When selecting a media vehicle, the media planner looks both at the total cost of using
a medium and at the ________.
A) cost per thousand persons reached
B) cost of premium offers
C) cost of the magazine it is using
D) profit margin
E) continuity cost
Ways to avoid accusations of price gouging include ________.
A) bundling products together
B) matching competitors’ pricing
C) communications to customers explaining why prices are being increased
D) passing along increased costs
E) increase quality of the product
A company will likely identify qualified suppliers by doing all of the following
EXCEPT ________.
A) online searches
B) reviewing trade directories
C) phoning other companies for recommendations
D) placing classified advertisements
E) being contacted by salespeople of qualified firms
A firm that uses the selling concept takes a(n) ________ approach.
A) outside-in
B) niche marketing
C) inside-out
D) societal marketing
E) customer-driven
With a(n) ________ marketing strategy, a firm goes after a large share of one or a few
smaller niches.
A) individual
B) mass
C) concentrated
D) differentiated
E) local
________ involves actually distinguishing the firm’s market offering to create superior
customer value.
A) Mass customization
B) Differentiation
C) Market segmentation
D) Diversifying
E) Targeting
If a company’s aim is to make its own and competing products obsolete and serve
customers who want state-of-the-art products and services, it is using a value discipline
called ________.
A) overall cost leadership
B) product activation
C) product binning
D) product leadership
E) customer intimacy
Which of the following refers to a set of benefits that a company promises to deliver to
customers to satisfy their needs?
A) customer lock-in
B) a cartel
C) marketing mix
D) value proposition
E) market segmentation
Reasons sellers go beyond what is required by pricing regulations include all of the
following EXCEPT that ________.
A) it is good business to treat customers fairly
B) customers that fully understand prices and pricing terms are happy customers
C) word-of-mouth from dissatisfied customers spreads rapidly
D) building strong and lasting relationships is key to business success
E) it improves profitability to earn additional revenue due to customer confusion
A large retailer of home improvement and construction products offers “how-to” classes
for do-it-yourselfers, featuring instructions on how to complete home improvement
projects using products sold at its stores. This is an example of how the retailer has
differentiated itself through its ________.
A) product assortment
B) services mix
C) segmentation
D) atmosphere
E) pricing
“Losing a customer once means losing the entire stream of possible purchases that the
customer would make over an extended period of patronage.” This statement
specifically indicates loss in terms of ________.
A) customer-perceived value
B) marketing offerings
C) partner relationship management
D) customer lifetime value
E) value proposition
In the beginning of the buying process, Timothy Perry, a product development manager,
noticed that the raw materials that were being procured from his company’s regular
supplier were of poor quality. Consequently, he decided to change the existing supplier
as a remedial measure. The stage of the buying process in which Timothy identified the
quality breach represents the ________ stage.
A) problem recognition
B) general needs description
C) product specification
D) supplier search
E) performance review
Which of the following is an adverse effect of using promotional pricing?
A) It makes shopping stressful if used by multiple stores simultaneously.
B) It erodes the value of competing brands in the eyes of customers.
C) It gives pricing secrets away to competitors.
D) It creates “deal-immune” customers if used often.
E) It delays the company’s focus on short-term strategies.
Which of the following is most likely a shortcoming of advertising?
A) It is the most expensive promotion tool.
B) It cannot reach masses of geographically dispersed buyers.
C) It is impersonal and lacks the direct persuasiveness of company salespeople.
D) It cannot trigger quick sales.
E) It cannot be used to build up a long-term image for a product.
Marketers respond to charges of high advertising and promotion costs that
unnecessarily increase retail prices, by arguing that advertising and promotion
________.
A) support consumerism
B) standardize the product
C) add quality to the product
D) provide information about a product
E) help increase competition in the market
A business purchase usually involves all of the following EXCEPT ________.
A) more decision participants
B) manufacturing representatives
C) more professional purchasing effort
D) trained purchasing agents
E) high-level trained supply managers
Tomorrow’s leading companies will succeed by seeking out unoccupied positions in
uncontested market spaces. Such strategic moves, termed ________, create powerful
leaps in value for both the firm and its buyers, creating new demand for new products.
A) customer lifetime value
B) customer equity
C) value innovation
D) market segmentation
E) customer intimacy
Shine Enterprises mass produces an all-purpose floor cleaner that is aimed at the whole
market. This firm uses a(n) ________ marketing strategy.
A) segmented
B) undifferentiated
C) individual
D) niche
E) one-to-one
A shoe manufacturing company uses ads featuring the members of a country music
band with the hope that the band’s fans will see them wearing the company’s shoes and
hence purchase the same brand of shoes. The shoe company believes that the band
portrays the image of a ________ to the band’s fans.
A) membership group
B) reference group
C) status symbol
D) subculture
E) lifestyle
________ involves adding more items within the present range of the product line.
A) Market diversification
B) Brand extension
C) Product line filling
D) Upward product line stretching
E) Downward product line stretching
What causes a specific brand’s life cycle to change quickly?
A) costs of raw materials
B) changing demographics
C) shift in company strategy
D) competitive attacks and responses
E) new technology
The competitive intelligence system continuously collects information from the field
through ________.
A) government publications
B) online monitoring
C) speeches
D) online databases
E) market surveys
Capitalizing on the customer’s complaints about the previous detergents she has used,
Sheila, a salesperson, explains to the customer why her company’s detergent Swish is
better and how it can be a one-stop solution for everyday washing. In which of the
following steps of the selling process is Sheila?
A) follow-up
B) handling objections
C) preapproach
D) presentation
E) prospecting
Buyers who face a ________ usually go through all stages of the buying process.
A) straight rebuy
B) modified rebuy
C) new task buying situation
D) routine buying situation
E) need for limited problem solving
People vary in their attitudes toward their society—while ________ defend it,
malcontents want to leave it.
A) reformers
B) patriots
C) activists
D) environmentalists
E) historical revisionists
Companies often fail to integrate their various messages to consumers because
________.
A) historically, consumers have been able to distinguish between message sources
B) advertising departments are reluctant to work with public relations professionals
C) communications often come from different parts of the company
D) personal selling and sales promotion are in direct conflict
E) firms have overemphasized the concept of brand contact
Installations consist of ________.
A) highly priced luxury goods such as Rolex watches
B) portable office equipment such as computers
C) major purchases such as elevators
D) portable factory equipment such as hand tools
E) products such as insurance
A(n) ________ marketing system consists of producers, wholesalers, and retailers
acting as a unified system.
A) horizontal
B) communal
C) multitiered
D) vertical
E) equilateral
Monty Boyd, an account manager, travels frequently on West Coast Airlines. Monty
earns points for every mile he flies, and he will soon have enough points to receive a
free airline ticket. West Coast Airlines is attempting to build a strong customer
relationship with Monty through a ________.
A) trade promotion
B) promotional product
C) rebate offer
D) point-of-purchase promotion
E) frequency marketing program
Which of the following best characterizes the decline stage of product development?
A) rapid market acceptance
B) slow sales growth
C) sales and profits decline
D) high investment costs
E) increasing profits
Beth Williams works for a marketing research company in Chicago. Her current
research involves finding the market potential for a client’s new line of sports apparel.
Given her objective, which of the following types of research is the most suitable for
Beth?
A) causal research
B) constructive research
C) statistical research
D) descriptive research
E) exploratory research
Samsung and Apple actively generate new ideas, relentlessly pursue new solutions, and
quickly work to get new products to market. They serve customers who want
state-of-the-art products and services, regardless of the costs in terms of price or
inconvenience. Which of the following value disciplines is illustrated from this
example?
A) operational excellence
B) customer intimacy
C) product leadership
D) product activation
E) product binning
Demographic characteristics, geographic characteristics, economic factors,
sociocultural factors, and political and legal factors all help a company ________.
A) determine a market’s potential
B) determine a country’s degree of globalization
C) evaluate its marketing objectives
D) evaluate its value delivery network
E) determine a country’s income distribution
Apart from retaining good customers, most marketers want to constantly increase their
“share of customer.” What does this mean in marketing terms?
A) Marketers want to increase their market share.
B) Marketers want to increase the share they get of the customer’s purchasing in their
product categories.
C) Marketers want to diversify their operations and customize their products to cater to
the entire market.
D) Marketers want to continuously increase their customers’ levels of satisfaction.
E) Marketers want to turn satisfied customers into delighted customers.
The marketing world is most likely embracing ________ because consumers wield
greater power now with many platforms for airing and sharing their brand views with
other consumers.
A) partner relationship management
B) supply chain management
C) customer-managed relationships
D) market segmentation
E) consumer ethnocentrism