of goods
E) routinely purchased food products and services
A product mix is also known as a product ________.
A) taxonomy
B) portfolio
C) aggregation
D) cluster
E) assemblage
Which category of industrial products includes repair and maintenance?
A) supplies and services
B) capital items
C) raw materials
D) materials and parts
E) specialty products
Selective distribution is a strategy in which ________.
A) more than one but fewer than all willing intermediaries are used by a seller
B) products are stocked in as many outlets as possible by a seller
C) products are not sold through intermediaries but directly to customers from
producers
D) all willing intermediaries are given rights to sell a product
E) common household goods are preferred over luxury products by intermediaries
In a marketer’s macroenvironment, the ________ environment consists of laws,
government agencies, and pressure groups that influence or limit various organizations
and individuals in a given society.
A) political
B) cultural
C) technological
D) natural
E) internal
Sales promotion tools used to persuade resellers to carry a brand, give it shelf space,
promote it in advertising, and push it to consumers are collectively called ________
promotions.
A) consumer
B) point-of-purchase
C) sales-force
D) trade
E) business
Strawberry Fizz is a renowned bottled juice manufacturer in the United States. It
exports its products to Mexico, has a joint venture in Hong Kong, and owns a
subsidiary in South Africa. The company has organized an export department to
manage its international marketing activities. Do you think it has made the right
decision? Justify your answer.
In a ________, producers, wholesalers, and retailers act as a unified system. In such a
structure, one channel member owns the others, has contracts with them, or has so
much power that they all cooperate.
A) direct marketing system
B) horizontal distribution channel
C) lateral marketing system
D) conventional distribution channel
E) vertical marketing system
Product mix length refers to the ________.
A) number of versions offered for each product in the line
B) ways in which the various product lines are related
C) number of different product lines the company carries
D) total number of items a company carries within its product lines
E) total market share captured by the entire product line
Kevin Pinker is a freelance computer programmer who writes computer algorithms for
companies such as SoftStar and BlueHill. SoftStar and BlueHill use these algorithms to
make specific programs based on online market research. These programs are then sold
to the online retailer, Abundon, which then sells them to individual consumers and
businesses. Which of the following is a marketing intermediary in this chain?
A) SoftStar
B) BlueHill
C) the consumer
D) Abundon
E) Kevin Pinker
________ marketing is defined as meeting the present needs of consumers and
businesses while also preserving or enhancing the ability of future generations to meet
their needs.
A) Sustainable
B) Customer driving
C) Mass
D) Customer-driven
E) Differential
Hollingsworth is a retail company that is planning to release a new line of luxury
personal care products. Its managers are now reviewing the sales history of similar
products and conducting marketing surveys to estimate minimum and maximum sales
for the product. In which of the following stages of the new product development
process is the product?
A) test marketing
B) idea screening
C) business analysis
D) marketing strategy development
E) concept testing
Which generational group controls the highest percentage of disposable income in the
United States?
A) baby boomer
B) Generation X
C) Millennial
D) Generation Z
E) Lost Generation
Brand differences are worth promoting if they satisfy certain criteria. What are these
criteria?
Describe the various categories of consumer products.
Yuran Inc., a designer and seller of lifestyle products and inexpensive furniture, has
decided to engage in brand integration to advertise its products. The decision coincides
with Yuran’s plan to release a new line of coffee tables that fold easily and do not take
up much space. What are the different ways in which Yuran can achieve brand
integration?
Identify the social costs of increased automobile ownership. Describe two options for
restoring the balance between private and public goods. Give specific examples.
Compare and contrast local and individual marketing.
Discuss the opportunities and challenges that new communication technologies have
created for marketers.
Differentiate between the BCG matrix and the product/market expansion grid.