All Quizzes
_____ loyalty refers to a customer habitually purchasing a product, while ____ loyalty refers to the degree to which a customer prefers or likes a brand. Select one: a. Behavioral; attitudinal b. Customer; viral c. Attitudinal; behavioral d. Viral; customer e. Behavioral; customer
a. Behavioral; attitudinal -Unit 8
_____ involves a selling strategy in which a salesperson uses special expertise to create a somewhat customized solution to a buyer's problem. Select one: a. Consultative selling b. Right-sales selling c. Script-based selling d. Strategic-partner selling e. Needs-satisfaction selling
a. Consultative selling -Unit 7
_____ seeks to measure or describe phenomenon so as to answer the questions who, what, where, when and how. Select one: a. Descriptive research b. Causal research c. Projective research d. Experimental research e. Exploratory research
a. Descriptive research -Units 1-3
_____ refers to the possibility that the company will fail to earn the appropriate return on the money and effort it puts into the new product. Select one: a. Investment risk b. Financial risk c. Opportunity risk d. Innovation risk e. Product risk
a. Investment risk -Units 4-6
A unique selling proposition is Select one: a. a specific benefit consumers will remember. b. a brand name. c. a repositioning technique. d. a discounted price. e. an alternative sales method.
a. a specific benefit consumers will remember. -Unit 5
Which is the correct association between the AMA's definition of marketing and the corresponding element of the marketing mix? a. creating offerings > Product b. communicating offerings > Product c. delivering offerings > Price d. exchanging offerings > Place e. providing offerings > Profit
a. creating offerings > Product -Unit 1
What step in one-to-one marketing involves determining who your best customers are in terms of what they spend and will spend in the future? Select one: a. differentiate among your customers b. better understand the competition's customer c. identify your customers d. create a marketing message that can be mass produced e. establish short-term measures to evaluate your efforts
a. differentiate among your customers -Units 4-6
Cutting middlemen out of the channel is known as Select one: a. disintermediation. b. restructuring. c. strategic distribution. d. dismemberment. e. rearranging.
a. disintermediation. -Units 4-6
All of the people and organizations that buy, resell, and promote a product "downstream" as it makes it to the end user is referred to as the _____. Select one: a. distribution channel b. retail channel c. supply channel d. communication channel e. business channel
a. distribution channel -Units 4-6
Price is the _____ marketing variable to change and the _____ to copy. Select one: a. easiest; easiest b. easiest; longest c. easiest; hardest d. hardest; easiest e. hardest; hardest
a. easiest; easiest -Unit 8
Stealing product strategy information from a competitor is known as Select one: a. industrial espionage. b. competitive intelligence. c. product investigation. d. consumer protection. e. strategic marketing.
a. industrial espionage. -ChaptUniter 1
Customers who are good at generating new product ideas or applications of products are called _____. Select one: a. lead users b. alpha testers c. innovators d. first movers e. trend setters
a. lead users -Units 4-6
Selling the same product to all consumers is known as _____. Select one: a. mass marketing b. niche marketing c. differentiated marketing d. one-to-one marketing e. psychographic marketing
a. mass marketing -Units 4-6
The stage in the product life cycle when the market is saturated with competitors is known as the _____ stage. Select one: a. maturity b. growth c. introduction d. decline e. downsizing
a. maturity -Unit 4
Most consumer products are in the _____ stage of their life cycle. Select one: a. maturity b. growth c. introduction d. decline e. downsizing
a. maturity -Units 4-6
A company that implements programs to encourage customer loyalty is utilizing what type of pricing objective? Select one: a. maximizing profits b. maintaining the status quo c. targeted return on investment d. maximizing market share e. maximizing sales
a. maximizing profits -Unit 8
An individual's disposition as other people see it is known as _____. Select one: a. personality b. self-concept c. ideal self d. psychographics e. motivation
a. personality -Units 1-3
By utilizing sales promotions, companies hope to Select one: a. persuade customers to take action quickly. b. build long-term relationships with nonprofit organizations. c. manage crisis situations. d. raise advertising revenue. e. generate exposure and improve the corporate image.
a. persuade customers to take action quickly. -Unit 7
A scan of the _____ should include any new government regulations as well as legislation. Select one: a. political climate b. technological environment c. demographic climate d. economic climate e. social and cultural environment
a. political climate -Units 1-3
Offerings are _____. Select one: a. products and services designed to deliver value to customers b. services designed to satisfy customer needs c. products designed to satisfy customer wants d. products and services designed to deliver value to a firm e. products and services designed to add value to the firms marketing mix
a. products and services designed to deliver value to customers -Unit 4
Which of the following is NOT part of the marketing mix, also known as the "four Ps"? a. profit b. product c. price d. place e. promotion
a. profit -Unit 1
The different types of marketing communications an organization uses comprise its _____. Select one: a. promotional mix b. personal selling c. advertising d. publicity e. direct marketing
a. promotional mix -Unit 5
Marketing plans aid CMOs in Select one: a. setting their organization's marketing expectations. b. funding employment salaries and benefits. c. understanding the roles of their customers. d. setting customer service tolerance zones. e. tracking advertisements.
a. setting their organization's marketing expectations. -Unit 2
Which element is included in the bundle that is the company's offering to the customer? a. tangible elements b. place c. supply chain d. advertising e. end user
a. tangible elements -Unit 1
What is the correct order of strategic development for today's marketing organizations? Select one: a. the mission statement, the corporate strategy, and the marketing plan b. the corporate strategy, the mission statement, and the marketing plan c. the marketing plan, the mission statement, and the corporate strategy d. the marketing plan, the corporate strategy, and the mission statement e. the mission statement, the marketing plan, and the corporate strategy
a. the mission statement, the corporate strategy, and the marketing plan -Units 1-3
Family life cycle refers to Select one: a. the stages families go through over time and how it affects people's buying behavior. b. the buying behavior of a family that results in a particular amount of buying power. c. how often the family purchases particular products in a month. d. how often a family travels together. e. the amount of time that passes between each having each child.
a. the stages families go through over time and how it affects people's buying behavior. -Unit 5
The marketing plan should constantly answer the question Select one: a. "What is the biggest challenge of the company?" b. "Why should I invest in this plan?" c. "How will the company aid shareholders?" d. "How will this help the CMO?" e. "Why should I buy your brand?"
b. "Why should I invest in this plan?" -Unit 2
_____ are groups of people within organizations who make purchasing decisions . Select one: a. Resellers b. Buying centers c. Gatekeepers d. Influencers e. Marketers
b. Buying centers -Units 1-3
_____ reward a person for frequent purchases. Select one: a. Longevity b. Loyalty programs c. Attitudinal loyalty d. Advertising e. Behavioral loyalty
b. Loyalty programs -Unit 8
_____ combines the lifestyle traits of consumers and their personality styles with an analysis of their attitudes, activities, and values to determine groups of consumers with similar characteristics . Select one: a. Target market analysis b. Psychographics c. Market penetration d. Motivational studies e. Segmentation analysis
b. Psychographics -Units 1-3
A brand is _____. Select one: a. simply a label b. a name, picture, design, or symbol used by a seller to differentiate their offerings c. a picture that is similar to another company's design d. a slogan that conveys the firm's image e. an advertising campaign
b. a name, picture, design, or symbol used by a seller to differentiate their offerings -Unit 4
When the Elliott Corporation decides to exhibit its products in an industry trade show,it is performing which marketing activity Select one: a. creating offerings b. communicating offerings c. delivering offerings d. exchanging offerings e. providing offerings
b. communicating offerings -Units 1-3
Delivering what is promised, when it was promised, and the way it was promised are key drivers of _____. Select one: a. cross-docking b. customer satisfaction c. supply chain value d. distribution centers e. electronic data interchanges
b. customer satisfaction -Units 4-6
Market trends can be uncovered internally utilizing Select one: a. industrial espionage. b. data mining techniques. c. repositioning. d. alpha testing. e. product launch.
b. data mining techniques. -Unit 1
Marketers who start with the price demanded by consumers and then create offerings to meet the price are utilizing which pricing strategy? Select one: a. forward pricing b. demand backward pricing c. price lining d. premium pricing e. odd-even pricing
b. demand backward pricing -Unit 8
The most risky global entry strategy is known as _____. Select one: a. strategic alliance b. direct foreign investment c. joint venture d. franchising e. exporting
b. direct foreign investment -Units 4-6
Price elasticity is calculated by Select one: a. multiplying the change in quantity demanded times the percentage change in price. b. dividing the change in quantity demanded by the percentage change in price. c. adding the percentage change in price plus the change in quantity demanded. d. dividing the percentage change in price by the change in quantity demanded. e. multiplying the percentage change in price times the change in quantity demanded.
b. dividing the change in quantity demanded by the percentage change in price. -Unit 8
City size and population density are utilized in relation to which type of segmentation strategy? Select one: a. targeted segmentation b. geographic segmentation c. demographic segmentation d. geodemographic segmentation e. benefit segmentation
b. geographic segmentation -Unit 5
The stage in the product life cycle when a successful product first becomes profitable is known as the _____ stage. Select one: a. maturity b. growth c. introduction d. decline e. downsizing
b. growth -Units 4-6
Purchasing a product with no planning or forethought is called _____. Select one: a. extended problem solving b. impulse buying c. high-involvement purchasing d. evaluation implementation e. postpurchase dissonance
b. impulse buying -Units 1-3
The business market is characterized as having Select one: a. many customers, geographically dispersed. b. longer decision cycles. c. smaller total dollar amounts due to fewer transactions. d. more reliance on advertising, Web sites, and retailing. e. more reliance on mass marketing.
b. longer decision cycles. -Units 1-3
The ____ is a document that is designed to communicate the marketing strategy for an offering. Select one: a. research paper b. market plan c. mission statement d. annual report e. execution strategy
b. market plan -Unit 2
Cold calling is associated with a(n) Select one: a. trade salesperson. b. prospector. c. professional marketer. d. account manager. e. missionary salesperson.
b. prospector. -Unit 7
The purpose of a value proposition is to Select one: a. provide the firm with a reason why buyers prefer their product or service offering. b. provide the buyer with a reason why the product or service is superior to competing offers. c. provide the buyer with a price point for purchase. d. provide the firm with a moral code of ethics. e. provide the seller with a price point for purchase.
b. provide the buyer with a reason why the product or service is superior to competing offers. -Unit 2
Promotional activities that are implemented to generate short-term excitement are _____. Select one: a. public relations b. sales promotions c. publicity d. personal selling e. advertising
b. sales promotions -Unit 7
Consumers often care about brand names when they are deciding on _____. Select one: a. convenience offerings b. shopping offerings c. specialty offerings d. unsought offerings e. product offerings
b. shopping offerings -Units 4-6
A(n) _____ is utilized to get back the money invested in creating a new product offering. Select one: a. investment pricing strategy b. skimming pricing strategy c. cost-based pricing strategy d. penetration pricing strategy e. competitor-based pricing strategy
b. skimming pricing strategy -Unit 4
The _____ process helps an organization allocate its resources under different conditions to accomplish its objectives, deliver value, and be competitive in a market-driven economy. Select one: a. corporate planning b. strategic planning c. business planning d. market forecasting e. business forecasting
b. strategic planning -Unit 2
The _____ section of the marketing plan offers the opportunity to create a compelling argument as to what you intend to do and why others should invest in the strategy. Select one: a. executive summary b. strategy c. business challenge d. market e. conclusion
b. strategy -Unit 2
The group of customers toward which an organization directs its marketing efforts is known as the _____. Select one: a. constituency b. target market c. direct market d. value group e. key market
b. target market -Unit 2
Characteristics of secondary research include Select one: a. it is time consuming. b. the data is collected for another purpose. c. it is work intensive. d. it is relatively expensive. e. it is tailored to the research at hand.
b. the data is collected for another purpose. -Units 1-3
Customers are more likely to tell others about negative experiences with companies than positive ones because Select one: a. people are not interested in hearing about successful products. b. there is more drama involved in unmet expectations. c. customers do not like to brag about good experiences. d. good companies have their own advertising initiatives. e. buyer's remorse is a positive experience.
b. there is more drama involved in unmet expectations. -Unit 8
Which of the following examples best illustrates the marketing concept? Select one: a. A mail-order company begins using less expensive packing material to increase profits per sale. b. A manufacturing firm opens a new distribution facility closer to the factory. c. A catering firm decides to expand its hours of operations to better serve working mothers. d. A beverage distributor installs vending machines which show the operation of the machine to the customer. e. A food company puts nutritional information on its packages.
c. A catering firm decides to expand its hours of operations to better serve working mothers. -Unit 1
_____ are a great tool for situations that require adaptation, customer education, and other value-adding activities. Select one: a. Advertisements b. Press releases c. Salespeople d. Coupons e. Prospects
c. Salespeople -Unit 7
Marketing information systems involve all of the following EXCEPT Select one: a. a system for collecting market intelligence on an ongoing basis. b. a system for recording marketing research information. c. a system for collecting test market information. d. a system for recording internally generated data and reports. e. marketing analytics software to help managers with their decision making.
c. a system for collecting test market information. -Unit 1
Data is combined with statistical techniques by Select one: a. marketing interns. b. market trend analysis. c. analytics software. d. CRM. e. the intranet.
c. analytics software. -Unit 1
Michael Porter's five forces model includes all of the following EXCEPT: Select one: a. rivalries of existing companies. b. threat of substitute products. c. bargaining power of buyers. d. threat of supplier penetration development. e. threat of new entrants.
c. bargaining power of buyers. -Units 1-3
Good public relations efforts Select one: a. keep all negative accusations from being written. b. are defined by national awards. c. can help a firm create rapport with its customers. d. are hired outside of the firm. e. involve running contests and games to keep customers engaged.
c. can help a firm create rapport with its customers. -Unit 7
The advantage of market research is that it Select one: a. can be expensive. b. takes time. c. can help make a good decision. d. is infallible. e. is always done.
c. can help make a good decision. -Unit 1
Choosing select groups of people to sell to is called _____. Select one: a. mass marketing b. niche marketing c. differentiated marketing d. one-to-one marketing e. psychographic marketing
c. differentiated marketing -Unit 5
Telemarketing is an example of Select one: a. advertising. b. PR. c. direct marketing. d. personal selling. e. a sales promotion.
c. direct marketing. -Units 4-6
In the idea screening stage, companies evaluate new offerings by determining Select one: a. if the product costs more during idea generation than expected. b. the product's features. c. if the product fits with the image and corporate strategy. d. the product's specifications. e. if the product works like it is supposed to.
c. if the product fits with the image and corporate strategy. -Unit 4
An active influencer is defined as someone who Select one: a. is willing to try new products and offer feedback. b. actually uses or consumes the offering regularly. c. is willing to tell others about a product in addition to the fact that others listen to him. d. sticks to one brand when it works. e. has a greater intrinsic interest in the product category than the average user.
c. is willing to tell others about a product in addition to the fact that others listen to him. -Unit 8
A(n) _____ involves promoting a product to final consumers. Select one: a. push strategy b. communication process c. pull strategy d. frequency e. IMC strategy
c. pull strategy -Unit 5
A company who promotes its products and services to the final consumer are utilizing a _____. Select one: a. premium strategy b. sales strategy c. pull strategy d. sample strategy e. push strategy
c. pull strategy -Unit 7
How might a marketer increase a consumer's personal value equation? a. decrease the benefits offered and associated with the exchange b. increase the price associated with the exchange c. reduce the hassle and increase the benefits associated with the exchange d. increase the hassle and the price associated with the exchange e. decrease the hassle and the benefits offered with the exchange
c. reduce the hassle and increase the benefits associated with the exchange -Unit 1
Mobile marketing Select one: a. utilizes exposure methods. b. utilizes high reach efforts. c. utilizes cell phones and forms of transportation. d. seeks high impact. e. utilizes mail and catalogs.
c. utilizes cell phones and forms of transportation. -Units 4-6
The feature specifications process begins with a strong understanding of Select one: a. what risks are involved. b. what opportunity costs are entailed. c. what consumers want and need. d. what the financial feasibility of the product is. e. what the marketing mix should entail at launch.
c. what consumers want and need. -Unit 4
_____ can have a positive PR impact by strengthening the affinity people have for a company that engages in it. Select one: a. Couponing b. Promotional marketing c. Product placement d. Cause-related marketing e. Sales promotions
d. Cause-related marketing -Unit 7
_____ occurs when a small change in demand by consumers has a big effect through the chain of businesses that supply all of the goods and services that produce it. Select one: a. Joint demand b. Assorted demand c. Shifting demand d. Fluctuating demand e. Flailing demand
d. Fluctuating demand Units 1-3
_____ are typically thought of as commodities, so price and availability are very important in relation to the competition. Select one: a. Original equipment manufacturing offerings b. Capital equipment offerings c. Facilitating offerings d. Raw materials offerings e. Maintenance, repair, operations offerings
d. Raw materials offerings -Unit 4
The personal value equation of the customer is reflected in the formula: Select one: a. Value = Benefits offered + [Price − Hassle] b. Value = [Price + Hassle] + Benefits received c. Value = Price − [Benefits offered + Hassle] d. Value = Benefits received − [Price + Hassle] e. Value = [Price − Hassle] + Benefits received
d. Value = Benefits received − [Price + Hassle] -Units 1-3
An example of a primary data resource is: Select one: a. syndicated research. b. internal records. c. marketing intelligence. d. an in-depth interview. e. J.D. Power & Associates.
d. an in-depth interview. -Units 1-3
A _____ strategy involves offering products that are unrelated to other existing products produced by the organization . Select one: a. market-penetration b. product-development c. market-development d. diversification e. downsizing
d. diversification -Units 1-3
A fashion design house purchased a music company. This is an example of a _____ strategy. Select one: a. market-penetration b. product-development c. market-development d. diversification e. downsizing
d. diversification -Units 1-3
The firm's _____ states the purpose of the organization and why it exists. Select one: a. value proposition b. business plan c. marketing plan d. mission statement e. financial report
d. mission statement -Unit 2
Forming close, personal relationships with customers and giving them exactly what they want is known as _____. Select one: a. mass marketing b. niche marketing c. differentiated marketing d. one-to-one marketing e. psychographic marketing
d. one-to-one marketing -Units 4-6
Forming close, personal relationships with customers and giving them exactly what they want is known as _____. Select one: a. mass marketing b. niche marketing c. differentiated marketing d. one-to-one marketing e. psychographic marketing
d. one-to-one marketing -Unit 5
If a firm can find a company that can add more value to a function than it can itself, it will often _____ the task to that company. Select one: a. offshore b. procure c. source d. outsource e. insource
d. outsource -Units 4-6
Marketers are concerned about _____ because they must ensure that you interpret the message as intended. Select one: a. perceptual retention b. feedback c. encoding d. perceptual distortion e. perceptual attention
d. perceptual distortion -Unit 5
A _____ is a two-dimensional graph that visually shows where a product stands relative to competitors. Select one: a. customer data analysis b. segmentation plot c. positioning strategy d. perceptual map e. marketing plan
d. perceptual map -Units 4-6
Firms offering more technical or expensive products often utilize _____. Select one: a. billboard campaigns b. mass marketing c. coupons d. personal selling e. sampling
d. personal selling -Units 4-6
This segmentation category answers the question, "How do my customers live their lives?" Select one: a. demographic b. behavioral c. geographic d. psychographic e. geodemographic
d. psychographic -Unit 5
Lucy lists the positive factors associated with her company, such as sales growth, world class distribution, and industry recognition for product quality. She is listing the company's _____. Select one: a. weaknesses b. opportunities c. allowances d. strengths e. threats
d. strengths -Units 1-3
a. enjoyment of a product and its disposal are important in understand consumer needs. b. marketers should consider what services it takes for the customer to acquire their offerings. c. sales personnel and marketing can drive consumerism. d. the best way to capture market share is to create and manufacture better products at lower prices. e. marketers should assess the value customers place on products in their daily lives.
d. the best way to capture market share is to create and manufacture better products at lower prices. -Unit 4
If a company has multiple planning levels, Select one: a. the plans must be consistent and all must help achieve individual goals. b. the plans must be approved by all departments within an organization. c. he plans must be adhered to regardless of external factors. d. the plans must be consistent and all must help achieve the overall goals of the corporation. e. the plans must be the same for each strategic business unit.
d. the plans must be consistent and all must help achieve the overall goals of the corporation. -Unit 2
Price is a signal of _____. Select one: a. revenue b. individuality c. growth d. value e. economic power
d. value -Unit 8
A business that purchases product in large quantities from producers and then sells it to another entity is known as a _____. Select one: a. broker b. retailer c. distributor d. wholesaler e. consumer
d. wholesaler -Units 4-6
_____ not only tests whether the offering works as advertised, but it also tests the offering's delivery mechanisms, service processes, and other aspects of marketing the product. Select one: a. Concept testing b. Product testing c. Alpha testing d. Primary testing e. Beta testing
e. Beta testing -Unit 4
_____ occurs when a firm's new offering eats into the sales of one of its older offerings. Select one: a. Brand extension b. Brand strategy c. Saturation d. Product failure e. Cannibalization
e. Cannibalization -Units 4-6
_____ refers to demand for a specific brand while ____ refers to demand for a product category. Select one: a. Competitive parity; AIDA model b. Open-ended messaging; selective demand c. Primary demand; selective demand d. AIDA model; open-ended messaging e. Selective demand; primary demand
e. Selective demand; primary demand -Unit 5
A buyer who needs a significant amount of trust with the seller is looking for a(n) _____. Select one: a. transactional relationship b. strategic partnership c. joint venture d. functional relationship e. affiliative selling relationship
e. affiliative selling relationship -Unit 7
The characteristics of a qualified prospect include someone who has the Select one: a. brains, autonomy, need for, and time to purchase a product. b. budget, autonomy, need for, and clout to purchase a product. c. brains, authority, need for, and time to purchase a product. d. budget, authority, need for, and clout to purchase a product. e. budget, authority, need for, and time to purchase a product.
e. budget, authority, need for, and time to purchase a product. -Unit 7
Warranties and guarantees can be utilized to Select one: a. increase customer perceptions. b. involve customer representatives. c. increase buyer's remorse. d. engage marketing efforts. e. decrease postpurchase dissonance.
e. decrease postpurchase dissonance. -Unit 8
Threats include Select one: a. internal positive conditions of the firm. b. external positive conditions of the macroenvironment. c. collaborative factors with competitors. d. internal negative conditions of the firm. e. external negative conditions of the macroenvironment.
e. external negative conditions of the macroenvironment. -Units 1-3
Neuroticism refers to Select one: a. how diligent you are. b. how outgoing or shy you are. c. how open you are to new experiences. d. how easy you are to get along with. e. how prone you are to negative mental states.
e. how prone you are to negative mental states. -Units 1-3
A group of related offerings is known as a _____. Select one: a. technology platform b. product mix c. service mix d. product category e. product line
e. product line -Unit 4
A group of related offerings is known as a _____. Select one: a. technology platform b. product mix c. service mix d. product category e. product line
e. product line -Units 4-6
Which element of the marketing mix would include advertising and sales? Select one: a. profit b. product c. price d. place e. promotion
e. promotion -Units 1-3
A value proposition Select one: a. states the firm's strategy for entering new markets with new product or service offerings. b. states the firm's marketing objectives. c. states the firm's pricing strategy. d. states the buyer's purchase incentives. e. states the specific benefits a product or service offering provides to a buyer.
e. states the specific benefits a product or service offering provides to a buyer. -Unit 2
