1. Services must be performed and consumed at the same time. This is an example of a. perishability b. intangibility c. inseparability d. heterogeneity 2. Which of the following philosophies focuses on achieving long-term goals for the organization by satisfying customer wants and needs? Production orientation a. b. Market orientation c. Sales orientation d. Society marketing orientation 3. Which of the following strategies assumes that individual customers have similar needs that can be met with a common marketing mix? a. Undifferentiated targeting b. Concentrated targeting c. Multi-segment targeting d. Individual targeting 4. Apple is eliminating all nonessential marketing expenses for its product line of iPod as the sales turnover continues to drop. Apple's iPod is in the stage of the product life cycle. a. introduction b. growth c. maturity d. decline 5. A market segment is if the firm can reach the members of the segment with customized marketing mix, while a market is if it is large enough to justify a special marketing mix. a. identifiable; responsive b. responsive; identifiable c. substantial; accessible d. accessible; substantial 6. Nike is making a strong statement that they use the latest technology to produce premium products with the best designs in the world. Which of the following promotion objectives is Nike trying to achieve? a. Informing b. Persuading c. Reminding d. Connecting 7. Which of the following companies uses captive product pricing? a. Canon sells inexpensive printers that runs only on their own expensive ink cartridges b. Nikon sells cameras and offers customers the choice of paying extra for a camera stand that can be used with the camera c. Timberland sells expensive shoes that come with a free shoe polish d. Body Shop prices skin-care product packages lower than selling the individual products separately 8. Which of the following statements is true of the idea generation stage in the new product development process? a. The purpose of idea generation is to reduce the number of ideas to the least possible number b. Customers are the least important sources of new product ideas. c. Truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source. d. Truly innovative companies rely exclusively on a single source for new ideas. 9. is a personal assessment of the possible worth one can obtain from making a purchase or consuming a product or service. a. Perceived value b. Hedonic value c. Expected value d. Utilitarian value 10. Nike promotes its new products on Pinterest, Twitter, and Instagram to engage the high-tech, socially minded generation who always look for new things and social acceptance. Which of the following generation is Nike targeting? Generation X a. b. Millennials c. Baby Boomers d. Silent Generation a. 11. Which of the following is NOT true about personal selling? It is a form of direct communication for the purpose of making sales and building customer relationships. b. It involves planned presentation and tailored messages to potential buyers. c. It is effective in qualifying customers and satisfying customer needs. d. Its major objective is to build brand awareness or enhance corporate image 12. A positioning strategy that focuses on personality or type of consumers is using a positioning base. a. competitor b. price and quality c. product user d. product class 13. Hotel.com offers Secret Night' and Collect 10 Nights, Get 1 Free rewards to loyal customers. This is an example of a. Coupons b. Premiums c. Rebates d. Frequency-buyer program 14. Bianca is planning for a business trip to Europe and wants to replace her old suitcase with a new one. To get maximum value for money, she spends substantial time and effort gathering information and comparing different products. Bianca is planning to buy a(n) product. a. convenience b. shopping c. specialty d. unsought 15. Which of the following products would normally use exclusive distribution strategy? a. Luxury jewelry b. Home furnishing c. Electronic devices d. Clothing