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business
essentials of marketing
Questions and Answers of
Essentials Of Marketing
Primary research is:(A) The research that is carried out first.(B) Research that is original.(C) The most important research.
Which of the following is not an example of qualitative research?(A) A self-administered survey.(B) A focus group.(C) A cartoon test.
A random sample is:(A) A sample chosen in a way that the interviewer does not control.(B) A sample that represents the whole population.(C) A sample in which each member of the population has an
People who participate in market research exercises are called:(A) Respondents.(B) Interviewers.(C) Surveyors.
Product research is carried out in order to:(A) Find new uses for old products.(B) Identify new customers.(C) Identify new ways to distribute products.
Which of the following is not a test of statistical confidence?(A) A t-test.(B) A chi-square test.(C) A cartoon test.
Testing a questionnaire before running it is called:(A) Piloting.(B) Conferencing.(C) Sampling.
A research exercise which investigates a number of different issues at once with the same respondents is called:(A) A decision-support system.(B) An omnibus study.(C) A panel.
Environment research is concerned with:(A) Green issues.(B) Investigating pressure groups.(C) Investigating the general business climate within which the firm operates.
Why does the Enis, Lagrace and Prell version of the product life cycle differ from the traditional version?
A product is defined as:(A) A manufactured article, most of whose features are tangible.(B) A bundle of benefits.(C) A coherent set of attributes, some of which are tangible and some of which are
A brand is:(A) A name given to a firm’s product to distinguish it from its competitors.(B) A feature of the packaging of a product.(C) A focus for the firm’s marketing activities around a
Brand extension is:(A) Creating linked products which relate to the basic brand.(B) Promoting the brand into new markets.(C) Promoting the brand into new distributors.
A product that has a large share of a mature market is called:(A) A Star.(B) A Cash Cow.(C) A Dog.
A product that has a small share of a shrinking market is called:(A) A Dog.(B) A War Horse.(C) A Dodo.
Someone who is among the very first to buy a new product is called:(A) An early adopter.(B) A laggard.(C) An innovator.
A shopping product is:(A) A product that is bought on a regular basis.(B) A product that requires a lengthy decision-making process.(C) A product that is bought from a retail shop.
Accessory equipment is:(A) Equipment bought by a firm for its peripheral needs.(B) Extra products that complement a main product purchase.(C) Equipment used to access other equipment.
Which of these is untrue?(A) Service products are intangible.(B) Service products are bundles of benefits.(C) Service products are luxuries.
Tamper resistance is an aspect of:(A) Packaging design.(B) Product design.(C) Promotion design.
What is the difference between margin and mark-up?
Pricing which is based on how much it costs to produce a product is called:(A) Cost-plus pricing.(B) Demand pricing.(C) Customary pricing.
What is the difference between mark-up and margin?(A) Mark-up is based on customers’ perceptions, margin is based on producers’ perceptions.(B) Mark-up is based on bought-in price, margin is
Setting a high price which gradually reduces as competitors enter the market is called:(A) Penetration pricing.(B) Competitive pricing.(C) Skimming.
Selling a product at one price in one market and a lower price in another is called:(A) Second-market discounting.(B) Penetration pricing.(C) Competitive pricing.
Predatory pricing is:(A) Setting a price below the costs of production so as to bankrupt competitors.(B) Setting a price low to capture a large share of a new market.(C) Setting prices high to give
Which of the following is not an assumption underpinning the economist’s model of price setting by supply and demand?(A) That price is the only issue that concerns consumers.(B) That supply will
Having to choose between alternatives when one has limited resources is called:(A) The economic choice.(B) The decision-making unit.(C) The value chain.
Demand pricing is used because:(A) It is easiest to apply.(B) It is consumer-orientated.(C) It gives the most profit per unit of production.
Ending a price with 99¢ is an example of:(A) Psychological pricing.(B) Demand pricing.(C) Customary pricing.
A reverse auction is one in which:(A) Buyers compete against each other to buy an item.(B) The price gets higher as more people enter the market.(C) Buyers combine to force prices down.
What are the main reasons for the growing share of the service sector in all major economies of the world?
What are the five powerful forces transforming the service landscape, and what impact do they have on the service economy?
Why would growth in business services help individual firms and entire economies become more productive?
“A service is rented rather than owned.” Explain what this statement means, and use examples to support your explanation.
Describe the four broad “processing” categories of services, and provide examples for each.
Why does services marketing need a special approach?
“The 4 Ps are all a marketing manager needs to create a marketing strategy for a service business.”Prepare an argument that opposes this statement, and support it with examples.
Why do the marketing, operations, human resource management, and IT functions need to be closely coordinated in service organizations?
What are the implications of the service–profit chain for service management?
What are the key elements in the framework for developing effective service marketing strategies?
Visit the websites of the following national statistical bureaus: U.S. Bureau of Economic Analysis (www.bea.gov); Eurostat (ec.europa.eu/eurostat); and the respective websites for your country if
Give examples of how AI, analytics, robotics, apps and mobile technologies (e.g., m-commerce and apps) have changed some of the services you use.
Choose a service company you are familiar with, and show how each of the 7 Ps of services marketing applies to one of its service products.
Explain how the concepts in Chapter 1 are relevant to the marketing of a religious institution or a non-profit organization such as World Wildlife Fund.
Explain the three-stage model of service consumption.
How can customer choice between services in their consideration set be modeled?
What is the difference between the linear compensatory rule and the conjunctive rule?
Describe search, experience, and credence attributes, and give examples of each.
Explain why services tend to be harder for customers to evaluate than goods.
Why do consumer’s perceptions of risk play an important role in choosing between alternative service offers? How can firms reduce consumer risk perceptions?
How are customers’ expectations formed? Explain the difference between desired service and adequate service with reference to a service experience you’ve had recently.
What are “moments of truth”?
Describe the difference between high-contact and low-contact services, and explain how the nature of a customer’s experience may differ between the two.
How do the concepts of theater, role theory, and script theory help to provide insights into consumer behavior during the service encounter?
What are the dimensions of perceived control, and why is perceived control important?
Describe the relationship between customer expectations and customer satisfaction.
What is service quality? How is it different from customer satisfaction?
How can you measure service quality?
Explain the meaning of customer loyalty and customer engagement.
Construct a multi-attribute model to compare three different restaurants for an important celebration in your family. Apply the two different decision rules and determine the choices that arise from
What are the backstage elements of (a) a car repair facility, (b) an airline, (c) a university, and (d) a consulting firm? Under what circumstances would it be appropriate or even desirable to allow
Visit the facilities of two competing service firms in the same industry (e.g., banks, restaurants, or gas stations) that you believe have different approaches to service. Compare and contrast their
Apply the script and role theories to a service of your choice. What insights can you gain that would be useful for management?
How can a firm implement principles from perceived control theory in a service encounter? Apply it to one face-to-face and one online encounter of your own choosing.
Describe an unsatisfactory encounter you recently experienced with(a) a low-contact service provider via an app, chatbot, phone, or email and(b) a high-contact, face-to-face service provider. What
How would you define “excellent service quality”for an enquiry/information service provided by your cell phone or electricity service provider?Call a service organization, go through a service
What are the elements of a customer-driven services marketing strategy?
What are the most common bases used in segmentation?Provide examples for each of these bases.
What is the distinction between important and determinant attributes in consumer purchase decisions?
Why should service firms focus their efforts?Describe the basic focus strategies and give examples of how these work.
What are the six questions for developing an effective positioning strategy?
How can positioning maps help managers better understand and respond to competitive dynamics?
Do the 3 Cs and STP apply to digital services and platforms as well? Is the way positioning works for these services different from that of other services?
Describe what is meant by positioning strategy. How do the market, customer, internal, and competitive analyses relate to positioning strategy?
Select a company of your choice. Identify the variables that the company has used to segment its customers. Support your answers with examples from the company.
Provide two examples of service firms that use service levels (other than airlines, hotels, and car rentals) to differentiate their products. Explain the determinant attributes and service levels
Find examples of companies that illustrate each of the four focus strategies discussed in this chapter.
Imagine that you have been hired as a consultant to give advice to The Palace Hotel. Consider the options facing the hotel based on the four attributes in the positioning charts (Figures 3.17 and
Examine the positioning strategy of two or more ride-sharing platforms in your home market. How differentiated is their positioning with regards to riders and drivers? Propose an improved positioning
Choose an industry you are familiar with (such as cell phone services, credit cards, or music streaming) and create a perceptual map showing the competitive positions of different service providers
What is a service product?
What are the benefits of well-developed service products for customers and frontline employees?
Explain what is meant by the core product and its supplementary services.
Explain the Flower of Service concept and identify each of its petals. What insights does this concept provide for service marketers?
What is the difference between enhancing and facilitating supplementary services? Give examples of each.
How is branding used in marketing services? What is the distinction between a corporate brand such as Marriott, the names of its various inn and hotel chains, its packaged solutions for specific
What is meant by using brands to tier service levels?
How can service firms build brand equity?
What are the approaches firms can take to innovate, enhance, and create new services?
Why do new services often fail? What are the factors associated with the successful new service development?
Select a specific service product you are familiar with and identify its core product and supplementary services. Select a competing service and analyze the differences between the two in terms of
Identify two examples of branding in financial services (e.g., specific types of retail bank accounts or insurance policies) and define their characteristics.How meaningful are these brands likely to
Select a service firm that you believe is successful and has strong brand equity. Conduct a few interviews to find out how consumers experience its service.Use your findings to identify the factors
Select a service brand you consider to be outstanding.Explain why you think it is outstanding. Also explore any weaknesses of this brand. You should select an organization you are familiar with.
Using a firm you are familiar with, analyze what opportunities it might have to create product line extensions for its current and/or new markets.What impact might these extensions have on its
Identify two new service developments that have failed. Analyze the causes for their failure.
What is meant by “distributing services?” How can an experience or something intangible be distributed?
Why is it important to consider the distribution of core and supplementary services both separately and jointly?
What are the different options for service delivery?What factors do service firms need to take into account when using each of these options?
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