Marketing Management (Second half of the semester) (FINAL)

Before calling on a prospect, the salesperson should learn as much as possible about the organization and its buyers. This step is known as ________. A. preapproach B. closing C. approach D. presentation E. prospecting

A. preapproach

A firm should compete with ________ competitors in order to sharpen its abilities. Succeeding against these competitors often provides greater returns. A. strong B. international C. weak D. distant E. smaller

A. strong

While blogs are a fundamentally a consumer-controlled medium, marketers can ________. A. directly contact customers through them B. use insights from them to improve their marketing programs C. offer special promotions to new customers D. retrieve research data from clicks in them E. provide content

B. use insights from them to improve their marketing programs

Tomorrow's leading companies will succeed by seeking out unoccupied positions in uncontested market spaces. Such strategic moves, termed ________, create powerful leaps in value for both the firm and its buyers, creating new demand for new products. A. customer lifetime value B. customer equity C. value innovation D. market segmentation E. customer intimacy

C. value innovation

________ is the process of comparing the company's products and processes to those of competitors or leading firms in other industries to find ways to improve quality and performance. A. Segmenting B. Positioning C. Sales promotion D. Benchmarking E. Publicity

D. Benchmarking

________ refers to the sales step in which a salesperson asks the customer for an order. A. Prospecting B. Demonstration C. Approach D. Closing E. Handling objections

D. Closing

________ 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

D. Promotional products

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

D. try to expand their market share further, even if market size remains constant

Effective Web sites contain interactive tools that help find and evaluate content of interest, links to other related sites, useful information, changing promotional offers, and ________. A. celebrity endorsers B. respected columnists C. advertising for unrelated products D. enticements for customers to include their friends and contacts E. entertaining features that lend excitement

E. entertaining features that lend excitement

________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid. A. Competitor analysis B. Self-competition C. Blue ocean strategy D. Quantitative analysis E. Perfect competition

A. Competitor analysis

________ 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

A. Rebates

________ was established to replace GATT in 1995 and now oversees the original GATT provisions. A. The WTO B. The EU C. NAFTA D. CAFTA E. NATO

A. The WTO

Foreign firms are expanding aggressively into new international markets, and home markets are no longer as rich in opportunity. A. True B. False

A. True

One common form of Internet fraud is phishing, a type of identity theft that uses deceptive e-mails and fraudulent online sites to fool users into divulging personal data. A. True B. False

A. True

To enable customers to opt out of seeing particular ads, marketers use a(n) ________. This is added to behaviorally targeted online ads to tell consumers why they are seeing a particular ad. A. advertising option icon B. opt-in question C. X to close the ad D. survey E. questionnaire

A. advertising option icon

When companies serve customers who are willing to pay a premium to get precisely what they want and the company responds quickly to satisfy these customers' needs, the company has achieved ________. A. customer intimacy B. product differentiation C. operational excellence D. product leadership E. focus

A. customer intimacy

An analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors' offers is known as ________. A. customer lifetime value B. customer value analysis C. quantitative analysis D. brand value proposition E. benchmarking

A. customer lifetime value

Neal Murphy sells his company's unique products on television programs. He hosts a 30-minute show in which he demonstrates and explains the advantages of the product. At the end of the show, a toll-free number is displayed on the screen that can be used by viewers to place their orders for the product. Which of the following forms of advertising is evident here? A. direct-response television advertising B. telemarketing C. interactive television marketing D. podcast marketing E. kiosk marketing

A. direct-response television advertising

In addition to sending samples of sheet music to schools, Gary sends school music directors messages with links to sample digital clips of the compositions. What kind of marketing is this? A. e-mail marketing B. viral marketing C. kiosk marketing D. mobile marketing E. catalog marketing

A. e-mail marketing

Blue Fizz Inc. sponsors every race that takes place at the Sears Racing Track in Orange County, California. The high-octane racing at Sears is perfect for Blue Fizz to sell its energy drinks and to establish the desired brand image of the company. Which type of promotion is evident here? A. event marketing B. mass marketing C. point-of-purchase promotion D. solution selling E. advertising specialties

A. event marketing

Sales promotions are targeted toward members of the sales force, business customers, retailers, wholesalers, and ________. A. final buyers B. employees C. manufacturers D. suppliers E. upstream companies

A. final buyers

With direct marketing, companies can interact with customers in all of the following ways EXCEPT ________. A. in person B. learning more about customers' needs C. personalizing products and services D. answering questions from customers E. by phone or online

A. in person

Which term refers to an in-store machine that allows a customer to order merchandise not carried in the store? A. kiosk B. automated teller machine C. virtual catalog D. interactive TV E. direct-response device

A. kiosk

A runner-up firm that wants to hold its share in an industry without rocking the boat is a ________. A. market follower B. market maven C. market challenger D. market nicher E. market leader

A. market follower

The market subsegment that a company exclusively caters to may dry up, or it might grow to the point that it attracts larger competitors. This is why such companies practice ________. A. multiple niching B. mass marketing C. overall cost leadership D. low-price strategies E. dumping

A. multiple niching

Orion is planning to give away free mouse pads imprinted with the company logo and name to anyone who enters their store on the day they launch their new laser mouse. What kind of sales promotion is Orion planning? A. promotional products B. rebate C. price packs D. sweepstakes E. premiums

A. promotional products

Bose offers $50 cash back to customers who purchase a new speaker and send in a proof of purchase. This is an example of a ________. A. rebate B. POP promotion C. price pack D. premium E. sample

A. rebate

What action do consumers continue to perform even though a majority are concerned with identify theft? A. shopping online B. searching for product information C. reading reviews from friends on Facebook D. sending and responding to e-mail messages E. watching videos

A. shopping online

Designing international channels that take into account the entire global supply chain and marketing channel, thus forging an effective global value delivery network, recognizes a company must have a ________. A. whole-channel view B. direct-distribution channel C. large-scale channel D. transportation network E. retail channel

A. whole-channel view

What is most likely a strategic benefit of the existence of competitors? A. Competitors seldom lead to product differentiation. B. Competitors help legitimize new technologies. C. Competitors exclusively serve more-attractive segments. D. Competitors fracture the target market. E. Competitors decrease the total demand.

B. Competitors help legitimize new technologies.

All companies must have salespeople. A. True B. False

B. False

Online-only companies are more successful than omni-channel marketing companies. A. True B. False

B. False

Why does direct-mail marketing most likely remain a popular promotional tool for marketers? A. It does not disturb consumers enrolled in the Do Not Call Registry. B. It provides something tangible for people to keep. C. It builds long-term customer relationships. D. It involves very low marketing costs. E. It reaches the consumer very quickly.

B. It provides something tangible for people to keep.

________ are designed to engage consumers in interactions that will move them closer to a direct purchase or other marketing outcome. A. Online magazines B. Marketing Web sites C. Search engines D. Digital catalogs E. Podcasts

B. Marketing Web sites

________ are goods offered either free or at low cost as an incentive to buy a product, ranging from toys included with kids' products to phone cards and DVDs. A. Coupons B. Premiums C. Price packs D. Rebates E. Cents-off deals

B. Premiums

________ weakens a given promotion's ability to trigger an immediate purchase. A. A customer-oriented promotion mix B. Promotion clutter C. Puffery D. Local marketing E. Niche marketing

B. Promotion clutter

________ is defined as analyzing, planning, implementing, and controlling sales force activities. A. Benchmarking B. Sales force management C. Business intelligence D. Sales force automation E. Sampling

B. Sales force management

Companies must attract visitors to their Web sites. Which of the following is a method companies use to entice visitors not just to visit but also to return to a site? A. using flashy graphics, bright colors and vivid pictures B. aggressively promoting the site in broadcast advertising and through ads and links on other sites C. offering prizes for visiting the site D. providing rewards for visitors connecting their friends to the site E. requiring registration on the first visit to the site

B. aggressively promoting the site in broadcast advertising and through ads and links on other sites

In the context of identifying competitors' strategies, the more that one firm's strategy resembles another firm's strategy, the more likely the two firms are to ________. A. merge B. compete C. globalize D. form a partnership E. become market leaders

B. compete

To plan effective marketing strategies, a company needs to find out all it can about its competitors. It must constantly compare its marketing strategies, products, prices, channels, and promotions with those of close competitors. This is an example of ________. A. blue ocean strategy B. competitor analysis C. organizational evaluation D. perfect competition E. quantitative analysis

B. competitor analysis

A company can become so ________ centered that it loses its even more important focus on maintaining profitable ________ relationships. A. customer; competitor B. competitor; customer C. market; customer D. market; competitor E. competitor; product

B. competitor; customer

Purposes of social selling, the use of online, mobile, and social media, are to do all of the following EXCEPT ________. A. augment sales performance B. eliminate person-to-person selling C. build stronger customer relationships D. engage customers E. provide customers more control over the selling process

B. eliminate person-to-person selling

Trade shows most likely help companies to ________. A. maximize productivity B. find new sales leads C. trim overhead costs D. reduce the inside sales force E. shorten the selling process

B. find new sales leads

Companies that operate large marketing departments, conduct expensive marketing research, spell out elaborate competitive strategies, and spend huge sums on advertising are using ________ marketing strategies. A. informal B. formulated C. entrepreneurial D. intrepreneurial E. blue ocean

B. formulated

In a(n) ________ economy, fast growth in manufacturing results in rapid overall economic growth. A. industrial B. industrializing C. materials exporting D. subsistence E. agrarian

B. industrializing

A hybrid sales rep ________. A. works exclusively from remote locations B. is a modern cross between a field sales rep and an inside rep C. rarely engages in face-to-face interactions with customers D. performs sales audits E. sets the sales objectives of companies

B. is a modern cross between a field sales rep and an inside rep

The market leader normally gains the most when ________. A. its total market diminishes B. it achieves expanded market share C. its personal communication channels expand D. the niche marketing efforts by other firms expand E. the major global competitors enter the market

B. it achieves expanded market share

A company that pursues ________ will react much more strongly to a competitor's cost reducing manufacturing breakthrough than to the same competitor's advertising increase. A. product differentiation B. low-cost leadership C. customer intimacy D. a middle-of-the-roaders strategy E. product leadership

B. low-cost leadership

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

B. market-centered

Which kind of social media networks are smaller communities likely to join or create? A. blog B. niche C. Internet D. video E. commercial

B. niche

A five-foot high cardboard display of Terry the polar bear, mascot of Terry's protein shake, next to the shelf containing Terry's products in a supermarket is an example of a(n) ________. A. sample B. point-of-purchase promotion C. business promotion D. advertising specialty E. rebate

B. point-of-purchase promotion

________ refers to the standard that establishes the amount each salesperson should sell and how sales should be divided among the company's products. A. Conditional sale B. A bill of sale C. A sales quota D. Prospecting E. Satisficing

C. A sales quota

________ refers to a practice in which salespeople drop in unannounced on various offices. A. Hybrid selling B. Niche marketing C. Cold calling D. Value selling E. Direct marketing

C. Cold calling

________ companies use both offline and online marketing channels. A. Start-up B. Click-only C. Omni-channel retailing D. Brick-and-mortar E. Brick-only

C. Omni-channel retailing

What is the primary advantage of printed catalogs? A. filtering out interested prospects B. offering immediate rebates and coupons C. building emotional connections with customers D. offering unlimited space for merchandise details E. reaching consumers in a quick and inexpensive manner

C. building emotional connections with customers

Changing promotions to suit local markets is known as ________. A. straight product extension B. ambush marketing C. communication adaptation D. product adaptation E. standardized global marketing

C. communication adaptation

Strategies that strongly position a company against competitors and that give the company the best possible strategic advantage are ________ strategies. A. competitor analysis B. customer relationship C. competitive marketing D. competitive relationship E. customer identification

C. competitive marketing

Market leaders can expand the market by ________ and more usage of the product. A. identifying competitors B. initiating monopolistic practices C. developing new users D. ensuring users adhere to higher standards E. initiating new rules for product users

C. developing new users

Which of the following types of marketing is being illustrated from this statement? A. kiosk marketing B. viral marketing C. direct-mail marketing D. telemarketing E. direct-response television marketing

C. direct-mail marketing

If a company's offer delivers greater value by exceeding the competitor's offer on important attributes, the company can charge a higher price and ________, or it can charge the same price and ________. A. earn lower profits; gain higher profits B. earn higher profits; lose profits C. earn higher profits; gain more market share D. lose profits; gain more market share E. lose profits; gain higher profits

C. earn higher profits; gain more market share

A(n) ________ community is a group of nations organized to work toward common goals in the regulation of international trade. A. joint venture B. strategic marketing C. economic D. joint-stock E. multilateral

C. economic

All of the following are traits that buyers dislike in salespeople EXCEPT ________. A. disorganization B. tardiness C. empathy D. being overly talkative E. deceit

C. empathy

Most companies are started by individuals who live by their wits. They visualize an opportunity, take risks, and knock on every door to gain attention. Which of the following stages in marketing strategy is being illustrated here? A. exponential marketing B. formulated marketing C. entrepreneurial marketing D. affinity marketing E. ambush marketing

C. entrepreneurial marketing

A firm often enters international marketing by simply shipping its goods out of the country. If its international sales expand, the company often organizes a(n) ________. A. indirect exporting venture B. joint ownership C. export department D. international division E. standardized global marketing strategy

C. export department

Whereas the mass marketer achieves ________, the nicher achieves ________. A. low margins; low volume B. low volume; high margins C. high volume; high margins D. high volume; low margins E. high margins; high volume

C. high volume; high margins

Rather than challenging head on, a challenger can make a(n) ________ attack on the competitor's weaknesses or on gaps in the competitor's market coverage. A. bypass B. frontal C. indirect D. guerrilla E. preemptive

C. indirect

Market niching is profitable because the company ________. A. copies or improves on the leader's products and programs, usually with much less investment B. bears the cost of developing new products and markets, expanding distribution, and educating the market C. knows the needs of the target customer segment better than other firms that casually attempt to sell to the same segment D. either keeps its manufacturing costs and prices low or its product quality and services high E. can achieve economies of scale much faster by selling the same product to the global market

C. knows the needs of the target customer segment better than other firms that casually attempt to sell to the same segment

Mobile marketing is used to enrich the brand experience, stimulate immediate buying, or ________. A. decrease advertising costs B. help friends contact friends C. make shopping easier D. create new customer relationships E. find new suppliers

C. make shopping easier

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

C. market

Most of the market is in the hands of the ________, the firm with the largest market share. A. market challenger B. market follower C. market leader D. market nicher E. market maven

C. market leader

More and more companies are moving away from high-commission plans because ________. A. outside salespeople tend to undermine the efforts of the inside sales team B. high-commission plans require salespeople to work overtime C. salespeople tend to become pushy which affects customer relationships D. salespeople are prone to taking multiple sales jobs to maximize their income E. salespeople end up spending too much time traveling to meet customers

C. salespeople tend to become pushy which affects customer relationships

Amanda Perkins is a senior sales manager in Arlington Steelworks. As the customer base of her company has grown larger and more demanding over the last few years, Amanda insists on ________, or using groups of people from various departments such as sales, technical support, engineering, and even upper management to service complex accounts. A. cross selling B. e-procurement C. team selling D. observational research E. vendor screening

C. team selling

A(n) ________ shows how much time is spent selling, traveling, waiting, taking breaks, and doing administrative chores by the salesperson. A. customer relationship management tool B. corporate social networking site C. time-and-duty analysis tool D. outsourcing relationship management tool E. product lifecycle management analysis

C. time-and-duty analysis tool

________ involves sending an offer, announcement, reminder, or other item to a person at a particular address. A. Kiosk marketing B. Online marketing C. Ambush marketing D. Direct-mail marketing E. Telemarketing

D. Direct-mail marketing

________ marketing features marketing messages and promotions delivered to on-the-go consumers through their handheld devices. A. Kiosk B. Ambush C. Direct-mail D. Mobile E. Catalog

D. Mobile

________ include displays and demonstrations that take place at the point of sale. A. Rebates B. Price packs C. Premiums D. POP promotions E. Samples

D. POP promotions

________ consists of short-term incentives to encourage the purchase of a product or service. A. Value selling B. Conditional sale C. Advertising D. Sales promotion E. Benchmarking

D. Sales promotion

Oscarz Aviation's Web site, GoOscarzAv.com, informs customers about a wide variety of services offered by the firm. It also has a guestbook where customers can provide feedback on their experiences with Oscarz Aviation. They can also view videos Oscarz Aviation posts, as well as read and respond to blogs and ask questions. GoOscarzAv.com is an example of a(n) ________. A. online social network B. blog C. kiosk D. branded community Web site E. digital catalog

D. branded community Web site

The first step in initiating competitive marketing strategies is to ________. A. balance customer and competitor orientations B. design broad competitive marketing strategies C. assess long-term organizational objectives D. conduct competitor analysis E. conduct transaction analysis

D. conduct competitor analysis

What are the stages that the approaches to marketing strategy and practice usually pass through? A. ambush marketing, multi-level marketing, and guerrilla marketing B. guerrilla marketing, ambush marketing, and affinity marketing C. multi-level marketing, undercover marketing, and evangelism marketing D. entrepreneurial marketing, formulated marketing, and intrapreneurial marketing E. undercover marketing, affinity marketing, and ambush marketing

D. entrepreneurial marketing, formulated marketing, and intrapreneurial marketing

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

D. event marketing

A(n) ________ serves to limit the amount of foreign exchange and the exchange rate against other currencies. A. exchange premium B. free trade zone C. quota D. exchange control E. tariff trade barrier

D. exchange control

All of the following are problems associated with the poor selection of salespeople EXCEPT ________. A. lower sales B. costly turnover C. less productivity D. fewer training expenses E. disruptive customer relationships

D. fewer training expenses

If a company ________, it should adopt a product sales force structure, in which the sales force specializes along product lines. A. specializes in a single product B. manufactures a small number of simple products C. maintains that product specialization is counterproductive D. has numerous and complex products E. lacks salespeople with superior technical know-how

D. has numerous and complex products

The two key economic factors reflecting a country's attractiveness as a market are its industrial structure and its ________. A. communication adaptation B. nontariff trade barriers C. exchange controls D. income distribution E. transportation systems

D. income distribution

The purpose of a training program for salespeople is to teach them about all of the following EXCEPT ________. A. customers' buying habits B. customers' buying motives C. competitor strategies D. industry history E. company goals

D. industry history

Which kind of Web site does Treble Clef use? A. branded community Web site B. corporate Web site C. investor relations Web site D. marketing Web site E. online Web site

D. marketing Web site

What is a significant issue for social media and for companies using it as a marketing tool? A. measuring viewership B. creating content C. identifying target markets D. monetizing the tool E. recognizing effective social media sites

D. monetizing the tool

Online marketing includes marketing via the Internet using company Web sites, e-mail marketing, blogs, and ________. A. direct mail brochures B. live demonstrations C. samples D. online video E. focus groups

D. online video

During the prospecting stage, a salesperson needs to identify the good leads and screen out the poor ones through a process known as ________. A. closing B. satisficing C. presenting D. qualifying E. approaching

D. qualifying

Which consumer promotion tool requires the consumer to provide a proof of purchase to the manufacturer? A. price packs B. coupons C. samples D. rebates E. displays

D. rebates

Firms that decide against international expansion to play it safe ________. A. protect themselves from competition at home B. gain a competitive edge against imports in their home markets C. successfully shield themselves from foreign competition D. risk losing their home markets E. increase their chances of entering other markets

D. risk losing their home markets

________ allows consumers to gain additional information about a product through the use of a remote control. A. Telemarketing B. Kiosk marketing C. Podcasting D. Video conferencing E. Interactive television

E. Interactive television

What is a disadvantage of a viral success? A. Many people will see the marketing message. B. The cost per exposure is relatively low. C. Word-of-mouth is strong. D. Publicity is always good. E. Marketers have little control over where the message ends up.

E. Marketers have little control over where the message ends up.

How has do-not-call legislation helped direct marketers? A. Marketers are compensated by the Federal Trade Commission for lost sales caused by the laws. B. Direct marketers have outsourced their activities to firms that are exempt from such laws. C. Direct marketers have developed kiosks as an alternative to telemarketing. D. Telemarketers are allowed to call customers for a small fee. E. Telemarketers have developed opt-in calling systems that target consumers who have chosen to be contacted and therefore are less invasive.

E. Telemarketers have developed opt-in calling systems that target consumers who have chosen to be contacted and therefore are less invasive.

Online companies include all of the following EXCEPT ________. A. content sites B. online social media C. search engines and portals D. transaction sites E. brick-and-mortar

E. brick-and-mortar

A company is guilty of ________ if the company forgets latent competitors and only focuses on current competitors. A. perfect competition B. self-competition C. Cournot competition D. competitor backlinking E. competitor myopia

E. competitor myopia

Many approaches to developing effective competitive marketing strategies exist. There may be ________ between the formulated side of marketing and the creative side, as creativity and passion help build and maintain success. A. collaboration B. strong disagreements C. managerial conflicts D. productive meetings E. constant tension

E. constant tension

Music Mogul has arrangements with several stores and retail chains to place their DVDs and digital music machines in prime spots such as near billing counters and at store entrances. Consumers can buy DVDs by depositing payment or they can buy music online via the touchscreen interface on the machine. Which form of marketing is illustrated in this scenario? A. direct-response television advertising B. telemarketing C. interactive television D. podcast marketing E. kiosk marketing

E. kiosk marketing

Countries with ________ economies consist mostly of households with very low family incomes. A. industrial B. industrializing C. raw material exporting D. emerging E. subsistence

E. subsistence