BUS 402 QUIZ 3

BUS 402 QUIZ 3

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Question 1 

1. One-to-one marketing is a      marketing strategy that:

 

gathers data on individual customers   and then tailors an appeal to their needs and tastes.

 

uses technology to make customers   feel like they are being treated special.

 

focuses on the use of personal   selling and consultative advising of customers.

 

relies heavily on geographic data but   ignores demographic and psychographic data.

2 points

Question 2 

1. The key to marketing success is:

 

economy of scale in promotion by   creating broad-based ad campaigns.

 

understanding customers’ unique   needs, wants and preferences.

 

the use of direct-marketing and   e-commerce.

 

catering to teenagers.

2 points

Question 3 

1. ________ refers to developing,      maintaining, and managing long-term relationships with customers so that      they will want to keep coming back.

 

Customer relationship management

 

Customer retention management

 

Customer management software

 

Customer reassurance management

2 points

Question 4 

1. One “natural” advantage      small businesses have over large businesses, which can be a significant      competitive advantage, is:

 

relationship marketing.

 

their ability to conduct market   research.

 

their lower costs.

 

their ability to serve many highly   diverse target markets.

2 points

Question 5 

1. Which strategy allows a small      company to maximize the advantages of its smallness and to compete      effectively even in industries dominated by giants?

 

Grand market strategy

 

Mass strategy

 

Niche strategy

 

None of the above

2 points

Question 6 

1. Under ________, a manufacturer      splits the cost of advertising with a small retailer if the retailer      features its product.

 

cooperative advertising

 

shared advertising

 

direct advertising

 

integrated marketing

2 points

Question 7 

1. The most commonly used method of      establishing an advertising budget for a small business is:

 

a percentage of sales.

 

spending what competitors spend.

 

objective-and-task method.

 

what is affordable.

2 points

Question 8 

1. ________ is any sales presentation      that is nonpersonal in nature and is paid for by an identified sponsor.

 

Promotion

 

Advertising

 

Personal selling

 

Publicity

2 points

Question 9 

1. Tactics that can help an      entrepreneur stimulate positive publicity for the firm are:

 

writing news releases and faxing them   to the media.

 

sponsoring a community project.

 

promoting a cause.

 

All of the above

2 points

Question 10 

1. The key to the success of direct      mail advertising is:

 

designing the right envelope.

 

the accuracy of the customer mailing   list.

 

creative use of color and photographs   in the mailing.

 

using key words such as   “free,” “hurry,” and “savings.”

2 points

Question 11 

1. When a small business owner      doesn’t want to make a pricing decision, he/she can use a(n) ________      pricing strategy.

 

price lining

 

suggested retail

 

opportunistic

 

multiple unit

2 points

Question 12 

1. Many small business owners use a      ________ strategy to move stale, damaged, or slow moving goods or to      encourage shoppers to purchase merchandise before an upcoming season.

 

multiple pricing

 

opportunistic pricing

 

discount pricing

 

price lining

2 points

Question 13 

1. Probably the most important      consideration a manufacturer has when setting the final price of its new      exclusive perfume is:

 

the perfume’s production cost.

 

competitor’s prices.

 

the image the company wants to create   for the scent in the customer’s mind.

 

choosing between odd pricing and   price lining.

2 points

Question 14 

1. The Omega Company introduces      products with a higher-than-normal price in an effort to quickly recover      the initial developmental and promotional costs of the product. The Omega      Company is pursuing a ________ pricing strategy.

 

fixed-price

 

skimming

 

penetration

 

loss leader

2 points

Question 15 

1. ________ is a technique which      greatly simplifies the pricing function by setting the same price for      items with similar characteristics.

 

Odd pricing

 

Leader pricing

 

Price lining

 

Geographical pricing

2 points

Question 16 

1. ________ is a trend where people      test products in retail stores but buy them online.

 

Showboating

 

Commoditizing

 

Onlining

 

Showrooming

2 points

Question 17 

1. The ________ is the cost a company      incurs to generate each purchase.

 

CTA

 

CPA

 

CSA

 

CMA

2 points

Question 18 

1. For many entrepreneurs, the      barrier for launching e-commerce is:

 

where and how to start an e-commerce   effort.

 

lack of funding.

 

lack of IT staff.

 

Both B and C

2 points

Question 19 

1. Which of the following statements      is true for improving a company’s search placement results?

 

Visit competitors’ sites for key word   ideas, but avoid using the exact phrases.

 

Consider using less obvious key words   and brand names.

 

Ask customers which words and phrases   they use when searching for the products and services the company sells.

 

All of the above

2 points

Question 20 

1. E-Commerce requires a basic      infrastructure somewhere in the channel of distribution to process orders,      maintain inventory, ________, and handle customer service.

 

fill orders

 

process e-mail

 

technology

 

All of the above