In today’s workplace everyone is involved in service in some way; everyone has
customers either outside or inside the firm, or both.
A price leadership position (example: Walmart) implies that a company that assumes
this position has superior operational elements in order to maintain the low price
position.
Family and household segmentation have become more complex than ever as a result of
non-traditional households and different standards of morality in the population.
Managers are typically aware of all of the information in their own company.
Gen Y is often referred to as the “baby bust” because it represents a natural cyclical
downturn in birthrate.
Odd pricing can backfire if misapplied, specifically to service industries.
While many companies operate in the business-to-consumer markets, all companies
operate in a business-to-business market.
Enrico pays a market rate to take his young children to daycare that is run by his
employer. It is open until 9:00 p.m., a time by which everyone leaves. This service
offered by his company offers ________________ utility.
A.Time
B.Form
C.Place
D.Form and ownership
E.Time and place
Since the daycare is at his place of work, he can reach there easily and it is also open
when he needs it. Thus it offers both time and place utility.
Lucky’s Lettuce has spent much time and money over the past several years trying to
become the premium brand for lettuce. However managers are finding it very difficult
to build a strong brand because of the commodity nature of lettuce. This is an example
of the ______ limitation of branding.
A.Need for meaningful differences among products
B.Failure to persuade the customer
C.Failure to overcome poorly designed products
D.Failure to protect the brand
E.Lack of brand worthy communications
There must be identifiable and meaningful differences among products. If all products
are perceived to be equal, it becomes difficult to create a brand identity. Hence,
commodities like lettuce are difficult to brand.
_____ tends to reinforce existing attitudes and creates a real challenge for marketers
trying to overcome negative beliefs and attitudes since people are less likely to be
aware of or retain information which contradicts their beliefs and attitudes.
A.Selective awareness
B.Selective distortion
C.Selective memory
D.Selective retention
E.Selective hearing
Even if a stimulus is noticed and interpreted correctly, there is no guarantee it will be
remembered. Selective retention is the process of placing in one’s memory only those
stimuli that support existing beliefs and attitudes about a product or brand.
In an administered VMS, the sheer size and power of one of the channel members
places it in a position of channel control. The lead player in such situations may be
referred to as the _____________, signifying its ability to control many aspects of that
channel’s operations.
A.Channel member
B.Retailer cooperative
C.Wholesaler cooperative
D.Channel captain
E.Channel partner
In case of an administered VMS, the channel captain can control many aspects of the
channel’s operations.
Stores use ______________ to create a comfortable environment for the customer.
A.Layouts and displays
B.Interior colors
C.Music
D.A & B
E.A, B & C
The environment is fundamental in setting the tone for the shopping experience. Store
layout and displays, interior colors, even the music in the store all work together to
create an atmosphere that it is hoped will make the customer feel comfortable.
The marketing manager of a large clothing retailer asks his marketing research
consultant to conduct a series of studies including message assessment, content analysis
and media assessment. This research is intended to help with decisions related to which
element of the marketing mix?
A.Product
B.Price
C.Distribution
D.Transportation
E.Promotion
The promotion element of the marketing mix deals with message assessment, content
analysis and media assessment, copy testing and media buy assessment.
Tangibility refers to __________.
A.The service delivered with the product
B.The ability to create a combination of product and service
C.The physical aspect of a product
D.The value of the product in the market
E.The emotions associated with the product
Products, as opposed to services, have a physical aspect referred to as tangibility.
The sales engineer from General Electric who calls on Boeing to sell the GE90 jet
engine to be used in a Boeing aircraft is an example of a ____________.
A.Technical seller
B.Solutions servicer
C.Missionary salesperson
D.Trade servicer
E.Telemarketer
Technical selling involves selling products that are highly technical and complex in
nature. Owing to the complexity of many of the products and associated services
involved in technical selling, it might be difficult for any one salesperson to master all
aspects of the sale. Thus, the trend is for most technical selling to be done in
cross-functional teams.
While conditioning requires little effort on the part of the learner, ______ is more active
and involves mental processes that acquire information to work through problems and
manage life situations.
A.Classical learning
B.Long term memory
C.Active learning
D.Cognitive learning
E.Operant learning
Cognitive learning is a complex process which involves acquiring information to solve
a problem or manage a life situation.
When using _______________ a bottom line profit is established first and then pricing
is set to achieve the target.
A.Penetration pricing
B.Price skimming
C.Target return on investment (ROI)
D.Competitor based pricing
E.Value pricing
A target return on investment (ROI) pricing strategy is used for profit maximization.
Here, a bottom-line profit is established first and then pricing is set to achieve the
target.
The _______________ stage of the AIDA model is most important when it becomes
necessary to inform customers more specifically about what a product offering can do
for them to help fulfill needs and wants.
A.Decoding
B.Interest
C.Desire
D.Action
E.Attention
To translate customer attention into interest requires persuasive communication; for
more technical or complicated products, this means beginning to inform customers
more specifically about what a product offering can do for them- how it helps fulfill
needs and wants.
One of the benefits of electronic data interchange (EDI) is ________.
A.Customer computers communicate directly with supplier computers
B.Suppliers can listen in on buyers
C.Buyers get better prices than ever before
D.Late deliveries are less common
E.Technology linkages are more plentiful
By linking directly with electronic data interchange (EDI), customer computers
communicate directly with supplier computers to reorder as needed.
What are the four sources of new product idea generation?
List and describe the steps of the AIDA model.
What are customer touchpoints?
Little m marketing refers to tactics and programs the firm uses to reach its stakeholders.
TRUE
Little m marketing serves the firm and its stakeholders at the functional or operational
level. Hence, marketing (little m) is often thought of as
What is the biggest challenge small companies face in new product development?
In looking at the Boston Consulting Group Model and the GE Business Screen, which
is the more realistic? Why?
Jasper wants to get his retailers and wholesalers to help him promote his product, what
tool could Jasper use to achieve this goal?
Richard’s partner thinks of logistics in very limited terms. Richard has been trying to
work out a better logistics plan for their luxury doghouse company. Help Richard
explain how inbound and outbound logistics relates to his company.
Why does a firm develop marketing strategy during the new product development
process? Why doesn’t the firm simply wait until the product is ready to be launched to
develop the marketing strategy? Isn’t it a waste of time to develop strategy for a product
that may never get to market?