During which stage of the business buying process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensive?
Question 25 options:
1) general need recognition
2) product specification
3) proposal solicitation
4) order-routine specification
5) performance review
Question 26 (2 points)
Josie enjoys her work at Futuristic Designs Inc. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet existing and latent needs, now and in the future. Josie’s firm practices ________ marketing.
Question 26 options:
1) product concept
5) production concept
Evans and Hills has developed a new line of specialty teas positioned directly against its competitor, Milton Brews. Evans and Hills has pitched its plan to recapture its lost market share on this line of specialty teas and is seeking regular inputs from the test marketing process. To facilitate this process, it is using BuyerScan, a software that generates store-by-store, week-by-week reports on the actual sales of tested products and the impact of in-store and in-home marketing efforts. This scenario illustrates the ________.
Question 27 options:
1) traditional test marketing approach
2) just-in-time inventory tracking approach
3) controlled test market approach
4) simulated test approach
5) direct commercialization approach
The concept of ________ holds that a company’s marketing should support the best long-run performance of the marketing system.
Question 28 options:
2) global marketing
3) sustainable marketing
4) differential marketing
5) consumer-oriented marketing
A convenience store is most likely to be ________.
Question 29 options:
1) operating in commercial centers away from residential hubs
2) stocking a narrow product line with deep assortment
3) carrying a limited line of high-turnover daily needs products
4) charging consumers significantly lower prices than retail stores
5) providing consumers full service in making purchase decisions
Restrictive product standards is an example of ________.
Question 30 options:
4) nontariff trade barriers
5) exchange controls
Question 31 (2 points)
_______ ventures consist of one company collaborating with foreign investors to create a local business in which they share possession and control.
Question 31 options:
2) Direct investment
3) Contract manufacturing
4) Management contracting
5) Joint ownership
Advertainment is an example of a ________ advertising technique.
Question 32 options:
2) public service
4) Madison & Mine
________ is an example of a virtual world.
Question 33 options:
4) Second Life
Timberland employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. CEO Jeffrey Swartz sees such service as a powerful differentiator for Timberland with its current and potential customers. Timberland could be most accurately described as practicing ________.
Question 34 options:
2) environmental sustainability
3) sustainability vision
4) innovative marketing
5) sense-of-mission marketing
In the logistics system, minimum distribution costs imply ________.
Question 35 options:
1) flexible assortments
2) larger shipping lots
3) rapid delivery
4) large inventories
5) liberal returns policies
Question 36 (2 points)
McDonald’s, Subway, and Pizza Hut are all examples of ________ organizations.
Question 36 options:
2) retailer cooperative
5) corporate chain
In a SWOT analysis, ________ refer to external factors that the company may be able to exploit to its advantage.
Question 37 options:
Newspapers, as a medium of advertising, provide poor local market coverage.
Question 38 options:
Several companies, some of them operating through the Internet, offer “paycheck advances.” Consumers are encouraged to take out a loan against a paycheck they expect to receive in the near future. These short-term loans with high-interest rates, and high penalties for late payments, are often marketed to consumers who do not have traditional bank accounts. These companies could most easily be criticized for which of the following?
Question 39 options:
1). shoddy products
2). poorly serving disadvantaged consumers
3). high-pressure selling
4). high advertising and promotion costs
5). predatory pricing
In evaluating different market segments, a firm must look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.
Question 40 options:
Question 41 (2 points)
MTV targets the world’s teenagers, who have similar needs and buying behaviors even though they are located in different countries. This is called ________ segmentation.
Question 41 options:
1). political and legal