A market research firm conducts a survey of soft-drink consumers to assess Pepsi’s and
Coke’s strengths and weaknesses in attributes valued by both company’s target
customers. The market research firm is using a ________.
A) customer lifetime value estimation
B) global marketing strategy
C) competitive marketing strategy
D) customer value analysis
E) blue ocean strategy
A public relations firm tailors its advertising and promotional services according to the
needs and preferences of specific customers. This exemplifies ________.
A) trigger-based marketing
B) mass marketing
C) segmented marketing
D) individual marketing
E) concentrated marketing
With a(n) ________ marketing strategy, a firm goes after a large share of one or a few
smaller niches.
A) individual
B) mass
C) concentrated
D) differentiated
E) local
________ and ________ do not take title to goods, and they perform only a few
channel functions.
A) Full-service wholesalers; limited-service wholesalers
B) Brokers; agents
C) Industrial distributors; cash-and-carry wholesalers
D) Cash-and-carry wholesalers; industrial distributors
E) Rack jobbers; off-price retailers
Customer equity refers to ________.
A) a firm’s current sales
B) the share a firm earns of a customer’s purchasing in their product categories
C) the amount a customer is spending each year on certain products
D) the total combined customer lifetime value of all of the company’s current and
potential customers
E) a firm’s market share
Communications programs need to be developed for specific niches, individuals, and
________.
A) genders
B) countries
C) departments
D) products
E) segments
Any paid form of nonpersonal presentation and promotion of ideas, goods, or services
by an identified sponsor is called ________ and includes broadcast, mobile, print, and
online forms.
A) sales promotion
B) advertising
C) direct and digital marketing
D) personal selling
E) public relations
________ segmentation divides the market into segments based on variables such as
age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and
generation.
A) Geographic
B) Benefit
C) Occasion
D) Psychographic
E) Demographic
________ 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
Which of the following is a potential downside to using patriotic themes in marketing
programs?
A) Consumers rarely respond to patriotic marketing messages in a favorable manner.
B) A consumer’s societal orientation has no visible impact on product consumption.
C) Patriotism could be viewed as an attempt to cash in on the nation’s emotions.
D) Patriotic Americans may have less disposable income than reformers.
E) Mass marketing has limited appeal among patriotic Millennials.
Explain how the United States Postal Service has “competitor myopia.”
________ is the systematic design, collection, analysis, and reporting of data relevant to
a specific marketing situation facing an organization.
A) Product marketing
B) Strategic planning
C) Marketing research
D) Market segmentation
E) Causal research
The best business portfolio is the one that ________.
A) provides the greatest opportunity for increasing profits
B) best fits the company’s strengths and weaknesses to opportunities in the environment
C) ensures that the company will realize increased share of market
D) allows the company to decrease its overall costs
E) entices customers to purchase even more products from the company
Which of the following is a goods-and-services combination?
A) a bicycle
B) a milk shake at an ice cream store
C) chocolate chips
D) a train ride
E) a music lesson
In ________, companies work together to facilitate the trading process.
A) reverse auctions
B) trading exchanges
C) procurement
D) supplier selection
E) order-routine specification
Companies can research many aspects of buying decisions. However, the one that is the
most difficult to identify is ________.
A) what consumers buy
B) how and how much they buy
C) why they buy
D) when they buy
E) where they buy
Which of the following is true with regard to media publics?
A) The primary function of this group is to protect the interests of minority groups.
B) This group carries news, features, and editorial opinion.
C) The primary function of this group is to critique the marketing decisions of
companies.
D) This group includes neighborhood residents and community organizations.
E) This group directly influences the company’s ability to obtain funds.
Display media includes ________.
A) newspapers
B) magazines
C) television
D) company Web sites
E) billboards
Which of the following is especially crucial in the approach stage of the selling
process?
A) ensuring the customer understands the company’s history
B) telling the customer about the company’s products
C) listening to the customer
D) presenting the solution that the customer needs
E) overcoming the customer’s objections
Under which type of geographic pricing strategy does each customer take responsibility
for the freight charges for the product from the factory to its destination?
A) zone pricing
B) basing-point pricing
C) uniform-delivered pricing
D) dynamic pricing
E) FOB-origin pricing
To remain number one, leading firms can take any of three actions. First, they can find
ways to expand total demand. Second, they can protect their current market share
through good defensive and offensive actions. Third, they can ________.
A) focus exclusively on divestment
B) evaluate current employees and reduce costs through downsizing
C) run smaller companies out of business, causing them to sell out to larger firms
D) try to expand their market share further, even if market size remains constant
E) shut down current company locations and reopen in highly populated areas
In a ________, new products and marketing tactics are tested online in a virtual
shopping environment.
A) controlled test market
B) simulated test market
C) standard test market
D) focus group
E) survey
Yummy Peanut Butter created a new coconut-flavored peanut butter that it tested in a
small number of representative cities. The company plans to use the results to forecast
national sales and profits. Which of the following did the firm use?
A) controlled test markets
B) simulated test markets
C) standard test markets
D) ambush marketing
E) affinity marketing
________ distribution is a strategy in which producers of convenience products and
common raw materials stock their products in as many outlets as possible.
A) Direct
B) Intensive
C) Inclusive
D) Exclusive
E) Selective
The environmental sustainability movement encourages companies to ________.
A) actively resist social change
B) operate freely in the black market
C) go beyond government regulations
D) institute deregulation
E) curb organizational anarchy
The “bottom of the pyramid” refers to ________.
A) the world’s poorest consumers
B) the middle classes of Brazil, Russia, India, and China
C) a market with little or no purchasing power
D) people with easy access to luxury goods
E) the middle class of high-income countries
Which of the following is the most effective way for a company to ship bulky,
non-perishable products if its key requirement is low price?
A) pipelines
B) air transport
C) trucks
D) water carriers
E) piggyback
Which of the following is true with regard to problems faced by international
researchers?
A) Translation of questionnaires increases research costs and risks of error.
B) Erratic purchasing patterns limit data reliability and validity.
C) More often than not, cultural differences enrich research findings.
D) Diverse markets always yield conflicting data.
E) The primary data obtained by international researchers are almost always error
prone.
Which type of wholesaler sells to manufacturers rather than to retailers?
A) industrial distributor
B) full-service wholesaler
C) cash-and-carry wholesaler
D) wholesale merchant
E) limited-service wholesaler
A restaurant wants to use value-based pricing. It knows the costs of the ingredients in
the food. It must also factor in ________ in determining customer satisfaction and
value.
A) wages of employees
B) costs of utilities of the restaurant
C) atmosphere and dcor of the restaurant
D) travel distance for customers
E) percentage of bar patrons versus dining patrons