Specialty goods hold a unique place in the hierarchy of product classifications in that
they __________.
A.Focus on price
B.Focus on total value
C.Are sought out by customers who are willing to search to find this particular kind of
product
D.Have stores located in peculiar places
E.Are not really desired by the consumer
Specialty goods are a unique purchase made based on a defining characteristic for the
consumer. Consumers are also more willing to seek out the product; however,
expectations about product service, salesperson expertise, and customer service are
higher.
Walter was born in 1925. He is a member of the ___________ generation.
A.Baby boomer
B.GI
C.Silent
D.Gen X
E.Millennial
The silent generation consists of individuals born between 1925 and 1945.
Showing exotic aliens blasting cavities in your mouth is an example of _____.
A.Fantasy appeal
B.Endorsement appeal
C.Humor appeal
D.Comparative advertising
E.Competitive advertising
Fantasy appeals offer a fantasy look at how it might be if a customer purchases the
product.
Per capita the largest B2B market in the world is:
A.Japan
B.All countries are about the same
C.United States
D.Australia
E.None of the above
The United States is by far the largest B2B market per capita. The US B2B market is
double the size of any other market.
Burger Bistro recently experienced a decline in hamburger sales after salmonella was
discovered during a health inspection at one of the restaurants. The marketing manager
was interested in finding out how other restaurants had dealt with similar situations.
____________ data would be the most appropriate way to find answers related to this
marketing problem.
A.Secondary
B.Governmental
C.Experimental
D.Primary
E.Observational
Secondary data are data that were collected for some other purpose than the problem
currently being considered. The data that the manager needs already exists.
It is typical to develop a ___________ in the new product development cycle during the
business case analysis stage.
A.Projection of total demand for the product over a specified period of time, usually
five years
B.One year profit and loss statement due to the unknowns of the long term
C.Budget for the new product introduction for the first 6 months
D.Business description of the market as it looks 20 years from now
E.Cash flow projection for the entire product life cycle
In new-product development, the business case determines the total demand for the
product over a specified period of time, usually five years, and it also develops a cash
flow statement.
Sam Celeski is a salesman with an industrial supply house. He discovers that Ingersoll
Rand is going to make a large purchase of equipment and has created a buying center to
get the purchase done. Sam’s first job is to _______________.
A.Discover the budget for the purchase
B.Develop criteria for the purchase
C.Discover the most important influencer
D.Discover who is part of the buying center
E.Develop a presentation for the buying center
A number of individuals with a stake in the purchase decision come together to form a
buying center. When a buying center is discovered, a salesman should first identify who
is in the center.
You are product manager for Brand X diapers, a national brand. Brand X has been
declining in absolute level of sales for the last four consecutive months. You ask the
marketing research department to do a study to determine why sales have declined. The
most appropriate research type would be _________.
A.A laboratory experiment
B.A field experiment
C.A descriptive study
D.An exploratory study
E.A causal study of actual and potential customers
Exploratory research is about discovery and it can be used to answer a research
question.
P&G and Walmart have developed a strategic alliance that includes connectivity of
inventory, billing systems, and market research. Approaches such as this are often
referred to as _____________.
A.Diversification
B.Partner relationship management (PRM) strategies
C.Vertical integration
D.Horizontal integration
E.Market penetration strategies
A strategic alliance between P&G and Walmart results in improved inventory
management, more efficient invoice processing, and product development that better
serves the consumer marketplace. Approaches such as this are often referred to as
partner relationship management (PRM) strategies.
For many consumer products, test markets run __________.
A.More than a year
B.More than two years
C.Less than two months
D.Less than a year
E.More than five years
With many consumer products, purchase cycles are relatively short (days or weeks) so
usually the tests markets run less than a year.
Advantages of non-store retailing include ____________.
A.Ease of use
B.Safe shopping environment
C.Quality of visual presentation
D.All of the above
E.None of the above
Non-store retailing allows consumers to shop from a location convenient to them. Also,
non-store retailing does a good job of presenting products in a positive visual format
through well-designed catalogs, direct-mail materials, and online content.
______________ is an interactive marketing system that uses one or more advertising
media to affect a measurable response and/or transaction at any location.
A.Personal selling
B.Sales promotion
C.Direct marketing
D.Public relations
E.Skimming
As defined by the Direct Marketing Association, direct marketing is an interactive
marketing system that uses one or more advertising media to affect a measurable
response and/or transaction at any location.
Really Smart Consulting Partners uses the GE Business Screen when analyzing
business for clients. Tyrone, a senior partner, has prepared a report telling a client to sell
a strategic business unit. How does the report justify the recommendation to sell? What
kind of analysis would you expect to be presented?
Describe the major factors in the competitive environmental factors.
Businesses understand that supplier qualifications are a main part of the purchase
decision. What are the main criteria the supplier choice decision and what to they
represent?
Enrique works for an electronics store that frequently uses sales and promotions to set
prices. Which pricing strategy does Enrique’s company use? If they were to change their
strategy which other main strategy would they use?
Explain the advantages and disadvantages of both stand-alone and family branding.
Give examples of companies that use each method.
After completing inventory assessments you have realized that you have an excess of
one of your products. You need to move this excess product out of your warehouse, but
you are unsure of the best way to do that. What kind of B2B pricing strategies could
you offer to your channel buyers?
Discuss three external factors that may contribute to new produce failures. How have
Japanese carmakers gained a competitive advantage over U.S. automakers?