Archives: Quiz

A _________approach is also popularly called a niche strategy. A.Customized marketing B.Differentiated target marketing C.Concentrated target marketing D.Mass marketing E.One-to-one marketing A concentrated target marketing approach, which Michael Porter refers to as a focus strategy and is also popularly called […]

B2B transactions have been growing at a phenomenal rate. Online B2B sales worldwide is now in excess of ______________. A.10 trillion dollars B.5 trillion dollars C.3 trillion dollars D.1 trillion dollars E.None of the above B2B transactions have been growing […]

Solid Surface, a countertop store, will give customers a 10% discount if they pay their bills in full in 20 days, however after 20 days they do not receive a discount. This is an example of ______________. A.Cash discounts B.Trade […]

Services such as such as loyalty programs, easy store access, additional facilities like restaurants, support services for young children and infants enhance the ________ of the customers. A.Retailer experience B.Shopping experience C.Sales experience D.All of the above E.None of the […]

Call Company has 12 call centers worldwide. The firm is considering the purchase of a software firm that serves the oil and gas industry. Most likely, this would be classified as __________ in Ansoff’s Product-Market Matrix. A.Market diversification B.Marketing strategy […]

Great Skate skateboarding parks’ marketing team wants to stay open until 3:00 a.m. The parks currently close at midnight. Most likely, this would be classified as a __________ strategy in Ansoff’s Product-Market Matrix. A.Market diversification B.Marketing strategy development C.Market penetration […]

Because Sony has so many different product offerings in various electronics categories, the management has found that it is helpful to use brands to keep track of products in each category. Thus, they have different brand names for their televisions, […]

_____________ is an example of a non-technology communication selling activity. A.Enhance language and overall communication skills B.Email C.Create useful company Web page content D.Database management E.Leaving voicemail messages The selling activities that relate to communication and are non-technology involve the […]

Miriam and Gregory are partners in a manufacturing firm that supplies electronic parts to over 1,500 companies. Recently, employees have been complaining that they were not told of changes in health insurance coverage and premiums. They attribute this to a […]

_______ are often considered a more realistic picture of product growth. A.New purchases B.Revenues C.Unit sales D.Repeat purchases E.Replacement purchases Currency fluctuations can lead to wide variations in revenue, and price increases can also dramatically affect total revenue. So unit […]

Geoff works at an Aspen ski shop. He has just gotten a shipment of new snowboards and realizes that the company has priced its snowboards higher than the rest of the boards in Geoff’s shop. Since Geoff took a marketing […]

_____________, goods for which a consumer may engage in a limited search, are candidates for selective distribution. A.High technology goods B.Durable goods C.Convenience goods D.Impulse goods E.Shopping goods Shopping goods are the goods for which consumer may engage in a […]

The marketing manager of XYZ brewery is developing a promotional strategy for their high quality low cost beer. He wants to state the advantages of XYZ’s line and give customers a reason to choose it over the competition. The goal […]

________________ occurs within a channel to better match quantities needed to space constraints and inventory turnover requirements. A.Reverse logistics B.Disintermediation C.Assortment creation D.Breaking bulk E.Accumulating bulk The function of breaking bulk occurs within a channel to better match quantities needed […]

Early adopters and innovators are the primary purchasers in the __________ stage of the product life cycle. A.Growth stage B.Introductory stage C.Maturations stage D.Decline E.Innovation In the introductory phase, the target markets are innovators and early adopters. Sally has seen […]

One competitive force NOT addressed directly by Michael Porter is ____________. A.Power of competitive forces B.Power of substitute forces C.Power of other stakeholders D.Power of suppliers E.Power of potential entrants Stakeholders like unions, community groups, and trade associations can strongly […]

The two parts of value equation are benefits and cost. Results of a focus group are generalizable to a population of interest. Answer: FALSE Results of a focus group are not generalizable to a population of interest. Focus groups are […]

CRM-driven, one-to-one marketing tends to have increased promotional costs. A product line is defined as the combination of all the products offered by a company. Answer: FALSE A product line is group of products linked through usage, customer profile, price […]

Business goods can be characterized on two dimensions: (1) whether or not they are used in the manufacturing process and (2) the time needed to decide whether to purchase them or not. The key benefit of stand-alone brands is that […]

The decisions made about the product have no impact on the pricing, promotion, or distribution elements of the marketing mix. CRM software is best selected for purchase by the Information Technology department since the €techies’ will need to maintain it […]

Early adopters are opinion leaders who seek out new products but are price sensitive. Many people believe marketing is focused primarily on consumers-the ultimate users of the product. The fact that they experience marketing as a consumer contributes to this […]

Differentiation means developing different value offerings for different targeted segments. According to the consumer product adoption process, the early majority refers to a group of people who are the prime candidates for beta testing. Answer: FALSE According to the consumer […]

There are two types of end user purchases-capital equipment and sundries. To create a brand identity there must be identifiable and meaningful differences among products. Answer: TRUE If all products are perceived to be equal then it is more difficult […]

Research suggests that consumers prefer environmentally sensitive products, but are unwilling to pay a significant price premium. With respect to the US minority population, the fastest growing population is the Asian community. Answer: FALSE With respect to the US minority […]

A fundamental rule in marketing is to not set customer expectations so high that they cannot be effectively met on a consistent basis. It is okay to fire a customer who has a low predicted lifetime value, even if there […]

According to the Model of the Consumer Decision Process, the marketing activities that affect consumer decision process include the value proposition, technology, and marketing communications. Data mining is about analyzing as much information as possible about customers and potential customers […]

Buzz, or word-of-mouth communication, is the communication generated about a brand in the marketplace. The challenge for the new product development team is to design and build a product the customer wants to buy while hitting the company’s success metrics–sales […]

“If it can’t be measured, it can’t be managed” refers to top management’s need to quantify objectives and results. Outbound telemarketing involves calling potential customers at their home or office. Answer: TRUE Outbound telemarketing involves calling potential customers at their […]

The issue of corporate identity and its impact on customer attitudes and responses toward product offerings is no longer relevant in today’s marketplace. CRM essentially is computer software. Answer: FALSE CRM is technology-based but we view it as a comprehensive […]

Public relations is an area that can be handled by anyone trained in marketing. Customers are satisfied interacting with a company or product based primarily on visiting a retail store. Answer: FALSE Customers are no longer satisfied interacting with a […]

Internal factors affecting consumer choices are the most difficult to understand. In price lining, the escalation of product prices up the product line no longer have to consider factors such as real cost differences among the various features offered, customer […]

The lower the reach and frequency, the higher the cost of a campaign. Open-ended questions allow respondents to express themselves freely in their responses, which tend to result in more detailed responses that are useful for exploratory research. Answer: TRUE […]

ABC Corp. is the number one leader in its industry. It will probably use comparative advertising to reach its audience. The scope of activities in direct foreign marketing is the same as in international marketing or global marketing and occurs […]

Companies create call centers around the world to handle regional customer traffic over the course of a 24-hour business cycle. The way an advertisement communicates the information and image is called advertising results. Answer: FALSE Advertising execution is the way […]

In the GE Business Screen model, Business Position looks at factors like government regulations, sensitivity to economic trends and size of the market. Starbucks is known to have shops located across the street from each other. It appears that the […]

According to Ansoff’s Product-Market matrix, market development strategies allow the firm to introduce existing products to new customers, often including international markets. Firms today are beginning to understand the importance of marketing metrics to assess marketing performance. Answer: TRUE Firms […]

Managers should buy the best, most advanced CRM package, and then try to change the firm to fit the new technology. One of the oldest forms of retailing, catalog retailing has started to lose its popularity as two-income households often […]

A competitor’s price is one of the most visible elements of its marketing strategy, and you can often infer the pricing objective by carefully analyzing historical and current pricing patterns. Internet marketing succeeds because spam is so popular. Answer: FALSE […]

Doubtful positioning occurs when consumers have too narrow an understanding of the company, product, or brand. Variety is the number of different product items within a product category. Answer: FALSE Assortment (and not variety) is the number of different product […]

In today’s workplace everyone is involved in service in some way; everyone has customers either outside or inside the firm, or both. A price leadership position (example: Walmart) implies that a company that assumes this position has superior operational elements […]

Marketing plays a central role in creating, communicating, delivering, and exchanging offerings that have value. Firms and brands that continually attempt to operate in the high-price/low-benefits environment do not survive over the long run as customer trust is damaged. Answer: […]

Firms generally only use one method of segmentation at a time. Customers in the B2B market place demand not only a personal relationship with their vendors but also an efficient one. Answer: TRUE The nature of business markets requires a […]

Objectives are measurable and goals are broad statements of generally desired accomplishments in support of the firm’s mission statement. It is not common for multiple retailers to target the same group. Answer: FALSE Often multiple retailers will target the same […]

The Boolean operator NOT is primarily used to: A. add variations to the basic search term. B. eliminate citations with a particular term. C. expand a search. D. segregate synonymous citations. E. broaden the scope ofthe search. Which of the […]

Which of the following is the first step to be taken while outlining your claim message? A. To end positively-friendly but firm B. To directly present the claim C. To identify the situation and lead into the problem D. To […]

Research indicates that digital natives are likely to: A. overuse body language. B. be incapable of using computer-mediated communication. C. easily detect insincerity. D. be able to easily detect deception. E. miss important nonverbal cues. Knowledge of sales message techniques […]

Which of the following statements best illustrates theconversational style? A. With respect to your query dated 13th November, find the required details listed below. B. Enclosed please find the product detailsabout which you inquired. C. This is in reply to […]

Preparing application documentsfor an employment opportunity should havethe same approach as when preparing for a(n) _____. A. informal email B. casual message C. sales campaign D. good-news message E. personal letter Vita, curriculum vita, qualifications brief, or data sheet are […]

Which of the following is true about the attitudes of cultures toward various factors of human relationships? A. People belonging to polychronic cultures regard time as something that must be planned in order to be used as efficiently as possible. […]

Which of the following sentences is the best example of the use of vague words? A. The teacher wrote a letter to Jim’s parents informing them of his week long absence from school. B. She wore a blue shirt with […]