MARKETING FINAL EXAM

​Based on the work by the Boston Consulting Group, products with a dominant share of the market and good prospects for growth are a. ​question marks. b. ​stars. c. ​cash cows. d. ​pigs. e. ​dogs.

b.stars

Sterling is a corn farmer. He sells his corn to stores such as Kroger. What type of competitive structure does Jerry most likely operate in? a. Monopolistic competition b. Pure competition c. Oligopoly d. Oligopolistic competition e. Monopoly

b. pure competition

When Conair adds an electrical component that automatically shuts off its curling irons when they have been left on for more than one hour, this improvement would best be classified as a(n) a. quality modification. b. market extension. c. product line extension. d. functional modification. e. aesthetic modification

d. functional modification

Which of the following would be used in setting the price of a new product if considerable competition is expected? a. Odd-number pricing b. Price skimming c. Reference pricing d. Penetration pricing e. Psychological pricing

d. penetration pricing

Hair stylists find it challenging to standardize their service because the customer must be involved in production (i.e., the haircut). This illustrates which of the following unique features of services? a. Homogeneity b. Perishability c. Inseparability d. Intangibility e. Heterogeneity

c. inseparability

When Hunter Ceiling Fans buys electrical wire for use in producing its ceiling fans, Hunter is part of what type of market for electrical wire? a. Business b. Consumer c. Resale d. Wholesale e. Customer

a. business

A major benefit of using event sponsorship is that it a. can provide large amounts of free media coverage. b. is cost-free. c. enhances personal selling efforts. d. provides excellent support for advertisements. e. neutralizes the effects of unfavorable public relations.

a. can provide large amounts of free media coverage

​Long-term relationships with profitable customers is the key objective of a. ​customer relationship management. b. ​personal selling. c. ​production oriented firms. d. ​e-marketing. e. distribution channels.

a. customer relationship management

When influencers fail to disclose a connection to a brand they promote, they may be charged with a. deceptive advertising. b. misappropriation of intellectual property. c. online fraud. d. extortion. e. identity theft

a. deceptive advertising

When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n) a. expert forecasting survey. b. random factor analysis. c. market test. d. Delphi technique. e. external judgment survey.

a. expert forecasting survey

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's a. ​market share b. ​market position c. ​target market d. ​market cut e. ​strategic segment

a. market share

When a theater entices customers to see movies during the daytime by offering tickets at a reduced price, it is trying to solve the services marketing problem of a. off-peak demand. b. customer contact. c. inseparability. d. intangibility. e. heterogeneity.

a. off-peak demand

The cost of ____ is usually substantially lower than the cost of ____. a. retaining existing customers; acquiring new customers b. identifying prospects; encouraging product trial c. stimulating primary demand; stimulating selective demand d. personal selling; public relations e. comparative advertising; new introductory promotion

a. retaining existing customers; acquiring new customers

Within a business organization, a profit center that is self-supporting in terms of sales, markets, production, and other resources is known as a​ a. ​strategic business unit. b. ​marketing program. c. ​small business. d. ​diversified corporation. e. ​profit entity.

a. strategic business unit

To attract customers into a store, Safeway advertises its milk at less than cost, hoping that customers will purchase other groceries as well. This pricing strategy is called a. price lining. b. price leader pricing. c. comparison discounting. d. special-event pricing. e. differential pricing.

b. price leader pricing

The objective of inventory management is to minimize inventory costs while a. facilitating electronic data interchange. b. eliminating safety stock. c. having only enough supplies on hand as needed for production or resale. d. maintaining an adequate supply of goods to satisfy customers. e. increasing stockouts.

d. maintaining an adequate supply of goods to satisfy customers

Kellogg's Rice Krispies, a ____ brand, is likely to be found next to Crispy Rice, a ____ brand that has very similar coloring and styling for its package. a. generic; store b. producer; house c. distributor; store d. manufacturer; private distributor e. dealer; private distributor

d. manufacturer; private distributer

​A marketing plan a. ​restricts the marketing manager's future options. b. ​produces plans that are short term in orientation. c. ​always increases the marketing manager's operating costs. d. ​is characteristic of production-oriented firms and other mass producers. e. ​provides a framework for implementing and controlling marketing activities.

e. provides framework for implementing and controlling marketing activities

Which of the following is the best example of disruptive innovation? a. Chevy Corvette b. iPhone c. Can opener d. Snickers candy bar e. Razor blade

e. razor blade

If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the a. Sherman Antitrust Act. b. Wheeler-Lea Act. c. Clayton Act. d. Robinson-Patman Act. e. Celler-Kefauver Act.

a. Sherman antitrust act

One of the most important benefits of e-marketing is the ability of marketers a. and customers to share information. b. and competitors to share information. c. and customers to obtain digital information. d. and government regulators to share information. e. and vendors to share resources.

a. and customers to share information

Aldi's and Dollar General stores have been expanding their footprint across the United States, opening new locations and competing against traditional discount and grocery store chains, such as Walmart, Target, Kmart, Kroger, Jewel Osco, and Schnucks. Both Aldi's and Dollar General hope to capture a large proportion of the dollars consumers spend on grocery and general merchandise items and have responded to consumer desires for value and convenience of a smaller store. What type of pricing objective are these stores utilizing? a. Market share b. Return on investment c. Survival d. Profit

a. market share

Pointing out any deficiencies and the possible reasons for them should be done in the ____ step of the marketing research process. a. reporting research findings b. interpreting research findings c. designing the research project d. defining the issue or problem e. collecting data

a. reporting research findings

After direct marketing, the next slightly longer marketing channel adds a(n) a. retailer. b. producer. c. consumer. d. agent. e. wholesaler.

a. retailer

If Best Western bundles its rooms with services such as free local phone calls, cable television, wireless Internet access, and complimentary breakfast, these services are known as ____ services. a. supplementary b. business c. complimentary d. bundled e. core

a. supplementary

Which of the following would be considered an institutional buyer? a. The United Way b. Apple Inc. c. City of Greenville d. The Environmental Protection Agency e. Walmart

a. the united way

What should marketers do to promote the consistency and reliability of their services most effectively? a. Train employees and develop standard procedures for dealing with customers b. Perform as much of the service as possible before the customer arrives c. Encourage employees to be creative in solving customer issues and complaints d. Require employees to be shining, happy people all day long e. Limit the number of employees in their organization

a. train employees and develop standard procedures for dealing with customers

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? a. Special-event pricing strategy b. Reference pricing strategy c. Everyday low prices strategy d. Odd-number pricing strategy e. Price skimming strategy

b. Reference pricing strategy

Which of the following personal selling success tips will you share with the new hires? a. Never try using a trial close. b. Be thorough in your preapproach by doing your homework on your prospects. c. Don't waste too much time on your sales presentation because it is not really important. d. Don't waste your time building a database of potential prospects. e. Start selling as soon as you meet the prospect for the first time.

b. be thorough in your preapproach by doing your homework on your prospects

McDonald's golden arches are a classic example of a a. brand symbol. b. brand mark. c. trademark. d. brand. e. brand name.

b. brand mark

The focus of personal selling is shifting from selling a specific product to a. CRM selling. b. building long-term relationships with customers. c. enhancing the firm's image. d. team selling. e. social media selling.

b. building long-term relationships with customers

Which of the following statements does not apply to convenience goods? a. Colas, gasoline, and bread are good examples of convenience goods. b. Consumers are brand loyal to convenience products and are not likely to substitute other brands. c. Convenience products require minimal shopping effort. d. Marketing of convenience products requires intensive exposure of these goods in as many stores as possible. e. Consumers tend to feel that the most desirable retail facility for convenience products is the closest one.

b. consumers are brand loyal to convenience products and are not likely to substitute other brands

Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of a. product mix consistency. b. depth of product mix. c. a market mix. d. a promotion mix. e. width of product mix.

b. depth of a product mix

Cranson Paint Manufacturing Company buys the chemicals it needs for producing its products from a chemical producer, Roth Chemicals. In this instance, the chemicals are being distributed to Cranson through which of the following types of channels? a. Wholesaler-sponsored b. Direct distribution c. Retail d. Producer e. Industrial distributor

b. direct distribution

All of the following are marketer-dominated sources of information except a. displays. b. friends c. advertising. d. packaging. e. salespeople.

b. friends

Aggressive pricing is typical during the ____ stage of the product life cycle. a. introduction b. growth c. decline d. stabilization e. plateau

b. growth

The buildup approach measure of sales potential a. is seldom employed by industrial firms. b. starts with forecasts about demand for a specific product within a relatively small area. c. does not use sales estimates. d. starts with broad estimates of general economic activity. e. ends with an estimate of a single firm's sales of a specific product

b. starts with forecasts about demand for a specific product within a relatively small area

Walmart is currently expanding its stores into Canada and Mexico. This expansion is being facilitated by the a. European Union. b. Pacific Rim Unification Act. c. North American Free Trade Agreement. d. International Retail Alliance Association. e. Latin American Free Trade Association.

c. North American Free Trade Agreement

Due to the use of cookies, many websites are able to track visitors when they return to their websites. This helps them track how often the visitor views the website and in what products he or she shows an interest. Some websites have capitalized on this by providing product recommendations to users when they return to their websites based on their past activity. This is an example of a. connectivity. b. interactivity. c. addressability. d. accessibility. e. control.

c. addressability

If local Shell gasoline stations look at BP stations' prices as the primary method of determining its own prices, Shell is using ________ a. price fixing, which considers competition to be less important than costs. b. price fixing, which considers costs to be less important than competitor's prices. c. competition-based pricing, which considers costs to be less important than competitor's prices. d. market share pricing, which considers competition to be the ultimate pricing goal. e. competition-based pricing, which considers profit to be the ultimate pricing goal.

c. competition-based pricing, which considers cost to be less important than competitor's prices

Due to external pressures and concerns for privacy, Yahoo now has an opt-out option for Internet-based advertising. This is an example of a. addressability. b. interactivity. c. control. d. connectivity. e. accessibility.

c. control

Julie is a retailing and consumer sciences major and plans to pursue a career in fashion design. She enjoys setting the trends for her friends and owns approximately 50 pairs of shoes. She loves shopping for shoes on Zappos, a popular online retail store that is a subsidiary of Amazon. Zappos offers millions of styles of shoes, but Julie can simplify her search through the use of filters. She can filter the search by style, color, material, brand name, and heel height in order to reduce the number of shoes that appear in the search results. Zappos is taking advantage of _____, one of the characteristics of online media. a. accessibility b. addressability c. control d. connectivity

c. control

ThrowBackGames offers free downloadable versions of its computer games for a very short time. These efforts have a primary promotional objective of a. reducing sales fluctuations. b. creating awareness. c. encouraging product trial. d. stimulating demand. e. identifying prospects.

c. encouraging product trial

The major levels of intensity at which a company can choose to distribute its products are ____ distribution. a. vertical and horizontal b. selective, cooperative, and conflicting c. exclusive, selective, and intensive d. intensive, extensive, and exclusive e. cooperative, conflicting, and integrated

c. exclusive, selective, and intensive

When Anheuser-Busch added Michelob Light to the line of Michelob beers, the firm was using ____ branding. a. individual b. brand-extension c. family d. selective e. licensed

c. family

When marketers at Nabisco met with groups of young adults to identify the types of snacks that young people want, they were engaging in which phase of new-product development? a. Product development b. Test marketing c. Idea generation d. Commercialization e. Business analysis

c. idea generation

Matthew McKinney, director of marketing for Greenwald Industrial Products, complains to his advertising director that the continuing slump in orders has apparently been perpetuated by the firm's failure to have the necessary advertising expenditures. Based on this information, Greenwald is most likely using the ____ approach to determine its advertising expenditures. a. objective-and-task b. judgmental c. percent-of-sales d. arbitrary e. competition-matching

c. percent-of-sales

Morgan needs some spaghetti sauce and always buys Ragu. However, her local supermarket is out of Ragu and since Morgan wants to get home to cook dinner she settles for Prego. Morgan has brand ____ for Ragu and brand ____ for Prego. a. insistence; recognition b. loyalty; preference c. preference; recognition d. insistence; preference e. preference; loyalty

c. preference; recognition

The newest version of a product like Bose headphones is likely to use _____, while the new version of Red Bull is likely to use _____ . a. penetration pricing; price skimming b. psychological pricing; penetration pricing c. price skimming; penetration pricing d. price skimming; promotional pricing e. price skimming; psychological pricing

c. price skimming; penetration pricing

Pedro's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Pedro is a. screening. b. preapproaching. c. prospecting. d. researching. e. surveying.

c. prospecting

China, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, China would be using a(n) a. exchange control. b. embargo. c. quota. d. boycott. e. import tariff.

c. quota

Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective a. distortion. b. organization. c. retention. d. information. e. exposure.

c. retention

A company's customers, employees, shareholders, suppliers, governments, communities, and competitors comprise its a. public. b. marketing mix. c. stakeholders. d. stockholders. e. target market.

c. stakeholders

Running a big sale in order to generate enough cash flow to pay creditors is typical in a situation in which a firm's primary pricing objective is a. market share. b. profit. c. survival. d. keeping the status quo. e. recovery.

c. survival

_______________ are online marketplaces where buyers and sellers from around the world can exchange information, goods, services, ideas, and payments. a. Dealer websites b. Online auction sites c. B2C e-commerce sites d. B2B e-commerce sites e. Contracting sites

d. B2B e-commerce sites

A business partnership between a domestic firm and a foreign firm is known as a. licensing. b. an international partnership. c. a multinational enterprise. d. a joint venture. e. exporting.

d. a joint venture

Break-even analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process. a. product development b. concept testing c. test marketing d. business analysis e. screening

d. business analysis

When Yoplait Yogurt gives a portion of its profits to breast cancer research, it is using a. integrated marketing communications. b. promotion. c. charity marketing. d. cause-related marketing. e. charitable promotion.

d. cause-related marketing

Once a company makes a long-term commitment to a foreign market that has a promising political and economic environment, which of the following options then emerges as a possibility? a. Licensing b. Direct ownership c. Joint venture d. Exporting e. Limited exporting

d. direct ownership

Uber uses a pricing strategy based on real-time market conditions. It charges less in periods of low demand and more during periods of high demand. Sometimes these prices double or triple during periods of high demand. Uber argues that these higher prices motivate more drivers to pick up passengers, thus increasing the supply of drivers needed to handle the additional demand. This demand-based pricing strategy is an example of a. special-event pricing. b. cost-plus pricing. c. reference pricing. d. dynamic pricing. e. penetration pricing.

d. dynamic pricing

If Papa John's wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct a. survey research. b. hypothesis development. c. exploratory research. d. experimental research. e. stratified sampling.

d. experimental research

The marketing concept focuses on a. ​creating maximum visibility for the firm. b. ​maximizing market share in a way that helps to achieve organizational objectives. c. ​achieving the goals of top executives. d. ​satisfying customers' needs in a way that helps to achieve organizational objectives. e. ​maximizing sales in a way that helps to achieve organizational objectives.

d. satisfying the customers needs in a way that helps to achieve organizational objectives

The objective of sampling in marketing research is to a. obtain responses from as many people as possible. b. provide data that can be used to test the hypotheses being investigated. c. ensure that measures in the study are reliable. d. select representative units from a total population. e. control independent variables that might influence research results

d. select representative units from a total population

The U.S. Army recruits soldiers based on the slogan, "Army Strong," implying that people can reach their full personal potential in the U.S. Army. This is an appeal to what need according to Maslow's hierarchy of needs? a. Social b. Safety c. Physiological d. Self-actualization e. Esteem

d. self-actualization

Nate Arnold's Auto Towing Service would best be described as a(n) ____ product. a. specialty b. durable c. shopping d. unsought e. convenience

d. unsought

​Marketing activities are a. ​used by all types and sizes of businesses but are not used by nonprofit organizations. b. ​used by small businesses and small nonprofit organizations the most. c. ​limited to use by larger for-profit and nonprofit organizations. d. ​used by all sizes of organizations including for-profit, nonprofit, and government agencies. e. ​implemented only to increase profits for the organization and to expand the scope of its customer base.

d. used by all sized of organizations including for-profit, nonprofit, and government agencies

The three major categories of influences on the consumer buying decision process are a. situational influences, demographic influences, and psychological influences. b. marketer-dominated influences, psychological influences, and person-specific influences. c. social influences, situational influences, and marketer-dominated influences. d. demographic influences, situational influences, and marketer-dominated influences. e. situational influences, social influences, and psychological influences.

e. situational, social, psychological

People for the Ethical Treatment of Animals (PETA) has demonstrated against the sale of coats made of animal furs. PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers. a. technological b. self-regulatory c. controllable d. political e. sociocultural

e. sociocultural

An organization that decides to buy all of a certain part from the same company is using a. single-supplier purchasing. b. multiple sourcing. c. straight rebuy. d. same vendor analysis. e. sole sourcing.

e. sole sourcing

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses? a. The National Advertising Division b. The National Advertising Review Board c. American Marketing Association d. The Chamber of Commerce e. The Better Business Bureau

e. the better business bureau

The continuum of tangibility goes from ____ on one end to ____ on the other end. a. rational products; irrational products b. service-dominant products; good-dominant products c. mostly service goods; mostly product goods d. pure products; pure services e. easy to see; not easy to see

service-dominant products; good-dominant products

The two basic types of sampling that marketing researchers use are a. probability and nonprobability. b. even and odd. c. stratified and quota. d. planned and spontaneous. e. random and nonrandom.

A. probability and nonprobability

Which type of retailer generally accepts lower margins than traditional retailers in exchange for higher sales volume? a. Discount stores b. Department stores c. Traditional specialty retailers d. Warehouse showrooms e. Direct marketers

a. discount stores

Most markets for products are made up of individuals or groups with diverse needs for products and are called ____ markets. a. heterogeneous b. homogeneous c. differentiated d. undifferentiated e. concentrated

a. heterogeneous

One way service businesses communicate a higher level of service quality to their customers is by having their employees be clean, sharp looking, and dressed in appropriate uniforms. This is a way to address the ____ characteristic of services. a. intangibility b. heterogeneity c. tangibility d. inseparability e. perishability

a. intangibility

Consumerism is a. the efforts of independent individuals, groups, and organizations to protect the rights of consumers. b. the specific development, pricing, promotion, and distribution of products that do not harm the environment. c. the right to be informed. d. President John F. Kennedy's consumer bill of rights. e. marketers' efforts to contribute to the satisfaction and growth of the communities in which they operate.

a. the efforts of independent individuals, groups, and organizations to protect the rights of consumers

Stanley works at a large electronics firm. He needs a new type of software and sends in a purchasing request. The request gets approved. Greg works as a purchasing agent and is in charge of selecting the suppliers and negotiating the terms of purchase. However, before he does so he consults with Marcus, an engineer who works in IT and is highly familiar with the latest software. In this case, Stanley is the ___________, Greg is the _______________, and Marcus is the _____________. a. user; buyer; influencer b. decider; gatekeeper; influencer c. user; decider; gatekeeper d. decider; influencer; gatekeeper e. influencer; buyer; user

a. user; buyer; influencer

Which of the following regulates and makes rules for privacy, fraud, and misappropriation of copyrighted intellectual property, as well as other illicit Internet activities? a. Federal Communication Commission b. Federal Trade Commission c. Federal Bureau of Investigations d. Federal Internet Commission e. Individual states

b. Federal Trade Commission

____ provide businesses with copywriters, artists, production coordinators, media experts, researchers, and other highly skilled specialists. a. Media companies b. Advertising agencies c. Public relation firms d. Promotion experts e. Production companies

b. advertising agencies

Puma maintains a good deal of control over how its products are promoted, displayed, and sold. Because of this control, Puma would be appropriately described as the channel a. intermediary. b. captain. c. terminator. d. price leader. e. allocator.

b. captain

Sadie won a hot-air balloon ride and dinner for two for being the top revenue-producing mortgage loan officer at her company for the month of October. This contest exemplifies a company's efforts at a. increasing sales territories. b. motivating salespeople. c. providing training for the sales force. d. promoting salespeople. e. compensating salespeople.

b. motivating salespeople

Designing research procedures that produce reliable marketing data means that a. the procedure must give results that support the hypothesis. b. others using the same procedure will get almost identical data. c. sampling must be done in a completely random manner. d. the procedure must not give results that contradict other research studies. e. the procedure may give results that contradict other research studies

b. others using the same procedure will get almost identical data

An evaluation performed before an advertising campaign begins is a a. consumer exam. b. pretest. c. recognition test. d. recall test. e. posttest.

b. pretest

The supply chain begins with______________ and ends with_________________. a. marketing; sales b. raw materials; customers c. production; inventory d. employees; products e. strategy; implementation

b. raw materials; customers

Dial Soap's advertising slogan "Aren't you glad you use Dial? Don't you wish everybody did?" exemplifies the use of ____ advertising. a. offensive b. reinforcement c. defensive d. institutional e. comparative

b. reinforcement

Facing competition from Walmart as a low-cost retailer, Target has updated its _____ to be a mass merchandiser of inexpensive yet chic goods. To accomplish this, it has entered into design partnerships to offer low-cost goods made by famous designers. a. target customer b. retail positioning c. product mix depth d. atmospherics e. product mix width

b. retail positioning

The United States Army purchases uniforms from a single supplier. For the last 25 years, the trousers purchased from this supplier have not changed and have been bought every six months, in seven different sizes. This example is called a a. repetitive purchase. b. straight rebuy. c. modified rebuy. d. new-product purchase. e. standard order.

b. straight rebuy

Consumers are changing ____ and consumption behaviors to fit with emerging technologies and trends. a. their spending money b. their information searches c. their disposable income d. their eating habits e. their shopping partners

b. their information searches

Hotels try to price rooms to maximize resources by quickly adapting to changes in demand. Part of this involves anticipating consumer behavior and calculating a number of different factors, including demand for rooms at a particular time period, likely length of stay, types of rooms likely to be requested, etc. It wants to be able to sell rooms at the right price to the right people. This pricing strategy is an example of a. price skimming. b. yield management. c. special-event pricing. d. penetration pricing. e. differential pricing.

b. yield management

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product? a. Accessory equipment b. Installations c. Raw materials d. Process materials e. Component parts

b.installations

Which of the following characteristics distinguish online media from traditional marketing? a. Experience, networking, and personal contact b. Social networking, personal contacts, control, and salesmanship c. Addressability, interactivity, accessibility, connectivity, and control d. Dynamic responsiveness, control, friendliness, and attention-getting e. Environment, responsiveness, customization, and affordability

c. addressability, interactivity, accessibility, connectivity, and control

The ____ is the difference in value between a nation's exports and its imports. a. net trade value b. gross domestic product c. balance of trade d. export/import ratio e. balance of payments

c. balance of trade

Heinz uses various techniques such as coupons, free samples, and consumer contests to encourage consumers to try its products. All of these marketing activities are considered a. consumer incentives. b. buying allowances. c. consumer sales promotion methods. d. trade sales promotion methods. e. consumer sweepstakes.

c. consumer sales promotion methods

You work in the marketing department of shoe firm Weasley Inc. Over the past month you have been working with management to revise the company's mission statement and set specific marketing goals for the upcoming year. Today you are meeting with your marketing team and discussing the next step in the strategic planning process. What is this next step? a. Evaluating the performance of the marketing strategy b. Analyzing the organization's strengths and weaknesses and identifying its threats and opportunities c. Formulating corporate and business-unit strategies d. Determining performance standards to analyze the successful implementation of goals e. Writing up a marketing plan

c. formulating corporate and business-unit strategies

In Singapore, the price of imported Scotch is $30 per glass as opposed to Scotch from Singapore, which is $3. Which of the following do you think accounts for the difference in price? a. Embargo b. Balance of trade c. Import tariff d. Export tariff e. Exchange control

c. import tariff

New store formats and advances in _______________ are making the retail environment highly dynamic and competitive. a. inventory management b. architecture c. information technology d. shopping mall configurations e. product styles and quality

c. information technology

An independent businessperson who is paid a commission to sell complementary products of different producers in an assigned territory without actually taking title of the merchandise is a(n) a. producers' broker. b. sole intermediary. c. manufacturers' agent. d. channel facilitator. e. industrial distributor

c. manufacturer's agent

When Clorox introduced bleach in a no-drip bottle, the firm was taking action consistent with its product being in the ____ stage of the product life cycle. a. stabilization b. decline c. maturity d. introduction e. growth

c. maturity

A list of the exact magazines, newspapers, and television stations in which an advertisement will appear, along with the dates and times, is a(n) a. advertising appropriation. b. advertising message. c. media plan. d. advertising plan. e. media platform.

c. media plan

When McDonald's uses the Monopoly game in which customers receive game pieces with each visit and try to assemble a set of properties to win prizes, McDonald's is utilizing a. guerrilla marketing. b. advertising. c. sales promotion. d. public relations. e. personal selling.

c. sales promotion

Retailers play a major role in creating all of the following except a. form utility. b. possession utility. c. spatial utility. d. place utility. e. time utility.

c. spatial utility

Carlos Suarez has been hired as sales manager at a new firm and is trying to come up with a sales force compensation method. He would like to have selling expenses relate directly to sales resources, an aggressive sales force, and minimization of non-selling tasks. What compensation method(s) would best fulfill his requirements? a. Straight salary plus generous fringe benefits b. Straight salary c. Straight commission d. Combination e. Salary plus a bonus

c. straight commission

Which of the following is an example of a behavioristic segmentation variable? a. Family size b. Age c. Usage rate d. Personality characteristics e. Climate

c. usage rate

When products are introduced into one nation from another, acceptance is far more likely a. if prices are set very low. b. when retailers are given incentives to push the products. c. if packaging is adjusted to match local preferences. d. if there are similarities between the two cultures. e. when bribes are paid to local officials to aid distribution.

d. if there are similarities between the two cultures

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers. a. wealthier b. veteran c. younger d. inexperienced e. older

d. inexperienced

Apple makes its computers available through its own stores, its website, and some major retailers. This is an example a. horizontal integration. b. vertical integration. c. exclusive dealing. d. multichannel distribution. e. tying agreements.

d. multichannel distribution

Anything that reduces the accuracy and clarity of communication is called a. interference. b. feedback. c. discordance. d. noise. e. distraction.

d. noise

Marc works for F1 where his responsibilities include maintaining favorable relationships between the organization and its stakeholders. Marc is most likely employed in a. advertising. b. sales. c. human resources. d. public relations. e. digital media marketing.

d. public relations

Candy and Sarah own and operate a small restaurant. On a weekly basis, they go to their local Sam's Wholesale Club to purchase the food items and cleaning supplies they need for their business. With the exception of the volume they purchase and the items' intended use, this grocery shopping trip is identical to a weekly trip by their families to a grocery store. Sam's is serving as a ____ wholesaler for these entrepreneurs. a. truck b. specialty-line c. full-service merchant d. general-line e. cash-and-carry

e. cash-and-carry

Children often achieve ____ by observing parents and older siblings in purchase situations and then through their own purchase experiences. a. social class b. role identification c. attitude formation d. personality e. consumer socialization

e. consumer socialization

Firestone is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Firestone's tire products is said to be ____ since it depends on the demand for new cars. a. fluctuating b. inelastic c. nonderived d. elastic e. derived

e. derived

The fact that senior citizens are charged a lower price at movie theaters than younger adults is an example of ____ pricing. a. professional b. psychological c. price-line d. promotional e. differential

e. differential

Julia was reviewing her bank statement for last month. She had paid her rent, her car payment, electric and phone bills, and made three trips to the grocery. Julia had also bought tickets to an Ariana Grande concert and new clothes to wear to the concert. The money spent on Julia's rent, car, electric, and phone bills was likely from her ____ , while the money spent on the concert tickets and new clothes was from her _____. a. gross income; disposable income b. gross income; savings income c. disposable income; net income d. disposable income; savings e. disposable income; discretionary income

e. disposable income; discretionary income

When more information is needed about a problem and a tentative hypothesis needs to be made more specific, marketers usually conduct ____ research. a. descriptive b. experimental c. conclusive d. analytical statistical e. exploratory

e. exploratory

General Electric calculates that the total number of light bulbs sold to consumers in the next year by all light bulb producers is 1 billion, given anticipated marketing efforts by the firms involved. This figure represents the industry's a. sales forecast. b. sales potential. c. sales objective. d. target growth rate. e. market potential.

e. market potential

In a franchise agreement, which of the following is a franchisee not responsible for? a. Maintenance of location b. Operation of the franchise c. Royalty and advertising fees d. Franchise fee e. National advertising campaign

e. national advertising campaign

The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of a. personal selling. b. direct marketing. c. sales promotion. d. social media. e. publicity

e. publicity