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Multiple Choice Questions (Enter your answers on the enclosed answer sheet) 1) includes all the actual and potential rival offerings and substitutes that a buyer might consider. A) Competition B) A value proposition C) The product offering 0) The marketing environment E) The supply chain 2)The strength of the depends on the mutually profitable business relationships built by the company and its supporting stakeholders. A) sales network B) supply chain network C) holistic union 0) integrated network E) marketing network 3) When Jack purchases his air-conditioning unit in the winter to avoid the high prices found in the summer, he is exhibiting demand. A) impulse B) irregular C)negative 0) latent E) declining 4) Julia hates smoking and is willing to pay an extra tax just to help eliminate smoking in her city. She is exhibiting with respect to smoking. A) nonexistent demand B) negative demand C)unwholesome demand 0) declining demand E) latent demand 5) If marketers are characterized as "gardening" rather than "hunting," the ___ is most likely to be the concept the marketers are following. A) product concept B) production concept C) sell i ng concept 0) marketing concept E) social responsibility concept 49 Marketing Ma ment 6) When 3M, HP, and Motorola practice researching or imaging latent needs of consumers through a "probe-and-Iearn" process, they are most likely using which of the following marketing orientations with respect to their consumers? A) B) C) D) E) Proactive marketi ng orientation Reactive market orientation Promotion orientation Supply-side orientation Sell ing orientation 7) Kroger supermarkets are aggressively pursuing a strategy of capturing a larger share of the customer's "stomach." Which of the following shifts in marketing management is most appropriate for this example? A) From a focus on gaining market share to a focus on building customer share. B) From building brands through advertising to building brands through performance and integrated communications. C) From marketing does the marketing to everyone does the marketing. D) From focusing on profitable transactions to focusing on customer lifetime value. E) From relyi ng on old market positions to uncoveri ng new ones. 8) Another way to describe a value delivery network (partnering with specific suppliers and distributors) is to call it a ________ _ A) teamwork group B) supply chain C) domestic power center D) link to relationships E) cabal 9) Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process? A) B) C) D) E) revamping the ethics statement reviewing all macro relationships redefining the business concept (the "big idea") reviewing successes from e-commerce (if any) reviewing global outreach projections 10)Harvard professor Ted Levitt argues that _____________ of a business are superior to ____ _ A) B) C) D) E) 50 marketing definitions; market definitions market definitions; product definitions product definitions; service definitions service definitions; market definitions none of the above Marketing Management 11) During Jill's market research study, many customers indicated that traditional oven mitts made it very difficult to hold cooking utensils, pots, and baking dishes, resulting in frequent spills and burns. Jill brought her findings to the research department, and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements, while protecting the cook from burns. This is an example of the element of the holistic marketing framework. A) B) C) D) E) value creation value exploration value delivery value networking value focus 12) Sony's former president, Akio Morita, wanted everyone to have access to "personal portable sound," so his company created the Walkman and portable CD player. This vision was reflected in the company's __________ _ A) B) C) D) E) vertical SWOT analysis consu mer i ntell igence database mission statement 13) Gerber serves primarily baby food. In choosing to focus on the baby market, Gerber is defining its competitive sphere on the basis of __________ _ A) B) C) D) E) industry vertical competence market segment geography 14) The main demographic force that marketers monitor is ___________ _ A) B) C) D) E) popu lation suppliers government reports dealing with birth rates communication (such as advertising) competitors 15) Over the past three decades in the United States, the rich have grown richer and the middle class has _______ _ A) been ignored because of problems with the poorer classes B) shrunk 51 C) stayed about the same D) matched the rich in terms of relative growth E) increased sl ightly 16) Which of the following groups is most vulnerable to recent income distribution trends in the United States? A) B) C) D) E) Pharmaceutical firms Large discount chains Makers of high-end sports cars Expensive and exclusive restaurants Conventional retailers offering medium-priced goods 17)Examples of that were considered to be successful for toy retailers were Beanie Babies, Furbies, and Tickle Me Elmo dolls. A) B) C) D) E) trends styles fashions fads megatrends 18) William rose rapidly in his organization and was the youngest CEO in the company's history. William would be characterized as a ________ _ A) seeker B) preserver C) maker D) taker E) reaper 19) is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. A) B) C) D) E) Demographics MIS (marketing information system) Marketi ng i ntell igence Marketing research Marketing management 20)A is a gathering of 6 to 10 people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss at length various topics of interest. A) consumer dyad B) Nielsen sample family 52 C) focus group D) virtual research market E) market maven 21) In spite of the rapid growth of marketing research, many companies still fail to use it sufficiently or correctly. Barriers to the use of marketing research include all of the following EXCEPT ______ _ A) B) C) D) E) personality and presentational differences a broad conception of the research late and occasionally erroneous findings uneven caliber of researchers poor fram i ng of the probl em 22) One of the don'ts of questionnaire construction is to ensure that fixed responses do not overlap. Which of the following is the best illustration of a problem that this "don't" might cause? A) An income question asks for an income designation in one of the following income categories: $0-$20,000, $20,000-$40,000, or $40,000 and above. B) A consumer is asked whether or not he or she could spy on another consumer's shopping experience. C) A consumer is asked to describe a recent event while driving. D) A consumer must describe a cartoon about buying a car. E) A question has three possible responses: yes, no, or maybe. 23) All of the following would be among the Peppers and Rogers's four-step framework for one-to-one marketing that can be adapted to CRM marketing EXCEPT A) B) C) D) E) identifying your prospects and customers customizing products, services, and messages to each customer always offeri ng the lowest price interacting with individual customers to learn their needs differentiating customers in terms of their needs and value to the company 24) Harley-Davidson sells more than motorcycles and accessories. Its dealerships also sell branded clothing and licensed goods. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ____ _ A) B) C) D) E) 53 enhancing the growth potential of each customer through cross-selling reducing the rate of customer defection making low-profit customers more profitable terminating low-profit customers increasing the longevity of the customer relationship Marketing Management 25) Although actual costs vary from business to business depending on the complexity of the sales process, the most expensive customer acquisition method based on cost per solicitation is ________ _ A) B) C) D) E) 54 personal selling direct mail e-rnail telemarketing banner advertisements Marketing Management Multiple Choice Questions (Enter your answers on the enclosed answer sheet) 1)A(n) is the person who offers informal advice or information about a specific product or product category, such as which of several brands is best or how a particular product may be used. A) B) C) D) E) social factor opinion leader fam i Iy of procreation reference group anchoring heuristic 2) Product choice is greatly affected by economic circumstances. All of the following would be among those circumstances EXCEPT _______ _ A) B) C) D) E) borrowi ng power debts occupation savings and assets spendable income 3)Frederick Herzberg developed a ______________________________ that distinguishes dissatisfiers and satisfiers. A) B) C) D) E) leadership model psychological constraint theory probability scale trait-role theory two-factor theory 4) The brand personality of a new product is characterized as having the trait of ---:-:----:-:----:-:- if promotional messages consistently portray the product as being reliable, intelligent, and successful. A) B) C) D) E) 5) A) B) C) D) E) 117 excitement sincerity ruggedness competence sophistication can work to the advantage of marketers with strong brands when consumers make neutral or ambiguous brand information more positive. Selective embellishment Selective choice Selective retention Selective attention Selective distortion 6) When marketers interview a small number of recent purchasers, asking them to recall the events leading to their purchase, the marketers are using the method to learn more about the consumer buying process. A) B) C) D) E) retrospective descriptive prescri ptive introspective prospective 7)In a purchasing situation, the buyer wants to make some change to existing product specifications, prices, delivery requirements, or other terms. A) B) C) D) E) straight rebuy new rebuy regular buy new task modified rebuy 8) In order to successfully develop customer reference stories, firms should A) B) C) D) E) avoid referencing the barriers to satisfying customer needs focus on qualitative results state the customer's needs in compelling terms describe the company's solution in terms of products and services use very few direct customer quotes 9) is composed of all parties who participate in the purchasing decisionmaking process and share common goals and risks associated with their decisions. A) B) C) D) E) The logistics center Strategic management Engineering support The marketing sales team The buying center 10) Moving into e-procurement has many benefits. Which of the following would not be among those benefits? A) Purchasing gains a significant leverage with top management because of its management team. B) Aggregating purchasing gains centrally negotiated volume discounts. C) There is less buying of substandard goods from suppliers not on the approved list. 118 D) A smaller purchasing staff is required. E) Aggregating purchasing across departments gains larger volume discounts. 11) Which of the following relationships is characterized as being one that has much trust and commitment leading to a true partnership? A) B) C) D) E) Cooperative systems Customer supply Basic buying and selling Mutually adaptive Collaborative 12) If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the as the means to segment. A) B) C) D) E) 13) A) B) C) D) E) occasion buyer-readiness stage usage rate benefit user status is the science of using psychology and demographics to better understand consumers. Demographics Psychographies Segmentation Social psychology Clustering 14) If a marketer is seeking to segment a business market, which of the following variables is generally felt to be the most important? A) B) C) D) E) Personal characteristics Operating variables Purchasing approaches Demographic variables Situational factors 15) If an organization's marketing department wished to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, this action would most likely occur in the step of the segmentation process. 119 Marketing Management A) marketi ng-mix strategy B) segment identification C) segment "acid test" 0) needs-based segmentation E) segment profitabi I ity 16) Which of the following best represents the chief advantage of pursuing a selective specialization multi-segment strategy? A) It is a low-cost strategy. B) It diversifies the firm's risk. C)It makes the company almost bulletproof to competitors' actions. 0) It creates synergy between markets. E) It treats all buyers the same and, therefore, lowers promotion costs. 17) can be defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand. A) Product-driven brand equity B) Service-driven brand equity C)Mission-driven brand equity 0) Customer-based brand equity E) Function-based brand equity 18) A brand manager is concerned that his organization's brand image and physical sales are slipping in the marketplace. The manager has decided to query consumers about the health of the brand and try to discover ways to leverage the brand's equity. Which of the following terms will most likely provide the structure and process for the manager's investigation? A) A secondary search of good brand characteristics B) An organizational audit C)A brand demographic matrix analysis 0) A brand-positioning study E) A brand audit 19) The face of Betty Crocker has been updated several times in the past 75 years without losing any of its brand recognition. This brand element is __________ _ A) likeable B) adaptable C)protectable 0) transferable E) memorable 120 Marketing Management 20) If the Olive Garden sends employees to special classes to teach them the value of the brand and how pasta is much more than just pasta, Olive Garden is using to accomplish this task. A) B) C) D) E) macrobranding internal branding loya Ity marketi ng cohort marketing interruption marketing 21) The preferred approach to positioning is to inform consumers of a brand's membership before stating its ______ _ A) B) C) D) E) point of weakness point of reference point-of-parity point-of-difference point of conflict 22) Managers try to stimulate sales by modifying the product's characteristics. Which of these modifications has as its aim to increase the product's functional performance? A) B) C) D) E) Feature improvement Style improvement Packaging improvement Quality improvement Fashion improvement 23) As a marketing manager, which of the following would be the best purpose for your organization's competitive points-of-parity? A) B) C) D) E) To rationalize competitive points-of-difference To negate competitive points-of-difference To point out competitive points-of-difference To globalize competitive points-of-difference To emphasize competitive points-of-difference 24)A(n) is a group of firms that offer a product or class of products that are close substitutes for one another. A) B) C) D) E) 121 industry cooperative monopoly cartel demand field Marketing Management 25)Using the market approach, __________ are companies that satisfy the same customer need. A) B) C) D) E) 122 entrepreneurs partners competitors followers innovators Marketi ent Multiple Choice Questions (Enter your answers on the enclosed answer sheet) 1) A) B) C) D) E) are tangible goods that normally survive many uses. Durable goods Nondurable goods Consumption systems Services Potential products 2)Most products can be offered with varying ________________________ that supplement its basic function. A) B) C) D) E) 3)A conformance qualities rei iabi I ity features forms none of the above is the set of all products and items a particular seller offers for sale. A) B) C) D) E) family of products product class product system product mix product line 4) The _________ of the product mix refers to the total number of items in the mix. A) B) C) D) E) width length height depth consistency 5)In offering a product line, companies normally develop a _________________________ and modules that can be added to meet different customer requirements. A) B) C) D) E) 175 product basic platform conven ience item "best selling" item staple item Market i en t 6)The of a product mix refers to how many variants are offered of each product in the line. A) B) C) D) E) height depth consistency length width 7) Price-setting logic must be modified when the product is part of a product mix. I n that case, the firm searches for a set of prices that profits on the total mix. A) B) C) D) E) have no effect on total maximize are ineffective on total minimize capitalize upon 8) Some services require that the client be present to conduct the service. An example of such a service is a ______ _ A) B) C) D) E) car repai r fast-food meal medical operation vending machine tax service 9)Services high in qualities are those services that have characteristics the buyer normally finds hard to evaluate even after consumption. A) B) C) D) E) search equipment personal attention experience credence lO)There are shifts that favor the customer in the client relationship. Customers are now becoming more sophisticated about buying product-support services and are pressing for ______ _ A) B) C) D) E) 176 selective pricing services unbundling substitute services institutional pricing/services promotional pricing Market i nt 11) Top service companies are "customer obsessed." They have a clear sense of their target customers and their needs. Their management looks not only at financial performance on a monthly basis, but also at _________ _ A) B) C) D) E) consumer complaints service performance tangible rewards marketing activities none of the above 12) Manufacturers of equipment all must provide product-support services. Companies in these industries must define customer needs carefully in designing their service support program. Customers have three specific worries when discussing product-support services. These three worries include all of the following EXCEPT _____ _ A) B) C) D) E) downtime failure frequency reputation of manufacturer out-of-pocket costs service dependability l3) When restaurants and theme parks add summer workers, they are attempting to manage supply and demand for their services by _________ A) B) C) D) E) sharing services increasing enrollment maximizing non-peak demand introducing complementary services using part-time employees 14) communicates to the market the company's intended value positioning of its product or brand. A) B) C) D) E) Place Packaging Price Product features Promotion 15) Despite its weaknesses, markup pricing remains popular for which of the following reasons? 177 Marketing Management A) Sellers can determine demand much more easily than they can estimate costs. B) Many people feel that cost-plus pricing is fairer to both buyers and sellers. C) By tying the price to cost, sellers make the pricing task more nuanced. D) When all firms in the industry use markup pricing, price competition flourishes. E) Sellers take advantage of buyers when the latter's demand becomes acute. 16)In recent years, companies have adopted , trying to win loyal customers by charging a fairly low price for a high-quality offering. A) high-low pricing B) value pricing C) everyday low pricing D) EDLP E) none of the above 17)In A) B) C) D) E) pricing, the company decides how to price its products to different customers in different locations and countries. offset regional specialty geographical none of the above 18) In exchange for the distribution of your products overseas, your firm has accepted to receive a shipment of imported products in trade. This is an example of what type of countertrade? A) B) C) D) E) Compensation deal Offset Barter Buyback agreement None of the above 19) Transportation companies, independent warehouses, banks, and advertising agencies that assist in the distribution process but neither take title to goods nor negotiate purchases or sales are called _______ _ A) B) C) D) E) 178 merchants marketers facilitators agents none of the above Marketi Managemen t 20) Generally speaking, buyers fall into four categories. Which of the following is NOT one of these categories? A) B) C) D) E) Habitual shoppers Variety-Iovi ng shoppers High-value deal seekers H igh-i nvolvement shoppers Low-involvement shoppers 21)A(n) consists of independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain more economies or sales impact than they could achieve alone. A) B) C) D) E) distributor VMS contractual VMS vertical marketing system administered VMS none of the above 22) Causes of channel conflict include all of the following, EXCEPT __________ _ A) B) C) D) E) dependency unclear goals and rights differences in perception goal incompatibility channel power usage 23) Intermediaries include retailers, ___________ , and logistical organizations. A) B) C) D) E) Internet companies competitors box stores wholesalers none of the above 24) According to A.C. Nielsen Company, when considering whether to stock a new product, store mangers are most influenced by _______ _ A) B) C) D) E) 179 strong evidence of customer acceptance attractive packaging that will catch consumers' attention generous financial incentives to the trade a well-designed advertising and sales promotion plan none of the above nt 25) are independently owned businesses that take title to the merchandise they handle. They are full-service and limited-service jobbers, distributors, and mill supply houses. A) B) C) D) E) 180 Retailers' branches Brokers Specialized wholesalers Merchant wholesalers Agents Marketi ng Management 16) A pharmaceutical sales representative whose role is simply to keep doctors up-to-date on the latest developments of his or her drug company is playing a ___ role. A) B) C) D) E) order taker technician missionary deliverer sol ution vendor 17)Advantages of include that it can be implemented quickly, conducted with a fair amount of security, and carried out without final packaging and advertising. A) B) C) D) E) sales-wave research actual test markets controlled test marketi ng simulated test marketing none of the above 18) Five characteristics influence the rate of adoption of an innovation. One of these is _____ _ A) B) C) D) marketing expertise packaging government regulations relative advantage E) all of the above 19) When Scott Paper couldn't compete with Fort Howard Paper Co. on price for the lucrative institutional toilet tissue market, it decided to differentiate by making larger rolls of paper and providing institutional customers with free dispensers. This is an example of _______ _ A) B) C) D) E) incrementa I innovation disruptive technology fragmented markets perceptual mapping customer-driven engineering 20) Combining two product ideas or concepts to create a new offering, for example, oil change/lubrication facilities with cafes, is an example of __________ _ 247 /' Market i n A) mind mapping t B) lateral marketing C)morphological analysis 0) internal marketing E) forced relationsh i ps 21) A global firm is one ______ _ A) where the strategic positions of competitors are fundamentally affected by their overall global positions B) that operates in more than one country and captures R&O, production, logistical, marketing, and financial advantages not available to purely domestic com petitors C) that operates in more than one country and has a sales and marketing staff in developing countries 0) that has strategic positions in many countries but is not affected by competition researching E) that operates in more than one country and has a sales and marketing staff in those countries 22) An international division that is organized with regional vice presidents for North America, Latin America, Europe, and Africa is said to be a(n) __________ _ A) world product group B) export department C)international subsidiary 0) geographical organization E) none of the above 23) The "Trema" launch was a success! Now, a year later, you have been receiving calls from U.S. dealers complaining that "Trema" is available from international distributors at prices 50 less than the U.S. price. You are faced with a(n) problem due to the international success of your product. A) overstock B) export/import problem C)distributor relationship 0) gray market E) none of the above 24) Several forces are driving companies to practice a higher level of corporate social responsibility. These include _______ _ A) evolving employee goals and ambitions B) rising customer expectations C) investor interests 0) tighter government legislation E) all of the above 248 / nt 25) What is the danger to a firm of limiting its cause-related marketing to one particular cause? A) The cause may not reach enough consumers for the firm to realize a profit from the support. B) The cause may go out of business as a cure is found or the problem(s) is(are) eliminated. C) The firm must cover many bases because they sell to many consumers. D) It may limit the consumers or other stakeholders who could transfer positive feelings from the cause to the firm. E) The cause may be subject to government regulations or investigations, thereby em barrassi ng the firm. 249