Apple used an album by the band U2 to promote the Apple Watch announcement.
Which of the following message execution styles is illustrated in this example?
A) personality symbol
B) musical
C) fantasy
D) lifestyle
E) slice of life
Refer to the scenario below to answer the following question(s).
Reliable Tools Company is a manufacturer of hubs and axles for the trailer and heavy
truck industry. Although Reliable Tools only has 15 customers, the company is the sole
supplier of hub and axle components to those customers. Monthly sales at Reliable
Tools are approximately $1 million. “You might say we have all our eggs in one
basket,” says owner Arthur Deetz.
It is critical that a competent sales force be maintained in order to nurture those few but
large accounts. Ninety-five percent of Reliable Tools’ customers are located in
Michigan, Ohio, and Indiana, which means that travel time to all customers is relatively
short. However, given the nature of the industry, time spent with each customer is
crucial.
Several compensation plans are available to reward and motivate Reliable Tool’s
salespeople. Since generating new leads and new business can be a goal for the sales
force, which compensation plan approach is MOST likely to motivate and direct the
salespeople in that direction?
A) straight commission
B) salary plus bonus
C) straight salary
D) salary plus commission
E) salary, commission, and bonus
Which of the following is NOT a type of off-price retailer?
A) independent
B) factory outlet
C) warehouse club
D) category killer
E) wholesale club
Green Bees, a popular American heavy-metal band, will perform in Berlin during
Christmas. There is a high demand for concert tickets among fans worldwide who are
looking forward to the much-awaited performance. In this instance, the high demand
for tickets for the Green Bees concert is representative of ________ demand.
A) primary
B) negative
C) derived
D) elastic
E) business
________ are useful articles imprinted with an advertiser’s name, logo, or message that
are given as gifts to consumers.
A) Rebates
B) Cents-off deals
C) Premiums
D) Promotional products
E) Sweepstakes
Which of the following is an example of a pure tangible good?
A) a laptop with a comprehensive warranty for three years
B) an online shoe retailer that provides free home delivery
C) an agency that offers free legal advice
D) a credit card
E) a bag of potato chips
Companies facing the challenge of setting prices for the first time can choose between
two broad strategies: market-penetration pricing and ________ pricing.
A) comparative
B) competitive
C) market-skimming
D) market-segmentation
E) cost-plus
Which of the following is included in the third part of the marketing strategy statement?
A) the planned value proposition
B) distribution strategy
C) the product’s planned price
D) marketing budget
E) the planned long-run sales
Beach Heaven uses two-part pricing for its holiday resort charges. Because this is a
service, the price is broken into a fixed fee for the room plus a(n) ________ usage rate
for activities, including kite-sailing and child care.
A) fixed
B) variable
C) standard
D) market
E) optional
Which of the following is the LEAST critical decision a company should make before
going abroad?
A) Can the company learn to understand buyer behavior of consumers in other
countries?
B) Can the company offer competitively attractive products?
C) Can the company adapt to other countries’ business cultures?
D) How many foreign nationals should the company employ?
E) Do the company’s managers have the necessary international experience?
________ is the product life cycle period when sales growth slows because the product
has achieved acceptance. Profits level off because marketing costs increase in the face
of competition.
A) Decline
B) Maturity
C) Product development
D) Introduction
E) Growth
Which of the following is a negative aspect of a competitor-centered company?
A) It may end up simply matching industry practices.
B) It fails to identify competitors’ weaknesses.
C) It becomes stable and unreactive.
D) It fails to notice weaknesses in its own position.
E) It fails to develop a fighter orientation.
Factors such as a firm’s objectives, procedures, and systems are examples of ________
influences on the business buyer behavior.
A) political
B) interpersonal
C) technological
D) organizational
E) cultural
Ralph Goldsmith works for Zenith Inc., a leading cosmetic company based in Illinois.
At Zenith, Ralph’s primary responsibility revolves around digging deeply into customer
data to gain valuable insights about customer needs, motives, and attitudes. This data is,
in turn, used by Zenith to personalize its customers’ shopping experiences. Ralph’s
position at Zenith requires him to focus primarily on ________.
A) customer sales
B) human resource management
C) risk assessment
D) financial analysis
E) customer relationship management
Which of the following would most likely lead to a company initiating a price increase?
A) weakened economy
B) possession of outdated merchandise
C) excess capacity
D) over-demand
E) possession of defective merchandise
John has decided to buy a particular smartphone that he saw reviewed online. Which of
the following sources of information has most likely influenced John’s purchase
decision?
A) laggards
B) commercial sources
C) public sources
D) personal sources
E) market mavens
If a consumer purchases a new flat-screen “smart” television, what is the augmented
product involved?
A) connection to the world of entertainment
B) state-of the art technology
C) slick and attractive packaging
D) brand name
E) tech support and warranty
________ are formed by noting current prices, remembering past prices, or assessing
the buying situation.
A) Product line prices
B) Seasonal prices
C) Reference prices
D) Time-based prices
E) Product bundle prices
A Spanish-language channel runs its ads only in Hispanic neighborhoods. This is an
example of ________.
A) broadcasting
B) buzz marketing
C) narrow programming
D) media multitasking
E) personal selling
Creating a brand-marketing event or serving as a sole or participating sponsor of events
created by others is known as ________.
A) point-of-purchase promotions
B) sweepstakes
C) team selling
D) event marketing
E) personal selling
Companies can identify competitors from a(n) ________ point of view by defining
competitors as companies that are trying to satisfy the same customer need or build
relationships with the same customer group.
A) customer
B) blue ocean
C) market
D) myopic
E) industry
Which of the following price adjustment strategies involves reducing prices to reward
customer responses such as volume purchases, paying early, or participating in
sales-support programs?
A) product bundle pricing
B) captive product pricing
C) product line pricing
D) dynamic pricing
E) discount and allowance pricing
“Losing a customer once means losing the entire stream of possible purchases that the
customer would make over an extended period of patronage.” This statement
specifically indicates loss in terms of ________.
A) customer-perceived value
B) marketing offerings
C) partner relationship management
D) customer lifetime value
E) value proposition
Which of the following likely does NOT play into products being offered for different
prices in different countries?
A) additional costs of operations
B) product commonality
C) physical distribution
D) shipping and insurance
E) exchange-rate fluctuations
A(n) ________ is a person’s relatively consistent evaluations, feelings, and tendencies
toward an object or idea.
A) lifestyle
B) motive
C) belief
D) attitude
E) perception
Primary data consist of ________.
A) data that does not age
B) data obtained from the public domain
C) information collected for the specific purpose at hand
D) information that already exists somewhere, having been collected for another
purpose
E) information that is the least expensive and the easiest to obtain
The business marketer normally deals with ________ than the consumer marketer does.
A) far fewer but far larger buyers
B) far more but far smaller buyers
C) negligible customer complaints
D) far less fluctuations in demands
E) far more elastic demand
Before a company decides to go global, it must evaluate all of the following
environments EXCEPT the ________ environment.
A) cultural
B) natural
C) political-legal
D) global marketing
E) economic
While creating research questionnaires, researchers must particularly AVOID the use of
________.
A) biased phrasing
B) simple language
C) closed-end questions
D) logical question arrangement
E) open-ended questions
Which of the following is most likely a disadvantage of focus group interviewing?
A) Focus group interviewing does not connect secondary data with primary data.
B) Focus group interviewing is less flexible compared to mail questionnaires.
C) Consumers in focus groups are always open and honest about their real feelings,
behaviors, and intentions in front of other people.
D) Focus group interviewing involves small samples to keep time and costs down,
which makes it hard to generalize from the results.
E) The moderator in a focus group interview has poor control over the group of
respondents.
When companies watch both their buyers and their competitors, they are called
________ companies.
A) product-centered
B) market-centered
C) customer-centered
D) competitor-centered
E) cost-centered
Which of the following is a problem caused by a policy of the EU?
A) Barriers to the free flow of products, services, finances, and labor decreased.
B) Policies on trade with nonmember nations were developed.
C) Economic powers stepped in to prop up weaker economies.
D) Adopting a common currency decreased currency risk.
E) The EU represents one of the world’s largest single markets.
________ is a person’s pattern of living as expressed in his/her psychographics, and it
includes the individual’s activities, interests, and opinions.
A) Personality
B) Culture
C) Lifestyle
D) Motive
E) Social class
McDonald’s, Subway, and Jiffy Lube are all examples of ________.
A) voluntary chains
B) retailer cooperatives
C) franchises
D) category killers
E) power centers
Lovelies is the leading workout and fitness center for women. The regional chain of
gyms has traditionally catered to women age 40 and older who are interested in strength
and cardiovascular training. Lovelies has recently begun promotions to bring younger
women into its gyms. This is an example of how the market leader ________.
A) competes with mature products
B) changes its product line
C) develops new rules
D) develops new users
E) increases competition
Describe the types of products that are selectively distributed and provide examples.
Why is the business buying process more formalized than the consumer buying
process?
What is product value analysis?
Explain the role of marketers in the information search step of the buyer decision
process. Give an example of how the marketer might execute this role.
Many subcultures make up important market segments. Examples of three such
important subculture groups include Hispanic Americans, African Americans, and Asian
Americans. Describe the general shopping-related characteristics of each of these
groups.
What are the various components of the value delivery network of a company?
What factors should a firm consider when selecting intermediaries?
Why is a company unlikely to set a uniform price all around the world?
What does the concept of integrated logistics management advocate?
Explain the psychology behind a price of $9.99 instead of $10.00.
What are the different dimensions of a company’s product mix? Briefly describe each
dimension.
Discuss the major influences on business buyers.
Explain how selective retention affects what consumers remember about marketing
messages.
Why is it important for managers to define the problem and establish research
objectives?
How can a company benefit through a just-in-time logistics system?
Explain how selective distortion is somewhat controllable by a marketer.
How do primary data differ from secondary data?