Retailers like Costco and Walmart are considered to be members of the market.
a. reseller
b. customer
c. producer
d. institutional
e. services
Scenario 15.2
Use the following to answer the questions.
The manufacturers of Whizz, a new laundry detergent, are developing their promotional
plan for the first year. They know they want to use an integrated communications
strategy and are considering the use of advertising through
TV and magazines, coupons, public relations, sales promotion, and viral marketing.
They are not sure when to use each of these methods however, and have asked for your
advice.
Refer to Scenario 15.2. The makers of Whizz have decided to go to several different
colleges and have a contest for the dirtiest shirt. While at the colleges, they will set up
several washing machines near the campus bookstore, demonstrating the power of
Whizz to get these dirty shirts clean. Each contestant in the dirtiest shirt contest will
receive a coupon for a free bottle of Whizz. The winner of the contest will receive a $50
gift card for the college bookstore. This method of promotion is an example of .
a. viral advertising
b. sales promotion
c. embedded marketing
d. product placement
e. direct marketing
The best advice for recruiting and selecting salespeople for one’s organization would be
to:
a. follow a clear set of generally-accepted job characteristics when determining an
applicant’s qualifications.
b. keep the expensive stages near the beginning of the recruiting process.
c. find out how long the applicant plans to stay with the company.
d. make recruitment a continuous activity aimed at seeking out the best applicants.
e. recruit primarily from educational institutions.
In the context of the strategic planning process, corporate strategic planners focus on
dimensions such as competition, diversification, differentiation, environmental focus,
and interrelationships among business units.
a. True
b. False
The three purposes for which individuals, organizations, or groups can use products in
order for it to be considered a business market are:
a. use in daily operations, end consumption, and resale.
b. direct use in producing other products, company travel, and end consumption.
c. resale, use in daily operations, and direct use in producing other products.
d. governmental and institutional purposes, and for analyzing target markets.
e. making other products, selling directly to consumers, making component parts.
Venture team members usually come from the same functional area within a firm.
a. True
b. False
Maslow’s hierarchy of needs refers to the five levels of needs that humans seek to
satisfy, from most to least important. These needs, in order from highest level to basic
are:
a. psychological, physiological, safety, social, and esteem.
b. physiological, safety, esteem, social, and self-actualization.
c. physiological, psychological, safety, social, and esteem.
d. physiological, safety, social, esteem, and self-actualization.
e. physiological, esteem, safety, self-actualization, and psychological.
Goods can be defined in terms of their physical attributes but services cannot because
they are intangible.
a. True
b. False
Information provided by a single firm on household demographics, consumer
purchases, television viewing behavior, and responses to promotions is known as a data.
a. single-source
b. census
c. consumer demographic
d. multi-point
e. single-point
Consideration of the firm’s overall objectives usually does not influence the final
selection of a target market segment.
a. True
b. False
The Office Place is an office supplies company which has adjusted its price levels so
that it can increase its sales volume to match its expenses. The Office Place is most
likely employing a objective.
a. market share
b. cash flow
c. return on investment
d. survival
e. profit
When evaluating relevant market segments, cost estimates are important to determine if
an organization entering a particular segment can operate at costs equal to or below
those of competitors.
a. True
b. False
Scenario 7.2
Use the following scenario to answer the questions.
Accura Brake Company is a supplier of brake components to the manufacturers of lawn
tractors and 4-wheel ATVs. It also sells its products to independent repair centers,
dealers, and other wholesalers in the northeast and southern states of the USA. Accura
Brake has done research on the demand for lawn tractors and found that most
manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also
shows that most of the dealers who sell directly to individual consumers are in the
Midwestern states, while dealers who sell to small business landscaping companies tend
to be located in the northeastern states. Thus, the board of directors of Accura Brake
Company is considering expansion of its distribution to markets in the Midwest. When
Accura Brake’s sales team calls on tractor manufacturing companies, the meetings
typically include the engineers who design the tractors. In this situation, the engineers
would most likely be considered to be as a part of the buying center.
a. gatekeepers
b. influencers
c. users
d. buyers
e. controllers