WorksheetsMarketing
Total questions: 20
Worksheet time: 10mins
According to the five-step model of the marketing process, a company should ________ before designing a customer-driven marketing strategy.
determine how to deliver superior value to customers
build profitable relationships with customers
use customer relationship management to create full partnerships with key customers
understand the marketplace and customer needs and wants
Which of the following is NOT an accurate description of modern marketing?
Marketing is the creation of value for customers.
Marketing involves managing profitable customer relationships.
Marketing emphasizes selling and advertising exclusively.
Marketing involves satisfying customers' needs.
Which of the following marketing orientations calls for aggressive promotional efforts and focuses on creating transactions rather than long-term customer relationships?
the marketing concept
the production concept
the product concept
the selling concept
Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.
products and technologies result in low returns on investment.
consumer preferences with regard to products and technology are difficult to predict.
consumer preferences for different product categories vary from time to time.
products and technologies eventually become outdated.
A market segment consists of consumers who respond in different ways to a given set of marketing efforts.
TRUE
FALSE
________ consists of evaluating each market segment's attractiveness and selecting one or more segments to enter.
Positioning
Mass customization
Market targeting
Market segmentation
Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals.
demographic segmentation
geographic segmentation
benefit segmentation
psychographic segmentation
A public relations firm tailors its advertising and promotional services according to the needs and preferences of specific customers. This exemplifies ________.
trigger-based marketing
mass marketing
segmented marketing
individual marketing
Product planners need to consider products and services on three levels. At the second level, product planners must ________.
offer additional product support and after-sale services.
identify the core customer value that consumers seek from the product.
turn the core benefit into an actual product.
find out how they can create the most satisfying brand experience.
________ means that service quality depends on the quality of buyer-seller interaction during the service encounter.
Interactive marketing
Service differentiation
Service productivity
Corporate image marketing
New product development starts with ________.
concept development
idea screening
idea generation
concept testing
Which of the following is true with regard to value-added pricing?
Companies that practice value-added pricing typically match the competition by cutting prices.
Companies practicing value-added pricing differentiate their offers by attaching value-added features to offerings that, in turn, justify higher prices.
The intrinsic value of products sold by companies practicing value-added pricing is far less than their actual selling price.
Companies practicing value-added pricing primarily rely on cost differentiation.
Which of the following is true of price skimming?
It is effective in situations in which competitors are able to undercut prices easily.
It can be profitably used when the product's quality and image support its price.
It involves underpricing products so that companies make larger sales.
It is ineffective in situations in which competitors are unable to enter the market easily.
A ________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.
product line
product delivery network
marketing channel
consumer base
Lifebelt Insurance sells insurance only through its door-to-door salespeople. What type of marketing channel does Lifebelt use?
inclusive
multitiered
indirect
direct
Extel Inc., a home appliance manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of ________.
sales promotion
personal selling
public relations
direct marketing
Advertising involves a personal presentation by the firm's sales force for the purpose of making sales and building customer relationships.
TRUE
FALSE
Companies are doing less ________ and more ________ as a result of the explosive developments in communication technologies to better target smaller customer segments.
personal selling; digital activities
public relations activities; digital activities
digital activities; mass marketing
mass marketing; engagement marketing
The manufacturer of Crest toothpaste provides free samples of its toothpaste to dentists and encourages them to distribute these samples to their patients and to inform the patients about advantages of using Crest. The manufacturer of Crest toothpaste is using ________.
sales promotion
direct marketing
a push strategy
a pull strategy
Boson Corp. is introducing consumers to its new car with the help of an advertisement campaign. This introductory campaign most likely aims to affect the ________ stage of buyer-readiness.
liking
awareness
preference
insistence
