QUESTION Which of the following, if true, strengthens the argument for dropping the traditional product line? A) Faced with a shrinking market, competitors are dropping their comparable product lines. B) If sales hold up, the company can harvest the product line by reducing costs associated with the plant and equipment, maintenance, R&D, and advertising. C) […]
QUESTION What happened during the production era? What will be an ideal response? ANSWER Answer: Emphasis was on production. The production concept emphasized producing as many goods as possible because there was an unlimited demand. Producers were small time (farmers, tradesmen), goods were handmade and scarce, and demand was high. This represented a seller’s […]
QUESTION Maura works for a huge online shoe seller. Her job is to look through the database of customer buying records so the company will be better able to use one-to-one marketing with its customers going forward. What is the name for what Maura is doing, and what is she looking for? What will be […]
QUESTION When developing a marketing strategy, you need a plan for what three things? What will be an ideal response? ANSWER Answer: (1) for identifying the target market among market segments, (2) for creating the right marketing mix to reach that target market, and (3) for dealing with important forces in the external marketing […]
QUESTION In step three of marketing research (analyze the data: use statistical tools to determine the facts), what might a company have to do with the data it has collected? What will be an ideal response? ANSWER Answer: A company may need to edit data, or check it over to eliminate mistakes. The company […]
QUESTION Jamal is having trouble figuring out his taxes on paper. Walk through Jamal’s experience with the five steps in the consumer buying process for what Jamal needs to think through as far as getting help on his taxes. What will be an ideal response? ANSWER Answer: Sample answer: (1) Jamal first recognizes his […]
QUESTION Which of the following relationships between an organization and its customers is most similar to the relationship described above between Apple and Apple’s “true believers?” A) Walmart customers who shop for jewelry appreciate Walmart’s low prices but do not often reveal that they purchase jewelry there. B) Northern Bear Pet Supplies differentiates itself from […]
QUESTION Explain product, product line, and product mix. What will be an ideal response? ANSWER Answer: A product is a good (which is tangible) or a service (which is intangible) that can satisfy customer needs. A product line is a collection of products designed for a similar market or that are physically similar. A […]
QUESTION Apple benefits from the beliefs of its “true believers” in all of the following ways EXCEPT: A) They are likely to resist the marketing efforts of Apple’s competitors. B) They have lower expectations than other customers, which makes them easier to satisfy. C) They are likely to continue to buy products from existing Apple […]
QUESTION What was the marketing concept era (1950s to 1990s) about? What will be an ideal response? ANSWER Answer: The marketing concept era focused on a three-part marketing concept: (1) Customer satisfaction: “We need to give buyers what they expect from us.” (2) Focus on service: “Everyone, from CEO to stock clerk, should focus […]
