HSB IB test

Which of the following products would likely use an exclusive distribution pattern: A) A large piece of farm machinery B) A gallon of milk C) A home-decorating magazine D) A silk necktie

A) A large piece of farm machinery

The Phineas Corporation is using internal and external information from its marketing-information management system to determine the strength of the company's current business position. What is the company conducting? A) A situation analysis B) Sales forecasting C) An enterprise research plan D) Risk management

A) A situation analysis

Which step in the new-product development process involves seeking feedback from customers to know what response they would give to a proposed product? (5 points) A) Concept testing B) Product screening C) Idea generation D) Feasibility analysis

A) Concept testing

Which of the following is not a product/service-management activity: A) Conducting interviews with potential employees B) Reassessing products that are not meeting expectations C) Coordinating the product mix D) Sustaining successful products as long as possible

A) Conducting interviews with potential employees

Which of the following is a stage of a product's life cycle: A) Maturity B) Birth C) Death D) Adolescence

A) Maturity

Are all products test marketed? A) No; it can delay entry into the full market. B) No; it is usually an unnecessary step in new-product development. C) Yes; it gives an accurate picture of a product's performance. D) Yes; it guarantees product success.

A) No; it can delay entry into the full market

Why must care be taken in eliminating weak products? A) To prevent damaging a company's image B) To increase the number of product-related complaints C) To reduce a company's market share D) To obtain higher product costs

A) To prevent damaging a company's image

A retailer buys a variety of toys from a number of different producers and makes them all available for sale in the same place. The retailer is reducing a discrepancy of A) assortment. B) installation. C) quantity. D) promotion.

A) assortment.

Product/service management can help to decrease A) business risk. B) financial success. C) profits. D) sales.

A) business risk.

The total number of members in a channel is called A) channel length. B) distribution pattern. C) channel width. D) distribution intensity.

A) channel length.

Product/service management should be approached from the angle of the A) customer's point of view. B) competition's point of view. C) product's technological benefits. D) product itself.

A) customer's point of view.

Marketers at GG Unlimited are using the company's marketing-information management system (MkIS) to learn more about the effectiveness of the company's latest advertising campaign. This is an example of how the MkIS can be used to evaluate A) promotional strategies. B) marketing intelligence. C) competitors' products. D) market opportunities.

A) promotional strategies.

12. Channel members should share an equal commitment to the product's (5 points) A) quality. B) packaging. C) price. D) name.

A) quality.

A producer feels that a retailer is not marketing its product to final consumers aggressively enough. This is an example of A) chargebacks. B) vertical conflict. C) sanctions. D) horizontal conflict.

B) vertical conflict.

External marketing data comes from sources outside the business such as A) customer complaints. B) trade journals. C) sales forecasts. D) inventory records.

B) trade journals.

At what point in the new-product development process does a product's life cycle begin? A) Idea generation B) Commercialization C) Product development D) Test marketing

B) Commercialization

Which function of a marketing-information management system involves collecting facts and figures from internal and external sources on an ongoing basis?

B) Data gathering

What function of a marketing-information management system involves the distribution of marketing information to those who make marketing decisions? A) Data gathering B) Information reporting C) Data processing D) Marketing research

B) Information reporting

What can help product/service managers predict whether a new product will be successful be-fore a business makes a major investment? A) Product life cycles B) Market research C) Product monitoring D) Company goals

B) Market research

In which step of the new-product development process do product/service managers estimate the cost of production and make plans for packaging, labeling, brand name, promotion, and dis-tribution? A) Commercialization B) Product development C) Test marketing D) Idea generation

B) Product development

What characteristic of useful marketing information requires the information to be closely re-lated to the situation in order to be of the most use? A) Accessibility B) Relevancy C) Cost-effectiveness D) Timeliness

B) Relevancy

One basic requirement of a marketing-information management system is that it should be able to A) discard data after they are analyzed. B) collect, process, and store data. C) be used by all personnel. D) operate only when needed.

B) collect, process, and store data.

Product/service management is a marketing function that involves obtaining, developing, main-taining, and improving a product or service mix in response to A) competitors only. B) market opportunities. C) CEO wishes. D) government oversight

B) market opportunities.

A channel task should be performed by the channel member who A) has the most money. B) performs it best. C) has the least money. D) wants to perform it.

B) performs it best.

Product/service management plays an important role in marketing because it affects a busi-ness's strategy to create a certain impression of a product in the minds of customers. This strategy is known as A) project management. B) positioning. C) licensing. D) idea screening.

B) positioning.

The Thirst Quenchers beverage company is surveying prospective customers to determine de-mand for its newest soft drink. Thirst Quenchers is collecting __________ data. A) secondary B) primary C) irrelevant D) economic

B) primary

Services that include delivery, instruction, or maintenance are referred to as __________ services. A) quality B) product-related C) new-product D) pure

B) product-related

Products that are performed rather than produced are known as A) product lines B) services C) private labels. D) brand-name products.

B) services

The first decision that marketers must make when managing channels is A) selecting channel members. B) setting channel objectives. C) determining channel responsibilities. D) determining distribution patterns.

B) setting channel objectives.

What is the relationship between data and information? A) Information is used to create data. B) Data and information are not related. C) Data are used to create information. D) Data and information are the same thing.

C) Data are used to create information.

Producers who eliminate all middlemen in the channel are said to be using __________ distribution. A) consumer B) industrial C) direct D) indirect

C) direct

A marketing-information management system can help businesses to A) discover employee potential. B) motivate employees. C) discover new markets. D) practice good business ethics.

C) discover new markets.

Marketers determine distribution intensity so they can achieve A) perfect market balance. B) total market saturation. C) ideal market exposure. D) complete market coverage.

C) ideal market exposure.

When marketers are trying to reach the greatest number of consumers possible, they use a(n) __________ distribution pattern. A) selective B) exclusive C) intensive D) inclusive

C) intensive

One advantage of information generated by a marketing-information management system is that the information A) will probably be used only once. B) does not need to be stored. C) is presented in an organized fashion. D) provides a narrow perspective of the market.

C) is presented in an organized fashion.

Channels of distribution benefit consumers by A) increasing profits for businesses. B) raising the quality of all consumer products. C) making a variety of products available to them. D) lowering the prices of all consumer products.

C) making a variety of products available to them.

Jerry, a computer salesperson, asks each interested customer to tell him what her/his experi-ences have been at competing computer stores. Jerry is gathering __________ about the com-petition from his customers. A) economic data B) quantitative data C) marketing intelligence D) emotional intelligence

C) marketing intelligence

When a competing product that offers additional benefits enters the market, a business's prod-uct may become A) more popular. B) technologically beneficial. C) obsolete. D) trendsetting.

C) obsolete.

Channel members add value to a product by A) making the product difficult for consumers to find. B) pursuing individual goals. C) performing certain channel activities expertly. D) making the product more costly.

C) performing certain channel activities expertly.

When a marketing-information management system compares financial information from one time period with the financial data from another time period, it provides a picture of the business's A) situation analysis. B) sales forecasts. C) profitability. D) competition.

C) profitability.

Channels of distribution allow channel members to share A) employees. B) profits. C) risk. D) equipment.

C) risk.

The costs of promoting products are often A) paid for entirely by one channel member. B) avoidable in certain channels. C) shared by channel members. D) very inexpensive, especially for new products.

C) shared by channel members.

Which characteristic of useful marketing information is represented by the statement "The benefits of using the information should be greater than the expense of gathering the data used to generate this information"? A) Relevancy B) Accessibility C) Cost-effectiveness D) Timeliness

Cost-effectiveness

Which function of a marketing-information management system involves changing the format of facts and figures to make them more useful? A) Data gathering B) Information reporting C) Marketing research D) Data processing

D) Data processing

Which of the following is a good source of internal data: A) Commercial Internet databases B) Government planning agencies C) Professional marketing research firms D) Enterprise resource planning systems

D) Enterprise resource planning systems

Which of the following controls such new-product considerations as warranties and safety standards: A) Stages in product life cycles B) Product characteristics C) Market research studies D) Government regulations

D) Government regulations

Which of the following statements regarding marketing research is true: A) Marketing-information management is a component of marketing research. B) Marketing research and marketing intelligence are the same thing. C) Marketing research occurs on an ongoing basis and never ends. D) Marketing research is a component of marketing-information management.

D) Marketing research is a component of marketing-information management.

Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management? A) Elimination of weak products B) Monitoring of existing products C) Idea generation D) New-product development

D) New-product development

Which of the following is most likely to help a marketer in setting up the marketing budget: A) Personal interviews with customers B) Marketing intelligence C) Current economic information D) Next quarter's sales forecast

D) Next quarter's sales forecast

Which of the following is NOT a condition that must exist for channels to be effective: A) Channel members must share tasks appropriately. B) Channel members must share common goals. C) They must be properly managed. D) They must have at least five members.

D) They must have at least five members.

Why should existing products be monitored? A) To evaluate how well a product might fit into a firm's product mix B) To determine the acceptance of a product by a limited market C) To put a marketing plan in place D) To make changes to extend a product's life cycle

D) To make changes to extend a product's life cycle

Retailers perform an important channel activity by negotiating with consumers on issues such as A) manufacturing. B) promotion. C) risk-taking. D) delivery.

D) delivery.

The goal of channels of distribution is to move products from producers to A) industrial distributors. B) intermediaries. C) middlemen. D) final consumers

D) final consumers.

Channels of distribution benefit businesses by A) raising their profits each year. B) lowering the prices of all industrial goods. C) allowing them to avoid all channel tasks. D) getting their products to consumers more efficiently.

D) getting their products to consumers more efficiently.

A tangible, or physical, item and the customer benefits that it offers is known as a(n) A) brand name. B) service C) product mix. D) good

D) good

A marketing-information management system should meet the requirements of the A) marketing researcher. B) salesperson. C) computer operator. D) individual business.

D) individual business.

A service that is not attached to any tangible good is known as a __________ service. A) new-product B) product-related C) quality D) pure

D) pure

A wholesaler breaks down a large shipment of a product and sells portions of it to several retailers. The wholesaler is reducing a discrepancy of A) installation. B) promotion. C) assortment. D) quantity.

D) quantity.

Brandi is reviewing marketing information about the possible demand for a new product. In this instance, Brandi's marketing-information management system is most likely to be helping her to A) develop a sales forecast for the company. B) evaluate current promotional strategies. C) determine the competition's market share. D) reduce the risk of product failure.

D) reduce the risk of product failure.

Providing marketing information is an important channel activity. Businesses rely on marketing information to determine A) what to name their products. B) how much to charge for their products. C) how intermediaries are performing. D) their target markets' needs and wants.

D) their target markets' needs and wants.