MAR3023 - Final Exam

Which of the following is true about e-commerce? A) The quantity of B2B e-commerce far surpasses the quantity of B2C B) Reverse auctions are a common B2C activity. C) B2C e-commerce is steadily declining. D) The quantity of B2C e-commerce far surpasses the quantity of B2B e-commerce E) B2B e-commerce includes online auctions like e-Bay.

A) The quantity of B2Be-commerce far surpasses the quantity of B2C

Trader Joe's, a grocery chain that sells many natural foods, decides that it want to enter markets outside the United States. The marketing department for Trader Joe's views the entire world as a single market and has research that shows that the "natural food fan" segment is worldwide and cuts cross country borders. What type of global marketing approach is Trader Joe's taking? A. Transnational Marketing B. Multidomestic Marketing C. Natural Marketing D. International Marketing E. Multinational Marketing

A) Transnational Marketing

The recently-renegotiated trade agreement covering relations among Canada, the U.S., and Mexico is: A) USMCA B) NAFTA C) EU D) NAICS E) WTO

A) USMCA

Customers can build their own bicycle at SevenCycles.com by answering a few questions and choosing from a menu of options. The design of a customized bicycle is made possible through the use of a: A) choiceboard. B) cookie. C) collaborative filter. D) bot. E) wiki

A) choiceboard

The practice of changing prices for products in real time in response to supply and demand conditions is referred to as A) dynamic pricing. B) elasticity pricing. C) experience curve pricing. D) skimming pricing. E) virtual pricing.

A) dynamic pricing

A method of pricing where the price the seller quotes includes only the cost of loading the producton to the vehicle and specifies the location where the loading is to occur is referred to as: A) free on board (FOB) origin pricing. B) free on board (FOB) destination pricing. C) paid on board (POB) geographical pricing. D) uniform delivered pricing. E) mode of transportation pricing.

A) free on board (FOB) orgin pricing

Generally, as the proportion of middle-income households in a country __________ , the _________ a nation's purchasing power. A) increases; greater B) levels off; greater C) decreases; greater D) increases; lesser E) There is no relationship between middle-income households and a nation's purchasing power

A) increases; greater

Hasbro is a more than $4 billion global toy company that prioritizes donating to organizations that help children, since this group and their parents comprise the target market for its business. This is an example of a: A) social responsibility goal. B) customer satisfaction goal. C) market share goal. D) unit sales goal. E) sales revenue goal.

A) social responsibility goal

The Migos Emporium is a small store in a mall in Atlanta. They have a narrow selection mostly centered around sunglasses, but they provide excellent service to their customers. What type of store is the Migos Emporium? A) specialty store B) discount store C) power retailer D) department store E) bulk retailer

A) specialty store

The marketing strategy of developing new products (i.e., in categories not previously offered by the firm) and selling them in new markets is referred to as A. market penetration B. diversification C. product penetration D. market development E. product development

B)

Suppose Kit-Kat holds 20% market share for candy bars, as well as 20% share of voice. Kitty, the brand manager for Kit-Kat, wants to increase her market share by 4 share points. Kit-Kat's total gross margin is $1 million. If the total industry marketing effort is $3 million, what is the short-term gain or loss by Kit-Kat if it is successful in expanding its market share by the desired amount? A) $180,000 loss B) $20,000 gain C) $200,000 gain D) $80,000 gain E) $10,000 loss

B) $20,000 gain

Larry's Lounge Chairs has the following annual fixed costs: $25,000 in rent, $7,000 in taxes, and $3,000 in insurance. Each lounge chair costs $11 to make. Larry and his employees can produce a maximum of 75 chairs each month. Assuming they are able to sell all of these chairs, what is the breakeven price and the contribution per chair? A) 477.67; $466.67 B) $49.89; $38.89 C) $39.82; $38.89 D) $49.89; $11.00 E) $39.82; $28.82

B) $49.89; $38.89

Lululemon uses a markup strategy to set their retail prices. Their most popular legging, the Wunder Under costs them $45 to manufacture. They have a markup of 35%. What is the price that Lululemon will charge for the Wunder Under leggings? A) $60.75 B) $69.23 C) $29.25 D) $74.25 E) $15.75

B) $69.23

Walmart's biggest competitor, MartWall, reported the following information after opening 41 new stores in the past year. Compute the same store sales growth. May 2015 May 2016 Total # of Stores 271 312 Total Net Sales $40M $62M # New Stores 35 41 Net Sales (new stores) $13M $15M A) 55% B) 17.5% C) 15.4% D) 11.3% E) 24.2%

B) 17.5%

Megan owns a boutique in Jacksonville, Florida. She recently purchased an assortment of beaded bracelets for a cost of $1.75 each. She sells these in her store for $5.00 each. What is Megan's percentage markup? A) 154% B) 65% C) 35% D) 186% E) 54%

B) 65%

A situation where products are bought in a country with lower prices from a manufacturer's authorized reseller, shipped to countries with higher prices, and then sold through unauthorized retailers below the manufacturer's suggested retail price is referred to as _________. A) the black market B) a gray market C) dumping D) a globalized market E) parallel exporting

B) A gray market

The retail positioning matrix classifies retailers according to which two dimensions? A. Management structure; Value added B. Breadth of product line; Value added C. Depth of product line; Ownership structure D. Store location; Store type E. Breadth of product line; Depth of product line

B) Breadth of product line; Value added

TJX Companies owns and operates all of the TJ Maxx, Marshall's, and HomeGoods stores. This form of ownership allows for centralization in decision making and purchasing. This fits the description of what form of retail ownership? A. Independent retailer B. Corporate chain C. Product-distribution franchise D. Business-format franchise E. A non-franchise-based contractual system

B) Corporate chain

You've just begun to manufacture your own invention called the Flying Remote, a TV remote control that will fly to your hand when you don't want to get off the couch. You find that retailers want too big of a discount to stock your remotes, so you decide to sell directly to consumers through E-commerce. What practice are you engaging in? A) Revolution B) Disintermediation C) Horizontal integration D) Collusion E) Disintegration

B) Disintermediation

Nike is designing a new shoe called Bombaz that will increase shock resistance so that runners can go further without feeling the impact on their ankles and knees. To manage the launch of this new product, Nike produced the PERT chart below. The numerals next to each link represent months: ACFJ = 16 ACEHJ = 20 ABEHJ = 18 ADEHJ = 24 ADGIJ = 12 If Nike wants to release the Bombaz in 22 months, which of the links below must they shorten? A. C to E B. E to H C. D to G D. F to J E. C to F

B) E to H

Lululemon is an athletic apparel company. They are trying to increase efficiency in their stores, so they put RFID chips in all of their clothes. This allows inventory to be stocked in a timely manner, and it allows customers to check out more efficiently. The use of RFID chips by Lululemon is an example of what? A) Shrinkage control B) Electronic Data Interchange C) Category Management D) Vendor-Managed Inventory E) Just-in-Time Inventory

B) Electronic Data Interchange

Dan has created novelty Gator bottle openers and is gearing up to sell them on his new website. The cost to manufacture his Gator bottle opener in the United States is $3.50 a unit, while the cost to manufacture it in China is $1.25. He is intrigued by this cost difference and chalks it up to a disparity in labor wages between the countries. He has decided to outsource his manufacturing operation to China to achieve lower costs and higher margins. Which of the following does Dan's decision illustrate? A) Domestic Competition B) Foreign Competition C) Franchising D) Balance of Trade E) Ethnocentrism

B) Foreign Competition

Apple's strategy for the iPad is to let its market share slowly diminish over time. Apple realizes it is better to invest in other products like the iPhone and Apple TV, but it doesn't want to shut down the iPad altogether. Apple's strategy for the iPad is: A) Promote B) Harvest C) Divest D) Grow E) Maintain

B) Harvest

The choice of a supply chain follows from a clearly defined marketing strategy and involves three steps: (1) ________, (2) understand the supply chain, and (3) harmonize the supply chain with the marketing strategy. A) consider the legal consequences of partnering B) understand the marketing strategy C) understand the company's goals D) understand the environment E) understand the customer

E) understand the customer

Channel conflict refers to A. when one distributor carries two competing brands. B. when the producer doesn't allow other channel members to have input regarding product specifications or benefits. C. disagreements over the trade discounts allotted to each level of the distribution chain by the Federal Trade Commission. D. regulatory restrictions limiting the number of distributors that can sell a producer's products. E. when one channel member believes another channel member is engaged in behavior that prevents it from achieving its goals.

E) when one channel member believes another channel member is engaged in behaviour that prevents it from achieving its goals

Cameron is looking to expand his homemade pizza parlor, Cameron's pizza - home of the "American Pizza" - to countries outside the United States. His "American Pizza" is pizza topped with hamburger, pepperoni, bacon, and even has bacon stuffed crust. When looking at what countries to expand to, he takes into account the diet of inhabitants (since some countries tend to eat more meat than others), the income of the countries (to ensure people could afford his pizza), and what countries have explicit environmental policies for businesses (because Cameron is trying to be as "green" as possible in his business practices). Which of the following aspects of cross-country analysis did Cameron NOT consider? I. Economic II. Demographic III. Social/Cultural IV. Natural V. Technological A. II, III, and IV B. II and V C. II, III, and V D. I, II, and IV E. I,III, and IV

B) II and V

Today, there are over 15,000 McDonald's restaurants in the U.S., conveniently located for consumers to get a quick meal. In contrast, Del Frisco's Steakhouse is a high-end restaurant with only one location in each of the 30 largest cities in the U.S. What kind of channel coverages are McDonald's and Del Frisco's using, respectively? A. Selective; Exclusive B. Intensive; Exclusive C. Intensive; Selective D. Exclusive; Intensive E. Exclusive; Selective

B) Intensive; Exclusive

Sebastian owns Oahu, an açai bar, which currently operates in Ecuador. He wants to sell his products in Peru. After analyzing his options, he decides that he wants a partner in Peru so the risks are shared and market entry is easier. What type of market entry strategy is Oahu using? A) Licensing B) Joint Venture C) Direct Investment D) Exporting E) Importing

B) Joint Venture

Yesterday, Jacob's bike broke. He's had his bike for 10 years and decided to invest in another one. He's considered going to a few brick-and-mortar stores or using online retail. Which of the following would be the most important reason for Jacob to use electronic retailing to find a new bike? A) Tangible interaction with the product B) Large number of alternatives C) Sales associate to explain the bike's features D) Talking with other customers while shopping E) Retailtainment

B) Large number of alternatives

Nike is looking to increase its market share in athletic wear. The table below shows data about the market: Nike Athletic Wear Total Sales: $9,000,000 Nike Athletic Wear Gross Margin: $2,000,000 Total Industry Sales: $90,000,000 Total Industry Marketing Effort: $15,000,000 Nike Athletic Wear wants to expand its market share by 4 points by investing in additional marketing effort. What is the expected profit or loss if their strategy is successful? A) Profit of $800,000 B) Loss of $100,000 C) Profit of $200,000 D) Loss of $900,000 E) They will break even.

B) Loss of $100,000

Starbucks has locations in numerous countries across the globe. Starbucks uses a third-party market research group to gather information about their target consumers' preferences in each country. After analyzing the data, Starbucks decides to focus its marketing efforts on promoting its wide variety of drinks in Japan, while promoting the special discounts on drinks (e.g., Half Price Happy Hour) to attract consumers in the United Kingdom. This approach is best described as: A) Consumer Preference Marketing B) Multinational Marketing C) International Marketing D) Transnational Marketing E) Global Marketing

B) Multinational Marketing

Lauren recently ordered a dress on a boutique website called 'Vintage Finds'. Later that day, she received a call from her bank that her credit card information may have been stolen, due to a mysterious $300 charge from a gas station. She contacts 'Vintage Finds' and they apologize for the issue, explaining that they just learned that a fake Vintage Finds website has been intercepting their orders. This is an example of which form of Internet fraud? A) Phishing B) Pharming C) Evil Twin D) Net neutrality E) Phool me once, shame on you

B) Pharming

Ines receives an email that says her Apple ID Account has been compromised and provides a link to reactivate her account. It also says that if she doesn't reactivate her account in 24 hours, Apple will shut it down. She quickly clicks on the link and enters all her personal information including her bank account information. The next day Ines realizes $500 has been stolen from her bankaccount. This was an example of: A) Pharming B) Phishing C) Scam Site D) BZC e-commerce E) Evil Twin

B) Phishing

Brooke is looking for a new pair of sneakers, so she decides to go to her favorite Florida department store, Bealls. Unfortunately, when she arrives in the shoe section, she finds that they sell only one brand of sneakers, Skechers. Not a fan of Skechers, Brooke decides to try another store, which she hopes will have a better selection of sneakers. Which retail function was Bealls failing perform? A) Breaking bulk B) Providing assortment C) Holding inventory D) Atmospherics E) Providing value-add services

B) Providing assortment

In 2017, the coffee shop industry's total sales were approximately 22 billion dollars. In 2018, sales increased to 25 billion dollars. Which cell in the BCG growth-share matrix would Caribou Coffee fall into? Coffee Shop Market Share Caribou Coffee 10.7% Dunkin' Donuts 18.1% Starbucks 37.4% McCafe 9.1% A) Cash cow B) Question Mark C) Can't tell from information given. D) Dog E) Star

B) Question Mark

In 2019, the toilet paper industry's total sales were approximately 30 billion dollars. In 2020, sales increased to 40 billion dollars. Which cell in the BCG growth-share matrix would Angel Soft fall into? Toilet Paper Brand | Market Share Quilted Northern | 32.5% Angel Soft | 22.1% Charmin | 17.4% Cottonelle | 8.7% A) Cash Cow B) Question Mark C) Dog D) Star E) Cat

B) Question Mark

The owner of Relish in Midtown wants to conduct a test to see if his employees are meeting customers' needs during their prime time of 1AM. The owner sends in a "fake customer" to order a burger and observe the employees' actions. One employee, Greg, does an outstanding job helping the customer, so he gets placed in a drawing to win free movie tickets. This approach to improving implementation is which of the following? A) Just Do It B) Reward Performance C) Communication D) Schedule Tasks E) Leadership

B) Reward Performance

A Gantt chart is generally used for: A. Making contingency plans B. Scheduling a project C. Evaluating a promotional campaign D. Showing how a business unit is organized E. Budgeting marketing activities

B) Scheduling a project

Dual distribution refers to: A) professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact. B) an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product. C) the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy intraditional intermediaries and online. D) a level of distribution density whereby a firm selects a few retailers in a specific geographical area to carry its products. E) a practice whereby one firm's marketing channel is used to sell another firm's products.

B) an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product.

Eastman Kodak accused Japanese rival Fuji Photo Film of selling photographic paper in the United States for 25 percent below what it charges in Japan. In other words, Eastman Kodak accused Fuji of __________. A. tariff avoidance B. dumping C. underbidding D. surplus marketing E. countertrade

B) dumping

The clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as A) competitive duplicity. B) economic espionage. C) trade piracy. D) transnational fraud. E) transnational espionage.

B) economic espionage

An Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings is referred to as a(n) __________. A. intranet B. marketspace C. web portal D. extranet E. marketplace

B) marketspace

The ratio of __________ to price is referred to as value. A. perceived quality B. perceived benefits C. costs D. profits E. prestige

B) perceived benefits

In marketing strategy formulation and implementation, the difference between the projected path to reach a new goal and the projected path of the results of a plan already in place is referred to as the __________. A. breakeven point B. planning gap C. contribution margin D. sales response function E. points of difference

B) planning gap

Seeking opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies is referred to as: A) sales response analysis B) synergy analysis C) SWOT analysis D) differentiation analysis E) competitive grid analysis

B) synergy analysis

All of the following are demand factors except: A) consumer income B) the form of promotion C) the price of similar products D) the availability of similar products E) consumer tastes

B) the form of promotion

The description of how new forms of retail outlets enter the market is referred to as the A) product life cycle. B) wheel of retailing. C) retail life matrix. D) retail continuum. E) retail life cycle.

B) wheel of retailing

The Reese's division of the Hershey Candy Company incurs fixed costs of $250,000. Each candy bar produced has a variable cost of $.30, and the division produces 500,000 candy bars annually. What is Reese's breakeven price? A. $0.30 B. $1.00 C. $0.80 D. $0.50 E. $0.20

C) $0.80

ThriveMarket.com wants to grow its market share in the online marketplace industry. Calculate how much additional marketing expense it would cost Thrive-Market to expand its market share by 4 share points. You are given the information below: Industry Sales: $64,000,000 ThriveMarket's Sales: $7,000,000 ThriveMarket's Gross Margin: $2,200,000 Total Industry Marketing Effort: $9,000,000 A. $360,000 B. $450,000 C. $540,000 D. $720,000 E. $240,000

C) $540,000

Hefty currently holds 31% market share in the trash bag market and wants to expand to 45% market share. If its current share of voice is 31%, Hefty's share of voice should increase by ____to achieve this growth. A) 46.5% B) 14% C) 21% D) 52% E) 45%

C) 21%

Costco is interested in finding their stockturn rate for S'mores granola bars last year. Their COGS was $545,000, their beginning inventory was $23,000 and ending inventory was $17,000. What was Costco's stockturn rate for S'mores granola bars (round to the nearest whole number)? A. 91 B. 32 C. 27 D. 14 E. 24

C) 27

Milena's Coffee House began selling tea in last year. Milena feels that the tea has not been selling at a fast enough rate. Milena decides to calculate the stock turn rate of the tea to determine if she should keep selling it. She had a beginning inventory of $3,500 and ended with an inventory of$10,000. The cost of the tea sold during the year was $27,000. What is her stockturn rate? A) 2.7 turns per year B) 2 turns per year C) 4 turns per year D) .25 turns per year E) 7.7 turns per year

C) 4 turns per year

Nike holds 30% market share in the running shoes market and also has a 30% share of voice. If Nike is looking to increase their market share to 45%, how much would Nike's share of voice need to be? A) 15.0% B) 22.5% C) 52.5% D) 45.0% E) 30.0%

C) 52.5%

Claudia is trying to open a musical instrument store with her two friends Alex and Anna. Claudia wants to be the main salesperson; Alex will be in charge of ordering the instruments and stocking the store; and Anna will work on developing a rewards system to help retain customers. Who is performing which function in the distribution channel? A. Claudia - logistical, Alex - transactional, Anna - facilitating B. Claudia - transactional, Alex - facilitating, Anna - logistical C. Claudia - transactional, Alex - logistical, Anna - facilitating D. Claudia - facilitating, Alex - logistical, Anna - transactional E. Claudia - logistical, Alex - facilitating, Anna - transactional

C) Claudia - transactional, Alex - logistical, Anna - facilitating

E&J Gallo Winery is one of the largest wineries in the world. They are headquartered in California, but they are interested in expanding their portfolio to include Spanish wines. They decide to go overseas to Spain and partner with two local vineyards to build a winery. This is an example of what global market entry strategy? A) Direct Investment B) Exporting C) Joint Venture D) Globalization E) Licensing

C) Joint Venture

Stephanie is an avid shopper. She prefers to buy from her favorite stores by using apps on her phone. Stephanie enjoys the convenience of having all her favorites at her fingertips. What is Stephanie partaking in? [choose the best answer] A) P-Commerce B) I-Commerce C) M-Commerce D) E-Commerce E) C-Commerce

C) M-Commerce

Regarding goals and objectives, which of the following statements is most accurate? A) Goals and objectives are the detailed day-to-day activities necessary to implement a marketing program. B) Goal-setting only applies to business firms; nonprofit organizations typically do not set goals. C) Objectives convert an organization's mission and business into long- and short-term performance targets. D) The terms goal and objective should not be used interchangeably. Goals are philosophical while objectives are performance-based. E) A company's goals and objectives are often worthy in intent, but unrealistic in practice because they are never accomplished during the specified time period.

C) Objectives convert an organization's mission and business into long- and short-term performance targets.

Tire Kingdom sells three types of tires. They have a basic tire that sells for $100, a mid-priced tire that sells for $150, and a luxury tire that sells for $200. By offering tires at these three different price points, what pricing approach is Tire Kingdom using? A. Odd-even pricing B. Yield management pricing C. Price lining D. Skimming pricing E. Bundle pricing

C) Price lining

The fashion brand Tommy Hilfiger has added new technology to its store in New York. When customers enter the store, they are invited to put on virtual reality headsets that give them the illusion that they have front row seats at the latest runway fashion show. This marketing technique is groundbreaking and offers customers a unique, completely immersive digital experience. The Tommy Hilfiger brand is engaged in: A) Recreational Shopping B) Retailaction C) Retailtainment D) Ambience Retailing E) Creating Time Utility

C) Retailtainment

Which of the following statements regarding the seller's price is most accurate? A) Competitive environments affect a firm's pricing objectives, but not its actual product prices. B) Price changes cannot be regulated in a monopoly. C) The seller's price is constrained by the type of market within which it competes. D) Internet price changes are regulated by the Internet Fair Practices Act to protect consumers against price gouging. E) The type of market has little or no impact on a firm's prices

C) The seller's price is constrained by the type of market within which it competes.

Samantha loves craft beer. Every time she travels somewhere new she tries a different craft beer. Samantha loves beer so much that she has decided to open up a beer and wine store in Gainesville called Hops & Grapes. Since Samantha does not know much about wine, she is relying on her wine supplier to stock that portion of her store and turn a good profit for her. What type of inventory management is Samantha using for the wine section of Hops & Grapes? A. Electronic Data Interchange (EDI) B. Materials Handling C. Vendor-Managed Inventory (VMI) D. LIFO E. Just-in-time (JIT) Inventory

C) Vendor-Managed Inventory (VMI)

Madeline is working for an online business that looks to help people build relationships, connecting those who are looking to connect with others whether that is dating or friendships. Her business doesn't sell any products or services to the consumers who visit. Instead, the business generates revenue by selling banner ad space. Which of the following best describes the function Madeline's business performs? A) Facilitating Sales B) Brand Building C) Virtual Community D) Business-to-Business E) Transactional Website

C) Virtual Community

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane, he or she can visit this site, list the price and available truck space, and find a company that needs a shipment moved. Since the purpose of this website is to put buyer and sellers together so that a single sale can be made, this website can be categorized as: A) a manufacturer's agent. B) a selling agent. C) a broker. D) an administrator. E) a manufacturer's representative

C) a broker

A store chain is looking for a wholesaler to furnish its health and beauty display shelves, perform all channel functions, and sell to it on consignment. Which of the following would be the wisest wholesaler choice for its requirements? A) a truck jobber B) a cash and carry wholesaler C) a rack jobber D) a desk jobber E) a drop shipper

C) a rack jobber

The Brazilian government wants to build a global positioning satellite (GPS) system. The satellite manufacturer will receive a mutually agreed upon pre-set dollar amount of profit over and above all costs associated with the project. The pricing approach the satellite manufacturer uses is called A. bundle pricing. B. standard markup pricing. C. cost-plus fixed-fee pricing. D. cost-plus percentage-of-cost pricing. E. experience curve pricing.

C) cost-plus fixed-fee pricing

The online consumer who researches products online and then purchases them at a retail store is referred to as a __________ shopper. A. marketspace B. casual C. cross-channel D. showrooming E. traditionalist

C) cross-channel

A markdown refers to A) the difference between the final selling price and the retailer's cost. B) the amount the manufacturer adds to achieve the desired suggested retail price. C) discounting a product when it does not sell at the original price. D) the lowest price to which a retailer can reduce a sales ticket and still make a profit. E) the net margin.

C) discounting a product when it does not sell at the original price.

Channel conflict that arises when one member bypasses another member and sells or buys products directly is referred to as A) lateral conflict. B) horizontal conflict. C) disintermediation. D) dual distribution. E) channel circumvention

C) disintermediation

Yield management pricing is a form of: A) target pricing. B) loss-leader pricing. C) dynamic pricing. D) customary pricing. E) price lining.

C) dynamic pricing

All of the following are forms of nonstore retailing except : A) television home shopping B) telemarketing C) factory outlets D) direct selling E) online retailing

C) factory outlets

Each strategic business unit has marketing and other specialized activities (e.g., finance, manufacturing, and research and development) at the ________ level, where groups of specialists actually create value for the organization. A) strategic B) corporate C) functional D) business unit E) tactical

C) functional

Demand for a product is likely to be more price elastic if it A) has few substitutes. B) is nondiscretionary. C) has many substitutes. D) requires a small cash outlay. E) is considered a necessity.

C) has many substitutes.

Marketers may engage in value pricing, which is the practice of simultaneously ________ while maintaining or decreasing price. A) analyzing benefits B) decreasing profit C) increasing product and service benefits D) promoting specific product and service benefits E) decreasing cost

C) increasing product and service benefits

Which term describes factors that limit the range of prices a firm may set? A) pricing demands B) pricing margins C) pricing constraints D) price fixing E) price elasticities

C) pricing constraints

Marginal cost is the change in total cost that results from: A. increasing the number of units produced by 1 percent. B. the percentage change that results from changing a product feature or service benefit to reduce costs. C. producing and marketing one additional unit of a product. D. increasing the number of products in a product line. E. subtracting cost of goods sold (COGS) from sales revenue.

C) producing and marketing one additional unit of a product.

Four basic business and management practices are what matter—"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques. These are: (1) strategy, (2) execution, (3) culture, and (4) ________. A) ethics B) quality C) structure D) sustainability E) charismatic leadership

C) structure

Marketing ROI (return on investment) refers to: A) the application of modern measurement technologies to understand, quantify, and optimize production costs. B) the allocation of funds based on a percentage of the total marketing budget determined by assessing the anticipated revenue return for a given marketing action. C) the application of modern measurement technologies to understand, quantify, and optimize marketing spending. D) the allocation of funds based upon the minimum expenditure possible to create the maximum results in terms of total sales. E) the application of modern measurement technologies to understand, quantify, and optimize research and development (R&D) expenses.

C) the application of modern measurement technologies to understand, quantify, and optimize marketing spending.

Cookie Dough Deluxe is a raw cookie dough manufacturer that sells to numerous bakeries in Nashville through a distributor that uses a 25% markup. If Mimi's Sweets, a popular local bakery retailer, sells their baked cookies for $6.00 per dozen, with a markup of 45%, what price should Cookie Dough charge per dozen using the Demand-Minus Pricing method (rounded to the nearest cent)? A) $3.31 B) $3.53 C) $3.02 D) $2.48 E) $1.80

D) $2.48

Keke's Café, a Gainesville breakfast spot, currently has a market share of 15%. They want to expand their market share to 25% in order to take customers away from Peach Valley and Flying Biscuit. How much additional share of voice does KeKe's need in order to achieve the desired increase in market share? A) 40% B) 25% C) 10% D) 15% E) 37.5%

D) 15%

Apple is designing a new, smaller iPhone SE model since too many people complain that the recent model doesn't fit in their pockets. To manage the launch of this new product, Apple is using the PERT chart below. The numerals next to each link represent months. What is the fastest (in months) that Apple can launch the new phone? B ---2--> E --6--> I ---5---> J 2 / \1 1/ / \3 A --4-> D ----8--->G ---3--- /----> K 7\ \1 /4 C --2--> F ----3---> H A) 22 B) 15 C) 18 D) 21 E) 14

D) 21

Under Armour just released their new Independence Day Collection featuring the HOVR Sonic Running Shoe. The shoes cost $90 to manufacture and have a selling price of $200. What is Under Armour's percentage markup? A) 45% B) 122% C) 100% D) 55% E) 69%

D) 55%

Each phase of the strategic marketing process creates its own unique type of output report. Which of the following would be associated with the implementation phase? A) marketing plans that define goals with the pertinent marketing metrics and the marketing mix strategies to achieve them B) sales reports using the firm's marketing metrics and dashboards C) performance reviews for key personnel D) action memos that tell who is to do what by when E) corrective action memos, triggered by comparing results with plans, often from the firm's marketing dashboards and metrics

D) Action memos that tell who is to do what by when.

Imagine that Susie, an American consumer, dislikes all imported goods simply because they are foreign. She thinks that it is always inappropriate to buy foreign-made goods, and believes that American products are always superior. Susie seems to be displaying: A. Economic lateralism B. A transnational viewpoint C. A semiotic strategy D. Consumer ethnocentrism E. Protectionism

D) Consumer ethnocentrism

Albert owns a Gator football merchandise company. He had heard that the football merchandise industry's market growth rate would increase in 2020.In preparation for the season he decided to invest in expanding his range of merchandise by purchasing new supplies and machinery. However, the 2020 football season did not produce a higher growth rate but instead saw the lowest growth rate in the past 10 years. Luckily, Albert had prepared for this possibility and had a sequence of actions already outlined for him to take to reduce his losses. What component of the marketing plan allowed Albert to be prepared for the lower market growth? A) Strategy B) Tactics C) Objectives D) Contingency Plan E) Situation Analysis

D) Contingency Plan

Bloomingdale's offers a broad selection of items at high prices. It is known for being a high-end store due to the extensive services that it offers. From luxury purses and belts, to sneakers and apparel, you can find a wide range of products. Bloomingdale's is an example of what type of retailer? A) Category killer B) Power retailer C) Discount store D) Department store E) Specialty store

D) Department store

Samantha owns a store selling women's workout clothes. She purchases inventory from well-known manufacturers. The inventory is shipped to her store via FedEx from the suppliers' warehouses. Samantha's sales associates do a great job of waiting on her customers and ringing up sales efficiently. Which concepts appear in this example? i. Logistical function ii. Transactional function iii. Facilitating function iv. Just-in-Time Inventory v. Vendor-Managed Inventory A) I only B) II and IV only C) I, II, and IV only D) I and II only E) II, IV, and V only

D) I and II only

Most of the 1.1 million retail establishments in the United States are considered: A) corporate chains. B) contractual systems. C) conglomerates. D) independent retailers. E) multinationals.

D) Independent retailers

One recent and important trend is the practice of offering small low-interest loans to individuals in developing countries. For example, women in Guatemalan villages who independently make and sell jewelry receive small loans that allow them to buy the glass beads they use in the jewelry. The women pay off these loans once they have sold the jewelry, and they use the rest of their income to support their families. This practice is known as: A. Predatory lending B. Countertrade C. Contract manufacturing D. Microfinance E. Multidomestic marketing

D) Microfinance

Eliza loves being a Sephora cardholder because she gets advance notice of upcoming sales, free samples, and exclusive makeup tutorials from the Sephora sales associates. This is an example of a retailer adding value through: A. Location B. Providing assortments C. Holding inventory D. Providing services E. Breaking bulk

D) Providing services

Which of the following is NOT a general problem with cost- and profit-based pricing? A) They assume that everything produced is sold at full price. B) They fail to account for economies of scale. C) They ignore competitive factors. D) They focus too much on consumer demand. E) They are internally focused.

D) They focus too much on consumer demand.

A(n) __________ website is essentially an electronic storefront with the primary purpose of converting an online browser into an online, catalog, or in-store buyer. A) direct selling B) multichannel C) intermediary D) transactional E) promotional

D) Transactional

GamePlace.com is a website where video gamers can share their game secrets and experiences with other players. The site features lively discussions and lots of advice. Although many videogame companies advertise on Gameplace, the site itself is not owned by any videogame company. What use of the internet does GamePlace.com exemplify? A) Transactional website B) Facilitating sales C) Brand building D) Virtual community E) Promotional website

D) Virtual community

The institution that sets rules governing trade among 160 member nations, resolves disputes, and issues binding decisions is: A) NAFTA B) Global Better Business Bureau (BBB-G) C) Association for International Commerce (AIC) D) World Trade Organization (WTO) E) United Nations

D) World Trade Organization (WTO)

Loss-leader pricing refers to: A) a method of pricing based on a product's tradition, standardized channel of distribution, or other competitive factors. B) pricing a product between 8 and 10 percent lower than nationally branded competitive products. C) setting a low initial price and gradually but consistently increasing that price so as not to antagonize the consumer. D) deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well. E) a pricing method where the price the seller charges is below the actual cost to make the product

D) deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will by other products as well.

McDonald's realized that a lot of food was being wasted due to overproduction when the food was pre-cooked. Additionally, their customers were not able to enjoy freshly made food. As a result, McDonald's only cooks or assembles food after a customer makes an order. What type of logistics approach is McDonald's using? A) vendor managed inventory B) radio frequency identification tags C) category management D) just-in-time inventory management E) electronic data interchange

D) just-in-time inventory managemetn

The primary purpose of a marketing metric is to A) allow the sharing of information across product lines. B) forecast potential product/service opportunities over a period of five years. C) provide a numerically precise measurement of management judgment for an industry's growth. D) measure the quantitative value of a marketing activity. E) assign qualitative values to quantitative data.

D) measure the quantitative value of a marketing activity.

Starbucks Coffee has a strong brand image and an extensive global supply chain. However, Starbucks Coffee also has higher costs than its competitors. Starbucks has recently identified high demand for coffee houses in the Middle East and parts of Asia where the firm currently has minimal presence. Which of the following SWOT analysis component(s) has/have NOT been mentioned in this analysis? A) strengths B) opportunities C) both opportunities and threats D) threats E) weaknesses

D) threats

Leonardo's Pizza by the Slice has an annual fixed cost of $40,000. Each slice of pizza sold at Leonardo's has a variable cost of $0.40. During the 2017-2018 school year, 9,000 slices of pizza were sold. Leonardo's Pizza wanted to make a $10,000 profit. What should they have charged per slice of pizza? A) $4.84 B) $6.56 C) $6.75 D) $5.56 E) $5.96

E) $5.96

Otter Box, an American smartphone case company, decides to enter the Asian smartphone market. They are partnering with Samsung, a South Korean company, to create a limited edition phone case especially for Samsung's new Galaxy smartphone. What type of global entry strategy is Otter Box using? A. Licensing B. Franchising C. Direct Investment D. Exporting E. Joint Venture

E) Joint Venture

________ consider what products and services to keep, add, and delete in the future using a portfolio analysis, present new marketing initiatives, and address marketing organization topics. A) Marketing tactics B) Marketing forensics C) Generic marketing strategies D) Short-term marketing plans E) Long-range marketing plans

E) Long-range marketing plans

One of Allegiant Airlines' biggest competitors is Spirit. The two airlines are constantly in a price war. When one of them announces a low fare sale, the other counters with an even lower fare. What is necessary for Allegiant to be successful in price competition with Spirit? A. Increase the number of routes offered B. Offer more legroom and better snacks and drinks C. Heavily advertise their low fares on TV D. Target Spirit's customers efficiently E. Make sure they are the low cost provider

E) Make sure they are the low cost provider.

Chobani, the popular Greek yogurt company, completed an evaluation of their marketing plan and learned that their Chobani "Simply 100" yogurt product yielded 35% more profit than the Chobani "Fruit on the Bottom" product and 25% more profit than the Chobani "Blended" product. These findings resulted from a: A. Sales Component Analysis B. Contingency analysis C. Marketing audit D. Sales analysis E. Profitability analysis

E) Profitability analysis

Compared to marketing strategies, marketing tactics generally involve actions that A) are long-term rather than short-term. B) involve upper levels of management rather than front-line managers. C) are general rather than specific in nature. D) have been successfully implemented in the past. E) are detailed day-to-day operational decisions.

E) are detailed day-to-day operational decisions.

A dynamic pricing policy allows marketers to respond to A) inquiries by government agencies. B) threats of discrimination. C) requests for allowances. D) success measures for the firm's previous promotions. E) changes in demand, cost, and competitive factors.

E) changes in demand, cost, and competitive factors.

When you view a selection at Amazon.com and see "Customers who bought this (item) also bought...," you are seeing the application of A) choiceboards. B) adaptive selling. C) multichannel marketing. D) personalization. E) collaborative filtering.

E) collaborative filtering

Weight Watchers is a weight-management company with operations in about 30 countries. Consumers buy almost $5 billion of Weight Watchers-branded products each year, and every week approximately 1.3 million people attend Weight Watchers meetings. The company's brand recognition and meeting infrastructure are difficult for competitors to match, providing a: A) core benefit. B) sales orientation. C) viable mission. D) tactical innovation. E) competitive advantage.

E) competitive advantage

In Detroit, a woman came back from lunch to find a nasty note on her Toyota Camry about failing to support the American economy by purchasing a foreign vehicle. The person who left the note was exhibiting: A) cultural semiotics. B) the trade feedback effect. C) countertrade D) protectionism. E) consumer ethnocentrism.

E) consumer ethnocentrism

American Airlines decided to terminate its relationship with Orbitz and Expedia, two online ticketing and travel sites, and sell directly through their own website, AA Direct Connect. This is an example of A) horizontal conflict. B) corporate conflict. C) forward integration conflict. D) lateral conflict. E) disintermediation.

E) disintermediation

Pharmaceutical companies sell some of their products to hospitals and clinics directly. They also market other products to large retail chains such as Walgreens that distribute them to their stores across the nation. In addition, they sell products to drug wholesalers that sell to independent drugstores in the United States. What method of distribution best describes the method used by pharmaceutical companies in this example? A) horizontal distribution B) exclusive distribution C) vertical distribution D) direct distribution E) dual distribution

E) dual distribution

In the strategic marketing process, the __________ is the result of the planning phase that proceeds to the implementation phase where it is carried out. A) mission statement B) marketing strategy C) market-product synergy matrix D) product protocol E) marketing plan

E) marketing plan

A huge non-enclosed shopping strip with multiple anchor (or national) stores is referred to as a A) central business district. B) regional shopping center. C) community shopping center. D) strip mall. E) power center.

E) power center

Diversification refers to the marketing strategy of A) selling new products to current markets. B) selling the same brands in both current and new markets. C) selling current products to new markets. D) increasing sales of current products in current markets. E) selling new products to new markets.

E) selling new products to new markets

Charmed, a boutique jewelry store, has an annual fixed cost of $100,000. Each necklace at Charmed has a unit variable cost of $50. During the year, Charmed sells 1,000 necklaces. The manager wants to earn a return on investment of 15% on her $75,000 investment into the company. What is the target ROI price for a necklace? A) $161.25 B) $111.30 C) $175.05 D) $65.00 E) $225.00

A) $161.25

Rick and Morty are in the business of producing and selling time machines. Their total fixed costs are $1.3 million, and they have a variable cost of $120 per unit. They invested $4.0 million into their business and have a target ROI of 20%. Rick and Morty believe they can sell 1,100 time machines. What should the price of each time machine be? A) $2,029.09 B) $1,909.20 C) $5,938.18 D) $987.64 E) $4,818.29

A) $2,029.09

The Krusty Krab has an annual fixed cost of $150,000. Each Krabby Patty sold at the Krusty Krab has a variable cost of $3. During the year SpongeBob and Squidward, the managers of the Krusty Krab, sell 36,000 Krabby Patties. The Krusty Krab is trying to earn a return on investment of 15% on its $50,000 investment into the establishment. What should be the target ROI price for the Krabby Patty? A. $7.38 B. $8.56 C. $4.38 D. $5.56 E. $3.83

A) $7.38

Suzanne, a successful author of romance novels, recently released her seventh book. As part of her efforts to attract readers. Suzanne has a website on which customers can explore her books, write reviews about her books, discuss them with one another, and read about her life. This website can be characterized as: A) A promotional website B) An informational website C) Bot D) A transactional website E) Search engine

A) A promotional website

Formerly referred to as the Vice President of Marketing, this senior executive is now most often known as the: A. Chief Marketing Officer (CMO) B. Category Manager C. Brand Champion D. Chief Executive Officer (CEO) E. Brand Manager

A) Chief Marketing Officer (CMO)

Francesca is looking to buy some summer outfits. She decides to go to Zorro (a very popular retail store). She finds a lot of cute outfits and patiently waits in line to buy them. Zorro is a franchisor based in Spain has many franchisees around the USA, as well as other countries. This is a _________ channel. A) Contractual B) Backward Vertically Integrated C) Crossfunctional D) Logistical E) Forward Vertically Integrated

A) Contractual

Which of the following statements regarding supply chain customer service is most accurate? A) Customer service must be balanced against total logistics cost factors. B) The output of a supply chain is measured in total units sold. C) Customer service is the responsibility of marketing channel members and not the supplier network. D) A firm's goal should be to provide superior customer service regardless of costs. E) The output of a supply chain is measured in total number of customers served.

A) Customer service must be balanced against total logistics cost factors.

Sadie's Shoes is a shoe company that wants to sell their shoes in the United Kingdom. The CEO and CMO of the company disagree about whether they should set up a plant in the U.K. or simply ship the shoes over. Which of the following global market entry strategies are they debating? A) Direct investment and exporting B) Exporting and licensing C) Exporting and joint venture D) Licensing and exporting E) Direct investment and licensing

A) Direct investment and exporting

CoverGirl cosmetics are typically sold in stores like Target and Walmart. However, imagine that CoverGirl's parent company, Procter & Gamble, decides to stop selling CoverGirl through retail outlets. Procter & Gamble will instead only sell CoverGirl direct to consumers via Procter & Gamble's own website. This change would be an example of: A. Disintermediation B. Multichannel marketing C. A contractual vertical marketing system D. Intensive distribution E. Horizontal channel conflict

A) Disintermediation

James recently went to Sam's Club to stock up on dorm room snacks. He was on a mission to find enough Cheez-Its to last him the rest of the semester. Sam's Club offered a case of 12 boxes of Cheez-Its for $18.00. James thought that was a great deal, because one 16 oz. box at Publix would have cost him $6. James was able to pay a lower unit price at Sam's because he was willing to perform which function(s) that retailers usually perform? I. Holding Inventory II. Providing Services III. Breaking Bulk IV. Providing Assortments A) I and III only B) I and IV only C) II and IV only D) I only E) III only

A) I and III only

Puppy's Paradise is a manufacturer of dog treats and toys. They have become so successful that they have decided to market their products overseas. They have decided that, since their company is doing so well in the U.S., they will market the same way in the foreign markets. This is an example of what type of marketing approach? A) International marketing B) Explorative marketing C) Multinational marketing D) Global marketing E) Expanding marketing

A) International marketing

In which of the following areas does e-commerce have a distinct advantage over "brick-and-mortar" retailing? A. Number of alternatives available B. Social shopping experience C. Ability to "touch and feel" merchandise D. Bandwidth E. Security of transactions

A) Number of alternatives available

The makeup and skincare company, All-Natural, focuses on selling 100% organic products. The company is conducting a situation analysis to see what areas they could improve on and how they compare to similar companies. All-Natural notices that there has been an increase in the demand for organic fragrances such as perfumes and colognes. This demand represents a(an)_____________ for All-Natural. A) Opportunity B) Threat C) Constraint D) Strength E) Weakness

A) Opportunity

The smart phone industry's sales over that past three years have been $800 million, $900 million, and $1 billion, respectively. The following are the sales figures for the top brands in the market: Samsung $230 million Apple $210 million HTC $150 million Windows $90 million What is Apple's position in the BCG matrix? A) Question mark B) Dog C) Cash cow D) Star E) Can't tell from information given

A) Question mark

Trendy Threads is a clothing brand for teenage girls. Currently, Trendy Threads' items are sold in a few department stores in most shopping malls across the US. However, Trendy is not sold in stores such as Target and Walmart. What degree of channel coverage does Trendy Threads use? A) selective B) direct C) indirect D) intensive E) exclusive

A) Selective

The Gator Inn (which has 200 rooms) expects a large crowd for the UF/FSU game, which usually brings in enough visitors to reach 90% occupancy. With total fixed costs of $9,876 and a unit variable cost of $5, what price should the Gator Inn charge for one night in order to break even? Round your answer to two decimal places. A) $59.87 B) $54.38 C) $49.38 D) $54.87 E) $63.40

A) $59.87

Julio is working for a company in the clothing industry. His company arranges sales of clothes from various clothing manufacturers to different retailers. His company charges a fixed percentage of every sale made, but does not actually purchase or own any of the clothes. Which of the following best describes the role of Julio's company? A) agent B) distributor C) jobber D) sales branch E) sales office

A) Agent

Which of the following statements about the factors that influence demand is true? A) As real consumer income increases, the demand for a product increases. B) As the price of close substitutes increases, the demand for a product declines. C) As real consumer income decreases, the demand for a product increases. D) As the availability of close substitutes increases, the demand for a product increases. E) Changing consumer tastes have little impact on the demand for a product.

A) As real consumer income increases, the demand for a product increases.

In the context of the supply chain, time, dependability, communication, and convenience are all important concepts in: A) customer service B) supplier service C) retailer service D) stakeholder service E) wholesaler service

A) Customer Service

Apple fans have created an independent website called TheCore.com where users of iMacs, iPhones, iPads, Apple Watch, etc. can interact with each other about the products they own, their favorite features, and anticipated new releases. This website illustrates which use of the Internet? A. Virtual community B. Brand building C. C2C e-commerce D. Selling merchandise E. Facilitating sales

A) Virtual community

Viktor's Vitamins manufactures potent once-a-day multi-vitamins. Since the start of the coronavirus pandemic, they have become very popular in the United States. He wants to market these vitamins to other countries to increase profits. Since his sales are flourishing in the United States, he has decided to continue manufacturing here in the U.S. and market the vitamins the same way he does in the U.S. in various foreign markets. This is an example of what type(s) of marketing approach? I. Licensing II. Exporting III. International marketing IV. Multinational marketing V. Direct Investment A) II and III only B) I, III, and V only C) I and V only D) II, IV, and V only E) III and V only

A) II and III only

Coastland Footwear has several locations across the state of Florida. However, finances are getting rough and they are trying to decide which of these three locations will need to close. Coastland's executives will close the store with the lowest Net Sales per Square Foot. Here is some information on the three stores: ------- St. Pete | Miami | Jacksonville Sq. Ft: | 8K | 12K | 15K Total Sales: | $2.4M | $3.65M | $4.4M Returns: | $40K | $152K | $120K Based on the information in the table, which store will have to close, and what is its Net Sales per Square Foot? A) Jacksonville; $285.33 B) Miami; $291.50 C) Jacksonville; $293.33 D) St. Petersburg; $300.00 E) Miami; $304.17

A) Jacksonville, $285.33

Daniela works in Procter & Gamble's Supply Network Operations department. Here, she manages all of the transportation of the Tide Pods product, including its movement from supplier to manufacturing facility to distribution center to retailer. Daniela is performing the _____ in the distribution channel. A. Logistical Function B. Transactional Function C. Pipeline Function D. Facilitating Function E. Supply Chain Function

A) Logistical Function

Kodak fell victim to _____ when they defined themselves as being in the film photography business. Although it was successful for many years, Kodak ultimately declined because of its resistance to digital photography. A. Marketing Myopia B. Lack of Market Share C. Entry Barriers D. Mass Customization E. Failure to understand Corporate Mission

A) Marketing Myopia

Jimmy Johns wants to expand to foreign markets, but knows that in order to succeed internationally, they will have to adjust their business model to fit the needs of new countries. Jimmy Johns decides to look at each country as a segment and adjust their menu to these segments. For example, in France they will offer brie and apple sandwiches, in Germany they will offer sandwiches with bratwurst, etc. This is an example of which type of marketing? A) Multinational Marketing B) International Marketing C) Transnational Marketing D) Global Marketing E) Cross-cultural Marketing

A) Multinational Marketing

Best Pets of the West has been a prominent pet store in California for over 30 years. Yet, businesses noticed that Southern California is a great place to open pet shops, so they began to open up throughout the area. Best Pets of the West decided to lower their prices to a point that the other pet shops could not compete since they were too small. As a result, Best Pets of the West drove these other shops out of business. This illegal practice is an example of A) Predatory Pricing B) Competitive Shakeout C) Bait and Switch D) Price Collusion E) Nonprice Competition

A) Predatory Pricing

A local Target conducts an evaluation of their marketing plan and learns that Gator apparel yielded 40% more profit than Gator collectibles and 95% more profit than Seminole products. These finding are the result of which of the following? A) Profitability Analysis B) Sales Component Analysis C) Contingency Analysis D) Sales Analysis E) Marketing Audit

A) Profitability Analysis

Jessica loves being a PetSmart cardholder. As part of their PetPerks reward program she gets advance notice of upcoming sales, free samples for her dogs, and exclusive invitations for dog training classes by PetSmart's expert trainers. This is an example of a retailer adding value through: A) Providing Services B) Providing Assortment C) Atmospherics D) Breaking Bulk E) Holding Inventory

A) Providing services

Kamila wants to purchase a new camera. She goes to Best Buy to take a look at different models. After she finds the camera she wants, she leaves Best Buy and logs onto Amazon to buy the camera at a lower price. What term is used to describe Kamila looking at the camera in-store, but purchasing it online? A) Showrooming B) Window Shopping C) Brick and Mortar D) Retail Shrinkage E) Reverse Retailing

A) Showrooming

Decades ago, Carlos' dad Nick was the owner of Perfect Thread, a clothing manufacturer that ships to various stores around the world. Nick often had a hard time communicating with stores in foreign countries and, due to slow order and delivery times, the stores were often out of stock. Now Carlos owns Perfect Thread and his experience is much different. He communicates rapidly using email to all the stores he partners with and he receives "real-time" inventory depletion data from each store via Electronic Data Interchange. Which of the following has contributed to the change in how Perfect Thread operates from Nick's time to Carlos' time? A. Shrinking Globe B. Foreign Competition decreasing C. Joint Ventures becoming more popular D. Glocalization increasing E. Balance of Trade deficit decreasing

A) Shrinking Globe

Publix wants to determine which of two cookie brands has the higher stockturn rate. On January 1st, 2020, Publix held $45,000 of inventory on Tate's Cookies and $60,000 on Oreo. On December 31st, 2020, Publix held $47,000 of inventory on Tate's Cookies and $58,000 on Oreo. The cost of goods sold for the two over the year was $660,000 for Tate's Cookies and $800,000 for Oreo. Which brand had the higher stockturn rate in 2020 and what was it? Round to the nearest tenth. A) Tate's Cookies, 14.3 B) Tate's Cookies, 7.2 C) Oreo, 13.6 D) Oreo, 5.6 E) Tate's Cookies, 14.7

A) Tate's Cookies: 14.3

Lululemon Athletica wants to determine if its store in the Memphis area is using its retail space effectively in comparison to its top competitors. They decide to analyze this comparison by using the net sales per square foot metric. The table below represents the total sales, returns, and square footage of each store. Store Lulu Nike UA Colombia Total Sales $5.1M $6.5M $4.5M $2.65M Returns $90K $100K $140K $35K SqFt 7,500 10,000 6,500 4,000 Which of the above stores is utilizing its space most effectively and what is its net sales per square foot? A) Under Armour; $670.77 B) Lululemon Athletica; $668.00 C) Nike; $650.00 D) Lululemon Athletica; $680.00 E) Colombia Sportswear; $671.25

A) Under Armour; $670.77

Mom365.net is a website that allows moms to connect, share ideas, ask questions, and learn about motherhood. The site strives to unite women so they can give each other advice and help each other through motherhood. By selling advertising space, the site also provides moms with deals and discounts for their babies and themselves. Mom365 is an example of a: A) Virtual community B) Promotional community C) Online family D) Transactional website E) Promotional website

A) Virtual community

The organization that was formed by the major industrialized nations to address issues in international trade has the acronym _____. This organization sets rules governing trade between its members and resolves disputes between members. A. WTO B. NAFTA C. APAC D. GATT E. ITO

A) WTO

Franchising is one form of A) a contractual vertical marketing system. B) a corporate vertical marketing system. C) a horizontal marketing system. D) a wholesaler-sponsored voluntary system. E) an administered vertical marketing system.

A) a contractual vertical marketing system

Business portfolio analysis refers to A) a technique that managers use to quantify performance measures and growth targets to analyze their firm's strategic business units as though they were a collection of separate investments. B) a tool that seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D-manufacturing efficiencies. C) a technique that managers use to graphically track their firm's strategic business units as though they were a single expense in order to identify cost-cutting measures. D) a tool that helps a firm search for growth opportunities from among current and new markets as well as current and new products. E) an analysis that uses percentage points of market share as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm.

A) a technique that managers use to quantify performance measures and growth targets to analyze their firm;s strategic business units as though they were a collection of separate investments.

The practice of exchanging products and services for other products and services rather than for money is known as: A. barter B. exchange C. administered pricing D. value swapping E. quid pro quo

A) barter

Sports Port, a motorcycle and fishing boat retailer located in a small northern Minnesota town, was the world's largest dealer for Crestliner fishing boats. To meet the demand of his many customers, the owner of Sports Port works with a wide variety of channel members, ranging from the manufacturer of the boats to trucking firms, other retailers, and even detailers (firms that clean, polish, and wax boats). Such a diverse channel of distribution often resulted in channel conflict. However, due to his strong consumer following, the owner of Sports Port had the power to resolve disputes between channel members. The owner of Sports Port serves as the __________ in the channel of distribution. A) channel captain B) producer C) channel arbitrator D) channel spokesperson E) wholesaler

A) channel captain

Hard Candy is a cosmetics company that markets the Palm Palette—all the makeup a "girl-on-the-go" needs without a cumbersome makeup bag. It comes in three shades—glam, funky, and girly. Hard Candy specifically targets women who are 20-somethings. Which one of the generic business strategies is Hard Candy using? A) differentiation focus B) cost focus C) differentiation D) cost leadership E) profit enhancement

A) differentiation focus

Pharmaceutical companies sell some of their products to hospitals and clinics directly. They also market other products to large retail chains such as Walgreens. In addition, they sell products to drug wholesalers that sell to independent drugstores in the United States. What method of distribution is being used by pharmaceutical companies? A) dual distribution B) vertical distribution C) horizontal distribution D) direct distribution E) exclusive distribution

A) dual distribution

Pharmaceutical companies sell some of their products to hospitals and clinics directly. They also market products to large retail chains like Walgreens that distribute them to their stores across the nation. They also sell to drug wholesalers that sell to the remaining independent drugstores in the U.S. What method of distribution best describes that used by pharmaceutical companies in this example? A) dual distribution B) vertical distribution C) horizonal distribution D) direct distribution E) exclusive distribution

A) dual distribution

The practice of replacing promotional allowances with lower manufacturer list prices is referred to as A) everyday low pricing. B) trade-in allowances. C) everyday fair pricing. D) markdown pricing. E) everyday value pricing.

A) everyday low pricing

Which of the following is a cost-oriented approach to pricing? A) experience curve pricing B) skimming pricing C) loss-leader pricing D) prestige pricing E) bundle pricing

A) experience curve pricing

People in the marketing department traditionally operate at what organizational level? A) functional level B) top management level C) strategic business unit level D) corporate level E) stakeholder level

A) functional level

There are three general forms of retail ownership: contractual system, corporate chain, and A) independent retailer. B) multinational cartel. C) dual ownership. D) retailing cooperative. E) industry consortium.

A) independent retailer

Your neighborhood dry cleaner or florist is likely to be categorized as an independent retailer. This means it is owned by a(n): A) individual. B) cooperative. C) conglomerate. D) consortium. E) corporate chain

A) individual

If the CEO of the Clorox Co. were to say, "We want to control 60 percent of the bleach market within the next five years," he would have set a __________ objective. A) market share B) unit volume C) sales D) profit E) social responsibility

A) market share

Setting prices a few dollars or cents under an even number is referred to as A) odd-even pricing. B) prestige pricing. C) price lining. D) above-, at-, or below-market pricing. E) every day fair pricing.

A) odd-even pricing

Scrambled merchandising refers to: A) offering several unrelated product lines in a single store. B) displaying merchandise throughout a store rather than keeping all similar items together in rows on a shelf or point-of-purchase displays. C) offering several related product lines in multiple stores. D) offering several related product lines in a single store. E) changing the position in which items are displayed in a store to create customer interest in a variety of product lines.

A) offering several unrealted product lines in a single store

Jenn goes to a new sporting goods store that just opened up called "Rick's Sporting Goods" because she needs to buy a new foam roller. When she gets there, she sees an elaborate stage set. After buying her foam roller, Rick Astley jumps out and invites Jenn to dance and sing "Never Gonna Give You Up" on stage with him. What sort of retail strategy is Rick's Sporting Goods pursuing? A) retailtainment B) omni-channel retailing C) recreational shopping D) multi-channel retailing E) showrooming

A) retailtainment

In terms of the online customer experience, customization refers to: A) the ability of a website to modify itself to, or be modified by, each individual user. B) a website's aesthetic appeal and functional look and feel, reflected in site layout and visual design. C) the website's ability to conduct sales transactions for products and services. D) the consumer-initiated practice of generating content on a marketer's website that is custom-tailored to an individual's specific needs and preferences. E) an interactive, Internet-enabled system that allows individual customers to design their own products and services

A) the ability of a website to modify itself to, or be modified by, each individual user.

Barter refers to A) the practice of exchanging products and services for other products and services rather than for money. B) a tying agreement stipulating that if company "A" purchases a product from company "B," it must also purchase one of its services. C) the practice of exchanging products and services for money. D) a reciprocity agreement stipulating that if company "A" purchases services from company "B," then company "B" must purchase similar services from company "A." E) the practice of exchanging services for products of equal or greater value.

A) the practice of exchanging products and services for other products and services rather than for money.

Uniform delivered pricing refers to: A) the price the seller quotes that includes all transportation costs. B) the price the seller quotes that excludes all transportation costs. C) the price the seller quotes that includes a fixed allowance whereby the buyer pays all additional costs. D) the price the seller quotes includes a fixed percentage of transportation costs for which it will be responsible. E) the guarantee that a retailer will be charged the same transportation fee for all its outlets regardless of where they are located.

A) the price the seller quotes that includes all transportation costs.

Max, a manufacturer of purebred pet rocks, is trying to determine how much to charge his distributor. Max knows his distributor has a markup of 10% and the retail stores that sell the pet rocks use a markup of 40%. The retail price for his purebred pet rocks is $1,000. What price should Max charge the distributor? A. $500 B. $540 C. $545 D. $650 E. $649

B) $540

Dough Delivery is a frozen pizza wholesaler who sells to numerous pizza parlors in Gainesville. Dough Delivery sells their frozen pizzas for $5 each. If Rafael's Pizza (a local pizza retailer) sells its pizza at a markup of 32%, what price does Rafael's charge per pizza (rounded to the nearest cent)? A. $15.63 B. $7.35 C. $6.60 D. $8.40 E. $5.32

B) $7.35

An 8-pack of Powerade is priced at $6.00. Gatorade wants to use a "parity" pricing strategy. Using the critical strategic-pricing ratio, what is the parity price for Gatorade? All ratings shown below are on a 1-10 scale. ------ Gatorade | Powerade | Importance Muscle Recovery: 9 | 7 | 7 Taste: 10 | 5 | 9 Nutritional Value: 6 | 8 | 8 Bottle Shape: 8 | 6 | 4 A. $4.68 B. $7.68 C. $7.62 D. $6.00 E. $4.74

B) $7.68

Which of the following would NOT be an output metric, as defined in the textbook? A. A measure of revenue growth B. A measure of research and development spending C. A measure of return on investment D. A measure of customer satisfaction E. A measure of the number of products launched

B) A measure of research and development spending

Coca-Cola wants to increase its market share in the soft drink market, which is growing by 2% a year. Total industry sales this past year were $319,000,000. Below are the sales for the main soft drink companies. Brand | Sales Coca-Cola | $95,000,000 Pepsi | $81,000,000 Dr. Pepper | $45,000,000 All Others | $98,000,000 In the BCG Matrix, Coca-Cola is a _________, with a relative market share of: A) Dog, 30% B) Cash Cow, 1.17 C) Star, 1.17 D) Cash Cow, 30% E) Dog, .97

B) Cash Cow, 1.17

Nicole is a loyal customer of TJ Maxx, and the employees all know her because she's constantly shopping there. One of the employees, Camila, notices that Nicole doesn't have a Visa card to pay for her items. She tells Nicole that TJ Maxx offers a credit card to its customers that can be used only at TJ Maxx. Which channel function does the TJ Maxx credit card serve? A) Transactional Function B) Facilitating Function C) Logistical Function D) Audit Function E) Revenue Functions

B) Facilitating Function

Nordstrom Local is a new type of retailer in which customers can view samples of a wide range of clothing, have clothes altered, meet with a personal stylist, and even sip beer, wine or juice while shopping. Any clothes the customer likes can be ordered for same-day delivery to the store. Which retail functions are being emphasized by Nordstrom Local? I. Providing Assortments II. Breaking Bulk III. Holding Inventory IV. Providing Services A) I and II B) I and IV C) II, III, and IV D) I, II, and III E) II and III

B) I and IV

If you visit a McDonald's in another country, it will not be the same McDonald's that you know in the United States. McDonald's develops their menu in each country based on the tastes and interests of that country. In Egypt, you will find the McArabia, a flatbread sandwich, and in France, you will find macaroons on the menu. What type of global marketing approach is used by McDonalds in its menu development? A) International marketing B) Multinational marketing C) Global marketing D) Transnational marketing E) Subnational marketing

B) Multinational Marketing

Publix is opening a new "mini" Publix on 13th Street, right across from the UF campus. This store will offer the essential products that students need, but in smaller sizes so that students can easily stop in after class for groceries or personal products. This store's goal is to facilitate grocery shopping for those students who may not have a car or alternative transportation. Which of the following utilities created by the distribution channel will this new Publix exhibit the MOST? A. Possession Utility only B. Place Utility only C. Convenience Utility only D. Form Utility and Place Utility only E. Time Utility and Form Utility only

B) Place Utility only

It's the end of the quarter, and Dove is evaluating their performance as a result of their marketing efforts. They look at their sales and determine that 45% of their sales consists of body washes, 25% consists of shampoos, 15% consists of hand sanitizers, 10% consists of soap bars, and 5% consists of deodorants. What is Dove using to evaluate their performance? A) Identify deviations from plan B) Sales component analysis C) Profitability analysis D) Market share analysis E) The marketing audit

B) Sales component analysis

Mark works for a large company that has headquarters in France. Mark, along with other company employees, works with many individuals from partner organizations all over the world, including the United States and Japan. Technologies such as Zoom make it easier for Mark and his coworkers to complete their work. What is the factor that facilitates this intercontinental coordination? A) Balance of trade surplus B) Shrinking globe C) Foreign competition D) Protectionism E) Balance of trade deficit

B) Shrinking globe

Athletica, Lululemon's biggest competitor, sells mostly workout and yoga gear. The prices are generally high in their small stores, but they pride themselves on quality service. Employees always suggest to customers which style of tights or workout tops would work best. Athletica is an example of which type of retailer? A. Mini-mall B. Specialty Store C. Power Retailer D. Discount Store E. Department Store

B) Specialty Store

MOD Pizza is a customizable pizza company located throughout the United States. The company's goal is to make simple food for complex times. MOD Pizza is successful compared to other pizza companies because of their unlimited customization and strong relatable culture. In a S.W.O.T. analysis, MOD Pizza's unlimited customization is a(n)________. A) Threat B) Strength C) Opportunity D) Opportunity and Strength E) Weakness

B) Strength

Urban Outfitters wants to see if the productivity of their store location in South Beach has improved from last year. They use Net Sales per Square Foot to determine whether or not it has improved. Last year's sales and returns and this year's sales and returns are listed below. Have the net sales per square foot improved and by how much? 2015 Total Sales: $350,000 Returns: $50,000 Sq. Ft: 600 2016 Total Sales: $500,000 Returns: $120,000 Sq. Ft: 600 A. Yes, by about $250.33/square foot B. Yes, by about $133.33/square foot C. Yes, by about $633.33/square foot D. No, it decreased by $133.33/square foot E. No, it decreased by $633.33/square foot

B) Yes, by about $133.33/square foot

In June 2016 Stuart launched his new gardening service firm, which specializes in the maintenance of delicate flowers. Stuart's marketing plan projected sales of $40,000 by the end of August. Unfortunately, Stuart lives in Colorado where it quite unexpectedly snowed heavily in June and July. Flowers are not yet blooming. Stuart is losing a lot of money due to high fixed costs, but he is confused about what to do to address the situation. We can conclude from this sad scenario that Stuart's marketing plan did not include: A. a SWOT analysis B. a contingency plan C. measurable objectives D. specific tactics E. a budget

B) a contingency plan

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native speakers. A) semantic analysis B) back translation C) semiotics D) cultural symbolism E) linguistic exchange

B) back translation

An interactive, Internet-enabled system that allows individual customers to design their own products by answering a few questions and choosing from a menu of product or service attributes, prices, and delivery options, is referred to as a __________. A. wiki B. choiceboard C. cookie D. bot E. collaborative filter

B) choiceboard

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as A) points of similarity. B) competencies. C) points of difference. D) core values. E) entry barriers

B) compentencies

Netflix is a company that delivers DVD movies and TV shows to consumers either by mail or streaming over the Internet. It faces many competitors, but continues to grow both in the United States and abroad. Part of what has driven Netflix's success in recent years is its original content, with movies and shows like Bird Box and Stranger Things, popular programming that cannot be seen elsewhere. Its original content provides Netflix's: A) viable mission. B) competitive advantage. C) tactical innovation. D) core benefit. E) sales orientation.

B) competitive advantage

The price of one country's currency expressed in terms of another country's currency is referred to as the: A) balance of payments. B) currency exchange rate. C) transfer payment. D) money conversion factor. E) balance of price.

B) currency exchange rate

Hard Candy is a cosmetics company that markets the Palm Palette—all the makeup a "girl-on-the-go" needs without a cumbersome makeup bag. It comes in three shades—glam, funky, and girlies. Hard Candy targets women who are 20-somethings. Which one of Porter's generic business strategies is Hard Candy most likely using? A) differentiation B) differentiation focus C) profit enhancement D) cost leadership E) cost focus

B) differentiation focus

John Deere manufactures and distributes industrial and farm equipment. This type of equipment is considered to be a specialty product. Which type of market coverage does John Deere most likely use? A) intensive distribution B) exclusive distribution C) extensive distribution D) selective distribution E) appointment-only distribution

B) exclusive distribution

American tech companies that use business models based on scale have found China to be an attractive market. Groupon was concerned about their understanding of local culture and laws, and decided to partner with Chinese tech company Tencent to form online deal marketplace Gaopeng, which later failed. Airbnb instead decided to open a separate Chinese home-sharingstart-up, Aibiying, which is fully controlled by the Chinese branch of Airbnb in Beijing. Groupon's market entry strategy is best characterized as __________ , while Airbnb is using a(n) _________ strategy. A) licensing; direct investment B) joint venture; direct investment C) exporting; joint venture D) direct investment; exporting E) joint venture; licensing

B) joint venture; direct investment

Using _________, many retailers deliberately sell products below their normal prices (and sometimes below cost) to attract attention and induce additional store traffic. A) penetration pricing B) loss-leader pricing C) below-market pricing D) prestige pricing E) customary pricing

B) loss-leader pricing

Loving Care Pets manufactures food for dogs, cats, rabbits, and gerbils under three months of age. Assuming it is marketing to a single segment of "young-pet owners," in terms of the market-product grid framework, Loving Care Pets is using a ________ strategy. A) market-product concentration B) market specialization C) full coverage D) product specialization E) selective specialization

B) market specialization

Management experts warn against the tendency to excessively analyze a problem instead of taking action. This problem is referred to as A) second-guessing. B) paralysis by analysis. C) better to ask for forgiveness than permission. D) cover your derriere. E) where angels fear to tread.

B) paralysis by analysis

Large strip malls that often have two to five anchor stores, a supermarket, and are designed to bring in shoppers on a weekly basis, are referred to as A. retail malls. B. power centers. C. suburban malls. D. warehouse malls. E. strip centers.

B) power centers.

All activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use are referred to as A) manufacturing. B) retailing. C) wholesaling. D) facilitating. E) logistics.

B) retailing

Last month, the Samsung marketing team broke down the company's sales by product and region to diagnose any potential problems in their marketing. Samsung's marketing team used what process? A) Sales analysis B) sales component analysis C) Growth-Share analysis D) profitability analysis E) opportunity-cost analysis

B) sales component analysis

When using a price lining strategy, a marketer will: A) set the price slightly higher than necessary to protect against losses resulting from adverse environmental forces. B) set the price of a line of products at a number of different specific pricing points. C) set a market price for a product or product class based on a subjective feel for the competitors' price or market price as the benchmark. D) set a low initial price on a new product to appeal immediately to the mass market. E) adjust the price of a product so it is "in line" with the price of its largest competitor.

B) set the price of a line of products at a number of different specific pricing points.

Julia is a very sporty girl; she regularly goes to the gym. She loves wearing cool and comfy gym clothes, so she starts searching for brands. After researching, Julia ends up wanting to buy Lululemon leggings. She is trying to decide whether to order the pants from Lululemon's webpage or go to the Lululemon store in the mall. Lululemon's webpage is a (n) ______ channel, while the Lululemon store (which is owned by Lululemon) is a (n) _______ channel. A) Transactional, Retail B) Indirect, Indirect C) Direct, Direct D) Indirect, Direct E) Direct, Indirect

C) Direct, Direct

Keep Movin' Co. sells surfboards and skateboards to their customers. In the last month, employees at Keep Movin' Co. have noticed that a few skateboards are missing from the shop. They don't want this to keep happening so they've installed a microchip into each item that tracks when it is purchased and automatically sends the information to their computer system. Which concept is Keep Movin' Co. using to monitor their product inventory? A) Just-In-Time (JIT) B) Warehouse and Material Handling C) Electronic Data Interchange (EDI) D) Transportation E) Vendor-Managed Inventory

C) Electronic Data Interchange (EDI)

Hair Force One, a military themed hair salon, has done very well in the past year. They would like to know exactly how well. In order to evaluate this, they are computing same-store sales growth. Based on the table below, what is the same-store growth for Hair Force One between June 2014 and June 2015? June 2014 June 2015 Total # of Stores 36 48 # of New Stores 2 12 Net Sales (all stores) $3.4M $6.9M Net Sales (new stores) $470K $2.1M A) 6.2% B) 141.1% C) 41.2% D) 61.8% E) 102.9%

C) 41.2%

Central Ice Machine Co. is located in Omaha, Nebraska, and sells Frick, Sullair, York, and Fes Fuller ammonia refrigeration parts. The company ships these parts using FOB origin pricing.Which of the following statements about the shipment of a Frick reciprocating compressor is most accurate? A) All buyers will pay the same shipping costs, regardless of the destination. B) Central Ice Machine will pay all shipping costs. C) A buyer in Albany, New York, will pay significantly more shipping charges than a buyer in Lincoln, Nebraska. D) It will cost Central Ice Machine more to ship to Charlotte, North Carolina, than to Topeka, Kansas. E) Central Ice Machine splits the shipping costs with its customers regardless of where the compressor is shipped.

C) A buyer in Albany, New York will pay significantly more shipping charges than a buyer in Lincoln, Nebraska.

Chris has worked at Publix for five years and is responsible for the frozen foods section. He has the responsibility for selecting all the products, which brands Publix will carry, how much they will order, and their prices. His goal is to maximize the sales and profits coming from frozen foods. This approach to merchandise assortments is called: A. Distribution management B. The retail life cycle approach C. Category management D. Vendor-managed inventory E. Shopper marketing

C) Category management

Monica has decided to launch her own coffee shop to compete with Central Perk, with the help of her friends Rachel and Phoebe. She has spent months planning the marketing of her new business and has even established a course of action, known as a ________, if sales do not meet her expectations. A) Balanced scorecard assessment B) Marketing audit C) Contingency plan D) Sales component analysis E) Revenue analysis

C) Contingency plan

Emile is the owner of a custom rim sales and manufacturing shop. He has developed his plans for the year and decided he must sell 6 sets of rims per month. Upon evaluation, he understands he has only been selling 5 sets of rims the last two months. However, during his initial planning process, he also decided to implement an aggressive marketing campaign if he fell below the 6 sets per month threshold at any time in consecutive months to boost sales and stay on course with the original plan. What part of the control phase of the strategic marketing process is represented by his instituting the aggressive marketing campaign? A) profitability analysis B) the marketing audit C) corrective action D) measuring results E) developing timetables

C) Corrective Action

The application of modern measurement technologies to understand, quantify, and optimize marketing spending is referred to as: A) the marketing audit. B) marketing dashboards. C) marketing ROI (return on investment). D) situation analysis. E) strategic marketing analysis

C) marketing ROI (return on investment)

Lululemon was founded as a manufacturer of yoga gear. However, Lululemon preferred to have complete control over all aspects of their distribution channel, in order to ensure that consumers receive the highest-quality products. Lululemon began shipping in their own trucks and operates its own retail stores. Lululemon used which strategy? A) Backward vertical integration B) Horizontal Integration C) Forward vertical integration D) Manufacturer sales branches E) Power retailing

C) Forward vertical integration

In Europe, stores called __________ are based on the concept of one-stop shopping for consumers. Such retail stores, which use scrambled merchandising, typically encompass over 200,000 square feet of floor space and offer quality, variety, and low price for food and groceries and general merchandise. A) megamarkets B) euromarkets C) hypermarkets D) supercenters E) one-stop markets

C) Hypermarkets

Lindsay is looking to expand her cosmetics brand to countries outside of the United States. Her brand includes product lines of makeup, nail, and hair products. When looking at which countries to expand to, she takes into account the countries' current use of cosmetics (since some countries tend to utilize cosmetics more than others), the median disposable income of the countries (to ensure people could afford her products), and each country's degree of access to the internet (since she has recently launched an app and does a lot of business online). Which of the following aspects of cross-country analysis did Lindsay consider? I. Economic II. Demographic III. Social/Cultural IV.Natural V. Technological A) I, II, III, and V only B) II and III only C) I, III, and V only D) I, IV, and V only E) I, II, and IV only

C) I, III, and V only

The Four Seasons chain of luxury hotels has recently been working hard to bring their traditional direct marketing efforts into the digital age. They now provide podcasts and interactive exhibits that help customers plan activities during their stays. They also maintain a database of customers' specific needs and desires which can be used both to market vacation opportunities and to provide superior service to their guests. Their use of digital technologies to improve their direct marketing is best considered an example of... A) collaborative filtering B) electronic data interchange C) interactive marketing D) choiceboards E) one-to-one marketing

C) Interactive Marketing

Adam is trying to find a very specific action figure for his little brother's birthday. He winds up on what seems like a reliable site for vintage action figures and finds exactly what he's looking for. The site also promises 2-day delivery for free, which makes Adam very happy. However, several weeks go by and he still hasn't received anything, even though money has already been taken out of his account. When he tries to email the company, his email bounces back as undeliverable. What has Adam most likely fallen prey to? A) Pseudo search B) Imposter Bot C) Pharming D) Evil Twin E) Spear Phishing

C) Pharming

Ryan is really into professional sports. He decides to open a sporting goods store that sells jerseys, apparel, and memorabilia from the NFL, NBA, MLB, and NHL. Throughout the store there are certain attractions/experiences customers can participate in such as a baseball pitching cage that measures the speed of a customer's pitch and an NFL field goal kicking simulator. Ryan hopes that these attractions will engage customers and encourage them to spend more time in his store. What retailing practice is Ryan using? A) Recreational Shopping B) Omnichannel Retailing C) Retailtainment D) The Kahn Retailing Success Matrix E) Category Management

C) Retailtainment

Which of the following is an important step in effectively implementing multichannel marketing? A) Minimize the number of channels to avoid cannibalizing sales from stores. B) Immediately appoint a channel captain to avoid channel conflict. C) Start by documenting cross-channel consumer behavior with a customer journey map. D) Establish subbrands for catalog retailers and direct selling channels. E) Create a website that will engage visitors with interactive experiences that involve games,contests, and quizzes

C) Start by documenting cross-channel consumer behavior with a customer journey map.

Dillard's has decided to allow MAC Cosmetics to operate its own mini-store in the makeup department. While other brands are only allotted a small space for their makeup counter, Dillard's allows MAC to have a large section decorated similarly to MAC stores. Within Dillard's, MAC operates independently by ordering its own products, setting up displays, and managing its own staff. MAC is responsible for generating a profit and paying Dillard's a percentage. This is an example of: A) Just-in-time inventory B) Independent inventory C) Vendor-managed inventory D) Vertical integration E) Horizontal integration

C) Vendor-managed inventory

Strategic channel alliance refers to A) an arrangement whereby a firm reaches different buyers by employing two or more different types of channels for the same basic product. B) a practice whereby consumers can interact with various advertising media to buy products without a face-to-face meeting with a salesperson. C) a practice whereby one firm's marketing channel is used to sell another firm's products. D) the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online. E) an arrangement whereby companies reduce distribution costs by sharing facilities, equipment, and transportation

C) a practice whereby one firm's marketing channel is used to sell another firm's products.

Compared to marketing strategies, marketing tactics generally involve actions that A. have been successfully implemented in the past. B. involve upper levels of management rather than front-line managers. C. are detailed day-to-day operational decisions. D. are general rather than specific in nature. E. are long-term rather than short-term.

C) are detailed day-to-day operational decisions.

Store layout, colors, lighting, and music are all considered part of a store's retail: A) emotive appeal. B) sensory management plan. C) atmosphere. D) measurable attributes. E) antecedent attributes.

C) atmosphere

The Foreign Corrupt Practices Act A) makes the theft of trade secrets by foreign entities a federal crime in the United States. B) is a unilateral agreement the United States made with several developing nations. C) makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country. D) regulates only the behavior of U.S. businesses conducting business within the United States. E) has different levels of punishment based upon the wealth of the host nation.

C) makes it a crime for U.S. corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country.

The task of assigning the proportional credit to each channel and consumer touchpoint across all online and offline channels for a desired consumer action (such as a purchase) is extremely complex. The practice and techniques used to credit or value a particular channel and consumer touchpoint is referred to as: A) channel valuation. B) service appropriation. C) marketing attribution. D) multichannel accreditation. E) touchpoint compensation.

C) marketing attribution

The retail positioning matrix is an analytical tool that A) identifies the best location for building or leasing a retail store. B) identifies the most likely target market for a retail outlet based upon its size. C) positions retail outlets in terms of the breadth of product line and value added. D) identifies the specific customer base served by all stores within a given radius. E) identifies the elements of the retailing mix.

C) positions retail outlets in terms of the breadth of product line and value added

A dynamic pricing policy refers to: A) deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well. B) setting the prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item. C) setting different prices for products and services in real time in response to supply and demand conditions. D) setting the price of a line of products at a number of different specific pricing points. E) adding a fixed percentage to the cost of all items in a specific product class.

C) setting different prices for products and services in real time in response to supply and demand conditions.

According to the text, the term "value pricing" refers to: A) the ratio of perceived benefits to price. B) the money or other considerations exchanged for the ownership or use of a product or service. C) the practice of simultaneously increasing product and service benefits while maintaining or decreasing price. D) the ratio of price to perceived benefits. E) the list price minus incentives and allowances plus extra fees.

C) the practice of simultaneously increasing product and service benefits while maintaining or decreasing price.

Currency exchange rate refers to: A) the ratio of a nation's basic unit of currency relative to the price of gold. B) the unit equivalency of all international currency. C) the price of one country's currency expressed in terms of another country's currency. D) the unit of wealth (gold, oil, diamonds, etc.) upon which a nation bases its national currency. E) the ratio of a nation's basic unit of currency relative to the price of silver.

C) the price of one country's currency expressed in terms of another country's currency.

Long-range marketing plans cover marketing activities A) 5 to 10 years into the future. B) from one quarter to the next. C) two to five years into the future. D) for a single year. E) from six months to one year.

C) two to five years into the future.

ADT Security Systems has been working on improving their products and is focused on increasing their market share in the home security industry. In order to get their name around they've reached out to an external organization whose task is to sell the ADT products to customers (this external firm does not take physical possession of the ADT products). What type of channel member is the outside firm? A) Manufacturer's Sales Branch B) Distributor C) Jobber D) Agent E) Manufacturer's Sales Office

D) Agent

Which of the following is an example of the transactional function in the BiC Corporation's channel of distribution? A) Performing market research to determine which BiC pens are selling best B) Transporting BiC products from the manufacturer to the wholesaler C) Organizing the financing for BiC customers D) An external sales force selling BiC pens to retailers such as Staples E) Determining the assortment of office supplies that BiC will produce and sell

D) An external sales force selling BiC pens to retailers such as Staples

Nicole is meeting her classmates at Starbucks to work on their final marketing project. She arrives an hour before everyone else and decides to catch up on some lectures she missed from her class that week. She connects to the Starbucks Wi-Fi and watches a lecture, but within the next few hours her computer system is down and her account information has been hacked. Nicole was victimized by: A) Pharming B) Phishing C) Bandwidth D) Evil Twin E) Disintermediation

D) Evil Twin

Sally's Soda is a company that owns various soda brands including Coocoo-Cola, Spirit, and Diet Croak. Coocoo-Cola and Spirit are succeeding in the market, but Diet Croak is struggling. Sally's Soda decides to continue with Diet Croak's distribution where demand exists, but will not invest in marketing the product. Which type of strategy is Sally's Soda using for Diet Croak? A) maintain B) diversify C) grow D) harvest E) divest

D) Harvest

Lululemon is known for its high-quality products and great customer service. It is currently facing a severely competitive U.S. market and is being targeted by Nike, Gap, and Fabletics. However, Lululemon has recently recognized the growth potential in emerging markets in Asia. Which of the following SWOT analysis component(s) has/have been mentioned in the analysis? i. Strengths ii. Weaknesses iii. Opportunities iv. Threats A) I & IV only B) II, III, & IV only C) II & III only D) I, III & IV only E) I, II, and III only

D) I, III & IV only

Hilton Hotels & Resorts would like to increase their share of the luxury hotel market in New York. The table below represents some data about the market. Hilton Hotels & Resorts Total Sales $16,000,000 Hilton Hotels & Resorts Gross Margin $5,000,000 Total Industry Sales $64,000,000 Total Industry Marketing Effort $15,000,000 Hilton Hotels & Resorts want to expand their market share by 3 points. Is it worth it for Hilton Hotels & Resorts to pursue this? What is the expected profit or loss if they invest to pursue the market share gain? A) Yes; profit of $1,575,000 B) Yes; profit of $150,000 C) Yes; profit of $75,000 D) No; loss of $75,000 E) No; loss of $375,000

D) No; loss of $75,000

Hydropax is a backpack company that was started by UF students. It features an insulated pouch to keep beverages warm or cold. When they first launched Hydropax, they released a number of different discount codes so that the actual purchase price would be lower. Once sales began to pick up, they retired the discounts and began charging full price for the backpack. Which of the following demand-based pricing strategies did Hydropax use? A) Chain markup B) Dynamic pricing C) Demand-minus D) Penetration E) Skimming

D) Penetration

A Patek Philippe Sky Moon Tourbillion men's wristwatch is among the most expensive in the world, costing more than $1.5 million in 2013. This is an example of a _______ strategy. A) penetration pricing B) target pricing C) loss-leader pricing D) prestige pricing E) bundle pricing

D) Prestige Pricing

What is the assumed shape of the graph of the sales response function? A) U-shaped B) a straight, upward-sloping line, starting in the lower left and extending to the upper right ofthe graph C) W-shaped D) S-shaped E) a straight, downward-sloping line, starting in the upper left and extending to the lower right of the graph

D) S-shaped

Alex was speaking to his friend Robby about how the world is more interconnected than ever before. Robby believes that this is not true, but Alex explains to him that the world is functionally smaller and that people on the other side of the world are much closer to us than they were in the past. Alex points at an Apple store and tells Robby that in the past we didn't have smartphones, but now we can easily communicate with others from different countries through messaging apps such as WhatsApp. Alex is speaking about the idea of: A) Foreign competition B) Balance of Trade Surplus C) Balance of Trade Deficit D) Shrinking globe E) E-commerce

D) Shrinking globe

Attire is an online store that focuses on selling trendy clothing for men, women and children. They try to make shopping very enjoyable for their consumers as they promote their clothing with engaging videos. Attire can be described as a(n) _____________. A) Brick and Mortar retailer B) Information Source C) Virtual Community D) Transactional Website E) Promotional Website

D) Transactional Website

Tidy Clean makes washers and dryers. They manufacture them in Dayton, Ohio, and then ship them to retailers all across the country. The price that Tidy Clean quotes to the retailers includes all transportation costs, and Tidy Clean handles all of the shipping. All of the retailers pay the same price to Tidy Clean, regardless of whether the retailers are near (Toledo, Ohio) or far (San Jose, California). What is this type of pricing called? A. FOB Origin pricing B. Uniform delivered multiple-zone pricing C. Customary pricing D. Uniform delivered single-zone pricing E. Basing-point pricing

D) Uniform delivered single-zone pricing

Hydroflask sells water bottles in a variety of sizes and colors. The marketing team at Hydroflask is looking for new strategies that will allow the company to capture an even larger share of the water bottle market. In order to most effectively grow their market share, which strategy should they use, based on the research discussed in class? A) Hold a flash sale, reducing their prices for a day B) Increase the length of warranty on all of their products C) Increase their advertising budget D) Utilize campus brand ambassadors, in order to expand their sales force E) Develop a new line of products directed specifically towards hikers

D) Utilize campus brand ambassadors, in order to expand their sales force.

Kraft Foods is the exclusive distributor of Starbucks coffee in U.S. supermarkets and internationally. Kraft and Starbucks are using: A) a direct marketing channel B) a cooperative distribution channel C) multichannel distribution D) a strategic channel alliance E) a dual distribution agreement

D) a strategic channel alliance

Nike is a recognized innovator in the use of __________ for creating interactivity, individuality, and customer relationships. Its NikeID product configurator invites customers to create one-of-a-kind shoes, messenger bags, and backpacks by simply answering a few questions and viewing the finished product from numerous angles. A) cookies B) collaborative filtering C) wikis D) choice boards E) bot

D) choice boards

Netflix is a company that rents DVD movies by mail and by streaming movies over the Internet. It jumped into an industry where there were many competitors, both local and national. Initially, it established a loyal clientele by providing a service that no one else offered—reliable and fast shipment. Its delivery system created Netflix's A. tactical innovation. B. point of parity. C. viable mission. D. competitive advantage. E. sales orientation

D) competitive advantage

Extending credit to customers is an example of a __________ function. A) buying B) logistical C) risk-taking D) facilitating E) transactional

D) facilitating

According to the BCG Growth-Share Matrix, which of the following describes the "success sequence" life cycle of a product? A) question mark → dog B) star → cash cow → dog C) question mark → star → cash cow → dog D) question mark → star → cash cow E) cash cow → dog

D) question mark → star → cash cow

Italy currently has a limit on the number of motorcycles that can be imported from Japan. This restriction would be considered a(n) A) trade imbalance. B) subsidy. C) tariff. D) quota. E) excise tax.

D) quota

When a consumer pays a fee to have products and services delivered on a recurring schedule, it is called: A) cross-channel shopping. B) marketspace delivery. C) Facebook-driven shopping. D) subscription commerce. E) sociodigital buying.

D) subscription commerce

Interactive marketing refers to A) the consumer-initiated practice of generating content on a marketer's website that is custom-tailored to an individual's specific needs and preferences. B) the two-way buyer-seller electronic communication in a computer-mediated environment in which the seller controls the kind and amount of information received from the buyer. C) the interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes, prices, and delivery options. D) the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller. E) an Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings.

D) the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amout of information received from the seller.

Francesca's French Fry Factory has an annual fixed cost of $30,000. Each order of fries has a variable cost of $0.25. During the 2020 fiscal year, 55,000 orders of fries were sold. Francesca's French Fry Factory aims to make a $80,000 profit. What should they have charged per order of fries using the Target Profit Pricing model? A) $1.70 B) $3.00 C) $1.75 D) $2.00 E) $2.25

E) $2.25

The Orange corporation has been struggling compared to its competitors. Orange is comparing two stores, one in Gainesville and another in Tampa, using net sales per square foot. Orange will close the store with the lower net sales per square foot. Gainesville has sales of $500,000, returns of $20,000, and a size of 1,000 square feet. Tampa has sales of $650,000, returns of $100,000 and a size of 2,000 square feet. What is the net sales per square foot of the weaker store and which city is it in? A) $500/ sq. ft. Gainesville B) $50/ sq. ft. Tampa C) $325/ sq. ft. Tampa D) $480/ sq. ft. Gainesville E) $275/ sq. ft. Tampa

E) $275/ sq. ft. Tampa

Elenore and Jason own competing frozen yogurt shops in their neighborhood. Shown below is how both Elenore and Jason's shops measure up on various frozen yogurt attributes and the importance of each of these attributes. If a cup of frozen yogurt at Elenore's shop costs $4.50, what parity price should Jason charge to remain competitive? Attribute Elenore Jason Importance Flavor Var. 9 7 6 Texture 6 8 8 Coldness 7 5 4 A) $3.52 B) $4.64 C) $4.54 D) $4.40 E) $4.36

E) $4.36

Hair Force One, a military themed hair salon, has done well in this past year. They would like to know exactly how well. In order to evaluate this, they are computing same-store sales growth. Based on the table below, what is the same-store sales growth for Hair Force One between June 2014 and June 2015? -------------June 2014 | June 2015 Total Number of Stores: 20 | 30 Number of New Stores: 6 | 10 Net sales (all stores): $3.4M | $5M Net Sales (new stores): $400K | $1.5M A. 44.1% B. 30.0% C. 91.2% D. 47.1% E. 2.9%

E) 2.9%

Every Day We Lit, a trendy candle store, is thriving around the country and would like to assess their same store sales growth. Based on the data in the table below, what is the same-store sales growth for Every Day We Lit between October 2019 and October 2020? ------------October 2019 | October 2020 Total Number of Stores: 105 | 130 Total Net Sales of Chain: $15M | $26M Number of New Stores: 10 | 25 Net Sales of New Stores: $2M | $8M A) 73.3% B) 53.3% C) 30.8% D) 120.0% E) 20.0%

E) 20.0%

Life Fitness, a manufacturer of fitness and exercise equipment, wants to design and bring to market an innovative stair exerciser which incorporates virtual reality technology. As their customers climb the steps, they will experience different visualizations such as climbing mountains or ascending towards the sky on a stairway to Heaven. To plan for this introduction, Life Fitness has identified several necessary tasks that need to be completed before the new stair machines can be distributed, including tasks such as prototyping the stair machine, performing market testing, and designing an ad campaign. Life Fitness summarized these tasks, their dependencies, and the number of months they estimated they would need to complete each in the following PERT chart: B --------10--------> G 4/ \7 A ---6---> D ---5--->F I 5\ 3/ \5 /2 C -----4-----> E H They are currently at Task A and need to complete Task I to bring the stair machine to market. Based on the chart, how long is the critical path, and which link should they shorten to bring the product to market faster? A) 20 months; AD B) 21 months; CE C) 18 months; FH D) 19 months; BG E) 21 months; AB

E) 21 months; AB

Tesla is developing a new and long-lasting battery for their Model S cars. Elon Musk decides to create the PERT chart below to plan and supervise the launch. He identifies different tasks and the amount of time required for each task to have a successful launch. The numeral on each link represents the number of months required to complete the task. How fast can Tesla launch the batteries (in months)? A) ABGH = 15 B) ABDGH = 23 C) ABDFH = 25 D) ACDGH = 26 E) ACDFH = 28 F) ACFH = 17

E) 28

Bob's Burgers is interested in finding the stockturn rate for their custom printed "Bob's Burgers" baseball caps for last year (2017). Their COGS was $230,000, their beginning inventory was $12,000 and ending inventory was $4,000. What was the stockturn rate for baseball caps in 2017 (rounded to the nearest whole number)? A) 14 turns per year B) 35 turns per year C) 19 turns per year D) 58 turns per year E) 29 turns per year

E) 29 turns per year

Supply chain managers balance total logistics cost factors against customer service factors. Which of the following is not a customer service factor? A) convenience. B) time. C) dependability. D) communication. E) assurance

E) Assurance

Jace sees a Best Buy advertisement featuring a Canon camera for a low price of $39.99. Jace goes to the nearest Best Buy, but the item is not in stock. Instead, a salesperson tries to convince Jace to buy the $300 Professional Canon camera instead. Which type of deceptive pricing practice was Jace the victim of? A. Former price comparisons B. Bargains conditional on other purchases C. Comparisons with suggested prices D. Comparable value comparison E. Bait and switch

E) Bait and switch

The former state of California has seceded from the United States and formed an independent country led by their President, Kim Kardashian. In the past year, the country has exported goods with a value of 13,250,000 Dash Dollars (their new form of currency) and imported goods with a value of 21,000,000 Dash Dollars. Based on this information, California is experiencing a: A) Balance of trade surplus of 7,750,000 Dash Dollars B) Balance of trade deficit of 21,000,000 Dash Dollars C) Balance of trade surplus of 13,250,000 Dash Dollars D) Balance of trace equilibrium E) Balance of trade deficit of 7,750,000 Dash Dollars

E) Balance of trade deficit of 7,750,000 Dash Dollars

Palatka, Florida, is known for having many family-owned business in its small town. The Cheesecake Factory has decided that it wants to add a location in Palatka. Because the town wants to preserve its small local businesses, the town council is reluctant to accept a large chain restaurant. Which macro level factor in site selection did The Cheesecake Factory fail to consider? A) Economic Climate B) Cannibalization C) Demographic/Psychographic Profile D) Competition E) Business Climate

E) Business Climate

Below are sales revenue data for Gainesville sushi restaurants. Total Industry sales for the past three years were $230 million in 2013, $250 million in 2014, and $260 million in 2015. Brand 2015 | Sales Dragonfly | $81,000,000 Sushi Chao | $52,000,000 Bento | $35,000,000 All Others | $92,000,000 In the BCG Matrix, Dragonfly is a _____, with a relative market share of A. Star: 1.56 B. Cash Cow: .31 C. Dog: .64 D. Question Mark: .88 E. Cash Cow: 1.56

E) Cash Cow: 1.56

Casey owns a major wholesale supplier and is trying to decide which product he should emphasize. He wants to identify the product that will have the greatest wholesale price based on the retail price of the product and the percentage (retailer) markup on the product. Based on the information listed below, which product should Casey emphasize and what should that product's wholesale price be? Product Retail Price Retail Markup Detergent $5.63 40% Dryer sheets $4.33 21% Tissues $2.89 33% TP $3.94 45% A) Laundry Detergent, $3.38 B) Toilet Paper, $3.57 C) Laundry detergent, $3.42 D) Tissue Boxes, $1.94 E) Dryer Sheets, $3.42

E) Dryer Sheets, $3.42

Goodyear, a tire manufacturer, reaches buyers in several ways. They sell their tires to automakers, so that their tires are on the new cars that consumers purchase. They also sell their tires to retailers, so that consumers who need tires can buy Goodyear tires from a retailer. This strategy (using two or more channels for the same basic product) is known as: A. An administered system B. Having a channel captain C. A vertical marketing system D. Exclusive distribution E. Dual distribution

E) Dual distribution

Sephora is using a new form of logistics management that ties their stores' checkout data directly to their suppliers and manufacturers. If an item is running low in an individual store's inventory, Sephora's computer system will automatically reorder more of it. This is an example of: A) Vendor-Managed Inventory B) Materials Handling C) Cross-Docking D) Breaking Bulk E) Electronic Data Interchange

E) Electronic Data Interchange

The popular computer game, The Sims, uses its website to post information about its new virtual products for sale on the site, sell its games, and bring players together on a discussion board to share stories and advice with one another. In what ways is sims.com making use of the internet? I. Auction II. Reverse auction III. Virtual communities IV. Brand Building V. Sell Merchandise A) I, III, IV, and V only B) II and III only C) I, II and IV only D) II, IV, III and V only E) III, IV and V only

E) III, IV and V only

Refinery 29 is one of Annie's favorite websites, where she gets ideas on makeup, cosmetics, and skincare. She has recently taken an interest in contouring, which enhances the facial structure through makeup. Refinery 29 has a whole section on contouring. Annie is utilizing Refinery 29 as what? A. Place to buy merchandise B. Virtual community C. Brand augmentation D. Place to sell merchandise E. Information source

E) Information source

Hubba Bubba is looking to launch a new breath mint. It decides to place the new mint in as many gas stations and convenience stores across the United States as it can. What degree of channel coverage is Hubba Bubba using? A) Selective B) Selective C) Internal D) Exclusive E) Intensive

E) Intensive

Carly was at the library doing her Marketing Learn Smart assignment. She didn't realize she had skipped dinner until her stomach began to make a weird noise around 8pm. Unsure of what to get to eat and short on time, Carly went to the Starbucks near the main entrance. She had $7 with her, which she thought would be just enough to buy a sandwich. Once she got up to the register and the associate scanned the sandwich, the screen read $12.99. Carly was astonished at how expensive the food was. In this situation, what was the $7 price Carly anticipated? A) Predatory price B) Bait & Switch price C) External Reference price D) Sticker Shock price E) Internal Reference price

E) Internal Reference price

One of the consumer benefits of online shopping is that consumers often do not pay sales tax on online purchases. However, a recent US Supreme Court ruling has altered this benefit in which of the following ways? A) It allowed states to tax internet sales greater than $1000 in value. B) It required states to open brick-and-mortar stores in states where they wanted to sell. C) It permitted states to charge a special "evil tax" only on purchases made on Amazon.com. D) It forbade sales tax on all internet sales. E) It allowed states to collect sales tax from companies that have no "physical presence" in the state.

E) It allowed states to collect sales tax from companies that have no "physical presence" in the state.

ColourPop, a U.S.-based cosmetics company, has developed a new line of lipsticks called the Besitos. ColourPop decides to enter into a contract with a Colombian beauty company. Instead of manufacturing and shipping the lipsticks to Colombia, ColourPop has agreed to allow the Colombian company to use its brand name and manufacturing process in exchange for royalty payments. The Colombian firm will finance all the production, distribution, and marketing in Colombia. What global marketing strategy is ColourPop using? A) Direct Investment B) Joint Venture C) Exporting D) Globalization E) Licensing

E) Licensing

In the 90's, CDs were the easiest way to listen to recorded music. During this time, Sony released a portable CD player called the Walkman. The Walkman was the first of its kind and Sony became the leader in portable music devices. In the 2000's when Apple released its slim and lightweight digital iPods, Sony continued to produce the Walkman with no change in their design. Sony suffered from which shortcoming? A) Majority fallacy B) Tunnel vision C) Lack of a corporate mission D) Low brand equity E) Marketing myopia

E) Marketing myopia

Hannah Montana is working on her annual marketing budget for her music sales. She decides to promote her music to a new target market: women ages 60-65.In order to do this, she decides that she has to distribute her music in additional stores as well as run advertisements during television programming that the age group tends to watch. As she considers each of her new marketing efforts, she records their costs into a spreadsheet. Finally, Hannah adds up all of the costs to create her marketing budget for the year. What method of budgeting is Hannah Montana using to create her marketing budget? A) Affordable B) Optimization C) Percentage of Sales D) Competitive Parity E) Objective & Task

E) Objective & Task

Recently, it has come to Victoria's Secret's attention that an imposter website exists that looks identical to their website, purporting to sell the same merchandise. This website is fraudulent and was created to steal customers' credit card information. What does this imposter website represent? A. Evil Twin B. A Shop-Bot C. Click Fraud D. Phishing E. Pharming

E) Pharming

Food manufacturer General Mills is comparing two alternative marketing programs for the coming year. Program A involves releasing a new breakfast cereal for adults, "Coffee-Os. Each Crunch Packs a Punch!" Program B involves releasing a new beer for people trying to quit smoking: "Nichelob: Half the calories, twice the Nicotine." General Mills wants to select whichever program will maximize their overall profit. Both programs involve $200,000 in total fixed costs and$1 unit variable costs, and are expected to sell 300,000 units. Program A (Coffee-Os) requires a$400,000 investment and promises a 50% ROI and Program B (Nichelob) requires a $600,000 investment and promises to return a 25% ROI. Which program should general Mills move forward with, and what unit price should they set for that product? A) Program A (Coffee-Os); $2.17 B) Program B (Nichelob); $2.17 C) Program A (Coffee-Os); $3.00 D) Program B (Nichelob); $3.00 E) Program A (Coffee-Os); $2.33

E) Program A (Coffee-Os); $2.33

A new computer and smart phone technology company, called Orange, has released a product called the oPhone. Sales of the oPhone are taking sales away from Apple's iPhone. At the same time, Apple is in the middle of trying to cope with a shortage of new products; their R&D department is struggling to come up with new and exciting products. In Apple's SWOT Analysis, Orange is a(n) _____, and Apple's new product shortage is a(n): ______ A. Weakness, Opportunity B. Weakness, Threat C. Opportunity, Weakness D. Threat, Threat E. Threat, Weakness

E) Threat; Weakness

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and then sold through unauthorized retailers below the manufacturer's suggested retail price is referred to as A) parallel exporting. B) the black market. C) dumping. D) a globalized market. E) a gray market

E) a gray market

While shopping at Publix, Julia saw that a pound of high-quality Colombian coffee had a label on it that claimed the usual price of the bag was $20 but it was currently on sale for $15. Julia decided to buy a bag of the coffee since she felt that she was getting a good deal. The coffee label illustrates... A) non-price competition B) price unbundling C) an internal reference price D) skimming pricing E) an external reference price

E) an external reference price

A Tokyo shopkeeper would have been wise to use ________ to verify the accuracy of the new sign in English he purchased for his dry cleaning business. The sign read, "Drop your pants here for best results," which he did not know had another suggestive meaning to native English speakers. A) cultural symbolism B) dialect transformation C) semantic analysis D) linguistic exchange E) back translation

E) back translation

Those in staff positions have the authority and responsibility to advise people in line positions A) and serve on the board of directors. B) and can recommend salary and benefit adjustments for them. C) and must clear all such communication with the human resources department. D) but cannot serve on team projects with them. E) but cannot issue direct orders to them.

E) but cannot issue direct orders to them.

Amazon.com uses ________ to compare each user's purchases with the purchases of other users with similar preferences to create a list of purchase recommendations. Based on a customer's desire to purchase an author's e-book for her Kindle, Amazon might recommend an e-book by a similar author within the same genre. A) choiceboards B) personalization C) real-time e-commerce D) interactive marketing E) collaborative filtering

E) collaborative filtering

Recently, the United States imposed a 35 percent tariff on Chinese tire imports in the hopes of sustaining U.S. jobs in tire manufacturing. This addition of tariffs is an example of: A) imposing the rule of eminent domain. B) enhancing domestic imperialism. C) increasing ethnocentrism. D) slowing countertrade. E) increasing protectionism.

E) increasing protectionism

KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes. This is an example of which type of global marketing product and promotion strategy? A) product integration B) product extension C) product invention D) product customization E) product adaptation

E) product adaptation

If a firm finds the demand for one of its products is inelastic, it can increase its total revenues by A) lowering its price. B) increasing fixed costs only. C) increasing variable costs only. D) increasing both fixed and variable costs. E) raising its price.

E) raising its price.

Diversification refers to the marketing strategy of: A) selling current products to new markets. B) increasing sales of current products in current markets. C) selling the same brands in both current and new markets. D) selling new products to current markets. E) selling new products to new markets.

E) selling new products to new markets.

Marketing ROI (return on investment) refers to A. the allocation of funds based upon the minimum expenditure possible to create the maximum results in terms of total sales. B. the allocation of funds based on a percentage of the total marketing budget determined by assessing the anticipated revenue return for a given marketing action. C. the application of modern measurement technologies to understand, quantify, and optimize R&D costs. D. the application of modern measurement technologies to understand, quantify, and optimize production expenses. E. the application of modern measurement technologies to understand, quantify, and optimize marketing spending.

E) the application of modern measurement technologies to understand, quantify, and optimize marketing spending.

A marketing dashboard is A) a "report card" prepared by the marketing department regarding its performance in terms of environmental and social responsibility. B) the display of information found on a car's dashboard. C) an "app" that uses a car navigation device metaphorically to indicate the specific direction in which a company wishes to grow based on its annual marketing plan. D) information about an organization's marketing metrics presented orally so marketers can quickly spot deviations from plans and take corrective actions. E) the visual computer display of the essential information related to achieving a marketing objective.

E) the visual computer display of the essential information related to achieving a marketing objective.

The description of how new forms of retail outlets enter the market is referred to as the A) retail life cycle. B) product life cycle. C) retail life matrix. D) retail continuum. E) wheel of retailing.

E) wheel of retailing