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Formed in 2004 and formalized in 2008, ________ makes up the largest trading block
after NAFTA and the European Union.
A) CAFTA-DR
B) FTAA
C) UNASUR
D) MCAN
E) GATT
In ________ research, the objective is to gather preliminary information that will help
define the problem and suggest hypotheses.
A) exploratory
B) statistical
C) causal
D) analytic
E) descriptive
Charlie Putnam received an e-mail promoting a new financial services institution that
offers surprisingly low mortgage rates. The e-mail simply asked customers to provide
their address, date of birth, social security number, and current mortgage information in
order to receive a free loan quote. Suspicious of the offer, Charlie researched the
company and discovered that the e-mail was a fraud. This is an example of ________.
A) cyberbullying
B) phishing
C) adware
D) spamdexing
E) viral marketing
It is most accurate to say that when customers purchase products they act on ________
as they judge values and costs.
A) objective value
B) perceived value
C) customer lifetime value
D) company image
E) society's interests
Walmart, Costco, and Southwest Airlines serve customers who want reliable,
good-quality products or services that are also reasonable and easily available. These
companies are all known for pursuing a value discipline known as ________.
A) operational excellence
B) customer intimacy
C) product differentiation
D) product leadership
E) focus
Refer to the scenario below to answer the following question.
The Attic Trunk opened in 1999 as an upscale dress shop in Forest Ridge's fashionable
shopping district, catering to a wealthy, mature clientele consisting mostly of older,
first-generation Hispanics. Many other specialty shops lined the main avenue over the
next few years. But as Forest Ridge began to attract a more price-conscious, younger,
and more demographically diverse population, the once-popular shopping district was
increasingly perceived as stodgy and snobby by the new segment of customers.
By the mid-2000s, many of these specialty shops suffered financially. Most shops
attracted only tourists who enjoyed browsing through the displays of alligator belts and
shoes, piles of scented soaps, and so on, often laughing at the ridiculously high prices.
Owners of The Attic Trunk had noticed the shifts in buying behavior of customers by
the mid-2000s. In fact, the owners had observed that the once-fashionable shopping
district in Forest Ridge no longer attracted the wealthy, mature clientele. This clientele
had been replaced with price-conscious families with children, a mix of Asian and
African Americans as well as Caucasians.
Specialty items at The Attic Trunk gradually disappeared, replaced by brand-name
apparel, fashion accessories, and jewelry. Other owners followed suit in the late 2000s,
bringing restaurants, an outdoor cafe, and a day spa to the main avenue in Forest Ridge.
Which of the following would each consumer segment attracted to The Attic Trunk
have in common with the other consumer segments?
A) habitual buying behaviors
B) self-concepts
C) AIO dimensions
D) life-cycle stages
E) aspirational groups
The main section of the marketing plan most likely presents a detailed ________
analysis of the current marketing situation.
A) breakeven
B) SBU
C) SWOT
D) regression
E) cluster
Dan has been directed to study the forces close to a company that affect its ability to
serve its customers, such as the company, suppliers, marketing intermediaries, customer
markets, competitors, and publics. In this instance, Dan has been directed to study the
________ of the company.
A) macroenvironment
B) microenvironment
C) technological environment
D) demographic environment
E) political environment
Which of the following is true with regard to value selling?
A) Value selling refers to earning business from customers by cutting down prices of
value products.
B) Value selling refers to delivering superior customer value and capturing a fair return
on that value.
C) Value selling refers to the mass production of inferior-quality goods for sale.
D) Value selling dilutes customer loyalty in the long run.
E) Value selling tarnishes the brand image of a product in the long run.
The long-run average cost (LRAC) curve indicates the ________.
A) per unit cost of output in the long run
B) projected total production costs of competitors
C) variable costs incurred by a firm over time
D) fixed costs incurred by a firm over the long term
E) number of units the market will buy in a given time period, at different prices that
might be charged
A market-coverage strategy in which a firm decides to target several market segments
and designs separate offers for each is known as ________.
A) mass marketing
B) differentiated marketing
C) concentrated marketing
D) individual marketing
E) cross-marketing
John Deere does very little promoting of its lawn mowers and garden tractors to final
consumers. Instead, John Deere's sales force works with Lowe's, Home Depot,
independent dealers, and other channel members, who in turn sell John Deere products
to final consumers. According to this information, which of the following promotion
mix strategies is being used by John Deere?
A) public relations strategy
B) direct marketing strategy
C) push strategy
D) blitz strategy
E) pull strategy
A ________ consists of a set of buyers who share common needs or characteristics that
the company decides to serve.
A) marketing channel
B) citizen-action group
C) distribution channel
D) target market
E) customer franchise
Sam has been directed to study the demographic, economic, political, and cultural
forces that affect an organization. In this instance, Sam has been directed to study the
________ of the organization.
A) macroenvironment
B) microenvironment
C) internal environment
D) marketing mix
E) marketing intermediaries
Which of the following is the first step taken in the competitive intelligence system?
A) collect published data and information from the field
B) check, interpret, and organize gathered information
C) identify the vital types of competitive information needed
D) respond to inquiries from managers about competitors
E) create a new brand image and marketing concept for the firm
Under ________, the market consists of many buyers and sellers trading in a uniform
commodity.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model
________ is a person's pattern of living as expressed in his/her psychographics, and it
includes the individual's activities, interests, and opinions.
A) Personality
B) Culture
C) Lifestyle
D) Motive
E) Social class
Which of the following is a political and legal factor that a company should consider
before deciding to enter into a new country?
A) monetary and trade regulations
B) transportation structure
C) population size and growth
D) industrial infrastructure
E) business norms and approaches
Which of the following is true with regard to the inside sales force of a company?
A) The inside sales force is invariably more attentive to customer needs than the outside
sales force.
B) Unlike the outside sales force, the inside sales force does not require training.
C) Inside sales representatives engage in face-to-face interaction with customers.
D) The inside sales force is far more knowledgeable about customer habits than are
outside salespeople.
E) Inside salespeople provide support for the outside sales force, freeing them to spend
more time selling to major accounts and finding new prospects.
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
As a result of the great success of corporate chains, many independent stores choose to
band together in either a voluntary chain or a(n) ________.
A) factory outlet
B) retailer cooperative
C) wholesale club
D) warehouse club
E) convenience cooperative
Give examples of pure tangible goods.
What is involved in pollution prevention? Give at least one example.
Explain why electronics and pharmaceuticals manufacturers use customer-driving
marketing.
How are local retailers affected by global competition?
Briefly explain why marketers need marketing research in addition to competitive
marketing intelligence.
What is the main purpose of the executive summary in a marketing plan?
Explain why the aim of customer relationship management is to create not just
customer satisfaction, but also customer delight.
What is a growth-share matrix? Discuss the BCG growth-share matrix.
Explain why a global company would need to make adjustments to a highly
standardized promotion campaign for different markets.
