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Page 8. If a company uses a marketing concept and market-oriented philosophy, consumer dissatisfaction would first result in:
a.
Increased marketing expenditures
b.
Modified sales presentations
c.
Changed advertising campaigns
d.
Revised pricing structures
e.
Consumer analysis and strategy and/or product revisions
Page 15. In 1990, Encyclopedia Britannica earned more than $40 million after taxes. Just four years later, after three consecutive years of losses,
the sales force had collapsed. Britannica managers saw that competitors were beginning to use CD-ROM to store huge masses of information, use
less space, and reduce costs, but they chose to ignore the new computer technology. If Britannica had defined its business as providing
information instead of publishing books, it might not have suffered such a precipitous fall. Encyclopedia Britannica failed to:
a.
define their mission in terms of the benefits its customers seek
b.
ignore the marketing concept of serving customer needs and wants
c.
realize that "customers only want what they know"
d.
to have a sales orientation
e.
empower the consumer
Page 34. By defining its business as "making movies" instead of "entertainment," a Hollywood movie studio was engaging in:
a.
Market segmentation
b.
Product differentiation
c.
Market development
d.
Strategic planning
e.
Narrow business definition
Page 38. Bentley automobiles are extremely expensive and are designed to appeal to consumers who equate value and quality with price. The
manufacturer of Bentley automobiles has created a(n) _____ competitive advantage.
a.
value-enhanced
b.
mass-marketing
c.
functional
d.
niche
e.
social class-oriented
Page 44. Vlasic Foods International analyzed its business in Swanson frozen dinner pot pies and found it had a small market share in a market
that was stagnant. The recommended strategic option is to:
a.
cultivate
b.
reap
c.
hold
d.
divest
e.
build
a.
b.
c.
d.
e.
Page 64. Your firm is planning to develop a product, service, or idea that would combat the poverty of time problem. Which of the
following ideas would best help target this problem?
the creation of a supermall, containing millions of square feet of shopping space and hundreds of stores from which customers can
shop
exotic foreign shopping excursions
computerized shopping services
do-it-yourself garden equipment
cooking-from-scratch classes
Page 112. The lowest risk for a company that decides to enter global marketing would be found in a structure involving:
a.
exporting
b.
licensing
c.
contract manufacturing
d.
joint ventures
e.
direct investment
Page 122. Goodyear provided China with materials and training for a printing plant in exchange for finished labels. This is an example of a(n):
a.
exchange control
b.
price control
c.
tariff
d.
countertrade
e.
joint venture
Page 150. Marketing managers often use in-store promotions to stimulate sales of:
a.
technical products
b.
high-involvement products
c.
high-priced products
d.
industrial products
e.
low-involvement products
Page 200. The set of all persons in an organization who become involved in the purchasing process is called the:
a.
buying center
b.
purchasing department
c.
purchase agent
d.
decision board
e.
controller's office
Page 215. To be useful, a segmentation scheme must produce segments that meet four basic criteria:
a.
Segmentable, targetable, noncannibalistic, and ballistic
b.
Materiality, ethical responsibility, causality, and accessibility
c.
Substantiality, identifiability and measurability, accessibility, and responsiveness
d.
Undifferentiated, unpositioned, unpopulated, and underutilized
e.
Largest in size, profit potential, growth potential, and few competitors
Page 222. Kraft Foods plans to tailor different ads for different neighborhoods in the same region. For example, viewers watching a cable show in
a Hispanic neighborhood in Chicago would see different ads during the same commercial breaks as young, affluent professionals living in a
different neighborhood. This represents which of the following type of segmentation?
a.
motivation data
b.
lifestyle data
c.
geoVALS data
d.
geodemographics data
e.
VALS data
Page 233. When Procter & Gamble introduced Liquid Tide to a new segment, consumers in the traditional powdered detergent segment switched
to the liquid product. Rather than real sales growth, P&G simply experienced the shifting of existing customers to a new product. This exemplifies
a drawback of multisegment targeting strategy called:
a.
Repositioning
b.
perceptual mapping
c.
Undifferentiation
d.
Cannibalization
e.
perceptual confusion
Page 56. The primary objectives in the Ford case were
a.
Purchase the Jaguar and Volvo brands
b.
Reach women and ten-year olds
c.
Cut prices and boost distribution
d.
Raise market share and sales revenue
e.
All of the above are correct
Page 242. The LaBelle case showed
a.
Segmentation based on time
b.
Segmentation based on household composition
c.
Segmentation based on taste
d.
Segmentation based on age
e.
All of the above are correct