Environmental sustainability concerns have declined steadily over the past three
decades.
The uniform-delivered pricing strategy means that the goods sold are placed free on
board a carrier with the customer paying the freight from the factory to the destination.
Disintermediation occurs when radically new types of channel intermediaries displace
traditional ones.
The adoption process for new products refers to the mental process through which an
individual passes from first learning about an innovation to final adoption.
Although television advertising has high absolute costs, its cost per exposure is
relatively low.
A company’s product mix has four important dimensions: width, length, depth, and
consistency.
Subcultures include racial groups alone.
Direct marketing includes catalogs, direct-response TV, kiosks, the Internet, and mobile
marketing.
When a manufacturer seeks a market for by-products and accepts a price that covers
more than the cost of storing and delivering those by-products, the manufacturer is able
to reduce the main product’s price to make it more competitive.
Buyers are more price sensitive when the product they are buying is unique or when it
is high in quality, prestige, or exclusiveness.
Customer relationship management (CRM) helps manage detailed information about
individual customers and maximize customer loyalty.
Sales force management refers to analyzing, planning, implementing, and controlling
sales force activities.
Market segmentation can be best described as the process of ________.
A) assigning specific human attributes to a given brand
B) dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors, and who might require separate products or marketing
programs
C) evaluating each market segment’s attractiveness and selecting one or more segments
to enter
D) turning marketing plans into marketing actions to accomplish strategic marketing
objectives
E) maintaining a strategic fit between organizational goals and changing marketing
opportunities
Which of the following is true of price changes?
A) Overdemand leads to companies initiating price cuts.
B) Changes in price do not affect a brand’s image.
C) Customer reaction to price changes is not as important as competitor reaction.
D) A drop in price can adversely affect how consumers view the brand.
E) Excess capacity is a factor which causes increases in price.
Because of ________, a company cannot make its product illegally similar to a
competitor’s already established product.
A) anti-monopoly laws
B) patent laws
C) the Consumer Product Safety Act
D) product warranties
E) product liability
Consumers are less likely to use price to judge the quality of a product when they
________.
A) have never tried the product before
B) have little knowledge of the brand
C) have experience with the product
D) are shopping for luxury items
E) cannot physically examine the product
Companies that operate large marketing departments, conduct expensive marketing
research, spell out elaborate competitive strategies, and spend huge sums on advertising
are using ________ marketing strategies.
A) informal
B) formal competitive
C) entrepreneurial
D) intrepreneurial
E) blue ocean
________ are manufacturer-owned and operated stores which offer prices as low as 50
percent below retail on a wide range of mostly surplus, discounted, or irregular items.
A) Category killers
B) Factory outlets
C) Specialty stores
D) Superstores
E) Power centers
Which of the following exemplifies a pure competitive market?
A) a market where many buyers and sellers trade over a range of prices rather than a
single market price
B) a market where a single firm controls the larger fraction of the market share
C) a market where a few powerful firms control the larger fraction of the market share
D) a market characterized by only a few large sellers
E) a market where many buyers and sellers trade in a uniform commodity
Critics argue that large marketing companies use patents and heavy promotion spending
to ________.
A) acquire smaller companies
B) bear the social costs of their operations
C) bar new companies from entering an industry
D) achieve economies of scale
E) offset cultural pollution
Which of the following questions is an example of a closed-end question?
A) Why do you think some people are more comfortable taking risks than others?
B) How can I improve my presentation skills?
C) Why do you think a single vote makes a difference?
D) Would you like to try our new ice cream flavor?
E) What is the best way to prevent weeds in a garden?
Which of the following statements is true of viral marketing?
A) Marketers have significant control over where their viral messages end up.
B) Viral marketing gives consumers online places to congregate, socialize, and
exchange views.
C) Because customers find and pass along the message, viral marketing can be very
inexpensive.
D) In viral marketing, links appear alongside search engine results on sites such as
Google and Bing.
E) Viral marketing messages are blocked by most search engines, security software, and
social networking sites.
How does loyalty status enhance a company’s understanding of its consumers?
What is an important characteristic of a good MIS?
Explain how the PLC applies differently to a product class than to a product form.
How are local retailers affected by global competition?
List four types of segmented pricing.
Briefly discuss monopolistic competition.
Define commercialization. Explain two important decisions the company must make
during this stage.
“Beyond the market and the economy, the company must consider several other factors
in its external environment when setting prices.” Explain this statement.
Many studies reveal that instead of “Americanizing” the world’s cultures, the cultural
exchange between America and other countries goes two ways. Give two examples of
how America has been influenced culturally by foreign products or services.