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A discount store buys at less-than-regular wholesale prices and charges consumers less
than retail.
Good marketing communications can speed the demise of a poor product.
Psychographic segmentation divides buyers into different segments based on lifestyle or
personality characteristics.
JumBo Games is in the commercialization stage. The first decision that the firm should
make while introducing the product in the market is introduction timing.
Niche marketing involves tailoring brands and promotions to the needs and wants of
local customer groups—cities, neighborhoods, and even specific stores.
For market skimming to be successful, the costs of producing a smaller volume cannot
be so high that they cancel the advantage of charging more.
Standardization of advertising leads to lower advertising costs, greater global
advertising coordination, and a more consistent worldwide image.
The role of marketing intermediaries is to transform the assortments of products made
by retailers into the assortments wanted by producers.
Professional athletes such as Peyton Manning and Maria Sharapova are featured in
advertisements for Gatorade. According to this information, Gatorade is utilizing
branded entertainment.
Each department in a company can be thought of as a link in the company's internal
value chain.
The major criticisms of marketing include harming consumers through high prices,
deceptive practices, high-pressure selling, shoddy or unsafe products, planned
obsolescence, and poor service to disadvantaged countries.
Dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors, and who might require separate products or marketing
programs is known as market diversification.
The buying center is a fixed and formally identified unit within the buying organization.
Formulated marketing focuses on the entrepreneurial aspects of marketing.
Salespeople are only evaluated on the number of sales they close within a certain time
frame.
In a straight rebuy, the buyer wants to alter product specifications, prices, terms, or
suppliers.
The relative power of buyers affects segment attractiveness.
At the narrowest level, a company can define its competitors as other companies
offering similar products and services to the same customers at similar prices.
As mass markets have fragmented, marketers have shifted away from mass marketing.
Marketers usually limit their segmentation analysis to only one major variable.
The institutional market is characterized by high budgets, while its buying objective is
profit.
"At Joe's Diner, we serve great burgers" is a product-oriented business definition.
Telemarketing is especially effective for business-to-business marketers.
All companies must have salespeople.
Internal information is almost always sufficient for making marketing decisions.
A company's Web site can be an important public relations vehicle.
Derived demand refers to the business demand that ultimately comes from the demand
for consumer goods.
The benefits of e-procurement include access to new suppliers, lower purchasing costs,
and more time-efficient order processing and delivery.
An advantage of a competitor-centered company is that it ends up simply matching or
extending industry practices rather than seeking innovative new ways to create more
value for customers.
A neighborhood shopping center has from 50 to more than 100 stores.
Market segmentation is the process of seeking fewer customers and reduced demand for
profit maximization only.
The popularity of cause-related marketing as a form of corporate giving is rapidly
declining.
In the territorial sales force structure, each salesperson is responsible for selling a
single, exclusive product across different geographical regions.
Dynamic pricing is least prevalent online.
Markup pricing is popular because when all firms in the industry use this pricing
method, prices tend to be similar, so price competition is minimized.
UNASUR is the economic community of South American nations.
Experimental research is best suited for gathering descriptive information.
Creating a brand-marketing event or serving as a sole or participating sponsor of events
created by others is known as event marketing.
According to the Boston Consulting Group approach, ________ provides a measure of
market attractiveness.
A) product attribute
B) product design
C) market penetration
D) market growth rate
E) market segmentation
Which of the following refers to a marketing intelligence technique?
A) interviewing customers randomly
B) increasing the annual budget for R&D
C) investing heavily in primary research
D) implementing product diversification
E) benchmarking competitors' products
Which of the following is true of the exclusive distribution strategy?
A) It makes products available to everybody, everywhere.
B) It is used primarily for convenience items.
C) It helps promote a brand's luxury image.
D) It gives producers no control over their products.
E) It enlists all of the intermediaries willing to carry a company's products.
In 2011, the fixed costs of a company were $500,000, and its variable costs equaled
$150,000. In 2010, the company made an annual profit of $200,000. It has been
predicted that, despite a steady growth, the company's variable costs will likely equal
$300,000 by 2013. The total costs of the company in 2011 were ________.
A) $350,000
B) $450,000
C) $650,000
D) $800,000
E) $950,000
A(n) ________ is a segment of the population selected for marketing research to
represent the population as a whole.
A) focus group
B) immersion group
C) primary group
D) sample
E) secondary group
A(n) ________ is a person's relatively consistent evaluations, feelings, and tendencies
toward an object or idea.
A) lifestyle
B) motive
C) belief
D) attitude
E) perception
Which of the following is most likely true about international research?
A) The availability of good secondary data makes international research rewarding.
B) The costs of conducting international research are much higher than the benefits
offered.
C) Technology enables customer responses to be translated quickly and accurately.
D) Costly international research is necessary if firms want to succeed in foreign
markets.
E) Interpretations of data are fairly consistent among different countries.
Robin works in a manufacturing company in Ohio. She sells products and handles
customer requests via the company's online live chat feature. In her company, Robin is
most likely a part of the ________.
A) outside sales force
B) inside sales force
C) product designing team
D) operations management team
E) executive management
Which of the following terms refers to sellers being preoccupied with their own
products and losing sight of underlying consumer needs?
A) vendor lock-in
B) social loafing
C) value proposition
D) marketing myopia
E) conspicuous consumption
Which type of retailer is most likely to require its employees to focus most on assisting
customers as they shop?
A) self-service retailer
B) full-service retailer
C) off-price retailer
D) limited-service retailer
E) convenience retailer
Teen Mania Inc., a company marketing adventure sports merchandise for teenagers,
targets the world's teenagers, who have similar needs and buying behavior even though
they are located in different countries. Which market segmentation is evident here?
A) income segmentation
B) psychographic segmentation
C) gender segmentation
D) intermarket segmentation
E) occasion segmentation
Specialty stores carry ________ with ________ within them.
A) only convenience products; shallow assortments
B) narrow product lines; deep assortments
C) narrow product lines; shallow assortments
D) wide product lines; shallow assortments
E) wide product lines; deep assortments
Under ________, the market consists of many buyers and sellers who trade over a range
of prices rather than a single market price.
A) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) the dominant firm model
Stop-N-Go , 7-Eleven, and Circle K are examples of ________.
A) department stores
B) convenience stores
C) category killers
D) specialty stores
E) supermarkets
________ refers to gathering primary data by selecting matched groups of subjects,
giving them different treatments, controlling related factors, and checking for
differences in group responses.
A) Experimental research
B) Constructive research
C) Observational research
D) Survey research
E) Descriptive research
Bead Beautiful is a jewelry brand targeted at preteen girls. What needs do NOT fit with
this audience, as the marketing team develops a value proposition for Bead Beautiful?
A) variety of colors in products
B) price
C) quality of materials
D) mature designs
E) ease of availability
What is a significant issue for social media and for companies using it as a marketing
tool?
A) measuring viewership
B) creating content
C) identifying target markets
D) monetizing the tool
E) recognizing effective social media sites
Before a company decides to go global, it must evaluate all of the following
environments EXCEPT the ________ environment.
A) cultural
B) natural
C) political-legal
D) global marketing
E) economic
Marketers respond to criticism about the value of promotion by showing that ________.
A) brand name products cost more
B) functional value also matters
C) development costs should be covered in the price of the product
D) consumers want and are willing to pay more for products that provide psychological
benefits
E) the services provided are demanded by customers
Each company must divide up the total market, choose the best segments, and design
strategies for profitably serving chosen segments. This process involves market
segmentation, ________, differentiation, and positioning.
A) market targeting
B) marketing implementation
C) supply-chain analysis
D) price discrimination
E) market diversification
When the seller allows only certain outlets to carry its products, this strategy is called
________.
A) exclusive distribution
B) subjective dealing
C) selective distribution
D) exclusive pricing
E) disintermediation
Macy's department stores carry a wide range of product lines, including clothing,
jewelry, kitchenware, and home furnishings. Macy's typically charges a relatively high
markup, but also holds frequent sales and price promotions, in particular offering
discounts to customers who use a Macy's credit card. Macy's uses ________.
A) self-service retailing
B) experiential retailing
C) high-low pricing
D) everyday low pricing
E) retail convergence
Which of the following is true about Internet-based survey research?
A) The effectiveness of Internet-based survey research is invariably affected by the
interviewer's bias.
B) Internet-based survey research is less flexible compared to mail questionnaires.
C) Internet-based survey research is characterized by high speed and low costs.
D) Typically, the quantity of data gathered in Internet-based survey research is low.
E) The response rate of Internet-based survey research is lower than that of mail
questionnaires.
Which of the following is true of contract manufacturing?
A) It provides a chance to start faster but with more risks.
B) It involves decreased control over the manufacturing process.
C) It leads to an increase in potential profits on manufacturing.
D) It is the simplest way to enter a foreign market.
E) It involves entering a foreign market by exporting surplus products.
The main section of the marketing plan most likely presents a detailed ________
analysis of the current marketing situation.
A) breakeven
B) SBU
C) SWOT
D) regression
E) cluster
Compare and contrast closed-ended questions and open-ended questions for gathering
data.
Kellogg ads in the United States promote the taste and nutrition of Kellogg's cereals
versus competitors' brands. In France, where consumers drink little milk and eat little
for breakfast, Kellogg's ads must convince consumers that cereals are a tasty and
healthful breakfast. Which marketing strategy is being followed by Kellogg?
A) straight product extension
B) product adaptation
C) product invention
D) communication adaptation
E) straight communication extension
Since business marketers have fewer buyers than consumer marketers, business buyers
often face ________ than do consumer buyers.
A) less complex buying decisions
B) shorter buying processes
C) informal buying processes
D) more complex buying decisions
E) fewer product details
Tourism Australia's global marketing campaign, "There's nothing like Australia" is an
example of ________ marketing.
A) corporate image
B) person
C) organization
D) internal
E) place
CellTones, a new company selling several types of cellular phones, has closely modeled
its products after successful products that are already in the marketplace. As it prepares
to enter the market with its new products and services, which of the following should
concern CellTones the most?
A) legal obligations to suppliers and dealers
B) patent laws
C) distribution requirements
D) product liability suits
E) limited warranties
What is product position? What functions do perceptual positioning maps serve?
Why is the technological environment such a dramatic force in today's market?
Listing them in the proper order, what are the stages in the buyer decision process?
Describe each.
Discuss direct and indirect exporting. What are the advantages of exporting?
Briefly explain the concept of brand equity.
Discuss why business legislation is enacted. Provide examples.
What are marketing intermediaries and what are the various types?
Explain why the aim of customer relationship management is to create not just
customer satisfaction, but also customer delight.
Alex works in the marketing department of an international company. How can Alex
use modern technologies to conduct market research and better serve his company's
customers?
How does strategic planning benefit companies?
Explain the difference between a consumer product and an industrial product. Include
an example.
What elements comprise a store's atmosphere?
What does a call plan show?
How might a firm benefit from implementing an "intrapreneurial" program?
Explain how and why marketers go beyond selling a product or service to create brand
experiences.
Discuss sales promotion.
Products and services fall into two broad classes based on the types of consumers that
use them. Name these two broad classes and describe how they are different from each
other.
