Viral marketing is a form of online word of mouth, or word of mouse, that encourages
consumers to pass along company-developed products and services or audio, video, or
written information to others online.
During the introduction stage of the product life cycle, firms are likely to use cost-plus
pricing.
Of all illiterate adults in the world, two-thirds are women.
If a company finds that a consumer has chosen a competitive product over their
company’s offering, one way to get the consumer back could be by developing a
strategy wherein the company ‘shifts the buyer’s ideals” on one or more levels.
Employees can be a source of ideas for improving production, products, and services.
Most companies today are trying to increase the order-to-payment cycle.
A company is customerized when it is able to respond to individual customers by
customizing its products, services, and messages on a one-to-one basis.
Once a company decides to target a particular country, it must determine the best mode
of entry. Its broad choices are indirect exporting, direct exporting, licensing, joint
ventures, and direct investment.
In a compensation deal, the seller sells a plant, equipment, or technology to another
country and agrees to accept as partial payment products manufactured with the
supplied equipment.
When Tough Mudder launched in 2010, it spent its entire $8,000 communication budget
on mobile advertising, which generated plenty of word of mouth.
If firms wish to maximize their market share, they should opt for market-skimming
pricing.
Flankers are brands that may be kept around despite dwindling sales because they
manage to maintain their profitability with virtually no marketing support.
________ is a measure of communications effectiveness that describes the percentage
of target market exposed to a communication.
A) Frequency
B) Reach
C) Width
D) Depth
E) Range
Jake had an appointment at the doctor’s office, but couldn’t make it on time due to
traffic. By the time he arrived, the doctor had already begun with the next patient. This
illustrates the ________ of services.
A) variability
B) heterogeneity
C) perishability
D) intangibility
E) homogeneity
Which of the following extrinsic factors is most likely to sway a consumer’s decision
about whether to contribute to social media?
A) whether they are having fun
B) whether they are learning
C) whether it affects their self-image
D) whether the brand is novel
E) whether their family is having fun
Prestige LLC, a small company that manufactures specialty cereals and energy bars,
wants to launch a “green marketing” program in response to heightened consumer
awareness about environmental issues. What should the company do to maximize the
program’s chances of being successful?
A) demonstrate that the products will benefit both customers and the society in the long
term
B) emphasize benefits to the consumer rather than environmental benefits
C) focus on the efforts and costs incurred by the company to bring these “green”
products to consumers
D) engage in “greenwashing” to highlight the environmental benefits of the product
E) explain the rules and regulations laid out by governmental agencies to protect the
environment
Marcel downloaded an episode of his daughter’s favorite program to his cell phone to
ward off a tantrum while they were shopping. Which of the four distinctive
characteristics was most critical to enable this action?
A) It is tied to one user.
B) It allows marketers to personalize messages.
C) It is virtually always “on.”
D) It allows for immediate consumption as it is a distribution channel with a payment
system.
E) It is highly interactive given it allows for geotracking and picture and video taking.
The total demand for many business goods and services is only minimally affected by
price changes. Thus, this demand is ________.
A) derived
B) fluctuating
C) accelerated
D) multiple
E) inelastic
________ cost is the cost per unit at that level of production; it equals total costs
divided by production.
A) Target
B) Average
C) Marginal
D) Opportunity
E) Fixed
In which of the following stages of personal selling does a salesperson tell the product
story to the buyer?
A) preapproach
B) prospecting
C) presentation
D) closing
E) objection handling
________ occurs when customers are given a perspective or point of view that allows
the firm to “put its best foot forward.”
A) Gatekeeping
B) Commoditization
C) Framing
D) Rebuying
E) Bartering
Of the time US consumers spend with all media, almost ________ is spent online.
A) one-quarter
B) one-third
C) two-thirds
D) one-half
E) three-quarters
LCH is a leading electronics company that produces and markets its own brand of
desktop and laptop computers for both individual consumers and businesses. Which of
the following sequences of consumer responses is relevant as a marketing
communications model for LCH’s products?
A) learn-do-feel
B) feel-learn-do
C) do-feel-learn
D) feel-do-learn
E) do-learn-feel
The cost of operating the common manufacturing facility is a(n) ________ cost.
A) opportunity
B) traceable
C) nontraceable
D) sunk
E) differential
When food product companies advertise recipes that use their branded products in
entirely different ways, they are increasing the ________ consumption of the brand.
A) amount of
B) level of
C) dedication to
D) frequency of
E) awareness of
Costs that differ directly with the level of production are known as ________ costs.
A) fixed
B) overhead
C) opportunity
D) target
E) variable
________ goods constitute the bulk of most countries’ production and marketing
efforts.
A) Durable
B) Impulse
C) Physical
D) Luxury
E) Intangible
If a marketing manager segments the market into culture-, sports-, or outdoor-oriented
groups, he or she is segmenting the market on the basis of ________.
A) loyalty status
B) behavioral occasions
C) user status
D) psychographic lifestyle
E) readiness stage
________ marketing is the practice of sending messages only when consumers express
a willingness to become more involved with the brand.
A) Relationship
B) Permission
C) Cause
D) Defensive
E) Horizontal
Which company launched Eco-Fina packaging for its water?
A) PepsiCo
B) Coca-Cola
C) SodaStream
D) PURE
E) Sigg Switzerland
The ________ technique used for stimulating creativity identifies a problem and then
considers the dimension, the medium, and the power source.
A) attribute listing
B) reverse assumption analysis
C) mind mapping
D) lateral marketing
E) morphological analysis
The horizontal dimension in the VALS framework is ________.
A) resources
B) innovation
C) maturity
D) impulsiveness
E) consumer motivation
Identify the four pillars of brand equity, according to BrandAsset® Valuator model.
A) relevance, performance, bonding, and advantage
B) presence, performance, advantage, and bonding
C) energized differentiation, relevance, esteem, and knowledge
D) brand salience, brand feelings, brand imagery, and brand performance
E) energized differentiation, esteem, brand feelings, and brand salience
Mobile ad spending approached ________ worldwide in 2013.
A) $14 million
B) $18 million
C) $48 million
D) $18 billion
E) $48 billion
The ________ market consists of all the organizations that acquire goods and services
used in the production of other products or services that are sold, rented, or supplied to
others.
A) business
B) consumer
C) e-commerce
D) global
E) domestic
Which of the following factors is one of the contributors to the growing use of
packaging as a marketing tool?
A) consumption aid
B) consumer affluence
C) consumer influence
D) conformance qualities
E) brand identification
Which of the following is true about market nichers?
A) They are market followers in small markets.
B) They tend to have high manufacturing costs.
C) Their return on investment exceeds that in larger markets.
D) A nicher achieves high volume as against a mass marketer that achieves high
margin.
E) They usually experience long-term losses.
What is the importance of guarantees?
The business market consists of all the organizations that acquire goods and services
used in the production of other products or services that are sold, rented, or supplied to
others. List the major industries that make up the business market.
Briefly describe the methods of forecasting future demand on the basis of past sales.
Corporate philanthropy can pose problems even when done with the best intentions.
Explain.
Linda Evans has been given the task of developing the product element of her
company’s marketing mix. List the components that will likely be included in this
element of the marketing mix.
Explain how Armani uses its brand portfolio approach to maintain profits during
recessions.
Marketing excellence with services requires excellence in three broad areas. List and
explain the three areas.