Public relations is an area that can be handled by anyone trained in marketing.
Customers are satisfied interacting with a company or product based primarily on
visiting a retail store.
When a company wants to create or maintain a strategic relationship with a client
company, it will be good for the company if its sales team gets involved with the
creation of an RFP with the client.
A general rule in retailing is that broader, deeper product assortments and expanded
service options require a higher price to cover increased costs.
With prestige pricing, some of the traditional price/demand curves cannot properly
predict sales or market response because it violates the common assumption that
increasing price decreases volume.
An employee who believes that he or she needs to understand who buys the company’s
products and services has an internal customer mind-set.
Market information systems serve as a bank where important information is stored until
it is needed.
Strategy has two key phases: formulation and execution.
Of all the business fields, marketing is most visible to people outside the organization.
One of the toughest challenges facing salespeople in a new or modified re-buy situation
is getting access to the right people.
An attitude is a learned predisposition to respond to an object or class of objects in a
consistently favorable or unfavorable way. Attitudes are seldom if ever neutral.
Customer contact and access points are key to the knowledge discovery process.
A ____________________ allows consumers to purchase from their homes or some
other convenient location and includes catalogs, direct selling, television home
shopping, vending machines, and electronic retailing.
A.Vending machine
B.Supermarket
C.Food retailer
D.Non-store retailer
E.Wholesaler
Non-store retailing uses alternative methods to reach the customers that do not require a
physical location. This allows consumers to purchase from their homes or some other
convenient location.
The main focus of CRM is on ____________.
A.Internal processes
B.Efficiency
C.Marketing metrics
D.Profitability through customer focus
E.Gross revenue
CRM is a system for increasing revenue and profits by focusing on customers.
Because she knows that no other single product element conveys more information
about the company than the brand, the marketing manager of XYZ Shoes is concerned
with ____ as an integral part of the product development process. Even though XYZ
offers an established product, it is defined, in large measure, by its brand, and the
marketing manager works very hard to protect this critical asset.
A.Marketing imagery
B.Branding strategy
C.Customer perceptions
D.Competitive actions
E.Internal strengths
Brands convey a lot of information about the company. Established products are
defined, in large measure, by their brand, and companies work very hard to protect this
critical asset. So branding strategy becomes an integral part of the product development
process.
The process of business purchasing online is called _____________.
A.Fast procurement
B.Channel management
C.E-procurement
D.Team procurement
E.Effective procurement
The process of business purchasing online is referred to as e-procurement.
Veggie Vitality will send retailers a check if they promote their vegetable-based
smoothies in the retailer’s promotional efforts. Veggie Vitality uses _____________.
A.Cash discounts
B.Trade discounts
C.Quantity discounts
D.Seasonal discounts
E.Promotional allowances
Wholesalers, distributors, and retailers promote a manufacturer’s brands nearly always
in response to promotional allowances provided by the manufacturer. Since Veggie
Vitality sends retailers a check for the promotion of its product, it is using promotional
allowances.
______________________ is the amount of price increase that can be taken without
affecting customer demand.
A.Just noticeable difference
B.Average-cost price
C.Target return price
D.Predatory price
E.Captive price
Price changes upward will generally reflect the just noticeable difference (JND) in a
price, which is the amount of price increase that can be taken without affecting
customer demand.
When you re-order products that are used on a consistent basis, it is called a ________.
A.Purchase
B.Order on demand
C.Two-bin inventory system
D.Modified order on demand
E.Straight rebuy
Many products are purchased so often (like office supplies, raw materials) that it is not
necessary to evaluate every purchase decision. So companies simply reorder them when
needed. This type of purchase is called a straight rebuy.
____________ is the communication and sale of products or services to consumers over
the Internet.
A.Vending machine retailing
B.Personal selling
C.Electronic retailing
D.Direct selling
E.Television home shopping
Electronic retailing is the communication and sale of products or services to consumers
over the Internet.
__________________ is (are) considered by the customer when making a purchase
decision.
A.Time invested in the purchasing process
B.Costs incurred by the customer in acquiring that bundle of benefits
C.Opportunity costs of choosing one offering over another
D.A & C
E.A, B & C
Time invested in the purchasing process, the price of the offering, and opportunity costs
are taken into consideration by customers when making a purchase decision.
A customer’s in-store experience is based on ________________.
A.Helpful sales staff.
B.Policies that make it easy to return merchandise for credit or refund
C.Convenient store hours
D.All of the above
E.None of the above
The in-store experience is based on everything the customer experiences while
shopping including the service, the physical surroundings, and the products.
The manager of Big Brand Clothing wants to get a feel for what items consumers are
looking for this Christmas so that he can plan his orders. He decided to gather this data
by stationing employees outside the store on a particular Saturday with a list of
questions to ask to some willing shoppers. He is using a ____ method to select
respondents.
A.Probability Sample
B.Random Sample
C.Systematic Sample
D.Nonprobability Sample
E.Census
In nonprobability sampling, the probability of everyone in the population being
included in the sample is not identified. Exactly how many people will visit the store on
that Saturday cannot be predicted and so the probability of everyone in the population
being included in the sample can not be identified.
Companies that conduct research using focus groups, consumer surveys, and in-person
interviews most likely have a ____________.
A.Production orientation
B.Selling orientation
C.Marketing orientation
D.Buzz marketing orientation
E.Business orientation
The notion of market orientation takes the guiding business philosophy of the
marketing concept and works to more usefully define just how to implement it within a
firm.
Positioning strategy is a process that often starts with ______.
A.Focus groups
B.Surveys of customers
C.Perceptual maps
D.Gap analysis
E.None of the above
Many positioning studies start with focus groups that allow participants to talk about
aspects of their experiences with a product. From the focus groups, a set of attributes is
developed for further analysis.
Graduating from college, getting married, and having a child all transform an
individual’s buying habits and refer to characteristics of the ______.
A.Lifecycle buying stage
B.Family life cycle
C.Life stage cycle
D.Lifestyle cycle
E.Family life stage
Changes in life stage (like graduating from college, getting married, or having a child)
transform an individual’s buying habits and are referred to as the family life cycle.
These life changes mirror the individual’s family environment.
Apple will not buy more processors from Intel if Intel lowers the price nor will it buy
fewer chips if Intel raises the price. This is an example of ________.
A.Inelastic demand
B.Elastic demand
C.Codependent demand
D.Derived demand
E.Fluctuating demand
When a company will not buy more or less with price changes it is said that the demand
is inelastic.
_______________ is the third phase in the process cycle for CRM.
A.Analysis and refinement
B.Supplier interface
C.Customer interaction
D.Knowledge discovery
E.Marketing planning
The customer interaction phase represents the actual implementation of the customer
strategies and programs and it is the third phase in the CRM process cycle.
Dell used its brand to expand into new areas including printers and consumer
electronics such as LCD and plasma televisions. Dell engaged in a ______ extension.
A.Natural
B.Line
C.Random
D.Category
E.Basic
A company can use its brand to expand into product categories, known as a category
extension. Since Dell used its brand to expand into new product categories, it engaged
in a category extension.
The marketing manager for Moderate-Mart is planning a new promotional campaign to
the zip codes in a 3-mile radius around each of his stores. In order to be effective with
this campaign he would like demographic information on these zip codes. _________
would be the best secondary sources of data for this information.
A.Surveys
B.Market Research Organizations
C.Government Sources
D.The library
E.Observation
Federal, state, and local governments are an important resource in collecting
information on a variety of topics and often this information is available by zip codes.
A ________________ represents all organizations involved in supplying a firm, the
members of its channels of distribution, and its end-user consumers and business users.
A.Warehouse system
B.Supply chain
C.Market information system
D.Value chain
E.Quality circle
The supply chain represents all components in the channel from producer to the
consumer.
What is geodemographic segmentation and what are PRIZM clusters?
Sophie works for Music Masters, a company that creates a line of speakers for use in
both indoor and outdoor settings. The company has just finished creating a new line of
products for the holiday season and Sophie is looking to set the pricing. Sophie wants to
have all of the items in the new product line to have complementary pricing. What
would be the best pricing strategy for Sophie to implement?
You decided to open a sports bar with your best friend and are now trying to decide
between two suppliers. What do you consider when making your final decision?
Explain the difference between IMC and the historical approach to promotions.
Jill, who lives in Florida, needs to purchase a winter coat, an infrequent shopping task.
List the eight product discriminators she will use in determining her ultimate purchase.
Mackenzie has been researching business to consumer electronic retailing. She has been
trying to determine if electronic retailing really reduces barriers to entry, or if the bigger
retailers still dominate the industry. She has finished her research, what did she find
out?
How do government purchase practices differ from other B2B purchase practices?
Identify and describe the most often used sources of differentiation?
How does a firm connect its value proposition to the target market?
Long-term oriented firms need to be aware of change drivers that most likely will have
a significant impact on the future of marketing and business in general. What areas of
shift do you recommend these firms study?