It is not uncommon to see ________ profits in the introductory stage of the product life
cycle for an industry.
A.High
B.No or negative
C.Average
D.Low
E.Marginal cost
In the introduction phase, sales are usually low and there are high marketing and
product costs, so no or negative profits are not uncommon.
Catalogs, telemarketing, and Internet marketing are communication channels for _____.
A.Personal selling
B.Public relations
C.Direct marketing
D.In-store marketing
E.Targets short term objectives
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. The term
direct marketing includes a number of communication channels: direct mail, catalogs,
telemarketing, and Internet marketing.
______________ is used by firms that rely on periodic heavy promotional pricing that
is primarily communicated through advertising and sales promotion, to build traffic and
sales volume.
A.Psychological pricing
B.One price strategy
C.Variable pricing
D.Every day low pricing (EDLP)
E.High/low pricing
A high/low pricing strategy heavily promotes sales during certain periods of time when
the prices are low, while the rest of the time the prices are high.
The process of salespeople linking knowledge of the company’s products to customer
need solutions is often referred to as __________________________.
A.TCA
B.IMC
C.AIDA
D.FAB
E.CRM
Customers do not buy features. They buy solutions to problems. So it is fundamental
that salespeople link knowledge of the company’s products to customer need solutions.
This process is often referred to as FAB (Features, Advantages, and Benefits).
___________ is a strength relating to advertising as an element in the promotion mix.
A.Ability to pinpoint small numbers of customers
B.Limited creative flexibility maintains control
C.Many media choices
D.Less costly
E.Direct contact with individual targets
One of the advantages of advertising as a product mix element is the many media
choices are available.
While making a purchase decision, engineers are frequently called on to detail product
requirements and specifications. In this case, the engineers are playing the role of
________.
A.Influencers
B.Users
C.Deciders
D.Initiators
E.Product engineers
Individuals, both inside and outside the organization, with relevant expertise in a
particular area act as influencers, providing information that is used by the buying
center in making the final decision. Engineers are frequently called on to detail product
requirements and specifications.
Essentially, Coca-Cola has 100 percent brand awareness among U.S. consumers;
therefore, the goal for its promotion is to ______.
A.Persuade
B.Inform
C.Captivate
D.Remind
E.Manipulate
For brands that are already top-of-mind for many customers, a primary goal of
promotion is to keep the brand and its imagery at the forefront.
Katherine is the marketing VP for a cleaning supply manufacturer. The firm’s products
are proven to kill 99% of bacteria. The current target markets are hospitals and skilled
nursing facilities. Katherine is considering branching into the consumers products
market and wants your advice on the five major differences in business and consumer
markets. What do you say to her?
The ________________ defines value in terms of price and delivered benefits to the
customer.
A.Value equation
B.Value proposition
C.Breadth of merchandise
D.Depth of merchandise
E.Assortment
The value equation, as we have discussed, defines value in terms of price and delivered
benefits to the customer. Retailers make critical decisions about each of these elements
in the value equation.
If secondary and/or primary data on a market being considered for segmentation is
available, then it means _______.
A.The market is clearly differentiated
B.The market has sufficient size
C.The market is reachable
D.The market is readily identifiable and can be measured
E.None of the above
If it is possible to get either secondary and/or primary data on a market being
considered for segmentation then it means the market is readily identifiable and can be
measured. Segmentation most often requires data and if secondary data on the markets
of interest is not available or if primary data can’t be easily collected, it may not be
possible to do segmentation.
_______ enable companies to subsidize some section of Web page on the site.
A.Sponsorships
B.Banner ads
C.Blogs
D.Interstitials
E.Search related ads
High-traffic Web sites sell sponsorships that enable companies to subsidize some
section of Web page on the site.
Combining all the products offered by a company is called the ___________.
A.Product combination package
B.Product mix
C.Product profile
D.Product standardization
E.Product function
Combining all the products offered by a company is called the product mix.
____________ is known for its every day low pricing strategy.
A.Walmart
B.J C Penney
C.Sears
D.Best Buy
E.Kmart
Walmart has brought the concept of everyday low pricing (EDLP) to the forefront of
global consumer consciousness.
The three main types of buying situations can be characterized as ___________.
A.Straight rebuy, mid-level rebuy, and new purchase
B.Straight rebuy, modified rebuy, and new purchase
C.Slight rebuy, non-evaluative rebuy, and new purchase
D.Buy, rebuy, and non-buy
E.None of the above
The three main types of buying situations are: straight rebuy, modified rebuy and new
purchase.
The evaluation stage of the adoption process is where _________.
A.Consumers seek out information to further define the product
B.Consumers are engaged in the consumption of the product
C.Consumers are at the stage to determine if they want to become loyal to the product
D.Consumers combine all information and evaluate the product prior to trial
E.Consumers only know the product but have insufficient information about the product
In the evaluation stage potential buyers combine all information (word of mouth,
reviews, advertising) and evaluate the product from many perspectives.
Compared to B2C markets, B2B markets are characterized by ________.
A.Buying decisions made by individuals
B.Simple buying processes
C.Elastic product demand
D.Higher value placed on each customer
E.Impersonal relationships
Business markets are characterized by fewer but larger customers. The large size and
small number of customers places a higher value on each customer.
One part of a marketing plan should identify what to do if things go wrong. This is
called _______________.
A.Contingency planning
B.Strategic planning
C.Marketing metrics
D.Action plans
E.Marketing programs
Contingency plans are used to develop options for minimizing any disruption to the
firm’s operations. Contingency plans are often described in terms of best case, worst
case, and most likely scenarios.
List the 4 elements of a direct marketing campaign.
List and describe the impact of the 4 common customer concerns.
Discuss the aptitude factors necessary for a good sales person.
In the vast majority of companies the conflicting demands of securing sensitive
information and open disclosure of business procedures exist relatively harmoniously.
However, occasionally the system fails and the result is scandal and even criminal
activity. Hewlett-Packard (HP), one of the leading global technology companies,
recently found itself involved in a scandal that led to the dismissal of two members of
its Board of Directors and the firing of several employees. Describe how HP came to be
in this position. Do you think the people involved were unethical by nature?
Marcus is a high school teacher who was born in 1980. What generation does he belong
to and what are its characteristics?