Reference no: EM131149559

Question 1: Psychographic segmentation is the:

category that includes the benefits that consumers seek from products and how consumers use the product.

vital starting point for most efforts to segment B2B markets but is seldom used in B2C market.

division of the market based on consumer characteristics such as age, ethnicity, and gender.

category used to complement other types of market segmentation in B2C markets.

Question 2: When Suzanne was shopping for school supplies in the mall, she was approached by a woman with a clipboard, asking questions about her preference for jeans. Therefore, Suzanne is part of __________ research.

secondary

unobtrusive

survey

observation

Question 3: All of the following are outcomes associated with changes in digital technology and the rise of the Internet EXCEPT:

mass customization.

cognitive dissonance.

new types of promotional tools and methods.

a shift in power from producers to customers.

Question 4: The biggest disadvantage of observation research is that it:

tends to be extremely expensive.

yields little or no insight into the motivation behind the observed behavior.

generates secondary data rather than primary data.

focuses on what people say rather than what they actually do.

Question 5: Jesse is the marketing manager for a large Midwest-based producer of food products. He is in the process of developing the __________, which takes into consideration the marketing strategies for product, price, promotion, and place.

competitive mix

value chain

marketing environment

marketing mix

Question 6: A key to successful customer relationship management is to:

develop marketing strategies that are universal.

collect, manage, and apply the right data at the right time to the right customer.

help customers identify new needs-even if they are met by other firms.

focus most marketing resources on the pricing and distribution functions of the marketing mix.

Question 7: A well-chosen target market embodies the following characteristics:

size, profitability, accessibility, and limited competition.

size, limited profitability, accessibility, and competition.

limited size, profitability, accessibility, and intense competition.

size, profitability, limited accessibility, and intense competition.

Question 8: Rapid improvements in digital technology and the rise in Internet usage over the past 20 years have:

shifted the balance of power away from customers and toward producers.

decreased the costs of marketing new products and services.

increased the costs of distributing new products and services.

contributed to a movement away from mass customization and toward demographic marketing exclusively.

Question 9: __________ is a vital starting point for most marketers.

Psychographics

Analyticals

Demographics

Cultural awareness

Question 10: Decisions about advertising, publicity, and product placement are all part of a firm's:

product strategy in its marketing matrix.

promotion strategy in its marketing mix.

demographic strategy in its marketing matrix.

distribution strategy in its marketing mix.

Question 11: __________ refers to marketing activities designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

Brand equity

A pull strategy

Publicity

Trade promotion

Question 12: __________ are brands that a producer owns and markets.

National brands

Private labels

Store brands

Retailer brands

Question 13: The creation of __________ is most likely to mark the beginning of the creative development process for the promotion of a product.

line extensions

brand identity

a mission statement

a positioning statement

Question 14: In its broadest sense, __________ refers to an organization's ongoing efforts to create positive relationships with its consumers, employees, suppliers, the community, the general public, and the government.

publicity

advertising    

sales promotion

public relations

Question 15: Successful product differentiation requires that the:

difference be real rather than merely perceived.

marketers put most of their efforts into developing an appropriate brand name.

product not only be different from those of competitors but also be better.

products have both higher quality and higher cost than those of the competition.

Question 16: Rick is a salesperson for a local company. He has just finished presenting his sales message to a customer. The immediate next step in the selling process is to:

close the sale by asking for payment.

follow up with additional opportunities.

handle objections.

choose the right prospects.

Question 17: __________ involves purchasing the right to use another company's brand name or symbol.

Diffusion

Exporting

Branding

Licensing

Question 18: Many insurance companies utilize __________, while __________ often handle real estate and seasonal products.

merchant wholesalers; retailers

agents; brokers

retailers; distributors

full-service merchants; limited-service merchants

Question 19: When comparing the advantages of trucks and rail as modes of transportation, a key advantage of trucks is that they __________, while an advantage of railroads is that they __________.

are less costly; offer the greatest flexibility in handling

offer faster and more frequent shipments; offer lower shipping costs

offer more flexibility in handling; offer greater dependability

are the fastest mode of transportation; are the most readily available mode of transportation

Question 20: A(n) __________ takes legal possession of the goods being distributed.

broker

agent

merchant wholesaler

store retailer

Question 21: __________ are marketing intermediaries that sell directly to final consumers.

Wholesalers

Brokers

Truck jobbers

Retailers

Question 22: Walmart and Costco achieve long-term profitability through volume sales. They both use __________ pricing strategy.

penetration

high/low

everyday-low

loss-leader

4 points

Question 23: A firm's distribution strategy is concerned with two key elements:

shipping and warehousing.

the channel of distribution and physical distribution.

pricing strategy and credit standards.

facility location and value stream mapping for product flow.

Question 24: Companies like McDonald's, who place their stores in as many locations as possible, are using a strategy called __________ distribution.

intensive

selective

exclusive

direct

Question 25: The goal of distribution strategy is to:

minimize the number of distributors in the channel of distribution.

allocate goods from producers to consumers in the fairest possible way.

reconcile conflicts between pricing strategies and promotion strategies.

get the right product to the right person at the right place at the right time.