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Which of the following refers to the process of dividing a market into distinct groups of
buyers with different needs, characteristics, or behaviors?
A) market diversification
B) market segmentation
C) downsizing
D) customer relationship management
E) prospecting
Cameron loves to own and be up-to-date on the latest technological gadgets available in
the market. Among his friends, he is always the first to own the latest electronic
gadgets. He loves trying out new products before others. Cameron most likely belongs
to the ________ adopter group.
A) innovator
B) surrogate consumer
C) late mainstream
D) early mainstream
E) lagging
In the context of media timing, ________ means scheduling ads unevenly over a given
time period.
A) routing
B) continuity
C) sequencing
D) narrowcasting
E) pulsing
You own a neighborhood grocery store and would like to have non-food items
delivered, priced, displayed and inventoried by a wholesaler. You do not want to
purchase title to the goods. Which type of wholesaler best fits your needs?
A) cash-and-carry wholesaler
B) rack jobber
C) drop shipper
D) mail-order wholesaler
E) agents and brokers
The overselling of private goods results in ________.
A) cultural pollution
B) misdirected funding
C) social costs
D) materialism
E) opportunity expenses
Companies can identify competitors from a(n) ________ point of view by defining
competitors as companies that are trying to satisfy the same customer need or build
relationships with the same customer group.
A) customer
B) blue ocean
C) market
D) myopic
E) industry
Profitability increases as a business gains share relative to competitors in its ________.
A) higher market
B) direct market
C) secondary market
D) served market
E) valued market
Which of the following wholesaler's channel functions is demonstrated when a
wholesaler's sales force helps a manufacturer to reach many small customers at a low
cost?
A) bulk-breaking
B) selling and promoting
C) buying and assortment building
D) risk bearing
E) rackjobbing
Which of the following is a positive aspect of a competitor-centered company?
A) It carries out its own customer relationship strategy.
B) It bases its own moves on competitors' moves.
C) It searches out competitors' weaknesses.
D) It concentrates its resources on delivering superior value to target customers.
E) It ends up seeking innovative ways to create more value for customers.
________ are like coupons except that the price reduction occurs after the purchase
rather than at the retail outlet.
A) Rebates
B) Promotional products
C) Premiums
D) Samples
E) Price packs
Ocean Spray sells its air fresheners only through Ray's Retail Chain. This is an example
of ________ distribution.
A) exclusive
B) selective
C) intensive
D) indirect
E) corporate
When companies serve customers who are willing to pay a premium to get precisely
what they want and the company responds quickly to satisfy these customers' needs, the
company has achieved ________.
A) customer intimacy
B) product differentiation
C) operational excellence
D) product leadership
E) focus
In the marketing mix, design, packaging, services, and variety can be categorized under
________.
A) product
B) price
C) promotion
D) place
E) position
According to management guru Peter Drucker, "The aim of marketing is to ________."
A) maximize profits of the company
B) emphasize customer wants and not customer needs
C) make selling unnecessary
D) fulfill unrealistic customer expectations
E) sell products
When using public relations, the company pays for space and time in the media.
________ is the systematic design, collection, analysis, and reporting of data relevant to
a specific marketing situation facing an organization.
A) Niche marketing
B) Total quality management
C) Marketing research
D) Breakeven analysis
E) Causal research
Which of the following price adjustment strategies offers a price reduction to buyers
who pay their bills promptly?
A) cash discount
B) season discount
C) quantity discount
D) trade discount
E) functional discount
