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The franchise organization is an example of a corporate vertical marketing system.
Answer:
The Robinson-Patman Act seeks to prevent unfair price discrimination by ensuring that
sellers offer the same price terms to customers at a given level of trade.
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To overcome the problem of price escalation when selling to less-affluent consumers in
developing countries, many companies make simpler or smaller versions of their
products that can be sold at lower prices.
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New communications technologies like satellite TV and social media are likely to
eliminate the need for markets to be geographically segmented as clusters of countries.
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While the societal marketing concept considers the future welfare of consumers and the
sustainable marketing concept considers future company needs, the strategic planning
concept considers both.
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Organizations that follow the societal marketing concept most likely practice socially
and environmentally responsible marketing.
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iTV lets viewers interact with television programming and advertising using their
remote controls.
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The primary objective of causal research is to describe things, such as the market
potential for a product or the demographics and attitudes of consumers who buy the
product.
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The blogosphere is cluttered and difficult to control.
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The maturity stage of the product life cycle is characterized by a slowdown in sales
growth.
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Customer-perceived value is defined as a customer's evaluation of the perceived
difference between all the benefits and all the costs of a market offering relative to those
of competing offers.
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In the new product development process, the purpose of idea generation is to create a
large number of ideas and the purpose of the next set of stages in the process is to
reduce that number.
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Companies that combine a customer-centered approach with team-based new product
development gain a big competitive edge by getting the right new products to market
faster.
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When a consumer learns about a new product for the first time and makes a decision to
try it, the consumer is engaged in the evaluation of alternatives process.
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The Internet is forcing companies toward more standardized international pricing.
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Since less than ten percent of smartphone owners use their phones for shopping-related
activities, mobile marketing is a slow growing digital marketing platform.
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The marketing results from direct mail are difficult to measure.
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The product-market expansion grid, like the BCG matrix, is used to identify growth
opportunities.
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Tom usually buys new devices such as PDAs, DVRs, and MP3 players only after his
friends and family start owning these devices. In this case, Tom is an innovator.
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Marketing is primarily concerned with engaging customers and secondarily with
managing profitable customer relationships.
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An effective MIS assesses information needs, develops needed information, and
distributes the information to help managers with decision making.
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Xenon Corp. releases frequent updates to improve its expensive software products. This
marketing approach used by the firm is most likely based on the production concept.
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The rise of megaretailers has shifted the balance of power between retailers and
producers. Since megaretailers have access to numerous consumers, they have
significant power when dealing with manufacturers.
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In any medium, the relevance of advertising content to an audience is less important
than how many people the advertisement reaches.
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In the context of execution styles in advertising, using an animated character that
represents a product in an advertisement is an example of an endorsement.
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Viral marketing involves creating videos, ads, and other marketing events that are so
infectious that customers will seek them out or pass them along to others.
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During the decline stage of the product life cycle, product sales may plunge to zero, or
they may drop to a low level where they continue for many years.
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The larger the gap between expectations and performance of a product, the greater a
consumer's dissatisfaction.
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Pricing strategies usually remain the same as a product passes through its life cycle.
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The purchasing power of a population is part of the demographic environment of a
company's macroenvironment.
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The buying center consists of key decision makers from both the buying organization
and the supplier.
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The Office Depot Foundation serves its financial publics through a variety of programs.
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The final step in the marketing process is ________.
A) capturing value from customers
B) constructing an integrated marketing program
C) building profitable relationships with the customers
D) understanding the marketplace
E) designing a customer-driven marketing strategy
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Managing upstream and downstream value-added flows of materials, final goods, and
related information among suppliers, the company, resellers, and final consumers is
known as ________.
A) marketing logistics
B) distribution system management
C) supply chain management
D) full-line forcing
E) physical distribution
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________ refer to two or more outlets that are commonly owned and controlled.
A) Corporate chains
B) Factory stores
C) Specialty stores
D) Designer shops
E) Warehouse clubs
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Evaluating the results of marketing strategies and plans and taking corrective action to
ensure that the objectives are attained is called ________.
A) marketing control
B) marketing implementation
C) market planning
D) marketing development
E) market targeting
Answer:
Leading "big-box" stores, such as Walmart and Target, now dominate the retail scene.
However, even 'small-box" stores like Dollar General, are thriving in the current
economic environment. All three retailers are considered ________.
A) convenience stores
B) discount stores
C) full-service retailers
D) designer shops
E) specialty stores
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In a just-in-time logistics system, ________.
A) retailers carry small inventories of merchandise to last for only a few days
B) retailers store products for long periods to avoid an interruption in supply
C) producers supply products to resellers before customers place their orders
D) producers that are geographically far from their retailers use an express-delivery
system
E) retailers incur high inventory-carrying and inventory-handling costs
Answer:
The growth of the Internet caused many traditional companies to ________ in response
to customer demands and a changing marketplace.
A) use traditional direct marketing forms
B) adopt direct-mail marketing
C) use omni-channel retailing
D) develop retail transaction sites
E) expand their outside sales forces
Answer:
Which of the following is an example of a firm utilizing public relations as a promotion
tool?
A) a firm using its personal sales force at an expo to sell its products
B) a firm sending its catalog directly to customers through e-mail
C) a firm informing customers of special discounts on its Web site
D) a firm providing interesting information about a product to the news media
E) a firm using a celebrity to endorse a product in a television commercial
Answer:
Technologies such as interactive cable systems, Internet-ready smart TVs, and
smartphones and tablets allow consumers to use their TV remotes, phones, or other
devices to obtain more information or make purchases directly from TV ads. This is
referred to as ________ advertising.
A) virtual world
B) interactive TV
C) direct-response TV
D) podcast
E) e-catalog
Answer:
Mail surveys have many disadvantages so many marketers have switched to ________.
A) telephone surveys
B) Internet-based surveys
C) group interviews
D) personal surveys
E) individual interviews
Answer:
Conventions, trade shows, and sales contests are types of ________.
A) point-of-purchase promotions
B) trade promotions
C) advertising specialties
D) business promotions
E) premiums
Answer:
Which of the following is most likely a true statement about baby boomers?
A) They are the first generation to have grown up with computers.
B) They constitute the largest demographic group in the United States.
C) They were born between 1965 and 1976.
D) They are the most educated generation of Americans.
E) They are the wealthiest generation in U.S. history.
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Some marketers now rely almost entirely on digital and social media.
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Global Insurance sells health and life insurance policies to Fortune 500 companies for
its employees. The company's salespeople regularly contact decision makers to ensure
that the necessary paperwork has been filed and that contracts are executed. Updates are
also provided regularly about premium changes for health insurance. Which of the
following steps of the selling process does this scenario depict?
A) approach
B) presentation
C) closing
D) follow-up
E) preapproach
Answer:
Amazon.com and Expedia.com are best described as ________ that sell products and
services directly to final buyers via the Internet.
A) search engines
B) content sites
C) transaction sites
D) e-tailers
E) iTV sites
Answer:
Shampoo marketers segment buyers as light, medium, or heavy product users. This is
an example of ________ segmentation.
A) user status
B) usage rate
C) benefits sought
D) occasion
E) psychographic
Answer:
Experimental research is best suited for gathering ________ information.
A) exploratory
B) causal
C) ethnographic
D) interactive
E) descriptive
Answer:
Xenon, a leading consumer-electronics manufacturing company, markets its products
under the company's own brand name. In this case, Xenon has sponsored its products
by promoting them as ________ brands.
A) licensed
B) private
C) store
D) national
E) distributor
Answer:
Rather than just creating and placing "TV ads" or "print ads" or "Snapchat branded
story ads," many marketers now view themselves more broadly as ________ managers.
A) social media marketing
B) content marketing
C) integrated marketing communication
D) direct marketing
E) multi-media marketing
Answer:
In the BCG matrix, ________ refer to low-growth, high-share businesses or products.
A) stars
B) cash cows
C) question marks
D) dogs
E) heroes
Answer:
The App Store views and organizes its marketing activities from the viewpoint of its
buyers, who are predominantly comprised of the Millennial generation. Management
works hard to sense, serve, and satisfy the needs of this tech savvy demographic. Which
of the following does The App Store most likely practice?
A) consumer-oriented marketing
B) societal marketing
C) sense-of-mission marketing
D) affiliate marketing
E) innovative marketing
Answer:
Bill thought he had received the best deal on his riding mower. Shortly after the
purchase, Bill started to notice certain disadvantages of his new riding mower as he
learned more about other riding mowers available in the same price range. Bill is in
which of the following stages of the buyer decision process?
A) purchase decision
B) need recognition
C) postpurchase behavior
D) information search
E) alternate evaluation
Answer:
An innovation management system would most likely be used by ________.
A) managers to update details about customer information
B) brand managers to collect, review, and evaluate new product ideas
C) suppliers to access inventory information
D) product managers to track logistics of a new product
E) human resource managers to update information on employee incentives
Answer:
Which of the following is most likely a financial public?
A) community organization
B) minority group
C) corporate attorney
D) stockholder
E) newspaper
Answer:
The Great Recession has most likely resulted in a(n)________.
A) demand for private goods
B) increase in cultural pollution
C) decline in conspicuous spending
D) increase in modern materialism
E) desire for extravagant products
Answer:
Dollar General profitably appeals to families with more modest means. The retailer's
approach is most likely referred to as ________.
A) mass distribution
B) cost leadership
C) consumer-generated marketing
D) target marketing
E) undifferentiated marketing
Answer:
The ________ style of advertising shows ordinary people clearly using a product in a
normal setting.
A) personality symbol
B) slice of life
C) mood or image
D) testimonial evidence
E) technical expertise
Answer:
________ is the process of dividing a market into distinct groups of buyers who have
different needs, characteristics, or behavior.
A) Differentiation
B) Mass marketing
C) Market targeting
D) Market segmentation
E) Positioning
Answer:
At Fantastic Flavors, a large regional chain of candy stores, employees from marketing,
design, production, and finance departments work in cross-functional groups to save
time and money in the new product development process. From this description, it can
be inferred that Fantastic Flavors uses a(n) ________ approach.
A) intradepartmental new product development
B) sequential new product development
C) team-based new product development
D) simulated test market
E) controlled test market
Answer:
A product line is most likely too long if managers can ________.
A) decrease costs by adding items
B) increase market share by adding items
C) increase profits by dropping items
D) decrease costs by dropping items
E) increase profits by adding items
Answer:
________ includes all the activities involved in selling goods and services to those
buying them for resale or business use.
A) Wholesaling
B) Sole sourcing
C) Franchising
D) Crowdsourcing
E) Showrooming
Answer:
What is the most likely disadvantage of direct investment for an investing company?
A) weak relationships with local distributors
B) minimal investment control
C) product standardization requirements
D) devalued currency risks
E) excessive freight charges
Answer:
Mary Kay Cosmetics and Amway sell their products through home and office sales
parties, online Web sites, and social media. Both companies use a(n) ________ channel
to distribute their offerings.
A) functional
B) indirect
C) direct
D) layered
E) behavioral
Answer:
________ is the only element in the marketing mix that produces revenue.
A) Price
B) Place
C) Promotion
D) Product
E) Profit
Answer:
As the marketing manager at Secure Services, a home security systems company, you
have been asked to devise a new sales and marketing strategy for a new line of
sophisticated alerting systems called "Imperio." These alerting systems can be
programmed to meet individual specifications, have special child lock features, and
require the thumb impression of the home-owner(s) for a visitor to be allowed inside
the house. The two previous promotional ventures failed to elicit much consumer
response because most people were unaware of the benefits of such devices except for
those consumers who were specifically looking for them. Can the use of e-mail
marketing by Secure services be justified for its current marketing effort? Why or why
not?
Answer:
Discuss how an increased educational level in the United States has affected the
American household and how marketers have responded to these changes.
Answer:
Vintage, one of the largest companies in the United States, produces a vast range of
goods which includes cameras, home appliances, and personal-care products. The
company also competes vigorously in the services market by managing a number of
hotels and hospitals. Vintage entered the real-estate industry in the last decade and
proved to be a success in that field too. Considering the vast range of products and
services Vintage sells, which sales-force structure would you consider appropriate for
the company? Explain the reasons for your answer.
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Differentiate between intranets and extranets. How are such systems beneficial to
marketing managers?
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Discuss the four Ps of the typical marketing mix. Some people consider that there
should be more than four marketing mix elements. Suggest two additional aspects that
the marketing mix could include.
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Discuss the advantages and disadvantages of e-procurement?
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What is consumer-generated content? Provide an example.
Answer:
Amex Retail, the country's largest and oldest retail chain, was recently recognized as
one of the most influential companies in the United States. The company aims to
capitalize on this opportunity by implementing major marketing activities to capture the
attention of consumers, politicians, and environmentalists. The company was one of the
first to do away with plastic bags, and the public relations division is contemplating the
adoption of additional green retailing practices. Would this move reflect sound business
tactics? What other measures can Amex Retail take in this direction?
Answer:
Define customer equity, and explain why it is important to a company.
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Define commercialization. Explain the two important issues that a company must
decide during this stage.
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What are marketing intermediaries? What are the different types of marketing
intermediaries?
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Differentiate between styles, fashions, and fads. Illustrate your response with examples
of each.
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What is organization marketing? Explain with the help of an example.
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Compare and contrast the four major strategies that are generally used to target market
segments.
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What is a contractual vertical marketing system? Give an example of a type of business
that works as a contractual VMS.
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Briefly describe a few ways the American marketing system is accused of harming the
consumer.
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