Question 1

Kevin Jackson owns a general contracting company. The way Kevin prices his services is to figure his cost and then add a 33 percent markup. The method that Kevin uses to determine his prices is called ________-based pricing.

Accepted Answer

A)   economic
B)   value
C)   competitive
D)   cost
E)   conformityF) None of the above
G) B) and C)

Question 2

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called ________.

Accepted Answer

A)   market positioning
B)   market splitting
C)   market targeting
D)   market subdividing
E)   market segmentationF) B) and E)
G) A) and E)

Question 3

Before Kimberly Campbell opened her jiffy print store, she processed several large print jobs for local merchants for free, to demonstrate the quality of her service and to solicit feedback. Two of the merchants wrote favorable reviews of Kimberly's service, and agreed to let Kimberly post the reviews on her company's Web site. The companies that wrote the favorable reviews are referred to as ________.

Accepted Answer

A)   appreciation reports
B)   acknowledgement accounts
C)   referent accounts
D)   tribute reports
E)   approval reportsF) All of the above
G) A) and C)

Question 4

The first step in the formal sales process described in the book is ________.

Accepted Answer

A)   qualify the lead
B)   make the sales presentation
C)   prospect for sales leads
D)   meet objections and concerns
E)   make the initial contactF) A) and E)
G) C) and D)

Question 5

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Accepted Answer

A)   conception
B)   idea
C)   formation
D)   product
E)   inventionF) A) and E)
G) C) and D)

Question 6

Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.

Accepted Answer

A)   focal
B)   objective
C)   target
D)   critical
E)   intentionF) B) and D)
G) B) and C)

Question 7

A ________ is something that takes on a physical form, such as a smartphone or a laptop computer. A ________ is an activity or benefit that is intangible, such as an airplane trip or advice from an accountant.

Accepted Answer

A)   product; service
B)   service; component
C)   component; service
D)   formation; service
E)   service; productF) A) and E)
G) B) and D)

Question 8

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Accepted Answer

A)   Create a unique positioning strategy, Select a target market, Segment the market
B)   Segment the market, Create a unique positioning strategy, Select a target market
C)   Segment the market, Select a target market, Create a unique positioning strategy
D)   Select a target market, Create a unique positioning strategy, Segment the market
E)   Create a unique positioning strategy, Segment the market, Select a target marketF) D) and E)
G) B) and C)

Question 9

The 4Ps of marketing refer to a company's ________.

Accepted Answer

A)   tactical mix
B)   promotional blend
C)   organizational mix
D)   marketing mix
E)   selling mixF) All of the above
G) A) and D)

Question 10

What is a brand? How does a new firm develop a brand?

Accepted Answer

A brand is the set of attributes-positiv...

Question 11

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Accepted Answer

A) True 
 B)False

Question 12

A firm's marketing mix is the assortment of products and services that it sells.

Accepted Answer

A) True 
 B)False

Question 13

The What Went Wrong feature in Chapter 11 focuses on a series of missteps at JCPenney under the tenure of then CEO Ron Johnson. According to the feature, Johnson's three most damaging marketing-related mistakes were ________.

Accepted Answer

A)   no testing of ideas in advance, poor product quality, and poor sales training for employees
B)   reluctance to embrace online sales, a shift from value-based to cost-based pricing, and poor sales training for employees
C)   poor product quality, a total misread of JCPenney's brand, and poor use of social media
D)   Fair and Square Pricing, no testing of ideas in advance, and a total misread of JCPenney's brand
E)   poor use of social media, Fair and Square Pricing, and poor sales training for employeesF) A) and D)
G) C) and E)

Question 14

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Accepted Answer

Guerrilla marketing is a low-budget appr...

Question 15

According to the textbook, a brand is all of the following except a(n)  ________.

Accepted Answer

A)   firm's reputation
B)   firm's credentials
C)   indicator of trust and reduced risk
D)   description of a company's nature
E)   written warrantyF) B) and C)
G) A) and B)

Exam 11: Unique Marketing Issues

The 4Ps of marketing refer to a company's ________.

Correct Answer
verified

What is a brand? How does a new firm develop a brand?

Correct Answer
verified
A brand is the set of attributes-positiv...
View Answer

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Correct Answer
verified

Correct Answer
verified

Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.

Correct Answer
verified

The first step in the formal sales process described in the book is ________.

Correct Answer
verified

The What Went Wrong feature in Chapter 11 focuses on a series of missteps at JCPenney under the tenure of then CEO Ron Johnson. According to the feature, Johnson's three most damaging marketing-related mistakes were ________.

Correct Answer
verified

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called ________.

Correct Answer
verified

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Correct Answer
verified

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Correct Answer
verified
Guerrilla marketing is a low-budget appr...
View Answer

A is something that takes on a physical form, such as a smartphone or a laptop computer. A is an activity or benefit that is intangible, such as an airplane trip or advice from an accountant.

Correct Answer
verified

According to the textbook, a brand is all of the following except a(n) ________.

Correct Answer
verified

Kevin Jackson owns a general contracting company. The way Kevin prices his services is to figure his cost and then add a 33 percent markup. The method that Kevin uses to determine his prices is called ________-based pricing.

Correct Answer
verified

A firm's marketing mix is the assortment of products and services that it sells.

Correct Answer
verified

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Correct Answer
verified

Exam 11: Unique Marketing Issues

The 4Ps of marketing refer to a company's ________.

Correct AnswerverifiedShow Answer

What is a brand? How does a new firm develop a brand?

Correct AnswerverifiedA brand is the set of attributes-positiv...View AnswerShow Answer

A firm's ________, in the context of its marketing mix, is the good or service it offers to its target market.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying to appeal to is called his ________ market.

Correct AnswerverifiedShow Answer

The first step in the formal sales process described in the book is ________.

Correct AnswerverifiedShow Answer

The What Went Wrong feature in Chapter 11 focuses on a series of missteps at JCPenney under the tenure of then CEO Ron Johnson. According to the feature, Johnson's three most damaging marketing-related mistakes were ________.

Correct AnswerverifiedShow Answer

The first step in selecting a target market is to study the industry in which the firm intends to compete and determine the different potential target markets in that industry. This process is called ________.

Correct AnswerverifiedShow Answer

Markets can be segmented in a number of ways, including by geography, demographic variables, psychographic variables, behavioral variables, and product type.

Correct AnswerverifiedShow Answer

Describe the concept of guerrilla marketing. Why is guerrilla marketing particularly suitable for entrepreneurial firms?

Correct AnswerverifiedGuerrilla marketing is a low-budget appr...View AnswerShow Answer

A ________ is something that takes on a physical form, such as a smartphone or a laptop computer. A ________ is an activity or benefit that is intangible, such as an airplane trip or advice from an accountant.

Correct AnswerverifiedShow Answer

According to the textbook, a brand is all of the following except a(n) ________.

Correct AnswerverifiedShow Answer

Kevin Jackson owns a general contracting company. The way Kevin prices his services is to figure his cost and then add a 33 percent markup. The method that Kevin uses to determine his prices is called ________-based pricing.

Correct AnswerverifiedShow Answer

A firm's marketing mix is the assortment of products and services that it sells.

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence of events to the process of selecting a target market and position strategy?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified
A brand is the set of attributes-positiv...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Guerrilla marketing is a low-budget appr...
View Answer

A is something that takes on a physical form, such as a smartphone or a laptop computer. A is an activity or benefit that is intangible, such as an airplane trip or advice from an accountant.

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified