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Psychographic segmentation divides a population into groups with similar values and
lifestyles.
a. True
b. False
Mike doesn't like to shop but when he needs new clothes, he goes to the Buckle because
he's learned they have great products, excellent service, and make it easy to get and out
of the store quickly. Since he's away from home attending college, he visits the local
Buckle store to purchase a new pair of jeans. However, no one greets him when he
enters or asks him if he needs help. He can't remember the style of jean he normally
buys and becomes so frustrated that he leaves the store without making a purchase.
What aspect or characteristic of service best characterizes Mike's experience at the
Buckle near his college?
a. service standards show wide variations
b. services are perishable
c. services are inseparable from the service providers
d. services are intangible
What has five dimensions, is dynamic and ever changing, and drives the marketer’s
decisions about target markets and the marketing mix?
a. The strategic plan
b. The rule of three
c. The marketing concept
d. The marketing environment
e. The customer orientation
The planning process creates a blueprint that everyone in the organization must follow
in order to achieve the organizational objectives.
a. True
b. False
By converting indifferent customers into loyal ones through relationship marketing,
companies can:
a. increase the cost of maintaining existing customers.
b. start a process by which customers become bound contractually to the business.
c. avoid the necessity of improving customer service in the long run.
d. generate repeat sales.
Edward is looking to purchase a new laptop because he is not satisfied with the features
of his old one. He gathers information from his coworkers about the new models
available in the market with the desired features and lists down all the available options.
The next step in Edward’s decision-making process is to:
a. continue looking for more options available in the market.
b. identify the problem he is facing with his current computer.
c. purchase the product from a trusted dealer recommended by his family.
d. compare the prices and features of all the available brands in his list.
Business markets differ from consumer markets in that, in business markets:
a. the products sold are mostly standardized and fit broader market segments compared
to consumer products.
b. the distribution channels are longer as the product passes through a number of
intermediate links.
c. the buying process is less complex and involves fewer decision makers.
d. advertising plays a much smaller role when compared to the consumer market.
The U.S. service sector makes up only one-tenth of the nation’s economy.
a. True
b. False
Conflicts resulting from disagreements among channel members at the same level, such
as two or more wholesalers or two or more retailers, or among marketing intermediaries
of the same type are called _____ conflicts.
a. exclusive
b. vertical
c. horizontal
d. cross-channel
The first stage in the eight-stage model of an organizational buying process involves:
a. determining the characteristics and quantity of a needed good or service.
b. searching for and qualifying potential sources.
c. anticipating a problem, need, or opportunity and a general solution.
d. establishing specifications for a needed good or service.
Your company is in the midst of implementing a relationship marketing approach across
the company. You are leading the project and following the traditional three-level,
relationship marketing continuum as your guide. You are in the final level of the
continuum.
Which of the following statements is true about what you are doing in the final level of
the continuum?
a. You are focusing on the pricing element of your relationship with customers.
b. You focus on developing a mutually-beneficial dependence between the firm and its
customers.
c. You introduce a social feature in order to strengthen relationships with customers.
d. You place a lot of emphasis on customer service.
e. You place a lot of emphasis on communications with your customers.
The concept of the wheel of retailing attempts to explain:
a. the process by which retailers decide the amount and types of products to be sold in
the retail stores.
b. the chain of distribution that is followed by a product before it reaches a retail store.
c. the process by which prices are set in retailing.
d. the patterns of change in retailing.
On average, marketing expenses account for half of the costs involved in a product.
a. True
b. False
Pricing can be used to modify consumer behavior.
a. True
b. False
The exchange value of a good or service defines its:
a. quality.
b. price.
c. durability.
d. production cost.
Relationship selling involves regular contacts between sales representatives and
customers over an extended period.
a. True
b. False
When a fast food restaurant chain joins with a movie studio to promote a new film, it is
an example of cross-promotion.
a. True
b. False
Marketing research aids decision makers in analyzing data and in suggesting possible
actions.
a. True
b. False
You just finished meeting with your boss, who is very upset about the most recent
customer survey results for the firm. A majority of the respondents complained about
the limited number of product lines your firm offers.
Required:
Which of the following recommendations should you make to your boss?
a. The firm needs to shorten its product life cycle.
b. The firm needs to lengthen its product life cycle.
c. The firm needs to expand the depth of its product mix.
d. The firm needs to expand the width of its product mix.
e. The firm needs to expand the length of its product mix.
Calculate the markdown if a retailer decides to reduce the price of an item from $45 to
$38 and sells 500 units.
a. 7%
b. 18.42%
c. 15.56%
d. 9%
Understanding the consumer decision process can be used by marketers to change
consumers’ attitudes about their products.
a. True
b. False
Most states supplement federal legislation with their own unfair-trade laws, which
require sellers to maintain minimum prices for comparable merchandise.
a. True
b. False
Forprofit organizations and notforprofit organizations often form _____.
a. utility
b. buzz marketing
c. exchange process
d. seller’s market
e. buyer’s market
f. marketing myopia
g. social responsibility
h. relationship marketing
i. person marketing
j. place marketing
k. event marketing
l. organization marketing
m. interactive marketing
n. lifetime value of a customer
o. social marketing
p. onetoone marketing
q. strategic alliances
r. notforprofit organizations
s. ethics
t. mobile marketing
u. wholesalers
v. transactionbased marketing
The term “_____” is used to refer to the technical staff such as engineers who affect the
buying decision by supplying information to guide evaluation of alternatives or by
setting buying specifications.
a. merchandisers
b. trade industries
c. remanufacturing
d. nearshoring
e. end-use application segmentation
f. global sourcing
g. joint demand
h. inelastic demand
i. outsourcing
j. value analysis
k. gatekeeper
l. commercial market
m. reciprocity
n. vendor analysis
o. category advisor
p. modified rebuy
q. demographic characteristics based segmentation
r. influencers
s. buyer
t. customer-based segmentation
Prestige pricing establishes a relatively high price to develop and maintain an image of
quality and exclusiveness that appeals to status-conscious consumers.
a. True
b. False
In sponsored events, event organizers control the coverage, which typically focuses on
the sponsor.
a. True
b. False
Major oil companies, such as ExxonMobil and Chevron, often donate large amounts of
money toward political campaigns in an attempt to influence government policy in their
favor. This is an example of environmental management.
a. True
b. False
Which of the following is the newest regulatory frontier for federal and state regulators
in the United States?
a. Protecting competitors
b. Industry deregulation
c. Antimonopoly
d. Cyberspace
Online communities like Internet forums and social networking sites take advantage of
the _____ function of the Internet.
a. entertainment
b. communication
c. information
d. comparison
Setting the timing and sequence for a series of advertisements is called _____.
a. noise
b. advertising
c. promotion
d. publicity
e. sales promotion
f. guerrilla marketing
g. posttesting
h. split runs
i. cooperative advertising
j. marketing public relations
k. media scheduling
l. pretesting
m. informative advertising
n. persuasive advertising
o. retail advertising
p. missiles
q. cross-promotion
r. interactive advertising
s. sponsorship
t. institutional marketing
Which of the following stages in the business cycle forces businesses to hold down
costs, trim payrolls, and cut down travel costs in order to earn profits and cope with
uncertain consumer demand?
a. Recovery
b. Growth
c. Prosperity
d. Maturity
Describe the stages involved in the consumer adoption process.
How does a category manager help retailers to maximize the sales of their products?
Discuss the three primary objectives of advertising.
Under what conditions does personal selling typically become a primary component of
the firm's promotional mix?
Briefly describe the role of technological tools in the functioning of B2B transactions.
Describe the three categories of supplies.
What are the three categories of convenience products? Give examples for each type.
Outline some tips for landing a job in social media marketing.
What is test marketing? What are the challenges associated with test marketing new
products?
Describe the three types of marketing research companies. Give examples.
Why is privacy a major concern for consumers? What are the measures taken by online
marketers to assuage such fears?
Explain the concept of marketing intelligence and the use of metrics.
Briefly describe the four new--product development strategies.
What is importing? What are the factors that marketers need to consider while making
import decisions?
State the expectancy theory of motivation. How can sales managers apply this theory to
motivate their sales force?
Describe the role of ethics in the promotion of products and services.
Why is ethics regarded as a critical issue in marketing research? What are the steps
taken by the government to ensure consumer safety and privacy?
