6. Which of the following is NOT one of the psychological criteria used by customers to evaluate products?
a) Self-image
c) Risk reduction
b) Durability
d) Pleasure
7. Faced with unknown levels of perceived risk when buying an expensive item, consumers are likely to?a) Seek additional information b) Rely on word of mouth c) Look at alternatives / substitutes d) Take more time before making a purchasing decision
b) c, d
a) a, b
d) all of them
c) none of them
8. A competitive advantage that cannot be readily copied by the competition is referred to as a(n) ____ advantage.
c) Effective
b) Sustainable
a) Controllable
d) Implementable
9. Some intermediaries have the choice of whether or not they will sell the products they are offered. Not all manufacturers have the power or ability to design their channel strategy and to select their ideal members. This is known as?
a) Reverse selection
d) Horizontal selection
c) Backward selection
b) Forward selection
10. In marketing distribution channels, which of the following are NOT considered to be the role of the intermediary? a) Limit liability b) Reduce breakage and poor ordering c) Increase efficiency and reduce costs d) Increase order size and reduce expens
d) none of them
c) c
b) a
a) all of them
11. Which of the following criticisms may be made of the Product Life Cycle?
d) It does not help us to manage an individual product over time
a) It does not provide a framework for considering product strategy decisions
c) It does not take into account the impact of marketing activity on sales and profits
b) It does not provide a stimulus for new product development
12. In services marketing, the term ‘intangible’ means?
d) No physical product or goods change hands
b) Services are consumed immediately – they cannot be stored
c) Services cannot be examined
a) Services are manufactured at the same time as being consumed
13. A disadvantage of the concentrated targeting strategy is that
d) Marketing costs are often higher than for other strategies.
a) The firm's financial condition is tied to a single and specialised marketing mix.
b) Large sales volumes cannot be generated.
c) Production costs may be higher than with other strategies.
14. Delia's works to make sure its public relations activities as well as its sales promotions harmonise with its advertising in all aspects. From this information, we can infer that Delia's is using ________.
d) Experiential marketing
a) Word-of-mouth marketing
b) Integrated marketing communication
c) Buzz marketing
15. Which of the following statements is INCORRECT?
c) Strategic planning begins at the marketing level and proceeds through business-unit and corporate levels.
d) Strategic planning begins at the corporate level and proceeds through business-unit and marketing levels.
a) Of the three levels of planning, corporate strategy is the broadest.
b) Marketing strategy should be consistent with both the business-unit and corporate strategies.
16. When consumers are making do with less expensive products and shopping more selectively, manufacturers and retailers must focus on the ____ of their products.
c) Value
b) Quality
a) Price
d) Image
17. Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.
b) Test marketing
c) Business analysis
a) Commercialization
d) Focus group surveys
18. In the communication process, an actual Sony smartphone advertisement would be considered ________.
a) The medium
c) The message
b) Encoding
d) Decoding
19. Which growth strategy focuses on developing new products for a company's existing markets?
