Marketers must increasingly consider the special needs of traditional households
because this segment of the population is growing more rapidly than nontraditional
households.
In the follow-up stage of the selling process, the salesperson asks the customer for an
order.
A market is the set of actual and potential buyers of a product or service.
Reverse logistics refers to the moving of products and materials from suppliers to the
factory.
Corporate chains are two or more outlets that are commonly owned and controlled.
If a firm moves into joint ventures and direct investments, it will eventually need to
create an export department.
In a retailer cooperative, independent retailers band together to set up a jointly owned,
central wholesale operation and conduct joint merchandising and promotion efforts.
Less-for-much-less positioning involves meeting consumers’ lower performance or
quality requirements at a much lower price.
Marketing success requires building relationships with other company departments,
suppliers, marketing intermediaries, competitors, various publics, and customers, which
combine to make up the company’s value delivery network.
Gary Hirshberg started the Stonyfield Farm yogurt company. His marketing strategy:
building a casual bond with customers using guerilla marketing. This is an example of
formulated marketing.
Advertising media costs and availability differ vastly from country to country.
Benchmarking involves comparing the firm’s products and processes to those of the
competitors to identify best practices to improve quality and performance.
Each layer of marketing intermediaries that performs some work in bringing the
product and its ownership closer to the final buyer is a channel level.
The communication effects of advertisements and ad campaigns are more difficult to
measure than the sales and profit effects.
Encoding is the process by which the receiver assigns meaning to symbols.
The international growth of many professional and business services such as
accounting, consulting, and advertising led to the globalization of the client companies
they served.
The proposed right to ________ includes the right to know the unit pricing, the
ingredients in a product, the nutritional value of foods, product freshness, and the true
benefits of a product.
A) charge any price for the product
B) be protected against questionable products
C) influence products and marketing practices in ways that will improve “quality of
life”
D) expect the product to perform as claimed
E) be well informed about a product
When the advertising objective is to build primary demand for a new product category,
________ advertising will most likely be used.
A) persuasive
B) informative
C) comparative
D) patronage
E) institutional
The greater the number of channel levels in a marketing channel, the ________.
A) less distance between producer and end-consumer
B) greater the channel complexity
C) less time it takes for products to reach end-consumers
D) greater the control producers have over the distribution of their products
E) greater the control producers have over the demand of their products
Carrie tends to purchase various brands of bath soap. She has never been loyal to a
specific brand; instead she does a lot of brand switching. Carrie exhibits ________.
A) dissonance-reducing buying behavior
B) complex buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) conspicuous consumption behavior
Why is markup pricing most likely impractical?
A) Calculating costs is complicated due to fluctuations.
B) By tying the price to cost, sellers oversimplify pricing.
C) When all firms in the industry use this pricing method, prices tend to be similar.
D) The method ignores demand and competitor prices.
E) With a standard markup, consumers know when they are being overcharged.
Observation is best suited for ________ research.
A) exploratory
B) constructive
C) experimental
D) descriptive
E) survey
Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions,
and districts. Ravenshaw Corp. is most likely an example of a ________.
A) geographic organization
B) product organization
C) functional organization
D) niche marketer
E) mass marketer
Marketing control involves four steps including all the following EXCEPT ________.
A) setting specific marketing goals
B) measuring the marketing plan’s performance in the marketplace
C) evaluating the causes of any differences between expected and actual performance
D) increasing the staffing in the planning department
E) taking corrective action to close the gaps between goals and performance
________ or smart tag technology helps companies locate a product’s exact position
within its supply chain.
A) RFID
B) PRM
C) VMS
D) BCODE
E) 3PL
One of the functions performed by a PR department is ________, which involves
working with donors or members of nonprofit organizations to gain financial or
volunteer support.
A) direct marketing
B) press relations management
C) investor relations management
D) development
E) lobbying
Which of the following is a problem caused by a policy of the EU?
A) Barriers to the free flow of products, services, finances, and labor decreased.
B) Policies on trade with nonmember nations were developed.
C) Economic powers stepped in to prop up weaker economies.
D) Adopting a common currency decreased currency risk.
E) The EU represents one of the world’s largest single markets.
Dell produces and delivers PCs of competitive quality at lower costs. The company
constantly aims to achieve low production and distribution costs to win a large market
share. Dell utilizes a(n) ________ strategy very effectively.
A) overall cost leadership
B) differentiation
C) focus
D) blue ocean
E) market segmentation
After selecting a sweater on the Land’s End Web site, Kelly was asked to fill in details
for the customer database. Kelly was given a form that required her to fill in her name,
date of birth, and e-mail address. Kelly then checked a box that was next to the
following statement: “Yes, I would like to receive weekly promotional information from
Land’s End online.” Which of the following practices is evident from this scenario?
A) e-mail hosting service
B) e-mail spoofing
C) catalog marketing
D) contextual advertising
E) permission-based e-mail marketing
The fundamental asset underlying brand equity is ________, the value of customer
relationships that the brand creates.
A) the customer mix
B) customer equity
C) the product experience
D) service variability
E) the service encounter
After a research instrument is selected, the next step in the marketing research process
is to ________.
A) select a sampling method
B) interpret the research findings
C) implement the research plan
D) evaluate alternatives
E) select a research approach
________ are those runner-up firms that are working to increase their market share in
an industry.
A) Market leaders
B) Market challengers
C) Market followers
D) Market mavens
E) Market nichers
Logos, uniforms, brochures, and company trucks are all examples of ________
materials that can be used to help a company create a visual image which the public can
immediately recognize.
A) direct marketing
B) social marketing
C) public service
D) corporate identity
E) buzz marketing
Which of the following promotion tools involves building up a good corporate image
and handling unfavorable stories and events?
A) sales promotion
B) personal selling
C) direct marketing
D) public relations
E) advertising
When the size, purchasing power, and profile of a market segment can be calculated,
the market is ________.
A) measurable
B) profitable
C) substantial
D) actionable
E) competitive
In a(n) ________ situation, the buyer wants to revise product specifications, prices,
terms, or suppliers.
A) reverse auction
B) straight rebuy
C) new task
D) modified rebuy
E) absolute auction
When Verizon Wireless began offering the iPhone, it used its “Can you hear me now?”
slogan to attack AT&T’s rumored spotty service. This example best illustrates
________.
A) informative advertising
B) reminder advertising
C) comparative advertising
D) covert advertising
E) institutional advertising
Refer to the scenario below to answer the following question(s).
In the 1970s, Shipshewana was only a small town with a hardware store, a grain mill, a
shoe store, a small restaurant, and a grocery store. Over the next two decades, the small
town transformed into an international tourist attraction, attracting thousands of tourists
who were intrigued by the lifestyle of Shipshewana’s largest population’”the Amish.
Ben and Mary Miller, having grown up within the Amish faith, decided to capitalize on
their town’s popularity and their woodworking skills. Their shop, Indiana Wood, began
with a small display of handmade hickory rocking chairs, Ben Miller’s specialty. But
within a few months, the display at Indiana Wood included picnic tables, flower boxes,
and small handmade novelty items. No other shop offers the same variety.
Mary Miller decorated the shop’s display room with authentic Amish décor and
eventually hired three Amish friends to sew and embroider napkins and other textiles as
customers had requested such items. In addition, two women from the Amish
community sought permission from the Millers to display home-baked pastries and
jellies on Tuesdays and Wednesdays, when Shipshewana attracts swarms of visitors to
its flea market on the south edge of town. The Millers also hired four more people to
help customers throughout the purchasing process and to provide the required
product-related information to the customers.
“Shipshewana is full of specialty shops,” Mary Miller stated. “People don’t come here to
buy things made in China or Taiwan. They want real, Amish-made goods.”
Which of the following would be the most logical way for Indiana Wood to expand?
A) establishing an online presence
B) pursuing retail convergence
C) implementing RFID inventory tracking
D) establishing a community-gathering environment in the store
E) joining a producers’ cooperative
Discuss why business legislation is enacted. Provide examples.
List some important factors that companies need to consider when choosing a
market-targeting strategy.
What is the most important characteristic of a good MIS?
Explain the impact of the baby boomers, Generation Xers, Millennials, and Generation
Zers on today’s marketing strategies.
Describe three public policy issues or regulations that marketers should carefully
consider as they make decisions about adding or dropping products.
What are the differences between innovators and early adopters?
What are the primary requirements for effective market segmentation?