Subject: Business    / General Business
1) Brand loyalty is an example of a(n) ____ variable in market segmentation.
A. entrepreneurial B. product type C. behavioral D. geographic E. psychographic

2) Which of the following is NOT a requirement for successful market segmentation?
A. The segment should be large enough for the firm to earn profits. B. Differences within the segment should be small compared with differences across segments. C. Heterogeneity of needs and wants appears within the segment. D. It should be possible to determine the size of the segment. E. The segment should be distinct enough so that its members can be easily identified.

3) A(n) _____ is a place within a market segment that represents a narrow group of customers with similar interests.
A. specific market B. target segment C. niche market D. addressable segment E. focus segment

4) A _____ map illustrates a firm’s positioning strategy relative to its major rivals.
A. positioning B. competitor C. marketing D. strategic E. product attribute

5) A ____ is a catchy phrase used in marketing that reinforces the position the product or the company has staked out in the market.
A. marketing theme B. tagline C. strategic theme D. punch line E. positioning theme

6) A brand is a set of _____, positive or negative, that people associate with a company.
A. ideas B. thoughts C. attributes D. opinions E. responses

7) ____ is a program used to protect the image and value of an organization’s brand in consumers’ minds.
A. Promotion strategy B. Marketing strategy C. Business model D. Consumer management E. Brand management

8) _____ is the term that denotes the set of assets and liabilities that are linked to a brand and enable it to raise a firm’s valuation.
A. Brand strategy B. Brand promotion C. Brand management D. Marketing management E. Brand equity

9) Which of the following is NOT a category to assess brand equity?
A. Proprietary assets such as patents, trademarks, and high-quality partnerships B. Name recognition C. Brand loyalty D. The people behind a brand E. Perceived quality of a firm’s products and services

10) _____ is when two companies form a partnership to combine their brands.
A. Strategic branding B. Partnership branding C. Piggybacking D. Co-branding E. Equity branding

11) The 4Ps of marketing activities are product, price, promotion, and ____.
A. positioning B. piercing C. penetration D. partnering E. place

12) A firm’s ____ is the set of controllable, tactical marketing tools that it uses to produce the response it wants in the target market.
A. marketing mix B. strategy C. objective D. positioning E. goal

13) A(n) ______ is an early user of a firm’s product who is willing to give a testimonial regarding the user’s experience with the product.
A. reference account B. pitchman C. adopter D. endorser E. evangelist

14) An Intel chip costs $50dash–$60 to produce and sells for $300. Intel is most likely using _____ pricing for its chips.
A. value-based B. penetration C. strategic D. target E. cost-based

15) When consumers naturally assume that the higherdash–priced product is also the betterdash–quality product, they are making a _______ when looking at the price of a product.
A. marginal assumption B. price assumption C. quality assumption D. pricedash–quality attribution E. strategic assumption

16) ______ refers to the firm’s activities to communicate the merits of its product to its target market.
A. Advertising B. Strategic communication C. Positioning D. Promotion E. Marketing

17) Advertising’s major goals are to explain a product’s comparative features and benefits, create associations between a product and a certain lifestyle, and _______.
A. convey the brand name of the product B. indicate where the product is sold C. raise customer awareness of a product D. communicate the price of the product E. communicate the sales promotion activities for the product

18) Which of the following is NOT a weakness of advertising?
A. Relative costliness compared with other forms of promotions B. The perception that advertising is intrusive C. Message clutter D. High credibility E. The possibility that a high percentage of the people who see the ad will not be interested

19) _____ refers to efforts to establish and maintain a company’s image with the public.
A. Marketing B. Advertising C. Corporate communication D. Promotion E. Public relations

20) _____ marketing is a low-budget approach to marketing that relies on ingenuity, cleverness, and surprise rather than traditional techniques.
A. Bootstrapped B. Focused C. Budget D. Guerilla E. Niche

21) A(n) _____ is the route a product takes from the place where it is made to the customer who is the end-user.
A. value chain B. stage process C. disintermediation process D. distribution channel E. industry chain

22) The process of selling directly to customers without using middle men is called ____.
A. disintermediation B. wholesaling C. intermediation D. channeling E. retailing

23) _____ marketing facilitates and encourages people to pass along a marketing message about a particular product.
A. Corporate B. Television C. Radio D. Viral E. Traditional

24) ____ plug-ins are tools that websites can use to provide their users with personalized and social experiences.
A. Guerilla B. Marketing C. Social D. Strategic E. Viral

25) Which of the following is NOT a step in the salesprocess?
A. Bartering B. Meeting objections and concerns C. Follow-up D. Prospecting E. Qualifying the lead

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