Internal factors affecting consumer choices are the most difficult to understand.
In price lining, the escalation of product prices up the product line no longer have to
consider factors such as real cost differences among the various features offered,
customer assessments of the value added by the increasing level of benefits, and prices
competitors are charging for similar products.
Business markets tend to concentrate in certain locations in the United States as a result
of suppliers wanting to be located close to one another.
With reference to the VALS¢ framework, makers are active and impulsive, seeking
stimulation from the new, offbeat, and risky.
Companies use perceived quality only to validate a price premium.
A good branding strategy can overcome a product that fails to deliver on the value
proposition by infusing it with a brand image.
Companies often have to delineate a product’s characteristics, which refers to
______________.
A.How the product looks
B.How the product feels
C.The physical elements of the product
D.The features of the product
E.All of the above
Delineating a product’s characteristics means defining its look, feel, physical elements,
and features.
Greg and Mark, CRM consultants, have been hired by Devon to guide her company
through the CRM implementation process. All employees are on cross-functional teams
to focus transforming the firm into a relationship-based enterprise. One team meeting is
designed to focus on three important categories that revolve around ________.
A.Customers, suppliers, prospects
B.Customers, the relationship, and managerial decision making
C.Customer relationships, marketing, and product offering
D.Customer, managers, and suppliers
E.Customer relationships, employee relationships, and managerial relationships
In a relationship-based enterprise, the focus is on developing long-term, win-win
relationships between buyer and the seller firm. To achieve this goal, it is important to
understand customers, the relationship, and the managerial issues.
Materials, repairs and operational supplies and services, are generally purchased
through a ______________.
A.Buying center
B.Buying committee
C.Bid at time of need
D.Straight rebuy
E.Contractual liturgy
MRO supplies are products used in everyday business operations and are typically not
considered a significant expense. Many of these purchases are straight rebuys; the
individuals involved do not want to spend a lot of time making the purchase.
____________ is the fastest-growing customer interface methodology and has
fundamentally changed the way companies and customers interact.
A.Direct selling
B.Vending machine retailing
C.Electronic commerce
D.Television home shopping
E.In-store retailing
Electronic commerce refers to any action using electronic media to communicate with
customers; facilitate the inventory, exchange, and distribution of goods and services; or
make payment. It is the fastest-growing customer interface.
Most personality traits are formed _______________.
A.In the teen years
B.All during one’s life
C.At major life events
D.At an early age
E.At birth
Most believe personality characteristics are formed at a relatively early age and can be
defined in terms of traits such as extroversion, agreeableness etc. These core traits then
lead to outward characteristics, which are what people notice.
Statistics the sales manager gathers from the firm’s internal data reflect _________.
A.Subjective measures
B.Personal evaluations
C.Objective measures
D.Intangible measures
E.Non financial incentives
Objective measures used to evaluate a salesperson’s performance reflect statistics the
sales manager gathers from the firm’s internal data.
_____ and company bulletin boards encourage a sense of community that enhances the
customer’s company and product experience.
A.Blogs
B.Advertisements
C.Telemarketers
D.Catalogs
E.Sales promotions
Blogs and company bulletin boards encourage a sense of community that enhances the
customer’s company and product experience. Companies are still learning how to
effectively harness the power of community for their products.
A(n) __________________ consists of otherwise independent entities that are bound
together legally through contractual agreement.
A.Value chain
B.Matrix organization
C.Corporate VMS
D.Contractual VMS
E.Administered VMS
Contractual VMS consists of otherwise independent entities that are bound together
legally through contractual agreement. The most famous example of this arrangement is
a franchise organization.
___________are more graphic, visually interesting ads that move across the Web page.
A.Sponsorships
B.Banner ads
C.Blogs
D.Interstitials
E.Search related ads
Interstitials are more graphic, visually interesting ads that move across the Web page.
All of the following are the sources of power that are relevant in a channel setting
EXCEPT:
A.Coercive power
B.Administered power
C.Reward power
D.Expert power
E.Referent power
The five sources of power that are relevant in a channel setting are coercive power,
reward power, expert power, referent power, and legitimate power (and not
administered power).
The region, the density of the population, and the size of the population are techniques
used in ________.
A.Positioning
B.Differentiation
C.Democratic segmentation
D.Population parameter estimation
E.Geographic segmentation
Some of the popular approaches to geographic segmentation within the United States
are, by region, density of population, size of population, growth in population, and
climate.
Describe the pros and cons of advertising, sales promotion, personal selling, and direct
and interactive marketing in the promotion mix.
What is CRM?
Define the ways in which economic data can be examined and explain why this
information is important to marketing decision makers.
Verizon has a new version of SmartPhone to introduce to the market. What is the best
advertising execution strategy for showing how the product works and why? Briefly
explain what should be done in this execution?
Why is the buying center an important part of the purchasing decision?