Archive for June 2018

Which of the following is true of follow-up?

Which of the following is true of follow-up? 





A. It increases cognitive dissonance in customers.

B. It is typically done only once after a sale.

C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts.

D. It refers to business owners doing what they said they would do.


Answer: C. Electronic approaches to follow-up dramatically lower the cost of marketing efforts.

The proof of a CRM effort is seen in:

The proof of a CRM effort is seen in: 





A. high levels of cognitive dissonance in customers.

B. more tracked prospects making initial purchases.

C. low levels of customer loyalty in new customers.

D. high levels of inconsistency among customers in terms of experience and belief.


Answer: B. more tracked prospects making initial purchases.

Business owners can figure how to better target ads or promotions to particular types of customers if:

Business owners can figure how to better target ads or promotions to particular types of customers if: 





A. they track sales of their competitors.

B. they identify the defects in their products.

C. they use the diversification strategy rather than the product expansion strategy.

D. they link sales and purchase basis to the type of customer.


Answer: D. they link sales and purchase basis to the type of customer.

If business owners track sales by purchase basis:

If business owners track sales by purchase basis: 





A. they can minimize the cognitive dissonance experienced by their customers.

B. they can predict the performance of their competitors.

C. they can easily decide which marketing efforts to continue.

D. they can find the defects in their products.


Answer: C. they can easily decide which marketing efforts to continue.

Which of the following is most likely to be true regarding customer vector?

Which of the following is most likely to be true regarding customer vector? 





A. It considerably increases cognitive dissonance.

B. It makes it difficult to decide which marketing efforts to continue or expand.

C. It helps marketers in identifying prospective customers.

D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.


Answer: D. It helps entrepreneurs decide how to operate several key aspects of their marketing efforts.

In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made.

In the case of existing customers, _____ gives the information on the date and type of contact, since in many sales situations, it can take repeated contacts before a sale is made. 





A. channel data

B. performance data

C. intercommunication data

D. sales data


Answer: B. performance data

Which of the following is the key to customer relationship management (CRM)?

Which of the following is the key to customer relationship management (CRM)? 





A. Displaying accurate financial records in annual reports

B. Educating customers about a new product or service

C. The data on current or prospective customers

D. The press release and press kit


Answer: C. The data on current or prospective customers

Product expansion is a strategy whose goal is growth, based on:

Product expansion is a strategy whose goal is growth, based on: 





A. selling more of the firm's product or service to the existing customer base.

B. selling in areas or to groups previously not served by the business.

C. selling existing customers a product or service they have never bought before.

D. adding new products or services to the firm's existing collection of offerings.


Answer: C. selling existing customers a product or service they have never bought before.

Customer loyalty programs focus on developing a strategy that is based on:

Customer loyalty programs focus on developing a strategy that is based on: 





A. selling more of the firm's product or service to the existing customer base.

B. selling in areas or to groups previously not served by the business.

C. selling existing customers a product or service they have never bought before.

D. adding new products or services to the firm's existing collection of offerings.



Answer: A. selling more of the firm's product or service to the existing customer base.

Which of the following is true of cognitive dissonance?

Which of the following is true of cognitive dissonance? 





A. It is the consistency between experience and belief.

B. It happens frequently especially with more expensive items.

C. It almost always happens with purchases that are not considered risky.

D. It is a doubt that occurs before making a purchase.


Answer: B. It happens frequently especially with more expensive items.

Closing a sale refers to:

Closing a sale refers to: 





A. asking for a referral from a prospective customer.

B. being turned down by a prospective customer.

C. delaying the decision to make a new product.

D. obtaining a commitment from the customer.


Answer: D. obtaining a commitment from the customer.

Which of the following is true of personal selling?

Which of the following is true of personal selling? 





A. It involves activities used to establish and promote a favorable opinion by the media.

B. It does not allow you to find out the buyers' main concerns.

C. It involves entering into a joint venture with a competitor.

D. It allows a business owner to be flexible in his or her presentation.


Answer: D. It allows a business owner to be flexible in his or her presentation.

Greg has a press release for his new product that he wants to broadcast on television. His press release has a good story and visuals. It also includes content that illustrates broad cultural themes. Which of the following is Greg most likely to generate through the press release?

Greg has a press release for his new product that he wants to broadcast on television. His press release has a good story and visuals. It also includes content that illustrates broad cultural themes. Which of the following is Greg most likely to generate through the press release? 





A. Public recognition

B. Public interest

C. Public importance

D. Issue recognition


Answer: B. Public interest

Proximity refers to:

Proximity refers to: 





A. a concept in public interest which alludes to events with a broad appeal within the market or population.

B. a concept in public recognition which alludes to the impact level of the issue being discussed.

C. a concept in public interest which alludes to the graphic interest held by an event.

D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.


Answer: B. a concept in public recognition which alludes to the impact level of the issue being discussed.

Trendiness refers to:

Trendiness refers to: 





A. a concept in public interest which alludes to events with a broad appeal within the market or population.

B. a concept in public recognition which alludes to the impact level of the issue being discussed.

C. a concept in public interest which alludes to the graphic interest held by an event.

D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.


Answer: D. a concept in public recognition which alludes to the fit of the topic to current fashion or public interest.

Which of the following is an example of sales promotion?

Which of the following is an example of sales promotion? 





A. Tara's Attire adds kids clothing to its existing range of clothes.

B. Sammy Jams advertises about its new jam through billboards.

C. Treats Today gives away samples of its new healthy donuts for free.

D. Yen Yoga passes out flyers to advertise about a new yoga center in the Holmesville.


Answer: C. Treats Today gives away samples of its new healthy donuts for free.

Harry Howard, a successful real estate broker, has established his own real estate company in western Pennsylvania. He has on-the-job experience working at a real estate company where he had a whole staff supporting brokers' work. Now on his own, with two secretaries, Harry is building his dream of owning and growing his own business. He wants to mainly focus on middle-to-upper-income homeowners and is exploring what type of promotional material he needs to have. Which of the following would be the fastest way for Harry to build his client base?

Harry Howard, a successful real estate broker, has established his own real estate company in western Pennsylvania. He has on-the-job experience working at a real estate company where he had a whole staff supporting brokers' work. Now on his own, with two secretaries, Harry is building his dream of owning and growing his own business. He wants to mainly focus on middle-to-upper-income homeowners and is exploring what type of promotional material he needs to have. Which of the following would be the fastest way for Harry to build his client base? 





A. Word-of-mouth

B. Full-scale advertising

C. Personal selling

D. Sales promotion


Answer: A. Word-of-mouth

Which of the following is true of promotional novelties?

Which of the following is true of promotional novelties? 





A. They explain the competitive strategies of the company to the readers.

B. They must be large enough to read by passing traffic.

C. They include stories of customers whose problems were solved.

D. They are given to key customers or as gifts to employees.


Answer: D. They are given to key customers or as gifts to employees.

Which of the following is most likely to be true of signs as a form of advertising?

Which of the following is most likely to be true of signs as a form of advertising? 





A. They must be large enough to read by passing traffic.

B. They generally contain the balance sheet of the company.

C. They describe the competitive strategies of the company.

D. They include stories of customers whose problems were solved.


Answer: A. They must be large enough to read by passing traffic.

Which of the following is a characteristic feature of sales packets?

Which of the following is a characteristic feature of sales packets? 





A. They are usually large enough to read by passing traffic.

B. They provide potential customers an education in a firm's product or service.

C. They generally consist of pens or small calendars which are printed with the name and slogan of the company.

D. They are generally hand-written.


Answer: B. They provide potential customers an education in a firm's product or service.

Which of the following provides potential customers an education in a firm's product or service, including stories of customers' whose problems were solved, an FAQ list, as well as a page on the products or services, and a page on the business owner and his or her firm?

Which of the following provides potential customers an education in a firm's product or service, including stories of customers' whose problems were solved, an FAQ list, as well as a page on the products or services, and a page on the business owner and his or her firm? 





A. Promotional novelties

B. Sales packets

C. Business cards

D. Brochures


Answer: B. Sales packets

Which of the following is a characteristic feature of brochures and flyers?

Which of the following is a characteristic feature of brochures and flyers? 





A. They contain the annual balance sheet of the company.

B. They include stories of customers whose problems were solved.

C. They give more information about a firm and its products than business cards.

D. They provide word-of-mouth advertising.


Answer: C. They give more information about a firm and its products than business cards.

Which of the following is true of advertising?

Which of the following is true of advertising? 





A. It is the least likely to be used by businesses to convey their message to potential customers.

B. It works if an ad's impression is positive even if people do not recall it.

C. It works if people recall an ad even though it did not have a positive impact on them.

D. It involves presentation of a company's image.


Answer: D. It involves presentation of a company's image.

Which of the following is a characteristic feature of a message for a target market?

Which of the following is a characteristic feature of a message for a target market? 





A. It is repeated less often.

B. It must contain the elements of a product's value proposition.

C. It must be abstract.

D. It must always be distinctive from target customers.


Answer: B. It must contain the elements of a product's value proposition.

Which of the following terms refers to small business owners' unique selling points that will be used to differentiate their products and/or services from those of the competition?

Which of the following terms refers to small business owners' unique selling points that will be used to differentiate their products and/or services from those of the competition? 





A. Sales lead

B. Value proposition

C. Trendiness

D. Segmentation


Answer: B. Value proposition

How often should you do a marketing plan?

How often should you do a marketing plan?




a. When you do a business plan
b. Whenever you add new products or services
c. When your competition significantly changes
d. All of the above, plus one a year



Answer: d. All of the above, plus one a year

Your marketing plan should be written as _____

Your marketing plan should be written as _____




a. An action plan
b. A general guideline to what you'd like to do
c. An overall strategy
d. A day-to-day scheduled of marketing events


Answer: a. An action plan

The four P's are product, price, ___

The four P's are product, price, ___



a. Promotion and public relations
b. People and place
c. Promotion and people
d. Place and promotion


Answer: d. Place and promotion

A direct competitor to Domino's Pizza would be

A direct competitor to Domino's Pizza would be




a. Pizza Hut
b. Totino's frozen pizza
c. Homemade, "from scratch" pizza
d. McDonald's


Answer: a. Pizza Hut

Your indirect competition are those firms who

Your indirect competition are those firms who




a. Advertise in different ways that you do
b. Appeal to different target markets than you do
c. Offer products or services that are alternatives for using your product or service
d. Distribute their products to different locations than you do.


Answer: c. Offer products or services that are alternatives for using your product or service

SWOT analysis is often used to:

SWOT analysis is often used to:




a. Identify your competition
b. Define your target market
c. Clarify your current situation
d. Outline your marketing strategy


Answer: c. Clarify your current situation

Why do companies target? All of the following reasons EXCEPT:

Why do companies target? All of the following reasons EXCEPT:




a. In order not to waste efforts trying to sell to people who don't want their products
b. In order to find the best places to reach these people with their promotional efforts
c. In order to write business plans that will convince investors to loan them money.
d. In order to locate their products where these people are likely to shop


Answer: c. In order to write business plans that will convince investors to loan them money.

Life cycle position is a combination of age and

Life cycle position is a combination of age and




a. Family situation
b. Ethnicity
c. Personality
d. Geographic location


Answer: a. Family situation

In segmenting, marketers look for groups of people who

In segmenting, marketers look for groups of people who




a. Look alike
b. Have similar needs for a particular product/service
c. Live geographically close
d. Have the same demographics


Answer: b. Have similar needs for a particular product/service

Your product's or service's differential advantage answers which of the following questions?

Your product's or service's differential advantage answers which of the following questions?




a. Why would customers buy my product/service and not my competitors?
b. Why would customers pay more for my product/service than my competitors?
c. What should I tell customers in my advertising to get them interested enough to seek out my product/service?
d. It can answer all three of these questions.


Answer: d. It can answer all three of these questions.

Once Josephine has a good number on potential customers, the next thing she should be concerned about to do her sales forecast:

Once Josephine has a good number on potential customers, the next thing she should be concerned about to do her sales forecast:




a. Finding out their preferences for the services they want
b. Seeing how the potential number of customers fits Josephine's capacity and what she needs to make a profit
c. Figuring out what the competition will do once she opens
d. Get a loan from her bank


Answer: b. Seeing how the potential number of customers fits Josephine's capacity and what she needs to make a profit

Josephine is opening a beauty shop just down the street from the shop where she used to work. She's planning to be open the hours her former salon is closed. To forecast how many customer she might have, Josephine might:

Josephine is opening a beauty shop just down the street from the shop where she used to work. She's planning to be open the hours her former salon is closed. To forecast how many customer she might have, Josephine might:




a. Find out how many customers at her current salon ask for appointments outside the hours the salon is open.
b. Visit her site during the hours she plans to be open and stop passersby to see if they'd use this service if available.
c. Send out a mailed survey to everyone within a 5 mile radius.
d. All are potentially good ways of helping Josephine estimate her customers



Answer: d. All are potentially good ways of helping Josephine estimate her customers

Midwest University has a new policy stating that all incoming freshman must purchase a laptop computer through the university's computer store. In order to forecast sales of laptops computers at Midwest University, which would be the most helpful?

Midwest University has a new policy stating that all incoming freshman must purchase a laptop computer through the university's computer store. In order to forecast sales of laptops computers at Midwest University, which would be the most helpful?




a. A mail survey of incoming freshmen
b. The number of high school seniors who have said they are coming to Midwest University
c. Traffic counts outside the computer store
d. A focus group of parents of high school seniors



Answer: b. The number of high school seniors who have said they are coming to Midwest University

Which of the following is NOT true of open-ended questions?

Which of the following is NOT true of open-ended questions?




a. They can help you find a new market niche
b. They can capture information scalar questions cannot
c. They are easy to analyze statistically
d. They are useful for gathering preliminary data



Answer: c. They are easy to analyze statistically

What is a problem associated with mail surveys?

What is a problem associated with mail surveys?




a. Low return rates
b. Cost
c. Many people do not have addresses
d. Difficulty to find addresses


Answer: a. Low return rates

Watching people and recording their actions is:

Watching people and recording their actions is:




a. Ethnographic research
b. Using a focus group
c. Using secondary data
d. Survey research


Answer: a. Ethnographic research

The advantage of secondary research is that it

The advantage of secondary research is that it




a. Is quick and often free
b. Is timely
c. Is accurately collected
d. Exactly answers your questions


Answer: a. Is quick and often free

The advantages of primary research is that it:

The advantages of primary research is that it:




a. Is quick
b. Is cheap
c. Exactly answers your question
d. Doesn't need to be statistically analyzed


Answer: c. Exactly answers your question

With marketing research you can find out:

With marketing research you can find out:




a. Where your customers shop
b. What they consider a fair price
c. How large of a market you have
d. All of the above


Answer: d. All of the above

The marketing plan:

The marketing plan:




a. Provides a roadmap for your marketing department
b. Is an essential piece of the business plan
c. Fully examines your current situation and your competition
d. All of the above



Answer: d. All of the above

History shows that as many as 75% of all new products fail; this is mostly because:

History shows that as many as 75% of all new products fail; this is mostly because:




a. They were bad products
b. There were environmental problems (e.g., poor economy) that caused them to fail
c. They were marketed poorly
d. The entrepreneurs that introduced them were lazy



Answer: c. They were marketed poorly

Subscribe to: Posts (Atom)