Archives: Quiz

If a company were pursuing a policy of networking externally to gather marketing intelligence, it might collect competitors’ ads or look up news stories about competitors. Price is one of the two elements of the marketing mix that produces revenue. […]

Custom marketing research firms sell field interviewing services to other firms. When a manager is trying to identify how the company can efficiently create promising new offerings, he is addressing the question of value delivery. Answer: FALSE An example of […]

Web-crawling technology searches for counterfeit storefronts and sales by detecting domain names similar to legitimate brands. According to BrandAsset® Valuator (BAV) model, knowledge is one of the key components of brand equity. Answer: TRUE A profitable customer is a person, […]

Brand equity can be built by linking the brand to sources, such as channels of distribution as well as to other brands. Business-to-consumer telemarketing is increasing. Answer: FALSE The buyer in a straight rebuy usually changes product specifications, prices, delivery […]

Closing signs from the buyer include physical actions, statements or comments, and questions. Contracts are always sufficient to govern supplier transactions and prevent supplier opportunism. Answer: FALSE Narrative branding is based on deep metaphors that connect to people’s memories, associations, […]

As required levels of distribution increase, so do customer prices relative to the importer’s price. Forecasting is the art of anticipating what buyers are likely to do under a given set of conditions. Answer: TRUE If setup costs are high, […]

Crowdsourcing means inviting an Internet community to help create content or software, often with prize money or a moment of glory as an incentive. Wholesalers exclude manufacturers and farmers because they are engaged primarily in production, but include retailers, as […]

A public is any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives. Domestic-based export merchants seek and negotiate foreign purchases for a commission. Answer: FALSE Design can shift consumer […]

Dragalong income refers to additional income whereas cannibalized income refers to reduced income. In a one-sided message, presenting the strongest argument first arouses attention and interest, important in media where the audience often does not attend to the whole message. […]

To analyze its competitors, a company needs to gather information about both the real and the perceived strengths and weaknesses of each competitor. Guarantees are most effective when the product is well known and/or similar in performance to other brands […]

The search qualities of a service are the characteristics the buyer can evaluate before purchase. Brand differentiation occurs when consumers no longer associate a brand with a specific product or highly similar products and start thinking less of the brand. […]

Beta testing tests the product within the firm to see how it performs in different applications. Sellers benefit from systems contracting through lower operating costs as a result of steady demand and reduced paperwork. Answer: TRUE Consumers may evaluate identical […]

Both brand equity and customer equity emphasize the importance of customer loyalty and the notion that we create value by having as many customers as possible pay as high a price as possible. An ideal event is unique but not […]

Integrated marketing is the task of hiring, training, and motivating able employees who want to serve customers well. Companies enter the international market only when their domestic markets are saturated. Answer: FALSE Heavy focus on price reductions and discounts during […]

An intensive distribution strategy serves well for products such as snack foods and soft drinks. In the communication stage of the value creation and delivery sequence, marketing must determine specific product features, prices, and distribution channels. Answer: FALSE Williams-Sonoma reported […]

To increase the effectiveness of e-mails, some researchers are employing “heat mapping,” which tracks eye movements with cameras to measure what people read on the computer screen. When it comes to social media, only some consumers want to engage with […]

A retailer cooperative is a retail firm that is owned by its customers. One of the shortcomings of direct marketing is that the firm cannot easily measure the response. Answer: FALSE A hybrid consists of unequal parts of goods and […]

Expensive industrial goods and new technologies will normally undergo alpha and beta testing. The aim of customer relationship management is to keep the costs of meeting and tracking consumers as low as possible. Answer: FALSE When companies engage students to […]

Baby boomers are less likely to associate retirement with “the beginning of the end” and see it instead as a new chapter in their lives with new activities, interests, careers, or even relationships. The US government is the largest customer […]

When Honda expanded its brand into such areas as automobiles, snow blowers, and marine engines, it was pursuing a strategy called line extension. In the business market, small sellers concentrate on reaching as many participants as possible because their chances […]

The marketing plan is the central instrument for directing and coordinating the marketing effort. To be useful, market segments must be measurable. Answer: TRUE P&G’s Vocalpoint is a group built on the premise that moms who have conversations with three […]

If a calculator company produces 100,000 hand calculators at a cost of $10, but the cost drops to $9 when it produces 200,000 and $8 when it produces 400,000 hand calculators, the decline in average cost with accumulated product experience […]

A computer falls into the ________ category of service mix. A) pure tangible good B) tangible good with accompanying services C) hybrid D) major service with accompanying minor goods E) pure service When Aaron went to his doctor for his […]

The ________ determinant of service quality refers to the knowledge and courtesy of employees and their ability to convey trust and confidence in the service they provide. A) conscientious B) assurance C) empathy D) reliability E) responsiveness Cabot (Scenario) Cabot, […]

“How does this problem affect your people’s productivity?” is an example of a(n) ________ question. A) situation B) implication C) problem D) need-payoff E) challenge Pricing cues such as sale signs and prices that end in 9 are more influential […]

When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies. A) product differentiation B) overall cost leadership C) focus D) domestic customer […]

When one company licenses another to produce its offerings, or two companies jointly market their complementary offerings, it is called a ________. A) pricing collaboration B) product or service alliance C) promotional alliance D) logistics collaboration E) total quality management […]

Which of the following is one of the key disadvantages of online market research? A) Online research is expensive. B) Online research is time consuming. C) People tend to be dishonest online. D) Online research lacks versatility. E) Samples can […]

Which of the following is an example of direct marketing? A) E&OE sells its herbal skincare products exclusively through its standalone stores. B) TCJ is a telemarketing firm that sells products from a number of different suppliers. C) Jayne’s sells […]

Staples is a giant retailer that concentrates on selling office supplies. Staples is an example of a(n) ________. A) ambush marketer B) supercenter C) megamarketer D) category killer E) guerilla marketer A well-known producer of breakfast cereals has decided to […]

________ includes all the activities in selling goods or services directly to final consumers for personal, non-business use. A) Wholesaling B) Retailing C) Procurement D) Promoting E) Warehousing By 2025, annual consumption in emerging markets will total $30 trillion and […]

Total Beverages, a maker of fruit juices and health drinks, recently launched a new brand of packaged drinking water called AquaPure. In order to induce distributors to carry the product, Total offers all its intermediaries a free refrigerator to store […]

When a consumer considers a product or service, he or she will choose whichever product or service delivers the highest ________. A) customer-perceived value B) customer-perceived cost C) customer profitability analysis D) customer equity E) customer lifetime value When consumers […]

If a marketing researcher chooses to use word associations, the researcher is using ________ questions. A) closed-end B) Likert scale C) open-end D) rating scale E) semantic differential In the exact moment you run out of laundry detergent and realize […]

Robert is the owner of an automobile manufacturing company. He calls for a board meeting and tells his directors that he wants to build a car that lets the users experience power and exhilaration. He tells them that the car […]

In the FABV approach, ________ describe the economic, technical, service, and social pluses delivered. A) features B) advantages C) benefits D) value E) macroenvironment If a consumer who is trying to decide between alternatives believes that a particular brand delivers […]

Pager, a simple personal device for short messages, became famous in the 1990s. Troveron Communications launched a pager in the early twenty-first century. Due to the introduction of mobile phones and text messaging, the pager industry was on a decline. […]

Suppose 100 million people consume black tea every year, and an average consumer consumes 8 kgs of tea at an average price of $3 per kg. Compute the total market potential for tea. As people in developing countries often prefer […]

A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to […]

Backward invention occurs when a firm ________. A) creates a new product to meet a need in another country B) reintroduces earlier product forms adapted to suit another country’s needs C) invents products that are similar to competing offerings D) […]

Which of the following is one of Hofstede’s four cultural dimensions that differentiate countries? A) customer relationship management versus power distance B) strategic management versus marketing management C) weak versus strong uncertainty avoidance D) total quality management versus JIT deliveries […]

When a company acquires consumer-panel data from firms like A.C. Nielsen Company and Information Resources Inc., which of the following steps to improve the quality of a company marketing intelligence system is the company resorting to? A) training and motivating […]

It was sunny when Jenny went to class, but by the time class was over it was raining heavily, so Jenny stopped by the student store to buy an umbrella before she walked back to her dorm. In this case, […]

Buyers expect products to have high ________, which is the degree to which all produced units are identical and meet promised specifications. A) durability B) compatibility C) conformance quality D) form E) performance quality ________ marketers are not just market-driven, […]

The buying process starts when the buyer decides to, or enters, a store or service provider’s facility. Permission marketing presumes that consumers know what they want. Answer: TRUE The market leader should look for new customers or more usage from […]

When the brand manager for John Deere sets up advertising, sales promotions, events, and public relations to communicate about the value embodied in its products, she is participating in the “communicating value” management function. Venture teams are cross-functional groups charged […]

Life stage defines a person’s age. While creating a loyal brand community is useful for large companies, it is not cost-effective for small firms. Answer: FALSE Marketing planning begins with formulating an offering to meet target customers’ needs or wants. […]

Focusing disproportionate effort on high-profit customers will lead to lower customer profitability for those customers. Secondary groups require continuous interaction to be effective and meaningful. Answer: FALSE A marketer who wants to position his line of cameras as the “Cadillac” […]

Few consumers actually delete cookies frequently. When customers do not delete cookies, they expect customized marketing appeals and deals. The main objective of marketing public relations is to secure editorial space in print and broadcast media to promote or “hype” […]

Growth in the retail market is centered firmly in the middle market, leaving luxury retailers and discounting specialists struggling. To manage costs, most companies are choosing a leveraged sales force that focuses reps on selling the company’s more complex and […]