MKTG 300 FINAL

¡Supera tus tareas y exámenes ahora con Quizwiz!

Press conferences, speeches, store openings, special events, newsletters, and store magazines are examples of ________ activities used by retailers to promote themselves. A) public relations B) sales promotions C) personal selling D) affinity marketing E) social marketing

Companies set not a single price, but a pricing ________ which covers different items in its line and changes over time as products move through their life cycles. A) by-product B) structure C) loop D) cycle E) bundle

Companies which set a low price for a new product in order to attract a large number of buyers and a large market share are using the ________ strategy. A) market-skimming pricing B) market-penetration pricing C) cost-plus pricing D) inclusive pricing E) exclusive pricing

Competitive parity and task methods are considered when making decisions about ________. A) sales objectives B) budget C) message structure D) media selection E) metrics

Conflict which occurs among firms at the same level of the marketing channel is known as ________ conflict. A) multitiered B) horizontal C) vertical D) equilateral E) exterior

Conflict which occurs between different levels of the same marketing channel is known as ________ conflict. A) horizontal B) vertical C) multitiered D) equilateral E) communal

Consumer products refer to ________. A) products purchased by consumers for further processing or for use in conducting a business B) products and services bought by final consumers for personal consumption C) primarily intangible offerings from marketers D) raw materials as well as manufactured materials and parts E) products that aid in the consumer's production or operations, including installations and accessory equipment

Costs that change with the level of production are referred to as ________. A) fixed costs B) variable costs C) target costs D) total costs E) overhead costs

Eric Mason, an employee of Huntington Steelworks, is responsible for defining product specifications and providing relevant information for evaluating alternatives in his organization's buying center. Eric, whose opinions affect the buying decisions of his organization to a great extent, is most likely a(n) ________. A) user B) influencer C) decider D) gatekeeper E) buyer

Today, ________ are flourishing due to the increased use of market segmentation and market targeting. A) chain stores B) specialty stores C) superstores D) discount stores E) off-price stores

Trade-in allowances are most commonly used in the ________ industry. A) real estate B) automobile C) dairy products D) financial services E) health care

What sets the floor for product prices? A) consumer perceptions of the product's value B) product costs C) competitors' strategies D) advertising budgets E) market competition

When KFC came into conflict with its franchisees over the brand's "Unthink KFC" repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict. A) equilateral B) vertical C) multitiered D) communal E) horizontal

Which major promotion category makes use of catalogs, telephone marketing, kiosks, and the Internet? A) sales promotion B) direct marketing C) horizontal diversification D) public relations E) advertising

Which of the following companies uses product line pricing? A) Photo Genie, which sells inexpensive cameras that run only on their own expensive batteries B) Mobile Point, which launched a range of cell phone models, each priced according to its features C) Penguin's Parlor, which offers customers a 20% discount on their birthdays and certain holidays D) Green Thumb, which gives away free watering cans with the purchase of certain potted plants E) Panizza, whose combo meals are priced lower than the individual components sold together

Which of the following involves introducing less-expensive versions of established, brand-name products? A) markup pricing B) good-value pricing C) time-based pricing D) cost-based pricing E) target profit pricing

Which of the following is a disadvantage of adding new channels in a multichannel distribution system? A) decreasing complexity of markets B) decreasing control over the system C) reducing opportunities for franchising D) lowering sales and market coverage E) minimizing publicity needs

Which of the following is a price adjustment strategy that considers how a customer's perception of a product is influenced by its price? A) captive product pricing B) psychological pricing C) by-product pricing D) promotional pricing E) international pricing

Which of the following is illustrated by an amateur 30-second video, developed by a consumer, telling the story of an online crafts marketplace, Etsy.com? A) personal selling B) consumer-generated messages C) consumer ethnocentrism D) sales promotion E) consumerism

Which of the following is most likely essential for direct marketing to be effective? A) the selling concept B) good customer database C) well-trained sales force D) ambush marketing E) marketing myopia

Which of the following is most likely gained by stores that cluster together? A) decreased competition B) increased customer pulling power C) compliance with franchise agreements D) creation of retailer cooperatives E) standardization of the service mix

Which of the following is most likely true about database marketing? A) Extensive use of databases seldom intrudes consumers' privacy. B) Companies match customer needs and interests with products and services. C) It is legal for online sellers to plant online cookies in the browsers of consumers. D) It sets up do-not-call lists, do-not-mail lists, and do-not-track online lists. E) Marketers can watch their competitor's moves closely by monitoring the competitor's database.

Which of the following is the fastest growing form of direct-marketing? A) ambush marketing B) online marketing C) direct-mail marketing D) kiosk marketing E) telemarketing

Which of the following is the first step in developing an effective integrated communications and promotion program? A) designing a message B) identifying the target audience C) determining the communication objectives D) collecting feedback E) choosing the media through which to send a message

Which of the following is true of conventional distribution channels? A) Channel members have complete control over each other. B) Channel members seek to maximize their own profits. C) Channel conflict is governed by formal mechanisms. D) Channel members are assigned roles according to a clearly defined framework. E) Channel members work exclusively for the good of the organization.

Which of the following is LEAST relevant when a firm evaluates different market segments? A) segment size and growth B) company resources C) segment structural attractiveness D) core competencies of competitors E) company objectives

Which of the following is most likely an objective of informative advertising? A) build brand preference B) change customer perceptions of brand value C) encourage customers to switch brands D) suggest new uses for a product E) keep the brand in customer minds during off-seasons

Which of the following is the last step in the selling process? A) qualifying B) handling objections C) demonstration D) follow-up E) approach

Which of the following is the most frequently visited type of retail store? A) convenience store B) department store C) superstore D) supermarket E) off-price retailer

Which of the following is true about the territorial sales force structure? A) The territorial sales force structure does not define each salesperson's job clearly. B) Salespeople specialize in selling only a small portion of the company's products. C) In a territorial sales force structure, separate sales forces are set up for different industries. D) Travel expenses are relatively small as each salesperson travels within a limited geographic area. E) In a territorial sales force structure, separate sales forces are often established to handle a single, large account in every territory.

Which of the following is true of FOB-origin pricing? A) It is a strategy in which the company charges the same price plus freight to all customers. B) It is a costly option for customers who are located near the company. C) It charges all customers the freight cost from a base city to the customer location. D) It is an expensive alternative for customers in distant locations. E) It is a strategy in which the seller absorbs all or part of the freight charges.

Orion Inc. markets luxury watches and chronographs. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely uses ________ segmentation. A) income B) age-group C) occasion D) benefit E) cross-market

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

Integrated marketing communications require a company's mass-market advertisements, Web site, e-mail, and personal selling communications to all have ________. A) equal portions of the advertising budget B) independent communications directors C) separate marketing objectives D) the same target audience E) the same message, look, and feel

Managers at the Imperial Hotel-Chicago complained that the chain's overall image was hurt because Imperial Hotel-Dallas was overcharging guests and providing poor service. The Imperial Hotel was experiencing ________ conflict. A) equilateral B) vertical C) multitiered D) communal E) horizontal

The advertisements which use the AFLAC duck or Tony the Tiger are using the message execution style of ________. A) lifestyle B) technical expertise C) testimonial evidence D) slice of life E) personality symbols

Tourism Australia's global marketing campaign, "There's nothing like Australia" is an example of ________. A) corporate image marketing B) person marketing C) organization marketing D) internal marketing E) place marketing

Using ________, marketers form segments of consumers who have similar needs and buying behaviors even though they are located in different countries. A) psychographic segmentation B) demographic segmentation C) occasion segmentation D) benefit segmentation E) intermarket segmentation

What is included in the first part of a marketing strategy statement? A) distribution strategy B) product longevity C) long-run sales goals D) promotional mixes E) target market description

When McDonald's offers its products inside of a Walmart store, it is using a(n) ________. A) conventional marketing system B) corporate VMS C) contractual VMS D) administered VMS E) horizontal marketing system

Which of the following best comprises psychographic data? A) buying preferences B) family members and birthdays C) age and income D) address and region E) activities and interests

________ describes changes in an individual's behavior arising from experience. A) Lifestyle B) Learning C) Perception D) Cognitive dissonance E) Selective attention

After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in ________. A) consumer capitalism B) alternative evaluation C) postpurchase behavior D) consumer ethnocentrism E) information searches

________ is a person's pattern of living as expressed in his/her psychographics, and it includes the individual's activities, interests, and opinions. A) Personality B) Culture C) Lifestyle D) Motive E) Social class

________ may help shape product specifications, but their major role is in selecting vendors and negotiating. A) Gatekeepers B) Deciders C) Buyers D) Influencers E) Users

________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. A) Social classes B) Societal norms C) Reference groups D) Universal cultures E) Social networks

________ assumes that nations close to one another will have many common traits and behaviors. A) Geographic segmentation B) Occasion segmentation C) Psychographic segmentation D) Benefit segmentation E) Demographic segmentation

People tend to interpret new information in a way that will support what they already believe. This is called ________. A) selective retention B) selective distortion C) cognitive dissonance D) selective attention E) cognitive bias

Malcolm Sanders, a graduate student from Boston, makes customized snowboards for local snowboarding enthusiasts. The demand for snowboards peaks during the winter months, a busy time for Malcolm. He advertises more aggressively and sells most of his snowboards around this time. Which market segmentation approach does Malcolm most likely use? A) gender segmentation B) psychographic segmentation C) occasion segmentation D) geographic segmentation E) age and life-cycle segmentation

When marketers at Fair & Leigh Inc. selected the Millennials, a demographic group that includes college students, as an untapped group of potential customers for their new line of products, they were engaging in ________. A) occasion segmenting B) local marketing C) market diversification D) market targeting E) product positioning

New-product development starts with ________. A) idea generation B) idea screening C) concept development D) concept testing E) test marketing

A ________ consists of all the product lines and items that a particular seller offers for sale. A) product mix B) store brand C) supply chain D) value chain E) line extension

A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. A) product line B) line extension C) private brand D) multibrand E) new brand

A ________ is a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover goods. A) convenience store B) chain store C) department store D) supermarket E) hypermarket

A ________ is a wholesaler-sponsored group of independent retailers that engages in group buying and common merchandising. A) voluntary chain B) retailer cooperative C) franchise D) wholesale club E) warehouse club

A ________ is made up of the company, suppliers, distributors, and customers who partner with each other to improve the performance of the entire system. A) value delivery network B) horizontal channel C) consumer base D) product delivery network E) product line

A company must pay each month's bills for rent, heat, interest, and executive salaries regardless of the company's level of output. This exemplifies its ________ costs. A) overhead B) variable C) target D) total E) unit

A(n) ________ is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building. A) salesperson B) trainer C) auditor D) manager E) human resource personnel

A(n) ________ refers to promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer's products in some way. A) allowance B) sample C) discount D) tax credit E) tax exemption

After creating a message strategy statement, the advertiser must develop a compelling ________ that will bring the message strategy to life in a distinctive and memorable way. A) creative concept B) customer strategy C) customer benefit D) execution style E) media vehicle

After determining its advertising objectives, a company's next step in developing an advertising program is to ________. A) set an advertising budget B) determine the media vehicle C) use cash rebate offers D) evaluate the advertising campaign E) develop a message strategy

Johnson Business Solutions maintains one sales force for its copy machines and a separate sales force for its computer systems. Johnson Business Solutions utilizes a(n) ________. A) product sales force structure B) customer sales force structure C) territorial sales force structure D) digital marketing system E) geographical operations system

Keeping the brand in a customer's mind during off-seasons is most likely a goal of ________ advertising. A) reminder B) attack C) informative D) covert E) competitive

Lubricants, coal, paper, and pencils are examples of ________. A) operating supplies B) capital items C) raw materials D) specialty products E) installations

Marketing mix planning begins with ________. A) building an offering that brings value to target customers B) finding a suitable promotion strategy for the product C) setting a reasonable price for the product D) selecting the right channel for distribution of the product E) calculating the total costs involved in manufacturing the product

The Sherman, Clayton, and Robinson-Patman Acts are all federal laws that were enacted to curb the formation of ________. A) monopolies B) global partnerships C) competitive markets D) internal markets E) intrastate partnerships

The ________ organization is the most common type of contractual relationship. A) franchise B) horizontal C) conventional D) multi-national E) entrepreneurial

The break-even volume is the point at which ________. A) the total revenue and total cost curves intersect B) demand equals supply C) the production of one more unit will not lead to increase in demand D) the company can pay off all its long-term debt E) a firm exceeds the sales forecast

To break through the clutter, many marketers have subscribed to a new merging of advertising and entertainment, dubbed ________. A) Madison & Vine B) Wall St. & Fifth Ave C) buzz marketing D) podcasting E) webisodes

Today several companies are adopting the concept of ________, which carefully combines and coordinates the company's many communication channels to deliver a clear, consistent, and compelling message about the organization and its brands. A) integrated marketing communications B) pull strategy C) vertical diversification D) nonpersonal communication channels E) buzz marketing

Venus Inc., a company designing and marketing branded diamond jewelry, targets wealthy consumers with similar needs and buying behaviors, even though the consumers are located in different countries. This is an example of ________. A) intermarket segmentation B) loyalty segmentation C) life-cycle segmentation D) income segmentation E) psychographic segmentation

Which of the following is an example of a convenience product? A) fast food B) diamond ring C) furniture D) life insurance E) refrigerator

Which of the following is true about the concentrated marketing strategy? A) Companies that rely on a few segments for all of their business will suffer if a segment turns sour. B) Concentrated marketing is not profitable for most firms. C) Niche marketing involves few risks for most firms. D) Concentrated marketing involves going after a small share of a large market. E) The Internet has limited the use and benefits of niche marketing

Which of the following is true about the sales force of a company? A) Salespeople represent customers to the company and manage the buyer-seller relationship. B) Salespeople represent workers' interests to upper management. C) The primary responsibility of a sales force is to formulate operational strategies. D) The sales force is responsible for product development and product strategy. E) The sales force oversees the auditing process and recovers money from defaulting customers.

________ are two or more outlets that are commonly owned and controlled. A) Corporate chains B) Convenience stores C) Off-price retailers D) Independent off-price retailers E) Power centers

________ have filled the ultra low-price, high-volume gap by buying at less-than-regular wholesale prices and charging consumers less than retail. A) Off-price retailers B) Specialty stores C) Convenience stores D) Chain stores E) Supercenters

________ involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items. A) High-low pricing B) Everyday low pricing C) Cost-plus pricing D) Break-even pricing E) Penetration pricing

________ pricing uses buyers' perceptions of value as the key to pricing. A) Customer value-based B) Cost-based C) Time-based D) Markup E) Target return

An ad for Athleta active wear shows a woman in a complex yoga pose and states: "If your body is your temple, build it one piece at a time." This ad uses the ________ execution style. A) slice-of-life B) lifestyle C) fantasy D) scientific evidence E) personality symbol

A detailed version of a new idea stated in meaningful customer terms is called a ________. A) product solution B) product concept C) product image D) product proposal E) product lining

A large retailer of home improvement and construction products offers "how-to" classes for do-it-yourselfers, featuring instructions on how to complete home improvement projects using products sold at its stores. This is an example of how the retailer has differentiated itself through its ________. A) product assortment B) services mix C) segmentation D) atmosphere E) pricing

A quantity discount is a price reduction for buyers who ________. A) buy merchandise out of season B) buy merchandise in bulk C) pay their bills on time D) buy discontinued products E) return old items while buying new ones

A(n) ________ consists of one or more independent producers, wholesalers, and retailers, each seeking to maximize its own profits, sometimes even at the expense of the system as a whole. A) multitiered supply chain B) conventional distribution channel C) intrinsic market matrix D) resource bank E) product platform

A(n) ________ is an organized collection of comprehensive data about individual purchasers or prospects. A) corporate Web site B) customer database C) inventory D) warehouse E) enterprise system

A(n) ________ marketing system consists of producers, wholesalers, and retailers acting as a unified system. A) horizontal B) vertical C) multitiered D) communal E) equilateral

Advertising is used mostly by ________. A) governments B) business firms C) social agencies D) independent professionals E) not-for-profit organizations

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________. A) sales promotion B) advertising C) direct marketing D) personal selling E) public relations

As a result of the great success of corporate chains, many independent stores choose to band together in either a voluntary chain or a(n) ________. A) factory outlet B) retailer cooperative C) wholesale club D) warehouse club E) convenience cooperative

Extel Inc., a home appliance manufacturer, uses sales representatives to sell its products to wholesalers and individual customers. This is an example of ________. A) sales promotion B) personal selling C) public relations D) direct marketing E) advertising

Federal legislation on price fixing requires that sellers set their prices ________. A) based on their fixed and variable costs B) without communication from competitors C) to achieve a specific profit margin D) without the intention of cutting into competitors' profits E) consistently throughout a region

From the economic system's point of view, the role of ________ is to transform the assortments of products made by producers into the assortments wanted by consumers. A) upstream partners B) marketing intermediaries C) third-party logistics D) price consultants E) factory supervisors

In a bid to attract more customers in a market which has several competitors, Barrymore's Bakery slashed the prices of all its products by 50%. Managers at the firm reasoned that lower prices would draw in even more customers, making up for the reduction in price several times over. Which of the following pricing strategies are they using? A) market-skimming pricing B) market-penetration pricing C) captive-product pricing D) cash discount pricing E) by-product pricing

Kevin is a salesperson working for a company manufacturing gardening tools. He is involved in door-to-door sales and travels everyday to call on customers. In his company, Kevin is most likely a part of the ________. A) top management B) outside sales force C) product designing team D) customer support team E) inside sales force

Lawyers, accountants, and other professionals typically price by adding a standard markup for profit. This exemplifies ________. A) target pricing B) cost-plus pricing C) value-based pricing D) break-even pricing E) penetration pricing

Specialty stores carry ________ with ________ within them. A) only convenience products; shallow assortments B) narrow product lines; deep assortments C) narrow product lines; shallow assortments D) wide product lines; shallow assortments E) wide product lines; deep assortments

Target return pricing is a variation of which of the following cost-oriented pricing approaches? A) cost-plus pricing B) break-even pricing C) markup pricing D) value-based pricing E) fixed cost pricing

The Bookworm began delivering books directly to customers through mail instead of selling through "brick-and-mortar" companies. This is an example of ________. A) indirect marketing B) disintermediation C) franchising D) exclusive distribution E) intensive distribution

Which of the following involves adjusting prices to account for the physical location of customers? A) location-based pricing B) geographic pricing C) domestic pricing D) interior pricing E) captive pricing

Which of the following is a marketing stimuli? A) economic stimuli B) price stimuli C) technological stimuli D) social stimuli E) cultural stimuli

Which of the following product mix pricing strategies involves pricing multiple products to be sold together? A) product line pricing B) product bundle pricing C) optional product pricing D) by-product pricing E) captive product pricing

Which of the following should be a manufacturer's first step when designing an effective marketing channel? A) set channel objectives B) analyze consumer needs C) identify channel alternatives D) evaluate channel alternatives E) establish strategic alliances

_______ data in a customer database includes information regarding a customer's activities, interests, and opinions. A) Demographic B) Psychographic C) Census D) Geographic E) Behavioral

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. A) Liabilities B) Services C) Brands D) Consumer products E) Specialty products

________ are complex behavioral systems in which people and companies interact to accomplish individual, company, and channel goals. A) Business matrices B) Distribution channels C) Resource banks D) Consumer bases E) Product platforms

________ are manufacturer-owned and operated stores which offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items. A) Category killers B) Factory outlets C) Specialty stores D) Superstores E) Power centers

________ are online journals where people post their thoughts, usually on a narrowly defined topic. A) Social networks B) Blogs C) Forums D) Search engines E) Web directories

________ is defined as analyzing, planning, implementing, and controlling sales force activities. A) Benchmarking B) Sales force management C) Business intelligence D) Sales force automation

________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities. A) Virtual banks B) Intermediaries C) Price consultants D) Uniform-delivery networks E) Upstream partners

A ________ consists of independent firms at different levels of production and distribution who join together through formal agreements to obtain more economies or sales impact than each could achieve alone. A) corporate VMS B) contingency VMS C) contractual VMS D) communal VMS E) conventional VMS

A ________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user. A) product line B) product delivery network C) marketing channel D) consumer base E) resource bank

Amazon.com, eBay, and GEICO approach customers via Web sites or mobile apps. This is an example of ________. A) mass marketing B) guerrilla marketing C) direct marketing D) multi-level marketing E) ambush marketing

An IKEA ad shows consumers creating fanciful room designs with IKEA furniture, such as "a bedroom for a queen made by Bree and her sister, designed by IKEA." Which of the following message execution styles is illustrated in this example? A) mood or image B) musical C) fantasy D) lifestyle E) personality symbol

An ideal price policy scenario for retailers would be to achieve ________ while charging ________. A) low volume; high markups B) low volume; low markups C) high volume; high markups D) high volume; low markups E) high volume; zero markups

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor is called ________. A) sales promotion B) direct marketing C) advertising D) personal selling E) public relations

At Neiman Marcus, a first-class department store, customers shop for high-end products and they are assisted in every phase of the shopping process. Neiman Marcus is a ________. A) self-service retailer B) limited-service retailer C) full-service retailer D) specialty store E) superstore

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) consistency D) creativity E) flexibility

Jason has been recently hired as a salesperson by Matrix Inc., a company selling consumer durables. He is currently working on his first sales assignment. After identifying a good prospect, Jason is now learning everything about his prospect via online sources and common acquaintances. Which of the following stages of the selling process is Jason in? A) follow-up B) handling objections C) preapproach D) presentation E) prospecting

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) displacement C) image D) activation E) placement

McDonald's, Subway, and Pizza Hut are all examples of ________. A) voluntary chains B) retailer cooperatives C) franchises D) category killers E) power centers

The New Age Gallery has three admission prices for students, adults, and seniors, even though all three groups are entitled to the same services. This form of pricing is called ________. A) psychological pricing B) product-form pricing C) customer-segmented pricing D) captive product pricing E) by-product pricing

The early ________ cut expenses by offering few services and operating in warehouse-like facilities in low-rent, heavily traveled districts. A) department stores B) hypermarkets C) discount stores D) supermarkets E) full-service retailers

The simplest pricing method is ________ pricing. A) value-based B) fixed cost C) cost-plus D) target return E) competition-based

Under a team-based new-product development approach, ________. A) a single departmental team works to complete different stages of the process before passing the new product along to the next department and stage B) the organizational tension and confusion is less than under the sequential approach C) company departments work closely together in cross-functional teams D) a bottleneck at one phase can seriously delay an entire project E) the new product passes from one department to another before finalizing

When McDonald's and other fast food restaurants offer "value menu" items at surprisingly low prices, they are most likely using ________. A) break-even pricing B) target profit pricing C) good-value pricing D) cost-plus pricing E) target return pricing

When a company customizes its merchandise store by store to meet shopper needs, it is practicing ________. A) niche marketing B) mass marketing C) local marketing D) segmented marketing E) trigger-based marketing

When a competitor cuts its price, a company should ________ if it believes it will not lose much market share or would lose too much profit by cutting its own prices. A) reduce its production costs B) reduce its marketing costs C) maintain its current prices and profit margin D) increase its marketing budget to raise the perceived value of the product E) increase its production costs to improve the quality of the product

When amusement parks charge customers for admission and later for food and beverages, they are following a ________ pricing strategy. A) by-product B) product line C) two-part D) skimming E) penetration

When sellers set prices after talking to competitors and engaging in collusion, they are involved in ________. A) interstate commerce B) comparative pricing C) price fixing D) skimming pricing E) price bundling

Which of the following is the most likely reason that employees regularly attend trade shows and seminars? A) to analyze the product life cycle B) to test new-product concepts C) to get new-product ideas D) to imitate competitors' products and strategies E) to implement a team-based new-product development approach

Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new-product innovation process? A) brainstorming B) idea screening C) crowdsourcing D) outsourcing E) concept testing

Which of the following is true about online direct marketing? A) Online direct marketing is also referred to as multi-level marketing. B) Salespersons are compensated for other salespeople they recruit. C) Online direct marketing results in speedier handling of channel and logistics functions. D) Online direct marketing involves two or more intermediaries. E) In online direct marketing, outside and inside sales forces coordinate to provide value

Which type of retailer usually carries more specialty goods at high prices and is more likely to provide customers with assistance in every phase of the shopping process? A) self-service retailer B) limited-service retailer C) full-service retailer D) independent retailer E) off-price retailer

With a(n) ________ marketing strategy, a firm goes after a large share of one or a few smaller niches. A) individual B) mass C) concentrated D) differentiated E) local

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. A) Shopping products B) Unsought products C) Specialty products D) Capital items E) Convenience products

________ are consumer products that the consumer either does not know about or knows about but does not normally think about buying. A) Specialty products B) Convenience products C) Unsought products D) Shopping products E) Capital items

________ are large and highly automated warehouses designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible. A) Loading docks B) Open warehouses C) Distribution centers D) Shipping platforms E) Product platforms

________ includes sales presentations, trade shows, and incentive programs. A) Direct marketing B) Sales promotion C) Personal selling D) Public relations E) Advertising

________ involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for effort and risk. A) Value-based pricing B) Competition-based pricing C) Cost-based pricing D) Penetration pricing E) Break-even pricing

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought. A) Service inseparability B) Service variability C) Service intangibility D) Service perishability E) Service heterogeneity

A pharmaceutical company in Utah recently released a new and expensive anti-ulcer drug in the market. The company justifies the high price of the drug by claiming that it is highly effective for treating all kinds of ulcers. The company also claims that the new drug will help bring down the need for invasive surgeries, an additional benefit for patients. Which of the following pricing strategies is the pharmaceutical company most likely using in this instance? A) target pricing B) markup pricing C) cost-based pricing D) value-based pricing E) break-even pricing

A segment is less attractive if ________. A) it is difficult for new entrants to enter B) it is substantial C) it is actionable D) it already contains many strong and aggressive competitors E) it contains weak suppliers

Among the buyer-readiness stages, the first stage is ________. A) preference B) knowledge C) liking D) awareness E) insistence

If Detroit DLX charges the same price for the delivery of its product to customers located within the Great Lakes states, but a different price to customers elsewhere, the company is using ________. A) psychological pricing B) promotional pricing C) reference pricing D) zone pricing E) uniform-delivered pricing

If a company ________, it should adopt a product sales force structure, in which the sales force specializes along product lines. A) specializes in a single product B) manufactures a small number of simple products C) maintains that product specialization is counter productive D) has numerous and complex products E) lacks salespeople with superior technical know-how

In an effort to differentiate its offerings from its competitors, Pegasus Computers decided to add an extra USB port in all its laptops besides providing a free pair of Delphi power bass headphones with every Pegasus laptop. Although the additional features increased the price of the laptops by $500, Pegasus was confident that the strategy would help boost demand for its laptops substantially. This is an example of ________. A) good-value pricing B) markup pricing C) break-even pricing D) value-added pricing E) cost-based pricing

In order to avoid shortsightedness, today marketers are moving toward viewing communications as managing the ________ over time. A) organizational culture B) nonpersonal communication channels C) word-of-mouth influence D) customer relationship E) product life cycle

The decisions about reach, frequency, and impact of an advertisement fall into the category of ________ decisions. A) sales objectives B) budget C) message D) media E) advertising evaluations

Which form of geographic pricing is a company using when it charges the same rate to ship a product anywhere in the United States? A) FOB-origin pricing B) psychological pricing C) zone pricing D) uniform-delivered pricing E) basing-point pricing

Which of the following companies uses a direct marketing channel? A) Fishhooks, a factory which manufactures fishing equipment that it ships to hobby stores worldwide B) Germfight, a factory which manufactures dental products that it distributes only to select department stores C) Apple Blossoms, a company that sells its cosmetics exclusively through Ray's Retail Store D) Holly Wreaths, a store which sells Christmas ornaments to customers via its online click-to-order catalogs E) Showdown, a clothing store that stocks merchandise from different international brands

Which of the following is NOT a type of off-price retailer? A) independent B) factory outlet C) warehouse club D) category killer E) wholesale club

Which of the following would be considered a service retailer? A) factory outlets B) supermarkets C) jewelry stores D) restaurants E) gas stations

________ are retailers that offer sales assistance because they carry more shopping goods about which customers might need information. A) Self-service retailers B) Full-service retailers C) Off-price retailers D) Limited-service retailers E) Specialty-service retailers

A pharmaceutical ad features a world-renowned heart surgeon describing the benefits of the medication. Which of the following message execution styles is illustrated in this example? A) mood or image B) fantasy C) personality symbol D) musical E) testimonial evidence

What is the most likely reason that direct-response television marketing has increased in recent years? A) uses of social media B) shifts in demographics C) increases in global demand D) changes in FTC legislation E) advancements in technology

Which of the following is an external source for new-product ideas? A) project managers B) engineers C) salespeople D) manufacturing staff E) suppliers

Which of the following most likely requires the smallest advertising budget? A) products in competitive markets B) undifferentiated brands C) new products D) low-share brands E) mature brands

________ segmentation divides the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation. A) Geographic B) Benefit C) Occasion D) Psychographic E) Demographic

Many companies use several ethnically specific themes in their mainstream marketing strategy. This is because several marketers have realized that insights gleaned from ethnic consumers can influence their broader markets. This type of marketing is known as ________. A) cross-cultural marketing B) buzz marketing C) social media marketing D) ambush marketing E) ethical marketing

Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities—that is, "we are what we consume." According to this premise, consumers ________. A) buy products to support their self-images B) rarely identify with brand personalities C) are affected by opinion leaders D) compare product brands E) conduct primary research

Opinion leaders are also referred to as ________. A) influentials B) lower uppers C) innovators D) laggards E) surrogate consumers

Rudolf Technologies Inc. decided to enter the automobile service market. Consequently, it decided to procure the tools and machines required for servicing cars from a reputed supplier. Rudolf Technologies is facing ________. A) a new task situation B) a modified rebuy situation C) negative competition D) the need to outsource its primary service offering E) the pressure to diversify its market

Solutions selling ________. A) is often a key business marketing strategy for winning and holding accounts B) refers to a business buying situation in which the buyer purchases a product or service for the first time C) refers to a business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers D) is equivalent to cold calling E) refers to a business buying situation in which the buyer routinely reorders something without any modifications

The business marketer normally deals with ________ than the consumer marketer does. A) far fewer but far larger buyers B) far more but far smaller buyers C) negligible customer complaints D) far less fluctuations in demands E) far more elastic demand

The buying decision process starts with ________, in which the buyer spots a problem. A) need recognition B) information search C) impulse purchases D) buyer's remorse E) alternative evaluation

What is the most important consumer buying organization in society? A) family B) social class C) membership group D) subculture E) reference group

Worthington's Farm is an old poultry farm in Mount Prospect, Illinois. For years, it has used wooden coops to haul its poultry to the market. The owner of the farm needs to buy some replacement coops and is considering buying plastic coops that are slightly more expensive than wooden ones but much easier to clean after use. Consequently, the owner of Worthington's Farm ordered 100 customized coops from its regular supplier. This exemplifies ________. A) a modified rebuy B) a new task C) a straight rebuy D) derived demand E) composite demand

A marketer wanting to determine business buyer behavior is most likely to ask which of the following questions? A) Are buyers sensitive toward price changes in consumer markets? B) What are the major influences on buyers? C) Are niche markets more profitable than mass markets? D) How do interpersonal factors affect organizational performance? E) Is the role of gatekeepers relevant in the international business environment?

A marketing research company asked members of a focus group to describe several brands as animals. This is an example of ________. A) brand strength analysis B) interpretive consumer research C) quantitative research D) buzz marketing E) brand extension

A nurse in a hospital told the chief dentist, Dr.Albrecht, that the hospital should purchase equipment that would sterilize the dentists' tools without using any water because water tends to affect the durability of the tools over time. Dr. Albrecht located some articles on chemical sterilizers and gathered more information on how they worked. After talking to salespeople, Dr. Albrecht finally placed his order for the machine. In this instance, Dr. Albrecht played the role of a(n) ________. A) monitor B) decider C) agent D) influencer E) gatekeeper

A shoe manufacturing company uses ads featuring the members of a country music band with the hope that the band's fans will see them wearing the company's shoes and hence purchase the same brand of shoes. The shoe company believes that the band portrays the image of a ________ to the band's fans. A) membership group B) reference group C) status symbol D) subculture E) lifestyle

According to the model of buyer behavior, which of the following is one of the two primary parts of a "buyer's black box"? A) technological stimuli B) buyer's decision process C) buyer's spending habits D) social stimuli E) promotion stimuli

Almost all major purchases result in ________, or discomfort caused by postpurchase conflict. A) need recognition B) cognitive dissonance C) consumer ethnocentrism D) conspicuous consumption E) consumer capitalism

Family is one of the ________ factors that influence consumer behavior. A) regional B) social C) personal D) psychological E) business

Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned about ________. A) alternative evaluation B) subliminal advertising C) selective retention D) cognitive dissonance E) selective communication

The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________. A) situational analysis B) business buying process C) business diversification D) business process automation E) lateral expansion

The decision-making unit of a purchasing organization is called its ________. A) value chain B) buying center C) customer support system D) quality center E) innovation center

When consumers are highly involved with the purchase of an expensive product and they perceive significant differences among brands, they most likely will exhibit ________. A) consumer capitalism B) complex buying behavior C) consumer ethnocentrism D) dissonance-reducing buying behavior E) variety-seeking buying behavior

Which of the following is one of the other stimuli present in a buyer's environment apart from a marketing stimuli? A) product stimuli B) cultural stimuli C) price stimuli D) place stimuli E) promotion stimuli

Which of the following statements is true of cultural factors that influence consumer behavior? A) Cultural influences on buying behavior are identical across countries. B) Social classes show distinct product and brand preferences in areas such as clothing and travel. C) Subcultures include nationalities and racial groups, but exclude religions. D) Subcultures are groups within which each individual has a unique and distinct value system. E) Hispanic Americans and African Americans are examples of racially-segregated groups and not subcultures.

________ refer to people in an organization's buying center who affect the buying decision; they often help define specifications and provide information for evaluating alternatives. A) Users B) Influencers C) Buyers D) Gatekeepers E) Deciders

Business markets are similar to consumer markets in that ________. A) the nature of the buying unit is the same for both B) the decision processes involved in both the markets are same C) both involve people who assume buying roles and make purchase decisions to satisfy needs D) both share the same market structure E) the types of decisions are fairly consistent in both the markets

Calypso Motors recently rolled out its hatchback, Proteus. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here? A) gender segmentation B) income segmentation C) benefit segmentation D) geographic segmentation E) age and life-cycle segmentation

Companies that use brand ambassadors are most likely involved in ________ marketing. A) ambush B) spam C) buzz D) viral E) database

Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations. A) cultural universals B) reference groups C) subcultures D) monocultures E) social networks

Gina Parker owns an ad agency in Baton Rouge. She regularly purchases cleaning supplies for her custodial staff, using the same vendor and ordering relatively consistent amounts of the same products on each purchase. This is an example of ________. A) a modified rebuy situation B) a new task C) a straight rebuy situation D) reverse auction E) product differentiation

Juana looked at the September issue of her favorite fashion magazine and did not find anything particularly interesting despite the fact that the magazine had several advertisements that were targeted at Juana's demographic. The only thing that interested her was an article about an upcoming fashion show. Which consumer behavior is being illustrated in this instance? A) subliminal advertising B) groupthink C) selective attention D) social loafing E) consumer ethnocentrism

The ________ Web site provides a single point of entry through which commercial vendors and government buyers can post, search, monitor, and retrieve opportunities solicited by the entire federal contracting community. A) U.S. Small Business Administration B) Center for Regulatory Effectiveness C) Federal Business Opportunities D) Federal Civil Defense Authority E) U.S. Commerce Department

The buyer decision process consists of five stages. Which of the following is NOT one of these stages? A) need recognition B) information search C) conspicuous consumption D) purchase decision E) postpurchase behavior

Which of the following consumer buying behaviors is related to conditions of low-consumer involvement and little significant brand difference? A) complex buying behavior B) dissonance-reducing buying behavior C) habitual buying behavior D) variety-seeking buying behavior E) consumer capitalism

In the model of buyer behavior, which of the following is NOT a major type of force or event in the buyer's environment? A) economic B) technological C) social D) political E) cultural

A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction. A) stimulus B) perception C) culture D) motive E) tradition

A(n) ________ controls the flow of information to others in the buying center. A) user B) influencer C) buyer D) gatekeeper E) decider

A(n) ________ is a person's relatively consistent evaluations, feelings, and tendencies toward an object or idea. A) lifestyle B) motive C) belief D) attitude E) perception

According to a customer, a Harley-Davidson motorcycle can make one feel like "the toughest, macho guy on the block." Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a(n) ________. A) motive B) life-cycle stage C) self-concept D) brand personality E) self-actualization need

Double Drill Inc. segments its foreign markets by per capita income. This firm segments the international markets based on ________. A) political factors B) legal factors C) geographic location D) economic factors E) cultural factors

In a ________ situation, the "in" suppliers may become nervous and feel pressured to put their best foot forward to protect an account and the "out" suppliers may see the present situation as an opportunity to make a better offer and gain new business. A) straight rebuy B) new task C) reverse auction D) modified rebuy E) solutions selling

Marissa Hopkins, a hospital nurse, notices that the gurneys used in the hospital are not durable enough. She informed the hospital authorities about Grace Care Inc., a new company selling lightweight and durable gurneys. In this instance, Marissa played the role of a(n) ________. A) strategist B) buyer C) gatekeeper D) influencer E) decider

Marketers who use ________ often segment their markets by consumer lifestyles and base their marketing strategies on lifestyle appeals. A) demographic segmentation B) geographic segmentation C) benefit segmentation D) psychographic segmentation E) occasion segmentation

People cannot focus on all of the stimuli that surround them each day. A person's tendency to screen out most of the information to which he is exposed is called ________. A) subliminal retention B) selective distortion C) cognitive dissonance D) selective attention E) cognitive inertia

When consumers are highly involved with an expensive, infrequent, or risky purchase but see little difference among brands, they most likely will exhibit ________. A) habitual buying behavior B) complex buying behavior C) impulse buying behavior D) dissonance-reducing buying behavior E) consumer capitalism

When customers have a low involvement in a purchase but perceive significant brand differences, they will most likely engage in ________. A) complex buying behavior B) dissonance-reducing buying behavior C) habitual buying behavior ) variety-seeking buying behavior E) consumer ethnocentrism

________ refers to the unique psychological characteristics that distinguish an individual or group. A) Groupthink B) Belief C) Perception D) Personality E) Self-awareness

A university enrolled 200 graduate students in the Fall of 2011. However, the enrollment rate was only slightly affected following a 12 percent hike in tuition the following Fall. This illustrates a(n) ________ demand. A) derived B) negative C) highly elastic D) composite E) inelastic

Marketing stimuli consist of the four Ps. Which of the following is NOT one of these? A) product B) packaging C) price D) promotion E) place

________ calls for dividing the market into regions, states, counties, cities, or even neighborhoods. A) Benefit segmentation B) Geographic segmentation C) Demographic segmentation D) Psychographic segmentation E) Occasion segmentation

________ segmentation divides buyers into different segments based on social class, lifestyle, or personality characteristics. A) Benefit B) Occasion C) Geographic D) Demographic E) Psychographic

Consumers learn about new products for the first time and make the decision to buy them during the ________. A) need recognition stage B) adoption process C) evaluation process D) trial process E) quality assessment stage

Consumers who show their allegiance to brands, stores, or companies help marketers to segment consumers by their ________. A) user status B) degree of loyalty C) income D) geographic location E) benefit-seeking attitudes

________ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A) Mass customization B) Positioning C) Segmentation D) Differentiation E) Targeting

________ involves actually distinguishing the firm's market offering to create superior customer value. A) Mass customization B) Differentiation C) Market segmentation D) Diversifying E) Targeting

________ is the process by which people select, organize, and interpret information to form a meaningful picture of the world. A) Motivation B) Perception C) Dissonance D) Learning E) Self-actualization

________ means that consumers are likely to remember good points made about a brand they favor and forget good points made about competing brands. A) Selective attention B) Selective retention C) Cognitive dissonance D) Selective distortion E) Cognitive bias

________ refers to qualitative research designed to probe consumers' hidden, subconscious motivations. A) Perception analysis B) Subliminal analysis C) Motivation research D) Need recognition E) Market segmentation

Which of the following is true about multivariable segmentation systems? A) Marketers using multiple segmentation bases tend to ignore smaller markets. B) Marketers often use multiple segmentation bases to control inflation. C) Multiple segmentation rarely involves the use of demographic data. D) Multiple segmentation is ineffective in large markets. E) Multiple segmentation bases help identify smaller, better-defined target groups.

Which of the following is a significant challenge presented by the product life cycle? A) new-product development B) static tastes and zero competition C) anti-trust laws D) measurement of results E) plotting the stages as a product goes through them

Which of the following is an off-price retailer that sells a limited selection of brand-name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees? A) warehouse club B) service retailer C) convenience store D) hypermarket E) superstore

After searching extensively for vendors, Mike Miller, the owner of a manufacturing firm, selected Texcom Technologies Inc. as his firm's primary supplier of bearings and shafts of a specific dimension. Mike is currently preparing an order form that specifies the number of shafts needed and the expected time of delivery. In other words, he is preparing the ________. A) order routine specification B) general needs description C) product specification D) marketing mix E) product mix

All the individuals and households that buy or acquire goods and services for personal consumption make up the ________. A) consumer market B) market offering C) market mix D) subculture E) social class

Business demand that ultimately comes from the demand for consumer goods is known as ________ demand. A) derived B) negative C) primary D) latent E) elastic

By definition, ________ is used when a firm sells a product or service at two or more prices, even though the difference in price is not based on differences in cost. A) segmented pricing B) variable pricing C) flexible pricing D) cost-plus pricing E) reference pricing

Comparative advertising is also known as ________ advertising. A) attack B) institutional C) covert D) reminder E) informative

Consumers today receive commercial messages from a broad range of sources. However, consumers ________ the way marketers do. A) don't distinguish between message sources B) never pay attention to sales promotions C) don't care about buzz marketing D) are not able to block out messages E) block out all media messages

Different soft drinks target different personalities. This is an example of ________ segmentation. A) psychographic B) demographic C) occasion D) life-cycle E) benefits

Florian Fasteners recently introduced a new line of products. In order to promote its product, it sent samples to the addresses of a few select customers. Which of the following types of marketing is evident from this example? A) direct-mail marketing B) telephone marketing C) direct-response TV marketing D) mobile marketing E) kiosk marketing

Generation Xers, who were born between 1965 and 1976, share the childhood experiences of higher parental divorce rates, recession, and corporate downsizing. They tend to care about the environment and value experience over acquisition. Generation Xers make up a ________. A) subculture B) social class C) social network D) life-cycle stage E) lifestyle

In a straight rebuy, ________. A) the "in" suppliers try to maintain product and service quality to keep the business B) the "in" suppliers feel pressured to protect an account C) the "out" suppliers view the situation as an opportunity to gain new business D) a company buys a product or a service for the first time E) buyers are keen on revising product specifications

Morrill Motors splits the United States of America into 10 sales regions. Within each of those regions, the company has separate sales personnel selling the company's full line of products. Which sales force structure does Morrill Motors use? A) territorial B) complex C) customer D) product E) market

Product mix ________ refers to the total number of items a company carries within its product lines. A) length B) depth C) height D) width E) consistency

Product placement in television programs and movies is an example of ________. A) branded entertainment B) advertainment C) direct marketing D) buzz marketing E) sales promotion

Tone Zone plans to introduce four mp3 player models over the next year. These models range from basic players at $99 per unit, to more sophisticated players at $399 per unit. The more features a model has, the more expensive it is. What pricing strategy is Tone Zone using for its range of mp3 players? A) product line pricing B) product bundle pricing C) captive product pricing D) by-product pricing E) optional product pricing

Underpriced products ________. A) produce less revenue than they would if they were priced at the level of perceived value B) sell poorly in the global marketplace C) produce more revenue than they would if they were priced at the level of perceived value D) mostly offer higher value than those with a high markup price E) are characterized by rapidly declining demand

When Procter & Gamble (P&G) developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser? A) informative advertising B) persuasive advertising C) reminder advertising D) developmental advertising E) comparative advertising

When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the ________ pricing strategy. A) market-skimming B) cost-plus C) market-segmentation D) market-penetration E) competitive

When the seller allows only certain outlets to carry its products, this strategy is called ________. A) exclusive distribution B) subjective dealing C) selective distribution D) exclusive pricing E) disintermediation

Which message execution style involves presenting survey data indicating that a brand is better than other brands? A) scientific evidence B) testimonial evidence C) endorsement D) technical expertise E) slice of life

Which of the following brands most likely requires heavy advertising in order to be set apart from similar products? A) undifferentiated brands B) specialty brands C) international brands D) mature brands E) high-share brands

Which of the following categories in the customer database includes information on customers' age, income, and birthdays? A) demographic data B) psychographic data C) geographic data D) buying behavior data E) census data

Which of the following is a common reason for new product failure? A) incorrect estimation of the market size B) low product development costs C) ineffective social marketing campaigns D) low selling prices of products E) patent ownership exclusively held by the company

Display media includes ________. A) newspapers B) magazines C) television D) company Web sites E) billboards

Which of the following is most likely true of marketing channel decisions? A) They often involve long-term commitments to other firms. B) They have minimal influence on the prices of products offered to customers. C) They increase the amount of time a company spends connecting with customers. D) The increase the amount of effort a company puts in to distribute goods. E) They are easily altered, replaced, or discarded.

Which of the following is one of the primary goals of reminder advertising? A) maintain customer relationships B) build brand preference C) correct false impressions D) inform the market of a price change E) restore company image

Which of the following is true about business purchases? A) Business purchases involve more professional purchasing effort than consumer purchases. B) Business purchases involve less participants in decision making compared to consumer purchases. C) Purchasing agents are absent in business purchases. D) Business purchases involve less technical and economic considerations compared to consumer purchases. E) Business purchases are usually quicker and more informal than are consumer purchases.

Which of the following is true of value-based pricing? A) The targeted value and price drive decisions about what costs can be incurred and the resulting product design. B) Value-based pricing is mostly product driven. C) Value-based pricing involves setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for its effort and risk. D) The marketer usually designs a product and marketing program and then sets the price. E) A company using value-based pricing designs what it considers to be a good product, adds up the costs of making the product, and sets a price that covers costs plus a target profit.

Which of the following is true of vertical marketing systems? A) Producers, wholesalers, and retailers act as a unified system. B) Channel members have no control over each other. C) Channel conflict is governed by informal mechanisms. D) The system is dominated by the consumer. E) Channel members work independently with no cooperation from other members.

Which of the following is true with regard to personal selling? A) Personal selling entails personal presentations by a firm's sales force for the purpose of making sales and building customer relationships. B) Personal selling involves making personal requests to potential buyers to enter into short-term business relationships with firms. C) Personal selling distances the buyer from the seller and does not focus on building enduring relationships. D) An outside sales force is not involved in personal selling. E) Personal selling is a relatively new profession.

Which of the following promotion categories is most likely to include the use of displays, discounts, coupons, and demonstrations? A) sales promotion B) direct marketing C) horizontal diversification D) public relations E) advertising

Which of the following stages of the PLC is characterized with the same level or slightly higher level of promotional expenditures in an attempt to respond to increasing competition? A) growth B) decline C) maturity D) product development E) adoption

Which of the following would most likely improve coordination between marketing and sales? A) Salespeople should participate in marketing planning sessions by sharing firsthand customer knowledge. B) Salespeople should directly participate in the development of new products. C) The sales force should strategize promotional strategies and be the primary decision makers about marketing. D) Marketing managers should field test new promotion strategies before the sales team. E) The marketing and the sales departments should conduct annual job rotations.

Which term refers to an in-store machine that allows a customer to order merchandise not carried in the store? A) kiosk B) automated teller machine C) virtual catalog D) interactive TV E) direct-response device

Which type of store carries a deep assortment of a particular product line, has knowledgeable staff, and can be viewed as a giant specialty store? A) category killer B) convenience store C) factory outlet D) warehouse club E) off-price retailer

With which of the following strategies would a company give only a limited number of dealers the right to distribute its products in their territories? A) exclusive distribution B) extensive distribution C) moderate distribution D) primary distribution E) intensive distribution

________ allowances are payments or price reductions that reward dealers for participating in advertising and sales support programs. A) Promotional B) Trade-in C) Segmented D) Functional E) Dynamic

________ are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. A) Shopping products B) Convenience products C) Unsought products D) Capital items E) Supplies and repair services

________ are people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others. A) Opinion leaders B) Innovators C) Surrogate consumers D) Stealth marketers E) Laggards

________ involves systematically developing networks of supplier-partners to ensure a dependable supply of products and materials for use in making products or reselling them to others. A) Supplier development B) Backsourcing C) Supplier quality assurance D) Corporate recovery E) Executive development

________ is the most basic determinant of a person's wants and behavior. A) Culture B) Brand personality C) Cognitive dissonance D) Caste E) Selective perception

________ refers to buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation. A) Systems selling B) Outsourcing C) Insourcing D) Cold calling E) Direct marketing

________ segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product. A) Behavioral B) Psychographic C) Age and life-cycle D) Gender E) Geographic

A ________ integrates successive stages of production and distribution under single ownership. A) contractual VMS B) corporate VMS C) contingency VMS D) conventional VMS E) communal VMS

A ________ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer. A) product platform B) channel level C) resource bank D) contact center E) customer franchise

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years. A) laggard B) decline C) maturity D) growth E) incubation

All of the following are forms of direct marketing EXCEPT ________. A) personal selling B) point-of-purchase promotion C) telemarketing D) direct-mail marketing E) kiosk marketing

An attractive product idea must be developed into a ________. A) concept alternative B) product concept C) brand personality D) brand placement E) product strategy

Cellpoint uses two-part pricing for its long-distance call charges. Because this is a service, the price is broken into a fixed fee plus a(n) ________ rate. A) fixed usage B) variable usage C) standard usage D) market usage E) optional usage

George is buying his first house. He has spent a month looking at houses and comparing them on attributes such as price and location. He has contacted several real estate agents to look at different types of houses. George is most likely exhibiting ________. A) variety-seeking buying behavior B) complex buying behavior C) consumer capitalism D) dissonance-reducing buying behavior E) marketing myopia

Gilron Holidays runs a premium membership club which caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach. A) gender B) income C) occasion D) benefit E) geographic

In a(n) ________ channel, the same member both produces and distributes a product or service to consumers. A) tiered B) direct C) platform D) vertical E) exclusive

In a(n) ________, leadership is assumed not through common ownership or contractual ties but through the size and power of one or a few dominant channel members. A) horizontal marketing system B) administered VMS C) corporate VMS D) contractual VMS E) conventional VMS

In a(n) ________, two or more companies at one level join together to follow a new marketing opportunity. A) administered vertical marketing system B) horizontal marketing system C) corporate vertical marketing system D) hybrid distribution system E) conventional marketing system

In recent years, service differentiation among retailers has ________. A) increased at a steady rate B) decreased C) stayed the same D) increased exponentially E) tripled

In-store demonstrations, displays, sales, and loyalty programs are examples of ________. A) direct marketing B) sales promotion C) public relations D) personal selling E) affinity marketing

Market segments that can be effectively reached and served are ________. A) measurable B) accessible C) substantial D) actionable E) profitable

Maybelline used Sarah Michelle Gellar, an actress, to endorse a new range of cosmetics. This message execution style is referred to as ________. A) lifestyle B) testimonial evidence C) image D) technical expertise E) personality symbol

Midnight Magic, a perfume manufacturing company, plans to release a new fragrance during the holiday season at $99 per bottle. The company intends to bring the price down to $49 within six months of its release to attract buyers who couldn't afford the initial price. Which of the following pricing strategies is Midnight Magic using? A) market-penetration pricing B) market-skimming pricing C) competitive pricing D) cost-plus pricing E) product-line pricing

Papillon, a popular retailer of chic women's clothing, segments its market according to consumer lifestyles. Papillon most likely uses ________ for segmenting its market. A) geographic segmentation B) psychographic segmentation C) benefit segmentation D) age and life-cycle segmentation E) occasion segmentation

Product improvements, product modifications, and original products can all be classified as ________. A) blueprints B) new products C) prototypes D) product extensions E) test products

Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of ________. A) competition-based pricing B) everyday low pricing C) cost-plus pricing D) break-even pricing E) penetration pricing

Robin works in a manufacturing company in Ohio. She sells products and handles customer requests via the company's online live chat feature. In her company, Robin is most likely a part of the ________. A) outside sales force B) inside sales force C) product designing team D) operations management team E) executive management

Segmented pricing is only effective when ________. A) the segments show similar degrees of demand B) the cost of segmenting does not exceed the revenue obtained from the price difference C) the segmented prices do not reflect real differences in customers' perceived value D) the customers of different socio-economic classes are treated according to their rank E) companies make their services and products accessible exclusively to wealthy patrons

Skoda used a hard rock version of Julie Andrews' track "My Favorite Things" by the band Sound Tree to promote the new model of Fabia. Which of the following message execution styles is illustrated in this example? A) personality symbol B) musical C) fantasy D) lifestyle E) slice of life

The Internet offers ________, where the price can easily be adjusted to meet changes in demand. A) captive pricing B) dynamic pricing C) basing-point pricing D) price bundling E) cost-plus pricing

The ________ seeks to prevent unfair price discrimination by ensuring that sellers offer the same price terms to customers at a given price level. A) RICO Act B) Robinson-Patman Act C) Sherman Act D) Clayton Act E) Celler-Kefauver Act

The discount offered by Glamor Gifts to customers who bought Valentine-themed merchandise the week following Valentines Day is an example of a ________. A) functional discount B) seasonal discount C) trade discount D) cash discount E) time-based discount

The first step in creating effective advertising messages is ________. A) selecting specific media vehicles B) planning a message strategy C) determining return on advertising investment D) choosing media timing E) executing the message

The sets of firms that supply companies with the raw materials, components, parts, information, finances, and expertise needed to create products or services are known as ________. A) retailers B) upstream partners C) distributors D) downstream partners E) distribution channels

To carefully integrate and coordinate the company's many communications channels to deliver a clear, consistent, and compelling message about the organization and its products, some companies appoint a(n) ________. A) idea champion B) marketing communications director C) sales representative D) business analyst E) media planner

Which of the following is true with regard to services? A) Services refer to purely tangible products. B) Services are a form of product that consists of activities, benefits, or satisfactions offered for sale. C) Services can be stored for later use. D) Services can be easily separated from their providers. E) Services are tangible product offerings whose quality can be easily measured.

Which of the following is true with regard to value selling? A) Value selling refers to earning business from customers by cutting down prices of value products. B) Value selling refers to delivering superior customer value and capturing a fair return on that value. C) Value selling refers to the mass production of inferior-quality goods for sale. D) Value selling dilutes customer loyalty in the long run. E) Value selling tarnishes the brand image of a product in the long run.

Which of the following stages in the new-product development would a firm engage itself in immediately after the completion of concept testing? A) idea screening B) marketing strategy development C) business analysis D) product development E) idea generation

Which of the following stages of the new-product development process occurs immediately after the completion of the business analysis for the product or service? A) idea screening B) product development C) product activation D) marketing strategy development E) product design

Which of the following statements best represents a contractual association between a manufacturer, wholesaler, or service organization and independent businesspeople who buy the right to own and operate one or more units in the system represented by the contract? A) corporate chain B) franchise C) voluntary chain D) retailer cooperative E) warehouse club

Which of the following statements is true of the new-product development process? A) The purpose of the idea screening stage is to create a large number of ideas. B) Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage. C) A product concept is the way consumers perceive an actual or potential product. D) The concept testing stage is the stage at which the product and its proposed marketing program are introduced into realistic market settings. E) Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new-product innovation process.

Which of the following terms refers to the wholesalers and retailers that form a vital link between the firm and its customers? A) factory-supply networks B) downstream partners C) resource banks D) upstream partners E) supply channels

Which of the following types of marketing involves marketers sending out letters, brochures, samples, and DVDs to consumers' address? A) direct-response marketing B) direct-mail marketing C) direct digital marketing D) kiosk marketing E) online marketing

Which of the following would be the most likely result of slashing ad spending for a product? A) increased popularity B) reduced long-term market share C) improved brand image D) increased short-term sales E) increased long-term market share

Which term refers to the general idea that will be communicated to consumers through an advertisement? A) advertising appeal B) message strategy C) consumer-generated message D) creative concept E) message execution

Which type of retailer is most likely to require its employees to focus most on assisting customers as they shop? A) self-service retailer B) full-service retailer C) off-price retailer D) limited-service retailer E) convenience retailer

Which type of store carries a wide variety of product lines and has been squeezed in recent years between more focused and flexible specialty stores on the one hand and more efficient, lower-priced discounters on the other? A) warehouse clubs B) department store C) factory outlet D) merchant wholesaler E) category specialist

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.

Why does direct-mail marketing most likely remain a popular promotional tool for marketers? A) It does not disturb consumers enrolled in the Do Not Call Registry. B) It provides something tangible for people to keep. C) It builds long-term customer relationships. D) It involves very low marketing costs. E) It reaches the consumer very quickly.

________ consists of activities undertaken to create, maintain, or change attitudes toward particular people. People ranging from presidents, entertainers, and sports figures to professionals such as doctors, lawyers, and architects use it to build their reputations. A) Corporate image marketing B) Person marketing C) Social marketing D) Organization marketing E) Place marketing

________ consists of activities undertaken to create, maintain, or change the attitudes and behaviors of target consumers toward an organization. A) Social networking B) Organization marketing C) Niche marketing D) Puffery E) Organizational learning

________ distribution involves the use of more than one but fewer than all of the intermediaries who are willing to carry a company's products. A) Exclusive B) Selective C) Intensive D) Indirect E) Corporate

________ distribution is a strategy in which producers of convenience products and raw materials stock their products in as many outlets as possible. A) Direct B) Intensive C) Inclusive D) Exclusive E) Selective

________ includes all the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. A) Franchising B) Retailing C) Brokering D) Wholesaling E) Disintermediation

________ involves using in-store promotions and advertising to extend brand equity to "the last mile" and encourage favorable point-of-purchase decisions. A) Ambush marketing B) Shopper marketing C) Bait-and-switch advertising D) Affinity marketing E) Narrowcasting

________ is a type of service offered by those retailers who serve customers that are willing to perform their own "locate-compare-select" process in order to save money. A) Limited-service B) Self-service C) Full-service D) Specialty-service E) Wholesaling

________ management calls for selecting, managing, and motivating individual channel members and evaluating their performance over time. A) Inventory B) Marketing channel C) Brand image D) Customer experience E) Brand content

________ occurs when a company lengthens its product line beyond its current range. A) Product line filling B) Product line stretching C) Co-branding D) Niche marketing E) Market diversification

________ sell standard merchandise at lower prices by accepting lower margins and selling higher volume. A) Merchant wholesalers B) Discount stores C) Full-service retailers D) Limited-service retailers E) Factory outlets

A ________ is the way consumers perceive an actual or potential product. A) product idea B) product concept C) product image D) brand personality E) concept test

A company's total marketing communications mix consists of a special blend of advertising, sales promotion, public relations, personal selling, and direct-marketing tools that the company uses to communicate customer value and build customer relationships. Which of the following terms best describes this communications mix? A) the product mix B) product line filling C) the promotion mix D) the price mix E) horizontal diversification

A downward-sloping experience curve is indicative of ________. A) the negative customer perception about a company's products B) the falling demand for a company's products C) the falling unit production cost of a company D) the low quality of a company's products E) slow and inadequate organizational learning

A market-penetration pricing policy should LEAST likely be used for a new product when ________. A) the market is highly price sensitive B) production and distribution costs fall as sales volume increases C) the product's quality and image support a high price D) a high price helps keep out the competition E) there are few or no competitors in the market

A person's buying choices are influenced by four major psychological factors. Which of the following is NOT one of these factors? A) motivation B) perception C) association D) learning E) beliefs

A product idea is ________. A) the way consumers perceive an actual or potential product B) the knowledge and awareness of a product among consumers C) a possible product that the company can see itself offering to the market D) a detailed version of the new-product idea stated in meaningful consumer terms E) the testing of new-product concepts with groups of target consumers

A reputed cosmetic company in New York City added new product lines in order to increase its business. In other words, it ________. A) lengthened its existing product line B) decreased its product line consistency C) widened its product mix D) engaged in market diversification E) engaged in social marketing

A(n) ________ is a descriptive thought that a person has about something. A) lifestyle B) motive C) belief D) attitude E) cognition

A(n) ________ is a straight reduction in price on purchases during a stated period of time or of larger quantities. A) allowance B) free sample C) discount D) tax credit E) intromit

Advertising campaigns involving issues ranging from health care, education, and environmental sustainability to human rights and personal safety can be classified under ________. A) corporate image marketing B) internal marketing C) social marketing D) place marketing E) person marketing

All of the following are benefits of online direct marketing for buyers EXCEPT ________. A) access to numerous products B) access to product reviews C) live product demonstrations D) convenience and speed E) privacy

All of the following are disadvantages of team selling EXCEPT ________. A) selling teams can be confusing and overwhelming for customers B) salespeople who are used to having customers all to themselves may have trouble learning to work with and trust others on a team C) team selling reduces the overall efficiency of the selling process D) individual contributions and compensations can be difficult to assess in team selling E) team selling discourages individual contributors because the team receives credit for good performance

Amanda Perkins is a senior sales manager in Arlington Steelworks. As the customer base of her company has grown larger and more demanding over the last few years, Amanda insists on ________, or using groups of people from various departments such as, sales, technical support, engineering, and even upper management to service complex accounts. A) cross selling B) e-procurement C) team selling D) observational research E) vendor screening

Atlas Imports and Exports sells products directly to consumers via the Atlas Web site, and through local retailers as well. Which of the following is evident here? A) corporate vertical marketing system B) horizontal marketing system C) multichannel distribution system D) administered vertical marketing system E) conventional distribution channel

Big Mike's Health Food Store sells nutritional energy 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) time-based pricing B) seasonal pricing C) dynamic pricing D) promotional pricing E) penetration pricing

Brands in a market with many competitors and high advertising clutter must ________. A) have very high prices compared to competitors B) be advertised only through print and social media C) be advertised more heavily to be noticed in the marketplace D) never be advertised using informative advertising E) be advertised only during the mature stage of the product life cycle

Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ________. A) comparative pricing B) competitive pricing C) market-skimming pricing D) market-segmentation pricing E) cost-plus pricing

Companies often fail to integrate their various communications 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

Companies with lower costs ________. A) specialize in selling products with value-added features B) usually market products with inferior quality, thereby justifying the low selling price C) can set lower prices that result in smaller margins but greater sales and profits D) tend to overprice products owing to their monopolistic advantage E) usually set higher prices that result in higher margins

Daizy's is a shop which carries only plus-size clothing. According to this information, Daizy's differentiates itself from its competitors based on ________. A) service mix B) pricing C) product assortment D) store atmosphere E) distribution strategy

Department stores such as Kohl's and Macy's practice high-low pricing by ________. A) charging a constant, everyday low price B) providing few or no temporary price discounts C) increasing prices temporarily on select products D) having frequent sale days for store credit-card holders E) underpricing most consumer items

During the ________ step of the selling process, the salesperson tells the value story to the buyer, showing how the company's product or service solves the customer's problems. A) prospecting B) preapproach C) presentation D) closing E) follow-up

Electrowhip, a company that manufacturers blenders and electric whisks, has decided to use a market-penetration pricing strategy. Which of the following, if true, proves their decision to be a wise one? A) Electrowhip's competitors utilize social media for marketing their products. B) Electrowhip sells products whose image and quality support high prices. C) Electrowhip operates in a market with many competitors. D) Electrowhip does not operate in a price sensitive market. E) Electrowhip's products are intended to appeal to the elite in society.

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favorability with customers, is an example of a ________. A) style B) fashion C) fad D) norm E) subculture

If a large retailer sold numerous items below cost with the intention of punishing small competitors and gaining higher long-run profits by putting those competitors out of business, the retailer would be guilty of ________. A) price collusion B) price fixing C) predatory pricing D) competitive pricing E) penetration pricing

Independent Grocers Alliance, Do-It Best, Western Auto, and True Value are examples of ________. A) franchise organizations B) warehouse clubs C) voluntary chains D) category killers E) wholesale clubs

Kelly works as a sales representative at Ginner Machine Works. She uses the phone and the Internet to identify prospects and make sales. Kelly calls customers and explains the products offered by Ginner and the advantages of using them. If requested, she also mails the customer product information brochures. Which of the following is most likely Kelly involved in? A) benchmarking B) product development C) telemarketing D) innovation E) performance appraisal

Melissa Price is a member of the sales force at Urban Fashions, a Houston-based manufacturer of women's apparel. Melissa is preparing for a first meeting with a wholesaler who is a potential customer. She is learning as much as she can about her prospect and his organization. Melissa is in the ________ step of the personal selling process. A) prospecting B) qualifying C) preapproach D) follow-up E) demonstration

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 of the firm's models share the same specifications. What type of pricing does Multiprint use? A) product line pricing B) optional product pricing C) captive product pricing D) by-product pricing E) product bundle pricing

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

Plasticine Palace supplies its products exclusively to Arts & Crafts, a chain of stationery stores across the country. The chain then makes the plasticine available to end-consumers. This is an example of ________. A) a direct marketing channel B) intensive distribution C) an indirect marketing channel D) disintermediation E) extensive distribution

Product planners need to consider products and services on three levels. At the second level, product planners must ________. A) offer additional product support and after-sale services B) identify the core customer value that consumers seek from the product C) turn the core benefit into an actual product D) find out how they can create the most satisfying brand experience E) define the problem-solving benefits or services that consumers seek

Product planners need to consider products and services on three levels. Each level adds more customer value. The most basic level is the ________, which addresses the question, "What is the buyer really buying?" A) actual product B) augmented product C) core customer value D) co-branding E) exchange value

Rhodia invites tourists from all over the world to experience its pristine nature, clear skies, and beautiful summertime climate. This exemplifies ________. A) corporate image marketing B) social marketing C) place marketing D) social engineering E) negative brand equity

Sears, Target, and Kroger are examples of ________. A) voluntary chains B) retailer cooperatives C) corporate chains D) franchise organizations E) warehouse clubs

Sigma Inc., a software firm based in California, reordered 50 printers from the designated provider without any modifications. This is an example of ________. A) derived demand B) inelastic demand C) a straight rebuy D) a new task E) a modified rebuy

The Pure Drug Company produces insulin, a product with a very stable demand. Even though the price changed several times in the past two years, the demand for Pure Drug's insulin remained relatively unaffected. In this instance, the demand for insulin is representative of ________ demand. A) latent B) negative C) inelastic D) derived E) composite

The latest trend in the United States involves rediscovering the benefits of home-cooked food and the use of organic ingredients. People are choosing to spend hours in the kitchen using only the freshest ingredients to cook healthy and nutritious meals. This change in ________ is one of the reasons for the increasing demand for organic ingredients. A) self-concept B) subculture C) lifestyle D) personality E) life-cycle

What is the primary advantage of printed catalogs? A) filtering out interested prospects B) offering immediate rebates and coupons C) building emotional connections with customers D) offering unlimited space for merchandise details E) reaching consumers in a quick and inexpensive manner

What sets the ceiling for product prices? A) product manufacturing costs B) sellers' perceptions of the product's value C) customer perceptions of the product's value D) variable costs E) break-even volume

Which message execution style depicts average people using a product in an everyday setting? A) lifestyle B) scientific evidence C) slice of life D) personality symbol E) testimonial evidence

Which of the following best characterizes the decline stage of product development? A) rapid market acceptance B) slow sales growth C) sales and profits decline D) high investment costs E) increasing profits

Which of the following exemplifies a service? A) candy B) laptop C) retail D) car E) laundry detergent

Which of the following groups do marketers involve for the process of concept testing new products? A) suppliers B) employees C) target consumers D) manufacturers E) competitors

Which of the following is NOT part of Maslow's hierarchy of needs? A) physiological needs B) safety needs C) spiritual needs D) esteem needs E) social needs

Which of the following is NOT part of the business market? A) Kruger Group sells interior security systems to resorts. B) A country club buys safety equipment for its swimming pool. C) Sue shops for her family's groceries at the local Whole Foods store. D) A firm buys laptops from Dell for company salespeople to use when traveling. E) Airmark sells a vinyl printing press to a manufacturer of plastic storage containers.

Which of the following is an advantage of a well-designed and targeted telemarketing plan? A) exemption from the National Do Not Call Registry B) ability to portray wider merchandise C) purchasing convenience for customers D) interactive infomercials via phone E) coordination with nearby kiosks

Which of the following is most likely true about a straight rebuy? A) Suppliers are not required to focus on quality of products or services delivered. B) A straight rebuy is far more complex than a new-task situation. C) A straight rebuy is handled on a routine basis by the purchase department. D) A straight rebuy occurs only when a buyer wants to pinpoint and procure the best deal in the market. E) A straight rebuy involves more opportunities for "out" buyers than do other types of purchasing situations.

Which of the following is true about the product sales force structure? A) A product sales force structure is most appropriate for a company that manufactures a small number of simple products. B) In a product sales force structure, each salesperson is assigned to an exclusive geographic area and sells the company's full line of products or services to all customers in that territory. C) In a product sales force structure, salespersons specialize in only a particular product line as the company produces numerous and complex products. D) In a product sales force structure, a single salesperson can become an expert in all product categories. E) In a product sales force structure, specialization is highly discouraged.

Which of the following processes does value-based pricing reverse? A) high-low pricing B) everyday low pricing C) cost-based pricing D) good-value pricing E) value-added pricing

Which of the following product mix pricing strategies involves pricing products that must or can only be used with the main product? A) by-product pricing B) product bundle pricing C) captive product pricing D) product line pricing E) optional product pricing

Which of the following statements is true of direct marketing? A) Direct marketing is also referred to as referral marketing. B) Salespersons are compensated for other salespeople they recruit. C) Direct marketing offers sellers a low-cost alternative for reaching their markets. D) Direct marketing involves two or more intermediaries. E) In direct marketing, consumers earn a commission every time they buy a product.

Which of the following statements is true of social classes? A) Social classes are society's temporary divisions. B) Members of a social class have unique and distinct values, interests, and behaviors. C) People within a social class tend to exhibit similar buying behavior. D) Income is the single factor that determines social class. E) Social classes universally exhibit identical product and brand preferences.

Which of the following statements is true regarding social classes in the United States? A) Social class is determined by income alone. B) Lines between social classes in the United States are fixed and rigid. C) Social classes show distinct product preferences in clothing and automobiles. D) Wealth is more critical than education level in measuring social class. E) People are relegated to a permanent social class in the United States.

Which of the following terms refers to a specific mix of human traits that may be attributed to a particular brand? A) brand perception B) brand identity C) brand personality D) brand concept E) brand equity

Which stage of new-product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product? A) concept testing B) marketing strategy development C) business analysis D) product development E) test marketing

________ consists of evaluating each market segment's attractiveness and selecting one or more market segments to enter. A) Positioning B) Mass customization C) Market targeting D) Market segmentation E) Differentiation

________ have formal authority to select the supplier and arrange the terms of purchase. A) Users B) Influencers C) Buyers D) Gatekeepers E) Deciders

________ involves dividing a market into smaller segments of buyers with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. A) Mass customization B) Market targeting C) Market segmentation D) Differentiation E) Positioning

________ means that the quality of services depends on who provides them as well as when, where, and how they are provided. A) Service intangibility B) Service inseparability C) Service variability D) Service perishability E) Service heterogeneity

________ occurs when a seller states price savings that are not actually available to consumers. A) Comparative pricing B) Scanner fraud C) Deceptive pricing D) Market skimming E) Price collusion

________ refer to members of the buying organization who will actually use the purchased product or service. A) Gatekeepers B) Deciders C) Users D) Influencers E) Buyers

________ refers to a business buying situation in which the buyer purchases a product or service for the first time. A) Modified rebuy B) Straight rebuy C) New task D) Reverse auction E) Derived demand

________ refers to the amount of money charged for a product or service. A) Value B) Cost C) Price D) Wage E) Salary

________ requires finding the major advantages people look for in a product class, the kinds of people who look for each positive aspect of a product, and the major brands that deliver it. A) Gender segmentation B) Psychographic segmentation C) Benefit segmentation D) Geographic segmentation E) Age and life-cycle segmentation

________ retailers in the United States are growing faster than product retailers. A) Discount B) Merchant C) Service D) Specialty E) Off-price

A company getting ready to launch a new product must make several decisions. The company must first decide on ________. A) whether to launch the product in a single location B) whether to launch the product in a region C) whether to launch the product into full national distribution D) when to introduce the product E) when to develop a planned market rollout

A(n) ________ consists of a set of buyers who share common needs or characteristics that the company decides to serve. A) marketing channel B) citizen-action group C) distribution channel D) target market E) customer franchise

All of the following are common uses for a direct marketing customer database EXCEPT ________. A) generating sales leads B) identifying prospective customers C) profiling customers based on previous purchases D) gathering marketing intelligence about competitors E) building long-term customer relationships

Capitalizing on the customer's complaints about the previous detergents she has used, Sheila, a salesperson, explains to the customer why her company's detergent Swish is better and how it can be a one-stop solution for everyday washing. In which of the following steps of the selling process is Sheila in? A) follow-up B) handling objections C) preapproach D) presentation E) prospecting

Companies are doing less ________ and more ________ as a result of the explosive developments in communication technologies to better target smaller customer segments. A) personal selling; CSR activities B) public relations activities; CSR activities C) CSR activities; mass marketing D) broadcasting; narrowcasting E) viral marketing; word-of-mouth marketing

Developing an effective message strategy begins with identifying ________ that can be used as advertising appeals. A) consumer trends B) competitors' weaknesses C) competitors' strengths D) customer benefits E) consumer emotions

Encouraging customers to switch brands is most likely the objective of ________ advertising. A) informative B) reminder C) covert D) persuasive E) institutional

Geller Insurance calls qualified prospects to sell insurance. Which of the following forms of marketing is evident from this example? A) catalog marketing B) kiosk marketing C) direct-response television marketing D) telemarketing E) direct-mail marketing

In routine buying situations, which of the following members of the buying center has formal or informal power to select or approve the final suppliers? A) users B) influencers C) gatekeepers D) deciders E) buyers

In which of the following steps of the selling process is a salesperson most likely to meet the customer for the first time? A) prospecting B) pre-approach C) follow-up D) approach E) closing

Introducing a new product into the market is called ________. A) test marketing B) simulation C) co-marketing D) commercialization E) segmentation

La Belle released a a cut glass bottle of perfume at $299 per item, even though its major competitor prices its signature scent at $99 per item. La Belle reasons that customers in search of luxury goods will prefer its product because they are likelier to believe that high price indicates superior quality. What price adjustment strategy is evident in its reasoning? A) seasonal pricing B) time-based pricing C) captive product pricing D) psychological pricing E) location-based pricing

Marketers often segment international markets according to the type and stability of government. In such instances, they segment markets based on ________. A) geographic location B) economic factors C) cultural factors D) political factors E) socio-cultural factors

Sanguine Services is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. Sanguine most likely uses which of the following marketing strategies? A) individual marketing B) one-to-one marketing C) mass marketing D) concentrated marketing E) trigger-based marketing

Teen Mania Inc., a company marketing adventure sports merchandise for teenagers, targets the world's teenagers, who have similar needs and buying behavior even though they are located in different countries. Which of the following market segmentation is evident here? A) income segmentation B) psychographic segmentation C) gender segmentation D) intermarket segmentation E) occasions segmentation

The major product line decision involve(s) ________, the number of items in the product line. A) product features B) product line depth C) product line conformance D) product line length E) product packaging

The purpose of a training program for salespeople is to teach them about all of the following EXCEPT ________. A) customers' buying habits B) customers' buying motives C) competitor strategies D) industry history E) company goals

Using ________ pricing, companies are able to turn their trash into cash, allowing them to make the price of their main product more competitive. A) product bundle B) optional product C) captive product D) by-product E) product line

What type of pricing is being used when a company temporarily prices its product below the list price or even below cost to create buying excitement and urgency? A) segmented pricing B) international pricing C) reference pricing D) promotional pricing E) basing-point pricing

Which of the following is true with regard to price? A) Historically, price has had the least perceptible impact on buyer choice. B) Price is the least flexible element in the marketing mix. C) Unike product features and channel commitments, prices cannot be changed quickly. D) Price is the sum of all the values that customers give up to gain the benefits of having a product. E) Prices only have an indirect impact on a firm's bottom line.

Which of the following is true with regard to products? A) The quality of products is far more difficult to measure than that of services. B) Products do not include experiences, organizations, persons, places, and ideas. C) Products are not meant for sale in the market. D) Products include services, events, persons, places, organizations, ideas, or a mixture of these. E) Products refer to only those activities that are essentially intangible.

Which of the following message execution styles focuses on the company's skill and knowledge in making the product? A) endorsement B) scientific evidence C) slice of life D) technical expertise E) testimonial evidence

Which of the following product mix pricing strategies did Polaroid use when it set the general price range of its cameras low and the markup on its film high? A) product-segmented pricing B) by-product pricing C) customer-segmented pricing D) captive product pricing E) product bundling pricing

Which of the following promotion categories is most likely to use the promotion tools of press releases, sponsorships, events, and Web pages? A) sales promotion B) direct marketing C) advertising D) public relations E) horizontal diversification

Which of the following promotion tools involves building up a good corporate image and handling unfavorable stories and events? A) sales promotion B) personal selling C) direct marketing D) public relations E) advertising

Which of the following stages of the PLC is characterized with high promotional expenditures that result from an effort to create consumer awareness? A) growth B) product development C) maturity D) introduction E) decline

Which of the following statements is true of the idea generation stage in the new-product development process? A) The purpose of idea generation is to reduce the number of ideas to the least possible number. B) Truly innovative companies rely exclusively on a single source for new-product ideas. C) Customers are the least important sources of new-product ideas. D) Truly innovative companies develop extensive innovation networks that capture ideas and inspiration from every possible source. E) Truly innovative companies seldom rely on customers and the general public for ideas.

Which type of store is much larger than regular supermarkets and offers a large assortment of routinely purchased food products, nonfood items, and services? A) off-price retailer B) specialty store C) factory outlet D) superstore E) convenience store

Whitelight stocks its toothpastes in all convenience stores across the country. This is an example of ________ distribution. A) exclusive B) selective C) hybrid D) intensive E) normal

Why are historically online shops such as Zappos.com adding catalogs to their marketing methods? A) to meet the increased demand in print catalogs B) to reduce the costs involved in online marketing C) to connect with customers in hard-to-reach places D) to drive online sales and services E) to reduce the need for telemarketers

________ are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort A) Unsought products B) Capital items C) Shopping products D) Convenience products E) Supplies and repair services

________ are facing slow sales growth because of slower population growth, increased competition, and the rapid growth of out-of-home eating. A) Warehouse clubs B) Off-price retailers C) Discount stores D) Supermarkets E) Factory outlets

________ data in the customer database includes data about the recency, frequency, and monetary value of past purchases of a customer. A) Census B) Psychographic C) Geographic D) Buying behavior E) Demographic

________ involves sending an offer, announcement, reminder, or other item to a person at a particular address. A) Kiosk marketing B) Online marketing C) Ambush marketing D) Direct-mail marketing E) Telemarketing

________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer. A) individual marketing B) local marketing C) niche marketing D) undifferentiated marketing E) segmented marketing

________ segments are conceptually distinguishable and respond differently to different marketing mix elements and programs. A) Complex B) Measurable C) Competitive D) Differentiable E) Homogeneous

________ tailors brands and promotions to the needs and wants of regional customer groups, such as cities, neighborhoods, and even specific stores. A) Undifferentiated marketing B) Differentiated marketing C) Niche marketing D) Local marketing E) Individual marketing

Home Depot and PetSmart are examples of ________. A) factory outlets B) warehouse clubs C) superstores D) off-price retailers E) category killers

In the ________, separate sales forces are set up for different industries. A) territorial sales force structure B) digital marketing system C) product sales force structure D) geographical operations system E) customer sales force structure

A(n) ________ system involves a single firm setting up two or more marketing channels to reach one or more customer segments. A) conventional distribution B) corporate vertical marketing C) horizontal marketing D) administered vertical marketing E) multichannel distribution

An American cola-manufacturing company that primarily targets rebellious and adventurous people most likely uses ________ segmentation. A) occasion segmentation B) geographic segmentation C) income segmentation D) benefit segmentation E) psychographic segmentation

At Price & Wallace Inc., a pharmaceuticals company, members of the sales force and marketing department tend to have disagreements when things go wrong with a customer. The marketers blame the salespeople for poorly executing their strategies, while the salespeople blame the marketers for being out of touch with customers. Which of the following steps should the higher management at Price & Wallace take to help bring the sales and marketing functions closer together? A) establish a customer sales force structure and make sure that sales quotas are easily achievable B) establish a complex sales force structure C) emphasize traditional methods of selling D) adopt a sales force automation system and implement team selling E) appoint a high-level marketing executive to oversee both marketing and sales

At its most basic form, a marketing channel consists of the producer and the ________. A) retailer B) sales agent C) competitor D) processor E) consumer

Coca-Cola cups prominently featured on episodes of American Idol are an example of ________. A) advertainment B) buzz marketing C) personal selling D) sales promotion E) product placement

Which of the following companies uses product bundle pricing? A) Photo Genie, which sells inexpensive cameras that run only on their own, expensive, batteries B) Tune Zone, which launched a range of mp3 player models, each priced according to its features C) Penguin's Parlor, which offers customers a 20% discount on their birthdays D) Green Thumb, which gives away free watering cans with the purchase of certain potted plants E) Panizza, whose combo meals are priced lower than its individual components sold together

Which of the following is a benefit of using blogs as marketing tools for companies? A) Blogs provide companies with a platform to help portray wider merchandise. B) Blogs are online selling platforms for people located in hard-to-reach places. C) Blogs help reach a wider audience compared to other online direct marketing tools. D) Demographic information about customers can be easily discovered. E) Blogs are an inexpensive yet personal way to reach a targeted audience.

Which of the following is a price adjustment strategy? A) product bundle pricing B) by-product pricing C) product line pricing D) optional product pricing E) discount and allowance pricing

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

Which of the following is an example of a pure tangible good? A) a laptop with a comprehensive warranty for three years B) an online shoe retailer that provides free home delivery C) an agency that offers free legal advice D) a credit card E) a bag of potato chips

Which of the following is an objective of persuasive advertising? A) communicate customer value B) correct false impressions C) describe available services and support D) keep the brand in a customer's mind during off-seasons E) change customer perceptions of product value

Which of the following is most likely a risk associated with experience-curve pricing? A) High-volume production facilities are unable to meet demand. B) New technology often leads to productivity problems. C) Demand for the product fluctuates unpredictably. D) Consumers tend to prefer new brands over established ones. E) Aggressive pricing often gives a product a cheap image.

Which of the following is one of the five major promotion tools? A) market penetration B) strategic positioning C) product line filling D) market diversification E) direct marketing

Which of the following is true about the customer sales force structure? A) Customer sales force structure is a combination of territorial sales force structure and product sales force structure. B) Each salesperson is assigned to an exclusive geographic area and sells the company's full line of products or services to all customers in that territory. C) Salespersons specialize in only a particular product line as the company produces numerous and complex products. D) Companies using customer sales force structure tend to ignore the importance of long-term relationship building with customers. E) Separate sales forces are set up for different industries, serving current customers versus finding new ones, and serving major accounts versus regular accounts.

Which of the following price adjustment strategies involves reducing prices to reward customer responses such as volume purchases, paying early, or promoting the product promptly? A) product bundle pricing B) captive product pricing C) product line pricing D) dynamic pricing E) discount and allowance pricing

Which of the following product mix pricing strategies involves pricing additional/accessory products sold along with the main product? A) inclusive product pricing B) exclusive product pricing C) by-product pricing D) product bundle pricing E) optional product pricing

Which of the following product mix pricing strategies involves setting prices across an entire product range based on cost differences between the products, customer evaluations of different features, and competitors' prices? A) by-product pricing B) product bundle pricing C) optional product pricing D) captive product pricing E) product line pricing

Which of the following product offerings is intangible? A) a package of laundry detergent B) an ink cartridge for a printer C) a wool jacket D) a gold ring E) a taxi ride

Which of the following promotions would be most appropriate for Reliable Tools to use in its attempt to promote its products and generate new business leads? A) rebates and price packs B) premiums C) specialty advertising D) samples E) conventions and trade shows

Which of the following refers to a cultural factor in the context of segmenting international markets? A) receptivity of foreign firms B) economic development of the country C) population income levels D) stability of the government E) values and attitudes

Which of the following statements about break-even analysis is true? A) It is used to determine how much production experience a company must have in order to achieve desired efficiencies. B) It is a technique used to calculate fixed costs. C) It determines the amount of retained earnings a company will have during a given accounting period. D) It is a technique marketers use to determine the relationship between supply and demand. E) It is calculated by using variable costs, the unit price, and fixed costs.

Which of the following statements best explains why idea screening may be the most important step of new-product development? A) It increases the number of ideas generated. B) It provides an opportunity for the marketer to test the prototype in a simulated market. C) It helps forecast the products' sales and profits accurately for a specific period. D) It gives research and development team members an opportunity to gather consumer feedback. E) It saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable.

Which of the following statements is true regarding today's marketing communications? A) More marketers are shifting away from narrowly defined micromarkets and moving toward mass marketing. B) More customers have started relying on marketer-supplied information rather than finding out information on their own. C) Network television, magazines, newspapers, and other traditional mass media continue to increase their dominance. D) Focused marketing programs which are designed to build closer relationships with customers in more narrowly defined micromarkets are no longer used by marketers. E) Today's consumers are better informed about products and services.

________ is the practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. A) Mass marketing B) Trigger-based marketing C) Differentiated marketing D) Concentrated marketing E) Micromarketing

MKTG 300 FINAL

Conjuntos de estudio relacionados

Ch 2

TheatreChapter14

euro sem 1 final

Midterm Exam

Neuroanatomy (AMBOSS)

Bio 182 Chapter 33 & 34

Project evaluation

bus law exam 4

APR 3

Graham Greene - British Literature B

Programming Final Exam

Pharmacology Musculoskeletal Medications Saunders

Cognitive development in late adulthood

Water system Study guide

DATA STRUCTURE MCQS

Psychology

4 - Life Insurance Premiums, Proceeds and Beneficiaries

Reduction of risk potential

psych

EVOLVE EXAM 3 PEDS