A fixed sum of money paid at regular intervals is a(n) __________.
A.Salary
B.Non financial incentive
C.Intrinsic reward
D.Output measure
E.Incentive pay
A salary is a fixed sum of money paid at regular intervals.
Montgomery shops at Mango Nation, a high-end clothing store. This week she received
two discount cards in the mail, one for shoes and the other for clothing. The cards
indicate that Montgomery participates in ____________________.
A.Customer communities
B.Loyalty programs
C.Online sales groups
D.Focus groups
E.None of the above
Retailers use loyalty programs that reinforce benefits of purchasing at the retailer and
reward consumers for being loyal. Loyalty programs offer discounts and other benefits
to customers that strengthen the relationship.
_______________________ is NOT a step in a direct marketing campaign.
A.Identify qualified target customers
B.Test the offer of the campaign
C.Specify direct marketing channels
D.Develop a compensation plan
E.Analyze results of offer
A direct marketing campaign encompasses a series of specific steps: set strategy for
campaign, specify direct marketing channels, identify qualified target customers,
develop and test the offer for the campaign, and analyze results of offer.
Lately the demand for building materials has dropped due to the slow down in new
housing construction. Wood-O Corp. is thinking of closing its building materials
division as it has been making a loss. Mostly likely the building materials division
would be classified as a ____________.
A.Star
B.Cash cow
C.Dog
D.Problem Child
E.Top Gun
The building materials division is making a loss and there is a slow down in new
housing construction as well. So even with additional investments, the building
materials division would find it difficult to make profits. Hence it would be classified as
a dog.
Jack wants to get his new computer from the most famous mass customization
marketer. He should purchase from __________.
A.Compaq
B.Hewlett-Packard
C.Apple
D.Dell
E.Gateway
Dell’s Web site allows the customer to build a seemingly endless variety of
combinations of features into a laptop or desktop to create a computer that gives the
buyer the strong impression of creating his or her very own machine.
Channel members add their value by bridging gaps in form, time, place, and ownership
that naturally exist between __________________.
A.Consumers and transporters
B.Producers and transporters
C.Producers and consumers
D.Producers and retailers
E.None of the above
Intermediaries play a role in the exchange process between producer and consumer.
Channel members add their value by bridging gaps in form, time, place, and ownership
that naturally exist between producers and consumers.
According to the 2000 U.S. Census, Hispanic Americans outnumber
African-Americans. Most likely an examination of this issue would be in the
____________ section of the marketing plan.
A.Natural factors
B.Legal issues
C.Economic trends
D.Socio-cultural/Demographic
E.Threat of new entrants
Tracking ethnic groups would indicate demographic trends. So a description of this
would be included in the socio-cultural/demographic section of a marketing plan.
Which of the following is NOT necessarily true about a national brand?
A.The manufacturer of a national brand develops the product
B.The manufacturer of a national brand produces the product
C.The manufacturer of a national brand carries out the marketing and advertising of the
product
D.The manufacturer of a national brand sells the product to the end users
E.The manufacturer of a national brand sells the product to retailers around the country
The manufacturing company is responsible for all aspects of product creation,
production, distribution, and marketing. The retailer, in turn, sells the product and the
manufacturer need not directly sell the product to the end users.
One of the problems faced while using income as a variable of segmentation is:
A.Many people either purposely misstate or refuse to reveal their income
B.It is too simple to use
C.It is confusing because of its interaction with gender and age
D.It is time consuming to study consumer’s buying habits based upon their income
E.None of the above
Many people either purposely misstate or refuse to reveal their income on
questionnaires and in interviews used in collecting data for identifying segments.
Hence, identifying segments based on income becomes difficult.
Companies that focus on real-time matching most likely practice _______.
A.Mass marketing
B.Target marketing
C.One-to-one marketing
D.Customer marketing
E.Consumer marketing
Real-time matching is a characteristic of one-to-one marketing.
______________________ are products created, manufactured, and marketed by a
company and sold to retailers around the country and the world.
A.Merchandising categories
B.Co-products
C.Giffen goods
D.National brands
E.Private-label brands
National brands are products created, manufactured, and marketed by a company and
sold to retailers around the country and the world. The manufacturing company is
responsible for all aspects of product creation, production, distribution, and marketing.
B2C markets can be characterized as being more ________ than B2B markets.
A.Conservative
B.Liberal
C.Impersonal
D.Personable
E.Likeable
In B2C markets, even when a relationship is cultivated with the customer, it is
impersonal and exists primarily through electronic communication or direct mail. B2B
markets have a small number of large size customers which places a higher value on
each customer. So B2B markets need personal relationships with the customers.
You run a small automotive supply business that sells to a few large retailers. You want
to conduct marketing research to assess how the companies you sell to feel about the
reorder process and your billing system. Because there are so few companies on the list
of potential respondents, it would be best to collect data from a __________ of current
customers.
A.Probability Sample
B.Random Sample
C.Convenience Sample
D.Non-probability Sample
E.Census
A census involves attempting to include each individual in the population of interest in
a research project.
Harry is going to purchase flowers for his mother for Mother’s Day. When he arrives at
the florist he has to choose between roses, tulips, and sunflowers. The flowers represent
_______________.
A.Convenience goods
B.Giffen goods
C.Merchandising categories
D.Co-products
E.Joint products
Merchandising categories are an assortment of items considered substitutes for each
other. Since roses, tulips, and sunflowers can be considered substitutes for one another,
they represent merchandising categories.
CRM reports should consist of ___________.
A.Only data the firm will actually use
B.As much information as possible so the company can try to detect trends
C.Data categories that are the same every report period
D.Competitive analysis
E.All of the above
The likelihood of a successful implementation of CRM increases when the reporting
consists only of data the firm can actually use.