Mkt test 2

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A Japanese firm is ready to sell its recent technological innovation to the U.S. government. But it has asked for 80 percent in cash and the rest in mica. The Japanese firm is looking to enter into a(n) ________ with the U.S. government. A) functional discount B) compensation deal C) buyback arrangement D) offset agreement E) barter deal

A firm that is based in France designs jewelry and takes custom orders from around the world. They design up to 15 pieces of jewelry in a year and ensure that each design uses distinctive stones and is unique. Such nichemanship is an example of ________ specialist role. A) customer-size B) product C) product-feature D) job-shop E) quality-price

A firm that is willing to maintain its market share, and not attack the leader and other competitors in an aggressive bid for further market share, is known as a market ________. A) challenger B) leader C) follower D) nicher E) entrant

Bank customers try to reduce uncertainty by drawing inferences from the ________, such as the design of the building's exterior and interior, the layout of the desks, and the length of waiting lines. A) people B) symbols C) equipment D) place E) communication material

Customers today want separate prices for each service element, and they also want the right to select the elements they want. Customers are said to be pressing for ________ services. A) complementary B) perishable C) variable D) unbundled E) shared

Discount stores that try to keep prices as low as possible are more likely to function using ________ operations. A) limited service B) self-selection C) full-service D) self-service E) limited-selection

When consumers examine products, they often compare an observed price to an internal price they remember. This is known as a(n) ________ price. A) markup B) reference C) market-skimming D) accumulated E) target

Which of the following is TRUE regarding services? A) Services are typically produced, stored, and then consumed. B) Services are generally low in experience and credence qualities. C) Service providers develop similar marketing programs for personal services and business services. D) There is less risk associated with the purchase of services than with the purchase of goods. E) Provider-client interaction is a special feature of services marketing.

Which of the following is a defensive criterion for choosing brand elements? A) adaptable B) memorable C) meaningful D) likeable E) significance

Which of the following is a marketing advantage of strong brands? A) no vulnerability to marketing crises B) more elastic consumer response to price increases C) guaranteed profits D) additional brand extension opportunities E) more inelastic consumer response to price decreases

Which of the following is an example of an advertising platform? A) posters and leaflets B) company magazines C) fairs and trade shows D) sales presentations E) continuity programs

Which of the following is an example of direct marketing? A) E&OE sells its herbal skincare products exclusively through its stand-alone stores. B) TCJ is a telemarketing firm that sells products from a number of different suppliers. C) Jayne's sells most of its products to customers through home sales parties. D) J3 is a storeless retailer that organizes the retail activity of the employees of four firms. E) Reynold's tries to minimize its staff costs by installing vending machines in its stores.

Which of the following is an example of self-service technologies? A) calling for a pizza delivery B) buying a service contract for a computer C) printing tickets from a home computer D) visiting a parts-and-service department E) offering secondary service features

Which of the following is considered a wholesaler? A) retailer B) broker C) producer D) manufacturer E) farmer

Which of the following is the marketing communications objective for a new-to-the-world product, such as electric cars? A) enhancing brand awareness B) developing brand attitude C) increasing brand purchase intention D) encouraging repeat purchases E) establishing category need

Which of the following statements is TRUE of the role of advertising in business markets? A) Advertising is unsuitable for explaining a product's features. B) Business marketers tend to spend comparatively more on advertising. C) Business buyers consider advertising inappropriate for reaching them. D) Advertisements can legitimize the company and introduce its products. E) Salespeople generate leads through personal selling and use advertising for follow-up.

Why would a retailer measure direct product profitability (DPP)? A) because DPP is highly correlated with the gross margin on a product B) because handling expenses are negligible compared with gross margin C) because handling costs can make products less profitable D) because gross margin on a product is too difficult to measure accurately E) because DPP removes the impact of paperwork expenses

________ auctions let would-be suppliers submit only one bid; they cannot know the other bids. A) Descending bid B) Sealed-bid C) English D) Dutch E) Reverse

Epic Inc., a firm that produces chairs for offices, uses comparative advertising to inform consumers that its products offer the same features and quality as the competitor's. This is an example of a(n) ________ attack. A) guerilla B) frontal C) encirclement D) bypass E) flank

In which of the following auctions does the auctioneer first announce a high price for a product and then slowly decreases the price until a bidder accepts? A) a Dutch auction with one buyer and many sellers B) an English auction with one seller and many buyers C) an ascending bid auction D) a sealed-bid auction E) a Dutch auction with one seller and many buyers

True

True or false? A "do-feel-learn" response sequence is considered appropriate when the audience has high involvement but perceives little or no differentiation within the product category.

True

True or false? After a company has chosen a channel system, it must select, train, motivate, and evaluate individual intermediaries for each channel.

False

True or false? Aida decided to switch doctors after she had to wait two and a half hours at her scheduled appointment to see her doctor. She experienced the ethical problem factor that leads to customer switching behavior.

True

True or false? All functions in a marketing channel use up scarce resources and can be shifted among channel members.

False

True or false? All services require the client to be present.

False

True or false? An important part of reinforcing brands is providing uniform and unchanging marketing support.

False

True or false? An innovation's rate of adoption depends in part on compatibility, or the degree to which the benefits of use are observable or describable to others.

True

True or false? An intensive distribution strategy serves well for products such as snack foods and soft drinks.

True

True or false? Companies are trying to give their customers more control over their shopping experiences by bringing Web technologies into the store via mobile apps.

True

True or false? Companies should first think of the target market and then design the supply chain backward from that point. This strategy is called demand chain planning.

True

True or false? Companies sometimes initiate price cuts in an attempt to dominate the market through lower costs.

True

True or false? Companies that fail to develop new products leave their existing offerings vulnerable to increased domestic and foreign competition.

True

True or false? Companies who want to carry near-zero inventory should build for order, not for stock.

True

True or false? Concentrated advertising is well suited for products with one selling season or related holiday.

False

True or false? Customer equity is synonymous with brand equity.

True

True or false? Growing the core can be a less risky alternative for growth than expansion into new product categories.

True

True or false? Out-of-pocket costs are what the customer spends on regular maintenance and repair costs.

True

True or false? Perceptual maps provide quantitative portrayals of market situations and the way consumers view different products, services, and brands along various dimensions.

False

True or false? Personal selling refers to person-to-person oral, written, or electronic communications that relate to the merits or experiences of purchasing or using products or services.

True

True or false? Reach of an advertising message is most important when launching new products, flanker brands, extensions of well-known brands, or infrequently purchased brands.

False

True or false? Retailer cooperatives allow nonmember retailers to buy through them and share the profits.

False

True or false? Retailers are increasingly likely to reach their customers by using a single channel.

True

True or false? To the manufacturer, a well-designed product is easy to make and distribute; to the customer, it is pleasing to look at and easy to use.

False

True or false? Today, consumers are price takers and accept prices at face value or as given.

True

True or false? Total costs consist of the sum of the fixed and the variable costs for any given level of production.

True

True or false? Value pricing requires a company to reengineer its operations to become a low-cost producer.

False

True or false? Value-augmenting services include installation, staff training, maintenance and repair services, and financing.

True

True or false? Warranties are formal statements of expected product performance by the manufacturer.

True

True or false? What the customer expects from a service is called the primary service package.

False

True or false? When Honda expanded its brand into such areas as automobiles, snow blowers, and marine engines, it was pursuing a strategy called line extension.

True

True or false? When examining products, consumers compare an observed price to an internal reference price they remember or an external frame of reference.

False

True or false? Wholesalers exclude manufacturers and farmers because they are engaged primarily in production, but include retailers, as they are selling to the end consumer.

True

True or false? Wholesaling includes all the activities in selling goods or services to those who buy for resale or business use.

Tums claims to have the most acid-reducing components of any antacid. In what way is the brand's category membership being conveyed? A) comparing to exemplars B) relying on the product descriptor C) announcing category benefits D) focusing on reliability E) persuasion based on believability

A manufacturer uses the company's sales force and trade promotions to carry, promote, and sell products to end users. Which of the following strategies is this manufacturer using? A) personalization strategy B) tailoring strategy C) push strategy D) pull strategy E) consumer promotion strategy

A manufacturer wants to achieve rapid market penetration through a low-price policy. However, the manufacturer's dealers prefer to work with high margins and pursue short-run profitability. The major reason for this conflict is ________. A) goal incompatibility B) unclear roles C) ambiguous rights D) differences in perception E) dependence on the manufacturer

Which of the following marketing communications tools is most influential at the reordering stage of buyer readiness? A) events and experiences B) publicity C) direct marketing D) sales promotion E) interactive marketing

________ are a means of understanding where, how much, and in what ways brand value is being created to facilitate day-to-day decision making. A) Internal marketing campaigns B) Brand portfolio audits C) Brand value chains D) Sales cycles E) Brand-tracking studies

________ are attributes or benefits that consumers view as essential to a legitimate and credible offering within a certain product or service class. A) Category points-of-difference B) Conceptual points-of-parity C) Competitive points-of-parity D) Category points-of-parity E) Competitive points-of-difference

________ are formal statements of expected product performance by the manufacturer. A) Insurances B) Warranties C) Bonds D) Invoices E) Balance sheets

________ are offered by a manufacturer to trade-channel members if they will perform certain functions, such as selling, storing, and record keeping. A) Consumer promotions B) Quantity discounts C) Functional discounts D) Seasonal discounts E) Trade-in allowances

________ are sets of interdependent organizations participating in the process of making a product or service available for use or consumption. A) Marketing channels B) Interstitials C) Communication channels D) Sales territories E) Marketing terrains

Which of the following methodologies takes the list of desired customer attributes (CAs) generated by market research and turns them into a list of engineering attributes (EAs) that engineers can use? A) quality control processes B) quality function deployment C) rapid prototyping D) marketing control E) control system formation

Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product? A) quality function deployment B) market leadership C) cost leadership D) incremental innovation E) disruptive technology

Creative strategies refer to the ________. A) way marketers translate their messages into a specific communication B) amount of creative content in a communications message C) degree of innovation involved in the marketing of a product D) novelty of a marketing communication E) type of medium used to deliver a marketing communication

________ are unbranded, plainly packaged, less expensive versions of common products such as spaghetti, paper towels, and canned peaches. A) Common carriers B) Shills C) Generics D) Private labels E) Marques

________ branding is a special case of co-branding involving creating brand equity for materials, components, or parts that are necessarily contained within other branded products. A) Cross B) Ingredient C) Equity D) Family E) Generic

________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning. A) Flanker B) Attacker C) Defender D) Cash cow E) Simulation

________ consists of putting goods in boxes or trailers that are easy to transfer between two transportation modes. A) Containerization B) Haulage C) Inventory carrying D) Order processing E) Warehousing

Personal influence in marketing communications carries great weight when the product being marketed ________. A) is a convenience item B) is considered to be safe and risk-free C) suggests something about the user's status or taste D) is purchased on a frequent basis E) is used without being recommended by others

TV advertising is considered to be particularly advantageous because ________. A) messages have extended exposure B) it has a low absolute cost C) it is appealing to the senses and generates high attention D) it reaches highly selective audiences E) it offers low clutter

________ defense involves occupying the most desirable market space in the minds of the consumers and making the brand almost impregnable. A) Position B) Flank C) Preemptive D) Mobile E) Contraction

The failure of Cracker Jack cereal is an example of consumers' ________ dictating that the extensions were inappropriate for the brand. A) brand knowledge B) brand equity C) brand stature D) power grid E) brand salience

Which of the following parameters forms the basis for measuring sponsorship effectiveness using demand-side methods? A) impact on market share of sponsor B) amount of time a brand is clearly visible on a television screen C) amount of relevant newsprint mentioning the sponsor D) influence on consumers' brand knowledge of the sponsor E) net impact on the sponsor's bottom line

True

True or false? Although consumers may have fairly good knowledge of the range of prices involved, very few can accurately recall specific prices of products.

True

True or false? Although supply-side exposure methods provide quantifiable measures of sponsorship activities, equating media coverage with advertising exposure ignores the content of the respective communications.

False

True or false? American Girl dolls tap into mother-daughter relationship and the cross-generational transfer of femininity. This is an example of a narrative arc.

True

True or false? An advertising objective is a specific communications task and achievement level to be accomplished with a specific audience in a specific period of time.

True

True or false? An example of communicating category membership by relying on the product descriptor is Ford's positioning of its Freestyle automobile, which combines the attributes of an SUV, a minivan, and a station wagon, as a "sports wagon."

True

True or false? An ideal event is unique but not encumbered with many sponsors, lends itself to ancillary marketing activities, and reflects or enhances the sponsor's brand or corporate image.

False

True or false? Associations that make up points-of-difference are based exclusively on product features.

True

True or false? Attacking the market leader proves successful and beneficial only when the leader is not serving the market well.

False

True or false? Beta testing tests the product within the firm to see how it performs in different applications.

True

True or false? Brand equity can be built by linking the brand to sources, such as channels of distribution, as well as to other brands.

True

True or false? Brand extensions can reduce the costs of introductory launch campaigns and make it easier to convince retailers to stock and promote a new product.

False

True or false? Brands in highly-differentiated product classes require heavy advertising to establish a unique image.

False

True or false? Brick-and-click companies are those that have launched a Web site without any previous existence as a firm.

True

True or false? Capital items are long-lasting goods that facilitate developing or managing the finished products.

False

True or false? Carlos always buys bread and milk when he goes grocery shopping. In this case, bread and milk are examples of impulse goods.

True

True or false? Category membership is seen as the products that function as close substitutes of a brand.

True

True or false? Channel power is the ability to alter channel members' behavior so that they take actions they would not have taken otherwise.

True

True or false? Co-branding involves combining two or more well-known existing brands are combined into a joint product and/or marketing them together in some fashion.

True

True or false? Cocreation can help a company create favorable word of mouth.

False

True or false? Concept testing means validating the product concept by discussing within the design group.

True

True or false? Consumers may evaluate identical products differently depending on how they are branded.

False

True or false? Consumers usually like price increases because these changes signal that an item is "hot" and represents a good value.

True

True or false? Customer lifetime value is affected by revenue and by the costs of customer acquisition, retention, and cross-selling.

True

True or false? Customer training and customer consulting are two areas for service differentiation that manufacturers can use with their products.

True

True or false? Customers cause many service failures, and many firms find managing these more difficult than managing their own failures.

True

True or false? Customers usually have a lower price threshold below which prices signal inferior or unacceptable quality, as well as an upper price threshold above which prices are prohibitive and the product appears not worth the money.

False

True or false? Department stores only face competition from other department stores as other retailing forms pose little threat to their sales and profitability.

True

True or false? Driving sales and revenue growth can be more challenging in mature markets.

True

True or false? Electronic shopping is a form of direct marketing.

False

True or false? Examples of manufacturer promotions include price cuts and feature advertising.

False

True or false? Exclusive dealings and tying agreements are illegal and prohibited by law.

True

True or false? Featuring exclusive national brands that are not available at competing retailers is a way of differentiating a retailer.

True

True or false? Firms are increasingly recognizing the importance of influencing consumers at the point of purchase.

False

True or false? Firms should design the highest performance level possible for their products.

False

True or false? Full-service retailers generally have the lowest costs of all retail types.

False

True or false? Growth in the retail market is centered firmly in the middle market, leaving luxury retailers and discounting specialists struggling.

False

True or false? Growth strategies are "either/or" propositions; a focus on core businesses means foregoing new market opportunities.

False

True or false? Guarantees are most effective when the product is well known and/or similar in performance to other brands in the market.

False

True or false? If a small Iowa college builds awareness among applicants from Nebraska, increases the target audience's knowledge about its offerings, communicates in a way that makes the target audience like it and prefer it to other colleges, builds intent to apply, and gets the target audience to attend, it is applying a do-feel-learn sequence.

False

True or false? If expected service falls below perceived service, customers are disappointed.

False

True or false? If firms wish to maximize their market share, they should opt for market-skimming pricing.

True

True or false? If the Coolest Cooler introduced its cooler to the general market and developed communications around the idea that it was going to develop awareness, interest, evaluation, trial, and then adoption, it would be anticipating a learn-feel-do sequence of consumer responses.

False

True or false? If the length of a product's downtime increases, the cost incurred decreases.

False

True or false? If the product class is mature, then the advertising objective is to convince the market of the brand's superiority.

False

True or false? In Interbrand's brand valuation model, Brand Value is the likelihood the brand will realize forecasted Brand Earnings.

False

True or false? In a compensation deal, the seller sells a plant, equipment, or technology to another country and agrees to accept as partial payment products manufactured with the supplied equipment.

False

True or false? In first-degree price discrimination, the seller charges less to buyers who purchase in larger volumes.

True

True or false? In general, personal selling is one of the most helpful tools for closing sales.

False

True or false? In high-low pricing, retailers charge low prices on an everyday basis with occasional price increases.

True

True or false? In the case of prestige goods, the demand curve sometimes slopes upward.

True

True or false? In the growth stage of a product's life cycle, demand has its own momentum through word of mouth and interactive marketing.

False

True or false? In the new communication environment, advertising is often the single most important element of a marketing communications program for sales and building brand and customer equity.

True

True or false? Ingredient branding can take on a form called "self-branding" in which the company advertises its own branded ingredients.

True

True or false? Interactive marketing describes the employees' skill in serving the client.

True

True or false? Inventory cost increases at an accelerating rate as the customer-service level approaches 100 percent.

True

True or false? Loss leader pricing dilutes a company's brand image.

False

True or false? Lot size refers to the total number of units a channel can transmit from the manufacturer's place to the service outlet.

False

True or false? MPR can build credibility by placing stories in the media to bring attention to a product, service, person, organization, or idea.

False

True or false? MPR is effective in blanketing local communities and reaching specific groups and hence has to be planned separately from the less cost-effective advertising.

False

True or false? Manufacturers can obtain greater control over the selling process by using a sales agency.

False

True or false? Manufacturers of systems such as razors and ink jet printers use a system of pricing called "two-part pricing": one price for the disposable products and another for the "hardware."

True

True or false? Manufacturers that add online channels may avoid alienating retailers or other intermediaries by offering different brands or products through online channels than in stores.

True

True or false? Marketers have traditionally classified products on the basis of characteristics such as durability, tangibility, and use.

False

True or false? Marketing channel functions such as storage and movement and communications constitute a backward flow of activities.

True

True or false? Marketing channels are the set of pathways a product or service follows after production, culminating in purchase and consumption by the final end user.

True

True or false? Marketing communications allow companies to link their brands to other people, places, events, brands, experiences, feelings, and things.

True

True or false? Marketing communications in almost every medium and form have been on the rise, and some consumers feel they are increasingly invasive.

True

True or false? Media coordination can occur across and within media types, but marketers should combine personal and nonpersonal communications channels through multiple-vehicle, multiple-stage campaigns to achieve maximum impact and increase message reach and impact.

False

True or false? More stocking locations mean goods can be delivered to customers more quickly, and warehousing and inventory costs are lower.

True

True or false? Multichannel conflicts are common when the members of one channel obtain a lower price based on larger-volume purchases.

True

True or false? Narrative branding is based on deep metaphors that connect to people's memories, associations, and stories.

True

True or false? One of the advantages of having a strong brand is the ability to have a more elastic consumer response to price decreases of the brand.

True

True or false? One of the selection criteria for creating a successful brand element is that it should be protectable.

False

True or false? One-sided presentations that praise a product are found to be more effective than two-sided arguments that also mention shortcomings.

False

True or false? Persuasive advertising aims to create brand awareness and knowledge of new products or new features of existing products.

True

True or false? Points-of-parity may be shared among two or more brands.

True

True or false? Positioning is the act of designing the company's offering and image to occupy a distinctive place in the minds of the target market.

False

True or false? Positioning requires that marketers define and communicate only the differences between their brand and its competitors.

False

True or false? Preparing separate, unrelated online and offline communications improves consistency by sending distinct messages.

True

True or false? Price elasticity depends upon the magnitude and direction of the contemplated price change.

False

True or false? Price is one of the two elements of the marketing mix that produces revenue.

False

True or false? Pricing has no negative effect on customer loyalty.

False

True or false? Private-label or store brands are also known as generics.

False

True or false? Problem removal and normal depletion are examples of positively oriented relevant brand needs.

True

True or false? Psychological discounting involves setting an artificially high price and then offering the product at substantial savings.

True

True or false? Sales promotions in markets of high brand similarity can produce a high sales response in the short run but little permanent gain in brand preference over the longer term.

True

True or false? Service companies try to demonstrate their service qualities through physical evidence and presentation.

True

True or false? Shopper marketing is the way manufacturers and retailers use stocking, displays, and promotions to affect customers while they are in a store.

True

True or false? Small businesses should focus on building one or two strong brands based on one or two key associations.

False

True or false? Some firms might delay a new product launch until after the competitor has borne the cost of educating the market and its product may reveal flaws the late entrant can avoid. This can be classified as a parallel entry.

True

True or false? Some high-volume products may have such high handling costs that they are less profitable and deserve less shelf space than low-volume products.

True

True or false? Supply chain management starts before physical distribution.

True

True or false? The aim of place advertising is to reach people where they work, play, and shop.

True

True or false? The answer to the question "was the surgery successful?" represents the technical quality aspect of interactive marketing, one of the three broad areas of service excellence.

True

True or false? The competitive frame of reference defines which other brands that a brand competes with.

True

True or false? The experience qualities of a good or service can be evaluated after purchase.

True

True or false? The flow of materials to refurbish products for resale constitutes a reverse flow.

False

True or false? The higher the forgetting rate associated with a brand, product category, or message, the lower the warranted level of repetition.

True

True or false? The historical approach correlates past sales to past advertising expenditures using advanced statistical techniques.

False

True or false? The indirect approach to assessing brand equity assesses the actual impact of brand knowledge on consumer response to different aspects of marketing.

False

True or false? The industry concept of competition reveals a broader set of actual and potential competitors than competition defined in just the market concept.

True

True or false? The lower price of generics is made possible by lower-cost labeling and packaging and minimal advertising, and sometimes lower-quality ingredients.

False

True or false? The macroscheduling decision calls for allocating advertising expenditures within a short period to obtain maximum impact.

True

True or false? The most constructive response to protecting market share is continuous innovation.

True

True or false? The network marketing sales system works by recruiting independent businesspeople who act as distributors.

False

True or false? The nicher achieves high sales volume, whereas the mass marketer achieves high margin.

False

True or false? The percentage-of-sales method leads to a budget set by market opportunities rather than by the availability of funds.

True

True or false? The private non-profit sector is a provider of services.

True

True or false? The product hierarchy stretches from basic needs to particular items that satisfy those needs.

False

True or false? The product-line length can be obtained by averaging the number of variants within the brand groups.

False

True or false? The public relations function of lobbying involves advising management about public issues as well as company positions and image during good times and bad.

False

True or false? The quality of services is independent of who provides them.

False

True or false? The rapid diffusion of multipurpose smart phones, broadband and wireless Internet connections, and ad-skipping digital video recorders (DVRs) have augmented the effectiveness of the mass media.

False

True or false? The redemption rate for paper coupons (10 percent) far exceeds that of mobile coupons (1 percent).

False

True or false? The result of positioning is the successful creation of an employee-focused value proposition.

False

True or false? The role of a relatively high-priced brand in a portfolio is often to attract customers to the brand franchise or to "build traffic."

True

True or false? The supply-side measurement method focuses on potential exposure to a brand by assessing the extent of media coverage of an event, and the demand-side method focuses on exposure reported by consumers.

False

True or false? The supply-side method identifies the effect sponsorship has on consumers' brand knowledge.

False

True or false? The two-step flow supports the notion that consumption styles are primarily influenced by a "trickle-down" or "trickle-up" effect from mass media.

True

True or false? The typical approach to positioning is to inform consumers of a brand's membership before stating its point-of-difference.

False

True or false? The zone of tolerance for a service is the perceived economic benefit in relationship to the economic cost.

True

True or false? To achieve integrated marketing, marketers need a variety of different marketing activities that consistently reinforce the brand promise.

True

True or false? To analyze its competitors, a company needs to gather information about both the real and the perceived strengths and weaknesses of each competitor.

Which of the following is the strongest differentiator for brick-and-mortar stores who want to emphasize their superiority over online retailers? A) product quality B) the shopping experience C) product range D) pricing E) the retailer's reputation

Which of the following marketing communications tools has the highest cost-effectiveness in the introduction stage of the product life cycle? A) personal selling B) sales promotion C) interactive marketing D) direct marketing E) events and experiences

Which of the following marketing communications tools is most effective at influencing customers at the conviction stage of buyer readiness? A) advertising B) publicity C) sales promotion D) personal selling E) events and experiences

Which of the following marketing communications tools is most influential at the maturity stage of a product's life cycle? A) sales promotions B) direct marketing C) advertising D) publicity E) interactive marketing

________ exhibit replacement cycles dictated by physical wear or obsolescence associated with changing style, features, and performance. A) Frequently purchased products B) High-moving goods C) Inexpensive products D) Commodity products E) Infrequently purchased products

________ includes all the activities in selling goods or services directly to final consumers for personal, nonbusiness use. A) Wholesaling B) Retailing C) Procurement D) Promoting E) Warehousing

________ includes all the activities in selling goods or services to those who buy for resale or business use. A) Retailing B) Wholesaling C) Procurement D) Promoting E) Warehousing

________ includes planning the infrastructure to meet demand, then implementing and controlling the physical flows of materials and final goods from points of origin to points of use to meet customer requirements at a profit. A) Market logistics B) Containerization C) Transportation D) Nonstore retailing E) Wholesaling

________ is a company's ability to perform in one or more ways that competitors cannot or will not match. A) Brand positioning B) Market research C) Competitive advantage D) Competitor analysis E) Competitive intelligence

________ is a marketing communications tool that includes a variety of programs to promote or protect a company's image or individual products. A) Public relations B) Advertising C) Sales promotion D) Personal selling E) Direct marketing

________ is finding the most cost-effective media to deliver the desired number and type of exposures to the target audience. A) Media scheduling B) Content analysis C) Media selection D) Communication design E) Copy testing

________ marketing describes the employees' skill in serving the client. A) External B) Internal C) Promotional D) Direct E) Interactive

________ marketing refers to the normal work of preparing, pricing, distributing, and promoting the service to customers. A) Interactive B) Internal C) External D) Promotional E) Direct

________ pricing takes into account a host of inputs, such as the buyer's image of the product performance, the channel deliverables, the warranty quality, customer support, and attributes such as the supplier's reputation, trustworthiness, and esteem. A) Perceived-value B) Value C) Going-rate D) Auction-type E) Markup

________ refer to the marketing communications element that involves company-sponsored activities and programs designed to create daily or special brand-related interactions with consumers. A) Publicity campaigns B) Trade promotions C) Advertisements D) Public relations E) Events and experiences

________ refers to a planning process designed to assure that all brand contacts received by a customer or prospect for a product, service, or organization are relevant to that person and consistent over time. A) Brand engagement B) Integrated marketing communications C) Market research D) Customerization E) Marketing research

________ refers to buying large carload lots and dividing them into smaller units before shipping them out to consumers. A) Bulk breaking B) Containerization C) Wholesaling D) Warehousing E) Broking

________ refers to the means by which firms attempt to inform, persuade, and remind consumers-directly or indirectly-about the products and brands they sell. A) Human resource development B) Marketing communications C) Financial management D) Operations management E) Planning

________ refers to the products or sets of products with which a brand competes and which function as close substitutes. A) Consumer profitability analysis B) Competitive frame of reference C) Category membership D) Value membership E) Demand field

________ refers to the task of securing editorial space-as opposed to paid space-in print and broadcast media to promote or "hype" a product, service, idea, place, person, or organization. A) Advertising B) Media planning C) Communication design D) Publicity E) Copy testing

________ reward dealers for participating in advertising and sales support programs. A) Functional discounts B) Trade discounts C) Promotional allowances D) Rebates E) Quantity discounts

________ seeks to determine whether an ad is communicating effectively. A) Copy testing B) Flighting C) Pulsing D) Frequency capping E) Square inch analysis

________ testing is a customer test that involves placing the product within the firm to see how it performs in different applications. A) Beta B) Research C) Sales-wave D) Alpha E) Simulated

________ time is the time necessary to prepare a promotional program prior to launching it. A) Sell-in B) Link C) Setup D) Lead E) Hold

Using the market approach, ________ are defined as companies that satisfy the same customer need. A) communities B) competitors C) trendsetters D) industries E) task groups

Using the push strategy is most appropriate when ________. A) consumers are able to perceive differences between brands B) the product being sold is an impulse item C) there is high brand loyalty for the product D) the product is a high involvement purchase E) consumers choose the brand before they go to the store

Walmart developed the Ol'Roy brand of dog food to sell only in its stores. Ol'Roy is an example of a ________. A) generic product B) national brand C) franchise D) copy-cat brand E) private label

A group of products within a product class that are closely related because they perform a similar function, are sold to the same customer groups, are marketed through the same outlets or channels, or fall within given price ranges is known as a ________. A) product type B) product class C) need family D) product variant E) product line

A new firm typically starts as a local operation selling in a fairly circumscribed market by ________. A) finding and developing new intermediaries B) using a few existing intermediaries C) forming partnerships with the market leader D) creating a special channel E) forming partnerships with other firms

A producer must modify its channel design and arrangements if ________. A) consumer buying patterns change B) the competition in the market stabilizes C) the product is in the growth stage of its life cycle D) the market size remains unchanged for a particular period E) the firm's profits stabilize

A product's purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value gives the ________ cost. A) service warranty B) out-of-pocket C) life-cycle D) facilitating services E) value-augmentation

After creating a product prototype, a company tests it within the firm to see how it performs in different applications. The company refines the prototype to correct the mistakes found in in-house testing. What should be the next step? A) commercializing the product B) performing concept testing C) conducting beta testing with customers D) creating a marketing strategy for the product E) performing business analysis

After determining its pricing objectives, what is the next logical step a firm should take in setting its pricing policy? A) It should analyze its competitors' costs, prices, and offers. B) It should select its pricing method. C) It should select its final price. D) It should determine the demand for its product. E) It should estimate the cost of its product.

Apple's iPod Shuffle is an example of ________. A) a sub-brand B) a parent brand C) family brand D) a brand mix E) an umbrella brand

E&OE produces and markets its own brand of skincare products using herbal remedies and natural ingredients through stand-alone stores as well as an online portal. E&OE is a(n) ________ retailer. A) off-price B) specialty C) discount D) department E) extreme value

In response to the need to reinforce the brand promise, ________ is about mixing and matching marketing activities to maximize their individual and collective effects. A) personalized marketing B) mass customization C) globalized marketing D) relationship marketing E) integrated marketing

Identify the channel function that constitutes both backward and forward flow. A) obtaining financing B) storage of physical goods C) persuasive communication D) movement of physical goods E) overseeing actual transfer of ownership

If demand hardly changes with a small change in price, the demand is said to be ________. A) strained B) marginal C) inelastic D) flexible E) unit elastic

If the shipper owns its own truck or air fleet, it becomes a ________ carrier. A) containerized B) private C) contract D) common E) diversified

In his article, "Innovative Imitation," Theodore Levitt argues that ________. A) imitation is wrong and should be punished B) product imitation might be as profitable as product innovation C) innovation is not possible without substantial imitation D) innovation cannot begin unless dissatisfaction with imitation occurs E) imitation should be against the law because of the intellectual property decision involved

In its focus on bottom-line financial value, the ________ approach offers limited guidance for go-to-market strategies and does not fully account for competitive moves. A) brand equity B) brand value chain C) customer tracking D) customer equity E) brand extension

In many cases, retailers hold greater ________ than manufacturers, so manufacturers need to know retail buyers' acceptance criteria. A) channel power B) conditions of sale C) territorial rights D) motivation E) channel design

Moonburst is a newly launched brand of energy drinks, one among many other recently introduced competing brands. The advertising agency handling Moonburst's account decides that to better promote Moonburst, it has to zero in on an advertising medium that would offer flexibility to alter its advertising message and the ability to fit in with the modest advertising budget. Also, the medium has to provide a high repeat exposure of the advertising message to the target audience. The advertising agency would be happy to trade off audience selectivity and creative possibilities if the medium satisfies the above criteria. Which of the following would be the best option for Moonburst? A) outdoor media B) radio C) magazines D) television E) Yellow Pages

Most new-product activities are devoted to ________. A) changing the target markets B) developing new-to-the-world products C) introducing backward integration D) improving existing products E) changing the existing market dynamics

Most retailers will put low prices on some items in order to increase traffic to the store. These low-priced products are known as ________. A) loss leaders B) price ceilings C) price skimmers D) price floors E) cold calls

Mountain Dew is a brand known for sponsorships of adventure events such as snowboarding and skateboarding competitions. What is the most likely objective of Mountain Dew's sponsorship of these events? A) to enhance corporate image B) to express commitment to the community or on social issues C) to entertain key clients or reward key employees D) to create perceptions of key brand image associations E) to become part of a personally relevant moment in consumers' lives

Often, a service problem arises from a customer's lack of understanding or ineptitude. Which of the following can help to minimize customer failures? A) giving customers exclusive primary service packages B) redesigning processes to simplify service encounters C) using differential pricing and shared services D) minimizing service intangibility E) working with more customers at the same time

Not all self-service technologies improve service quality, but they can make service transactions more accurate, convenient, and ________. A) faster B) "high touch" C) interactive D) technical E) internal

One of the possible objectives of marketing communications is helping consumers evaluate a brand's perceived ability to meet a currently relevant need. Which of the following is a negatively oriented relevant brand need? A) normal depletion B) sensory gratification C) social approval D) intellectual stimulation E) value enhancement

One way marketers are addressing consumers' desire for convenience in services is by providing ________. A) self-service technologies B) product support services C) perceived service and expected service D) core service failure E) involuntary switching

Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit ________. A) are collinear B) are diagonal to each other C) intersect D) are parallel to each other E) equal zero

False

Physical goods, services, and stores can be branded, but ideas and people cannot.

Place advertising, or out-of-home advertising, is a broad category that includes many creative and unexpected forms to grab consumers' attention, including all of the following EXCEPT ________. A) billboards B) yellow pages C) public spaces D) product placement E) point of purchase

Premiums, as a consumer promotion tool, are defined as ________. A) offers to consumers of savings off the regular price of a product, flagged on the label or package B) certificates entitling the bearer to a stated saving on the purchase of a specific product C) programs providing rewards related to the consumer's frequency and intensity in purchasing the company's products or services D) merchandise offered at a relatively low cost or free as an incentive to purchase a particular product E) values in cash or in other forms that are proportional to patronage of a certain vendor or group of vendors

Purchasers of theatre tickets receive a 20 percent discount if they purchase and pay for the full season at one time. This is an example of what type of product-mix pricing? A) mixed bundling B) pure bundling C) product line pricing D) captive-product pricing E) two-part pricing

Qualities such as candor, humor, and naturalness make a spokesperson ________, which is an important component of spokesperson credibility. A) likable B) an expert C) trustworthy D) transformational E) informational

ROC Engineering, a Chinese shipbuilding company, agrees to build a fleet of submarines for the Sri Lankan navy, for which it will be paid in the local Sri Lankan currency. As per the agreement, ROC must also spend a substantial amount of the money it generates through this deal within the country. In accordance with the contract, ROC buys Sri Lankan tea at a reduced rate. This is an example of which of the following forms of countertrade? A) descending bid B) offset C) barter D) compensation deal E) buyback arrangement

Randall Ringer and Michael Thibodeau see ________ as based on deep metaphors that connect to people's memories, associations, and stories. A) cultural branding B) narrative branding C) brand journalism D) emotional branding E) personal branding

Receivers of a message generally see a source as credible if they perceive the source to have expertise, trustworthiness, and ________. A) congruity B) "borrowed interest" devices C) likability D) appeals E) experience

Share of ________ represents the proportion of company advertising of a product to all advertising of that product. A) wallet B) mind C) voice D) market E) cost

Some firms might delay the launch of their products until after the competitor has borne the cost of educating the market. Such an entry is called ________ entry. A) strategic pay off B) parallel C) balancing D) late E) compensating

Spike Inc. is a sportswear manufacturer that recently launched its new line of customizable running shoes. The shoes come with a digital component that allows them to adapt to the runner's biomechanics. To promote this new product, Spike launches an advertising campaign and entices a famous athlete to endorse the product. This is an example of a ________. A) trade promotion B) reverse flow C) push strategy D) pull strategy E) backward flow

Susanna wanted to check out a new salon in her locality, so she decided to go for a hair styling session. She was very happy with the way her stylist connected and related with her concerns. She is judging the service based on its ________. A) promotional marketing B) functional quality C) technical quality D) search qualities E) external marketing

The "Got Milk" campaign was intended to boost sagging milk consumption among Californians in the 1990s. The campaign ads highlighted the inconvenience of running out of milk when intended to be used with certain foods, such as cookies or muffins, advising consumers to stock up on milk to avoid such inconveniences. The "Got Milk?" campaign is an example of ________ advertising. A) informational B) reminder C) institutional D) comparative E) reinforcement

The American Marketing Association defines a ________ as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors." A) copyright B) trademark C) slogan D) brand E) logo

The Caesar Park Hotel generally caters to business customers during the week, so weekends are relatively quiet. The hotel has decided to promote mini-vacation weekends for non-business customers as well. What is the Caesar Park Hotel trying to do? A) It is implementing premium pricing. B) It is trying to cultivate nonpeak demand. C) It is promoting complementary services. D) It is putting reservation systems in place. E) It is implementing differential pricing.

The ________ defines which other brands a brand competes with and therefore which brands should be the focus of competitive analysis. A) consumer profitability analysis B) competitor indexing C) service blueprint D) competitive frame of reference E) cluster analysis

The airline and hospitality industries use ________, by which they offer discounted but limited early purchases, higher-priced late purchases, and the lowest rates on unsold inventory just before it expires. A) special-customer pricing B) yield pricing C) cash rebates D) location pricing E) customer-segment pricing

The decline in the average cost of production with accumulated production experience is called the ________. A) demand curve B) supply chain C) learning curve D) value chain E) indifference curve

The first step in the strategic brand management process is ________. A) measuring consumer brand loyalty B) identifying and establishing brand positioning C) planning and implementing brand marketing D) measuring and interpreting brand performance E) growing and sustaining brand value

The five product levels add more customer value, and together they constitute a(n) ________. A) core benefit B) basic product C) augmented product D) customer-value hierarchy E) expected product

The goal of positioning is to ________. A) locate the brand in the minds of consumers to maximize the potential benefit to the firm B) discover the different needs and groups existing in the marketplace C) target those customers marketers can satisfy in a superior way D) collect information about competitors that will directly influence the firms' strategy E) help the firm anticipate what the actions of its competitors will be

The introduction of Diet Coke by the Coca-Cola Company is an example of ________. A) line extension B) brand harmonization C) category extension D) brand dilution E) co-branding

The main advantage of co-branding is that a product may be convincingly positioned by virtue of the ________ involved. A) branding synergy B) increased advertising dollars C) multiple brands D) bundled package E) pure bundling

The most effective communications mix tool at later stages of the buying process is ________ because it is particularly effective at building buyer preference, conviction, and action. A) sales promotions B) personal selling C) advertising D) direct and interactive marketing E) events

The result of positioning is the successful creation of ________, which provides a cogent reason why the target market should buy the product. A) an award-winning promotional campaign B) a customer-focused value proposition C) a demand channel D) everyday low pricing E) employee value proposition

The zone of ________ is a range where a service dimension is deemed satisfactory, anchored by the minimum level consumers are willing to accept and the level they believe can and should be delivered. A) immunity B) tolerance C) reliability D) assurance E) flexibility

False

True of false? Marketers should assume that buyers will pass through the classic hierarchy of affective, cognitive, and behavioral stages, in that order.

True

True or false? "Pop-up" stores let retailers promote brands to seasonal shoppers for a limited time.

Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company. A) product licensing B) brand extensions C) brand architecture D) brand audits E) brand dilutions

Using an established brand to introduce a new product is called brand ________. A) harmonization B) valuation C) extension D) positioning E) parity

True

True or false? Advertising can build up a long-term image for a product or trigger quick sales.

A large staff, along with a higher proportion of specialty goods and slower-moving items and many services, are usually features of ________ retailing. A) self-service B) self-selection C) limited service D) full-service E) limited-selection

The fact that services are typically produced and consumed simultaneously is known as the ________ aspect of services. A) perishability B) intangibility C) heterogeneity D) inseparability E) variability

A ________ consists of all products-original as well as line and category extensions-sold under a particular brand. A) brand line B) cobrand C) generic brand D) licensed product E) subbrand

A ________ is a sales force promotion tool that aims at inducing the sales force or dealers to increase their sales results over a stated period, with prizes (money, trips, gifts, or points) going to those who succeed. A) trade show B) frequency program C) sales contest D) sweepstake E) patronage award

A ________ is anything that can be offered to a market to satisfy a want or need, including physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. A) function B) product C) benefit D) process E) structure

A ________ is the set of all products and items a particular seller offers for sale. A) product line B) product mix C) product extension D) product system E) product class

A brand ________ can be defined as any information-bearing experience a customer or prospect has with the brand, its product category, or its market. A) value B) personality C) trait D) character E) contact

A brand ________ is the set of all brands and brand lines a particular firm offers for sale to buyers in a particular category. A) architecture B) position C) portfolio D) extension E) image

A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a ________ brand. A) generic B) franchisee C) marque D) national E) private-label

A major advantage of a ________ strategy is that if the product fails, the company has not tied its reputation to the product. A) blanket family name B) licensing C) separate family brand name D) category extension E) brand revitalization

A manufacturer has invested $750,000 in a new product and wants to set a price to earn a 15 percent ROI. The cost per unit is $18 and the company expects to sell 50,000 units in the first year. Calculate the company's target-return price for this product. A) $18.10 B) $18.23 C) $20.25 D) $20.70 E) $25.50

A manufacturer of hiking boots looks at data that indicate that their subsegment of the market called "serious hiker" is declining and is predicted to decline into the future. The firm decides to enter the "low-price" segment with its new items. This is an example of a firm's ________ to reach a new market. A) down-market stretch B) up-market stretch C) two-way stretch D) marketing research E) disintermediation

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________. A) natural products B) component materials C) operating supplies D) equipment E) processed materials

A brand must demonstrate ________, for it to function as a true point-of-difference. A) clear superiority of an attribute or benefit B) clear profitability to the company C) clear similarity to the attributes of other brands D) technological advances for an attribute or benefit E) exploitation of competitors' weakness

A brand that is action-oriented and causes consumers to engage in physical actions appeals to the ________ dimension of brand experience. A) sensory B) affective C) behavioral D) intellectual E) social

A computer manufacturing company allows customers to shop in their preferred way. For example, they can gather information online or in the store; they can place orders online or by phone or purchase in a store. They can have orders delivered to their home or arrange to pick them up from a convenient retail location. Which of the following terms best represents this practice? A) omnichannel marketing B) mass customization C) online personalization D) push strategy E) internal marketing

A consumer who expresses rational and emotional attachments to a brand to the exclusion of most other brands has reached the ________ level in the BrandDynamics Pyramid. A) advantage B) relevance C) presence D) performance E) bonding

A factory outlet is an example of a(n) ________ retailer. A) off-price B) specialty C) discount D) department E) catalog

A firm that is plagued with overcapacity, intense competition, or changing consumer desires would do better if it pursues ________ as its major objective. A) market skimming B) product-quality leadership C) survival D) profit maximization E) market penetration

A group of small sellers takes the initiative and organizes a new business entity to carry on wholesaling and possibly some production. This entity is called a(n) ________. A) retailer cooperative B) franchise organization C) area-based cartel D) sponsored voluntary chain E) alternate selling channel

A large retail chain in the United States decides to expand its operations by adding an online site for e-commerce. This is called a(n) ________ company. A) B2B B) brick-and-mortar C) m-commerce D) pure-click E) brick-and-click

A market-penetration pricing strategy is most suitable when ________. A) a low price slows down market growth B) production and distribution costs fall with accumulated production experience C) a high price dissuades potential competitors from entering the market D) the market is characterized by inelastic demand E) a low price encourages actual competition

A marketing manager has decided to "leapfrog" the competition by moving into cutting-edge technologies. This indirect approach to attacking competition can be characterized as a(n) ________ attack. A) flank B) encirclement C) bypass D) guerrilla E) frontal

A reorder point of 10 means ordering the product ________. A) every 10 days B) when stock falls to 10 units C) every 10 units D) when stock falls to 9 units E) in batches of 10 items

A store selling expensive artwork and luxury goods typically falls into the ________ group with respect to margins and volume. A) mixed-markup, high-volume B) low-volume, mixed-markup C) low-volume, low-markup D) high-volume, low-markup E) high-markup, low-volume

A(n) ________ appeal is a creative strategy that elaborates on product or service attributes or benefits. A) aesthetic B) informational C) bandwagon D) emotional E) transformational

A(n) ________ is a group of firms offering a product or class of products that are close substitutes for one another. A) community B) task force C) industry D) focus group E) umbrella brand

A(n) ________ is a storeless retailer serving a specific clientele-usually employees of large organizations-who are authorized to buy from a list of retailers that have agreed to give discounts in return for inclusion on the list. A) direct-selling vendor B) direct marketing vendor C) buying service D) automatic vendor E) corporate retailer

A(n) ________ is an elaborated version of a product idea expressed in consumer terms. A) test brand B) alpha product C) beta product D) business schedule E) product concept

A(n) ________ vertical marketing system combines successive stages of production and distribution under single ownership. A) corporate B) administered C) contractual D) regulatory E) controlled

AT&T's business campaign not only helped to change public perceptions of the company, it also signaled to employees that AT&T was determined to be a leader in telecommunication services. Which principle of internal branding does this example portray? A) choosing the right moment to capture employees' attention and imagination B) furnishing energizing and informative internal communication C) bringing the brand alive for employees D) linking internal and external marketing E) understanding how brand communities work

According to BrandAsset® Valuator model, leadership brands show ________. A) high levels of energy, differentiation, relevance, knowledge, and esteem B) higher levels of esteem and knowledge than relevance, whereas both differentiation and energy are lower still C) higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still D) low levels on energy, differentiation, relevance, knowledge, and esteem E) high knowledge-evidence of past performance-a lower level of esteem, and even lower relevance, energy, and differentiation

According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps would address or answer the question "Can this brand deliver?" A) performance B) bonding C) advantage D) relevance E) presence

According to the BrandAsset® Valuator model, strong new brands show ________. A) higher levels of esteem and knowledge than relevance, whereas both differentiation and energy are lower still B) higher levels of differentiation and energy than relevance, whereas both esteem and knowledge are lower still C) high knowledge-evidence of past performance-a lower level of esteem, and even lower relevance, energy, and differentiation D) high levels on energy, differentiation, relevance, knowledge, and esteem E) low levels on energy, differentiation, relevance, knowledge, and esteem

Adam wants to buy a washing machine and is looking for something that is not too expensive. When he goes to make the purchase, he finds there are two options that meet his requirements. One is a Maytag product, while the other is a newly imported South Korean brand. Adam is not very familiar with the latter and does not hesitate in choosing Maytag. This example implies that ________. A) the imported brand will not survive the competition from Maytag B) Maytag has positive customer-based brand equity C) the South Korean company has a low advertising budget D) the imported brand is unreliable E) the Maytag washing machine has better features than the imported brand

Advertising and publicity tools play the most important roles in influencing buying decisions at the ________ stage of buyer readiness. A) comprehension B) conviction C) ordering D) reordering E) awareness-building

Alcart Solutions is a large distributor of Aldor phones in Canada. The company distributes products to various retailers in the New Brunswick province. Recently Aldor received several complaints from its retailers that their orders are not delivered on time. This is an example of ________ conflict. A) multichannel B) horizontal C) vertical D) intermediate E) parallel

All marketing strategy is built on segmentation, targeting, and ________. A) positioning B) product C) planning D) promotion E) performance

All response hierarchy models of the communication process assume the buyer passes through cognitive, affective, and behavioral stages, in that order. Which of the following product categories lends itself most appropriately to such a "learn-feel-do" sequence? A) socks B) salt C) real estate D) gasoline for a car E) airline tickets

Although Brenda previously used the US Postal Service because it offered better prices on package shipping, she now uses only FedEx, because it gives her the facility of shipping from any FedEx location 24 hours a day. Which of the following factors led to Brenda's customer switching behavior? A) inconvenience B) pricing C) response to service failure D) ethical problems E) involuntary switching

An advertising objective to stimulate more usage of a product is appropriate under which of the following conditions? A) The advertised product belongs to a nascent product category. B) The company is not the market leader. C) The advertised brand is superior to the market leader. D) The product class is mature. E) Brand usage for the product is very high.

An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________. A) marketing king B) market nicher C) segment king D) guerilla marketer E) strategic clone

An example of a restaurant with a narrow and deep assortment is a ________. A) small lunch counter B) cafeteria C) large restaurant D) fast-food restaurant chain E) delicatessen

An independent retailer using a central buying organization and joint promotion efforts with other retailers is part of a ________. A) corporate chain store B) voluntary chain C) retailer cooperative D) merchandising conglomerate E) franchise organization

An umbrella manufacturing company's fixed costs are $275,000. The variable cost per unit is $5 and each umbrella is sold at $10. How many units should the firm sell in order to break even? A) 1,819 B) 5,500 C) 18,000 D) 27,500 E) 55,000

Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. She has started considering whether or not to buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in? A) awareness B) adoption C) evaluation D) trial E) interest

Aromas Inc. introduced a new line of shower gels. To analyze consumer reaction, the company interviewed people who bought them. When Sarah was asked why she had chosen the new shower gel, she said she bought it because a friend recommended it. Sarah is at which level of the BrandDynamics Pyramid? A) presence B) bonding C) relevance D) performance E) advantage

As Ben manages communications for his company's watch brand, which has reached the decline stage in the product life cycle, which of the following marketing communications mix tools is he most likely to continue? A) interactive marketing B) advertising C) personal selling D) direct marketing E) sales promotion

Atburex is a furniture manufacturing company in the United States. The company provides a 60-day credit period and also offers on-site delivery and installation. These special benefits refer to which of the following service outputs? A) service backup B) large product variety C) spatial convenience D) large lot size E) short waiting time

Because shelf space is scarce, many supermarkets now charge a ________ for accepting a new brand, to cover the cost of listing and stocking it. A) retainer B) slotting fee C) residual fee D) contingent fee E) royalty

Belling Hotels provides a complimentary breakfast buffet to all guests. This is an example of a ________. A) primary service package B) service interface C) service support D) service frequency E) secondary service feature

Brand ________ are devices that can be trademarked and serve to identify and differentiate the brand. A) elements B) value propositions C) perceptions D) images E) extensions

Brand ________ is the job of estimating the total financial worth of the brand. A) tracking B) auditing C) equity D) valuation E) harmonization

Brand mantras typically are designed to capture the brand's points-of-________. A) conflict B) parity C) inflection D) difference E) presence

Branding is ________. A) all about creating unanimity between products B) the process of performing market research and selling products or services to customers C) endowing products and services with the power of a brand D) the process of comparing competing brands available in the market E) use of online interactive media to promote products and brands

Brown & Smith, Inc. engages in the design, development, making, and retail selling of designer jewelry in North America. Before approving a new design, the company draws it on a computer and then produces models to show potential consumers and get their reactions. This allows the company to analyze the possible customer reaction. Identify the concept testing method used here. A) conjoint analysis B) perceptual mapping C) virtual reality testing D) rapid prototyping E) digital fabrication

Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. Since 1992, his designs have incorporated the shiny, red-lacquered soles that have become his signature. These red-lacquered soles and high stilettos of Louboutin distinguish him from other designer shoe brands. In accordance with the BrandAsset® Valuator model, which of the following components of brand equity has Louboutin fulfilled in this scenario? A) energized differentiation B) relevance C) esteem D) knowledge E) advantage

Companies should first think about the target market and then design the supply chain backward from that point. This strategy is called ________ planning. A) demand chain B) resource C) external channel D) materials E) strategic business

Companies that sell products door-to-door or at home sales parties are engaging in ________. A) franchising B) network marketing C) direct-response marketing D) corporate selling E) direct marketing

Comparative advertising works best when ________. A) it elicits cognitive and behavioral motivations simultaneously B) the firm is trying to minimize brand dilution C) consumers are processing advertising in a detailed, analytical mode D) it elicits affective motivation, followed by cognitive motivation E) the advertising message uses negative fear appeals

ConAgra Foods decided its prices had risen too high, so it determined to set a lower price for its products. To make the new price level profitable, ConAgra cut $250 million in costs. What application of cost estimation did this represent? A) target costing B) experience-curve pricing C) ceiling pricing D) the learning curve E) promotional price elasticities

Consumers are less price sensitive when ________. A) they buy high cost items B) they frequently change their buying habits C) there are more substitutes D) there are more competitors E) they do not readily notice higher prices

Dante is a media buyer with Shelvey Partners, an ad agency in San Francisco. He is currently working on charting a media plan for the ads of a department store chain to target the upcoming Thanksgiving weekend. Which of the following advertising timing patterns is best suited for running these ads? A) continuity B) flighting C) pulsing D) concentration E) frequency capping

Dean recently had a BRZ broadband connection installed. However, the connection was poor, and he didn't get the quality he required. He contacted BRZ about the problem, but the company did not solve his problem. Dean switched to Blue Broadband. Which of the following was the cause of Dean's switching behavior? A) involuntary switching B) competition C) response to service failure D) service encounter failures E) inconvenience

In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements. A) convenience item B) flagship product C) staple item D) potential product E) basic platform

Despite its weaknesses, markup pricing remains popular for which of the following reasons? A) Sellers can determine demand much more easily than they can estimate costs. B) By tying the price to cost, the pricing task becomes more sophisticated. C) When all firms in the industry use markup pricing, price competition flourishes. D) Sellers take advantage of buyers when the latter's demand becomes acute. E) Many people feel that cost-plus pricing is fairer to both buyers and sellers.

Discount stores typically fall into the ________ group with respect to margins and volume. A) mixed-markup, high-volume B) low-volume, mixed-markup C) low-volume, low-markup D) high-volume, low-markup E) high-markup, lower-volume

Door-to-door sales, home parties, mail order, telemarketing, TV selling, Internet selling, and manufacturer-owned stores are examples of ________. A) zero-level channels B) jobbers C) wholesalers D) manufacturer's representatives E) consumers

Electrobar, a European manufacturer of industrial kitchenware, sells to industrial canteens, restaurants, hotels, and so forth. The company provides a one-year warranty on all products and also allows customers to pay in installments-they pay 50 percent on delivery and the rest as equal installments. This refers to which element in the "trade-relations mix"? A) price policy B) conditions of sale C) distributors' territorial rights D) exclusive dealings E) mutual services and responsibilities

Firms have decided to raise fees and lower service for those customers who barely pay their way and to coddle big spenders to retain their patronage as long as possible. This is an example of organizing customers by ________. A) retailer convenience B) profit tiers C) psychographic characteristics D) social influence E) customer preference

Johnson Controls reached beyond selling climate-control equipment and components by selling the service of managing facilities in a way that optimizes energy use in heating and cooling. This is an example of providing ________. A) facilitating services B) a primary service package C) value-augmenting services D) service contracts E) service warranties

Even if sales of a brand extension are high and meet targets, the revenue may be coming from consumers switching to the extension from existing parent-brand offerings-in effect ________ the parent brand. A) diluting B) cannibalizing C) reinforcing D) eroding E) revamping

Everyday low pricing is most suitable if ________. A) consumers are willing to perform activities such as clip coupons to avail of discounts B) consumers tend to associate price with quality C) customers are insensitive to changes in price D) the cost of conducting frequent sales and promotions is high E) consumers have sufficient time to find the best prices

Exclusive dealing arrangements are mainly used by companies looking for an edge in markets increasingly driven by ________. A) price B) efficiency C) product variety D) add-on services E) spatial convenience

Expensive equipment manufacturers not only install the equipment but also train the staff and undertake the maintenance and repair activities of the equipment. By doing so, they are providing ________. A) payment equity B) value-augmenting services C) differential pricing D) facilitating services E) a primary service package

For ________ to be valued for products like vehicles and kitchen appliances, it should not be associated with an excessive price premium and the product must not be subject to rapid technological obsolescence. A) conformance quality B) performance quality C) repairability D) durability E) style

For a new manufacturer managing product support for its equipment, what is usually the first strategy for postsale service? A) letting customers hire their own service people to work on-site B) letting independent services handle repairs and maintenance C) pricing equipment high and charging low prices for service D) running the company's own parts-and-service department E) switching maintenance services to authorized distributors

For price discrimination to work ________. A) the market must be segmentable and the segments must show similar intensities of demand B) members in the lower-price segment must be able to resell the product to the higher-price segment C) competitors must be able to undersell the firm in the higher-price segment D) the practice must not breed customer resentment and ill will E) the extra revenue derived from price discrimination must not exceed the cost of segmenting and policing the market

From a marketing management perspective, there are three main sets of brand equity drivers. Which of these drivers was most applicable when McDonald's decided to use the "golden arches" and Ronald McDonald as symbols of their brand? A) the product and all accompanying marketing activities and supporting marketing programs B) the service and all accompanying marketing activities and programs C) the initial choices for the brand elements or identities making up the brand D) associations indirectly transferred to the brand by linking it to some other entity E) the profitability associated with brand development

In markets that are characterized by products that are highly homogeneous, how should a firm react to a competitor's reduction in price? A) shrink the amount of the product available B) substitute expensive materials or ingredients C) reduce product features D) reduce product services E) augment the product

Galaxy chocolate has successfully competed with Cadbury by positioning itself as "your partner in chocolate indulgence" and featuring smoother product shapes, more refined taste, and sleeker packaging, which represents which of the following main strategies for growing the core of the business? A) Make the core of the brand as distinctive as possible. B) Drive distribution through both existing and new channels. C) Offer the core product in new formats or versions. D) Increase costs and revenue. E) Expand to another geographic region.

Gillette uses ________ pricing when it offers razor handles at a low cost, but places a high markup on the replacement razor blades that fit in the handles. A) optional-feature B) two-part C) by-product D) product line E) captive-product

Guarantees are most effective in two situations. The first is when the company or products are not well known. The second is when the product's quality is ________ to competition. A) not known B) different C) inferior D) equivalent E) superior

Happy Home Products produces detergents, toothpaste, bar soap, disposable diapers, and paper products. This company has a product ________ of five lines. A) type B) length C) class D) mix E) width

If Microsoft announces plans for a new-product development, smaller firms may choose to concentrate their development efforts in other directions to avoid head-to-head competition. In this example, Microsoft is employing a ________ defense strategy. A) preemptive B) counteroffensive C) mobile D) flank E) contraction

If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________. A) reliability B) conformance quality C) durability D) compatibility E) interoperability

In ________ pricing, the firm bases its price largely on competitor's prices. A) going-rate B) auction-type C) markup D) target-return E) perceived-value

In ________, the seller charges a separate price to each customer depending on the intensity of his or her demand. A) second-degree price discrimination B) third-degree price discrimination C) psychological discounting D) special-customer pricing E) first-degree price discrimination

In a ________ marketing system, two or more unrelated companies put together resources or programs to exploit an emerging marketing opportunity. A) reverse flow B) vertical C) horizontal D) lateral E) forward flow

In addition to its store brands and nationally well-known brands of detergents, Reynold's also carries much cheaper varieties of detergents that are not advertised and have little-known names. They are often manufactured from lower-quality ingredients and save on packaging and advertising costs. These are known as ________. A) common carriers B) shills C) generics D) private labels E) marques

In which of the following does a customer respond to the technical quality of a service? A) Sara's preferred hair stylist is some miles away, but Sara goes to him because his styles suit her looks. B) Kathy tries out a new restaurant every week, because she likes to experience the variety. C) Bill has gone to the same chiropractor for the past fifteen years, because he is friendly and takes the time to listen to Bill. D) Ray avoids going to the bank as far as possible because the manager is rude and unhelpful. E) Alex has no interest in theater, but goes often because her best friend loves plays.

In which of the following forms of countertrade do buyers and sellers directly exchange goods, with no money and no third party is involved? A) buyback arrangements B) offsets C) barter D) sealed bids E) compensation deals

JBJ Sports is a leading sporting goods manufacturer from Atlanta. It has recently initiated a program in association with the Food4Kids Foundation, which raises funds to promote nutritional awareness of young children. The company plans to donate $1 for every item it sells in the North American market. Also, JBJ has roped in professional sports teams associated with it to wear the Food4Kids logo on their team gear. Which of the following best describes the motivation for JBJ's involvement in the program? A) entertaining key clients or rewarding key employees B) expressing commitment to the community or on social issues C) permitting merchandising or promotional opportunities D) stimulating quicker or greater purchase of particular brands E) identifying with a particular target market or lifestyle

JJ's Hair Salon pays overhead each month, including bills for rent, heat, interest, and salaries. These payments are examples of ________ costs. A) total B) average C) activity-based D) variable E) fixed

Jake had an appointment at the doctor's office, but couldn't make it on time due to traffic. By the time he arrived, the doctor had already begun with the next patient. This illustrates the ________ of services. A) variability B) heterogeneity C) perishability D) intangibility E) homogeneity

Perdue's cogent reason why a target market should buy its chicken is "More tender golden chicken at a moderate premium price," also known as its ________. A) customer-focused value proposition B) competitive frame of reference C) points-of-parity D) straddle positioning E) perceptual map

Jordan's firm enters new markets by tweaking products for new customers, uses variations on a core product to stay one step ahead of the market, and creates interim solutions for industry-wide products. In other words, it pursues ________. A) disruptive technologies B) incremental innovation C) complex innovations D) discontinuous innovations E) radical innovations

Joseph, a student of Columbia University, found that many of his classmates had purchased an iPad tablet from Apple. Several months after the product's launch, realizing that the iPad was widely considered to be useful and that many students in the United States had rated it highly, Joseph also decided to purchase an iPad. Which of the following is the adopter group to which Joseph belongs? A) early adopter B) innovator C) late majority D) laggard E) early majority

Luke is considering the various options available to him to promote an energy drink, Turbozade, that has decreasing sales volumes after having peaked some time back. Which of the following marketing communications tools should Luke focus marketing efforts on to keep the sales volume up? A) advertising B) direct marketing C) events and experiences D) sales promotions E) publicity

M-commerce refers to ________. A) conducting business using mobile channels B) the use of mass media communications to attract customers C) providing mobile and on-site services to customers D) the use of a specific medium to communicate with prospects E) using the Internet as a medium for doing business

Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What does this image pricing suggest about these consumers? A) They process prices from left to right. B) They use the price as an indicator of quality. C) They are rounding up the price. D) They are remembering an external frame of reference. E) They are breaking the price into smaller units.

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk. A) actual B) perceived C) real D) implied E) stated

Pepsodent launched a new product that could whiten teeth, fight decay, and maintain fresh breath. Observing that Pepsodent did not focus on the dental sensitivity aspect, Colgate introduced a toothpaste which did all of the above and also protected sensitive teeth. This is an example of a(n) ________ attack. A) frontal B) flank C) guerrilla D) encirclement E) bypass

Marketers typically focus on brand ________ in choosing the points-of-parity and points-of-difference that make up their brand positioning. A) equity B) awareness C) benefits D) architecture E) extensions

Marketing communication strategy can be decided by conducting an image analysis, which profiles the target audience in terms of ________. A) brand knowledge B) purchase patterns C) demographic characteristics D) income levels E) psychographic characteristics

Marketing communications budgets tend to be higher when conditions include ________. A) high channel support B) hardly any change in the marketing program over time C) products purchased infrequently and in large quantities D) differentiated products and nonhomogeneous customer needs E) easily reachable customers

Matt's retail store offers all products at $2 less than its competitors. The store never runs promotional campaigns or offers special discounts. Matt's retail store is following a(n) ________ pricing policy. A) auction-type B) target-plus C) everyday low D) high-low E) going-rate

Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved into classes such as deodorants, shampoos, and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse, and its cosmetics would be colorful enough. This is an example of ________. A) competitive points-of-parity B) competitive points-of-difference C) category points-of-parity D) category points-of-difference E) competitive points-of-presence

One of the possible objectives of marketing communications is helping consumers evaluate a brand's perceived ability to meet a currently relevant need. Which of the following relevant brand needs is most likely emphasized by an advertisement for a luxury car? A) problem removal B) sensory gratification C) normal depletion D) intellectual stimulation E) problem avoidance

Packaging includes all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package. A) retailer B) design C) shipping D) consumer E) supplier

Pepe Homes manufactures a range of bathroom accessories and fittings that include bath tubs, shower stalls, etc. While deciding on an effective advertising media vehicle for its planned advertising campaign, the marketing department decides that its advertising objectives would be best achieved if they used a medium that would portray their brand as prestigious and a symbol of luxury. To this effect, the medium should offer marketers a high degree of audience selectivity and high-quality reproduction. Which of the following advertising media would best serve the advertising purposes of Pepe Homes? A) outdoor media B) radio C) magazines D) television E) newspapers

Philip Morris bought Miller brewing and launched low-calorie beer, at a time when consumers had the impression that low-calorie beer does not taste as good as normal beer. What did the company try to build when they conveyed the fact that the beer contained one third less calories and hence it is less filling? A) points-of-difference B) points-of-conflict C) points-of-parity D) points-of-presence E) points-of-inflection

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here? A) first entry B) blunt entry C) parallel entry D) late entry E) exchange entry

Points-of-________ are product associations that are not necessarily unique to the brand but may in fact be shared with other brands. A) parity B) difference C) inflection D) presence E) divergence

Rather than merely counting media exposures, a better measure of marketing public relations effectiveness is the ________. A) number of promotional tools required B) effect it has on its market capitalization C) change in product awareness, comprehension, or attitude D) changes observed in media behavior E) impact it has on the company's market share

Prices that end in 9 are most appropriate when ________. A) customers have substantial knowledge about quality B) customers process prices right to left C) there is a mental price break at the lower, rounded price D) the marketer wants to suggest a discount or bargain E) the marketer wants to convey a high-price image

Producers often shift some functions to intermediaries. Which of the following is the most significant benefit of doing this? A) It increases customer loyalty. B) It provides the producer with greater control over operations. C) It reduces the amount of direct customer interaction. D) It lowers the producer's costs and prices. E) It ensures greater information security.

Realizing that although household products is a huge category-taking up an entire supermarket aisle or more-it is an incredibly boring one, the founders of Method Products designed a sleek, uncluttered dish soap container that also carried functional advantages, such as ease of dispensing soap and cleaning. Method is competing in the crowded market for household products on the basis of superior ________. A) design B) durability C) conformance D) reliability E) performance quality

Red Bull enlisted college students as "Red Bull student brand managers" to distribute samples, research drinking trends, design on-campus product promotion activities, and write stories for student newspapers. From a marketing management perspective, which of the following brand equity drivers is most applicable in the given scenario? A) the profitability associated with brand development B) associations indirectly transferred to the brand by linking it to a person C) the product and all accompanying marketing activities and supporting marketing programs D) the initial choices for the brand elements or identities making up the brand E) associations indirectly transferred to the brand by linking it to a place

Regular maintenance and repair costs are known as ________ costs. A) service contract B) out-of-pocket C) fixed D) facilitating services E) value-augmentation

Rolex calls itself the "Official Timekeeper" of the Wimbledon and Australian Open lawn tennis championships, by virtue of its sponsorships of the marquee events. What is the most likely objective for Rolex's sponsorship deal with these events? A) to permit merchandising or promotional opportunities B) to express commitment to the community or on social issues C) to create experiences and evoke feelings D) to identify with a particular target market or lifestyle E) to increase salience of company or product name

Rotter Garder Inc. is a large-scale paint manufacturer known for its wide range of decorative paint products and industrial coatings. In addition to making paints, the company also owns and operates the retail stores that sell its products. This is an example of a(n) ________ vertical marketing system. A) administered B) contractual C) referent D) corporate E) regulated

SJC is a new retailer that targets the youth market. SJC needs to make an impression using advertising, and decides to use funny or irreverent ads to get its point across. Each ad features one of SJC's competitors and conveys an advantage SJC has over that competitor. Which of the following is the company using to convey its membership in the retail segment? A) announcing category benefits B) comparing to exemplars C) relying on the product descriptor D) using channel differentiation E) maximizing negatively correlated attributes

Service quality depends on who provides them, when and where they are provided, and to whom they are provided. Thus, services are highly ________. A) inseparable B) tangible C) variable D) perishable E) intangible

Services high in ________ qualities are those services that have characteristics that the buyer normally finds hard to evaluate even after consumption. A) trial B) search C) experience D) privacy E) credence

Services high in ________ qualities have characteristics that the buyer can evaluate after purchase. A) privacy B) experience C) credence D) search E) stock

Services high in ________ qualities have characteristics that the buyers can evaluate before purchase. A) search B) experience C) credence D) privacy E) storing

Smith & Adams Poultry set up a computer system so that its customers (restaurants and hotels) can directly inform its central supply system about purchase volumes and dates, as well as automatically receive confirmation of orders and shipments. This is an example of a company differentiating its service in terms of ________. A) customer relationships B) customer training C) installation D) delivery ease E) ordering ease

Stacey wants to use a highly relevant, engaging, and implicit communications mix mode to use a "soft sell" approach for her new makeup line. The communications mix mode that has these characteristics is ________. A) sales promotions B) events and experiences C) advertising D) direct and interactive marketing E) personal selling

Stores are using ________ to measure a product's handling costs from the time it reaches the warehouse until a customer buys it in the retail store. A) electronic data interchange (EDI) B) direct product profitability (DPP) C) radio-frequency identification (RFID) D) global positioning systems (GPS) E) compounded annual grown rate (CAGR)

The brand name of New Zealand vodka 42BELOW refers to both a latitude that runs through New Zealand and the percentage of its alcohol content. From a marketing management perspective, which of the brand equity drivers is most applicable in the given scenario? A) the associations indirectly transferred to the brand by linking it to a place or thing B) the product and all accompanying marketing activities and supporting marketing programs C) the initial choices for the brand elements or identities making up the brand D) the profitability associated with brand development E) the service and all accompanying marketing activities and programs

The customer service representatives at G.K.'s Heating and Cooling must know as much about the products as possible, so that they can help customers solve their difficulties without sounding hesitant or unsure of themselves. This is an example of a high-quality strategy for ________. A) life-cycle cost B) postsale service C) self-service technologies D) out-of-pocket costs E) expectation management

The elapsed time between an order's receipt, delivery, and payment is called the ________ cycle. A) variable-costs-to-payment B) product-to-payment C) inventory-to-sale D) order-to-inventory E) order-to-payment

The most important determinant of service quality is ________ which refers to the ability to perform the promised service dependably and accurately. A) empathy B) assurance C) responsiveness D) reliability E) tangibles

The number of different persons or households exposed to a particular media schedule at least once during a specified time period is known as ________. A) range B) impact C) intensity D) reach E) frequency

The number of times within a specified time period that an average person or household is exposed to an advertising message is known as ________. A) impact B) frequency C) amplitude D) reach E) depth

The owner of supermarket chain Reynold's wants to offer nonfood items such as greeting cards and magazines. However, Reynold's does not want to take care of setting up displays and maintaining inventory records. Which of the following types of wholesalers can help Reynold's meet customer demand while minimizing costs? A) producers' cooperatives B) cash and carry wholesalers C) truck wholesalers D) drop shippers E) rack jobbers

The stage in the new product process that occurs first is the ________ stage. A) idea generation B) product development C) test marketing D) product soft launch E) concept testing

False

True or false? Advertising and publicity play the most important roles in the conviction stage of buyer readiness.

The three criteria that determine whether a brand association can truly function as a point-of-difference are ________. A) comparability, authenticity, deliverability B) desirability, peculiarity, deliverability C) deviance, peculiarity, deformity D) desirability, deliverability, differentiability E) differentiability, authenticity, desirability

To which of the following categories of services does a cell phone belong? A) major service with accompanying minor services B) major service with accompanying minor goods C) pure service D) pure tangible good E) tangible good with accompanying services

Toyota has an advantage over Lexus due to the fact that there are more Toyota dealers, which helps customers save on transportation and search costs in buying and repairing an automobile. Which of the following service outputs relates to this competitive advantage? A) spatial convenience B) service backup C) lot size D) waiting time E) delivery time

True

True or false? A brand audit can assess the health of a brand and uncover sources of brand equity.

False

True or false? A business analysis is performed mainly to identify if a company has a technically and commercially sound product.

False

True or false? A company is more likely to be hurt by current competitors than by emerging competitors or new technologies.

True

True or false? A company must consider the product's stage in the life cycle and its importance in the company's portfolio before responding to a competitor's price cut.

True

True or false? A corporate vertical marketing system combines successive stages of production and distribution under single ownership.

False

True or false? A drawback of public relations is that is does not reach prospects who prefer to avoid mass media and targeted promotions.

False

True or false? A firm in a homogeneous market that has the ability to augment its product is more likely to need to meet a competitive price reduction than one that does not have the ability to augment its product.

True

True or false? A firm's branding strategy is also called the brand architecture.

True

True or false? A leverageable advantage is one that a company can use as a springboard to new advantages.

True

True or false? A marketer who has unit costs of $16 and wants to earn a 20 percent markup on sales would charge a markup price of $20.

True

True or false? A marketing channel overcomes the time, place, and possession gaps that separate goods and services from those who need or want them.

False

True or false? A person who has a bad customer experience is more likely to talk about it, but someone who has a good experience will talk to more people.

False

True or false? A product's purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value is known as the product's activity cost.

True

True or false? A public is any group that has an actual or potential interest in or impact on a company's ability to achieve its objectives.

False

True or false? A pull strategy is particularly appropriate when there is low brand loyalty in a category, brand choice is made in the store, the product is an impulse item, and product benefits are well understood.

False

True or false? A pure service requires a capital-intensive good, but the primary item is a service.

False

True or false? A service results in ownership on the part of the client.

False

True or false? A superstore is a storeless retailer serving a specific clientele who are entitled to buy from a list of retailers that have agreed to give discounts in return for membership.

False

True or false? According to the BrandZ model, "Bonded" consumers at the lower levels of the pyramid build stronger relationships with and spend more on the brand than those at the top.

Under which of the following conditions is the frequency the most important factor in media selection? A) when introducing flanker brands B) when launching infrequently purchased brands C) when going into undefined target markets D) when there is high consumer resistance to the product E) when there is modest competition to the brand in the market

Under which of the following conditions is the reach of media the most important factor in media selection? A) when introducing frequently purchased brands B) when going into a defined target market C) when launching extensions of well-known brands D) when there are strong competitors to a brand E) when there is high consumer resistance to the product

Unlike physical products, services cannot be seen, tasted, felt, heard, or smelled before they are bought. This characteristic of services is known as ________. A) inseparability B) intangibility C) variability D) perishability E) heterogeneity

WD40 offers a Smart Straw version of its popular multipurpose lubricant with a built-in straw that pops up for use. This is an example of which of the following main strategies for growing the core of the business? A) Make the core of the brand as distinctive as possible. B) Drive distribution through both existing and new channels. C) Offer the core product in new formats or versions. D) Increase costs and revenue. E) Expand to another geographic region.

What function does a company's public relations department perform when it promotes understanding of the organization through internal and external communications? A) lobbying B) corporate communications C) press relations D) product publicity E) counseling

What is the major difference between a conventional marketing channel and a vertical marketing system (VMS)? A) Elements in a conventional marketing channel act as separate businesses whereas the elements in a VMS act as a unified system. B) A VMS has many intermediaries whereas a conventional marketing channel has a limited number of intermediaries. C) A VMS is characterized by an independent producer whereas a conventional marketing channel is characterized by multiple producers. D) A conventional marketing channel has elements such as retailers and wholesalers whereas these elements are not present in a VMS. E) Producers have complete control over the other members in a conventional marketing channel whereas this control is minimal in a VMS.

What would a consumer's lower price threshold signal? A) the use of everyday low pricing B) a discounted price for a high-value product C) a fair price D) a price below which the product is considered to be a good value E) a price below which the product is assumed to be of unacceptable quality

When Aaron went to his doctor for his annual checkup, he was asked to undergo a number of tests. Although the doctor assured Aaron that the tests were routine, Aaron thinks that the doctor is hiding a grave problem from him. What kind of a gap is apparent here? A) gap between perceived service and expected service B) gap between service delivery and external communications C) gap between service-quality specifications and service delivery D) gap between management perception and service-quality specification E) gap between consumer expectation and management perception

When Apple introduced its iPhone, it was priced at $599. This allowed Apple to earn the maximum amount of revenue from the various segments of the market. Two months after the introduction, the price had come down to $399. What kind of a pricing did Apple adopt? A) loss-leader pricing B) market-penetration pricing C) market-skimming pricing D) target-return pricing E) value pricing

When Coca-Cola determines the bottled-water competitors for its Dasani brand by identifying the products or sets of products with which a brand competes and which function as close substitutes, it is determining Dasani's ________. A) customer-focused value proposition B) points-of-parity C) points-of-difference D) category membership E) brand mantra

When Coca-Cola focused on developing its soft-drink business but missed seeing the market for coffee bars and fresh-fruit-juice bars that eventually impinged on its soft-drink business, it was suffering from ________ because it defined competition in traditional category and industry terms. A) factor elimination B) marketing myopia C) factor reduction D) category points-of-parity E) reliance on product description

When Fred sends in the box top from his cereal to receive a free DVD of a cartoon featuring one of his favorite characters, he is responding to a ________. A) self-liquidating premium B) with-pack premium C) reduced-price pack D) banded pack E) free in-the-mail premium

When Goodyear began selling its popular tire brands through Sears, Walmart, and Discount Tire, independent dealers that sold the same tires at higher prices were angry. This is an example of a(n) ________ conflict. A) horizontal B) vertical C) intermediate D) multichannel E) parallel

When Japanese teenagers carry mobile phones from NTT and use them to order goods, they are engaged in ________. A) B2B ecommerce B) brick-and-click commerce C) infomediation D) dilution E) m-commerce

When Lola asked what the advertising campaign should say, she was concerned with which of the five Ms? A) Mission B) Money C) Message D) Media E) Measurement

When Starbucks introduced its Tazo Tea line to bring in new customers who had never gone to Starbucks because they don't drink coffee, Starbucks was employing a ________ strategy. A) market-penetration B) new-market segment C) geographical-expansion D) niche identification E) blue-ocean

When a consumer expresses thoughts, feelings, images, experiences, and beliefs associated with the brand, the consumer is expressing ________. A) brand knowledge B) ethnocentric bias C) self-serving bias D) cognitive dissonance E) brand identity

When a marketer expresses his or her vision of what a brand must be and do for consumers, he or she is expressing what is called a brand ________. A) promise B) personality C) identity D) position E) revitalization

When a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy? A) pure tangible good B) basic product C) augmented product D) potential product E) generic product

When companies search for new ways to satisfy customers and distinguish their offering from others, they look at the ________ product, which encompasses all the possible augmentations and transformations of the product. A) consumption B) expected C) potential D) augmented E) basic

When food product companies advertise recipes that use their branded products in entirely different ways, they are increasing the ________ consumption of the brand. A) amount of B) level of C) dedication to D) frequency of E) awareness

When hotels, motels, and airlines offer discounts in slow selling periods, they are said to be offering ________. A) trade discounts B) quantity discounts C) functional discounts D) seasonal discounts E) trade-in allowances

When is a pull strategy appropriate? A) when there is low brand loyalty B) when consumers are able to perceive differences between brands C) when brand choice is made in the store D) when it is a low involvement purchase E) when the product is an impulse item

When museums charge a lower admission fee to students and senior citizens, this form of pricing is known as ________. A) perceived value pricing B) third-degree price discrimination C) first-degree price discrimination D) second-degree price discrimination E) psychological discounting

When sellers agree to provide free maintenance and repair services for a specified period of time at a specified contract price, they are offering ________. A) a complementary service B) payment equity C) a service blueprint D) differential pricing E) an extended warranty

When supermarkets and department stores drop the price on well-known brands to stimulate store traffic, they are said to be following ________ pricing. A) value B) loss-leader C) special event D) high-low E) everyday low

When the total market expands, the market ________ usually gains the most. A) challenger B) leader C) follower D) nicher E) entrant

Which marketing channel is associated with the highest value added per sale? A) retail stores B) sales force C) distributors D) Internet E) telemarketing

Which method for establishing the total marketing communications budget sets communication budgets to achieve the same amount of share-of-voice as competitors? A) comparative-parity method B) objective-and-task method C) affordable method D) competitive-parity method E) percentage-of-sales method

Which of the following activities is a reverse-flow channel of marketing? A) raw materials movement B) product recycling C) materials ordering D) finished goods storage E) customer order placement

Which of the following ads depict a transformational appeal? A) Thompson Water Seal can withstand intense rain, snow, and heat B) DIRECTV offers better HD options than cable or other satellite operators C) NBA phenomenon LeBron James pitching McDonald's D) Pringles slogan, "Once You Pop, the Fun Don't Stop" E) Aleve's message that it offers the longest-lasting pain relief

Which of the following are tangible goods that normally survive many uses? A) generic goods B) durable goods C) core benefits D) convenience goods E) unsought goods

Which of the following benefits is offered by sales promotion tools? A) Sales promotion tools are more authentic and credible to buyers than advertising. B) Sales promotion tools can reach prospects who prefer to avoid mass media. C) Sales promotion tools are typically an indirect form of "soft-sell," so customers welcome them. D) Sales promotion tools provide an incentive that gives value to the consumer. E) Sales promotion tools allow buyers personal choices and encourage them to respond directly.

Which of the following best describes BR Chicken's value proposition? A) We sell chicken at most major malls. B) We undertake home delivery services. C) We target quality-conscious consumers of chicken. D) We sell tender golden chicken at a moderate price. E) We charge a 10 percent premium on our chicken.

Which of the following best describes a car company's value proposition? A) We charge a 20 percent premium on our cars. B) We target safety-conscious upscale families. C) We sell the safest, most durable wagon. D) We are the market leader in the small car category. E) We focus on expanding in faster-growing markets.

Which of the following channel conflict resolution techniques is used only if everything else proves ineffective? A) legal recourse B) mediation C) arbitration D) co-option E) superordinate goals

Which of the following channel functions constitute only a backward flow? A) movement of physical goods B) placing orders with suppliers C) persuasive communication D) storage of physical goods E) overseeing actual transfer of ownership

Which of the following consumer promotion tools involves using one brand to advertise another noncompeting brand? A) tie-in promotion B) frequency programs C) specialty advertising D) cross-promotion E) patronage awards

Which of the following criteria relates to the company having the internal resources and commitment to feasibly and profitably create and maintain the brand association in the minds of consumers? A) differentiability B) peculiarity C) desirability D) believability E) deliverability

Which of the following elements of the marketing communications mix consists of a collection of incentive tools, mostly short-term, designed to stimulate quicker or greater purchase of particular products or services by consumers, or the trade? A) advertising B) public relations C) sales promotion D) events and experiences E) personal selling

Which of the following elements of the marketing communications mix includes a variety of programs directed internally to employees of the company or externally to consumers, other firms, the government, and media to promote or protect a company's image or its individual product communications? A) direct marketing B) public relations and publicity C) personal selling D) advertising E) sales promotion

Which of the following elements of the marketing communications mix refers to any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor via print, broadcast, network, electronic, and display media? A) advertising B) personal selling C) sales promotion D) direct marketing E) public relations

Which of the following factors forms the basis of assessing sponsorship activities through supply-side methods? A) consumers' brand knowledge B) impact on sponsor's bottom line C) extent of media coverage D) brand exposure reported by consumers E) sales pattern of sponsored products

Which of the following factors found in the macromodel of the communications process refers to random and competing messages that may interfere with the intended communication? A) negative feedback B) noise C) attenuation D) phase lag E) selective distortion

Which of the following functions of public relations departments involves presenting news and information about the organization in the most positive light? A) corporate communications B) product publicity C) lobbying D) counseling E) press relations

Which of the following is NOT a standard that producers would use to evaluate intermediaries' performance? A) sales-quota attainment B) average inventory levels C) modification of channel design D) customer delivery time E) cooperation in promotional programs

Which of the following is NOT a weakness of a customer equity perspective (relative to a brand equity perspective)? A) It offers limited guidance for go-to-market strategies. B) It has quantifiable measures of financial performance. C) It ignores the advantages of creating a strong brand. D) It overlooks the option value of brands. E) It does not fully account for social network effects or word-of-mouth.

Which of the following is NOT one of the four important contributions an effectively trained company sales force can make to consumer marketing? A) remind end-consumers about the product B) increase stock position C) build enthusiasm D) conduct missionary selling E) manage key accounts

Which of the following is TRUE for distributor brands? A) They sell at higher volumes than national brands and are also known as generics. B) They are usually sold at higher prices than national brands because production costs are higher. C) They are always of better quality than national brands as production is strictly monitored. D) They can generate a higher profit margin because of their lower cost structure. E) Advertising costs for distributor brands are much higher than those for national brands.

Which of the following is TRUE for the retail industry? A) Retailers are experimenting with "pop-up" stores that let them create buzz. B) Upscale retailers see a decline in sales as middle-market retailers thrive. C) Fast fashion is offering more choice and longer-lived products. D) Technology use by stores is driving up the cost of inventory. E) Discount stores are not doing as well as middle-market retailers.

Which of the following is TRUE of brokers? A) Brokers represent buyers or sellers on a permanent basis. B) Most brokers are hired by sellers and work for a salary. C) Brokers bring buyers and sellers together and assist in negotiation. D) Selling brokers have contractual authority to sell a manufacturer's entire output. E) Brokers assume title and risk from the time an order is accepted to its delivery.

Which of the following is TRUE regarding price elasticity? A) The higher the elasticity, the lesser the volume growth resulting from a one-percent price reduction. B) Long-run and short-run price elasticity may differ, delaying the impact of a price change. C) If demand is elastic, sellers assume that lowering the price will decrease total revenue. D) Price elasticity does not depend on magnitude and direction of the contemplated price change. E) When demand is inelastic, sellers should lower prices in order to increase total revenue.

Which of the following is a characteristic of a service? A) The service is essentially tangible. B) The service does not result in the ownership of anything. C) The service's production is tied to a physical product. D) Services are typically produced and consumed at different times. E) A client's presence is not required for rendering a service.

Which of the following is a disadvantage of using Yellow Pages as an advertising medium? A) high competition B) poor local market coverage C) low believability D) lack of adequate reach E) high total costs

Which of the following is a disadvantage of using a percentage-of-sales method to determine the marketing communications budget? A) It assumes competitors know better than the company's own planners. B) It results in high communication expenditures irrespective of what the company can afford. C) It is overly focused on the relationship among communication cost, selling price, and profit per unit. D) It treats sales as what determines communication, rather than as the result of effective communication. E) It is too focused on long-range planning.

Which of the following is a disadvantage of using direct mail as an advertising medium? A) low audience selectivity B) lack of flexibility C) high competition within same medium D) relatively high cost E) lack of personalization of advertising message

Which of the following is a disadvantage of using magazines as an advertising medium? A) low geographic and demographic selectivity B) long ad purchase lead time C) low-quality reproduction D) small "pass-along" readership E) lack of credibility

Which of the following is a disadvantage of using television as an advertising medium? A) high absolute cost B) low audience attention C) lack of reach among audience D) high audience selectivity E) absence of clutter

Which of the following is a medium of visual identity for a company? A) annual reports B) dress codes C) press releases D) seminars E) trade shows

Which of the following is a possible trap of a price-cutting strategy? A) Low prices usually achieve increases in both market share and market loyalty when customers switch. B) The company might need additional business because it has excess plant capacity. C) The company can initiate price cuts to dominate the market through lower costs. D) Consumers might not demand price concessions in the future. E) Competitors that match low prices might have longer staying power because of deep cash reserves.

Which of the following is a postpurchase service offered by retailers? A) accepting orders over the telephone B) advertising and window displays C) delivery to the customer's doorstep D) general information E) interior decoration of the retail outlet

Which of the following is a prepurchase service offered by retailers? A) accepting orders over the telephone B) shipping the product C) delivery to the customer's doorstep D) general information E) interior decoration of the retail outlet

Which of the following is a purpose of product mapping? A) studying market matrices B) integrating target markets C) identifying market segments D) educating consumers E) integrating target matrices

Which of the following is a sales promotion tool that typically does NOT build brand image? A) consumer refund offers B) free samples C) premiums related to the product D) frequency awards E) coupons that include a selling message

Which of the following is an advantage of using newspapers as an advertising medium? A) long lifespan B) high reproduction quality C) huge "pass-along" audience D) high level of targeting E) good local market coverage

Which of the following is an advantage of using radio as an advertising medium? A) higher attention than television B) standardized rate structures C) long duration of ad exposure D) high quality reproduction E) high geographic selectivity

Which of the following is an ancillary service offered by retailers? A) accepting orders over the telephone B) advertising and window displays C) delivery to the customer's doorstep D) general information E) alterations and tailoring

Which of the following is an example of a brick-and-click company? A) IFB Industries, a company that sells products using various channels such as Internet, retailers, direct outlets, and franchisees B) Opera, a Web browser and Internet suite developed by Opera Software, performs common tasks such as displaying Web sites and sending and receiving e-mail messages. C) Atrutron, a company that offers its customers access to the Internet using data transmission technology D) eBay Inc., an American company, facilitates online auctions and shopping to people and businesses across the globe to buy and sell a broad variety of goods and services. E) Yahoo! Inc., an American corporation, provides services via the Internet such as directories, e-mail, news, advertising, online mapping, and so on.

Which of the following is an example of a gap between management perception and the service-quality specifications? A) The college brochure showed state-of-the-art classrooms, but when the visitors walked in, they saw peeling walls and dull lighting. B) A nurse visits a patient to show care, but the patient interprets this as an indication that something is very wrong. C) The hotel administrators think that guests want better food, but guests are more concerned with the courtesy of the waiters. D) A service center manager has asked his subordinates to provide fast service, but has not specified a time for the service to be performed. E) Customer service representatives are asked to give ample time to each customer, but must serve a minimum of 50 customers a day.

Which of the following is an example of a gap between service delivery and external communications? A) The employees at GBL have been asked to take time to listen to customers, but they must serve them fast as well. B) Amanda chose to shop at Alison's Fashions because the store's website offered on-the-spot alterations. However, when she did buy a dress, she had to wait a week to get it altered. C) Customers at LUX appreciate the personalized services the salespeople offer, but do not like the store design. D) Clearwater Spa attendants are well trained in massage therapy and the services they offer, but customers rarely return because they don't like the attendants' impersonal service. E) When sales dropped, Styx modernized its stores in order to retain customers, but didn't realize that the product quality was the main problem.

Which of the following is an example of a limited-service retailer? A) Customers at TAB pick out the products they want and pay at the checkout counter. B) Salespeople at Eli are always on hand to offer shoppers advice and assistance in choosing products. C) Mina's allows customers to check out their own purchases in order to reduce the staff count. D) CLO's offers a number of merchandise-return privileges, customers need information and assistance while shopping. E) Alison's stocks a number of specialty products and the store's salespeople generally help shoppers with all their needs.

Which of the following is an example of a personal selling communication platform? A) sales presentations B) company blogs C) telemarketing D) TV shopping E) press kits

Which of the following is an example of a public relations and publicity communication platform? A) lobbying B) company museums C) street activities D) company blogs E) incentive programs

Which of the following is an example of a pure service? A) air travel B) psychotherapy C) baby oil D) a laptop E) a restaurant meal

Which of the following is an example of a trade promotion? A) free samples B) discount coupons C) display allowances D) contests for sales reps E) premiums

Which of the following is an example of a word-of-mouth marketing communication platform? A) chat rooms B) billboards C) factory tours D) incentive programs E) trade shows

Which of the following is an example of a zero-level channel? A) A manufacturer takes online orders from customers and ships the products to them. B) An organization uses a combination of direct salespeople and sales agencies to increase sales. C) A manufacturer sells its products through wholesalers and retailers. D) A manufacturer sells its products through chains of supermarkets and other large sellers. E) A large company forms alliances with smaller companies to increase sales coverage.

Which of the following is an example of retailing? A) Dylan's sends catalogs to retail, industrial, and institutional customers. B) SEZ U Inc. sells a limited line of fast-moving goods to small retailers for cash. C) BEL Inc. sells consumer packaged goods to merchant wholesalers and distributors. D) Praxis International sells products to consumers directly through the Internet. E) Hub Styles procures its raw materials directly from farmers in the region.

Which of the following is most closely related with the organic growth of an organization? A) acquiring a product or service brand B) entering new market places C) increasing the operational profitability D) increasing productivity of employees E) developing new products from within

Which of the following is most likely to be a valid reason for initiating a price increase? A) anticipated cost inflation B) excess plant capacity C) a drive to dominate the market D) a low-cost strategy E) a market share objective

Which of the following is the correct order of stages that a buyer is assumed to pass through, by the four classic response hierarchy models? A) cognitive stage-affective stage-behavioral stage B) affective stage-cognitive stage-behavioral stage C) behavioral stage-affective stage-cognitive stage D) cognitive stage-behavioral stage-affective stage E) affective stage-behavioral stage-cognitive stage

Which of the following is the first step in setting a pricing policy? A) selecting a pricing method B) selecting the pricing objective C) determining demand D) estimating cost E) analyzing competitors' costs, prices, and offers

Which of the following is the most accurate description of a value network? A) a system of partnerships and alliances that a firm creates to source, augment, and deliver its offerings B) a system of organizations and resources involved in moving a product from supplier to customer C) an arrangement whereby an organization transforms inputs into finished goods D) a network that allows an organization to take the finished products to the end-users E) a communication network that allows an organization to transfer information to end-customers

Which of the following is the most complete and accurate description of a pure-click company? A) These are companies that launch a Web site without any previous existence as a firm. B) These firms' business models are based on advertising revenue. C) These are established companies that have an online site for selling products. D) These companies get paid every time a user visits their Web site. E) These companies sell online space to other Web sites and are paid for the service.

Which of the following is the most constructive response a market leader can make when defending its market share? A) maintain basic cost control B) innovate continuously C) provide desired benefits D) meet challengers with a swift response E) provide expected benefits

Which of the following is the most elementary pricing method? A) value pricing B) going-rate pricing C) markup pricing D) target-return pricing E) perceived-value pricing

Which of the following questions is answered during the business analysis of ideas? A) Does the product meet a need? B) Do we have a technically and commercially sound product? C) Can we find a cost-effective, affordable marketing strategy? D) Can this product meet sales expectations? E) Can we find a good concept consumers say they would try?

Which of the following statements about brand mantras is TRUE? A) They guide only major decisions; they have no influence on mundane decisions. B) Their influence does not extend beyond tactical concerns. C) They must economically communicate what the brand is and avoid communicating what it is not. D) They can provide guidance about what ad campaigns to run and where and how to sell the brand. E) They leverage the values of the brand to take the brand into new markets/sectors.

Which of the following statements about the branding guidelines for a small business is TRUE? A) A small business must creatively conduct low-cost marketing research. B) A small business must avoid leveraging secondary brand associations. C) A small business must separate the well-integrated brand elements to enhance both brand awareness and brand image. D) A small business must disintegrate the brand elements to maximize the contribution of each of the three main sets of brand equity drivers. E) A small business must focus on building more than two strong brands based on a number of associations.

Which of the following statements correctly reflects a characteristic of public relations as a marketing communications tool? A) Public relations can reach prospects who prefer to avoid mass media and targeted promotions. B) They incorporate an incentive that gives value to the consumer. C) Given their live, real-time quality, public relations tools are actively engaging for consumers. D) Public relations communications can be prepared to appeal to the addressed individual. E) Public relations tools create an immediate, interactive episode between two or more persons.

Which of the following statements is TRUE of the factors that affect an advertising budget? A) High-market-share brands usually require proportionately high advertising expenditure as a percentage of sales to maintain share. B) Brands in less-differentiated or commodity-like product classes require less advertising to establish a unique image. C) New products typically merit large advertising budgets to build awareness and to gain consumer trial. D) In a market with few competitors and moderate advertising spending, a brand must advertise more heavily to be heard. E) Established brands usually are supported with high advertising budgets, measured as a ratio to sales.

Which of the following tools or combinations of tools is most influential at the comprehension stage of buyer readiness? A) sales promotion and advertising B) advertising and personal selling C) publicity and personal selling D) reminder advertising and publicity E) sales promotion and personal selling

Which of the following types of advertising timing patterns calls for spending all advertising dollars in a single period? A) frequency capping B) flighting C) concentration D) pulsing E) continuity

Which of the following types of distribution involves severely limiting the number of channel intermediaries? A) exclusive B) selective C) intensive D) aggressive E) retail

Which of the following wholesaler functions reduces inventory costs and risks to suppliers and customers? A) selling and promoting B) warehousing C) transportation D) market information E) assortment building

Which of the following will help a service provider overcome the limits imposed by the inseparability of services? A) using differential pricing B) working with larger customer groups C) providing complementary services D) concentrating on physical evidence and presentation E) standardizing the service process

Which of the following would NOT be a consumer's reference price? A) the advertised price per month B) the actual future price C) a price the consumer remembers D) a posted "regular retail price" E) the manufacturer's suggested price

Winstar is a large-scale manufacturer with more than a hundred partners across the globe. When making decisions concerning distribution and channel optimization, the company invites members from its channel partners to be part of its advisory committee. This helps the company maintain harmony with its partners. Which of the following conflict resolution techniques is Winstar using? A) diplomatic counselling B) mediation C) arbitration D) co-optation E) joint membership

With respect to powerful brand elements, ________ is an extremely efficient means to build brand equity. This element functions as a useful "hook" to help consumers grasp what the brand is and what makes it special. A) the tangibility of a product B) a product's shape C) a slogan D) a patent E) a copyright

With respect to the "six brand building blocks," brand ________ describes the relationship customers have with the brand and the extent to which they feel they're "in sync" with it. A) imagery B) judgment C) resonance D) salience E) performance

With respect to the brand building pyramid, at which of the following "building block levels" would we expect the consumer to develop an intense, active loyalty? A) salience B) imagery C) feelings D) judgments E) resonance

XM Consulting collects information on various industrial products. When faced with buying decisions, businesses can visit XM's website to purchase detailed information on the various options available to them. XM Consulting can be called a(n) ________. A) infomediary B) market maker C) customer community D) third party arbitrator E) informant

________ advertising aims to create brand awareness and knowledge of new products or new features of existing products. A) Informative B) Corporate C) Reinforcement D) Persuasive E) Reminder

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