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"If it can't be measured, it can't be managed" refers to top management's need to
quantify objectives and results.
Outbound telemarketing involves calling potential customers at their home or office.
Marketers can affect learning by providing information using a message, format, and
delivery that will encourage customers to retain the information in memory.
The benefits of a product or service must include all types of utility.
An analysis of the product life cycle provides information only about the historical
trends in the category and not about the future market conditions.
In the product adoption process, consumers move through five stages that can be
described as awareness, interest, desire, trial, and rejection.
Value proposition should drive customer loyalty.
A firm with a selling orientation assumes that "if you build it, they will come".
Customer loyalty almost always is directly related to the various sources of value the
customer is presently deriving from the relationship with the company and its brands.
Influencers are any individuals, both inside and outside the organization, with relevant
expertise in a particular area that is used by the buying center in making the final
decision.
Attitudes are formed by values and beliefs. Cultural and personal values help form
attitudes.
The marketing manager for Joe's Shoe-Mart has decided to conduct descriptive research
and knows that she needs primary data. Based on some preliminary research of trade
journals and interviews with customers she knows what questions she wants to ask.
However, the customers she wants information from, are spread out over many stores in
several states. The best technique for her to collect this data would be _______.
A.Interviews
B.Observation
C.Focus Groups
D.Experiments
E.Surveys
Surveys are structured questionnaires given to a sample group of individuals
representing the population of interest and are intended to solicit specific responses to
explicit questions. Since the customers are spread out in several states, a survey would
be the easiest and the most cost-effective technique for collecting the data.
Generation "X" is often referred to as the ________.
A.Spoiled generation
B.Non-consumption generation
C.Millennial generation
D.Baby bust generation
E.None of the above
Gen X is often referred to as the "baby bust" because it represents a natural cyclical
downturn in birthrate.
In the maturity stage of the PLC, consumer goods companies find that they spend
__________.
A.A small percentage of their budget on mature products preferring to spend on new
products
B.A large percentage of their budget on marketing communications because of the need
to support the brand and reinforce key product differentiators
C.A proportionate percentage of their budget on marketing communications in order to
maintain their market share and not let new competitors enter the market with ease
D.A lower percentage of their budget on marketing communications in order to milk the
product for profitability
E.The same as in the growth stage
In the maturity phase, it is necessary to further differentiate ones product from the
competition or face pressure to lower prices, so greater expenditure on marketing
communications is needed to reinforce this differentiation.
Beach Bums, a maker of swim suits, has contract manufacturing overseas. The firm is
concerned that tariffs may be increased. An examination of this issue would take place
in the _________ of the situation analysis.
A.Economic situation
B.Natural factors
C.Competitive situation
D.Political, legal, and ethical factors
E.Logistic situation
The government sets tariffs, making them a legal issue. So it should be included under
the political, legal, and ethical factors section of the situation analysis.
___________________________ is an advantage offered by television media.
advertising.
A.A short shelf life
B.The infomercial option
C.That impressions are fleeting
D.The benefit of din
E.Low cost
The infomercial option is an advantage offered by television as a medium of
advertising.
The development of promotion mix strategies, or simply promotional strategies,
involves decisions about ____________________.
A.Elements in the promotion mix
B.Determining the acceptable ROI for the customer
C.Price
D.Product development
E.Distribution
The development of promotion mix strategies involves decisions about which
combination of elements in the promotion mix is likely to best communicate the
offering to the marketplace and achieve an acceptable ROI for the marketer, given the
product and target markets involved.
Managing a customer's expectations is a good way to minimize ____________.
A.The value proposition
B.FAB
C.Customer trust
D.Price
E.Change conflict
The nature of the sales presentation creates stress for the customer because the
salesperson is asking the customer to choose change by selecting the company's
product. As a result, salespeople understand the importance of minimizing change
conflict for the customer. The best way to manage customer change conflict is to
manage the customer's expectations.
Companies must balance the number of items in a product line. Too many items and
customers find it difficult to see the differences between the products. Too few products
and the company runs the risk of _______.
A.Having inefficiencies in production
B.Having trouble with discounters because they may have the same product as a full
price store
C.Having a problem with communication to the market about the products
D.Missing important market opportunities that are not being met by the current product
offerings
E.Having supplier issues due to low order quantities
Companies must balance the number of items in a product line; too many items in a
product line and customers find it difficult to differentiate between individual products,
but too few products and the company runs the risk of missing important market
opportunities.
Amelie is the marketing manager at a caf© in Charleston, South Carolina. The
chef/owner is about to introduce a new dish and Amelie is planning on pricing the dish
low at the beginning, but slowly raising the price over time. Amelie is applying _____.
A.Penetration pricing
B.Price skimming
C.Target ROI
D.Competitor based pricing
E.Value pricing
In penetration pricing, prices are set low initially to ward off competition and then creep
up over time. Amelie is applying penetration pricing as a short term pricing policy.
______________________ is NOT one of the three personal communication methods
most widely adopted.
A.Interactive marketing
B.Personal selling
C.Sales promotion
D.Direct marketing
E.All of the above
Sales promotion is not a personal communication method, but a unidirectional one,
where the company communicates with the customer but the customer has limited
ability to provide feedback. The three personal communication methods most widely
adopted are personal selling, direct marketing, and interactive marketing.
Henry Ford is well known to business students for creating the assembly line that
enabled mass production of the Model T. This is an example of _____________.
A.Production orientation
B.Selling orientation
C.Marketing orientation
D.Buzz marketing orientation
E.Business orientation
Production orientation focuses on improving products and production efficiency
without much regard for what is going on in the marketplace.
______________ results from contracts such as franchise agreements or other formal
agreements.
A.Coercive power
B.Reward power
C.Expert power
D.Referent power
E.Legitimate power
Contractual agreements among channel members may lead to legitimate power.
A _______________ consists of vertically aligned networks behaving and performing
as a unified system.
A.Matrix system
B.Vertical Marketing System (VMS)
C.Value chain
D.Management information system
E.Marketing information system
A vertical marketing system (VMS) consists of vertically aligned networks behaving
and performing as a unified system. A VMS can be set up in three different ways:
corporate systems, contractual systems, and administered systems.
Define supply chain.
Why is geographic concentration an important part of some B2B relationships?
Tyler's marketing class just visited a warehouse for one of the nation's top electronic
companies. While in the warehouse Tyler was amazed at the number of televisions he
could count. The warehouse manager explained that the television company produces
hundreds of TV's a day, and then ships them to the various retailers, so that the retailers
can make them available to the customers. Why is it important for the retailer to be a
part of this system?
Big M marketing refers to the strategic, long-term, firm-level commitment to investing
in marketing for the purpose of enhancing organization performance.
TRUE
Explain why breaking bulk is an important function within the channel for retailers.
Liv has been asked to determine whether or not her company should reengineer one of
its older products to include more features and be more advanced. One of the things she
needs to determine is if the market will support a price point for the newly designed
product that enhances the firm's overall financial performance. What can Liv do in
order to determine how the company should move forward?
What are the five primary activities of the value chain?
Describe the principle types of product advertising and give examples of each.
Identify the difference between a census and a sample. Name the types of sampling.
Describe the goal of institutional advertising and give an example of an institutional
advertising campaign.
