The decisions made about the product have no impact on the pricing, promotion, or
distribution elements of the marketing mix.
CRM software is best selected for purchase by the Information Technology department
since the €techies’ will need to maintain it and better understand the required functions.
Captive pricing is not common in the service sector.
Collecting market and competitive information helps only one member of the channel
in offering the right product mix at the right prices.
If a product is not successful early in a new product launch, management is often
unwilling to spend additional dollars as the product becomes more widely distributed.
The end result is usually a downward spiral.
The Internet has decreased the efficiency of B2B relationships.
In case of consumer markets, there is often a more defined universe of potential
customers.
Salespeople consistently report that price is the most common customer apprehension.
By analyzing demographics, a company can define the “typical” customer but not the
market at large.
Maslow’s Hierarchy of Needs Theory suggests that individuals are not interested in
luxuries until they have had basic needs met.
Companies have traditionally had formal systems of collecting and analyzing data from
the sales force.
Internet marketers have used the personas created by individuals on social Web sites to
understand consumers’ relationship with the Web community and company brands.
It is said that customers do not buy goods or services: They buy _______.
A.Products that come with some services
B.Offerings which render services which create value
C.Services that come in a variety of sizes and shapes
D.Technology that is a service orientation
E.All of the above
As per an article titled “Evolving to a New Dominant Logic for Marketing” which
appeared in the Journal of Marketing, the traditional division between goods and
services is long outdated and customers do not buy goods and services, rather they buy
offerings which render services which create value.
_________________ affords the marketing manager an opportunity to develop a
rational pricing strategy across a complete line of related items.
A.Product line pricing
B.Captive pricing
C.Price bundling
D.Reference pricing
E.Prestige pricing
With the help of product line pricing, a marketing manager can develop a rational
pricing strategy across a complete line of related items. Prices of various items in the
line reflect the differences in benefits offered as the customer moves up and down the
product line.
_____, where prospective customers call a toll-free number for more information, can
be used to identify and qualify prospects.
A.Outbound telemarketing
B.Viral hook
C.Cold calls
D.Follow up
E.Inbound telemarketing
Inbound telemarketing, where prospective customers call a toll-free number for more
information, can be used to identify and qualify prospects. When prospects call for
more information, a telemarketing representative determines the extent of interest and
assesses the prospect qualifications and then passes the contact information on to the
appropriate salesperson.
Generation Millennium Computer Co. is trying to test a new product concept. It would
be normal for the company to ____________.
A.Ask consumers if they would buy this product and ask how much are they willing to
pay
B.Ask consumers if they would like any changes in the new product design
C.Ask consumers if they perceive the product to be different from other products on the
market
D.All of the above
E.None of the above
Target customers are useful in defining the product concept. Companies use the
information gathered from the customers to refine and develop the product as per
customer requirements.
Many companies have set up direct links to approved suppliers to make the purchase
easier and move it closer to the front line decision makers. These direct links are called
_________________.
A.Industry purchasing sites
B.Google B2B
C.Intranets
D.Extranets
E.T-lines of connection
Many companies have set up direct links (extranets) to approved suppliers to make the
purchase easier and move it closer to frontline decision makers.
The household life cycle is changing due to changes in _____.
A.Cultural beliefs
B.Cultural values
C.Family structure
D.Family life stage
E.Social class
The household life cycle depends upon family structure and the family structures are
changing due to various reasons like marrying later. Based on the family structure,
different household will have different needs.
The _________ is an example of an industry that brings out items in the spring, watches
its growth in the summer and fall, and finally declines by the winter. It has a PLC that
takes one selling season that is one year long and it is over.
A.Golf industry
B.Steel industry
C.Frozen pizza industry
D.Women’s fashion industry
E.Cell phone industry
In some cases, like the women’s fashion industry, a product moves through an entire
cycle in a period of months and is replaced with the next product design; the cycle takes
one selling season, in this case, one year.
__________________ is NOT an element of the CRM process cycle.
A.Analysis and refinement
B.Supplier interface
C.Customer interaction
D.Knowledge discovery
E.Marketing planning
The CRM process cycle begins with knowledge discovery and moves on to market
planning. The implementation of the plan is done through customer interaction and at
the analysis and refinement phase organizational learning occurs. Supplier interactions
are not included in CRM.
The best place in a SWOT analysis to identify problems with hurricanes, earthquakes,
major snowfalls, and other natural phenomena is ___________________.
A.External opportunities
B.External threats
C.Internal opportunities
D.Internal strengths
E.Internal weaknesses
The firm has no control over external weather phenomena that adversely impact
operations. Thus weather problems would be part of the external threats section in a
SWOT analysis.
A manufacturer of food products is looking at entering several new markets. Before
they do this, they want to conduct a needs assessment, a determination of purchase
criteria, a buyer behavior analysis, and a market demand estimation. They are
examining which stage of marketing planning?
A.Situation Analysis
B.Target Market Selection
C.Marketing Mix Planning
D.Marketing Control
E.Logistic Design
Target market selection stage of the marketing planning process involves needs
assessment, a determination of purchase criteria, a buyer behavior analysis, market
demand estimation and identification of segmentation bases.
_________ of a service means that because it can’t be separated from the provider, a
service’s quality can only be as good as that of the provider him-/herself.
A.Perishability
B.Intangibility
C.Inseparability
D.Variability
E.Scalability
Variability of a service means that it cannot be separated from its provider so its quality
can only be as good as that of the provider him-/herself. Thus, it is difficult to
standardize services.
Wilson has been tasked with asking customers what they think about a new product
concept. What kinds of questions should he ask? What role can customers play in
testing the product concept?
Define and discuss at least three sales training topics.
List the advantages of viral marketing.
How does channel power relate to channel conflict? What are the effects of channel
power and conflict?
Identify the stages of the product life cycle and explain the objective of each phase.
Rebecca and Chris are arguing about the use of intermediaries. Rebecca believes that
intermediaries drive up the costs of goods for end-users, Chris disagrees. What do you
think?