C11-13 Quiz Bus 51
Each of the following is one of the three classifications of organizational products EXCEPT which one? A.Expense items B.Consulting services C.Capital items D.Production items
consulting services
Which of the following is NOT one of the four stages of the Product Life Cycle? A.Introduction B.Maturity C.Death D.Growth
death
Steps to performing market research include all the following, EXCEPT which one? A.Study the current situation. B.Select a research method. C.Prepare a report. D.Determine the target market.
determine the target market
Market segmentation is defined as ________. A.identifying the marketing objectives stating what marketing will accomplish in the future B.the creation of a feature of an image that makes a product different C.dividing a market into categories of customer types D.studying what customers need and want
dividing a market into categories of customer types
Nonobjective factors are which type of motives? A.Physical B.Irrational C.Rational D.Emotional
emotional
Marketers may face all the following types of competition, EXCEPT which one? A.Employee competition B.Brand competition C.Substitute products D.International competition
employee competition
Which type of research method compares the responses of the same or similar people under different circumstances? A.Focus groups B.Experimentation C.Observation D.Surveys
experimentation
Each of the following is a type of brand name, EXCEPT for which one? A.Private B.Generic C.Licensed D.National
generic
What do institutional market consists of? A.Federal and state governments. B.Hospitals and museums C.Veterinary clinics and nursery schools D.Farmers and manufacturers
hospitals and museums
The ultimate objective of any promotion is which of the following? A.Increase sales. B.Control costs. C.Facilitate distribution. D.Improve quality perception.
increase sales
The categories of organizational markets include all the following, EXCEPT which one? A.Independent B.Industrial C.Services D. Reseller
independent
Which of the following is NOT TRUE about product placement? A.Television placements are widespread. B.Product placement can be seen as celebrity endorsement. C.Like TV commercials, product placements are easy to avoid. D.Product placement is a promotional tactic.
like tv commercials product placements are easy to avoid
Which of the following is NOT a type of pricing objective for businesses? A.Profit-maximizing pricing objectives B.e-business objectives C.Market share pricing objectives D.Mark-up objectives
mark up objectives
Which phase of the marketing plan identifies the planned marketing programs? A.Marketing strategy B.Place C.Marketing objectives D.Product differentiation
marketing strategy
Creative selling requires each of the following EXCEPT which one? A.Media planning B.Prospecting and qualifying C.Presenting D.Approaching
media planning
Foreign markets offer three approaches to extending life cycles. Each of the following is one, EXCEPT which one? A.New product development B.Reintroduction C.Product extension D.Product adaptation
new product development
Which of the following is NOT a distribution strategy? A. Nondirect distribution B.Exclusive distribution C.Selective distribution D.Intensive distribution
non direct distribution
Customers generally buy a product because ________. A.of a recommendation B.of its intangibles C.of its benefits D.of its features
of its benefits
Which of the following pricing strategies works best when introducing a product that already has competitors? A.Above market B.Price skimming C.Penetration D.Below market
penetration
Which of the following would NOT be found on a list of benefits of online retailing from the customer viewpoint? A.Access to diverse product lines B.Personal customer service C.24-hour access D.Efficient shopping experience.
personal customer service
Which of the following terms refers to the activities needed to move products from an intermediary or a manufacturer to customers? A.Warehousing operations B.Physical distribution C.Virtual distribution D.Transportation operations
physical distribution
How are industrial goods defined? A.Tangible goods that the consumer may buy for personal use. B.Products with intangible features C.Physical items used by companies to produce other products D.Goods that are sold from one firm to another company
physical items used by companies to produce other products
Each of the following is a pricing strategy option for existing products, EXCEPT which one? A.Pricing at or near market prices B.Pricing below market prices C.Price skimming D.Pricing about market prices
price skimming
Which of the following is NOT TRUE about pricing for new products? A.Price skimming works best in a highly competitive market. B.Price skimming is an option for new product pricing. C.When introducing new products, companies must often choose between high prices or low prices. D.Penetration pricing is an option for new product pricing.
price skimming works best in a highly competitive market
Which of the following should be the first step in the product development process? A.Product testing and test marketing B.Screening C.Product ideas D.Concept testing
product idea
Which of the following refers to the group of products that a company makes available for sale, whether consumer, industrial, or both? A.Product mix B.Product features C.Product value package D.Product line
product mix
Each of the following is part of the distribution mix, EXCEPT which one? A.Intermediaries B.Retailers C.Promotion D.Wholesalers
promotion
What is a set of techniques for communicating information about products? A.Place B.Product C.Promotion D.Price
promotion
The combination of advertising, personal selling, sales promotions, direct or interactive marketing, publicity, and public relations is referred to by which of the following terms? A.Marketing mix B.Media mix C.Distribution mix D.Promotional mix
promotional mix
Businesses that have supply chains as a cornerstone of their business strategy are required to do each of the following, EXCEPT which one? A.Raise additional capital. B.Identify and assess the entire stream of activities. C.Integrate the entire stream of activities. D.Improve the entire stream of activities.
raise additional capital
Which of the following is NOT one of the tasks of personal selling? A.Order processing B.Missionary selling C.Creative selling D.Real-time ad tracking
real time ad tracking
Types of marketing that emphasizes building lasting relationships are referred to as ________. A.Customer relationship management B.Demographic segmentation C.Relationship marketing D.Consumer behavior
relationship marketing
Which of the following is NOT true about relationship marketing? A.Salespeople communicate one-on-one with potential customers. B.Salespeople gain credibility through relationship marketing. C.Professional interaction is an effective sales tool. D.Relationship marketing does not apply to retail selling.
relationship marketing does not apply to retail selling
When choosing a transportation method each of the following needs to be considered, EXCEPT which one? A.Safety concerns over trucking B Needs and wants of the customer C.Nature of the product D.Distance it must travel
safety concerns over trucking
What is usually the first step in a marketing strategy? A.Marketing research B.Sales promotion C.Product positioning D.Selecting target markets
selecting target markets
Consumer buying process includes all the following steps, EXCEPT which one? A.Purchase decision B.Problem/need recognition C.Evaluation of alternatives D.Social media review
social media review
Which of the following is a type of retailer with specific market segments and full product lines in narrow product fields? A.Supermarket B.Factory outlet C.Specialty store D.Discount house
specialty store
Which of the following terms is used when one website offers another a commission for referring customers? A.e-wholesaling B.e-Commerce C.Rack jobbing D.Syndicated selling
syndicated selling
Which of the following is a downfall of non direct distribution? A.There is little or no benefit to intermediaries. B.The number of intermediaries is limited. C.Intermediaries provide added value. D.The consumer price is higher.
the consumer price is higher
As part of the planning and implementation strategies for any product, marketing managers develop ________. A.the marketing mix B.the marketing paradigm C.the strategic review D.the competitive analysis
the marketing mix
Each of the following is one part of the three-part service process design, EXCEPT which one? A.Facility requirements B.Time compression C.Worker requirements D.Process selection
time compression
Each of the following is a function of the e-intermediary, EXCEPT which one? A.Using data warehousing B.Providing products through online channels C.Processing information D.Using mass communication
using data warehousing
Which of the following is the term marketers use to define the product as a bundle of attributes, benefits, and features? A.Product classification B.Value package C.Product strategy D.Product mix
value package
Which of the following explains the difference between fixed and variable costs? A.Variable costs change with the number of units of a product produced and sold, whereas fixed costs must be paid regardless of the number of units produced and sold. B.Fixed costs are always the same, and variable costs change from month to month. C.Fixed costs are set by contract, whereas variable costs are subject to change. D.Fixed costs are for "needs" of a company and variable costs are for "wants."
variable costs change with the number of units of a product produced and sold whereas fixed costs must be paid regardless of the number of units produced and sold
Which of the following phrases best describes real-time ad tracking? A.Accurate ad-watching behavior of shoppers in malls, theaters, and grocery stores B.The combination of media through which a company advertises C.Specific communication devices for carrying a seller's message to potential customers D.Paid, nonpersonal communication by which an identified sponsor informs an audience about a product
Accurate ad watching behavior of shoppers in malls theaters and grocery stores
Which of the following is NOT true about agents and brokers? A.Agents and brokers need merchandising expertise. B.Agents and brokers are independent sales representatives. C.Agents and brokers work on salary from the producer company. D.Agents and brokers do not own merchandise.
Agents and brokers work on salary from the producer company.
Some of the reasons for small-business pricing errors include all the following, EXCEPT which one? A.Failure to estimate operating expenses B.Looking at the competitive market C.Fear of pricing too high D.considering only manufacturing and material costs
B.Looking at the competitive market
Which of the following is not an example of a function of business-to-business brokers? A.Selling B.Buying C.Buys products from manufacturers and sells them to other businesses D.Services
Buys products from manufacturers and sells them to other businesses
Lifestyle and economic status are which type of influences? A.Social B.Cultural C.Personal D.Psychological
C. Personal
Which of the following statements about new product development is NOT true? A.It is estimated that it takes 50 new product ideas to generate one product that finally reaches the market. B.Creating a successful new product is quite easy for an experienced marketer. C.The number of new products hitting the market each year has increased dramatically. D.The single greatest factor in product failure is the lack of significant difference.
Creating a successful new product is quite easy for an experienced marketer
Which of the following best describes a market segmentation based on age, income, and race? A.Behavioral B. Psychographic C.Geographic D.Demographic
D. Demographic
What aspect of the marketing mix did Little Earth Productions change after examining shopping habits? A.Promotion B.Place C.Price D.Product
D.Product
Which of the following describes the process when the product travels from the producer to the consumer or organizational buyer without intermediaries? A.Distribution by agent B.Direct distribution C.Wholesale distribution D.Retail distribution
Direct distribution
Each of the following is a type of sales promotion, EXCEPT which one? A.Coupons B.Loyalty programs C.Direct marketing D.Premiums
Direct marketing
Each of the following is a component of price setting, EXCEPT which one? A.The Breakeven analysis B.Market share C.Cost-oriented pricing D.Cost-volume-profit relationships
Market share
Which of the following is NOT part of the product value package? A.Benefits B.Price C.Rewards D.Features
Price
Which of the following is TRUE about pricing objectives of the seller? A.Pricing objectives should always include some level of profits. B.Pricing objectives are standardized in most industries. C.Pricing objectives reflect the goals the seller hopes to achieve. D.Pricing objectives should never be overly ambitious.
Pricing objectives reflect the goals the seller hopes to achieve
Which of the following is NOT one of the orientations from which new ideas or visions for new products can stem? A.Business-or user-based B.Technology-based C.Entrepreneurship D.Profitability
Profitability
Which of the following describes the strategy when a firm markets its product to wholesalers and retailers who then persuade customers to buy it? A.Merchandising strategy B.Pull strategy C.Push strategy D.Push-pull strategy
Push Strategy
Which of the following terms refers to the entire stream of activities involved in getting products to customers? A.Wholesaling B.Supply chain C.Upstream suppliers D.Transportation
Supply chain
Which of the following is TRUE about pricing for online business? A.Both Amazon.com and eBay use dynamic pricing. B.Variable pricing is an alternative to conventional fixed pricing. C.Dynamic pricing is the most common option for cyber shoppers. D.Dynamic pricing is not effective for online business.
Variable pricing is an alternative to conventional fixed pricing
Each of the following is one reason why new product development is necessary, EXCEPT which one? A.Meet the demands of shifting consumer preferences. B.A company's success is measure by its number of products. C.Expand or diversify product lines. D.Obtain a competitive advantage.
a company's success is measure by its number of products
Which of the following is NOT considered a type of merchant wholesaler? A.Full-service merchant wholesalers B.Drop shippers C.Agents and brokers D.Limited-function merchant wholesalers
agents and brokers
Which market includes businesses that buy goods to be converted into other products? A.Government B.Industrial C. Reseller D.Services
b. Industrial
B2B buying ________. A.bears little resemblance to consumer buying practices B.requires little marketing effort C.is similar to consumer buying practices D.is tightly regulated
bears little resemblance to consumer buying practices
Characteristics of B2B buyers include all the following, EXCEPT which one? A.B2B buyers are experts about the products they buy. B.Begin with a small sample. C.B2B buyers are trained in methods for negotiating purchase terms. D.Buy in bulk or large quantities.
begin with a small sample
Which of the following is TRUE regarding break-even analyses? A.A break-even analysis finds the sum of variable and fixed costs. B.A break-even analysis reflects business profitability. C.A break-even analysis is not needed for setting prices. D.Both profit and loss are at zero.
both profit and loss are at zero
Which of the following terms is used to describe the process of using names and symbols to communicate the qualities of a particular product made by a particular producer. A.Product identification B.Branding C.Packaging D.Product placement
branding
Which of the following is NOT a type of online retailer? A.Bricks-and-mortar stores B.E-catalogs C.Electronic storefronts D.Interactive retailing
brick and mortar stores
Each of the following is a pricing tactic, EXCEPT which one? A.Discounts B.Psychological pricing C.Bundling D.Price lining
bundling
The four major influences on consumer behavior include all the following, EXCEPT which one? A.Cultural B.Personal C.Business D.Psychological
business
Marketers monitor the ________ to anticipate trends in consumer and business spending. A.mall traffic B.business cycle C.Internet D. WSJ
business cycle
Which of the following is NOT one of the three classifications of consumer products? A.Convenience items B.Capital items C.Specialty items D.Shopping items
capital items
Which of the following refers to a situation when members of the channel disagree over roles or rewards? A.Channel leadership B.Channel mix C.Intensive distribution D.Channel conflict
channel conflict
What does the value of a product do? A.Includes the emotional satisfaction a customer feels owning the product B.Offer price reductions C.Compares its benefits with its costs D.Builds lasting relationships with customers and suppliers
compares its benefits with its costs