In-depth study of consumer consumption through interviews and observing behavior is
known as ethnographic research.
Market segmentation breaks mass markets into segments that have different buying
habits.
Measuring pupil dilation is a method used in readability tests.
Automobiles and gas are examples of complementary products.
Telemarketing and direct sales approach are part of sales promotion.
Production and consumption of services is inseparable.
Too many territories lead to salespeople fighting over the geographic boundaries.
The demand for an industrial product is derived from underlying consumer demand.
Organizations that buy products from a variety of vendors, assemble them in packages,
and resell the packages to specialized segments are known as original equipment
manufacturers.
Perceived value is always relative.
Products or services that solve a particular customers problem at a given point in time
are termed:
A) solutions.
B) experiences.
C) interactions.
D) relationships.
A kind of game in which competition leads to a less-than-optimum outcome for both
managers, is called:
A) budget outcome dilemma game.
B) prisoners dilemma game.
C) leader-follower dilemma game.
D) best strategy dilemma game.
The most common objective of a consumer promotion is:
A) short-run transactional goal.
B) short-run relationship-building goal.
C) long-run transformational goal.
D) long-run market share goal.
Which of the following stages of the classic linear approach of a new product
development process is related to continuous updating and refinement of products and
services?
A) idea generation
B) life-cycle management
C) business analysis
D) initial design and concept screening
Well-known, heavily supported brands made and distributed by large, often global
companies are known as:
A) generics.
B) value brands.
C) private labels.
D) national brands.
Which of the following indicates that the category is selling better than the brand?
A) low CDI and low BDI
B) low CDI and high BDI
C) high BDI and high CDI
D) high CDI and low BDI
Parfitt-Collins model is used to:
A) map customer needs to engineering characteristics of a product.
B) uncover product shortcomings.
C) forecast market share.
D) determine how customers value different levels of product attributes.
Which of the following statements is true regarding a “category killer”?
A) They sell products belonging to multiple categories.
B) They deal with companies through intermediaries.
C) Smaller retailers posses a significant threat to category killers.
D) They are also known as big box retailers.
Nonstandardization of services increases when:
A) service creation is automated.
B) service is delivered from a unique location.
C) service delivery is outsourced.
D) customer contact time is minimal.
Marketing managers use a market penetration strategy to target:
A) individuals who have never used the product or service.
B) offshore customers who have a need for the product or service.
C) individuals who are buying your product or service or a direct competitors.
D) individuals who buy closely-related products or services.
Once the decision has been made to enter a country, the most important decision is:
A) the cost of entry.
B) the mode of entry.
C) the distribution strategy of the firm.
D) pricing the product.
High buyer power tends to ________ prices and high supplier power ________ the
floor beneath which prices cannot be set.
A) inflate; raises
B) inflate; lowers
C) depress; raises
D) depress; lowers
If a brand pursues a profit objective at the expense of share loss, the objective is usually
called a ________ if the ultimate intention is to drop the product.
A) growth objective
B) investment objective
C) market share objective
D) harvest objective
For some products, channels may actually be part of the manufacturing process by
performing certain production functions. Identify this channel function.
A) financing
B) risk taking
C) relationship management
D) product assembly
Which of the following methods of collecting data has the highest response rate?
A) personal interviews
B) telephone interviews
C) mail
D) Internet
With reference to a product-industry hierarchy, a product type encompasses:
A) a product class.
B) an industry.
C) product variants.
D) a product category.
Which of the following approaches to new product development consists of a funnel
like process where the number of concepts diminishes after each step because some will
fail the test at each stage?
A) the Classic Linear Approach
B) the Rugby Approach
C) the Cost Differential Approach
D) the Target Costing Approach
For frequently purchased products, ________ is critical to success because there are not
enough new, untapped buyers to sustain a low-priced product for long.
A) test marketing
B) volume discounts
C) repeat buying
D) market penetration
The strongest measure of a brands value is:
A) brand awareness.
B) perceived quality.
C) brand associations.
D) brand loyalty.
Companies such as Kellogg, IBM, Microsoft, and Intel hire individuals from which one
of the backgrounds below to help them better understand their competitors and predict
their likely future strategies?
A) DEA
B) FDA
C) CIA
D) FBI