Question1_____________ is the key to breaking out of "commodity hell".
Select one:
a. Power shifting
b. Market segmentation
c. Innovation
d. Metamediaries
e. Discount Pricing

Question 2
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What type of planning deals with the corporate mission, mix of strategic business units, and resource acquisition and assignments at the corporate level?
Select one:
a. local planning
b. mid-level planning
c. tactical planning
d. strategic planning
e. market planning

Question 3
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All of the following are reasons for the general decline in customer satisfaction over the past 20 years EXCEPT:
Select one:
a. Today's customers are very price sensitive.
b. Product quality is much lower now than at any time in the past.
c. Customers are more cynical, have more information, and have more attitude than ever before.
d. Customers are much less brand loyal than in the past.
e. Today's customers are exceptionally demanding.

Question 4
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Over the past few years, the quantity of CDs and DVDs carried by brick and mortar stores such as Walmart, Kmart, and Best Buy has been shrinking. What is the PRIMARY cause of this trend?
Select one:
a. Shifting demand patterns
b. Power shift to consumers
c. Privacy, security and ethical concerns
d. Unclear legal jurisidiction
e. Audience and media fragmentation.

Question 5
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Home Depot offers services such as financing and home delivery to its customers. What type of utility is Home Depot trying to increase?
Select one:
a. psychological utility
b. possession utility
c. place utility
d. time utility
e. form utility

Question 6
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Among the fundamental changes to marketing and business practice in today's economy is the dramatic increase in the availability of information. This increase in information has created a shift in the balance of power in the supply chain. Who now holds most of the power in today's economy?
Select one:
a. wholesalers
b. manufacturers
c. customers
d. service providers
e. retailers

Question 7
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___________________ involves analyzing the capabilities, vulnerabilities, and intentions of competing business.
Select one:
a. Segmentation
b. Marketing
c. Competitive intelligence
d. Internal analysis
e. Tactical planning

Question 8
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Many firms attempt to distinguish or differentiate their product offerings through the use of __________ strategies. This involves establishing a mental image of the product offering relative to competing offerings in the minds of target buyers.
Select one:
a. segmentation
b. image marketing
c. product positioning
d. pricing
e. perceptual marketing

Question 9
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Which of the following is NOT a major characteristic of relationship marketing?
Select one:
a. It creates value in the buyer-seller relationship.<
b. The goal of relationship marketing is to make the sale.
c. The marketing focus stresses customer retention.
d. Customer service is high priority.
e. Customer contacts between seller and buyer occur frequently.

Question 10
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Although mass media audiences are becoming increasingly fragmented, media fragmentation does have a major advantage. What is this advantage?
Select one:
a. Consumers are now much more receptive to television advertising.
b. It is much easier to measure feedback from mass media audiences.
c. Consumers are now highly susceptible to online advertising.
d. It now costs less to reach a mass audience.
e. It is now easier to reach smaller, highly targeted audiences.

Question 11
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In 2005, the American Marketing Association changed the definition of marketing that had stood for 20 years. The major changes in the definition included a shift from delivering the 4 Ps (product, price, place, promotion) to delivering __________ and a shift from creating exchanges to creating __________.
Select one:
a. value; customer relationships

b. satisfaction; customer relationships
c. quality; transactions
d. value; satisfaction
e. quality; value

Question 12
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Edmunds.com provides a collection of online services and information pertaining to the automotive market. Edmunds offers reviews, free pricing reports, discussion boards, and links to a variety of car manufacturers, dealers, insurance companies, and finance companies. What role does Edmunds.com play in today's economy?
Select one:
a. electronic broker
b. metamediary
c. marketspace
d. distributor
e. metamarket

Question 13
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Changing value propositions in today's economy-such as changes caused by the growth in e-commerce-have forced marketers to learn a tough lesson about customers. What is that lesson?
Select one:
a. Customers will turn to the most convenient, least expensive alternative when a product is thought to be a commodity.
b. Customers will always seek the best value regardless of quality.
c. Customers would rather perform services for themselves to save money.
d. Customers will always seek the best quality regardless of price.
e. Customers will always turn to the most recognized brand.

Question 14
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The growth of the Internet has changed today's economy in many ways. Which of the following is NOT one of these changes?
Select one:
a. decrease in product selection
b. shifting demand patterns
c. lower prices for most products
d. audience and media fragmentation
e. privacy and security concerns

Question 15
Question text
In general, a customer's decision to purchase one product or group of products over another is primarily a function of:
Select one:
a. the product's features relative to competing products.
b. the convenience of acquiring the product or group of products.
c. how well that choice will fulfill that person's needs and satisfy his or her wants.
d. the product's price.
e. the availability of the product or group of products.