Marketing Concepts Quiz

Due in a large part to advances in technology, ________ is a major trend whereby product and service producers are bypassing intermediaries and going directly to final buyers, or radically new types of channel intermediaries are emerging to displace traditional ones.

• the vertical marketing system

• the corporate marketing system

• disintermediation

• the corporate merger

• the hostile takeover

You want to observe how often consumers listen to music throughout their day and what different audio devices they use. You are also interested in how consumers store and access their own music collections. You should conduct _______ research.

• Causal

• Experimental

• Secondary

• Exploratory

The six buyer-readiness stages include all of the following EXCEPT

• awareness

• knowledge

• conviction

• hesitation

A(n) ________ is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives.

• team

• competitor

• market

• public

• intermediary

Which product classification is typically purchased frequently, immediately, and with minimal buying effort?

• Unsought Product

• Convenience Product

• Shopping Product

• Specialty Product

Which of the following marketing management concepts is most likely to lead to marketing myopia?

• customer-driven marketing

• customer-driving marketing

• societal marketing

• marketing

• product

A salesperson should seek out, clarify, and overcome any customer objections during the sales presentation in order to ________.

• offer the buyer a discount for placing an order

• minimize the buyer's concerns about the product

• compliment the buyer for mentioning the objections

• turn the objections into reasons for buying

• turn the objections into an opportunity for humor

Analyze how economic factors can impact a company's marketing strategy.

• Economic factors always have a positive impact.

• Companies need to adjust pricing and promotional strategies based on economic conditions.

• Economic factors are irrelevant to marketing decisions.

• Only small businesses are affected by economic factors.

Critically assess how a major shift in technological forces could impact a company's competitive position.

• It will have no impact on the company's competitive position.

• It could provide opportunities for innovation and new product development, enhancing competitive position.

• It will always negatively impact the company's competitive position.

• Technological shifts only affect manufacturing processes.

Which of the following represents the most significant risk to companies using a mass-marketing approach?

• They may not realize economies of scale.

• They may overemphasize the benefits of customized products.

• They may lose customers to niche marketers.

• They may lose customers who feel that mass marketers are invading their privacy.