MKTG (2&3)

Which one of the following item is NOT a statement that used to measure value expressive function of luxury brand? A) Luxury brands reflect the kind of person I see myself to be B) Luxury brands help to communicate my self-identity C) Luxury brands help me fit into important social situations D) Luxury brands help me express myself E) Luxury brands help me define myself

A) Luxury brands reflect the kind of person I see myself to be

Jason chose to survey 75 companies. He sent surveys to both small as well as large companies. If Jason selected survey recipients randomly from two mutually exclusive groups comprised of small and large companies respectively, he most likely used a ________. A) Simple random sample B) Judgment sample C) Convenience sample D) Stratified random sample E) Quota sample

E) Quota sample

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new product development process before P&G could. a. Commercialization b. Co-marketing c. Idea generation d. Idea screening e. simulation

a. Commercialization

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.

equity

Companies are doing less ________ and more ________ as a result of the explosive developments in communication technologies to better target smaller customer segments.

mass marketing; digital marketing

Quick Oil, LLC is a company that does one thing; provides oil changes for automobiles. The company identified the total variable expenses per car/per oil change is $9. The fixed expenses at Quick Oil, LLC. (rent, heat, etc.) per week is $2,400, and will not increase when an additional car is serviced. Revenues (or sales) at Quick Oil, LLC are the amounts earned from servicing cars. The company charges one flat fee of $24 for performing the oil change service. For $24 the company changes the oil and filter, adds needed fluids, adds air to the tires, and inspects engine belts. At the present time no other service is provided and the $24 fee is the same for all automobiles regardless of engine size. The marginal profit per car is:

$24-$9 = $15

In 2011, the fixed costs of a company were $500,000, and its variable costs equaled $150,000. In 2010, the company made an annual profit of $200,000. It has been predicted that, despite a steady growth, the company's variable costs will likely equal $300,000 by 2013. The total costs of the company in 2011 were ________.

$650,000

A local car council raises the price of car parking from $3 per day to $5 per day and finds that number of cars parking went from 1,200 cars a day to 900 cars per day. Calculate the price elasticity of demand for this price change.

% change in price = (+) 66.7%% change in demand = (-) 25%PED = -25/66.7= 0.375

Quick Oil, LLC is a company that does one thing; provides oil changes for automobiles. The company identified the total variable expenses per car/per oil change is $9. The fixed expenses at Quick Oil, LLC. (rent, heat, etc.) per week is $2,400, and will not increase when an additional car is serviced. Revenues (or sales) at Quick Oil, LLC are the amounts earned from servicing cars. The company charges one flat fee of $24 for performing the oil change service. For $24 the company changes the oil and filter, adds needed fluids, adds air to the tires, and inspects engine belts. At the present time no other service is provided and the $24 fee is the same for all automobiles regardless of engine size. If the owner of Quick Oil, LLC needs to earn a profit of $1,200 per week, how many cars would he have to service per week?

((2400+1200)/15) = $240

Mansfield Pharmaceuticals markets Zipro, an antibiotic. The firm has fixed costs of $1,000,000 and variable costs of $2 per bottle of 50 tablets priced at $10 per bottle. What is the break-even volume?

125,000 1,000,000/ (10-2) = 125,000

Quick Oil, LLC is a company that does one thing; provides oil changes for automobiles. The company identified the total variable expenses per car/per oil change is $9. The fixed expenses at Quick Oil, LLC. (rent, heat, etc.) per week is $2,400, and will not increase when an additional car is serviced. Revenues (or sales) at Quick Oil, LLC are the amounts earned from servicing cars. The company charges one flat fee of $24 for performing the oil change service. For $24 the company changes the oil and filter, adds needed fluids, adds air to the tires, and inspects engine belts. At the present time no other service is provided and the $24 fee is the same for all automobiles regardless of engine size. The breakeven point in cars serviced per week is:

2400/15 = 160

In new product development process, what is the step after idea screening? A) Concept development and testing B) Develop marketing strategy C) Product development D) Test market E) Business analysis

A) Concept development and testing

Suppose Amazon.com has offered you free shipping on your next purchase of more than $35. This offer is an example of ________. A) sales promotion B) personal selling C) a public relations strategy D) horizontal diversification E) a pull strategy

A) sales promotion

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________. A) test marketing B) focus group surveys C) commercialization D) post-testing E) business analysis

A) test marketing

Gillette razor shows its unique selling proposition in the advertisement; this is a tactic to arouse________ according to AIDA. A. Attention B. Action C. Interest D. Desire

A. Attention

Which of the following is NOT an example of the changing marketing communications environment? A.Increased investment in personal selling B.Companies are doing more narrowcasting C.Improvements in information technology

A.Increased investment in personal selling

Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________. A) Ethnographic research B) Internal databases C) Descriptive research D) Data warehouses E) Casual research

B) Internal databases

An ad for Maybelline age-minimizing makeup in Ladies' Home Journal magazine featured actress Gigi Hadid and offered readers a $2-off coupon when they tried the new makeup. In terms of the communication model, the sender of this message is ________. A) Gigi Hadid B) Ladies' Home Journal C) readers who redeem the $2-off coupon D) Maybelline E) the target market to which Gigi Hadid appeals

B) Ladies' Home Journal

Boson Corp. is introducing consumers to its new car with the help of an advertisementcampaign. This introductory campaign most likely aims to affect the ________ stage of buyer-readiness. A) liking B) awareness C) preference D) insistence E) conviction

B) awareness

Multiprint, a printer manufacturing firm, sells ink cartridges for each of its specific models. Only Multiprint cartridges are compatible with Multiprint printers, and no two models share the same specifications. What type of pricing does Multiprint use? A) product line pricing B) captive product pricing C) optional product pricing D) by-product pricing E) product bundle pricing

B) captive product pricing

Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink? A) internal research B) descriptive research C) causal research D) exploratory research E) demographic research

B) descriptive research

In a recent radio spot, John and Barb gave a quick explanation of Sparkle's cleaning process and a description of the value consumers receive for their money. This is an example of a(n)________. A) moral appeal B) rational appeal C) standard appeal D) emotional appeal E) social appeal

B) rational appeal

Juanita Petino, a nutritionist, decided to test the effects of two breakfast cereals, Kinglo and Loopy, on different consumer groups. For the purpose of her study, she divided 20 volunteers into two groups and asked the members of one group to have Kinglo cereal and the members of the other group to have Loopy cereal for breakfast. She decided to compare the responses of the volunteers after a week to gain deeper insights into consumer attitude. In this instance, Juanita is using ________. A) niche marketing B) experimental research C) product differentiation D) ethnographic research E) viral marketing

B) experimental research

When a product is in the maturity stage, the company should most likely consider ________. A) harvesting the product B) modifying the product, market, or marketing mix C) divesting the product D) liquidating the product E) dropping the product

B) modifying the product, market, or marketing mix

An increasing number of retailers and wholesalers have created their own ________, also called store brands. A) unsought products B) private brands C) specialty products D) service variability E) shopping products

B) private brands

Business and marketing professionals refer to the saturation of advertisement as_________. A. Niche B. Clutter C. Equilibration D. Viral

B. Clutter

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify? A. Idea screening B. Idea generation C. Product development D. None of the above

B. Idea generation

In idea screening process, we should follow the R-W-W screening framework. What does the letter "R" represent? A) Is it reliable? B) Is it random? C) Is it real? D) Is it ready?

C) Is it real?

________ represent(s) consumers' perceptions and feelings about a product and its performance. A) product line B) experience C) brand D) service E) attribute

C) brand

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new product development process. A) business feasibility B) feasibility study C) business analysis D) product acceptance E) concept testing

C) business analysis

Companies often fail to integrate their various messages to consumers because ________. A) historically, consumers have been able to distinguish between message sources B) advertising departments are reluctant to work with public relations professionals C) communications often come from different parts of the company D) personal selling and sales promotion are in direct conflict E) firms have overemphasized the concept of brand contact

C) communications often come from different parts of the company

Big Mike's Health Food Store sells nutritional energy-producing foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of ________. A) price elasticity B) cost-plus pricing C) dynamic pricing D) everyday low pricing E) penetration pricing

C) dynamic pricing

Which of the following is NOT a reason that companies use social media? A) cost effectiveness B) engagement and social sharing capabilities C) ease of creating content D) immediacy and timeliness E) interactiveness

C) ease of creating content

Many firms hire celebrities to appear in their advertisements. Which step of the communication process is represented? A) collecting feedback B) designing a message C) selecting the message source D) determining the communication objectives E) choosing the media

C) selecting the message source

To communicate effectively, a marketing communicator should most likely ________. A) ensure that the encoding and decoding processes are different B) encode and decode the message personally and frequently C) understand the consumer's field of experience D) foresee unplanned static or distortion E) use familiar words and symbols

C) understand the consumer's field of experience

Colgate states it is the "1st brand recommended by dentists". This is an example of________. A.Select the message source B.Choosing media C.Designing a message D.Identifying the target audience

C.Designing a message

7) Excel Enterprises uses a Web site, online social networks, and print advertisements to promote its products. Since Excel Enterprises practices integrated marketing communications, all these different brand contacts maintain ________ in design and tone. A) variety B) simplicity C) creativity D) consistency E) flexibility

D) consistency

An integrated social marketing campaign likely could include all of the following EXCEPT________. A) Facebook pages B) Twitter postings C) Instagram photos D) iTunes podcasts E) YouTube videos

D) iTunes podcasts

Jaime Gonzalez owns a small publishing company in Utah and has a very restrictive budget for the market research he currently needs to conduct. He requires a large sample size for his research in order to arrive at insightful conclusions. Additionally, he wants to have excellent control over his sample. Keeping in mind his restrictive budget and other specifications, which of the following methods of contact would you advise Jaime to use? A) telephone interviews B) individual interviews C) online surveys D) mail questionnaires E) focus group interviews

D) mail questionnaires

Advantages of direct and digital marketing for sellers include all of the following EXCEPT ________. A) low cost B) efficiency C) speed D) need for sales training E) flexibility

D) need for sales training

In the communication process, an actual HP printer/fax machine advertisement would be considered ________. A) encoding B) decoding C) the product D) the message E) the medium

D) the message

Factors a company considers in setting its price include all of the following EXCEPT ________. A) competitors' strategies and prices B) product costs C) overall marketing strategy and mix D) value of the product on the pre-owned market E) nature of the market and demand

D) value of the product on the pre-owned market

When talking about AIDA model in online lecture, we watched a Doritos' commercial to learn how to keep audience's interest. What tactics does Doritos Commercial attempt to hold audience's interest? https://www.youtube.com/watch?v=rDG2rahEGyI A. Dialog B. Cartoon C. Rational statement D. Drama

D. DRAMA

When talking about buyer-readiness stage in online lecture, we talked about an advertisement that encourages women to buy rings for themselves. The information provided is targeting which readiness stage? A. Knowledge B. Preference C. Awareness D. Liking E. Conviction

D. Liking

The decision to use an NBA star player to communicate the desirability of Nike basketball shoes represents the ________ process of the communication model. A) sourcing B) messaging C) acknowledging D) decoding E) encoding

E) encoding

In the new product development process, the first idea-reducing stage is ________. A) business analysis B) idea generation C) concept development D) crowdsourcing E) idea screening

E) idea screening

Which of the following is a specialized and highly targeted media selection that an advertiser might use to reach smaller customer segments with personalized content? A) radio B) magazines C) newspapers D) network television E) online social networks

E) online social networks

According to the article "Social media: The new hybrid element of the promotion mix". Which of the following statement is used to describe inbound marketing? A. Direct mail is considered as inbound marketing B. Inbound marketing is more straightforward in sales C. Inbound marketing is focusing on pushing the customer out of the market D. Traditional advertising methods are used widely in inbound marketing E. Inbound marketing focuses on pulling audiences in instead of going out to get prospects' attention

E. Inbound marketing focuses on pulling audiences in instead of going out to get prospects' attention

Bon Vivant offers an assortment of exclusive French wines at incredibly low prices. These prices are neither limited-time offers nor special discounts, but represent the daily prices of products sold by Bon Vivant. This reflects Bon Vivant's ________ pricing strategy.

Everyday low

The Bella Capri runs as an Italian restaurant that specializes in freshly prepared cooked meals. It is located in premises on a main street of town with seating capacity for 45 customers. The lease on the premises is $250 per week. General business expenses are a further $150 each week. Light, heat and fuel are $40 per week. Wage costs for three staff (cook and two waiters) is $600 per week including all other employment costs. The restaurant has set their prices so that it is possible to buy a meal for around $16 per head on average. The cost of the ingredients would be no more than $4 per head. What will be the breakeven in units for the Bella Capri?

Fixed cost for Bella capri per week = Lease for premises + General business expenses + Light, heat,fuel+ Wage cost = $250 + $150+$40 +$600 = $1040 per week Variable cost for 45 customers = $4 cost of ingredient per head x 45 =$180 Breakeven quantity per week = N units At break even quantity , Total revenue = Total cost Since price per meal $16 $16.N = $1040 ( fixed cost) + $4.N Or, 12.N = 1040 Or, N =86.66 ( 87 rounded to nearest whole number ) Breakeven in units for Bella capri = 87 units per week

A company faces fixed costs of $100,000 and variable costs of $8 per unit. It plans to directly sell its product in the market for $12. How many units must it produce and sell to break even?

If company wants to sell it at break even, then the cost price and selling price will be equal. If variable cost is $8 per unit and selling price is $12, then Fixed price per unit = selling price - variable cost = 12 - 8 = $4 To find number of units, Number of units to be sold = Total fixed cost / fixed cost per unit = 100000/ 4 = 25000 units.

The Bella Capri runs as an Italian restaurant that specializes in freshly prepared cooked meals. It is located in premises on a main street of town with seating capacity for 45 customers. The lease on the premises is $250 per week. General business expesnes are a further $150 each week. Light, heat and fuel are $40 per week. Wage costs for three staff (cook and two waiters) is $600 per week including all other employment costs. The restaurant has set their prices so that it is possible to buy a meal for around $16 per head on average. The cost of the ingredients would be no more than $4 per head. What will be the fixed costs for Bella Capri per week?

Lease for premises + General business expenses + Light, heat,fuel+ Wage cost = $250 + $150+$40 +$600 = $1040 per week

What is a disadvantage of a viral success?

Marketers have little control over where the message ends up or how it is passed on

A charitable trust's appeal which states, "While you are trying to figure out what to get the man who has everything, don't forget the man who has nothing" is an example of a(n) ________ appeal.

Moral

A cinema charges $8 per ticket for evening screenings and sells 250 tickets a night on average. The estimate that the price elasticity of demand for ticket is (-)1.6. Please calculate the expected number of tickets sold if they reduce the ticket price to $7.

Ped = % change in Qty Demanded / % change in Price % change in price = (7-8)/8 = - 0,125 or 12.5% If Ped = -1.6 then ticket sales will rise by 1.6 * 12.5% = 20% 20% of 250 is 50 extra tickets Expected tickets sold rises to 300

A 5 percent increase in the price of milk that results in a 2 percent decrease in the quantity of milk demanded yields a price elasticity of demand for milk of:

Price elasticity = % change in demand / % change in price = 2/5 = 0.4 INELASTIC

________ refers to a measure of the sensitivity of demand to changes in price

Price elasticity of demand

After a brief stay at a luxury hotel in Paris, Benjamin Sanders noted that the hotel had kept every promise it made when he booked the room, meeting all his needs. He added that it was a "thoroughly comfortable and opulent experience." According to Young & Rubicam's Brand Asset Valuator, this reflects brand ________.

Relevance

The Bella Capri runs as an Italian restaurant that specializes in freshly prepared cooked meals. It is located in premises on a main street of town with seating capacity for 45 customers. The lease on the premises is $250 per week. General business expesnes are a further $150 each week. Light, heat and fuel are $40 per week. Wage costs for three staff (cook and two waiters) is $600 per week including all other employment costs. The restaurant has set their prices so that it is possible to buy a meal for around $16 per head on average. The cost of the ingredients would be no more than $4 per head. What will be the variable costs for Bella Capri based on 45 customers?

Variable cost: $4 cost of ingredient per head x 45 = $180

________ involves creating a video, e-mail, mobile message, advertisement, or other marketing event that is so infectious that customers will seek it out or pass it along to their friends.

Viral marketing

Under which of the following conditions is a product most likely to have an elastic demand? a) Consumers can easily find close substitutes for the product b) The marginal cost of producing the product is equal to its marginal revenue c) A large portion of a person's budget is spent on the product d) The fixed costs associated with producing the product are higher than the variable costs associated with it

a) Consumers can easily find close substitutes for the product

Sparkling Valley, a luxury resort, prices cottages facing the lake higher than cottages that do not, even though the cottages and services offered are identical in every other aspect. This form of pricing is called ________ pricing. a) Location-based b) Time-based c) By-product d) Seasonal e) Captive product

a) Location-based

Hearth & Home, a store which sells household products, has announced a one-week sale on its new carpet line. This is an example of ________. a) Promotional pricing b) Seasonal pricing c) By-product pricing

a) Promotional pricing

While dishwasher-manufacturing company spent 10 days observing people as they used their dishwashers in their homes. In this instance, the designers were conducting ________. a) causal research b) survey research c) quantitative marketing research d) experimental research

a) causal research

The objective of causal research is to ________. a) test hypotheses about cause-and-effect relationships b) gather preliminary information that will help suggest hypotheses c) describe things, such as the market potential for a product d) assign a cause to a seemingly random event e) predict the effect of a random event on unrelated entities

a) test hypotheses about cause-and-effect relationships

Akira Takano, a marketing manager, is about to test the hypothesis that the sale of a particular product will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in ________ research. a. causal b. exploratory c. descriptive d. Constructive

a. causal

Symmonds Inc., a company manufacturing breakfast cereals, has extended its special Crispo cereal brand into a full line of breakfast cereals plus protein shakes, fruit and sandwich spreads, butter, and doughnuts. This is an example of ________. a) Line extension b) Brand extension c) Licensing d) Co-branding e) cannibalization

b) Brand extension

Which one of the following characteristics is NOT used to describe a mature product? a) Slow down in sales b) Overcapacity leads to competition c) Many suppliers in the market d) New competitors enter the market e) None of the above

d) New competitors enter the market

Big Moose Toys is a market pioneer introducing a modern version of Bubble the Moose, a character from an animated television series originally broadcast in the '50s and '60s. The company's version of Sandy the Flying Squirrel, a character from the show targeted to baby boomers, was a strong success. Since the firm is a market pioneer, it needs to make the new launch strategy for Bubble the Moose consistent with the intended ________. a) Pricing b) Product positioning c) Brand extension d) Prototype e) fad

b) Product positioning

Why are customers often considered the most important sources of new product Ideas? a) Customers are close to the market and can pass along information about problems and new product possibilities. b) The company can analyze customer questions and complaints to find new products that better solve consumer problems. c) Customers buy competing new products, take them apart to see how they work, analyze sales, and then decide to purchase. d) Customers review the sales, costs, and profit projections for a new product to find out whether the product satisfies the company's objectives. e) Customers estimate the minimum and maximum sales to assess the range of risk.

b) The company can analyze customer questions and complaints to find new products that better solve consumer problems.

Which of the following is a disadvantage of online focus groups? a) Participants must be in a central location b) The internet format can restrict respondents' expressiveness c) Results take longer to tabulate and analyze d) The cost of online focus groups is greater than that of most other qualitative research methods e) The format of focus groups can be varied

b) The internet format can restrict respondents' expressiveness

The research plan ________. a) provides comprehensive marketing intelligence about competitors b) outlines sources of existing data and spells out the specific research approaches c) does not include sampling plans d) does not include contact methods e) precedes the definition of research objectives

b) outlines sources of existing data and spells out the specific

Starbucks introduced a less-than-perfect mobile payments app, then worked out the flaws after the launch. The company chose speed to market over a perfect app at introduction. This illustrates ________. a) why many companies engage in crowdsourcing b) the influence of fast-changing market developments c) why prototypes are so important d) how idea screening can make a product a commercial success e) the importance of different sources for idea generation

b) the influence of fast-changing market developments

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to counteract competitive responses. Kellogg's is in the ________ stage of the product life cycle. a. Introduction b. Growth c. Maturity d. Decline e. Adoption

b. Growth

Spartan Sportsgear is a company that sells sports equipment for adventure sports. It recently launched ExtremeSpartan.com to showcase products and provide testimonials of famous adventure sports athletes who use Spartan's products. It also includes videos and blogs. Which of the following best describes ExtremeSpartan.com?

branded community Web site

Which of the following is true with regard to gathering secondary data? a) Secondary data eliminates the need for primary data in most cases. b) Commercial online databases contain primary rather than secondary data c) Internet search engines can be useful sources of relevant secondary data. d) It is illegal for firms to purchase secondary data from outside suppliers. e) Gathering secondary data involves costly fees to government agencies.

c) Internet search engines can be useful sources of relevant secondary data.

Which of the following is true with regard to marketing research? a) The marketing research process depends primarily on sophisticated internal databases. b) The marketing research process requires assessing macroeconomic forces. c) Marketing research gives marketers insights into customer motivations. d) Marketing research eliminates the need for a SWOT analysis. e) Marketing research is a simple two-step process.

c) Marketing research gives marketers insights into customer motivations.

Which of the following market structures involves a heterogeneous product and product differentiation among competing suppliers, allowing the marketer some degree of control over prices? a) Pure competition b) Monopoly c) Monopolistic Competition d) Complementary monopoly

c) Monopolistic Competition

Which of the following is an example of primary data? a) The economic census b) The census of population c) Personal interviews done later today at Galleria Mall d) Clark County tax records

c) Personal interviews done later today at Galleria Mall

Positioning and Branding are often confused. Which of the following is true? a) Positioning is about intangibles and branding is about differentiation b) Positioning is about "what experience can I get," while branding is about "why buy me?" c) Positioning is about "why buy me?, while branding is about "what experience I can get" d) Positioning is long term, while branding is short term e)None of the above

c) Positioning is about "why buy me?, while branding is about "what experience I can get"

Which of the following is true with regard to store brands? a) Store brands have been declining in popularity and strength for more than two decades. b) Store brands are also known as national brands c) Store brands are created and owned by resellers of a product or service d) Increasing consumer distruct towards tore brands has led to a store-brand slump e) Store rands are growing far slower than manufacturer's brands.

c) Store brands are created and owned by resellers of a product or service

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________. a) conduct surveys of competitors b) exclusively consider the government's opinions c) consider the sales history of similar products d) apply the PLC concept to industry sales e) opt for business process reengineering

c) consider the sales history of similar products

A company sent a trained observer to watch and interact with consumers in their natural environments in order to gain deeper insights on consumer needs. This is an example of ________. a) viral marketing b) survey research c) ethnographic research d) experimental research e) niche marketing

c) ethnographic research

Which of the following is the first step in the marketing research process? a) collect the data. b) analyze the marketplace. c) identify and formulate the problem/opportunity to be studied. d) specify the sampling plan. e) plan the research design.

c) identify and formulate the problem/opportunity to be studied.

Apple's Ipad has been called "one of the greatest consumer electronics hits of all time." IPads have been sold in huge numbers, and Apple captures a large share of the market. This success has attracted many large, resourceful competitors. The iPad is in the ________ stage of the product life cycle. a) introduction b) product development c) maturity d) decline e) adoption

c) maturity

Which of the following is an advantage of using an internal database? a. Data always reminds current in internal databases b. Highly sophisticated equipment and techniques are not required for maintaining internal databases c. Internal databases can be accessed more quickly and cheaply than other information sources d. Internal databases require less maintenance efforts

c. Internal databases can be accessed more quickly and cheaply than other information sources

In the article "Why Do People Purchase Counterfeit Luxury Product?" researchers found that __________ function of attitude toward counterfeit luxury product is the primary motivation to purchase intention. a. Ego-defensive b. Value-expressive c. Social-adjustive d. Utilitarian

c. Social-adjustive

In which step of the communication process does the marketing communicator need to know the buyer-readiness stage of the target audience? a. collecting feedback b. choosing the media through which to send the message c. determining communication objectives d. designing the message

c. determining communication objectives

P&G has sold off a number of lesser or declining brands such as Folgers coffee and Cover Girl cosmetics. In these examples, management decided to ________ the products. a further test b. maintain c. drop d. harvest e. ignore the test market results of

c. drop

JoAnn Fabrics Inc. has created a new combination of colors and fabric types. The firm wants to know how consumers will perceive the new product. The firm is concerned with the product ________. a. idea b. concept c. image d. proposal e. presentation

c. image

Most products in the marketplace are in the ________ stage of the product life cycle. a. growth b. decline c. maturity d. introduction e. development

c. maturity

Samsung Mobile plans to launch a new phone with a unit cost of $270 and wants to earn a 10 percent markup on its sales. Samsung's markup price is ________. a) $275 b) $280 c) $295 d) $300 e) $335

d) $300

The slogan "Cesar is the most delicious accessory for your small dog" is an example of________ message structure. a) emotional argument b) two sided argument c) order argument d) draw a conclusion

d) draw a conclusion

YUMMY Corporation is conducting a marketing research on customer satisfaction to numbers of cookie flavors. After collecting the data, they used regression analysis to find out the relationship between customer satisfaction and cookie flavors. The results showed an R square equals to 0.53. Which one of the following is the interpretation of the result? a. 53% of the data is reliable b. 53% of the total numbers of cookie flavors is depending on customer satisfaction c. More than half of the respondents care about cookie flavors d. 53% of the variation in customer satisfaction can be explained by numbers of cookie flavors

d. 53% of the variation in customer satisfaction can be explained by numbers of cookie flavors

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage. a. business analysis b. idea generation c. concept testing d. idea screening

d. idea screening

SparkClean is a company that specializes in producing cleaning products for automobiles. In order to promote its products, SparkClean sends a complimentary sample of its products to auto enthusiasts. Which form of marketing is SparkClean involved in?

direct mail marketing

Gainville Inc. manufactures Android phones. Each new Gainville phone launch advances the cause of democratizing technology. Gainville, an expert in fostering customer community, engages customers at a deep, emotional level, and has been ranked one of the Breakaway Brands by the brand consultancy, Kendell Associates. Gainville is most likely positioned on ________. a) Basic product attributes b) Service variability c) Short-term benefits d) Self-image enhancement e) Strong beliefs and values

e) Strong beliefs and values

Which of the following statements is true of test marketing? a ) The amount of test marketing needed remains constant for each new product. b) When the costs of developing and introducing the product are low, the company will have to do significant test marketing. c) Test marketing is seldom done on products that are risky. d) Test marketing is seldom done when management is not sure of the product or its marketing program. e) Test marketing costs can be high, and it takes time that may allow competitors to gain advantages.

e) Test marketing costs can be high, and it takes time that may allow competitors to gain advantages.

If Jason used mostly open-ended questions in the survey to encourage people to answer in their own words, he is performing ________ research. a) focus group b) qualitative c) Experiential d) Causal e) exploratory

e) exploratory

Which of the following is an advantage offered by co-branding? a. Brand equity is stabilized. b. Retailers have exclusive products that cannot be purchased from competitors. c. Manufacturers do not have to invest in creating their own brand names. d. Advertising, sales, promotion, and marketing must be carefully coordinated. e. A company can expand its existing brand into a category it otherwise might have difficulty entering alone.

e. A company can expand its existing brand into a category it otherwise might have difficulty entering alone.

A home appliance manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of ________.

personal selling

A local car council raises the price of car parking from $3 per day to $5 per day and finds that number of cars parking went from 1,200 cars a day to 900 cars per day. Base on the answer you calculated above, the demand for car parking is __________

price inelastic

A newspaper article announced that Connect Wireless, the sixth-largest wireless carrier in a country, was changing its name to M-Mobile and that to begin the makeover process it had replaced spokesperson Robert Garmon with Catherine Naylor. Which of the following elements of a promotion mix is represented in this example?

public relation