Brand ________ is the job of estimating the total financial worth of the brand.
A) tracking
B) auditing
C) equity
D) valuation
E) harmonization
________ refers to a planning process designed to assure that all brand contacts
received by a customer or prospect for a product, service, or organization are relevant to
that person and consistent over time.
A) Brand engagement
B) Integrated marketing communications
C) Market research
D) Customerization
E) Marketing research
The owner of supermarket chain Reynold’s wants to offer nonfood items such as
greeting cards and magazines. However, Reynold’s does not want to take care of setting
up displays and maintaining inventory records. Which of the following types of
wholesalers can help Reynold’s meet customer demand while minimizing costs?
A) producers’ cooperatives
B) cash and carry wholesalers
C) truck wholesalers
D) drop shippers
E) rack jobbers
Often, a service problem arises from a customer’s lack of understanding or ineptitude.
Which of the following can help to minimize customer failures?
A) giving customers exclusive primary service packages
B) redesigning processes to simplify service encounters
C) using differential pricing and shared services
D) minimizing service intangibility
E) working with more customers at the same time
________ for a product is the total volume that would be bought by a defined customer
group in a defined geographical area in a defined time period in a defined marketing
environment under a defined marketing program.
A) Company demand
B) Area market potential
C) Market demand
D) Company sales potential
E) Total market potential
Prices that end in 9 are most appropriate when ________.
A) customers have substantial knowledge about quality
B) customers process prices right to left
C) there is a mental price break at the lower, rounded price
D) the marketer wants to suggest a discount or bargain
E) the marketer wants to convey a high-price image
Which of the following is a medium of visual identity for a company?
A) annual reports
B) dress codes
C) press releases
D) seminars
E) trade shows
A company can learn a great deal by analyzing the degrees of brand loyalty. For
example, ________ can show the firm which brands are most competitive with its own.
A) hard-core loyals
B) split loyals
C) shifting loyals
D) switchers
E) antiloyals
When marketers present flexible market offerings to all members of a business
segment, their offerings consist of two parts. Which part contains the product and
service elements that all segment members value?
A) naked solution
B) discretionary solution
C) maximum solution
D) pseudo solution
E) virtual solution
The purpose of profitability control is to ________.
A) examine whether the planned results are being achieved
B) examine where the company is making and losing money
C) evaluate and improve the spending efficiency and impact of marketing expenditures
D) examine whether the company is pursuing its best opportunities with respect to
markets, products, and channels
E) understand the efficiency of the sales force, advertising, sales promotion, and
distribution
________ refers to the ability to meet humanity’s needs without harming future
generations.
A) Greenwashing
B) Sustainability
C) Ecological footprinting
D) Scalability
E) Legal practice
Which of the following is TRUE about the technology trends that marketers should
monitor?
A) A growing portion of U.S. R&D expenditures are going toward the research side as
opposed to the development side.
B) Today, the time between idea and implementation is expanding.
C) China leads the world in spending on research and development.
D) The pace of change is accelerating today.
E) The government has decreased regulation of technological change.
Which of the following is NOT one of the advantages of direct mail?
A) The cost per thousand is lower than for mass media.
B) It permits target market selectivity.
C) It can be personalized.
D) It allows early testing and response measurement.
E) It is flexible.
________ refers to the products or sets of products with which a brand competes and
which function as close substitutes.
A) Consumer profitability analysis
B) Competitive frame of reference
C) Category membership
D) Value membership
E) Demand field
Researchers usually start their investigation by examining some of the rich variety of
low-cost and readily available ________ data, then collect ________ data if the needed
data don’t existing or are dated, inaccurate, incomplete or unreliable.
A) primary; secondary
B) secondary; primary
C) primary; econometric
D) secondary; econometric
E) exploratory; econometric
________ is the science of using psychology and demographics to better understand
consumers.
A) Psychographics
B) Interactionism
C) Clustering
D) Demographic transition
E) Customerization
Belling Hotels provides a complimentary breakfast buffet to all guests. This is an
example of a ________.
A) primary service package
B) service interface
C) service support
D) service frequency
E) secondary service feature
A sales representative whose expertise is in unraveling customers’ problem is called
a(n) ________.
A) order taker
B) missionary
C) technician
D) solution vendor
E) demand creator
Gordron Inc. manufactures and markets medical equipment. To ensure that its
salespeople are knowledgeable enough to answer all product queries, the company hires
only those individuals who have a good understanding of both the medical profession
and the mechanics of the equipment used. Which of the following is the most accurate
classification of Gordron’s salesforce?
A) technicians
B) demand creators
C) deliverers
D) order takers
E) missionaries
A ________ is a person, household, or company that over time yields a revenue stream
that exceeds by an acceptable amount the company’s cost stream of attracting, selling,
and servicing that customer.
A) prospector
B) profitable customer
C) market challenger
D) market nicher
E) pioneer customer
When a shopper purchases new shoes, he or she expects the shoes to cover his or her
feet and allow him or her to walk unobstructed. This is an example of what level in the
consumer-value hierarchy?
A) pure tangible good
B) basic product
C) augmented product
D) potential product
E) generic product
Which of the following is an advantage of using newspapers as an advertising medium?
A) long lifespan
B) high reproduction quality
C) huge “pass-along” audience
D) high level of targeting
E) good local market coverage
AT&T’s business campaign not only helped to change public perceptions of the
company, it also signaled to employees that AT&T was determined to be a leader in
telecommunication services. Which principle of internal branding does this example
portray?
A) choosing the right moment to capture employees’ attention and imagination
B) furnishing energizing and informative internal communication
C) bringing the brand alive for employees
D) linking internal and external marketing
E) understanding how brand communities work
________ research approach uses concepts and tools from anthropology and other
social science disciplines to provide deep cultural understanding of how people live and
work.
A) Cognitive
B) Inductive
C) Archaeological
D) Ethnographic
E) Deductive
A ________ is the set of all products and items a particular seller offers for sale.
A) product line
B) product mix
C) product extension
D) product system
E) product class
M-commerce refers to ________.
A) conducting business using mobile channels
B) the use of mass media communications to attract customers
C) providing mobile and on-site services to customers
D) the use of a specific medium to communicate with prospects
E) using the Internet as a medium for doing business
In the ________ step of the market segmentation process, the marketer evaluates the
segment using criteria such as market growth and market access.
A) need-based segmentation
B) segment identification
C) segment attractiveness
D) segment profitability
E) segment “acid test”
Which of the following is a way for companies to increase customer-perceived value?
A) increase the psychological investment associated with buying
B) increase the buyer’s time and energy investment
C) increase total customer benefit by improving economic and functional benefits
D) decrease total customer benefit by replacing psychological benefits of the product
E) decrease the difference between total customer benefit and total customer cost
Which of the following is a disadvantage of using a percentage-of-sales method to
determine the marketing communications budget?
A) It assumes competitors know better than the company’s own planners.
B) It results in high communication expenditures irrespective of what the company can
afford.
C) It is overly focused on the relationship among communication cost, selling price, and
profit per unit.
D) It treats sales as what determines communication, rather than as the result of
effective communication.
E) It is too focused on long-range planning.
Mothers-to-be are potential users who will turn into heavy users of infant products and
services. By targeting mothers-to-be as future heavy users, producers of these products
and services are segmenting consumers on the basis of ________.
A) attitude
B) buyer-readiness stage
C) loyalty status
D) user status
E) benefits
Which of the following is the most complete and accurate description of a pure-click
company?
A) These are companies that launch a Web site without any previous existence as a
firm.
B) These firms’ business models are based on advertising revenue.
C) These are established companies that have an online site for selling products.
D) These companies get paid every time a user visits their Web site.
E) These companies sell online space to other Web sites and are paid for the service.
In discussions with the packaging design team, you note that they do not have a firm
design objective for the final package. In an internal memo to your boss, outline the
objectives (both company and consumer orientated) that you wish to see implemented
by the design team.
There are three key consumer criteria that determine whether a brand association can
truly function as a point-of-difference. When the Westin Stamford hotel in Singapore
advertised that it was the world’s tallest hotel, it attempted to create a
point-of-difference (POD). Discuss whether this attempt to create a POD would be
likely to succeed.
Once a company decides to target a particular country, it must determine the best mode
of entry. List the market entry strategies in order from low risk to high risk.
Supermarket chain Reynold’s is considering making a switch to stocking almost
exclusively private-label products in order to offer customers the lowest prices. Offer
reasons why Reynold’s should think twice before opting to stock exclusively
private-label products.
An oil drilling company ordered a pumpjack for its operations. The pumpjack
manufacturing company not only set up the machine but also provided training to the
people who needed to use it. It also let the drilling company know that it would be
undertaking the maintenance and repair services for the pumpjack. What kind of a
service is the manufacturing company providing?
Discuss the impact of tougher environmental regulations on businesses, citing examples
whenever possible. Also, point out opportunities, if any, presented by these regulations.
Describe the four steps in market logistics planning.
E&OE wants to minimize inventory costs as far as possible. Explain one way by which
it can achieve a near-zero inventory.
Describe four broad strategies employed by market followers to meet their competitors.
Which of these is unethical?
A marketing research firm has instructed its research associates to collect primary data
by stopping people at a shopping mall or busy street corner and request an interview on
the spot. What are the drawbacks of using this method?
Discuss the pros and cons of selling to neighboring countries or those that share the
same language.
Assume you are a marketing manager and want to adopt strategic brand management.
List the four main steps that you would most likely go through to accomplish this task.
Distinguish external, internal, and interactive marketing.
Daryl encouraged his prospective client to buy Car A for $38,000 because it was a
comfortable, reliable, and fuel-efficient model. But the client was interested in Car B, a
used car costing $10,000 less. How could Daryl apply the total cost of ownership to
convince this client to buy Car A?
Describe how retailers and manufacturers are employing shopper marketing.
When the airline industry offers discounted but limited early purchases, higher-priced
late purchases, and the lowest rates on unsold inventory just before it expires, what kind
of a pricing technique are they said to be using?