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An analysis in which the strengths and weaknesses of competitors and their current and
likely future strategies are examined is known as competitor analysis.
Telemarketing had the highest response rate of any other direct marketing method.
Market development strategies consider customers who either have been targeted by the
firm or the firms competitors but have never purchased product from the firm or its
competitors.
You can assess competitors core strategies by studying their marketing
communications.
Conjoint analysis is a marketing research method that enables you to determine how
customers value different levels of product attributes from theoretical profiles or
concepts.
An advantage of the Internet is that customer movements on the Web can be tracked,
stored, and analyzed in real time.
Consumers which fall under the global agnostics segment rely on the global success of
a company to signal its product quality and innovativeness.
The concept of unused capacity is important in product categories with high-fixed-cost
and high contribution-margin.
Too many cash cows means considerable revenue generation but no future.
Mobile phones are available to almost every socioeconomic stratum.
In brainstorming, group members try to generate a large number of diverse ideas
without criticism from other members.
Which of the following examples best represents product form competition in drip
coffee machine category?
A) other brands of coffee drip machines
B) percolators and espresso machines
C) juicers and water purifiers
D) pots and pans
Which of the following factors affects the allocation of funds between advertising and
promotions?
A) the total amount of resources available
B) the mission and vision of the organization
C) the number of potential customers in the target market
D) the functional background of the CEO
In this situation, the manager has set a price that is higher than the target market is
willing to pay. The customer looks at this situation as a bad deal and, unless the
company has a monopoly or some other kind of market power, does not buy. Identify
the situation.
A) perceived value > price > cost
B) price > cost > perceived value
C) price > perceived value > cost
D) perceived value > cost > price
The huge success of Heinz Ketchups plastic squeeze bottles is an example of
differentiation on the basis of:
A) product features.
B) product quality.
C) packaging.
D) product design.
Which of the following best describes setting a price at the level determined to
represent the customers perceived value for your product?
A) pricing to value
B) quality pricing
C) value pricing
D) price discrimination
Identify the type of quota where it is difficult for the salesperson to know where she or
he stands in relation to the quota.
A) sales volume based quota
B) profit based quota
C) combination quota
D) customer based quota
Which of the following tech customers are the biggest spenders, and the early adopters
of new technology for home, office, and personal use?
A) Fast Forwards
B) Techno-Strivers
C) Gadget-Grabbers
D) Media Junkies
Traditionally, the __________ have been the most popular distribution channels for
industrial products.
A) retail stores and direct sales
B) sales force and industrial distributors
C) Internet and retail stores
D) personal selling and wholesalers
In technology-based markets, the marketing manager must understand who the different
customers that will purchase the product at the introductory stage of the product life
cycle and who will purchase the product as it matures. According to Everett Rogers,
which of the following types of customers will be the first to buy the product?
A) early adopters
B) early majority
C) innovators
D) laggards
Which of the following types of competition is based on products that have similar
features and provide the same basic function?
A) product class or product category
B) product form
C) generic
D) budget
Which of the following variables are operating variables used for industrial marketing
segmentation?
A) delivery speed of the product
B) order size
C) technologies used by the customer
D) number of employees
________ refers to knowing the target market, specifying the benefits to be delivered to
the target customers, having a basic idea of how the product will be positioned, and
finalizing the features and attributes.
A) Fast time-to-market
B) Sharp product definition
C) Careful launch planning
D) Strong market orientation
In high-technology companies, there is an inordinate focus on the technology and
product features rather than the customer and the benefits sought because:
A) products sell better with focus on technology than with focus on customers.
B) high-technology companies are usually founded and run by engineers.
C) these companies invest huge amounts in innovation and have the ability to create
entire product classes.
D) they believe that customers are not aware of the technological innovations that they
are capable of.
List and briefly describe the useful customer service principles discussed in the text.
List and briefly describe the major groups developed by SRI Internationals VALS
system.
List and briefly describe the five ordered levels of human needs according to Abraham
Maslow.
Explain Nash equilibrium.
Discuss the three different approaches to new product development.
List and briefly describe the situations in which channel members are likely to have
significant bargaining power over the marketing manager.
