Question 1.? The primary opportunity for time compression management (TCM) lies in its application to:???Answer... the purchasing process.... the production process.... the administrative process.... the marketing process..?;2 points;Question 2.? The majority of customers who stop patronizing a particular store do so because:???Answer... its prices are too high.... its quality is too low.... an indifferent employee treated them poorly.... it failed to advertise enough..?;2 points;Question 3.? Small businesses are able to maintain a leadership role in innovation by:???Answer... using their size, flexibility, and speed to their advantage.... spending much more money on R & D than large companies do.... foreseeing trends better and far enough in advance that they can spread innovation costs over several years.... making better use of technology than large companies..?;2 points;Question 4.? One "natural" advantage small businesses have over large business, which can be a significant competitive advantage, is:???Answer... relationship marketing.... their ability to conduct market research.... their lower costs.... their ability to serve many highly diverse target markets..?;2 points;Question 5.? ________ is the notion of drawing customers into a store by creating a kaleidoscope of sights, sounds, smells, and activities, all designed to entertain?and, of course, sell.???Answer... Pull strategy... Entertailing... Customer Relationship Management (CRM)... Interactivity.?;2 points;Question 6.? One-to-one marketing is a marketing strategy that:???Answer... 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 7.? Small businesses can compete with larger rivals with bigger budgets by employing unconventional, low-cost creative techniques known as:???Answer... market research.... astonishing customer service.... guerrilla marketing techniques.... psychographics..?;2 points;Question 8.? The Total Quality Management (TQM) concept:???Answer... strives to achieve quality not just in the product or service itself, but in every aspect of the business and its relationship with the customer.... relies on quality inspections through an army of quality control inspectors.... focuses on reducing the time it takes to fulfill a customer's request for a product.... is built on market research..?;2 points;Question 9.? The cost of marketing a product is highest in the:???Answer... introductory stage.... growth and acceptance stages.... maturity stage.... saturation stage..?;2 points;Question 10.? To build an effective customer service program, it is important to:???Answer... offer low prices.... train key employees to watch for and intervene when there are problems.... swiftly discipline employees who mistreat customers.... let managers wait on customers occasionally..?;2 points;Question 11.? When it comes to gathering market research on customers, most small companies tend to be:???Answer... as good at it as large companies.... at asevere disadvantage in comparison to large companies.... data rich, lots of facts, but information poor, little in a useful form.... less effective at defining the research problem than larger companies..?;2 points;Question 12.? Attracting a new customer costs ________ as much as keeping an existing one.???Answer... twice... seven to nine times... three times... three-fourths.?;2 points;Question 13.? Numerous surveys have concluded that the most important element of service is:???Answer... the personal touch.... convenient business hours.... speedy transactions.... innovative product design..?;2 points;Question 14.? Shifting patterns in the age, income, education, race, and other characteristics of the population are the subject of ________ and exert a potent force on a company's marketing plan.???Answer... psychographics... geographics... demographics... geo-demographics.?;2 points;Question 15.? A company's competitive edge is:???Answer... dependent on the availability of its products.... largely a function of its pricing strategies.... the superiority of its market research.... based on customers' perception of its products and services..?;2 points;Question 16.? In a(n) ________ advertising program, a group of similar businesses forms a "syndicate" to produce "generic" ads that allow the individual businesses to dub in local information.???Answer... cooperative... shared... direct... integrated.?;2 points;Question 17.? Before making a sales call, the salesperson sets three objectives. Which one is not an objective????Answer... The primary objective... The visionary objective... The maximum objective... The minimum objective.?;2 points;Question 18.? ________ is any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor.???Answer... Promotion... Advertising... Personal selling... Publicity.?;2 points;Question 19.? The ________ method is the most difficult and least used technique of establishing an advertising budget.???Answer... percentage of sales... spending what competitors spend... objective-and-task... what is affordable.?;2 points;Question 20.? The choice of advertising medium is primarily determined by:???Answer... what media the competition uses.... what media the industry focuses on.... the target audience and the message.... the unique selling proposition and budget..?;2 points;Question 21.? A successful public relations technique used by local businesses to sponsor and promote fundraising activities of nonprofit groups is called:???Answer... cooperative advertising.... shared advertising.... cause marketing.... integrated marketing..?;2 points;Question 22.? In reality, advertising:???Answer... is a "luxury expense" to be undertaken only when the budget permits.... requires a large budget to be successful.... is an investment in the future, without steady advertising the customer base will dry up.... is relatively ineffective in increasing sales but it does increase customer awareness..?;2 points;Question 23.? Effective ads are built on:???Answer... a clear picture of the competition's products.... a multimedia approach.... a unique selling proposition.... clearly defined features of the product..?;2 points;Question 24.? The most meaningful unique selling proposition:???Answer... identifies as many product features as possible.... stresses price.... counters the strengths of the competition.... describes the primary benefit of the product..?;2 points;Question 25.? Radio's power as an advertising medium comes from:???Answer... the high production qualities available to the advertiser.... the long life of its ads.... its nearly universal presence in society.... the powerful graphic abilities of the medium..?;2 points;Question 26.? The key to the success of direct mail advertising is:???Answer... 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 27.? Which of the following media account for the greatest portion of advertising expenditures????Answer... Internet... Radio... Television... Magazines.?;2 points;Question 28.? A successful direct mail ad is characterized by:???Answer... text written as if it were being spoken.... thorough text descriptions of the benefit.... making statements rather than asking questions.... minimal use of pictures and color, to reduce costs..?;2 points;Question 29.? Newspaper advertising is characterized by:???Answer... broad territory coverage.... high costs.... long ad life... prompt responses to the ads..?;2 points;Question 30.? The ________ becomes the heart of a company's advertising message.????Answer... USP?... brand equity?... price?... product?
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