marketing exam
Which of the following is a full-service merchant wholesaler?
General merchandise wholesaler
Which of the following is not a common feature of a warehouse club?
Good customer service
who drafted the consumer bill of rights
John F. Kennedy
Hannah is a retail salesperson for Crate and Barrel in Chicago. She is most likely classified as
an inside salesperson
The three major types of reference groups are
aspirational, dissociative, and membership
An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?
awareness
During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers.
inexperienced
When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle.
maturity
When encoding the message, the source should use signs that have
meanings that the target market will understand
Freight transportation companies that offer several different shipment methods are called
megacarriers
An organization's business goals should be derived from its
mission statement
Customer costs include anything the buyer must give up in order to obtain the benefits the product provides. The most obvious customer cost is
monetary price
Price is considered to be the variable in the marketing mix that is
most flexible
When a business is making its initial purchase of an item to be used to perform a new job, it is known as a ____ purchase.
new task
People's needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs.
self-actualization
The fact that technology acts as a catalyst to spur even faster development is referred to as
self-sustaining
Beacons are useful to retailers of all sizes because they
send real-time messages and offers to customers.
The three major categories of influences on the consumer buying decision process are
situational influences, social influences, and psychological influences.
during the maturity stage
some competitors are forced out.
All of the following are types of limited-service merchant wholesalers except
specialty-line wholesalers.
Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are
stars
The overall role of promotion is to ________________and to build and enhance relationships with current and potential customers.
stimulate product demand
Retailing is best characterized as
transactions in which the buyer intends to consume the product through personal, family, or household use.
while marketing ethics creates ________ , philanthropic activities create_________.
trust; goodwill
marketing activities are
used by all sizes of organizations including for-profit, nonprofit, and government agencies.
What do all of the following have in common: tuition, fee, premium, retainer, dues?
They are different terms for the concept of price.
When a product tries to capitalize on the brand equity of two separate brands, marketers are using
co-branding
________ are formalized rules and standards that describe what a company expects of its employees in terms of ethical behavior.
codes of conduct
________________ promote ethical behavior by reducing opportunities for unethical behavior; employees know what is expected of them and what kind of punishment follows if rules are violated.
codes of conduct
A common form of tactile communication in U.S. business activities is
handshaking
The two main reasons for criticism of promotional activities are that promotion
has some flaws, and it pervades our daily lives.
Because of a service's ____, standardization and quality are difficult to control.
heterogeneity
_______ that are either accepted or rejected become the primary conclusions of a marketing research study
hypothesis
A(n) ____ is a concept, philosophy, or image.
idea
The first step in the target market selection process is
identifying an appropriate marketing strategy
A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory management technique is called
just-in-time (JIT)
The psychographic variable that includes numerous characteristics related to people's activities, interests, and opinion is
lifestyle
Sherri McRae wants to establish a fashion wholesaling firm. Because of the risks involved in the rapid obsolescence of high-fashion items, Sherri does not want to establish an organization in which she has title to the garments. Which of the following types of wholesale establishments has she ruled out?
merchant wholesaler
Most business purchases can be classified as belonging to one of three types:
modified rebuy, new task, or straight rebuy.
Del Monte markets ketchup for household use to supermarkets through grocery wholesalers. It markets ketchup for institutional use through industrial distributors and food brokers. Del Monte is using
multichannel distribution
Institutional markets are
organizations that seek nonbusiness goals.
As Brianna walks to classes, she selects, organizes, and interprets the sensations she is receiving through her sense organs. Brianna is experiencing the process of
perception
Consumerism is
the efforts of independent individuals, groups, and organizations to protect the rights of consumers
the major disadvantage of a mail survey versus a telephone or personal survey is
the failure of respondents to return the questionnaire
Price is a key element in the marketing mix because it relates directly to
the generation of total revenue
In a brand licensing arrangement, the licensee is responsible for
the manufacturing, marketing, and financing of the licensed product.
which of the following best describes the acceptance of the marketing concept by American organizations
the marketing concept has yet to be fully accepted by all organizations
The primary value that a marketer expects to receive from a customer in an exchange relationship is
the price charges for the product
In product modification, the first issue to consider is whether
the product is modifiable
A co-branded product from Sony and Martha Stewart would likely fail because
their products are not complementary
Which of the following statements is true about salespeople?
they are often knowledge experts of their firm
If Morton Salt saw all table salt customers as pretty much alike and thus offered only one marketing mix, it would be using the ___________ strategy.
undifferenciated
During the search for products and evaluating possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way.
value
The width of a product mix is measured by the number of product
lines a company offers
A ____ brand usually requires a producer to become involved in distribution, promotion, and pricing decisions.
manufacturer
The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders is called
marketing citizenship
Wet Seal, a retailer of swimwear, employs a commonly used cost-based pricing method called
markup pricing
Product specifications are best described as
physical characteristics and level of quality.
The forces of the marketing environment include
political, legal and regulatory, sociocultural, technological, economic, and competitive.
Procompetitive laws are those designed to
preserve competition
Buyers who focus on purchasing products that signify prominence and status are
prestige-sensitive buyers.
An evaluation performed before an advertising campaign begins is a
pretest
Pharmaceutical companies have at times been accused of acting unethically by taking advantage of customers in the area of
pricing
approximately what percent of civilian workers in the US performs marketing activities?
25 to 33 percent
Which of the following is not a business product?
Calculators bought to help individuals complete their personal federal income tax forms
_____________ identifies changes in public opinion affecting an organization.
Environmental monitoring
Which of the following statements about business buying is false?
Orders in business markets tend to be smaller than those placed in consumer markets.
____ is a broad set of communication efforts used to create and maintain favorable relationships between a company and its stakeholders.
Public relations
At what point does a firm maximize profit?
The point at which marginal cost equals marginal revenue
Which of the following countries was the world's first service economy?
United States
Which of the following are personal informal exchanges of communication that customers share with one another about products, brands, and companies?
Word-of-mouth communication
Kayla is the owner of a group of women's clothing stores located throughout the Midwestern United States. Recently, she made a large purchase from a leading clothing manufacturer, and was given ____, which is a gift to a retailer who purchases a specified quantity of merchandise.
a dealer loader
In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and
a modification should make the product more consistent with customers desires
A forecasting method that predicts sales based on relationships between past sales and other variables is called
a regression analysis
Redbox, ProActiv, and Clinique all sell their products through automatic vending, which is
a type of non store retailing
The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also
achieve the organizations goals
_____________ is a paid, nonpersonal communication about an organization and its products transmitted to a target audience through mass media.
advertising
_______ offers the potential benefits of cost efficiency, repetition, and adding product value, while _____ is one of its disadvantages.
advertising; slow feedback
There is some concern that marketing research has been used incorrectly by some firms. The major problem comes from ____ because the researcher wants to obtain favorable results.
bias and distortion
the definition of marketing implies that ______ should receive benefits from exchange relationships
both customers and marketers
The part of a brand that can be spoken including letters, numbers, and words is the
brand name
Private distributor, generic, and manufacturer are the three types of
brands
The owner of Big Bike Motorcycles is opening a new retail location. Which of the following is most likely to be a fixed cost for Big Bike Motorcycles?
building rent
"Is the demand strong enough?" is a question that marketers ask during the ____ phase of new-product development.
business analysis
Michael's, PetSmart, and Staples are all examples of
category killers.
A single leader who controls and organizes a marketing channel is called a
channel captain
When markets are comprised of people with differing product needs, the marketing manager should use a(n) ____ strategy.
concentrated or differentiated targeting
The ability of a product to provide the same level of quality over time is called
consistency
The product variable of the marketing mix can include all of the following except
consumer perception of the product price
Despite the fact that the FDA has mandated that they are safe, many people still distrust genetically-modified foods. Some are choosing to express their dissatisfaction by protesting and writing letters to their state governments. These letters demand that genetically-modified food be labeled so shoppers can make informed choices. These activities are an example of ___________.
consumerism
According to the consumer bill of rights, the right to be informed means that
consumers should have access to and the opportunity to review all relevant information about a product before buying it
the reputation and well-known brand name of Rolex watches represents a ______ for rolex
core competency
____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.
corporate
what are two common distribution-related ethical issues
counterfeiting and channel stuffing
Value=__________
customer benefits - customer costs
When are marketers least likely to change a product's design, style, or other attributes?
decline
If a store has areas for men's apparel, women's apparel, housewares, cosmetics, and jewelry and competes mostly on the basis of service, it is most likely a(n)
department store
Nordstrom, Macy's, and JCPenney are all considered
department stores
Research that is conducted to clarify the characteristics of certain phenomena to solve a particular problem is called ____ research.
descriptive
The members of a venture team come from
different functional areas of an organization.
Increasingly, inside salespersons manage ___________________ and outside salespersons are more _______________.
digital approaches to sales; relationship oriented
The last stage in the development of any advertising campaign is
evaluating the effectiveness of advertising.
Expensive, high-quality products that are purchased infrequently often reach consumers through
exclusive distribution
A run-out policy of product deletion
exploits any strengths left in the product
Which of the following industries is most likely to employ combative promotional efforts?
fast food
Distribution-related ethical issues arise when marketers
force channel intermediaries to behave in a specific manner.
A wholesaler that carries a wide product mix but offers only limited depth within product lines is called a
general merchandise wholesaler
A culture can be divided into subcultures according to
geographic regions or human characteristics, such as age or ethnic background
Initiatives intended to improve an organization's positive impact on society and the natural environment are called
green marketing
When a product experiences an increase in the number of competitors, it is usually in the _____ stage of the product life cycle; however, when that competition becomes intense, it is in the ____ stage.
growth; maturity
Packaging that is designed to flow through the distribution channel easily is called ____ packaging.
handling-improved
Personal trainers cannot complete their work without their clients present because of the ____ feature of services.
inseparability
Advertising that aims to create a more favorable view of a company as a whole in the eyes of various stakeholders is called ____ advertising.
institutional
The coordination of promotion and other marketing efforts for maximum informational and persuasive impact defines
integrated marketing communications
Within the information search step of the consumer buying decision process, what two primary aspects exist?
internal search and external search
Pioneer promotion is most likely to be used during the ____ stage of the product life cycle.
introduction
Your firm is a full-service, specialty-line wholesaler and you own display shelves and space in discount stores. Your firm is a
jack robber
Zack Freedman is an experienced salesperson who has worked for the same company for 20 years. When he is informed that he must attend a training seminar the following Tuesday, he believes it will most likely be about
new-product information.
The selling of merchandise outside the confines of actual facilities is generally called
non store retailing
Stores that are in a manufacturers' outlet mall, such as Ralph Lauren, Tommy Hilfiger, Clarks Shoes, and Samsonite Luggage are most appropriately classified as a(n)
off-price retailer
For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar?
one-half
After certain inputs have been selected to reach an individual's awareness, the next step in the perceptual process is perceptual
organization
Since most ethical choices pertaining to marketing decisions are jointly made, an organization must ensure its ____ reflects the organization's values, beliefs and norms.
organizational or corporate culture
The five major stages of the consumer buying decision process, in order, are
problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.
Which of the following is not a component of a marketing plan?
product
____ ethical issues generally surface when companies fail to disclose risks associated with a product or information regarding its function, value, or use.
product-related
As the Industrial Revolution came to the United States, most firms operated in a(n) ___________ orientation.
production
The most important function of packaging is
protecting the product and maintaining its functionality.
Monroe works for NASCAR where his responsibilities include maintaining favorable relationships between the organization and its stakeholders. Monroe is most likely employed in
public relations
What two modes of transportation are used when containers are shipped by piggyback?
railroads and trucks
Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic
recession
A Macy's manager designs the casual clothing department such that one of Macy's private label pairs of jeans, priced at $24.99, is positioned next to a national brand of jeans, such as Levis, priced at $39.99. What is the manager attempting to accomplish?
reference pricing strategy
Marketing ethics
refers to principles and standards that define acceptable conduct in marketing.
Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as
relationship marketing
Pointing out any deficiencies and the possible reasons for them should be done in the _______ step of the marketing research process.
reporting research findings
Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?
reseller
Walmart, Macy's, Nordstrom, and Toys 'R' Us are examples of
retailers
Olivia is the manager of Human Resources for Zappos.com. She is currently reviewing the sales force compensation method used at Zappos.com to determine if there is a better way to manage compensation. Olivia knows that the ____ method is easy to administer, yields more predictable selling expenses, and provides sales managers with a large degree of control over salespeople.
straight salary
which of the following is a probability sampling technique used ti reduce errors within random sampling?
stratified
Nick is a salesperson for DuPont. His college degree is in engineering, with a minor in physical science. Nick is most likely a(n)
technical salesperson
The process of putting one's thoughts (meaning) into signs (symbols) is called
the coding process
The cost per thousand (CPM) indicator shows
the cost to expose 1,000 people to a one-page magazine advertisement.
Reinforcement advertising is primarily targeted at
the current users of a particular product.
Sam's and Costco are examples of
warehouse clubs
In most service industries, customer-contact employees are
well trained but have high turnover rates
When we speak of the number of product lines that a company offers, we are referring to the ____________ of the company's product mix.
width
Chad has a good-paying job. However, even though he has not received any official confirmation, Chad suspects that his job might be cut in the near future. Rumors in the grapevine hint that the company is going to go through massive lay-offs due to declining revenues. As a result, Chad has decided to forgo buying a house until he has a better idea of his job status. He has a lot of savings, but Chad knows he might need them if he becomes unemployed. In this case, Chad lacks
willingness to buy
Which of the following is most likely to be a product stocked solely by an industrial distributor?
wind turbines
