Question 1. Describe some products whose adoption rates have been affected by complexity, compatibility, relative advantage, observability, and/or trialability.
Question 2. A local supermarket would like to introduce their own brand of paper goods (e.g., paper towels, facial tissue, etc.) to sell alongside their current inventory. The company has hired you to generate a brief report outlining the advantages and disadvantages of doing so. Write the report.
Question 3. Discuss the concept of supply chain integration. How does it result in better customer-related outcomes?
Question 4. At what stage in a product's life cycle are pioneering, competitive, and comparative advertising most likely to occur? Give a current example of each type.
Question 5. You are a new salesperson for a well-known medical software company, and one of your clients is a large group of physicians. You have just arranged an initial meeting with the office manager. Develop a list of questions you will ask at this meeting to uncover the group's specific needs.
Question 6. Have you ever paid a price penalty? How did it affect your attitude toward that company?
Question 7. A good is a type of product that can be touched, tasted, seen, or heard by a customer. Another type of product is a service, which cannot be sensed. Identify the sentence that best describes a service:
A service is impervious
A service is intangible
A service is synergistic
A service is perishable
Question 8. This describes the basis for the consumer product classification system:
how the market is segmented
the way the products are manufactured
effort level to acquire the product
the physical attributes of the product
Question 9. A product is considered a (n) _____ when a potential consumer perceives that it will make life easier, whether the product is new or cost effective:
innovation
diffusion
discontinuous product
laggard
Question 10. A service quality component that can be touched, tasted, seen, or heard by a customer is called:
Reliability
Responsiveness
Tangibles
Empathy
Question 11. A paper company produces cardboard boxes for companies in the food processing industry. This paper company is selling what type of products?
specialty
consumer
business
convenience
Question 12. A legal phrase that determines who the owner is that has exclusive rights to a brand name or a component part of a brand is what?
trademark
patent
brand
private brand
Question 13. ______ is employed as a strategy that capitalizes on technology in order to distribute customized services in large scale.
Mass standardization
Aggregated service
Technological processing
Mass customization
Question 14. Identify the correct answer that involves placing at least two or more brand names on a product package:
Family branding
Private branding
Dual-code branding
Co-branding
Question 15. A new trend in retailing is called m-commerce. Identify what the "m" in m-commerce means:
Motivated
Multimedia
Mobile
Managed
Question 16. The focus of service distribution is to:
maximize customer satisfaction and provide quality service
develop relationships, meet the needs of the consumer and improve service delivery
minimize wait times, manage service capacity, and improve service delivery
maximize efficiency, maximize effectiveness, and increase satisfaction
Question 17. Choose the best answer that describes an established relationship between two channel members within a marketing channel:
Strategic channel alliances
Relationship channels
Reverse channels
Multiple distribution systems
Question 18. ______ is a type of business configuration of mutually dependent organizations that stems from producer to the consumer.
Facilitating agency or place member
Marketing mix intermediary
Selective distribution channel
Marketing channel or channel of distribution
Question 19. When making plans for distributing specialty products, a company will likely ensure that the products are:
distributed to only a few stores in the geographic area
made available in a large number of stores in a geographic area
made available only through the mail
distributed to a considerable number of stores in a geographic area
Question 20. ______ refers to a marketing intermediary within a marketing channel that possesses the product and controls the terms of a sale.
Complete control
Exclusive distribution
Taking title
Contact efficiency
Question 21. The activities related to selling products to the end consumer for the purpose of consumption or resale:
Wholesaling
Retailing
Business
Franchising
Question 22. Identify the party typically responsible for creating a brand name, a product idea, establishing operational guidelines, and grants permission for another entity to sell its product:
The franchisee
The lessor
The franchisor
The entrepreneur
Question 23. This type of promotion targets consumers so they remain familiar with a product brand name and is typically used at some point in the maturity stage of the product life cycle:
Reminder
Amusement
Informative
Persuasive
Question 24. Defined as any form of sponsor-identified, impersonal paid mass communication:
Advertising
Publicity
Promotion
Public relations
Question 25. Describes the type of advertising that promotes the benefits of a particular good or service:
Selective advertising
Cooperative advertising
Product advertising
Image advertising
Question 26. A type of sales tactic focused on developing, maintaining, and improving associations with consumers for the purpose of constructing mutually favorable partnerships:
Networking
Adaptive selling
Stimulus-response selling
Relationship selling
Question 27. Describes a four-step process that results in the achievement of promotional objectives:
The communication model
Schramm's model
The AIDA concept
Maslow's hierarchy of needs
Question 28. Identify the promotional function that assesses the attitude of the public, prepares a company for interfacing with the public, and implements an action plan to build public awareness is referred to as:
public relations
advertising
implicit communications
personal selling
Question 29. Describes an organization-wide business strategy employed to generate increased revenues, to optimize profitability, and improve customer satisfaction by honing in on a well defined target market:
Organizational optimization
Consumer relationship marketing (CRM)
Total quality management (TQM)
Customer relationship management (CRM)
Question 30. As one of the primary purposes of marketing, a(n) ______ is defined as a set of distinctive features and benefits an organization develops that are perceived by the target market of a product offering. as being of higher quality and/or importance than the offering of a competitor.
comparative differentiation
competitive advantage
marketing mix
special benefit
Question 31. This is the general price at which a company would sell a product after understanding the ethical, legal, and marketing consequences of a pricing strategy:
Functional price
Base price
Demand price
Price leader
Question 32. The result of revenue minus expenses is called:
return on investment
An asset
profit
net worth
Question 33. Describes consumer reactions or sensitivity due to price variations in price:
break-even
equilibrium
unitary revenue
elasticity of demand
Question 34. The cost of purchasing a product from a manufacturer, plus expected profits and expenses previously unaccounted for is called:
Margin pricing
Keystoning
Mark-on adding
Formula doubling
Question 35. When an organization launches a new product into the marketplace at a reasonably low price because it aspires to arrive at mass market volume of sales within a year's time; it is employing what type of strategy? The reasonably low price is intended to capture a sizeable share of a large market and generate lower manufacturing costs.
penetration pricing
price-insensitive demand
price skimming
price elasticity
Question 36. Describes a price that is determined by adding expected profits and expenses not previously accounted for, to the cost of a product:
profit maximization
demand-oriented
markup
target return
Question 37. A pricing objective known as ______ is used by a company that wants to set prices for the purpose of increasing total revenue while maintaining or lowering costs.
profit maximization
market share pricing
demand-oriented pricing
sales maximization
Question 38. The volume of a product for sale in the marketplace at different prices for a specific time period is called:
market share
demand
supply
value
revenue