Archive for March 2018

All the following are conditions that lend themselves to a skimming pricing strategy except:

All the following are conditions that lend themselves to a skimming pricing strategy except:




• The market is relatively elastic
• Competition is blocked from market entry
• There is not a appreciable economy of scale at higher production
• The market is relatively inelastic
• You have a sustained market advantage



Answer: The market is relatively elastic

One of the possible strategic purposes of pricing is

One of the possible strategic purposes of pricing is



• Reducing inventory
• Appeasing a particular disgruntled customer
• Matching a competitor in a small, secondary market
• Winning one particular new account
• Creating a barrier to entry for potential competitors



Answer: Creating a barrier to entry for potential competitors.

King lists several functions that should be included in the annual marketing planning cycle; the least important group to include directly in these internal strategic marketing meeting are

King lists several functions that should be included in the annual marketing planning cycle; the least important group to include directly in these internal strategic marketing meeting are




• Wall Street analysts
• Sales team
• Peers in other functions
• Marketing management
• Executive stakeholders in the marketing strategy



Answer: Not

All the following are types of levels of seller role, except

All the following are types of levels of seller role, except



• Motivator/problem solver
• Marketing manager
• Persuader/sustainer
• Order taker
• Relationship/value creator


Answer: Marketing Manager

Because B2B demand is from business customers who cannot switch quickly or easily to alternate suppliers (so they will not vary the quantity demanded much in the short run even if price rises), we say that B2B demand is

Because B2B demand is from business customers who cannot switch quickly or easily to alternate suppliers (so they will not vary the quantity demanded much in the short run even if price rises), we say that B2B demand is




• Sticky
• Elastic
• Inelastic
• Derived
• Highly variable



Answer: Inelastic

Market research for B2B marketing is different from consumer marketing, because in B2B marketing research

Market research for B2B marketing is different from consumer marketing, because in B2B marketing research



• The sample size tends to be smaller
• The customers tend to be less technically savvy
• There are fewer people involved in the buying decision
• Research tends to be more quantitative
• There is less dialog with customers



Answer: The sample size tends to be smaller

A key part of making a mission statement resonate and be meaningful is

A key part of making a mission statement resonate and be meaningful is



• Vetting it with customers
• Passing it through all the analytics
• Getting the Board of Directors to sign off on it
• Targeting the right segments with it
• Making sure it is consistent with the strengths of the company



Answer: Making sure it is consistent with the strengths of the company

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