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Marketing
Q:
Measuring advertising effectiveness means assessing advertising's impact on sales.
Q:
E-channels can be used by business marketing firms for:
a. information platforms.
b. transaction platforms.
c. customer relationship management platforms.
d. All of the above.
e. Only b and c.
Q:
To diagnose the sources of competitive advantage, domestic or international, Michael Porter divides the chain of activities performed by a firm into distinct groups. Describe Porter's value chain concept and explore its relevance to international strategy.
Q:
The most profitable customers are those that have a high____________________and a low____________________.
Q:
The organizational buyer may read every word of the ad copy, and find a meaning in it quite opposite from that intended by the advertiser.
Q:
Use of a direct sales force is best for:
a. highly customized solutions.
b. smaller customers.
c. complex products.
d. All of the above.
e. Only a and c.
Q:
Some experts emphasize that since customer needs are becoming increasingly homogeneous worldwide, the opportunity exists to sell the same type of product across countries and to use essentially the same marketing strategy around the globe. If customers respond favorably to a strategy in St. Louis, will the same strategy work in London or Tokyo? While a standardized approach might work for Coke or Levi's, will it work for business marketers like Dow Chemical or Hewlett-Packard? Explain.
Q:
Value is best defined as the economic, technical, service and social benefits received by a customer firm in exchange for the:
Q:
The planning and budgeting for trade shows must focus on specific objectives to be accomplished.
Q:
Which of the following are tasks that are performed by channels of distribution?
a. Arranging financing.
b. Storage.
c. Transportation.
d. All of the above.
e. Only b and c.
Q:
Additional insights into international strategy can be gained by examining two dimensions of competition in the global market:____________________and____________________.
Q:
A cross-functional process for achieving a continuing dialogue with customers, with personalized treatment of the most valuable customers and ensuring customer retention and the effectiveness of marketing initiatives is known as:
Q:
From the business marketer's perspective, the cost-per-thousand calculations for various media options should be based on circulation to the target audience, not the total audience.
Q:
Techniques for motivating individual channel members include all of the following except:
a. dealer advisory councils.
b. competitive compensation.
c. building trust.
d. better planning by the business marketer.
e. product training for channel members.
Q:
A global industry is one in which a firm's ____________________ in one country is significantly influenced by its position in other countries.
Q:
Once a firm implements an Activity-Based Costing approach, and plots cumulative profitability against customers, a striking pattern emerges that is known as:
Q:
Organizational buyers tend to retain messages that clash with their attitudes, needs, and beliefs.
Q:
When evaluating channel alternatives, if the feasible system lies between the ideal and existing system,
a. the existing system can be changed without sacrificing management goals.
b. relaxing management constraints might produce even greater benefits.
c. the fault is not with the channel design, it is with poor management.
d. (a) and (b) only.
e. (a) and (c) only.
Q:
Multinational firms have traditionally managed operations outside their home country with ____________________ that permit individual subsidiaries to compete independently in their home country markets.
Q:
In a collaborative exchange, the supply market dynamism would best be described as:
Q:
Business-to-business advertising objectives are usually stated in terms of a specific sales goal.
Q:
When evaluating channel alternatives, if the existing channel is about as good as it can be and if customer satisfaction is low,:
a. an alternative channel should be utilized.
b. the fault is not with the channel design, it is with poor management.
c. the existing system can be changed without sacrificing management goals.
d. none of the above.
Q:
____________________offer a number of benefits, such as access to markets or technology, economies of scale in manufacturing and marketing, and the sharing of risk among partners.
Q:
When the focus of the selling firm shifts from attracting customers to keeping customers, these exchanges are best described as:
Q:
Generally, social media can augment an offering to expand the value proposition, thereby changing what people buy and how they relate to a brand
Q:
When evaluating alternative channels, the critical element is to compare both systems on the basis of:
a. customer service.
b. performance.
c. structure.
d. costs.
e. all of the above.
Q:
____________________involves sourcing a product from a producer located in a foreign country for sale there or in other countries.
Q:
The whale curve of cumulative probability demonstrates that the most profitable 20 percent of customers generate between 150 and 300 percent of total profits.
Q:
Most industrial firms spend roughly the same amount of dollars on advertising as they do on personal selling.
Q:
The primary reason for using more than one type of intermediary for the same product is:
a. the gross margin is not large.
b. the product tends toward technical complexity.
c. different market segments require different channel structures.
d. the product is not standard, but is closer to made-to-order.
Q:
An industrial firm's first foray into an overseas market usually involves____________________because it requires the least commitment and risk.
Q:
The contribution of a firm's customer-relating capability to the firm's position of advantage depends on the degree to which the market offers an attractive opportunity.
Q:
Indices of trade show performance include:
a. attraction.
b. contact.
c. conversion efficiency.
d. All of the above.
e. Only (b) and (c).
Q:
The manufacturer-rep channel is generally used when the:
a. gross margin is large.
b. product is not technically complex.
c. product is not standard, but is closer to made-to-order.
d. all of the above.
Q:
In China's steel industry, their main source of competitive advantage is due not to cheap labor, but rather massive government energy ____________________.
Q:
Having a relationship orientation is critical to developing a customer-relating capability.
Q:
Which of the following represent common trade-show objectives?
a. Identification of decision influencers.
b. Handling current customer problems.
c. Providing product, service, and company information.
d. All of the above.
e. Only (a) and (c).
Q:
Manufacturer reps are most likely used:
a. by large firms.
b. when there is unlimited market potential.
c. to eliminate significant overhead costs.
d. all of the above.
e. (a) and (c) only.
Q:
The realized net savings after logistics costs, other management costs, and import duties involved in moving the product from the RDE to the market destination is referred to as ____________________costs.
Q:
All customers hold similar amounts of growth potential.
Q:
Which of the following factors should be considered when planning an effective trade show communications strategy?
a. The focus of the marketing efforts.
b. The appropriate show mix.
c. The functions performed by the trade show in the total marketing communications program.
d. All of the above.
e. Only (a) and (c).
Q:
A recent poll asked distributors which business strategies would have the largest impact on them in the future. The top two factors were:
a. collaboration with supply chain partners.
b. new information technologies.
c. the increase in general-line distributors
d. (a) and (b) only.
e. (b) and (c) only.
Q:
The primary reason that companies are moving to sourcing from Rapidly Developing Economies is due to very large and sustainable ____________________ from lower operating costs and lower capital investment requirements.
Q:
Firing a customer may be appropriate if the customer is not profitable, not new, and shows little or no opportunity for learning.
Q:
The benefits of having a trade show exhibit to business marketers include:
a. the ability communicate with a large and interested audience.
b. free publicity.
c. the generation of sales leads.
d. All of the above.
e. Only (a) and (c).
Q:
There is a trend toward _____ as a result of increasing technical complexity of products.
a. general-line distributors
b. specialists
c. combination houses
d. none of the above
Q:
Multidomestic industries do not need a global strategy because the focus should be on developing a series of distinct domestic strategies.
Q:
Total cost of ownership illuminates exactly what activities are associated with serving a particular customer and how these activities are linked to revenues and the consumption of resources.
Q:
Recent research has indicated that the indirect communication effects of advertising include:
a. increased word-of-mouth communications.
b. increased overall company reputation.
c. improved logistics performance.
d. All of the above.
e. Only (a) and (b).
Q:
_____ cater to a broad array of industrial goods.
a. Specialists
b. General-line distributors
c. A combination house.
d. none of the above.
Q:
Configuration centers on where each activity is performed, including the number of locations.
Q:
Relationship commitment involves a partner's belief than an ongoing relationship is so important that it deserves maximum efforts to maintain it.
Q:
Characteristics of effective B2B print ads include:
a. the use of a "rational approach."
b. a clear description of the product and its benefits.
c. a detailed listing of most pricing considerations.
d. All of the above.
e. Only (a) and (b).
Q:
The industrial distributor's primary responsibilities include:
a. contact.
b. repair.
c. product availability.
d. all of the above.
e. (a) and (c) only.
Q:
Arguments over profit-sharing and management styles are common problems experienced in exporting.
Q:
Collaborative exchange features very close information, social, and operational linkages as well as mutual commitments made in expectation of long-run benefits.
Q:
Horizontal publications are more effective for business marketers when:
a. their product has applications in only a few industries.
b. many industries are potential users
c. well-defined functions are the principal buying influencers.
d. All of the above.
e. Only (b) and (c).
Q:
A direct sales force is best used for:
a. highly standardized solutions.
b. small customers.
c. simple transactions.
d. complex products.
Q:
A firm whose products are technically complex and are protected by U.S. patents is a good candidate for relocating to a rapidly developing economy.
Q:
While loyal customers are likely to be satisfied, all satisfied customers will not remain loyal.
Q:
The important elements of perception include:
a. attention.
b. interpretation.
c. benefits.
d. Only (a) and (b).
e. Only (b) and (c).
Q:
Robert Morgan and Shelby Hunt suggest that relationship commitment and trust develop when:
a. firms align themselves with partners that have distinctly different corporate values.
b. firms share valuable information on expectations, markets, and performance.
c. firms offer benefits and resources that are superior to what other partners could offer.
d. all of the above.
e. (b) and (c) only.
Q:
A factory in a rapidly developing economy can be built with 70% of the investment level needed in a highly developed economy.
Q:
The cost of serving a long-standing customer is often more than the cost of acquiring a new customer.
Q:
Which of the following are advantages of the objective-task method of setting advertising budgets?
a. Advertising is determinant of results, not a consequence.
b. Easy to use and familiar to management.
c. Must use instinct for identifying proper level of expenditures to reach goals.
d. All of the above.
e. Only (a) and (c).
Q:
Manufacturers who wish to strengthen the dependence that channel members have on them could:
a. increase commissions.
b. encourage channel members to carry the firm's full product line.
c. increase promotion to enhance the profitability of channel members.
d. all of the above
e. (b) and (c) only
Q:
The two primary sources of cost advantages driving firm to implement operations in rapidly developing economies are lower operating costs and lower capital investment requirements.
Q:
Transactional exchange centers on the timely delivery of basic products for highly competitive market prices.
Q:
Which of the following statements is (are) true about the Internet's impact on marketing communications?
a. Changed from a one-way to a two-way process.
b. Customization of advertising messages.
c. Improved customer service.
d. All of the above.
e. Only (a) and (b).
Q:
The compensation provided to industrial channel members should reflect:
a. the length of service of the channel member.
b. the nature of the marketing tasks performed by the channel member.
c. the loyalty of the channel member.
d. the amount of market potential available in the territory.
e. all of the above
Q:
For truly global industries, a firm's position in one country significantly affects its position elsewhere, so a multi-domestic strategy is required.
Q:
Relationship commitment exists when one party has confidence in a partner's reliability and integrity.
Q:
A model of "lead efficiency" is calibrated using the firm's:
a. historical sales lead and lead conversion-to-sale data.
b. total number of sales booths at past shows.
c. gross margin.
d. all of the above.
e. (a) and (c) only.
Q:
Which of the following channels would give the business marketer the greatest amount of channel control?
a. a channel consisting of merchant wholesalers
b. a channel composed of industrial distributors
c. a channel consisting of both manufacturers' reps and distributors
d. a channel composed of jobbers
e. a channel consisting of manufacturers' reps
Q:
The need for a global strategy is determined by the nature of international competition in a particular industry.
Q:
For collaborative customers, the salesperson not only works with the purchasing staff, but also with a wide array of managers throughout the organization.
Q:
In deciding which trade shows to attend, some business marketing strategists turn to reports published by Exhibit Surveys, Inc., a company that surveys trade show audiences. One useful tool that they provide measures the percentage of the audience planning to buy the products being exhibited within the next 12 months. This is called:
a. Surveys of Industry Purchasing Power.
b. Controlled Audience Index.
c. Total Buying Plans.
d. Buying Power Index.
e. Net Buying Influences.
Q:
Factors that contribute to the use of more than one distribution channel for the same product include:
a. various market segments are served.
b. the needs and buying processes employed by prospective customers varies.
c. conflict between competing channels is relatively rare.
d. all of the above
e. both (a) and (b)
Q:
Coordination centers on where each activity is performed, including the number of locations.
Q:
Operational linkages and information-sharing mechanisms are common features of collaborative relationships.