Quiz

ID Goods Corp. sells safety footwear to its client base which includes oil refineries, meat processors, catering companies, hospitals, and cleaning services. The company maintains a database that contains customer information and a history of each of their purchases. It monitors how each order is processed and follows up promptly by offering ongoing guidance on product maintenance. The company responds quickly to complaints and seeks customer satisfaction. Based on these activities, it can be inferred that ID Goods is involved in ________.

		functional partnering
		repositioning
		aftermarketing
		strategic alliancing

Environmental factors include:

		competitive interdependencies among countries, global moves of competitors, and opportunities to preempt a competitor's global moves.
		improving communications, favorable government policies, and the increasing speed of technological change.
		homogeneous market needs, global customers, shorter product life cycles, transferable brands and advertising, and the ability to globalize distribution channels.
		worldwide economies of scale in manufacturing and distribution, steep learning curves, and worldwide sourcing efficiencies.

Among the determinants of service quality, tangibles generally refer to:

		the physical evidence of the service.
		the cyclical stability of the service.
		non-perishable goods.
		demographic factors.

Pricing a product at the average price charged by an industry is called ________ and is popular for homogeneous products.

		bundle pricing
		odd-even pricing
		sealed-bid pricing
		going-rate pricing

With regard to determining how much to spend on advertising, which of the following observations is true of the percent-of-sales approach?

		This approach attempts to determine the retail price by using production costs as a base.
		This approach is popular in retailing.
		The basic philosophy underlying this approach is that advertising is defensive.
		This approach views sales as a function of advertising rather than advertising as a function of sales.

A group of university students is asked to fill a survey that requires them to rank five different television advertisements on mobile software in the market in order of their preference. The survey mentions that the parameters on which the advertisements are to be rated include their credibility, the interest-level they generate, and their attractiveness. The survey the students fill is a typical example of a(n):

		recall test.
		awareness test.
		recognition test.
		opinion test.

Joe and his team have been given a fixed budget and a time frame for the development of a new product. The team's key concern is that the development is likely to overshoot the given budget and time frame. Which of the following categories of risk is likely to be faced by Joe and his team?

		Credit risk
		Internal risk
		Strategic risk
		Market risk

Alcove Studio is a designer boutique that sells the most recent collections from top designers. Since it sells exclusive clothing, customers from all over the world are willing to pay exorbitant prices and place orders months in advance. Alcove Studio's goods are examples of ________.

		convenience goods
		organizational goods
		impulse goods
		specialty goods

Haley Joe Inc., a cosmetics company, plans to launch a range of organic beauty products. Before initiating the launch, the company's marketing team will conduct research to evaluate the current market for organic products. Presently, it is formulating a question for the researchers to determine what the research is meant to accomplish. Haley Joe Inc.'s marketing team is currently in the middle of ________.

		identifying the purpose of the research
		processing the research data
		preparing the research report
		developing the plan of the research

Exclusivez, a leading jeweler, offers a pair of diamond earrings for $2000, a price that is 40 percent lower than that of its competitors. Exclusivez aims to use this strategy to drive its competitors out of business and become the market leader in diamond jewelry. This is an example of ________.

		price discrimination
		predatory pricing
		deceptive pricing
		price fixing