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The ultimate goal of most market-oriented firms is profitability that results from
satisfying the wants and needs of its consumers.
a. True
b. False
Answer:
What are the four basic tasks of promotion?
a. Informing, persuading, instituting and convincing
b. Persuading, convincing, remixing, and reminding
c. Informing, providing, convincing, and reminding
d. Informing, persuading, reminding, and connecting
e. Persuading, implementing, comparing, and reminding
Answer:
An article in Business Week about the reengineered Honda CRV is an example of:
a. a sales promotion.
b. free advertising.
c. direct marketing communications.
d. newspaper advertising.
e. publicity.
Answer:
All of the following are criteria for successful market segmentation EXCEPT:
a. substantiality
b. identifiability and measurability
c. accountability
d. accessibility
e. responsiveness
Answer:
DeFeet International
DeFeet International started as a cyclist sock company. The founder, Shane Cooper, said
that the existing socks for cyclists were just not of great quality, so he made socks for
his cycling team by knitting them inside out. The socks were of special materials aimed
at giving the cyclist the most comfortable fit. These socks were not the traditional white
socks but were bright, bold, and flashy colored socks with cool graphics. These
high-tech socks were priced around $10 a pair. Their Web site says "DeFeet Is Made for
Driven Soles." Soon, cycling elites like Lance Armstrong and Greg LeMond were
sporting the DeFeet brand. The company branched into running, hiking, and snow gear.
Products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the
serious athlete. DeFeet has a custom department where socks, armskins, and gloves can
be personalized with any motif, including sponsor types of logos like Michelin, Pabst
Blue Ribbon, or BP. Even kids can enjoy DeFeet's highquality socks. DeFeet's products
can be found in retailers across the world""in more than 20 countries like Israel,
Australia, Belgium, and the United States. More than two dozen online retailers also
carry DeFeet products.
What is the most critical element in successful strategic planning?
a. Creativity
b. Top management support and participation
c. Continual attention
d. The use of a BCG portfolio matrix
e. A stringent and narrow mission statement
Answer:
Services are considered inseparable because most services cannot be felt or touched in
the same way most goods can be sensed.
a. True
b. False
Answer:
Apple, Inc. has stores, a Web site, and a toll-free phone number where consumers can
provide valuable information to the company in developing a CRM system. All these
possible areas of the company where consumers can communicate with the business are
called:
a. touch points.
b. focus areas.
c. data mining.
d. information search periods.
e. experimental points.
Answer:
Piper Corporation makes aircrafts. It produces several different planes for three
categories of customer: Professional, Personal, and Trainer. What type of targeting
strategy is Piper using?
a. Demand positioning
b. Concentrated
c. Undifferentiated
d. Multisegment
e. Market differentiation
Answer:
Each labor and delivery room at the new Dekalb County Medical Center has hardwood
floors, soft lighting, and mission-style furniture. The facility also features a stone
fireplace in the lobby, a bistro-style restaurant, and VIP suites for discerning
mothers-to-be. This unique design and furnishings give the medical center a:
a. profit-enhanced advantage
b. competitive advantage
c. quality objectivity
d. strategic strength
e. tactical opportunity
Answer:
There are two important markets for many component parts: the original equipment
market and the market.
a. replacement
b. processed materials
c. accessory
d. raw materials
e. integrated parts
Answer:
The research design specifies:
a. follow-up procedures for the research
b. the information that will be found
c. how the final report will be written
d. how the information gathered will be used to predict external environmental changes
e. the research questions to be answered
Answer:
Which of the following is NOT an advantage of an undifferentiated marketing strategy?
a. effectively protects firm from competition
b. very cost effective
c. low complexity
d. reaches anyone
e. offers a single channel of distribution
Answer:
BaseballDirt
Dirt is not dirt when it comes to baseball fields. About two-thirds of the pro baseball
fields get their dirt from a dirt farm in New Jersey called Partac Peat. The company
markets a secret mix for the infield (resilient), the warning track (extra crunchy), and
the pitcher's mounds (firm). Mounds come in red, brown, orange, and gray colors.
Roger Bossard, the White Sox head groundskeeper, scouted nationwide for dirt before
settling on the mix provided by Partac Peat. (He uses sand under the grassy areas of the
playing field.)
Refer to Baseball Dirt. Roger Bossard, the White Sox head groundskeeper, most likely
did NOT assume which of the following buying center roles since he has the authority
to buy whatever is needed to make the baseball field the best playing surface possible?
a. Gatekeeper
b. Decider
c. Evaluator
d. Influencer
e. Initiator
Answer:
Only a firm's salespeople need to be customer oriented.
a. True
b. False
Answer:
E-cigarettes
Smoking inflames nonsmokers and claims the lives of more than 400,000 smokers each
year, so the electronic cigarette is a welcomed alternative. Electronic cigarettes, called
e-cigarettes, are battery-powered devices that emit a vapor from nicotine, flavorings,
and other chemicals. It looks like a cigarette and allows smokers to inhale the nicotine
vapor in places where smoking is not allowed. The product has been touted as a means
to quit smoking as well. However, critics, especially the Food and Drug Administration
(FDA), claim that "vaping" poses risks. In fact, the FDA claims its tests revealed a toxic
chemical that is found in antifreeze as well as other carcinogens. The FDA blocked a
shipment of the product from China and banned the sale of this product in the United
States. In addition to the safety issue, the FDA is concerned that children might be
attracted to this product because it comes in flavors other than traditional menthol, such
as bubble gum, chocolate, and strawberry. The FDA wants this product to go through
the same rigorous testing that drugs must go through before being marketed. However,
the FDA's authority over this product is questioned. While Congress has recently given
the FDA authority over tobacco products, this is not a tobacco product and the
Electronic Cigarette Association is fighting the ban.
This innovative product was developed from changes in which environment?
a. Demographic
b. Technological
c. Economic
d. Social
e. Competitive
Answer:
When Krispy Kreme decided to expand its operation internationally, it chose to first
make its doughnuts available in Canada to minimize its risk. In accordance with the
policy of risk minimization, the company sold the right to manufacture and sell its
doughnuts to Canadians. In other words, Krispy Kreme used:
a. contract manufacturing
b. direct investment
c. importing
d. a strategic alliance
e. licensing
Answer:
Define self-concept. Choose a product (i.e., a good, service, or idea), and use that
product to illustrate how a marketer would apply the idea of self-concept to market the
product.
Answer:
A(n) ____ is a group of people in a society who are considered nearly equal in status or
community esteem, who regularly socialize among themselves both formally and
informally, and who share behavioral norms.
a. extended family
b. subculture
c. dissociative group
d. social class
e. procreational family
Answer:
Juan is a marketing professor researching consumer decision-making processes.
Specifically, he is examining if including a picture in a print advertisement is more
effective than not including a picture in influencing readers' attitude toward the
advertisement and brand advertised. He is not researching any specific brand, but rather
he is interested in testing Dual Coding theory that predicts that pictures will have a
more positive impact on attitudes. Juan is conducting _____research.
a. secondary
b. basic
c. applied
d. complex
e. synergistic
Answer:
The consistency and reliability of a service can be increased by:
a. making sure that consumers are present during the production of the service.
b. eliminating credence quality.
c. standardization and training,
d. Simultaneous production and consumption
e. raising prices.
Answer:
Which type of retail store specializes in a given type of merchandise?
a. An independent store
b. A department store
c. A discount store
d. A specialty store
e. A first-level store
Answer:
All of the following are types of service processing that can occur EXCEPT:
a. people processing.
b. product processing.
c. possession processing.
d. information processing.
e. mental stimulus processing.
Answer:
EffectiveSocialMedia
Many marketers define their social media objectives around five core concepts: (1)
listening""understanding what customers are saying and who those customers are, (2)
talking""promoting products/services through conversations with customers, (3)
energizing""finding enthusiastic customers and using them to sell to others, (4)
supporting""enabling customers to help one another, and (5) embracing""using
customers as a source of product innovation. Marketers should also keep in mind that,
more and more, customers expect companies to use social media. According to a recent
survey, more than half of all consumers want ongoing conversations with companies
and brandsand of consumers who use social media themselves, a whopping 85 percent
believe that companies should have an active social media presence. Marketers who
embrace such consumers can harness the power of social media and ultimately improve
profits and brand loyalty.
Refer to Effective Social Media. Which of the following resources would be MOST
likely to help an organization achieve the goal of energizing customers?
a. Buzzillions, a product review site that works with retailers to identify customers who
have purchased products and asks them to write reviews
b. Google Analytics, a free service that shows businesses how visitors found their site
and how they interact with it
c. Site Volume, a service that measures the frequency of search terms across Tumblr,
Facebook, and YouTube
d. Converseon, a service that helps marketers find out what people are saying about
their product/brand on newsgroups, blogs, podcasts, and social media sites
e. InnoCentive, a service that enables its clients to source ideas from their customers
Answer:
In terms of firm-to-firm social interactions, ____ integration provides important
benefits.
a. relationship
b. measurement
c. customer
d. production
e. technology and planning
Answer:
On average, just over $156 is spent on or by every American teen each week.
a. True
b. False
Answer:
Which of the following is LEAST likely to be described as a subculture?
a. Bank managers
b. Hispanics
c. College students
d. Southeasterners
e. Quakers
Answer:
A product line is a group of products that are closely related because the:
a. products share the same product managers.
b. products all function in a similar manner and provide similar benefits.
c. same company has developed the idea for each product.
d. products are all sold under the same brand name.
e. products are all priced about the same.
Answer:
Jeni's Splendid Ice Creams is famous for its unusual flavors, such as Wildberry
Lavender, Goat Cheese with Red Cherries, and Sweet Corn and Black Raspberries.
Which of the following product characteristics would most likely influence the market
success of these flavors?
a. Compatibility
b. Comparability
c. Complexity
d. Tangibility
e. Competitive advantage
Answer:
To increase its revenues, US Airways has decided to sell space on airsickness bags to
companies that would like to use this unique channel for their promotional messages. In
terms of the promotional strategy, the airsickness bags will be used for:
a. implicit communications.
b. publicity.
c. sales promotion.
d. public relations.
e. Advertising.
Answer:
The demand management process seeks to align supply and demand throughout the
supply chain by anticipating customer requirements at each level of creating
demand-related plans of action prior to actual customer purchasing behavior.
a. True
b. False
Answer:
