240977731 marketing management quiz bank (1)

8/10/2019 240977731 Marketing Management Quiz Bank (1)

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A Framework for Marketing Management, 5e (Kotler)

Chapter 1 Defining Marketing for the 21st Century

1) hi!h of the following statements a"out marketing is true#

A) $t is of little importan!e when pro%u!ts are stan%ar%i&e%'

) $t !an help !reate o"s in the e!onomy "y in!reasing %eman% for goo%s an% ser*i!es'C) $t helps to "uil% a loyal !ustomer "ase "ut has no impa!t on a firm+s intangi"le assets'

D) $t is more important for "igger organi&ations than smaller ones'

) $t is sel%om use% "y nonprofit organi&ations'Answer-

.age /ef- 2

0"e!ti*e- 1

Diffi!ulty- asy

2) goo%s !onstitute the "ulk of most !ountries+ pro%u!tion an% marketing efforts'

A) Dura"le

) $mpulseC) .hysi!al

D) u3ury) $ntangi"le

Answer- C

.age /ef- 40"e!ti*e- 2

Diffi!ulty- asy

4) Car rental firms, hair %ressers, an% management !onsultants pro*i%e 'A) goo%s

) e3perien!esC) e*entsD) ser*i!es

) information

Answer- D.age /ef- 4

0"e!ti*e- 2

AAC- Analyti! kills

Diffi!ulty- asy

1

Copyright 6 2712 .earson %u!ation, $n!' .u"lishing as .renti!e 8all



=) are "asi! human re>uirements, while are the ways in whi!h those

re>uirements are satisfie%'

A) ants? nee%s) Deman%s? wants

C) @ee%s? wants

D) @ee%s? %eman%s) Deman%s? nee%s

Answer- C


Diffi!ulty- asy

) hen Frank "uys his own house, he woul% like to ha*e a home theater system an% a a!u&&i'8e plans to sa*e enough money in the ne3t three years so that he !an fulfill his wish' Frank+s

%esire for the home theater an% the a!u&&i is an e3ample of a(n) '

A) nee%

) wantC) %eman%

D) unstate% nee%) latent %eman%

Answer-


AAC- Analyti! kills

Diffi!ulty- Mo%erate

B) hen !ompanies measure the num"er of people who are willing an% a"le to "uy their

pro%u!ts, they are measuring 'A) %eman%

) pri!e elasti!ity

C) real nee%sD) stan%ar% of li*ing

) %isposa"le in!ome

Answer- A



4




17) A(n) nee% is one that the !onsumer is relu!tant or unwilling to e3pli!itly *er"ali&e'

A) se!on%ary

) unstate%C) %elight

D) se!ret

) state%Answer- D

.age /ef- <

0"e!ti*e- 4Diffi!ulty- Mo%erate

11) A(n) nee% is a nee% that the !onsumer e3pli!itly *er"ali&es'

A) state%) affirmati*e

C) unsought

D) %elight

) se!retAnswer- A



12) Companies a%%ress nee%s "y putting forth a , a set of "enefits that they offer to

!ustomers to satisfy their nee%s'

A) "ran%

) *alue propositionC) %eal

D) marketing plan

) %eman%Answer-

.age /ef- <


14) During market segmentation analysis, the marketer i%entifies whi!h segments present thegreatest opportunity' :hese segments are !alle% '

A) target markets

) !apital marketsC) tertiary markets

D) %emographi! markets

) %e*eloping marketsAnswer- A

.age /ef- <

0"e!ti*e- 4


9




19) ________ refle!ts a !ustomer+s u%gment of a pro%u!t+s performan!e in relation to his or her

e3pe!tations'

A) ran% e>uity) atisfa!tion

C) alue

D) .er!eption) ran% image

Answer-

.age /ef- <0"e!ti*e- 4

Diffi!ulty- asy

15) :he *alue of an offering is %es!ri"e% as 'A) the pri!e !onsumers are !harge% for a pro%u!t

) the !ost of manufa!turing a pro%u!t

C) the %egree to whi!h !onsumer %eman% for a pro%u!t is positi*e

D) the sum of the tangi"le an% intangi"le "enefits an% !osts to !ustomers) the intangi"le "enefits gaine% from a pro%u!t

Answer- D.age /ef- <

0"e!ti*e- 4


1<) hen ol*o runs a%s suggesting that its !ars are the safest that money !an "uy, it is trying to

'

A) segment the market) pro*i%e a ser*i!e

C) enter into a new market

D) %e*elop "ran% loyalty) position its pro%u!t

Answer-


AAC- Analyti! kills


1=) $f a marketer uses warehouses, transportation !ompanies, "anks, an% insuran!e !ompanies to

fa!ilitate transa!tions with potential "uyers, the marketer is using a 'A) ser*i!e !hannel

) %istri"ution !hannel

C) !ommuni!ation !hannelD) relationship !hannel

) stan%ar%i&e% !hannel

Answer- A



5




1) :he is the !hannel stret!hing from raw materials to !omponents to final pro%u!ts

that are !arrie% to final "uyers'

A) !ommuni!ation !hannel) %istri"ution !hannel

C) supply !hain

D) ser*i!e !hain) marketing !hain

Answer- C

.age /ef- =0"e!ti*e- 4

Diffi!ulty- asy

1B) :he a!tual an% potential ri*al offerings an% su"stitutes that a "uyer might !onsi%er arereferre% to as the '

A) supply !hain

) glo"al market

C) *alue propositionD) !ompetition

) marketing en*ironmentAnswer- D

.age /ef- =

0"e!ti*e- 4Diffi!ulty- asy

27) :he in!lu%es the a!tors in*ol*e% in pro%u!ing, %istri"uting, an% promoting an

offering' :he main a!tors are the !ompany, suppliers, %istri"utors, %ealers, an% the target!ustomers'

A) e!onomi! en*ironment

) management en*ironmentC) strategi! en*ironment

D) task en*ironment

) ta!ti!al en*ironmentAnswer- D

.age /ef- =

0"e!ti*e- 4

AAC- Analyti! killsDiffi!ulty- Mo%erate

<




21) $n an attempt to !reate greater !ompetition an% growth opportunities, !ountries often

'

A) in!rease tra%e "arriers) prote!t in%ustries

C) %eregulate in%ustries

D) en!ourage interme%iation) re%u!e pri*ati&ation

Answer- C


AAC- Multi!ultural an% %i*ersity un%erstan%ing


22) /ising promotion !osts an% shrinking profit margins are the result of '

A) new an% impro*e% te!hnology

) %isinterme%iation

C) in%ustry !on*ergen!eD) pri*ati&ation

) heightene% !ompetitionAnswer-

.age /ef-


24) $n%ustry "oun%aries are "lurring rapi%ly as !ompanies i%entify new opportunities at the

interse!tion of two or more in%ustries' :his is !alle% 'A) glo"ali&ation

) !ustomi&ation

C) in%ustry !on*ergen!eD) %isinterme%iation

) pri*ati&ation

Answer- C.age /ef-

0"e!ti*e- 9

Diffi!ulty- asy

29) :he su!!ess of online pur!hasing resulte% in in the %eli*ery of pro%u!ts an%

ser*i!es "y inter*ening in the tra%itional flow of goo%s through %istri"ution !hannels'

A) %isinterme%iation) %i*ersifi!ation

C) re%u!e% !ompetition

D) %eregulation) pri*ati&ation

Answer- A

.age /ef-


=




25) $n response to threats from su!h !ompanies as A0, Ama&on'!om, Eahoo, eay,

G:/AD, an% %o&ens of others, esta"lishe% manufa!turers an% retailers "e!ame ;"ri!kan%

!li!k; oriente% "y a%%ing online ser*i!es to their e3isting offerings' :his pro!ess is known as '

A) reinterme%iation

) %isinterme%iationC) retail transformation

D) e!olla"oration

) newmarket syn!hroni&ationAnswer- A

.age /ef-

0"e!ti*e- 9


2<) hen eay an% Ama&on'!om !ut out the maority of mi%%lemen that normally woul%

parti!ipate in the e3!hange pro!ess, it is an e3ample of '

A) %eregulation) re*erse au!tioning

C) reinterme%iationD) %isinterme%iation

) %i*ersifi!ation

Answer- D.age /ef-

0"e!ti*e- 9

AAC- Hse of information te!hnology


2=) Disinterme%iation *ia the $nternet has resulte% in '

A) higher pri!es) stronger "ran% loyalty

C) greater emphasis on personal selling

D) wellesta"lishe% "ran% names) greater !onsumer "uying power

Answer-

.age /ef-

0"e!ti*e- 9AAC- Hse of information te!hnology





2) a!h of the following is true a"out the $nternet+s impa!t on the way "usiness is !on%u!te%

to%ay, IC.: one' $%entify the e3!eption'

A) $t has fa!ilitate% highspee% !ommuni!ation among employees') $t has empowere% !onsumers with easy a!!ess to information'

C) $t !an "e use% as a powerful sales !hannel'

D) $t has fa!ilitate% mass marketing "ut not the sale of !ustomi&e% pro%u!ts') $t ena"les marketers to use so!ial me%ia to a%*ertise their pro%u!ts'

Answer- D


AAC- Hse of information te!hnology

Diffi!ulty- asy

2B) Kotler an% Casoline suggeste% eight fa!tors that marketers must keep in min% in or%er to %eal

with risk an% un!ertainty' hi!h of the following statements are they most likely to agree withwhen the en*ironment is un!ertain#

A) Companies shoul% "e prepare% to implement a% ho! strategies whene*er re>uire%'

) Companies shoul% push aggressi*ely for the market share of their !ompetitors'C) Companies shoul% fo!us less on their !ore segments, an% more on new target markets'

D) Companies shoul% not in!rease marketing "u%gets in times of un!ertainty'

) Companies shoul% fo!us an% impro*e their marginal "ran%s'

Answer- .age /ef- B

0"e!ti*e- 9


47) hat are !ustomer tou!h points#

A) all aspe!ts of the offering that %ire!tly affe!t !onsumer preferen!es) all nee%s an% wants of !ustomers

C) all %ire!t or in%ire!t intera!tions "etween the !ustomer an% the !ompany

D) all intera!tions "etween !ustomers an% !ompetitors) all fa!tors that affe!t "uying "eha*ior

Answer- C

.age /ef- 9


B




41) hi!h of the following hol%s that !onsumers prefer pro%u!ts that are wi%ely a*aila"le an%

ine3pensi*e#

A) the pro%u!t !on!ept) the pro%u!tion !on!ept

C) the selling !on!ept

D) the performan!e !on!ept) the marketing !on!ept

Answer-

.age /ef- B0"e!ti*e- 9


42) :he !on!ept hol%s that !onsumers will fa*or offerings with the "est >uality, performan!e, or inno*ati*e features'

A) pro%u!t

) marketing

C) pro%u!tionD) selling

) holisti! marketingAnswer- A

.age /ef- B


44) hi!h of the following !ategories of goo%s an% ser*i!es is most likely to re>uire anaggressi*e use of the selling !on!ept#

A) shopping goo%s

) unsought goo%sC) ne!essary goo%s

D) lu3ury goo%s

) !omplementary goo%sAnswer-

.age /ef- B

0"e!ti*e- 9


17




49) As a maor steel manufa!turer, teelMakers $n!' fo!uses on ha*ing the most effi!ient

manufa!turing pro!esses in pla!e' :he !ompany "elie*es that its !ompetiti*e e%ge lies in its

a"ility to offer the "est pri!es' :hey also maintain an e3!ellent %istri"ution network that ensureswi%e a*aila"ility of their pro%u!ts' teelMakers has a '

A) selling orientation

) pro%u!tion orientationC) pro%u!t orientation

D) marketing orientation

) so!ial orientationAnswer-

.age /ef- B

0"e!ti*e- 9


45) e"ma3 $n!' pro%u!e% an% markete% !ameras' After !onsi%era"le resear!h an% %e*elopment,

they %e*elope% a new %igital !amera that ha% an array of new features' e"ma3 was so surea"out the new offering that they e*en re%u!e% their marketing "u%get' hat sort of orientation

%oes e"ma3 ha*e towar% the marketpla!e#A) pro%u!tion orientation

) pro%u!t orientation

C) selling orientationD) marketing orientation

) holisti! marketing orientation

Answer-


AAC- Analyti! kills


4<) /i!k Johnson trains his !ompany+s sales for!e to go after the !onsumer' 8e repeate%ly askshis team to "ear in min% the essential fa!t that it is the sales team+s responsi"ility to rouse the

!onsumer+s interest an% make him feel that he nee%s the pro%u!t' A true salesman is one who !an

!on*ert an in%ifferent !onsumer walking into the store into a new !ustomer' Johnson "elie*es in

the !on!ept'A) pro%u!t

) pro%u!tion

C) sellingD) marketing

) so!ial responsi"ility

Answer- C.age /ef- B

0"e!ti*e- 9

AAC- Analyti! kills


11




4=) Marketers at Johnny $n!' "elie*e in putting their !ustomers ahea% of e*erything else' :heir

pro%u!ts are !arefully %esigne% to meet !ustomer re>uirements an% the entire fo!us is on

a!hie*ing !ustomer satisfa!tion' Johnny $n!' follows the !on!ept in %oing "usiness'A) pro%u!tion

) pro%u!t

C) sellingD) marketing

) so!ial responsi"ility

Answer- D.age /ef- 17

0"e!ti*e- 9

AAC- Analyti! kills


4) :he !on!ept hol%s that !onsumers an% "usinesses, if left alone, will or%inarily not

"uy enough of the organi&ation+s pro%u!ts'

A) pro%u!tion) selling

C) marketingD) pro%u!t

) holisti! marketing

Answer- .age /ef- B

0"e!ti*e- 9

Diffi!ulty- asy

4B) :he marketing !on!ept hol%s that '

A) a firm shoul% fin% the right pro%u!ts for its !ustomers, an% not the right !ustomers for its

pro%u!ts) !ustomers who are !oa3e% into "uying a pro%u!t will most likely "uy it again

C) a new pro%u!t will not "e su!!essful unless it is pri!e%, %istri"ute%, an% sol% properly

D) !onsumers an% "usinesses, if left alone, won+t "uy enough of the organi&ation+s pro%u!ts) a "etter pro%u!t will "y itself lea% people to "uy it without mu!h effort from the sellers

Answer- A

.age /ef- 17


12




97) is "ase% on the %e*elopment, %esign, an% implementation of marketing programs,

pro!esses, an% a!ti*ities that re!ogni&e their "rea%th an% inter%epen%en!ies'

A) @i!he marketing) 8olisti! marketing

C) /elationship marketing

D) upply !hain marketing) Deman%!entere% marketing

Answer-

.age /ef- 170"e!ti*e- 9

AAC- /efle!ti*e :hinking


91) hat are the four "roa% !omponents of holisti! marketing#

A) relationship, internal, position, an% performan!e marketing

) integrate%, internal, position, an% performan!e marketing

C) relationship, integrate%, internal, an% performan!e marketingD) integrate%, relationship, so!ial responsi"ility, an% position marketing

) relationship, so!ial responsi"ility, internal, an% performan!e marketingAnswer- C

.age /ef- 17


92) marketing aims to "uil% mutually satisfying longterm !olla"oration with key

!onstituents, su!h as !ustomers, employees, suppliers, %istri"utors, an% other marketing partners,in or%er to earn an% retain their "usiness'

A) $ntegrate%

) Deman%"ase%C) Dire!t

D) /elationship

) $nternalAnswer- D

.age /ef- 11

0"e!ti*e- 9

Diffi!ulty- asy

14




94) :he ultimate out!ome of relationship marketing is a uni>ue !ompany asset !alle% the

, !onsisting of the !ompany an% its supporting stakehol%ers'

A) "ran%) supply !hain

C) marketing network

D) *alue proposition) ser*i!e !hannel

Answer- C

.age /ef- 110"e!ti*e- 9


99) hi!h of the following is most !onsistent with the integrate% marketing approa!h#

A) A goo% pro%u!t will sell itself'

) $f left alone, !onsumers are in!line% to pur!hase only ine3pensi*e pro%u!ts'C) All !ommuni!ation to !onsumers must %eli*er a !onsistent message irrespe!ti*e of the

me%ium'

D) $n or%er to su!!ee%, the main fo!us shoul% "e on ha*ing an effi!ient pro%u!tion pro!ess in pla!e'

) 0nline marketing is less important than tra%itional marketing efforts'

Answer- C

.age /ef- 110"e!ti*e- 9


95) hi!h aspe!t of holisti! marketing moti*ates employees an% ensures that e*eryone in the

organi&ation em"ra!es appropriate marketing prin!iples, espe!ially senior management#

A) relationship marketing) integrate% marketing

C) internal marketing

D) network marketing) performan!e marketing

Answer- C

.age /ef- 11

0"e!ti*e- 9AAC- Analyti! kills


19




9<) Finan!ial a!!ounta"ility an% so!ial responsi"ility marketing are elements of '

A) performan!e marketing

) relationship marketingC) internal marketing

D) so!ial marketing

) mass marketingAnswer- A

.age /ef- 12


9=) Companies are re!ogni&ing that mu!h of their market *alue !omes from ,

parti!ularly their "ran%s, !ustomer "ase, employees, %istri"utor an% supplier relations, an%intelle!tual !apital'

A) *aria"le assets

) *alue propositions

C) intangi"le assetsD) market offerings

) in%ustry !on*ergen!eAnswer- C

.age /ef- 12

0"e!ti*e- 9AAC- /efle!ti*e :hinking

Diffi!ulty- asy

9) :he hol%s that the organi&ation+s task is to %etermine the nee%s, wants, an%

interests of target markets an% to %eli*er the %esire% satisfa!tions more effe!ti*ely an% effi!iently

than !ompetitors in a way that preser*es or enhan!es the !onsumer+s an% the so!iety+s well"eing'A) selling !on!ept

) integrate% marketing !on!ept

C) so!ial responsi"ility marketing !on!eptD) pro%u!tion !on!ept

) relationship marketing !on!ept

Answer- C

.age /ef- 120"e!ti*e- 9

AAC- Analyti! kills

Diffi!ulty- asy

15




9B) Joanna owns a !hain of fastfoo% oints' As the !hain "e!ame more an% more su!!essful, she

%e!i%e% to !ontri"ute a share of her profits ea!h year to support !an!er resear!h' :his is an

e3ample of 'A) !orporate !ommunity in*ol*ement

) en*ironmental marketing

C) !auserelate% marketingD) "enefit marketing

) responsi"le marketing

Answer- C.age /ef- 14

0"e!ti*e- 9

AAC- Analyti! kills


57) M!Carthy !lassifie% marketing a!ti*ities into the four .s of the marketing mi3' :hese four .s

stan% for '

A) pro%u!t, positioning, pla!e, an% pri!e) pro%u!t, pro%u!tion, pri!e, an% pla!e

C) promotion, pla!e, positioning, an% pri!eD) pla!e, promotion, pro%u!tion, an% positioning

) pro%u!t, pri!e, promotion, an% pla!e

Answer- .age /ef- 14

0"e!ti*e- 9

Diffi!ulty- asy

51) $n!orporating the holisti! *iew of marketing, the four .s of the marketing mi3 !an "e

up%ate% to '

A) pro%u!t, positioning, people, an% pri!e) people, pro!esses, pla!e, an% promotion

C) pro%u!t, pro!esses, pri!e, an% people

D) people, pro!esses, programs, an% performan!e) pro%u!t, pri!e, promotion, an% people

Answer- D

.age /ef- 14

0"e!ti*e- 9AAC- Multi!ultural an% %i*ersity un%erstan%ing


1<




52) hi!h of the following refle!ts the ;people; !omponent of the marketing mi3#

A) the !reati*ity, %is!ipline, an% stru!ture "rought to marketing management

) the %e*elopment of new pro%u!ts "y the marketersC) the firm+s !onsumer%ire!te% a!ti*ities

D) the right set of pro!esses to gui%e a!ti*ities an% programs within the firm

) the internal marketing of the firmAnswer-

.age /ef- 19

0"e!ti*e- 9AAC- /efle!ti*e :hinking


54) hi!h of the four new .s en!ompasses the ol% four .s as well as a range of other marketinga!ti*ities that might not fit well into the ol% *iew of marketing#

A) programs

) pro!esses

C) promotionD) people

) performan!eAnswer- A

.age /ef- 19


59) At the heart of any marketing program is the firm+s , its tangi"le offering to the

market'A) strategy

) pro%u!t

C) "ran%D) *alue

) people

Answer- .age /ef- 19

0"e!ti*e- 5

Diffi!ulty- asy

55) a!ti*ities in!lu%e those the !ompany un%ertakes to make the pro%u!t a!!essi"le

an% a*aila"le to target !ustomers'

A) ine e3tension) egmentation

C) Marketing resear!h

D) Channel) @ewpro%u!t %e*elopment

Answer- D

.age /ef- 15


1=




5<) A short %efinition of marketing is ;meeting nee%s profita"ly';

Answer- :/H


AAC- Analyti! kills

Diffi!ulty- asy

5=) :he H'' e!onomy to%ay !onsists of a =747 ser*i!estogoo%s mi3'

Answer- :/H.age /ef- 4

0"e!ti*e- 2


5) .roperties are tangi"le rights of ownership to either real property (real estate) or finan!ial

property (sto!ks an% "on%s)'

Answer- FA


Diffi!ulty- asy

5B) ;Frien%s Don+t et Frien%s Dri*e Drunk,; is an e3ample of marketing information to an

intereste% au%ien!e'Answer- FA

.age /ef- 9

0"e!ti*e- 2

AAC- /efle!ti*e :hinkingDiffi!ulty- Mo%erate

<7) hops an% stores ha*e a physi!al e3isten!e an% as su!h are e3amples of marketspa!e'Answer- FA

.age /ef- 9


Diffi!ulty- asy

<1) ants are "asi! human re>uirements, su!h as foo% an% shelter'Answer- FA

.age /ef- 5


<2) Deman%s are wants for spe!ifi! pro%u!ts "a!ke% "y an a"ility to pay'Answer- :/H

.age /ef- 5

0"e!ti*e- 4

AAC- Analyti! killsDiffi!ulty- asy

1




<4) :he !ustomer *alue tria% !onsists of a !om"ination of >uality, %ura"ility, an% pri!e'

Answer- FA


AAC- Analyti! kills


<9) A %istri"ution !hannel in!lu%es %istri"utors, wholesalers, retailers, an% agents that %isplay,sell, or %eli*er the physi!al pro%u!t or ser*i!e(s) to the "uyer or user'

Answer- :/H

.age /ef- <


<5) :he task en*ironment of a firm !onsists of %emographi!, e!onomi!, natural, an%te!hnologi!al en*ironments, as well as the politi!allegal system an% the so!ial!ultural arena'

Answer- FA


AAC- Analyti! kills


<<) /egulation of in%ustries has !reate% greater !ompetition an% growth opportunities "e!ause

the playing fiel% has "een le*ele%'

Answer- FA.age /ef- =

0"e!ti*e- 9

AAC- /efle!ti*e :hinkingDiffi!ulty- asy

<=) Companies !an fa!ilitate an% spee% e3ternal !ommuni!ation among !ustomers "y !reatingonline an% offline ;"u&&; through "ran% a%*o!ates an% user !ommunities'

Answer- :/H

.age /ef-


<) :he selling !on!ept hol%s that !onsumers will fa*or those pro%u!ts that offer the most>uality, performan!e, or inno*ati*e features'

Answer- FA


AAC- Analyti! kills


1B




<B) /elationship marketing aims to "uil% mutually satisfying longterm relationships with key

parties'


0"e!ti*e- 9

Diffi!ulty- asy

=7) 0ne of the key themes of integrate% marketing is that there are *ery few marketing a!ti*ities

that !an effe!ti*ely !ommuni!ate an% %eli*er *alue'Answer- FA

.age /ef- 11

0"e!ti*e- 9

AAC- /efle!ti*e :hinkingDiffi!ulty- Mo%erate

=1) .roponents of holisti! marketing !onsi%er internal marketing to "e as important as marketing

to !onsumers'


0"e!ti*e- 9

AAC- /efle!ti*e :hinking


=2) $ntegrate% marketing is the task of hiring, training, an% moti*ating a"le employees who want

to ser*e !ustomers well'Answer- FA

.age /ef- 11


=4) .erforman!e marketing in*ol*es re*iewing metri!s assessing market share, !ustomer lossrate, !ustomer satisfa!tion, an% pro%u!t >uality in the e*aluation of the effe!ti*eness of

marketing a!ti*ities'

Answer- :/H

.age /ef- 120"e!ti*e- 9


=9) Causerelate% marketing in*ol*es %onating a per!entage of re*enues to a spe!ifi! !ause

"ase% on the re*enue o!!urring %uring the announ!e% perio% of support'


0"e!ti*e- 9

AAC- Analyti! kills


27




=5) Making gifts of money, goo%s, or time to help nonprofit organi&ations, groups, or in%i*i%uals

is known as !orporate philanthropy'


0"e!ti*e- 9

Diffi!ulty- asy

=<) Marketers are in*ol*e% in marketing 17 types of entities' ist an% "riefly !hara!teri&e these

entities'Answer- :he types of entities that are markete% are (1) goo%sphysi!al goo%s, (2) ser*i!es

hotels an% !ar rental ser*i!es, (4) e*entstime"ase% e*ents su!h as tra%e shows, (9)

e3perien!esalt Disney+s Magi! King%om, (5) persons!ele"rity marketing, (<) pla!es!ities,

states, regions, an% e*en whole nations, (=) propertiesintangi"le rights of ownership of eitherreal property or finan!ial property, () organi&ations!orporate i%entity, (B) information

information pro%u!e% an% markete% as a pro%u!t, an% (17) i%easmarketing the "asi! i%ea of a

market offering'

.age /ef- 490"e!ti*e- 2


==) A!!or%ing to tar"u!ks Chairman 8owar% !hult&, ;Consumers now !ommonly engage in a!ultural au%it of Lpro%u!t an% ser*i!e pro*i%ers' .eople want to know your *alue an% ethi!s

%emonstrate% "y how you treat employees, the !ommunity in whi!h you operate'; Dis!uss the

!on!ept of so!ial responsi"ility marketing an% how it impa!ts "oth !ompanies an% !onsumers'Answer- :he so!ial responsi"ility marketing !on!ept hol%s that the organi&ation+s task is to

%etermine the nee%s, wants, an% interests of target markets an% to %eli*er the %esire% satisfa!tion

more effe!ti*ely an% effi!iently than !ompetitors in a way that preser*es or enhan!es the!onsumer+s an% so!iety+s longterm well"eing' Many !ompanies a!ti*ely engage% in !orporate

so!ial responsi"ility !ampaigns to "oth moti*ate employees an% attra!t !onsumers' As goo%s

"e!ome more !ommo%iti&e%, an% as !onsumers grow more so!ially !ons!ious, some !ompaniesare a%%ing so!ial responsi"ility as a way to %ifferentiate themsel*es from !ompetitors, "uil%

!onsumer preferen!e, an% a!hie*e nota"le sales an% profit gains' :hey "elie*e !ustomers will

in!reasingly look for signs of goo% !orporate !iti&enship'

.age /ef- 120"e!ti*e- 9

AAC- thi!al /easoning


21




=) $%entify an% %efine the tra%itional four .s' Also i%entify the new four .s an% the reason for

%e*eloping the new interpretation'

Answer- :he tra%itional four .s are- .ro%u!t (pro%u!t *ariety, >uality, %esign, features, "ran%name, pa!kaging, si&es, ser*i!es, warranties, returns), .ri!e (list pri!e, %is!ounts, allowan!es,

payment perio%, !re%it terms), .romotion (sales promotion, a%*ertising, sales for!e, pu"li!

relations, %ire!t marketing), an% .la!e (!hannels, !o*erage, assortments, lo!ations, in*entory,transportation)' 8owe*er, gi*en the "rea%th, !omple3ity, an% ri!hness of marketing, as

e3emplifie% "y holisti! marketing, these 9 .s are not the whole story any more' Hp%ating them to

refle!t the holisti! marketing !on!ept, resear!hers in this fiel% arri*e% at a more representati*e setthat en!ompasses mo%ern marketing realities- people, pro!esses, programs, an% performan!e'

.age /ef- 1214

0"e!ti*e- 9


=B) Dis!uss the !on!ept of %isinterme%iation an% pro*i%e an e3ample'

Answer- Disinterme%iation grew out of the rush to em"ra!e the %ot!oms an% e!ommer!e'ssentially, the %ot!oms remo*e% many of the tra%itional interme%iaries "y en!ouraging

!onsumers to %eal %ire!tly with the !ompany *ia the $nternet' ;ri!kan%!li!k; "usinessese*entually "rought some of the interme%iaries "a!k through a pro!ess !alle% reintermediation.

.age /ef-


Diffi!ulty- asy

7) Eou ha*e "een gi*en the assignment of ustifying !auserelate% marketing to your "oar% of

%ire!tors' hat woul% "e your primary argument in fa*or of su!h a proposal#

Answer- Companies see !auserelate% marketing as an opportunity to enhan!e their !orporatereputation, raise "ran% awareness, in!rease !ustomer loyalty, "uil% sales, an% in!rease press

!o*erage' :hey "elie*e !ustomers will in!reasingly look for signs of goo% !orporate !iti&enship

that go "eyon% supplying rational an% emotional "enefits' :his shoul% "e the main line ofargument in support of any !auserelate% marketing effort'

.age /ef- 1214

0"e!ti*e- 9


1' :he most formal %efinition of marketing is '

a' meeting nee%s profita"ly

"' i%entifying an% meeting human an% so!ial nee%s

22




!' the four .s (pro%u!t, pri!e, pla!e, promotion)

%' an organi&ational fun!tion an% a set of pro!esses for !reating, !ommuni!ating, an% %eli*ering

*alue to !ustomers an% for managing !ustomer relationships in ways that "enefit the organi&ation

an% its stakehol%ers

e' impro*ing the >uality of life for !onsumers

Answer- % .age- 5 Diffi!ulty- Me%ium

2' takes pla!e when at least one party to a potential e3!hange thinks a"out the means

of a!hie*ing %esire% responses from other parties'

a' Marketing management

"' Fore!asting

!' egmentation

%' :argeting

e' Distri"ution

Answer- a .age- 5 Diffi!ulty- Me%ium AAC- Communi!ation

24




4' Marketing management is '

a' managing the marketing pro!ess

"' monitoring the profita"ility of the !ompanyNs pro%u!ts an% ser*i!es

!' sele!ting target markets

%' %e*eloping marketing strategies to mo*e the !ompany forwar%

e' the art an% s!ien!e of !hoosing target markets an% getting, keeping, an% growing !ustomersthrough !reating, %eli*ering, an% !ommuni!ating superior !ustomer *alue

Answer- e .age- 5 Diffi!ulty- asy

9' A so!ial %efinition of marketing says '

a' effe!ti*e marketing re>uires !ompanies to remo*e interme%iary parties to a!hie*e a !loser!onne!tion with %ire!t !onsumers

29




"' a !ompany shoul% fo!us e3!lusi*ely on a!hie*ing high pro%u!tion effi!ien!y, low !osts, an%

mass %istri"ution to fa!ilitate the "roa%est possi"le a!!ess to the !ompanyNs pro%u!ts

!' marketing is a so!ietal pro!ess "y whi!h in%i*i%uals an% groups o"tain what they nee% an%

want through !reating, offering, an% freely e3!hanging pro%u!ts an% ser*i!es of *alue with others

%' marketing is the pro!ess of e3tra!ting ma3imal *alue from !onsumers to fa!ilitate !orporate

growth

e' marketing is the pro!ess of aggressi*e selling an% promotion to en!ourage the pur!hase of

pro%u!ts that might otherwise "e unsought "y the !onsumer

Answer- ! .age- 5 Diffi!ulty- Me%ium

5' goo%s !onstitute the "ulk of most !ountriesN pro%u!tion an% marketing efforts'

a' Dura"le

"' $mpulse

!' .hysi!al

%' er*i!e

e' *ent

25




Answer- ! .age- < Diffi!ulty- Me%ium

<' As e!onomies a%*an!e, a growing proportion of their a!ti*ities fo!uses on the pro%u!tion of

'

a' pro%u!ts

"' e*ents

!' e3perien!es

%' pla!es

e' ser*i!es

Answer- e .age- < Diffi!ulty- asy AAC- Analyti! kills

=' a!ti*ely work to "uil% a strong, fa*ora"le, an% uni>ue image in the min%s of theirtarget pu"li!s'

a' $nformation

2<




"' hopping goo%s

!' Dura"le goo%s

%' 0rgani&ations

e' .roperties

Answer- % .age- = Diffi!ulty- Me%ium AAC- Analyti! kills

' Charles /e*son of /e*lon o"ser*e%- O$n the fa!tory, we make !osmeti!s? in the store,

'P

a' we make profits

"' we !hallenge !ompetitors

!' we implement a%s

%' we sell hope

2=




e' we sell >uality

Answer- % .age- = Diffi!ulty- asy AAC- /efle!ti*e :hinking

B' A is someone seeking a response (attention, a pur!hase, a *ote, a %onation) from

another party, !alle% the '

a' salesperson? !ustomer

"' fun%raiser? !ontri"utor

!' politi!ian? *oter

%' marketer? prospe!t

e' !ele"rity? au%ien!e

Answer- % .age- = Diffi!ulty- 8ar% AAC- Analyti! kills

17' $n , !onsumers may share a strong nee% that !annot "e satisfie% "y an e3isting pro%u!t'

2




a' negati*e %eman%

"' latent %eman%

!' %e!lining %eman%

%' irregular %eman%

e' none3istent %eman%

Answer- " .age- Diffi!ulty- Me%ium

11' $n , more !ustomers woul% like to "uy the pro%u!t than !an "e satisfie%'

a' latent %eman%

"' irregular %eman%

!' o*erfull %eman%

%' e3!essi*e

e' negati*e %eman%

2B




Answer- ! .age- Diffi!ulty- Me%ium

12' $n , !onsumers %islike the pro%u!t an% may e*en pay a pri!e to a*oi% it'

a' none3istent %eman%

"' o*erfull %eman%

!' irregular %eman%

%' negati*e %eman%

e' %e!lining %eman%

Answer- % .age- Diffi!ulty- Me%ium

14' Marketers often use the term to !o*er *arious groupings of !ustomers'

a' people

47




"' "uying power

!' %emographi! segment

%' so!ial !lass position

e' market

Answer- e .age- B Diffi!ulty- 8ar% AAC- Analyti! kills

19' Companies selling mass !onsumer goo%s an% ser*i!es su!h as soft %rinks, !osmeti!s, airtra*el, an% athleti! shoes an% e>uipment spen% a great %eal of time trying to esta"lish a superior

"ran% image in markets !alle% '

a' "usiness markets

"' glo"al markets

!' !onsumer markets

%' nonprofit an% go*ernmental markets

e' ser*i!e markets

41




Answer- ! .age- B Diffi!ulty- Me%ium AAC- Analyti! kills

15' Mu!h of a "ran%Ns strength in !onsumer markets %epen%s on '

a' %e*eloping a superior pro%u!t

"' !reating superior pa!kaging

!' ensuring the pro%u!tNs a*aila"ility

%' "a!king the pro%u!t with engaging !ommuni!ations an% relia"le ser*i!e

e' all of the a"o*e

Answer- e .age- B Diffi!ulty- 8ar% AAC- Analyti! kills

1<' $n "usiness markets, a%*ertising !an play a role, "ut a stronger role may "e playe% "y the

sales for!e, , an% the !ompanyNs reputation for relia"ility an% >uality'

a' "ran% image

"' %istri"ution

42




!' promotion

%' pri!e

e' performan!e

Answer- % .ages- B17 Diffi!ulty- 8ar% AAC- Communi!ation

1=' Qlo"al marketers must %e!i%e '

a' whi!h !ountries to enter

"' how to enter ea!h !ountry (as an e3porter, li!enser, oint *enture partner, !ontra!t

manufa!turer, or solo manufa!turer)

!' how to a%apt their pro%u!t an% ser*i!e features to ea!h !ountry

%' how to pri!e their pro%u!ts in %ifferent !ountries

e' all of the a"o*e

Answer- e .age- 17 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

44




1' Mohan awhney has propose% the !on!ept of to %es!ri"e a !luster of!omplementary pro%u!ts an% ser*i!es that are !losely relate% in the min%s of !onsumers "ut are

sprea% a!ross a %i*erse set of in%ustries'

a' metamarket

"' *erti!al integration

!' hori&ontal integration

%' "etamarket

e' syn!hroni&e% marketing

Answer- a .age- 17 Diffi!ulty- 8ar%

1B' :he pro!ess !onsists of analy&ing marketing opportunities, sele!ting target

markets, %esigning marketing strategies, %e*eloping marketing programs, an% managing the

marketing effort'

a' marketing planning

49




"' strategi! planning

!' market resear!h

%' opportunity analysis

e' share of !ustomer

Answer- a .age- 11 Diffi!ulty- Me%ium AAC- Analyti! kills

27' are "asi! human re>uirements? are the ways in whi!h we satisfy those

re>uirements, an% they are shape% "y our so!iety'

a' ants? nee%s

"' Deman%s? wants

!' @ee%s? wants

%' @ee%s? %eman%s

e' Deman%s? nee%s

45




Answer- ! .age- 12 Diffi!ulty- Me%ium AAC- thi!al /easoning

21' A(n) nee% is a nee% that the !onsumer e3pli!itly *er"ali&es'

a' state%

"' real

!' unstate%

%' %elight

e' se!ret

Answer- a .age- 12 Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

22' :he i%entifi!ation an% profiling of %istin!t groups of "uyers who might prefer or re>uire

*arying pro%u!t an% ser*i!e mi3es is known as '

a' segmentation

"' integration

4<




!' %isinterme%iation

%' targeting

e' partner relationship management

Answer- a .age- 14 Diffi!ulty- Me%ium

24' Companies a%%ress nee%s "y putting forth a(n) , a set of "enefits that they offer to!ustomers to satisfy their nee%s'

a' "ran%

"' *alue proposition

!' offering

%' target market

e' %eman%

Answer- " .age- 14 Diffi!ulty- Me%ium

4=




29' A(n) nee% is one that moti*ates the !onsumer "ut that the !onsumer is relu!tant or

unwilling to e3pli!itly *er"ali&e'

a' real

"' unstate%

!' %elight

%' se!ret

e' state%

Answer- % .age- 14 Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

25' During market segmentation analysis, the marketer i%entifies whi!h segments present the

greatest opportunity' :hese segments are !alle% '

a' target markets

"' primary markets

4




!' tertiary markets

%' %emographi! markets

e' fo!use% markets


2<' For ea!h target market, the firm %e*elops a ' :he offering is then positione% in the

min%s of the target "uyers as %eli*ering some !entral "enefit(s)'

a' *alue offering

"' ni!he offering

!' market offering

%' segment offering

e' so!ial offering


4B




2=' refle!ts a !ustomerNs u%gment of a pro%u!tNs performan!e in relation to his or her

e3pe!tations'

a' oyalty

"' atisfa!tion

!' alue

%' 3pe!tations

e' Comparison shopping

Answer- " .age- 19 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

2' $f a marketer %e!i%es to use warehouses, transportation !ompanies, "anks, an% insuran!e

!ompanies to fa!ilitate transa!tions with potential "uyers, the marketer is using what is !alle% a '

a' ser*i!e !hannel

"' %istri"ution !hannel

!' "ran% !hannel

97




%' relationship !hannel

e' interme%iary !hannel


2B' :he is a long !hannel stret!hing from raw materials to !omponents to final

pro%u!ts that are !arrie% to final "uyers'

a' !ommuni!ation !hannel

"' %istri"ution !hannel

!' supply !hain

%' ser*i!e !hannel

e' marketing !hannel


91




47' alue refle!ts '

a' the pri!e !onsumers are !harge% for a pro%u!t

"' the !ost of manufa!turing a pro%u!t

!' the %egree to whi!h !onsumer %eman% for the pro%u!t is positi*e

%' the sum of the per!ei*e% tangi"le an% intangi"le "enefits an% !osts to !ustomers

e' all of the a"o*e

Answer- % .age- 19 Diffi!ulty- 8ar% AAC- thi!al /easoning

41' in!lu%es all the a!tual an% potential ri*al offerings an% su"stitutes that a "uyer

might !onsi%er'

a' Competition

"' :he pro%u!t offering

!' A *alue proposition

%' :he supply !hain

92




e' :he marketing en*ironment

Answer- a .age- 19 Diffi!ulty- asy AAC- /efle!ti*e :hinking

42' :he in!lu%es the a!tors in*ol*e% in pro%u!ing, %istri"uting, an% promoting the

offering' :he main a!tors are the !ompany, suppliers, %istri"utors, %ealers, an% the target!ustomers'

a' operations en*ironment

"' management en*ironment

!' strategi! en*ironment

%' task en*ironment

e' ta!ti!al en*ironment

Answer- % .age- 15 Diffi!ulty- Me%ium AAC- Analyti! kills

94




44' Many !ountries ha*e in%ustries to !reate greater !ompetition an% growth

opportunities'

a' openmarket

"' %eregulate%

!' regulate%

%' s!ientifi!ally segmente%

e' !reate% mass market

Answer- " .age- 15 Diffi!ulty- Me%ium AAC- Multi!ulturalRDi*ersity

49' /ising promotion !osts an% shrinking profit margins are the result of '

a' !hanging te!hnology

"' glo"ali&ation

!' %eregulation

99




%' pri*ati&ation

e' heightene% !ompetition

Answer- e .age- 15 Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

45' $n%ustry "oun%aries are "lurring rapi%ly as !ompanies i%entify new opportunities at the

interse!tion of two or more in%ustriesSthis is !alle% '

a' glo"ali&ation

"' !ustomi&ation

!' in%ustry !on*ergen!e

%' heightene% !ompetition

e' a!>uisition


4<' $n response to giant retailers an% !ategory killers, entrepreneurial retailers are "uil%ing

95




entertainment into stores with !offee "ars, le!tures, %emonstrations, an% performan!es' :hey are

marketing a(n) rather than a pro%u!t assortment'

a' e3perien!e

"' !ustomer *alue

!' !ustomer %elight

%' total ser*i!e solution

e' intangi"le "enefit(s)

Answer- a .age- 15 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

4=' $n response to threats from su!h !ompanies as A0, Ama&on'!om, Eahoo, eay,

G:/AD, an% %o&ens of others, esta"lishe% manufa!turers an% retailers "e!ame O"ri!kan%!li!kP oriente% "y a%%ing online ser*i!es to their e3isting offerings' :his pro!ess "e!ame known

as '

a' reinterme%iation

"' %isinterme%iation

!' e!ommer!e

9<




%' e!olla"oration

e' newmarket syn!hroni&ation

Answer- a .age- 1< Diffi!ulty- 8ar% AAC- Hse of $:

4' Many "ri!kan%!li!k !ompetitors "e!ame stronger !onten%ers in the marketpla!e than the

pure!li!k firms "e!ause they ha% a larger pool of resour!es to work with an% '

a' "etter pri!es

"' greater *alue

!' wellesta"lishe% "ran% names

%' oneonone !ommuni!ations

e' %ire!tselling !apa"ility

Answer- ! .age- 1< Diffi!ulty- Me%ium AAC- Hse of $:

9=




4B' Managers of oriente% "usinesses !on!entrate on a!hie*ing high pro%u!tion

effi!ien!y, low !osts, an% mass %istri"ution'

a' selling

"' pro%u!t

!' pro%u!tion

%' marketing

e' !onsumer

Answer- ! .age- 1 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

97' :he feasi"ility of !ompanies %ealing with !ustomers one at a time has risen as a result of

a%*an!es in , !omputers, the $nternet, an% %ata"ase marketing software'

a' impro*e% !ommuni!ation flow

"' information te!hnology

!' ustintime manufa!turing

9




%' fa!tory !ustomi&ation

e' !ustomer!entere% strategies

Answer- % .age- 1 Diffi!ulty- 8ar% AAC- Hse of $:

91' :he !on!ept hol%s that !onsumers will fa*or those pro%u!ts that offer the most

>uality, performan!e, or inno*ati*e features'

a' pro%u!t

"' marketing

!' pro%u!tion

%' selling

e' holisti! marketing

Answer- a .age- 1 Diffi!ulty- asy

92' :he is pra!ti!e% most aggressi*ely with unsought goo%s, goo%s that "uyers

9B




normally %o not think of "uying, su!h as insuran!e, en!y!lope%ias, an% !emetery plots'

a' marketing !on!ept

"' selling !on!ept

!' pro%u!tion !on!ept

%' pro%u!t !on!ept

e' holisti! marketing !on!ept

Answer- " .age- 1B Diffi!ulty- Me%ium AAC- Analyti! kills

94' :he !on!ept hol%s that !onsumers an% "usinesses, if left alone, will or%inarily not

"uy enough of the organi&ationNs pro%u!ts'

a' pro%u!tion

"' selling

!' marketing

%' pro%u!t

57




e' holisti! marketing

Answer- " .age- 1B Diffi!ulty- Me%ium

99' e*eral s!holars ha*e foun% that !ompanies who em"ra!e the marketing !on!ept a!hie*e

superior performan!e' :his was first %emonstrate% for !ompanies pra!ti!ing a S un%erstan%ing an% meeting !ustomersN e3presse% nee%s'

a' rea!ti*e market orientation

"' proa!ti*e marketing orientation

!' total market orientation

%' impulsi*e market orientation

e' holisti! market orientation

Answer- a .age- 1B Diffi!ulty- Me%ium

95' A!!or%ing to :heo%ore e*itt, who %rew !ontrasts "etween the selling an% marketing!on!epts, is preo!!upie% with the nee% to !on*ert pro%u!ts into !ash'

51




a' marketing

"' selling

!' %ire!t marketing

%' holisti! marketing

e' ser*i!e marketing

Answer- " .age- 1B Diffi!ulty- Me%ium

9<' Companies that pra!ti!e "oth a rea!ti*e an% proa!ti*e marketing orientation are

implementing a an% are likely to "e the most su!!essful'

a' total market orientation

"' e3ternal fo!us

!' !ustomer fo!us

%' !ompetiti*e, !ustomer fo!us

52




e' !onfrontation pro!ess

Answer- a .age- 1B Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

9=' Companies that a%opt an% employ the marketing !on!ept swit!h from "eing solely pro%u!t

!entere% to "eing more !entere%'

a' !ompeten!y

"' strategy

!' marketing

%' !ustomer

e' sales

Answer- % .age- 1B Diffi!ulty- 8ar% AAC- Analyti! kills

9' !an "e seen as the %e*elopment, %esign, an% implementation of marketing programs, pro!esses, an% a!ti*ities that re!ogni&es the "rea%th an% inter%epen%en!ies of their

effe!ts'

54




a' @i!he marketing

"' 8olisti! marketing

!' /elationship marketing

%' upply !hain marketing

e' Deman%!entere% marketing

Answer- " .ages- 1B27 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

9B' marketing aims to "uil% mutually satisfying longterm relations with key parties

su!h as !ustomers, suppliers, %istri"utors, an% other marketing partners'

a' 8olisti!

"' Deman%"ase%

!' Dire!t

%' /elationship

e' yntheti!

59




Answer- % .age- 27 Diffi!ulty- asy AAC- Communi!ation

57' :he strength of the %epen%s on the mutually profita"le "usiness relationships "uilt

"y the !ompany an% its supporting stakehol%ers'

a' sales network

"' holisti! union

!' marketing network

%' supply !hain network

e' integrate% network

Answer- ! .age- 22 Diffi!ulty- 8ar% AAC- Communi!ation

51' 0ne tra%itional %epi!tion of marketing a!ti*ities is in terms of the marketing mi3 or four .s':he four .s are !hara!teri&e% as "eing '

a' pro%u!t, positioning, pla!e, an% pri!e

55




"' pro%u!t, pro%u!tion, pri!e, an% pla!e

!' promotion, pla!e, positioning, an% pri!e

%' pla!e, promotion, pro%u!tion, an% positioning

e' pro%u!t, pri!e, promotion, an% pla!e

Answer- e .age- 22 Diffi!ulty- Me%ium

52' From a "uyerNs point of *iew, ea!h marketing tool is %esigne% to %eli*er a !ustomer "enefit'

:he $A !ustomer!entri! "reak%own of marketing a!ti*ities in!lu%es '

a' sale, intera!tion, *oi!e, an% a*aila"ility

"' solution, information, *alue, an% a!!ess

!' satisfa!tion, intention, *alue, an% a!!ount

%' situation, importan!e, *aria"ility, an% awareness

e' none of the a"o*e

5<




Answer- " .age- 24 Diffi!ulty- Me%ium AAC- Multi!ulturalRDi*ersity

54' A firm !an only in the long run'

a' re%u!e its salesfor!e si&e

"' %e*elop new pro%u!ts

!' !hange its pri!e

%' mo%ify a%*ertising e3pen%itures

e' All of the a"o*e may "e %one in the short or long run'


59' 8olisti! marketing in!orporates , ensuring that e*eryone in the organi&ation

em"ra!es appropriate marketing prin!iples, espe!ially senior management'

a' profit o"e!ti*es

"' share of !ustomer

5=




!' internal marketing

%' the marketing mi3

e' strategi! planning

Answer- ! .age- 29 Diffi!ulty- 8ar% AAC- Analyti! kills

55' Companies are re!ogni&ing that mu!h of their market *alue !omes from , parti!ularly their "ran%s, !ustomer "ase, employees, %istri"utor an% supplier relations, an%

intelle!tual !apital'

a' *aria"le assets

"' the *alue proposition

!' intangi"le assets

%' tangi"le assets

e' !ustomer preferen!es

Answer- ! .age- 2< Diffi!ulty- asy AAC- /efle!ti*e :hinking

5




5<' 8olisti! marketing in!orporates , an un%erstan%ing of "roa%er !on!erns in theethi!al, en*ironmental, legal, an% so!ial !onte3t of marketing a!ti*ities'

a' safe pro%u!t %esign

"' !ultural marketing

!' so!ial responsi"ility marketing

%' !rossfun!tional teams

e' %ire!tsales poli!ies

Answer- ! .age- 2< Diffi!ulty- Me%ium

5=' :he hol%s that the organi&ationNs task is to %etermine the nee%s, wants, an%

interests of target markets an% to %eli*er the %esire% satisfa!tions more effe!ti*ely an% effi!iently

than !ompetitors in a way that preser*es or enhan!es the !onsumerNs an% the so!ietyNs well "eing'

a' !ustomer!entere% "usiness

5B




"' fo!use% "usiness mo%el

!' so!ietal marketing !on!ept

%' ethi!ally responsi"le marketing manager

e' pro%u!tion!entere% "usiness

Answer- ! .age- 2= Diffi!ulty- Me%ium AAC- Analyti! kills

5' At the heart of any marketing program is the Sthe firmNs tangi"le offering to the

market'

a' ser*i!e offer

"' pro%u!t

!' sales support team

%' pa!kaging

e' au3iliary offer

Answer- " .age- 2B Diffi!ulty- Me%ium AAC- Analyti! kill

<7




5B' a!ti*ities in!lu%e those the !ompany un%ertakes to make the pro%u!t a!!essi"le

an% a*aila"le to target !ustomers'

a' Consumer "eha*ior

"' Market segmentation

!' Marketing resear!h

%' Channel

e' @ewpro%u!t %e*elopment

Answer- % .ages- 2B47 Diffi!ulty- Me%ium AAC- Communi!ation

<7' Marketing fee%"a!k an% pro!esses are ne!essary to un%erstan% the effi!ien!y an%

effe!ti*eness of marketing a!ti*ities an% how "oth !oul% "e impro*e%'

a' !ontrol

"' analysis

!' measurement

<1




%' retrospe!ti*e

e' !onsumer "eha*ior


:rueRFalse

<1' A short %efinition of marketing is Omeeting nee%s profita"ly'P

Answer- :rue .age- 5 Diffi!ulty- asy AAC- Analyti! kills

<2' alue marketing is the Oart an% s!ien!e of !hoosing target markets an% getting, keeping, an%growing !ustomers through !reating, %eli*ering, an% !ommuni!ating superior !ustomer *alue'P

Answer- False .age- 5 Diffi!ulty- Me%ium

<2




<4' er*i!es !onstitute the "ulk of most !ountriesN pro%u!tion an% marketing effort'

Answer- False .age- < Diffi!ulty- Me%ium AAC- Analyti! kills

<9' :he H'' e!onomy to%ay !onsists of a =747 ser*i!estogoo%s mi3'

Answer- :rue .age- < Diffi!ulty- Me%ium

<5' OFrien%s DonNt et Frien%s Dri*e Drunk,P is an e3ample of marketing an e3perien!e to anintereste% au%ien!e'

Answer- False .age- = Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

<<' Hnwholesome %eman% o!!urs when !onsumersN pur!hases *ary on a seasonal, monthly,

weekly, %aily, or e*en hourly "asis'

Answer- False .age- Diffi!ulty- 8ar% AAC- Analyti! kills

<4




<=' hen !onsumers share a strong nee% that !annot "e satisfie% "y an e3isting pro%u!t, they are

engage% in latent %eman%'

Answer- :rue .age- Diffi!ulty- Me%ium

<' Companies selling goo%s an% ser*i!es in the glo"al marketpla!e ha*e the a%*antage of "einga"le to sell the goo%s an% ser*i!es in almost the same way as they %o in their %omesti! market'

Answer- False .age- 17 Diffi!ulty- asy AAC- Multi!ulturalRDi*ersity

<B' Companies selling their goo%s to nonprofit organi&ations may !harge an e3tra premium o*er

their normal pri!es "e!ause these organi&ations are largely in%ifferent to pri!e'

Answer- False .age- 17 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

=7' A marketspa!e is physi!al, as when you shop in a store'

Answer- False .age- 17 Diffi!ulty- Me%ium AAC- Hse of $:

<9




=1' ants are "asi! human re>uirements su!h as foo% or air'


=2' Deman%s are wants for spe!ifi! pro%u!ts "a!ke% "y an a"ility to pay'

Answer- :rue .age- 12 Diffi!ulty- asy AAC- Analyti! kills

=4' Most marketers satisfy e*eryone in a marketSthatNs how they stay in "usiness'


=9' :he !ustomer*alue tria% !onsists of a !om"ination of >uality, ser*i!e, an% pri!e'

Answer- :rue .age- 19 Diffi!ulty- 8ar% AAC- Analyti! kills

=5' A %istri"ution !hannel in!lu%es %istri"utors, wholesalers, retailers, an% agents that %isplay,

sell, or %eli*er the physi!al pro%u!t or ser*i!e(s) to the "uyer or user'

<5




Answer- :rue .age- 19 Diffi!ulty- asy

=<' :he main a!tors in the task en*ironment are the !omponents of %emographi!s, e!onomi!s,

physi!al setting, te!hnology, the politi!allegal system, an% the so!ial!ultural arena'

Answer- False .age- 19 Diffi!ulty- Me%ium AAC- Analyti! kills

==' /egulation of in%ustries has !reate% greater !ompetition an% growth opportunities "e!ause

the playing fiel% has "een le*ele%'

Answer- False .age- 15 Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

=' $n%ustry "oun%aries are "lurring at an in!re%i"le rate as !ompanies are re!ogni&ing that newopportunities lie at the interse!tion of two or more in%ustries'

Answer- :rue .age- 15 Diffi!ulty- Me%ium

=B' :he o*era"un%an!e of information a*aila"le on the $nternet has ma%e it more %iffi!ult for

<<




!onsumers to !ompare pro%u!t features an% pri!es'

Answer- False .age- 1< Diffi!ulty- asy AAC- /efle!ti*e :hinking

7' Companies !an fa!ilitate an% spee% e3ternal !ommuni!ation among !ustomers "y !reating

online an% offline O"u&&P through "ran% a%*o!ates an% user !ommunities'

Answer- :rue .age- 1= Diffi!ulty- asy AAC- Communi!ation

1' :he proliferation of targete% me%ia an% !ommuni!ation !hannels has allowe% marketers to

"e!ome mu!h more aware of their target !onsumersN preferen!es an% to !ustomi&e "oth pro%u!ts

an% messages for in%i*i%ual !onsumers'

Answer- :rue .age- 1= Diffi!ulty- Me%ium AAC- Communi!ation

2' :he marketing !on!ept is one of the ol%est !on!epts in "usiness'


<=




4' :he selling !on!ept hol%s that !onsumers will fa*or those pro%u!ts that offer the most

>uality, performan!e, or inno*ati*e features'

Answer- False .age- 1 Diffi!ulty- Me%ium AAC- Analyti! kills

9' :he marketing !on!ept stresses a !ustomer!entere% approa!h to marketing'

Answer- :rue .age- 1B Diffi!ulty- asy AAC- Analyti! kills

5' :he selling !on!ept is "ase% on the %e*elopment, %esign, an% implementation of marketing

programs, pro!esses, an% a!ti*ities that re!ogni&es their "rea%th an% inter%epen%en!ies'

Answer- False .age- 1B Diffi!ulty- Me%ium AAC- Analyti! kills

<' /elationship marketing aims to "uil% mutually satisfying longterm relationships with key

parties'


<




=' Attra!ting a new !ustomer may !ost fi*e times as mu!h as %oing a goo% enough o" to retain

an e3isting one'

Answer- :rue .age- 22 Diffi!ulty- Me%ium AAC- Analyti! kills

' :he marketingmi3 !omponent !alle% promotion in!lu%es su!h items as pro%u!t *ariety,%esign, pa!kaging, ser*i!es, an% warranties'


B' hen a marketer makes %e!isions in*ol*ing !hannels, assortments, lo!ations, an%

transportation, the marketer is making what are !alle% pla!e %e!isions'


B7' A%*ertising, sales promotion, an% %ire!t marketing are all part of what is !alle% the offering

mi3'


<B




B1' 0ne of the key themes of integrate% marketing is that there are *ery few marketing a!ti*itiesthat !an effe!ti*ely !ommuni!ate an% %eli*er *alue'

Answer- False .age- 22 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

B2' $nternal marketing is an appropriate pra!ti!e to "e use% in holisti! marketing'

Answer- :rue .age- 29 Diffi!ulty- asy AAC- /efle!ti*e :hinking

B4' $n most !ompanies, marketing shoul% fo!us on the !ustomer an% other %epartments shoul%fo!us on the "usiness itself'

Answer- False .age- 29 Diffi!ulty- asy AAC- /efle!ti*e :hinking

B9' .erforman!e marketing in*ol*es re*iewing metri!s assessing market share, !ustomer loss

rate, !ustomer satisfa!tion, an% pro%u!t >uality in the e*aluation of the effe!ti*eness of

marketing a!ti*ities'

=7




Answer- :rue .age- 2< Diffi!ulty- Me%ium

B5' :he selling relationship !on!ept hol%s that !onsumers will prefer pro%u!ts that are ethi!al,en*ironmentally responsi"le, legal, an% so!ial in the !onte3t of marketing a!ti*ities an%

programs'

Answer- False .age- 2= Diffi!ulty- Me%ium AAC- Analyti! kills

B<' :he so!ietal marketing !on!ept hol%s that the organi&ationNs task is to %etermine the nee%s,

wants, an% interests of target markets an% to %eli*er the %esire% satisfa!tions more effe!ti*ely an%effi!iently than !ompetitors in a way that preser*es or enhan!es the !onsumerNs an% the so!ietyNs

well"eing'

Answer- :rue .age- 2= Diffi!ulty- asy

B=' Causerelate% marketing in*ol*es %onating a per!entage of re*enues to a spe!ifi! !ause "ase%on the re*enue o!!urring %uring the announ!e% perio% of support'

Answer- :rue .age- 2= Diffi!ulty- Me%ium AAC- Analyti! kills

=1




B' Making gifts of money, goo%s, or time to help nonprofit organi&ations, groups, or in%i*i%uals

is known as !orporate philanthropy'

Answer- :rue .age- 2= Diffi!ulty- Me%ium

BB' :o un%erstan% what is happening insi%e an% outsi%e the !ompany, the !ompany nee%s arelia"le marketing information system'


177' e!ause of surprises an% %isappointments that !an o!!ur as marketing plans are

implemente%, the !ompany will nee% fee%"a!k an% !ontrol to impro*e itself'


ssay

171' Marketing has "een %es!ri"e% "eing "oth an OartP an% a Os!ien!e'P Dis!uss the %ifferen!es

an% similarities "etween these two marketing thrusts' .ro*i%e your theoreti!al response an% aOreallifeP e3ample where you ha*e seen "oth pro!esses work effe!ti*ely at !reating !ustomer

=2




*alue an% loyalty'

uggeste% Answer- :he stu%ent shoul% %emonstrate his or her un%erstan%ing that the marketermust use %ata to un%erstan% !ustomer nee%s an% translate this un%erstan%ing into properly

%esigne% pro%u!ts an% ser*i!es' :hey shoul% also see the OartP si%e of human "eha*ior, where the

!ustomer makes %e!isions "ase% on emotions, su!h as the per!ei*e% "enefits'

.age- 5 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

172' Marketing people are in*ol*e% in marketing 17 types of entities' ist an% "riefly!hara!teri&e those entities'

uggeste% Answer- :he types of entities that marketing people are in*ol*e% in marketing are (1)goo%sSphysi!al goo%s, (2) ser*i!esShotels an% !ar rental, (4) e*entsStime"ase% e*ents su!h

as tra%e shows, (9) e3perien!esSalt DisneyNs Magi! King%om, (5) personsS!ele"rity

marketing, (<) pla!esS!ities, states, regions, an% e*en whole nations, (=) propertiesSintangi"le

rights of ownership of either real property or finan!ial property, () organi&ationsS!orporatei%entity, (B) informationSinformation pro%u!e% an% markete% as a pro%u!t, an% (17) i%easS

marketing the "asi! i%ea of a market offering'

.ages- <= Diffi!ulty- 8ar% AAC- Analyti! kills

=4




174' Marketers are skille% in stimulating %eman% for a !ompanyNs pro%u!ts, "ut this is too

limite% a *iew of the tasks they perform' Just as pro%u!tion an% logisti!s professionals are

responsi"le for supply management, marketers are responsi"le for %eman% management'

Marketing managers seek to influen!e the le*el, timing, an% !omposition of %eman% to meet theorgani&ationNs o"e!ti*es' ist an% "riefly !hara!teri&e the eight %eman% states %es!ri"e% in the

te3t'

uggeste% Answer- :he eight %ifferent %eman% states are (1) negati*e %eman%S!onsumers%islike the pro%u!t an% may e*en pay a pri!e to a*oi% it, (2) none3istent %eman%S!onsumers

may "e unaware or unintereste% in the pro%u!t, (4) latent %eman%S!onsumers may share a

strong nee% that !annot "e satisfie% "y an e3isting pro%u!t, (9) %e!lining %eman%S!onsumers "egin to "uy the pro%u!t less fre>uently or not at all, (5) irregular %eman%S!onsumer pur!hases

*ary on a seasonal, monthly, weekly, %aily, or e*en hourly "asis, (<) full %eman%S!onsumers are

a%e>uately "uying all pro%u!ts put into the marketpla!e, (=) o*erfull %eman%Smore !onsumerswoul% like to "uy the pro%u!t than !an "e satisfie%, an% () unwholesome %eman%S!onsumers

may "e attra!te% to pro%u!ts that ha*e un%esira"le so!ial !onse>uen!es'

.age- Diffi!ulty- 8ar% AAC- Analyti! kills

179' e !an %istinguish among fi*e types of !ustomer nee%s' ist an% pro*i%e an e3ample ofea!h of those !ustomer nee%s'

uggeste% Answer- :he fi*e types of !ustomer nee%s are (note the e3ample from the te3t)- (1)

state% nee%sSthe !ustomer wants an ine3pensi*e !ar, (2) real nee%sSthe !ustomer wants a !arwhose operating !ost, not its initial pri!e, is low, (4) unstate% nee%sSthe !ustomer e3pe!ts goo%

=9




ser*i!e from the %ealer, (9) %elight nee%sSthe !ustomer woul% like the %ealer to in!lu%e an

on"oar% na*igation system, an% (5) se!ret nee%sSthe !ustomer wants to "e seen "y frien%s as a

sa**y !onsumer'

.ages- 1214 Diffi!ulty- Me%ium AAC- Analyti! kills

175' Distinguish "etween the !on!epts of *alue an% satisfa!tion'

uggeste% Answer- :he offering will "e su!!essful if it %eli*ers *alue an% satisfa!tion to the

target "uyer' :he "uyer !hooses "etween %ifferent offerings on the "asis of whi!h is per!ei*e% to%eli*er the most *alue' alue refle!ts the per!ei*e% tangi"le an% intangi"le "enefits an% !osts to

!ustomers' alue !an "e seen as primarily a !om"ination of >uality, ser*i!e, an% pri!e (!alle% the

!ustomer*alue tria%)' atisfa!tion refle!ts a personNs !omparati*e u%gments resulting from a pro%u!tNs per!ei*e% performan!e (or out!ome) in relation to his or her e3pe!tations'

.ages- 1419 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

17<' 3amine an% %o!ument the fa!tors that ha*e "rought a"out !ustomersN higher e3pe!tations

of their suppliers' hat are the maor shifts in marketing management that ha*e "rought a"outthese !hanges#

uggeste% Answer- tu%ents may not un%erstan% that our worl%Ns !apa!ity to pro%u!e pro%u!ts

=5




e3!ee%s the nee%s' :herefore, !ustomers ha*e more !hoi!es an% !an "e more %eman%ing' :he

time !run!h has allowe% new pro*i%ers to enter the market' For e3ample, @etfli3 !ompetes

effe!ti*ely with lo!k"uster i%eo "e!ause they %eli*er *i%eos to your home' $tNs ser*i!e likethis that fits the !ustomer nee%s to satisfy what money !an "uyStime' tu%ents may use

appropriate marketing management shifts as %es!ri"e% in the !hapter'

.ages- 1<1= Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

17=' :he !ompeting !on!epts un%er whi!h organi&ations ha*e !on%u!te% marketing a!ti*ities

in!lu%e- the pro%u!tion !on!ept, pro%u!t !on!ept, selling !on!ept, marketing !on!ept, an%holisti! marketing !on!ept' *aluate the a%*antages an% %isa%*antages of ea!h !on!ept as

%efine% an% presente% in your te3t"ook' hi!h !on!ept %o you "elie*e is the most effe!ti*e#

hy#

uggeste% Answer- Although stu%ents will "e e3pe!te% to resear!h ea!h !on!ept, they shoul%

!on!lu%e the most effe!ti*e !on!ept is the holisti! marketing !on!ept, where !ompanies nee% toha*e a more !omplete, !ohesi*e approa!h that goes "eyon% tra%itional appli!ations of the

marketing !on!ept'

.ages- 122 Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

17' $n!reasingly, a key goal of marketing is to %e*elop %eep, en%uring relationships with all

people or organi&ations that !oul% %ire!tly or in%ire!tly affe!t the su!!ess of the firmNs marketinga!ti*ities' /elationship marketing has the aim of "uil%ing mutually satisfying longterm relations

with key partiesS!ustomers, suppliers, %istri"utors, an% other marketing partnersSin or%er to

earn an% retain their "usiness'

=<




Dis!uss the merits of relationship marketing' Des!ri"e in %etail a !ompany who is in "usinessto%ay that mo%els relationship marketing'

uggeste% Answer- tu%ents shoul% un%erstan% the relationship "etween any supplier an%!ustomer is not ust in the me!hani!s of the transa!tion, "ut more importantly how the !ustomer

is treate% %uring the transa!tion' :he "etter the relationship, the more apt the !ustomer willremain loyal' :hey shoul% pi!k a !ompany that has ser*e% them well an% ma%e them feel spe!ial

ea!h an% e*ery time'

.ages- 2722 Diffi!ulty- Me%ium AAC- Communi!ation

17B' $%entify an% %efine the four .s an% the !orrespon%ing !onsumeroriente% $A %imensions'

uggeste% Answer- :he four .s are- .ro%u!t (pro%u!t *ariety, >uality, %esign, features, "ran%

name, pa!kaging, si&es, ser*i!es, warranties, returns), .ri!e (list pri!e, %is!ounts, allowan!es, payment perio%, !re%it terms), .romotion (sales promotion, a%*ertising, sales for!e, pu"li!

relations, %ire!t marketing), an% .la!e (!hannels, !o*erage, assortments, lo!ations, in*entory,

transportation)' A !omplementary "reak%own of marketing a!ti*ities that approa!hes the pro!ess

from a !ustomer!entri! *iewpoint is the $A framework- olution (8ow !an $ sol*e my pro"lem#), $nformation (here !an $ learn more a"out it#), alue (hat is my total sa!rifi!e to

==




get the solution#), an% A!!ess (here !an $ fin% it#)'

.age- 24 Diffi!ulty- 8ar% AAC- Analyti! kills

117' A!!or%ing to tar"u!ks Chairman 8owar% !hult&, OConsumers now !ommonly engage in

a !ultural au%it of Lpro%u!t an% ser*i!e pro*i%ers' .eople want to know your *alue an% ethi!s%emonstrate% "y how you treat employees, the !ommunity in whi!h you operate'P Dis!uss the

!on!ept of so!ial responsi"ility marketing an% how it impa!ts "oth !ompanies an% !onsumers'

uggeste% Answer- :he so!ietal marketing !on!ept hol%s that the organi&ationNs task is to%etermine the nee%s, wants, an% interests of target markets an% to %eli*er the %esire% satisfa!tion

more effe!ti*ely an% effi!iently than !ompetitors in a way that preser*es or enhan!es the

!onsumerNs an% so!ietyNs longterm well"eing' Many !ompanies a!ti*ely engage% in !orporateso!ial responsi"ility !ampaigns to "oth moti*ate employees an% attra!t !onsumers' As goo%s

"e!ome more !ommo%iti&e%, an% as !onsumers grow more so!ially !ons!ious, some !ompanies

are a%%ing so!ial responsi"ility as a way to %ifferentiate themsel*es from !ompetitors, "uil%!onsumer preferen!e, an% a!hie*e nota"le sales an% profit gains' :hey "elie*e !ustomers will

in!reasingly look for signs of goo% !orporate !iti&enship'

.ages- 2<2= Diffi!ulty- Me%ium AAC- thi!al /easoning

A..$CA:$0@ TH:$0@

=




Multiple Choi!e

111' hen $KA noti!e% that people wante% goo% furniture at a su"stantially lower pri!e an%

!reate% kno!k%own furniture, they %emonstrate% marketing sa**y an% turne% a pri*ate or so!ialnee% into a(n) '

a' market nee%

"' profita"le "usiness opportunity

!' pro%u!t %e*elopment

%' in*ention

e' !ustomer want


=B




112' Car rental firms, "ar"ers, an% management !onsultants pro*i%e '

a' goo%s

"' e3perien!es

!' pla!es

%' ser*i!es

e' information

Answer- % .age- < Diffi!ulty- asy AAC- Analyti! kills

114' alt DisneyNs Magi! King%om represents marketing- Customers *isit a fairy

king%om, a pirate ship, or a haunte% house'

a' e3periential

"' ser*i!es

!' e*ent

%' !ele"rity

7




e' goo%s

Answer- a .age- < Diffi!ulty- Me%ium AAC- Analyti! kills

119' Janet is *ery upset that she !anNt get ti!kets to the new /olling tones !on!ert' Ohy %o

they keep a%*ertising the show if you !anNt get ti!kets#P won%ers Janet' hi!h of the following%eman% states applies to JanetNs situation#

a' none3istent %eman%

"' latent %eman%

!' full %eman%

%' unwholesome %eman%

e' o*erfull %eman%

Answer- e .age- Diffi!ulty- Me%ium AAC- Analyti! kills

1




115' hen Ja!k pur!hases his air!on%itioning unit in the winter to a*oi% the high pri!es foun% in

the summer, he is e3hi"iting %eman%'

a' irregular

"' %e!lining

!' impulse

%' latent

e' negati*e

Answer- a .age- Diffi!ulty- Me%ium AAC- Analyti! kills

11<' Julia hates smoking an% is willing to pay an e3tra ta3 ust to help eliminate smoking in her

!ity' he is e3hi"iting with respe!t to smoking'

a' negati*e %eman%

"' none3istent %eman%

!' latent %eman%

2




%' %e!lining %eman%

e' unwholesome %eman%

Answer- a .age- Diffi!ulty- Me%ium AAC- Analyti! kills

11=' $n a mo%ern e3!hange e!onomy, all of the following markets are likely to e3ist IC.:

'

a' resour!e market

"' manufa!turer market

!' go*ernment market

%' !onsumer market

e' !lass market

Answer- e .age- B Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

4




11' $n a simple marketing system, if the automo"ile in%ustry sen%s a%*ertising an% personal

sales messages to prospe!ti*e "uyers, it e3pe!ts in e3!hange'

a' goo%s

"' ser*i!es

!' money

%' information

e' image enhan!ement

Answer- % .age- B Diffi!ulty- Me%ium AAC- Analyti! kills

11B' Automo"ile manufa!tures, new !ar an% use% !ar %ealers, finan!ing !ompanies, an%

insuran!e !ompanies are all part of the automo"ile '

a' marketpla!e

"' marketspa!e

!' metame%iary

9




%' marketportal

e' metamarket

Answer- e .age- 17 Diffi!ulty- Me%ium

127' hen Frank i%entifies a marketing opportunity to market his !ompanyNs ski an% snow"oar%

helmets to "a"y "oomers intereste% in winter sports through a%*ertisements in enthusiastmaga&ines, Frank is going through the '

a' metamarket

"' marketing planning pro!ess

!' so!ial marketing !on!ept

%' supply !hain !onglomeration

e' negati*e %eman%

Answer- " .age- 11 Diffi!ulty- Me%ium AAC- Analyti! kills

5




121' hen a !ustomer has a(n) nee%, the !ustomer might e3pe!t something like

a%miration from frien%s "e!ause he or she has pur!hase% something that might in%i!ate a !ertain

market sa**y'

a' real

"' unstate%

!' %elight

%' se!ret

e' state%

Answer- % .age- 14 Diffi!ulty- 8ar% AAC- Analyti! kills

122' hen ol*o runs a%*ertisements suggesting that it is the safest !ar money !an "uy, it isengaging in whi!h of the following forms of marketing programming#

a' :e!hnologi!al

"' er*i!e

!' Market segmentation

<




%' .u"li! relations

e' .ositioning

Answer- e .age- 14 Diffi!ulty- Me%ium AAC- Communi!ation

124' hen online %ot!oms, su!h as eay an% Ama&on'!om !ut out the maority of mi%%lemen

that normally woul% parti!ipate in the e3!hange pro!ess, they were a%*o!ating '

a' !ategory killers

"' e*ery%aylow pri!es

!' reinterme%iation

%' %isinterme%iation

e' supply !hain !onglomeration

Answer- % .age- 1< Diffi!ulty- Me%ium AAC- Hse of $:

=




129' Hn%er whi!h of the following !ompany orientations towar% the marketpla!e woul% we

e3pe!t to fin% the O"etter mousetrapP falla!y#

a' .ro%u!tion !on!ept

"' .ro%u!t !on!ept

!' elling !on!ept

%' Marketing !on!ept

e' 8olisti! marketing !on!ept'

Answer- " .age- 1 Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

125' $f marketers are !hara!teri&e% as Ogar%eningP rather than Ohunting,P the is most

likely to "e the !on!ept the marketers are following'

a' pro%u!tion !on!ept

"' pro%u!t !on!ept

!' selling !on!ept




%' marketing !on!ept

e' so!ial responsi"ility !on!ept

Answer- % .age- 1B Diffi!ulty- 8ar% AAC- /efle!ti*e :hinking

12<' hen 4M, 8., an% Motorola pra!ti!e resear!hing or imaging latent nee%s of !onsumers

through a Opro"ean%learnP pro!ess, they are most likely using whi!h of the following

marketing orientations with respe!t to their !onsumers#

a' elling orientation

"' .romotion orientation

!' upplysi%e orientation

%' /ea!ti*e market orientation

e' .roa!ti*e marketing orientation

Answer- e .age- 1B Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

B




12=' Companies that pra!ti!e are implementing a total market orientation an% are

likely to "e the most su!!essful'

a' rea!ti*e market orientation

"' proa!ti*e marketing orientation

!' "oth rea!ti*e an% proa!ti*e marketing orientation

%' !onsoli%ation an% a!>uisition

e' Oin*ent an% marketP

Answer- ! .age- 1B Diffi!ulty- Me%ium AAC- /efle!ti*e :hinking

12' $n whi!h of the following %imensions of holisti! marketing might we fin% an emphasis on

!ommuni!ations, pro%u!ts an% ser*i!es, an% !hannels#

a' $nternal marketing

"' $ntegrate% marketing

!' o!ially responsi"le marketing

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%' Qlo"al marketing

e' /elationship marketing

Answer- " .age- 21 Diffi!ulty- Me%ium AAC- Analyti! kills

129. Kroger supermarkets are aggressively pursuing a strategy of capturing a larger share of thecustomer’s “stomach.” Which of the following shifts in marketing management is most appropriate forthis example

a. !rom relying on ol" market positions to uncovering new ones.

#. !rom marketing "oes the marketing to everyone "oes the marketing.

c. !rom a focus on gaining market share to a focus on #uil"ing customer share.

". !rom focusing on profita#le transactions to focusing on customer lifetime value.

e. !rom #uil"ing #ran"s through a"vertising to #uil"ing #ran"s through performance an" integrate"communications.

$nswer% c &age% 22 'ifficulty% (ar" $$)*+% $nalytic *kills

1,-. $ num#er of companiesinclu"ing the +o"y *hop/ +en 0 erry’s/ an" &atagoniahave achieve"nota#le sales an" profit gains #y a"opting an" practicing a form of the societal marketing conceptcalle" / #y which a company with an image/ pro"uct/ or service to market #uil"s arelationship or partnership with a cause/ or a num#er of causes/ for mutual #enefit.

a. social marketing

#. environmental marketing

c. cause3relate" marketing

". #enefit marketing

e. responsi#le marketing

$nswer% c &age% 24 'ifficulty% 5asy

*hort $nswer

B1




1,1. What woul" #e a goo" social "efinition of marketing

*uggeste" $nswer% 6arketing is a societal process #y which in"ivi"uals an" groups o#tain what they

nee" an" want through creating/ offering/ an" freely exchanging pro"ucts an" services of value withothers.

&age% 7 'ifficulty% 6e"ium

1,2. 'iscuss the eight "eman" states with respect to #ifocal lenses for glasses.

*uggeste" $nswer% *tu"ent answers may vary/ #ut a possi#le answer inclu"es the following% 81 negative"eman"many people "on’t want to a"mit they nee" #ifocals/ 82 nonexistent "eman"when #ifocallenses were first intro"uce"/ people "i"n’t know they existe"/ 8, latent "eman"#efore they wereintro"uce"/ many people thought such a pro"uct woul" #e nice/ #ut "i"n’t think it woul" ever exist/8: "eclining "eman"this will occur when something #etter is invente"/ such as surgery to repair theeyes/ 87 irregular "eman"the consumer perceives a nee" for eye care "evices only perio"ically/possi#ly when they #egin having trou#le seeing/ 8; full "eman"the manufacturers of the lenses aremaking all they possi#ly can/ 84 overfull "eman"the manufacturers of the lenses can’t make enoughan" inventories are low/ an" 8< unwholesome "eman"seeking alternatives/ consumers may fin" thatalternatives have un"esira#le social conse=uences.

&age% < 'ifficulty% (ar" $$)*+% >eflective ?hinking

1,,. @ew terms are now #eing use" to "escri#e where marketing is "one. Asing the automo#ile market/"escri#e automotive #uying #ehavior for a% 81 marketplace/ 82 marketspace/ an" 8, metamarket.

*uggeste" $nswer% >esponses to this =uestion shoul" inclu"e a reference to the following% 81marketplaceshopping for an automo#ile at a "ealer’s lot/ 82 marketspaceshopping for anautomo#ile via the Bnternet/ e+ay/ or even "esigning your own car via a manufacturer’s We# site/ an"8, metamarket8a cluster of complementary pro"ucts an" services that are closely relate" in thecustomer’s min" #ut are sprea" across a "iverse set of in"ustries that might inclu"e insurancecompanies/ the racing in"ustry/ the travel in"ustry/ the customiCation in"ustry/ et cetera. Bn"ivi"ualanswers might vary.

&age% 1- 'ifficulty% 6e"ium $$)*+% $nalytic *kills

1,:. B"entify the five key functions of the )6D in lea"ing marketing within the organiCation.

*uggeste" $nswer% ?he five key functions of the )6D in lea"ing marketing within the organiCation are%

B2




81 strengthening #ran"s/ 82 measuring marketing effectiveness/ 8, "riving new3pro"uct "evelopment#ase" on customer nee"s/ 8: getting meaningful customer insights/ 87 utiliCing new marketingtechnology.

&age% 11 'ifficulty% 6e"ium $$)*+% >eflective ?hinking

1,7. $ssume that you have #een given the task of assisting a company in "esigning its marketingplanning process. What components shoul" #e in such a process +e specific in your answer.

*uggeste" $nswer% ?he marketing planning process consists of analyCing marketing opportunities/selecting target markets/ "esigning strategies/ "eveloping marketing programs/ an" managing themarketing effort. *tu"ents might also review !igure 1.; for a""itional information.

&age% 11 'ifficulty% (ar" $$)*+% $nalytic *kills

1,;. )onsumers often have many nee"s that are not rea"ily o#vious. ust o#serving their #ehaviorinsi"e a retail store is not enough to get a true feel for their “nee"s.” Eist an" #riefly "escri#e the fivetypes of nee"s that most consumers have.

*uggeste" $nswer% ?he various consumer nee"s are% 81 state" nee"swhat the consumer says he orshe wantsa car/ 82 real nee"sthe customer wants a car whose operating costs/ not its initial price/is low/ 8, unstate" nee"sthe customer expects goo" service an" honesty from the "ealer/ 8: "elightnee"sthe customer woul" like a 'F' player set3up thrown in to guarantee a =uick signing of the

purchase agreement/ an" 87 secret nee"sinner fantasies such as gaining prestige with mem#ers ofthe opposite sex or frien"s.

&ages% 12G1, 'ifficulty% (ar" $$)*+% $nalytic *kills

1,4. Wal36art knows that to reach its target markets three kin"s of marketing channels may #e use".What are these three marketing channels an" how might Wal36art use each of them

*uggeste" $nswer% ?he three marketing channels are communication/ "istri#ution/ an" service

channels. Wal36art coul" use a"vertising to communicate price specials to consumers 8communicationchannel/ use wholesalers to assem#le merchan"ise assortments to #e sol" in the Wal36art stores8"istri#ution channels/ an" use transportation companies 8service channels to exten" Wal36art’sglo#al reach.

&age% 1: 'ifficulty% (ar" $$)*+% $nalytic *kills

1,<. ?he marketplace isn’t what it use" to #e. Eist an" #riefly "iscuss what new #ehaviors/ new

B4




opportunities/ an" new challenges await the marketer in the 21st century.

*uggeste" $nswer% >esponses to this =uestion shoul" inclu"e% 81 changing technology/ 82 glo#aliCation/8, "eregulation/ 8: privatiCation/ 87 customer resistance/ 8; heightene" competition/ 84 in"ustry

convergence/ 8< retail transformation/ an" 89 "isinterme"iation.

&ages% 17G1; 'ifficulty% (ar" $$)*+% >eflective ?hinking

1,9. ?he "igital revolution has place" a whole new set of capa#ilities in the han"s of consumers an"#usinesses. )onsi"er what consumers have to"ay that they "i"n’t have yester"ay. $s in"icate" in thechapter/ what woul" appear on such a list

*uggeste" $nswer% >esponses to this =uestion shoul" inclu"e% 81 a su#stantial increase in #uyingpower/ 82 a greater variety of availa#le goo"s an" services/ 8, a great amount of information a#outpractically anything/ 8: a greater ease in interacting an" placing an" receiving or"ers/ an" 87 ana#ility to compare notes on pro"ucts an" services.

&age% 1; 'ifficulty% (ar" $$)*+% Ase of B?

1:-. 'iscuss the concept of "isinterme"iation an" provi"e an example.

*uggeste" $nswer% 'isinterme"iation grew out of the rush to em#race the "ot3coms an" e3commerce.5ssentially/ the "ot3coms remove" many of the tra"itional interme"iaries that #rought goo"s an"

services to consumers #y encouraging consumers to "eal "irectly with the "ot3coms via the Bnternet.“+rick3an"3click” #usinesses eventually #rought some of the interme"iaries #ack through a processcalle" reinterme"iation.

&age% 1; 'ifficulty% 6e"ium $$)*+% Ase of B?

1:1. ?he Bnternet has given to"ay’s companies a new set of capa#ilities. $mong those capa#ilities is thea#ility to operate a new information channel. 'escri#e how information can #e use" #y the marketer inthis new channel.

*uggeste" $nswer% )ompanies can operate a powerful new information an" sales channel/ the Bnternet/with augmente" geographical reach to inform an" promote their #usinesses an" pro"ucts worl"wi"e.+y esta#lishing one or more We# sites/ a company can list its pro"ucts an" services/ its history/ its#usiness philosophy/ its Ho# opportunities/ an" other information of interest to visitors. !or a""itionalinformation/ see chapter section.

&age% 14 'ifficulty% 6e"ium $$)*+% Ase of B?

B9




1:2. $rthur ones has "eci"e" to #uil" his manufacturing #usiness 8lawn mowers aroun" thepro"uction concept. Bf this approach is taken/ what will #e 6r. ones’ primary areas of concentration ashe #uil"s his #usiness

*uggeste" $nswer% ?his orientation hol"s that consumers will prefer pro"ucts that are wi"ely availa#lean" inexpensive. 6anagers of pro"uction3oriente" #usinesses concentrate on high pro"uctionefficiency/ low costs/ an" mass "istri#ution. ?his approach is also use" when a company wants toexpan" the market. *tu"ents may use these facts as they "esign their answer.

&age% 1< 'ifficulty% 6e"ium $$)*+% $nalytic *kills

1:,. Bllustrate the "ifferences #etween a reactive market orientation an" a proactive marketingorientation. Iive an example of a company that uses a proactive marketing orientation

*uggeste" $nswer% Bn a reactive market orientation a company might #e content to keep up withun"erstan"ing an" meeting customers’ expresse" nee"s. Bn a proactive market orientation a companysuch as 6otorola might prefer to make a practice of researching an" imagining latent nee"s through a“pro#e3an"3learn” process. *tu"ents’ answers may vary #ut the #asic concepts of reaction an"proactivity shoul" #e clear in answers.

&age% 19 'ifficulty% 6e"ium $$)*+% $nalytic *kills

1::. ?he ultimate outcome of relationship marketing is the #uil"ing of a uni=ue company asset calle" amarketing network. What woul" #e the parts of a marketing network for a motorcycle company such as

(arley3'avi"son

*uggeste" $nswer% $ marketing network consists of the company an" its supporting stakehol"ers. ?hesestakehol"ers 8in (arley3'avi"son’s case might #e customers/ employees/ suppliers/ "istri#utors/retailers/ repair services/ a" agencies/ lo##y groups/ an" motorcycle support clu#s. ?he operatingprinciple is simple% +uil" an effective network of relationships with key stakehol"ers/ an" profits willfollow.


1:7. Ein"a 5vans has #een given the task of "eveloping the pro"uct portion of her company’s marketingmix. Eist the components that will likely #e inclu"e" in this element of the marketing mix.

*uggeste" $nswer% &ro"uct variety/ =uality/ "esign/ features/ #ran" names/ packaging/ siCes/ services/warranties/ an" returns are the key elements of the pro"uct portion of the marketing mix. ?o see amore complete "iagram of the four &s process/ see !igure 1.7.

B5




&age% 2, 'ifficulty% 6e"ium $$)*+% $nalytic *kills

1:;. 'iscuss how companies can use the Bnternet to #uil" their #ran"s. Iive an example of a companythat has "one so.

*uggeste" $nswer% Dnline marketing activities can #e use" to #uil" #ran"s #y increasing consumerexposure to the #ran" an" creating an interactive experience #etween the customer an" the #ran"/giving consumers access not only to company3create" information #ut also consumer3generate"content. !or example/ )arnival )onnections/ an online cruise3#ooking site/ ma"e it easy for cruise fansto compare notes on cruise "estinations an" on#oar" entertainment.

&ages% 2,G2: 'ifficulty% 6e"ium $$)*+% >eflective ?hinking

1:4. 'efine internal marketing an" its role in the company. Dutline how various "epartments within thecompany outsi"e marketing can "emonstrate a customer focus.

*uggeste" $nswer% Bnternal marketing must take place on two levels. $t one level/ the variousmarketing functions must work together. $t the secon" level/ other "epartments must em#racemarketing an" “think customer.” *tu"ents may use ?a#le 1.1 to furnish various examples of customer3centric focus outsi"e the marketing "epartment.

&ages% 2:G27 'ifficulty% (ar" $$)*+% >eflective ?hinking

1:<. $ccor"ing to information provi"e" in the chapter/ 6c'onal"’s has #een involve" in a variety ofcorporate social initiatives. Iive an example of how 6c'onal"’s might initiate cause3relate" marketing/an" "efine what cause3relate" marketing is.

*uggeste" $nswer% )ause3relate" marketing is "onating a percentage of revenues to a specific cause#ase" on revenue occurring "uring the announce" perio" of support. ?he example use" in the chapternote" 6c'onal"’s earmarking of J1 for >onal" 6c'onal" )hil"ren’s )harities from the sale of every +ig6ac an" piCCa sol" on 6c(appy 'ay. *tu"ents may create a""itional examples #ut each shoul" meetthe parameters set a#ove.


1:9. ou have #een given the assignment of Hustifying cause3relate" marketing to your #oar" of"irectors. What woul" #e your primary argument in favor of such a proposal

*uggeste" $nswer% )ompanies see cause3relate" marketing as an opportunity to enhance theircorporate reputation/ raise #ran" awareness/ increase customer loyalty/ #uil" sales/ an" increase press

B<




coverage. ?hey #elieve customers will increasingly look for signs of goo" corporate citiCenship that go#eyon" supplying rational an" emotional #enefits.

&age% 24 'ifficulty% (ar" $$)*+% 5thical >easoning

17-. our firm is in the process of moving from focusing on a financial scorecar" as the #asis for runningan" evaluating your organiCation to a marketing scorecar" approach. What is a marketing scorecar"approach an" what might #e some of its components

*uggeste" $nswer% ?op management is going #eyon" sales revenue alone to examine the marketingscorecar". ?o"ay/ the shift to the marketing scorecar" attempts to interpret what is happening tomarket share/ customer loss rate/ customer satisfaction/ pro"uct =uality/ an" other measures.6anagers know changes in marketing in"icators pre"ict changes in financial results.

&ages% 2;G24 'ifficulty% (ar" $$)*+% >eflective ?hinking

240977731 marketing management quiz bank (1)

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