CL Inc. an American fast-food chain enters into an agreement with Mars Corp., a British firm. According to the terms of the contract, Mars Corp. can use CL's brand name, image, logo and business format for a specified fee. This type of market entry is known as _____.
Which of the following is a key difference between B2B and B2C buying processes?
Toby, the manager in charge of distribution for Nissa Designs, believes that a push strategy will increase efficiency for the company. Which of the following is a feature of a push strategy?
In Travnia, an industrial country, the government controls most of the utilities, including power and water supply. The bottled-water market, however, has four major players: Balk, Pentl, Valr, and Tidum. Each of the companies markets its product using a distinct branding strategy. In an attempt to gain a larger market share, Pentl reduces the price of its products by 10%. It expects to make up for the lost revenue from an increase in sales. Which of the following is true of this scenario?
Sophia, a market researcher at Contell Foods, is tasked with assessing the particular food tastes of the Hispanic population in the United States. Previously conducted surveys reveal that the company has failed to tap into the market for processed foods with respect to Hispanic Americans. As a part of Sophia's task, she is required to stay with 50 Hispanic American families and white American families over a period of 6 months and understand the difference in the food tastes, the cooking methods used, and the family culture prevalent in these families. Sophia is conducting _____ research.
_____ is a communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.
The place aspect of the marketing mix typically involves interactions between the marketer and _____.
Newtown-based athletic shoe manufacturer Alpha Shoes sells different types of shoes for kids, and focuses its marketing activities in the Newtown region. To increase sales of its products, Alpha begins an intensive promotional campaign in Newtown's schools. Which of the following market strategies is the company using?
Which of the following is the first step in planning and executing an advertising campaign?
Talyn Cosmetics sells high-end cosmetics that are coveted by women, but are priced out of the budgets of most average buyers. Talyn wants to enter the Arian market and is conducting market research to identify the market segment on which it should focus its strategy. Researchers send out a questionnaire to a vast pool of potential customers in Aria and analyze the results. Which of the following questions should research analysts focus on to identify the target segment?
Which of the following is true of price elasticity?
Bisky, a newly-founded biscuit company, is developing its first product, Jamz. It intends to the sell the product as a nutritious alternative to other biscuits. It markets the product with the tagline "A healthy snack for a healthy you." Which of the following is true of this scenario?
_____ survey type has questions that are open ended and allow respondents to answer in their own words.
Blogs provide companies with the opportunity to
Firms are most likely to use reminder advertising during the _____stage of the product lifecycle.
Which of the following retailers offers a broad variety of merchandise, limited service, and low prices?
Tim, a musician, was embroiled in an online dispute with an airline company. Tim alleged that his guitar was manhandled by the staff and therefore he set up a blog and released two videos in order to convince others not to use the airline. Which stage of the 4E framework is seen in this scenario?
Mars Clothing offers a ""buy one, get one free"" offer on select clothing items and a 20 percent discount on all perfumes. These type of offers are known as a(n)
When should a company use individual brands over family brands?
Which of the following is an example of impulse buying?
The social network that is used solely for sharing videos is
Ryan's Bikes, a motorcycle company, designs and builds custom bikes. The company customizes each vehicle according to the taste, specification and individual requirements of the customer. In this scenario, Ryan's is using a _____ strategy.
An inventory-management system in which the supplier determines the amount of product a retailer needs and automatically delivers the appropriate items is referred to as _____.
Calculate the market growth rate of a product in a year if it sold 120,000 units in the first quarter of the year and 200,000 units in the last quarter of the year.
PlayBall, a manufacturer of gaming consoles, announces the release of its new device. Karen, wanting to be one of the first to own the new gaming console, stands in a queue for over five hours on the day of its release. Even though disappointed that the product sold out before her turn arrived, Karen returned at 2 A.M the next day and was the first person in line. In this scenario, Karen is one among the _____.
_____ is/are also known as the Digital Natives, because people in this group were born into a world that already was full of electronic gadgets and digital technologies, such as the Internet and social networks.
Companies are legally required to
X-Pert Bikes sells bikes for people of all ages. The company is creating a new advertising campaign targeted only at existing customers, encouraging them to buy an X-Pert Bike the next time they want a bike. The company also begins an X-Pert Club for existing users of X-Pert Bikes, as research has shown that familiarity with a brand increases the chances of repeat purchases. In this case, X-Pert's campaign is aiming to build ______.
Jim, an entrepreneur, writes funny comic strips and posts them on facebook and twitter. He has a large fan following and he uses many of his innovative, entrepreneurial and cutting edge ideas in his comic strips. Jim is an example of a _____.
Serenity Inc. exercises reward power over a channel partner when Serenity:
Candy bars should most likely be sold using which type of target market coverage?
If a customer spends $40 on purchasing a company's product and spends $80 on other companies' products in the same product category, what is the company's share of customer wallet?
EightBuy.com is an online retail store that offers a special discount on every eighth item that a customer purchases from the store. The website has over 100 pages and the home page of the website is the most viewed page, at 1 million views per day. If EightBuy.com attracts 400,000 unique visitors per day, what is the number of impressions of its home page?
Which of the following best describes a lagged effect?
Ryan, an insurance salesperson, sells an insurance policy covering hurricane damage to Sean. However, as instructed by his company, Ryan fails to tell Sean that the policy does not include water damage caused by hurricane flooding. In this scenario,
A TV show has a rating of 7 points. What does this imply?
Which list below presents the hierarchy of needs in its correct order, beginning with the lowest level need to the highest level need?
Jeanne's, a mom and pop store, sells a large variety of groceries. Jeanne's buys its products from several warehouse owners and sells to consumers from varied market segments. In this scenario, Jeanne's is an example of a _____.
Jim's book store sold management textbooks online to university students. The store wanted to open a brick and motor store in a small town. However, a study showed that there was only small community college in the area and the number of prospective customers was likely to be low. In this scenario, the store is considering the _____ criterion.
In a(n) _____ search for information , a buyer examines his or her own memory and knowledge about a product or service, gathered through past experiences.
Hermit, a fashion apparels retailer, recently slashed prices on its premium fashion label, Lau, by 40%. This resulted in a sharp rise in sales of Lau by 30%. This also directly impacted the sales of its lower-priced brand, Infinity, which saw sales reduced by 15%. What is the cross-price elasticity of demand between Lau and Infinity?
Torege, a video game developer, releases its new first-person shooter game, The Final Call. Torege prices the game at $100, while the rest of its products sell for below $40. Despite this obvious high pricing, hardcore gaming fans of Torege queue up to buy the game when it is released. Which of the following strategies does this scenario exemplify?
Each month, the owner of a small restaurant that sells take-out fried chicken and biscuits pays $2,500 in rent, $500 in utilities, $750 interest on a loan, insurance premium of $200, and $250 on advertising on local buses. A bucket of take-out chicken is priced at $9.50. Unit variable costs for the bucket of chicken are $5.50. How many small buckets of chicken does the restaurant need to sell to break even each month?
The management team at Green Meadows Inc. is debating expanding its corporate social responsibility (CSR) budget for the year. Greg is against the proposal, saying that the expenditure on CSR activities does not profit the firm in any way. In his opinion, the money could be better invested in other activities, especially as the market is seeing some volatility. Paolo, however, says that investing in CSR will benefit the firm's reputation in its target market in the long run. Which of the following, if true, weakens Greg's argument?
In _____ companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets.
Individuals can choose to purchase Microsoft stand-alone software packages such as the Home and Student versions of Word, Excel, and PowerPoint for $119.99 each. However, they may choose to purchase the Office Home and Student 2010 suite, which has all of these applications in the same package for a price of $149.99. Microsoft is using a __________ pricing strategy.
Telcon, a mobile phone manufacturer, sells its flagship product, Pute, at $250 per unit. The fixed cost incurred by the company is $500,000, and the variable cost per unit is $150. What is the profit earned by Telcon if it sells 100,000 units of Pute?