Bic’s Wite-out phased out unprofitable outlets and reduced communications to the
minimal level needed to retain hard-core loyals because it was in the maturity stage of
the product life cycle.
Problem removal and normal depletion are examples of positively oriented relevant
brand needs.
Baby boomers are consumers who have been “wired” almost from birth ‘” playing
computer games, navigating the Web, downloading music, connecting with friends via
instant messaging and mobile phones.
Marketing goods that are currently in short supply would require significant marketing
talent.
An undifferentiated marketing approach to full market coverage designs a marketing
program for a product with a superior image that can be sold to the broadest number of
buyers.
The business market is essentially the same market as the consumer market.
There are situations in which consumers know a brand’s category membership but may
not be convinced the brand is a valid member of the category.
Companies following a market specialization strategy offer one product to as many
markets as possible.
When Sony introduced the first high-definition television to the Japanese market in
1990, it was priced at $43,000, which is an example of partial-cost recovery pricing.
Points-of-parity may be shared among two or more brands.
When golf courses provide rules for playing and behaving appropriately, and customers
encourage other customers to follow the same rules, they are encouraging customer
citizenship via customer coproduction.
The absolute limit of company demand is the market potential; the two would be equal
if the company captured 100 percent of the market.
Labels can identify the product and must contain legal statements that under various
Federal laws cannot be misleading, false, or deceptive.
The most highly credible source would score high on at least two of the three
dimensions ‘” expertise, trustworthiness, and likability.
A company should try to retain a customer only as long as the cost to discourage
defection is lower than the lost profit.
The total demand for many business goods and services is inelastic; that is, not greatly
affected by price changes.
Straddle positioning refers to a brand using different positioning with different
categories of competitors.
On spot electronic markets, prices of products or commodities change by the minute.
When Canon grabbed a large chunk of Xerox’s market by introducing desk copiers, it
distanced itself from other challengers by ________.
A) attacking a regional firm
B) attacking a firm of its own size that was underfinanced
C) attacking the market leader
D) attacking a firm of its own size that was not doing the job well
E) acquiring guppies
________ are informal workplaces, sometimes garages, where intrapreneurial teams
attempt to develop new products.
A) Stage-gate systems
B) Skunkworks
C) Funnels
D) Opportunity spaces
E) Research centers
Which of the following consumer promotion tools offers a free amount of a product or
service delivered door-to-door, sent in the mail, picked up in a store, attached to another
product, or featured in an advertising offer?
A) coupons
B) rebates
C) premiums
D) samples
E) price packs
The traditional view of marketing works best in economies with many different types of
people, each with individual wants, perceptions, preferences, and buying criteria.
In a ________ purchasing situation, the buyer wants to make some change to existing
product specifications, prices, delivery requirements, or other terms.
A) new rebuy
B) regular buy
C) straight rebuy
D) modified rebuy
E) new task
It has been observed that most new products have shorter product life cycles. What is
the reason for this?
A) Most new products do not use technology.
B) Most new products are not backed by a marketable idea.
C) New products do not get adequate management support.
D) Social and governmental constraints lead to this failure.
E) Rivals quickly copy products that are successful.
Avon, Tupperware, and Southwestern Company of Nashville are among companies in
the multibillion-dollar ________ industry, which involves selling door-to-door or at
home sales parties.
A) direct marketing
B) catalog showroom
C) direct selling
D) automatic vending
E) buying services
An item described as low-risk and low-opportunity is a ________.
A) nuisance item
B) bottleneck item
C) variable item
D) critical item
E) commodity
In which of the following cases is a service provider trying to increase nonpeak
demand?
A) A fine dining restaurant is promoting a breakfast service in addition to its popular
lunch and dinner options.
B) An upscale restaurant has a cocktail lounge where customers can wait until a table is
ready.
C) AXA Bank set up automated teller machines so that its customers could avoid
standing in line.
D) Chesterton College hired part-time teachers as enrollment increased significantly.
E) Big department stores usually hire extra staff to handle the rush during the holiday
season.
Non-digital media provide marketers and consumers with opportunities for much
greater interaction and individualization than digital media.
The partners in ________ systems are united in operational ways, but neither
demonstrates structural commitment through legal means or adaptation.
A) mutually adaptive
B) collaborative
C) basic buying and selling
D) customer supply
E) cooperative
Which of the following statements about Gen Yers is true?
A) They are selective, confident, and impatient.
B) They are more likely to associate retirement with “the beginning of the end.”
C) They are more pragmatic and individualistic.
D) They were born between 1964 and 1978.
E) They were the first generation to find surpassing their parents’ standard of living a
serious challenge.
________ “Face Retirement” app used 3D “virtual makeover” imaging technology to
show people what they might look like as they approached retirement age as part of a
campaign to encourage young people to save for retirement.
A) Charles Schwab’s
B) Ameritrade’s
C) Prudential’s
D) Bank of America’s
E) Fidelity Investments’s
Which of the following is likely to be an important trend in marketing in the future?
A) marketing intuition
B) free-spending marketing
C) manual marketing
D) marketing science
E) mass marketing
________ auctions let would-be suppliers submit only one bid; they cannot know the
other bids.
A) Descending bid
B) Sealed-bid
C) English
D) Dutch
E) Reverse
Reynold’s is a grocery chain that has always catered to mid-market customers.
However, the owner, Mal, has noticed that an influx of new residents are buying mostly
the lower-cost and discounted products. To attract customers, Mal decides to make a
gradual switch to the discount store format, but to do this, he will have to cut costs
wherever possible. Which of the following types of services should Mal avoid in order
to lower costs?
A) limited service
B) self-selection
C) full-service
D) self-service
E) limited-selection
What are the six steps in personal selling?
List and define some of the important shifts that have taken place in business and
marketing practices.
The manager of a computer service center knows that quick service is the top priority
for customers. Accordingly, the employees are encouraged to solve customer difficulties
fast, but there is no set time period for service delivery. Which gap could cause
unsuccessful service delivery in this situation?
Marco is working on promoting his company’s Glazer brand of electronic razors. The
company estimates 50 million potential users and sets a target of attracting 8 percent of
the market. He hopes to reach 80 percent of the potential customers with an advertising
message. He would be pleased if 25 percent of the prospects that were aware, tried the
Glazer. According to further estimates, 40 percent of all triers will become loyal users.
If the cost of exposing 1 percent of the target population to one impression is $4500 on
an average, determine the necessary advertising budget, according to the
objective-and-task method.
What are marketing channels? Briefly explain some of the different types of
intermediaries.
Today, companies are increasingly concerned about customer defection. There are three
main steps a company can take to reduce the defection rate. Describe those three steps.