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    A Variety of Marketing-Related Multiple Choice Questions

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    Markets are similar to products with respect to life-cycle concepts. All of the following are considered to be stages that markets pass through in market evolution EXCEPT ________.

    a. emergence
    b. destruction
    c. growth
    d. decline

    _______ measures a product's handling costs from the time the product reaches the warehouse until a customer buys it in the retail store.

    Brand management
    Shelf management
    Direct Product Performance
    Direct Product Profitability

    Most products are established at one of four performance levels: low, average, high or superior. For example, mountain bikes come in a variety of sizes and physical attributes. When a consumer purchases a mountain bike costing $1,000 she/he expects the bike to perform to specifications and to have a high ________ meeting the promised specifications.

    An alternative formulation to customer equity is provided by Blattberg, Getz, and Thomas. They view customer equity as being driven by three components: acquisition, ________, and add-on selling.

    a. satisfaction
    b. retention
    c. quality
    d. pricing

    By adding more channels, companies can gain three important benefits. First, they can increase their market coverage, second, they can lower channel costs by moving to a lower cost channel, and third they can provide ________.

    a. effective dollar costs/sale
    b. increased volume of sales
    c. more customized selling
    d. increased exposure

    Your product enjoys high brand loyalty and high involvement in the category. Your product has perceived differences that consumers recognize between brands. Your product is one of the few that its consumers choose before selecting the retail store/Web site to purchase the product. Which promotion strategy would hold the greatest opportunity for incremental sales for your product based upon the consumer criteria above?

    a. Hybrid
    b. Branding
    c. Pull
    d. Push

    Companies that practice ________ are implementing a total market orientation and are likely to be the most successful.

    reactive market orientation
    proactive marketing orientation
    both reactive and proactive marketing orientation
    "invent and market"

    A customer's decision to be loyal or to defect is the sum of many small encounters with the company. Consulting firm Forum Corporation says that in order for all these small encounters to add up to customer loyalty, companies need to create ________.

    a reward program
    a branded customer experience
    strong word-of-mouth promotions
    a top-notch advertising campaign

    ____________is the set of measures that helps quantify, compare, and interpret marketing performance.

    sales analysis
    customer performance scorecard
    performance dashboard
    marketing metrics

    ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.

    Customer retention
    Performance
    Quality
    Value

    A ________ strategy involves the manufacturer using its sales force and trade promotion money to induce intermediaries to carry, promote, and sell the product to end users.
    Answer

    push
    pull
    promote
    none of the above

    The formula for the break-even calculation is ________.

    fixed costs/(variable costs - price)
    (price - variable costs)/fixed costs
    fixed costs/(price - variable costs)
    fixed costs/unit sales

    When McDonald's used mystery shoppers to assess stores' internal speed standards, McDonald's was using which of the following steps to improve its marketing intelligence system?

    A company can train and motivate the sales force to spot and report new developments.
    A company can network externally.
    A company can motivate distributors, retailers, and other intermediaries to pass along important intelligence.
    A company can take advantage of government data sources.

    Marketers must be concerned with transportation decisions. Transportation choices will affect product ________, on-time delivery performance, and the conditions of the goods when they arrive, all of which affects customer satisfaction.

    transferability
    usage
    pricing
    none of the above

    One of the don'ts of questionnaire construction is to ensure that fixed responses do not overlap. Which of the following is the best illustration of a problem that this "don't" might cause?

    A consumer must describe a cartoon about buying a car.
    An income question asks for an income designation in one of the following income categories: $0-$20,000, $20,000-$40,000, or $40,000 and above.
    A consumer is asked whether or not he or she could spy on another consumer's shopping experience.
    A consumer is asked to describe a recent event will driving.

    ________ can be defined as the differential effect that brand knowledge has on consumer response to the marketing of that brand.

    Consumer-based brand equity
    Function-based brand equity
    Service-driven brand equity
    Mission-driven brand equity

    Customers must see any competitive advantage as a ________ advantage for it to be effective.

    product
    customer
    personal
    service

    Consumer reference prices includes all of the following EXCEPT:

    "fair price"
    product price
    last price paid
    typical price

    Sony's former president, Akio Morita, wanted everyone to have access to "personal portable sound," so his company created the Walkman and portable CD player. Which of the following planning aids most likely assisted Mr. Morita with his vision?

    The mission statement.
    A SWOT analysis.
    A database.
    Knowledge of customers.

    If a marketing manager employs such marketing techniques as online buzz, student ambassadors, cool events, and street teams to reach target markets, the manager is most likely appealing to the ________ market.

    pre-school
    Generation Y
    Generation Z
    Generation X

    The ________ is the rate at which the buyer forgets the brand.

    purchase frequency
    designated rate
    purge rate
    forgetting rate

    One of the benefits of interactive marketing is that it is highly accountable and its ________ can be easily traced.

    buyers
    sales
    effects
    costs

    ________ requires that everyone in the organization buy into the concepts and goals of marketing and engage in choosing, providing, and communicating customer value.

    Integrated marketing communications
    Sales department
    Internal marketing
    External relations

    All of the following are considered to be advantages of online research EXCEPT ________.

    online research is inexpensive
    online research is prone to technological problems and inconsistencies
    online research is more versatile
    online research is faster

    Three pillars that point to the brand's future value, rather than just reflecting its past, are differentiation, energy and relevance. Differentiation, energy and relevance combine to determine what is called Energized Brand ________.

    Strength
    Knowledge
    Depth
    Position

    Many countries have ________ industries to create greater competition and growth opportunities.

    open-market
    deregulated
    regulated
    scientifically segmented

    According to "The Law of the Few", three types of people help to spread an idea like an epidemic. They include connectors, salesmen, and ___________.

    gossips
    influencers
    news people
    mavens

    During which step of the segmentation process would the marketer group customers into segments based on similar needs and benefits sought by the customer in solving a particular consumption problem?

    Step 1: needs-based segmentation
    Step 3: segment attractiveness
    Step 2: segment identification
    Step 7: marketing-mix strategy

    With regards to product-line pricing, companies normally develop product lines rather than single products and introduce price steps. The seller's task is to establish ________ quality differences between these price steps.

    monetary
    actual
    imaginary
    perceived

    A conventional marketing channel comprises an ________, wholesaler(s), and retailer(s) each acting in his own self-interest.

    independent producer
    brokers
    merchant wholesalers
    manufacturing representatives

    Marketing is not a department so much as a ________.

    philosophy
    company orientation
    branch of economics
    function

    Once the target market is defined, the marketer needs to obtain specific names. The company's best prospects are customers who have bought in the past. Additional names can be obtained by purchasing a list of names. The better lists include overlays of ________ and ________ information

    a. demographic/attitudes
    b. demographic/psychographic
    c. financial/buying groups
    d. demographic/financial

    The majority of sales representatives require encouragement and special incentives. To increase motivation, marketers reinforce intrinsic and ________ rewards of all types.

    personal
    extrinsic
    financial
    external

    According to the illustrations describing the product life cycle, during which stage of the cycle is there a strong likelihood that negative profits will be the norm?

    Introduction
    Growth
    Maturity
    Decline

    ________ communicates to the market the company's intended value positioning of its product or brand.

    Physical evidence
    Place
    Promotion
    Price

    In which of the following dimensions of holistic marketing might we find the focus on the marketing mix tools?

    Integrated marketing
    Internal marketing
    Relationship marketing
    Socially Responsive marketing

    If a marketing researcher selects the most accessible population members, he or she would have selected the ________ sampling method.

    simple random
    cluster
    stratified random
    convenience

    ________ is a comprehensive systematic, independent, and periodic examination of a company's or business unit's marketing environment, objectives, strategies, and activities with a view to determining problem areas and opportunities and recommending a plan of action to improve the company's marketing performance.

    Marketing audit
    Marketing plan
    Marketing management
    Marketing metrics

    ________ can be defined as the ability to alter channel members' behavior so that they take actions they would not have taken otherwise.

    Marketing
    Channel power
    Channel relationships
    Channel concerns

    From a branding perspective, "green marketing" programs have not been entirely successful. ________ has been cited as one of the obstacles that must be overcome for "green marketing" programs to be more successful.

    Inferior quality
    High cost
    Poor promotions
    Resistance by the youth segment in the marketplace

    The three major considerations in price setting includes, costs set as the "floor," ________, and customers' assessment of unique features establishing the price ceiling.

    competitors' prices and the price of substitutes provide an orientation point
    competitors' prices establishes a "target price" goal
    the price of substitutes establishes a "target price"
    none of the above

    When Coca-Cola sold only one kind of Coke in a 6.5-ounce bottle, it was practicing what is called ________.

    National populations vary in their age mix. At one extreme is _________ a country with a very young population and rapid population growth.

    Japan
    Russia
    Mexico
    China

    A brand manager is concerned that his organization's brand image and physical sales are slipping in the marketplace. The manager has decided to query consumers about the health of the brand and try to discover ways to leverage the brand's equity. Which of the following terms will most likely provide the structure and process for the manager's investigation?

    A brand demographic matrix analysis.
    A brand positioning study.
    A brand audit.
    An organizational audit.

    A high market penetration index suggests that ________.

    the price of the product or service is too high with respect to competition
    it would be great time to expand distribution outlets
    there will be increased costs of attracting the few remaining prospects
    mistakes have been made in selecting the correct promotional alternatives

    Which of the following terms matches to the phrase "it is a single business or collection of related businesses that can be planned separately from the rest of the company"?

    Niche market unit.
    Strategic business unit.
    Diverse business unit.
    Growth business unit.

    One of the reasons new products fail is ________.

    competitors who fight back hard
    poor packaging
    lack of marketing expertise
    government regulations

    If a buyer is loyal to two or three different brands of soap, this buyer's loyalty status can be described as being among the ________.

    switchers
    shifting loyals
    split loyals
    hard-core loyals

    Which of the following is by far the most popular American leisure activity in that it is preferred by 35 percent of adults who participate in such activities?

    Gardening.
    Reading.
    Swimming.
    Walking.

    Traditional brick-and-mortar retailers are responding to the growth of e-commerce by providing and emphasizing a ________ as a strong differentiator to stay at home shopping.

    celebrities on premises
    shopping experience
    expert advice in selecting
    wider selection of merchandise

    © BrainMass Inc. brainmass.com October 10, 2019, 2:30 am ad1c9bdddf
    https://brainmass.com/business/the-product-lifecycle/variety-marketing-related-multiple-choice-questions-380231

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    Solution Summary

    The following posting helps answer a wide variety of marketing-related multiple choice questions. The concepts covered include product lifestyle, customer demographics, and purchase incentives.

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