Question 1

In addition to calculating the potential profitability of a market segment, marketers will also consider what?

Accepted Answer

customer loyalty, defection rates, the cost of replacing customers, likely future sales to customers.

Question 2

Airlines were among the first retailers to embrace loyalty segmentation when they created what?

Accepted Answer

frequent flyer programs.

Question 3

Toothpastes sold in supermarkets and pharmacies promise various results, such as whiter teeth, protection against gum disease, tartar control, or fresh breath. Toothpaste marketers are using __________ segmentation.

Accepted Answer

benefit

Question 4

Firms might use multiple segmentation methods to ?

Accepted Answer

tailor communications, design products, determine the substance of the marketing message

Question 5

NASCAR redirected its marketing efforts when a survey indicated that almost 50 percent of race fans were female. This is an example of __________ segmentation.

Accepted Answer

demographic

Question 6

Four frequently used targeting strategies are the micromarketing, undifferentiated, differentiated, and __________ targeting strategies.

Accepted Answer

concentrated

Question 7

Many companies use the Internet to allow consumers to design customized products; for example, Nike allows customers to order shoes with custom color combinations. This is a form of what?

Accepted Answer

micromarketing.

Question 8

Adidas Group owns Reebok, Rockport, and Greg Norman brands. Adidas uses the different brands to pursue a(n) __________ strategy.

Accepted Answer

differentiated targeting

Question 9

Alex has found that both commercial and residential real estate buyers respond positively to his marketing communication message. Alex has identified __________ that respond similarly to his marketing efforts.

Accepted Answer

market segments

Question 10

Segmentation, targeting, and positioning

Accepted Answer

are part of a firm\'s marketing strategy.

Question 11

When entering a foreign market, the least risky strategy

Accepted Answer

exporting

Question 12

Which of the following is NOT one of Hofstede\'s cultural dimensions?

Accepted Answer

Certainty assurance

Question 13

Which of the following are the major trade agreements affecting global marketing?

Accepted Answer

ASEAN, CAFTA, NAFTA, EU

Question 14

Exchange controls refers to the regulation of a country\'s .....?

Accepted Answer

currency exchange rate

Question 15

Tariffs protect domestic producers by what?

Accepted Answer

making imported products more expensive.

Question 16

When considering global marketing opportunities in Bangladesh, Tom asked the question, \"How will we get it there?\" Tom is concerned about __________ capabilities in Bangladesh

Accepted Answer

infrastructure

Question 17

The Big Mac Index is a novel measure of what?

Accepted Answer

purchasing power parity

Question 18

The most common measure of market potential of an economy is a country\'s what?

Accepted Answer

GDP

Question 19

To determine the market potential for its particular product or service, a firm should use ?

Accepted Answer

as many measures as it can obtain

Question 20

Globalization refers to the process by which goods, services, capital, people, and ideas that......

Accepted Answer

flow across national borders

Question 21

Which of the following is NOT one of the roles typically played by one of the members of a buying center?

Accepted Answer

Auctioneer

Question 22

While consumers weigh postpurchase dissonance, business buyers.......?

Accepted Answer

conduct vendor analysis

Question 23

During the RFP stage, B2B buyers.......?

Accepted Answer

invite suppliers to bid on supplying what is requested

Question 24

After need recognition, a business develops __________ that suppliers might use to develop their proposals.

Accepted Answer

product specifications

Question 25

The first stage of the B2B buying process is what?

Accepted Answer

need recognition

Question 26

Marketing research includes all of the following:

Accepted Answer

recording data, interpreting data, analyzing data, collecting data.

Question 27

After a year in business, Tyrone hired a market research company to analyze his sales data and tell him which groups of customers were the most profitable to his firm. Tyrone will probably use the results of this research to?

Accepted Answer

define market segments, adjust positioning strategies, change product offerings,adjust prices.

Question 28

Retail checkout scanning systems create a tremendous amount of purchasing information usually stored in a company\'s what?

Accepted Answer

data warehouse

Question 29

From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about?

Accepted Answer

preserving their right to privacy

Question 30

Academic researchers often jump at the opportunity to conduct a research study, curious to learn more and address unanswered questions for the sake of general knowledge. Business people tend to be more cautious before embarking on a marketing research study, recognizing that research is often what?

Accepted Answer

expensive and time consuming

Question 31

Market research begins with what?

Accepted Answer

defining objectives and research needs

Question 32

Company sales invoices, census data, and trade association statistics are examples of what?

Accepted Answer

secondary data

Question 33

The major advantage of primary data collection is that what?

Accepted Answer

it can be tailored to meet the specific research needs

Question 34

The major disadvantages of primary data collection are that what?

Accepted Answer

it takes more time to collect than secondary data and is more costly

Question 35

A(n) __________ is a small group of people brought together for an intensive discussion of a topic.

Accepted Answer

focus group

Question 36

A product is __________ that can be offered through a voluntary marketing exchange.

Accepted Answer

anything of value to consumers

Question 37

A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products.

Accepted Answer

product line

Question 38

A __________ is a name, symbol, design, or term that identifies a seller\'s good or service as distinct from those of other sellers.

Accepted Answer

brand

Question 39

A firm\'s product mix breadth is its what?

Accepted Answer

number of product lines

Question 40

__________ is the number of items within a product line.

Accepted Answer

Product line depth

Question 41

For many years, General Electric had a corporate strategy of being among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation.

Accepted Answer

decreasing product mix breadth

Question 42

One important purpose of a brand is to what?

Accepted Answer

increase consumer recognition and awareness of product offerings.

Question 43

Brands are assets that can be legally protected through what?

Accepted Answer

copyrights and trademarks

Question 44

__________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service.

Accepted Answer

Brand equity

Question 45

A personal digital assistant programmed with key customers\' birthdates, wine preferences, and food allergies is a(n) __________ tool.

Accepted Answer

CRM

Question 46

Which of the following is NOT one of the benefits to a firm of new product development?

Accepted Answer

Reduced costs of production.

Question 47

Even if they succeed, new-to-the-world products are what?

Accepted Answer

not adopted by everyone at the same time.

Question 48

The process by which the use of a new product or service spreads throughout a market group is referred to as what?

Accepted Answer

diffusion of innovation

Question 49

Which of the following is NOT one of the five groups in the diffusion of innovation curve?

Accepted Answer

Non-adopters

Question 50

The ________________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them.

Accepted Answer

early majority

Question 51

The _________________ diffusion of innovation group is the last large group of consumers to adopt a new product or service.

Accepted Answer

late majority

Question 52

Samples are often used for new products when _________________ will influence the diffusion of the product.

Accepted Answer

trialability

Question 53

___________________ involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitor\'s patents.

Accepted Answer

Reverse engineering

Question 54

Before the development of computer-assisted design software, many firms handcrafted ______, wooden or clay models that served as rough physical representations of the new product.

Accepted Answer

prototypes

Question 55

Before Segway manufactured their two-wheeled people movers, they built a prototype and had staff engineers test it for performance and stability. At this stage, Segway was involved in what?

Accepted Answer

alpha testing

Question 56

A service is any intangible offering that involves a deed, performance, or effort that what?

Accepted Answer

cannot be physically possessed

Question 57

Many product dominant firms use quality service

Accepted Answer

to maintain a sustainable competitive advantage

Question 58

Along the service-product continuum, which of the following would be considered the most service dominant?

Accepted Answer

doctor\'s office

Question 59

Along the service-product continuum, which of the following would be considered the most product dominant?

Accepted Answer

grocery store

Question 60

Medical services, assisted living care, and active senior travel are all examples of what?

Accepted Answer

services an aging population will increase their demand for

Question 61

The marketing of services differs from product marketing because services are all of these EXCEPT what?

Accepted Answer

renewable

Question 62

When marketers state that services are __________, they are referring to the fact that services are produced and consumed at the same time.

Accepted Answer

inseparable

Question 63

When marketers state that services are __________, they are referring to the fact that services cannot be stored for use in the future.

Accepted Answer

perishable

Question 64

Because services like cruises and car rentals are perishable, many marketers use what?

Accepted Answer

pricing strategies to match supply with demand.

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