Research has found that, similar to human relationships, people find comfort and
satisfaction with brands to which they are loyal.
Advertising has traditionally been defined as any paid or unpaid form of personal
communication about an organization, product, service, or idea by an identified
sponsor.
From the customers perspective, the unique problems associated with the marketing of
technology based products are concentrated largely in the late growth or maturity stage
of the product life cycle.
When profit based quotas are used it is more difficult for the salesperson to know where
she or he stands in relation to the quota than when sales volume€based quotas are used.
A panel is a set of customers who are enlisted to give responses to questions or to
provide data repeatedly over a period of time.
In most occasions, customers will be able to tell what products they want and need.
In case of an indirect channel, the company has direct contact with the end-customer.
A direct channel is one where the product or service remains under the control of the
company from production to customer.
Industries with a large number of competitors offer the best potential for using game
theory because, with a large number of competitors, it is easier to envision the possible
strategies and payoff matrix.
Contests and sweepstakes fall under the category of promotions known as special
events.
In the rugby approach to product development, a bottleneck at one phase stops the
whole process.
The bottom line of the competitor analysis is a forecast of their likely marketing
strategies over the next year.
Inquiry test is a type of laboratory test.
Canon sells laser printer engines to Hewlett-Packard for its LaserJet line. Here Canon
acts as a value-added reseller.
Marketing research studies often focus on your customers or potential customers and
rarely are ex-customers analyzed.
Which of the following best describes the pricing objective typically used by regulated
utilities such as gas and electricity?
A) penetration pricing
B) skimming
C) investment pricing
D) competitive pricing
Entering foreign markets is an example of a:
A) product development strategy.
B) market penetration strategy.
C) market development strategy.
D) market modification strategy.
According to the VALS system developed by SRI International, ________ are poor,
ill-educated, low-skilled, and elderly, with concerns about their security and safety.
A) strivers
B) survivors
C) believers
D) thinkers
In order for the brand to remain healthy, the least value of the consumer
franchise-building percent ratio should be:
A) 20 percent.
B) 40 percent.
C) 50 percent.
D) 70 percent.
________ attributes are characteristics, the quality of which can be assessed before
purchase.
A) Search
B) Experience
C) Credence
D) Solution
A study has identified four different segments of consumers that exist with respect to
their attitudes towards global brands. Identify the largest segment.
A) global dreamers
B) global citizens
C) antiglobals
D) global agnostics
Most industrial markets are not mass markets because:
A) the required raw material is scarcely available.
B) transporting the industrial equipments is very difficult.
C) the supply chain involved in industrial markets is very complicated.
D) the products are highly specialized in nature.
This is the person in an organization who has the ultimate authority for a “go-no-go”
purchase decision.
A) the initiator
B) the influencer
C) the decider
D) the purchaser
If a company is using “branded house” strategy, it will introduce:
A) co-brands.
B) corporate parent brands.
C) ingredient brands.
D) distinct product brands.
Strategically pricing below customer value is called:
A) price skimming.
B) value pricing.
C) pricing to value.
D) price discrimination.
Identify the source of conflict when the perception of who owns a particular sector
differs from channel participants.
A) goal divergence
B) domain dissensus
C) differing perceptions of reality
D) misuse of power
Which of the following is true about direct marketing?
A) It is difficult to evaluate the effectiveness of direct marketing.
B) Direct marketing is not the best way of communication when targeting a specific
audience.
C) Direct marketing anticipates a long-term response.
D) Many customers are put off by direct marketing efforts.
Which of the following best describes the costs that must ultimately be covered by
revenues from individual products, but are not associated with any one product?
A) development costs
B) variable costs
C) direct fixed costs
D) overhead costs
According to the Boston Consulting Group (BCG) matrix, when the market growth of a
product is low but the relative market share is high, it is known as a:
A) cash cow.
B) dog.
C) star.
D) problem child.
Which of the following types of sales quotas encourage salespeople toward the products
and services that are the most profitable to the company, as opposed to those that have
the highest prices or are easiest to sell?
A) sales volume based quota
B) profit based quota
C) combination quota
D) market based quota
Setting an objective of gradual share decline with minimal investment to maximize
short-run profits is known as:
A) skimming.
B) penetration.
C) scanning.
D) harvesting.