51. Betsy, a teenager, uses most of her post school hours in either playing tennis or watching movies. She barely manages to concentrate in her lessons for a couple of hours before term exams. Being questioned about her substandard performance in the school, she points out the teacher's inability to complete the entire course during the school hours as the possible reason. Betsy's behavior is most likely to be associated with ________. a. hedonic bias b. discrimination c. psychological repositioning d. generalization e. selective attention 52. ________ are rules of thumb or mental shortcuts in the decision process. a. Discriminations b. Attitudes c. Beliefs d. Biases e. Heuristics 53. ________ accounting refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices. a. Cost b. Behavioral c. Financial d. Factual e. Mental 54. Ultimately, the amount of steel sold to General Motors depends on the consumers' demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand form is most pertinent? a. inelastic demand b. static demand c. relational demand d. derived demand e. geographic demand 55. Shoe manufacturers are not going to buy much more leather if the price of leather falls, nor will they buy much less leather if the price rises unless they can find satisfactory substitutes. This is an example of ________. a. inelastic demand b. a modified rebuy c. the acceleration effect d. direct purchasing e. a straight rebuy 56. The new, more strategically oriented purchasing departments have a mission. Which of the following most accurately describes that mission? a. Make the most profit possible and remain independent of entanglements. b. Seek the best value from fewer and better suppliers. c. Abandon all strategies except for systems selling and buying. d. Outsource the supply function. e. Approach every purchasing opportunity as means to create interdependency. 57. Through its dedicated research team, CISCO Systems Inc. has developed new value-added business solutions which enable its variant class-II capacitors to provide incremental productivity of 10 to 20 percent over its competitors. This is an example of the ________ form of solution selling. a. solutions to partnerships b. solutions to decrease customer risks c. solutions to enhance customer revenues d. solutions to alter corporate culture e. solutions to reduce customer costs 58. A ________ plan establishes a long-term relationship in which the supplier promises to resupply the buyer as needed, at agreed-upon prices, over a specified period of time. a. stockless purchase b. stock purchase c. direct stock purchase d. defined contribution e. share purchase 59. Which of the following relationships is characterized by much trust and commitment leading to a true partnership? a. mutually adaptive b. customer supply c. basic buying and selling d. collaborative e. cooperative systems 60. In the ________ category of buyer-supplier relationship, although bonded by a close, cooperative relationship, the seller adapts to meet the customer's needs without expecting much adaptation or change on the part of the customer in exchange. a. contractual transaction b. customer is king c. cooperative system d. collaborative e. mutually adaptive 61. According to research studies, the closest relationships between customers and suppliers arise when ________. a. the customer is highly price sensitive b. the suppliers charge a premium for their products c. supply is important to the customer and there were procurement obstacles d. procurement is simple e. there are many undifferentiated vendors in the marketplace 62. ________ investments are those expenditures tailored to a particular company and value chain partner. a. Umbrella b. Specific c. Pooled d. General e. Diversified 63. A ________ consists of a group of customers who share a similar set of needs and wants. a. market level b. market segment c. market basket d. market share e. vertical marketing system 64. Those who favor localized marketing see national advertising as wasteful because ________. a. it sends conflicting marketing messages b. it gets too up close and personal with consumers c. it fails to address local needs d. it magnifies logistical problems e. it drives up manufacturing and marketing costs by reducing economies of scale 65. A marketer is interested in segmenting a business market on ________ if the marketer intends to segment the market based on industries and geographical areas to serve. a. personal characteristics b. purchasing approaches c. demographic variables d. situational factors e. operating variables 66. If your assignment was to create a value proposition and product-price positioning strategy for each segment, based on the segment's unique customer needs and characteristics, you would be in which of the following steps of the segmentation process? a. segment identification b. segment positioning c. segment attractiveness d. needs-based segmentation e. segment "acid-test" 67. If married and unmarried women respond similarly to a sale on perfume, these hypothetical segments fail the ________ criterion for useful market segments. a. actionable b. substantial c. differentiable d. accessible e. measurable 68. Marketers usually identify niches by ________. a. conducting VALS tests b. dividing a segment into subsegments c. examining the demographics section of the handbook of marketing d. producing products that can be used in a variety of ways e. allowing consumers to gravitate toward product brands 69. Christian Louboutin is a footwear designer who launched his line of high-end women's shoes in France in 1991. The brand caters to an elite clientele whose satisfaction with the brand has always been evident. Apart from being high-end, Louboutin footwear signifies power in elite social circles. Celebrities are often seen sporting "Loubs" at special occasions, such as movie premieres. This has resulted in people associating Louboutin footwear with class and power. In accordance with the brand asset valuator model, which of the following components of brand equity has Louboutin fulfilled in the given scenario? a. esteem b. presence c. energized differentiation d. advantage e. knowledge 70. According to the brand asset valuator model, which of the components of brand equity measures the breadth of a brand's appeal? a. esteem b. value c. relevance d. differentiation e. knowledge 71. According to the BRANDZ model of brand strength, brand building involves people progressing through a sequential series of steps. Which of these steps would address or answer the question "Can this brand deliver?" a. advantage b. bonding c. performance d. relevance e. presence 72. Which of the following "building block levels" corresponds to the branding objectives of points-of-parity and difference? a. judgment and feelings b. resonance and salience c. performance and imagery d. salience and feelings e. imagery and judgment 73. According to Ries and Trout, Cadbury suffered from ________ when the company allowed its brand to become diluted by putting their name on such variants as mashed potatoes, powdered milk, and soups, apart from chocolates and candies. a. line-extension trap b. liquidity trap c. branding fallout d. cognitive dissonance e. cannibalization 74. The result of positioning is the successful creation of ________, which provides a cogent reason why the target market should buy the product. a. a demand channel b. an award-winning promotional campaign c. employee value proposition d. a customer-focused value proposition e. everyday low pricing 75. The brand must demonstrate ________ for it to function as a true point-of-difference. a. clear profitability to the company b. clear superiority on an attribute or benefit c. technological advances for an attribute or benefit d. clear similarity to the attributes of other brands e. exploitation of competitors' weakness  |
