MkTG 3650- Test 3

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For which of the following products is a manufacturer most likely to use intensive distribution? A-Vacuum cleaners B-Silk flowers C-Mountain bikes D-Softdrinks E-Latex paint.

Polo (Ralph Lauren) not only manufactures clothing but also operates its own retail stores (factory outlets). Polo is an example of a(n): A-Contractual VMS B-Administered VMS C-Wholesaler-sponsored voluntary chain D-Corporate VMS E-Franchise system

The VMS in which a large scale wholesaler brings together or sponsors a number of independent retailers is called a: A-Retailer cooperative B-Producer cooperative C-Vertical wholesale system D-Voluntary chain E-Voluntary wholesale system

The channel of distribution for consumer products does not include which of the following? A-The producer B-Intermediaries, such as wholesalers and retailers C-Ultimate consumers of the distributed product D-Suppliers of component parts to the producer.

The main difference between retailer cooperatives and voluntary chains is: A-Their offensive vs. defensive postures B-The length of the distribution channel C-The types of promotion used D-Who organizes them E-Their pricing strategies.

The manager of the San Francisco Seafood Company knows the market for its Talapia is geographically quite large. Price and supply conditions vary considerably from season to season. Since San Francisco Seafood can sell its Talpia only a few months each year, it does not need continuous market representation. The San Francisco Seafood and other Talapia producers should use: A-Selling agents B-Manufacturers' agents C-Drop shippers D-Brokers E-Commission merchants.

The primary benefit to consumers when buying from a vending machine is: A-Lower prices B-Higher quality products C-No requirement to interface with a retail salesperson D-Convenience E-Cleanliness.

The supply chain function in which buyers and sellers are brought together to perform exhanges is: A-Allocating B-Assorting C-Accumulating D-Matching E-Batching.

Todd Jeffries sells bulk lubricants and solvents to the many small machine shops in southern California. He takes title to the products but does not handle them. Instead, the lubricants and solvents are shipped in 25 to 50 gallon barrels directly from the producer to the machine shops. Todd is a: A-cash-and-carry wholesaler. B-manufacturers' agent. C-specialty wholesaler. D-drop-shipper. E-selling agent.

When retailers such as Kroger or Winn-Dixie bring together a variety of different products to offer their customers, they are peforming the __________ channel function. A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

Which of the following is a distinct advantage of the smaller independent retailer over its corporate chain store competitors? A-Better financed with more resources B-Access to experienced expert management C-Scale economies in purchasing and promotion D-Greater flexibility in operational decision-making at the individual store level E-Greater brand recognition.

Aggregate Chemical Supply is a large wholesaler of chemical products. Aggregate buys in large quantities from its suppliers and then resells these chemicals in smaller amount to its customers across the Southwest US. Which supply chain (channel) function is being performed by Aggregate? A-Accumulating B-Allocating C-Sorting D-Assorting. E-Grading

The Polo outlet at Grapevine Mills, a large factory outlet center, is an example of which channel structure? A-Administered vertical marketing system B-Corporate vertical marketing system C-Franchise system D-Retailer cooperative E-Voluntary chain.

Wal-Mart distribution centers bring together a large variety of different kinds of products from a wide range of manufacturers. Wal-Mart is performing the ______________ function when, based on what each store's needs are at the time, it combines a number of different products together for shipping to each of its Wal-Mart stores. A-Accumulating B-Assorting C-Allocating D-Buying and selling E-Sorting.

Warehouses run by third party operators provide access to long-term and short-term specialized storage and inventory management facilities. In the context of supply chains, these warehousing firms are called _________. A-Storage intermediaries B-Facilitating agents C-Vertical integrators D-Warehousing agents E-Channel integrators.

Wal-Mart, because of its sheer size and market position is able to coordinate distribution activities through its market power. This is an example of the ______________ type of VMS. A-Administered B-Corporate C-Retailer Cooperative D-Voluntary Chain E-Contractual

Which of the following channels for consumer goods is Avon using when it sells its products at the avon.com website? A-A direct channel to consumers B-Producer to retailer to consumer C-Producer to agent to retailer to consumer D-Producer to wholesaler to retailer to consumer E-Producer to agent to wholesaler to retailer to consumer

Which of the following companies is least likely to function as a channel captain in their respective supply chains? A-Pizza Hut B-Apple C-Walmart D-P&G E-Ralston-Purina

____________ sell seconds, production overruns, discontinued, outdated or out-of-season brand name merchandise at prices that are often below those charged by other discount stores for comparable merchandise. A-Off-price retailers B-Specialty stores C-Factory outlets D-Category killers E-Department stores.

Which supply chain function breaks up the large quantities produced by manufactures into smaller quantities at the retail level from which you will choose. A-Matching B-Allocating C-Negotiating D-Assorting E-Sorting.

____________ is most likely to arise when manufacturers attempt to bypass with wholesalers or retailers and sell direct to consumers. A-Horizontal supply chain conflict. B-Verical supply chain conflict. C-Vertical channel dissonance. D-Contract conflict.

Managing the flow of parts and other factors of production into the manufacturing process has been traditionally called ___________ by logisticians. A-Physical Distribution Management B-Logistics Management C-Materials Management D-Channel Management E-None of the above.

When franchisors demand that their franchisees buy all products from the franchisor in order to assure the quality of franchise's products, they are employing ______________ A-Exclusive dealing. B-Refusal to deal. C-Tying contracts. D-Exclusive territories.

Which channel function creates time utility for consumers? A-Accumulating B-Allocating C-Storage D-Assorting E-Sorting.

Which distribution channel is a small manufacturer of specialty wood gift products sold to gift shops most likely to use? Assume that the manufacturer is not able to afford its own sales force. A-Producer to contractor. B-Producer to industrial distributor to contractor C-Producer to agent to retailer D-Producer to industrial distributor to agent to contractor. E-Producer to contractor to agent.

With an __________ policy, a manufacturer agrees to establish a single distributor in a restricted geographic area. A-Refusal to deal B-Tying agreement C-Exclusive territory D-Exclusive dealing.

_____ carry a select line of perishable products and deliver them by trucks to retail stores. A-Full-service wholesalers B-Rack jobbers C-Truck jobbers D-Commission merchants E-Drop shippers.

7-Eleven, Quick-Trip, and Circle K, and On the Run are all examples of ________ . A-Supercenters B-Supermarkets C-Discount stores D-Category killers E-Convenience stores.

A vertical marketing system (VMS): A-Was the dominant form of distribution until the advent of the horizontal marketing system. B-Evolved because producers were not concerned with the needs of their middlemen. C-Directs that all marketing functions be performed by the wholesaler. D-Is an uncoordinated distribution channel in which retailers and wholesalers retain their freedom of operations. E-Improves the channel's operating coordination, efficiency, and effectiveness.

Direct channels for products are most likely for _________ . A-Consumer convenience goods B-Consumer shopping goods C-Consumer specialty goods D-Industrial supplies E-Industrial installation.

Merril Lynch, an investment firm, sorts investment opportunties based on "risk" and "return" from which its clients to choose. Merril-Lynch is peforming which channel function? A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

For featuring Lego Sets prominently in its store window, Toy Emporium, a store that carries educational toys, received a free motorized Ferris Lego Wheel kit, valued at $150. This is an example of a: A-Forward dating. B-Seasonal discount. C-Cash discount. D-Promotional allowance. E-Rebate.

A manufacturer has set the initial price of its product below the product's AVC. The manufacturer assumes that the low price will be attractive to enough consumers so that market share can be acquired very rapidly. The producer further assumes that, as additional market share is attained, AVC will be reduced substantially. In fact, when total sales hit the 20,000 unit point, the producer expects AVC to drop below price. The manufacturer is most likely making use of: A-Scale economies associated with increased manufacturing efficiency as plant capacity is approached. B-Reliance on the likely inelastic demand that should exist for this product. C-Reliance on a high quality, prestige image that can be expected to generate high levels of market demand. D-Experience curve effects. E-None of the above.

A salesperson asks: "Is there any reason why we can't process your order and proceed with the shipment next week?" The salesperson is probably using a(n) ___________. A-Assumptive close B-Standing room only close C-Sharp angle close D-Final objection close.

A tire retailer is advertising a very low price on a popular size tire. When a customer comes into the store, the clerk says the low-priced item is sold out, and tries to convince the customer to buy the top-of-the-line model--claiming the low priced model is not a very good buy even at the low price. This is an example of: A-full-line pricing. B-value in use pricing. C-price lining. D-bait pricing. E-leader pricing.

Advertising, personal selling, sales promotion, publicity, and public relations comprise the firm's __________. A-Marketing mix B-Communications mix C-Sales mix D-Promotion mix E-Advertising mix.

Alice Garrett runs her own distribution business in which she stocks a full range of specialty gift item for resale to gift shops. Alice is probably a _________ . A-Drop shipper B-General merchandise wholesaler C-Retailer Cooperative D-Specialty wholesaler

Amazon.com sells products via the Internet predominantly to ultimate consumers for their own personal or household use. Amazon is a(n) __________. A-Dot.com B-Wholesaling intermediary C-Internet distributor D-Retailing intermediary E-Facilitating agent.

Blue Ridge Knives wants to set its selling price on a custom knife so that the retail list price will be $150--taking into account markups of 10 percent at wholesale and 30 percent at retail. At what price should Blue Ridge Knives sell the item to wholesalers? (Select the closest answer). A-$80.00 B-$85.00 C-$90.00 D-$95.00 E-$100.00

Break-even analysis is normally conducted during the __________ stage of the price setting process. A-Setting price objectives B-Identifying price strategies C-Setting base price D-Cost-volume-profit analysis E-Pricing management.

Consumers normally pay for film and processing separately. When Eckerd Drugstores advertises one price for the cost of a roll of film and this price includes the cost of processing the film, they are using A-Flexible pricing. B-Bait pricing. C-Prestige pricing. D-Bundled pricing. E-Promotional pricing.

Department stores are facing serious competition from discount stores and category killers that offer the same or similar merchandise at lower prices. Which of the following actions are being taken by some department stores, such as Nordstrom, to combat these inroads? A-Target upscale shoppers who are less price-elastic B-Focus on higher margin products such as clothing, jewelry, and cosmetics C-Individual departments may operate as upscale specialty stores stressing enhanced "atmospherics." D-All of the above are being employed E-Only a and b above.

Even when production stops (i.e. no units produced), the firm still generally incurs some _________. A-Variable production costs. B-Marginal costs. C-Psychological costs. D-Fixed production costs. E-Total values costs.

Jane Tuttle calls on the many gift shops at Estes Park, Colorado and sells a variety of unique decorative glass items, wind chimes, and picture frames produced by the companies that she represents. The store owners order from Jane rather than from the different manufacturers she represents. Apparently, Jane is a: A-Rack jobber. B-Drop-shipper. C-Broker. D-Manufacturers' agent. E-Selling agent.

Joe lives in Hawaii and is a frequent buyer of antiques on Internet auction sites. He is used to paying higher shipping costs than his brother who lives in Colorado and who also likes to buy antiques on the Internet. The price differential is most likely because: A-The current legal interpretation of the Robinson-Patman Act required the price differential B-The rules and regulations of the Federal Trade Commission required the price C-The seller set pricing differentials based on the existence of inverse demand D-The seller probably was using zone-delivered pricing. E-The seller was using cash discounts.

Kansas Textile Mills produces a range of high quality fabrics used in the fashion garment industry. Kansas has no desire to do its own marketing. Instead, it contracted Allied Distributors to take over its marketing functions. Apparently, Allied is : A-A rack jobber B-A manufacturer's agent C-A broker D-A selling agent.

Marriott intends to add hotel operations in Belize and Honduras. It would like to partner with local investors who would own the hotels, but rely on Marriott to provide management services. Ultimately, Marriott wants to buy out the foreign investors. Marriott probably should be advised to use which method of entering a foreign market? A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

McDonald's product menu and its promotions vary greatly across the different countries in which it operates. The firm sensibly focuses substantial marketing mix attention on delivering products and messages that are popular and culturally acceptable across various nations and regions. McDonald's is using a(n) ______. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

Memorable advertising messages that are easy to recall and remember should possess which of the following characteristics? A-They should be "believable" B-They should be distinctive in that they should stand out from similar messages offered by competitive brands C-They should be "determinant" in that some unique feature or benefit that is associated with the brand should be emphasized. D-All of the above are important E-Only "b and c" above are essential.

T/F Assuming the law of demand holds true for a specific demand curve, high prices are not likely to be profitable for the seller because too few units will be sold to cover the firms total fixed costs.

True

T/F The major distinction between voluntary chains and retailer cooperatives is who originated the distribution system.

True

T/F The term "price competition" in a marketing context means that firms have opted to employ price aggressively as a major component of their marketing program.

True

The pricing strategy most appropriate for "positional products" is __________ A-Penetration pricing B-Prestige pricing C-Product line pricing D-Competitive pricing E-Predatory pricing.

The pricing strategy that may induce price sensitive customers to periodically visit a retail store to see "what's on sales" is __________ . A-Systematic discounting B-Random discounting C-Second market discounting D-Odd pricing E-Penetration pricing.

Which method for estimating demand curves is least appropriate for the marketer of a new product. A-Using buy-response data. B-Using historical ratios. C-Using test market data. D-Using managerial judgement.

A _____ essentially substitutes for a manufacturer's marketing department by marketing the firm's entire output. A-Selling agent B-Manufacturers' agent C-Drop shipper D-Broker E-Commission merchant.

A primary weakness of sales promotions is: A-They are easily duplicated by competitors and may lead to sales promotion wars B-Their use is too costly compared to other forms of promotion C-They are less effective for stimulating trial and repeat purchase D-They cannot "close" the sale.

A profit-oriented manufacturer of a consumer durable product faces a demand curve that is upward sloping to the right until extremely high prices are reached. For these latter prices, the demand curve tips over and is downward sloping. Which of the following pricing approaches is most consistent with the demand curve described? A-Prestige pricing B-Average cost-pricing. C-Bait pricing. D-Penetration pricing. E-Experience curve pricing

A retailer pays $75 for a leather jacket and desires a 65% mark-up on products of this type. What will be the price to consumers for this jacket (Select the closest answer) A-$214 B-$215 C-$216 D-$217 E-$218

Advertising by advocacy groups and governmental agencies that attempt to reduce demand for a product is called ________ . A-De-marketing B-Demand reduction marketing C-Controlled marketing D-Demand off-set marketing E-Re-marketing.

Advertising is used extensively during the ____________ stage of the PLC to create awareness and stimulate product trial. A-Introduction B-Growth C-Maturity D-Decline E-All of the above.

After determining the target audience for an advertising campaign, firms must decide what the advertising should accomplish. Such decisions are done in which stage of the advertising process? A-Establish advertising objectives B-Identify the target audience C-Determine the advertising budget D-Execute the advertising strategy E-Determine advertising strategy.

Door-to-door selling and party plan selling are both examples of ________ . A-Telemarketing B-Direct selling C-In-store retailing D-Direct retailing E-Mail order selling.

An understanding of traditions, preferences, and dos and don'ts in foreign counties helps domestic firms avoid embarrassing marketing mistakes. Equally important, these insights can also provide opportunities to exploit important differences in wants, needs, values, and perceptions. These considerations reflect the importance of understanding how ____________ impact a firm's potential global marketing strategy. A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates.

Assume that you are estimating the demand curve for a product using buy-response data and have collected the following via a survey: Price % Who Will Buy 5.00 1% 4.75 10% 4.50 25% 4.25 45% 4.00 60% 3.75 75% 3.50 90% Assume that research suggests that your target market consists of approximately 500,000 persons. You anticipate that each buyer will purchase an average of 1.5 units of the product. What level of demand can you expect at the $4.00 price? (round to the nearest unit). A-450,000 units B-300,000 units. C-60 units. D-750,000 units. E-none of the above.

BP ran an effective institutional advertising campaign to improve its image after the Gulf oil spill. The purpose of the ads was to inform the public, affected citizens and businesses, and governmental agencies of its efforts to clean up the spill and its steps to ensure that it would not happen again. When BP decided on the purpose(s) of the campaign is was in which stage of the advertising process? A-Establish advertising objectives B-Identify the target audience C-Determine the advertising budget D-Execute the advertising strategy E-Determine advertising strategy.

Blue Diamond is a __________ in which almond growers have established their own wholesaling and distribution system. A-Producer's Coop B-Retailer's Coop C-Specialty wholesaler D-Truck distributor.

Bounty paper towels employ _____________ in which the brand is presented in a way that emphasizes its absorbency and strength. A-Demonstration advertising B-Testimonial advertising C-Lifestyle advertising D-Slice of life advertising.

Burger King's simple but memorable "Have It Your Way" creative concept was the basic theme upon which subsequent advertising was based for more than 20 years. "Have It Your Way" was Burger King's _____________ . A-Big Idea B-Target message C-Advertising slogan D-Mission E-Advertising theme.

Consumers who spread positive word-of-mouth about products or brands are called _________. A-Brand evangelists B-Brand missionaries C-Opinion leaders D-Innovators.

Convience stores, barber shops, hair stylists, manicurists, delis, and other small specialy stores tend to located their facilities in ________________ in order to target consumers living nearby, attracting consumers who are primarily interested in a combination of convenience and lower prices. A-Neighborhood centers B-Community centers C-Regional centers D-Power centers E-Factory outlet malls.

Counterfeiting technology has made it easier for counterfeiters to make better fake copies of legitimate brands. In fact, Jack Ma (Alibaba founder) has gone on record saying the many counterfeits are made in the same factories using the same materials as authentic brands. Such counterfeits have been called _________ . A-Super fakes. B-Super counterfeits C-Super copies D-Fabulous fakes.

Danni is planning to open a boutique coffee shop on the town square in Denton, Texas. She has run the numbers and estimates that she will need to serve 6,000 customers per month with average checks of $10 each to break-even. Based on industry trade association data and data compiled by the Denton Chamber of Commerce, Danni can expect average monthly receipts of $5,000. Based solely on this information, what should Danni do? A-Forego opening the coffee shop in Denton at this time B-Definitely should open the coffee shop C-Look for a potential partner that can share the costs D-Consider an alternative location

Denton Plumbing, Inc. buys plumbing supplies, piping, fixtures, and tools from different manufacturers and resells them to construction companies. Denton is MOST LIKELY: A-A merchant wholesaler B-A drop shipper C-An agent middleman D-A manufacturer's agent E-A rack jobber.

Diet Coke's "Red Dress Online Initiative" used traditional and online media to draw attention to women's heart disease as the number one killer of women. This is an example of ____________. A-Advocacy advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

Domino's opened pizza stores throughout Asia during the 1990s using the same positioning strategy employed in domestic US markets. This strategy, however, did not resonate with Asian consumers. In their minds 30-minute delivery promises were not sufficient to offset the pizza's comparative mediocrity. The failure of Domino's in the Asian market illustrates the dangers of using a ____________ for penetrating global markets. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

False, misleading, and deceptive advertising are regulated by the __________. A-FTC Act of 1914 B-Robinson-Patman Act C-Trademark Law Revision Act. D-Lanham Trademark Act

Family and friends typically score high on those factors that contribute to source credibility except: A-Source expertise B-Source trustworthiness C-Source believability D-Source honesty.

For an advertising message about a product or brand to be "determinant" it must focus on or emphasize ____________. A-Some point of difference (POD) B-Benefits similar to those offered by competitors C-Superior value to competitor's brands D-Features and benefits delivered by the brand.

In the price setting process, __________ are considered to be the role that price is expected to play in the firm's marketing program. A-Price objectives B-Price strategies C-Price tactics D-Pricing techniques and tools E-None of the above.

Joanna is the buyer for a local privately-owned convenience store. She places frequent orders from a local truck distributor that delivers fresh product on a daily basis. Joanna particularly likes doing business with this distributor since he offers substantial discounts at the end of each quarter based on the amount of product purchased that quarter. Evidently, the distributor is employing a: A-Cumulative quantity discount program B-Seasonal discount program CNon-cumulative discount program D-Cash discount program E-Promotional pricing program.

Kellogg's "Share Your Breakfast" campaign used Facebook as the primary medium for its 2011 award-winning advertising campaign. In its ads, Kellogg urged consumers to submit their breakfast photos. Kellogg, for each photo, donated money to a nonprofit organization that provided free breakfasts to schoolchildren. This is an example of ____________ . A-Advocacy advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

Lee Gabriel Distributors, based on Denton, TX, sells fast moving hardware items to small independent grocers in rural Texas. Lee often provide the displays, stock the shelves, and monitors inventory for his clients, charging them only after sales have been made. Apparently, Lee is a ______ . A-Rack jobber B-Retailer's Coop C-Specialty wholesaler D-Truck distributor.

Little active information search and alternative evaluation occurs with low involvement decisions. Which promotional media are most effective at reaching and influencing consumers under these conditions? A-High imagery advertising media, such as TV and billboards. B-Print media, such as magazines and newspapers C-Publicity gleaned from newspapers and TV D-Strong public relations programs E-Social media advertising.

Nike unintentionally agitated Chinese officials after it released an ad in China that featured Lebron James destroying several culturally-esteemed Chinese figures in a Kung Fu-themed television promotion. Chinese politicians asserted that the ad violated regulations to maintain national dignity. These are examples of ____________ impacting a firm's potential global marketing strategy. A-Cultural differences B-Economic factors. C-Political factors D-Trade barriers E-Exchange rates

Personal selling is employed to reach intermediaries and persuade them to stock and promote the product primarily during the __________ stage of the PLC. A-Introduction B-Growth C-Maturity D-Decline E-All of the above.

Procter & Gamble (P&G) markets its Pringle's potato chips brand using the same product formulation in each international market. It is able to satisfy 80% of world demand through only six flavors and one package design. P&G is using a(n) ____________. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

Producers employ a wide range of promotions directed at intermediaries to motivate their selling efforts. Examples include dealer contests for middlemen's sales personnel, trade shows, slotting fees for retailers, and promotional allowances. These promotional tools are considered to be elements ____________ promotion. A-Push B-Pull C-Primary demand D-Selective demand E-Distributor.

Retailers work hard to design in-store sensory environments that postively affect one or more of consumers' five senses in order to increase the likelihood of a positive emotional experience. These retailers are focusing on creating positive __________. A-Internal atmospherics B-Internal personality C-Interior position D-Interior brand image

Rolex has used the same simple positioning message of elegance, precision, and durability for decades in all its global markets. It is the world's 72nd most dominant brand. The Rolex global marketing strategy is a(n) ___________. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

Sales promotions, such as coupons and free samples, are employed to induce trial primarily in the ______ stage of the PLC. A-Introduction B-Growth C-Maturity D-Decline E-All of the above.

The use of ____________ is most appropriate for consumers engaged in low involvement decisions. A-Advertising and sales promotion B-Advertising and personal selling C-Personal selling and sales promotion D-Personal selling and publicity E-Sales promotion and publicity.

South Africa's De Beers, the world's largest diamond producer, uses glossy high-image advertising with little copy in upscale publications to convey its prestige messages in all international markets served. The same message and associated marketing program are employed in all its markets. De Beers is using a(n) ______. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

South American business persons prefer to sit close to other another—truly nose-to-nose or side-by-side—when discussing business affairs. The American business person's propensity is to back away when someone infringes on his or her personal space. These are examples of ____________ impacting a firm's potential global marketing strategy. A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates.

The Gulfport Cycle Shop bought two motorcycles for a total of $2,000 and sold each one for $1,500. The markup percent(based on selling price)was closest to: A-30% B-43% C-50% D-53% E-55%

The US sugar industry has been protected from excessive foreign competition through America's imposition of __________ on imported sugar from other nations. A-Import quotas B-Trade barriers C-Revenue tariffs D-Protective tariffs. E-Embargos.

The ____________ also mandates that accounting controls be in place for purposes of monitoring the potential use of incentives by domestic firms for soliciting sales in foreign countries. Violations of the law can result in individuals being fined and, potentially, imprisoned. A-Foreign Corrupt Practices Act B-Trade Act C-Export Trading Act D-Robinson-Patman Act E-Sherman Anti-Trust Act.

The acronym IMC stands for ________. A-Integrated Marketing Communications B-Integrated Management Communications C-Integrated Marketing Channels D-Important Marketing Concepts E-None of the above.

The average French husband uses about twice the amount of cosmetics and grooming products as his wife. Germans, the French, and Americans eat more packaged and branded spaghetti than Italian consumers. These are examples of ____________ impacting a firm's potential global marketing strategy A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates.

The break-even point is: A-The level of sales where total revenue equals total costs B-The level of sales which maximizes profit C-The total profit likely to be earned at a given price D-Where supply equals demand

The classification system for in-store retailers employed in the text is based on the ______________ of the retailer. A-Merchandise mix B-Degree of effort consumers expend in visiting facilities C-Location D-Size E-Type of ownership.

The form of F.O.B. pricing in which the buyer fundamentally pays all shipping and handling costs is: A-F.O.B. Mill B-F.O.B. Destination C-F.O.B. Point of Origin D-F.O.B. City Limits E-F.O.B. Basing Point

The inventory numbers given to products stocked by retailers are called: A-Stock Keeping Units B-Retail Inventory Units C-Slotting Units D-Stocking Inventory Units

The main difference between agent middlemen and merchant wholesalers is: A-That agent middlemen do not own the products they sell--while merchant wholesalers do. B-That no agent middlemen physically handle products--while all merchant wholesalers do. C-Their attitudes regarding the marketing concept. D-The kind of selling they do. E-There is no difference--an agent middleman IS a merchant wholesaler.

The method of advertising budgeting in which the budget is set based the ability of the budget to achieve specific adverting objectives is the ____________ . A-Objective and task method B-All-you-can afford method C-Percent of sales method D-Comparative parity method

The price for a gallon of 2% milk costs Kroger's $1.20 and Kroger's wants a 50% mark-up. The resulting selling price to Kroger shoppers is $1.20 + .5($1.20)=$1.80. This is an example of __________ pricing. A-Mark-up based on cost B-Mark-up based on selling price C-Value D-Break-even pricing

Two-sided ads present both the positives and negatives for brand and then usually attempt to refute the negatives. The effectiveness of such as is explained by: A-Consumer tendencies to counter-argue with the positive points may be diffused due perceived increased credibility of the ad B-The "recency effect" in which the negatives are presented first and, therefore, overwhelmed by the positive points presented last C-The "primacy effect" in which the positives are emphasized more than the negatives D-None of the above. There is no evidence that two-sided ads work any better than one-sided ads.

US business people prefer to get right to business and pursue tough "fast-to-fast" negotiating tactics. Chinese, Japanese, and other Asian business people prefer to converse and socialize politely before entering business discussions. These are examples of ____________ impacting a firm's potential global marketing strategy. A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates

Using __________ firms attempt to communicate their positions on important issues. The purpose is to influence the opinions of targeted audiences concerning the issue. Often the general public is the primary target audience. A-Advocacy advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising

When consumers "co-create" product/service concepts with firms by interacting with firms through social media, online marketing domain involved is __________ . A-C2B B-B2C C-C2C D-B2G E-C2G

When employing life cycle pricing for industrial products, any training, installation, design, and retooling costs are classified as ______. A-Start-up costs B-Marginal costs C-Post-purchase costs D-Investment costs.

When employing life cycle pricing for industrial products, which of the following costs to the buyer are not considered? A-Marginal costs B-Post-purchase costs C-The final sales price. D-Start-up costs

When firms employ a one-product, one-message marketing mix to tap all foreign markets and this program is basically the same as their domestic marketing program, they are employing as ________. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

When pricing objectives center around generating sales volume, (--------------------------) strategies that focus on low prices are appropriate. Demand is assumed to be price elastic. A-Demand generation B-Premium pricing C-Product line pricing D-Competitive pricing.

When production stops (i.e. no units produced), _________becomes zero. A-Variable costs of production. B-Marginal costs. C-Total costs. D-Fixed production costs. E-Total fixed costs.

When promotion is used to encourage consumers to purchase less, or at a later date, they are attempting to reduce demand for the advertised product. This promotion objective is called ________ . A-De-marketing B-Demand reduction marketing C-Controlled marketing D-Demand off-set marketing E-Re-marketing.

When the US places limits on the amounts of certain products that can be imported into this country, they are employing ____________. A-Administrative tariffs B-Trade barriers C-Revenue tariffs D-Protective tariffs.

When the US places limits on the amounts of certain products that can be imported into this country, they are employing ____________. A-Import quotas B-Trade barriers C-Revenue tariffs D-Protective tariffs.

Which global marketing strategy yields the longest production runs, lowest costs, and reinforces the "universality" of a brand's global image? A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

Which of the following is false concerning the importance of global marketing? A-Most large international firms are headquartered in the US B-The proportion of US goods exported to other countries has doubled in the last 10 years C-International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets D-American-made goods are favorably perceived in many foreign countries E-Marketing via the Internet has become increasingly easy and has opened international markets.

Which of the following is not a key question a firm must address when deciding whether it should "go global?" A-Are the firm's domestic sales sufficient to finance a move to global markets? B-Can the firm adapt is business model to accommodate differences in global cultures and supply chain structure? C-Can the firm identify, understand, and effectively respond to differences in consumer preferences and buying behaviors in global markets? D-Does the firm have the relevant expertise and experience to target global markets? E-Is the firm capable of managing and responding to the varying legal requirements in global markets?

Which of the following is not a potential reason why firms should consider engaging in global marketing? A-By going global firms can avoid the risks associated with fluctuating exchange rates B-Foreign firms who are potential competitors may enter domestic markets with superior products. Domestic firms may need to counter-attack in the foreign firm's home country to force that firm to reallocate resources C-International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets D-American-made goods are favorably perceived in many foreign countries E-Marketing via the Internet has become increasingly easy and has opened international markets.

Which of the following is not a response by supermarkets to improve their profit margins? A-Reduced reliance on techology to cut costs B-Vendor assistance to help manage inventory and restock shelves C-Adding higher margin non-food product lines and services D-Adding private lable brands E-Using promotional mechanisms to build store loyalty.

With ______ promotion, advertising and other promotion techniques are directed at intermediaries to convince them to stock the advertiser's products. A-Push B-Pull C-Primary demand D-Selective demand E-Distributor.

With ________ promotion strategies producers heavily promote to wholesale and retail intermediaries. In turn, retailers actively promote the product to ultimate consumers. This strategy relies heavily on the aggressive selling efforts of the manufacturer's sales force to work with wholesalers and/or retailers. A-Push B-Pull C-Primary demand D-Selective demand E-Distributor.

With __________ a US firm reaches an agreement with another firm in the targeted foreign market. In exchange for a royalty payment or fee, the foreign-based firm acquires the right to use a US firm's manufacturing process, brand or trademark, trade secret or patent, or some other item that delivers differentiating value. A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

With __________ the IMC budget is set at some fixed percentage of the previous year's sales or next year's forecasted sales. A-Percentage of sales B-Objective and task C-Competitive parity D-All-You-Can-Afford.

With __________ the marketer takes over those supply chain functions initially performed by third-party providers. Risks, as well as the costs of financial investments, rise as this strategy is employed. A-Direct exporting B-Indirect Exporting C-Joint Venturing D-Licensing E-Contract manufacturing.

With ___________ IMC budgeting, the magnitude of sales determines the size of the budget, rather than promotion driving sales. A-Percentage of Sales and All-You-Can Afford B-Percentage of Sales and Objective and Task C-Competitive parity and Percentage of Sales D-All-You-Can-Afford and Objective and Task.

With respect to assessing advertising effectiveness the number or percentage of consumers in a particular target audience exposed to a specific advertising message in a given period of time is called __________. A-Reach B-Frequency C-Delivery D-Scope E-Spread

With respect to the Communications Process, the promotional medium selected to transmit the message to the receiver is called ____________ . A-The communications channel B-Transport network C-Communications network D-Conveyance channel E-Transmission medium.

______ are forms of sales promotion directed at the sales force with the objective of motivating or incentivizing extra effort and improved performance. A-Contests B-Sweepstakes C-Party plans D-Spiffs E-Sales competitions.

_______ involves every department in the firm becoming involved in developing and communicating messages to customers, channel members, other stakeholders, and publics to create a unified image of the organization and its products. A-IMC B-TTT C-WOM D-eWOM E-PLC.

_______ is variously called rent, tuition, interest, fee, toll, wage, commission, dues, salary, bribe, blackmail, and more. A-Price B-Value C-Exchange D-Utility E-Barter.

_________ are combination supermarkets and discount stores with additional services such as fast food restaurants, dry cleaning, banking, check cashing, automobile servicing, and optical centers. A-Supercenters B-Specialty stores C-Discount stores D-Category killers E-Department stores.

_________ are essentially refunds that amount to price reductions for products already purchased. A-Rebates B-Coupons C-Contests D-Push money E-Samples.

_________ are groups of two or more retail stores operated by the same entity. A-Chain stores B-Independent retailers C-Corporate chains D-Internet retailers E-Rack jobbers.

_________ is any form of one-way, paid communication delivered en masse through electronic, print, or Internet-based media with the purpose of informing, reminding, or persuading. A-Advertising B-Personal selling C-Sales promotion D-Publicity E-Public relations.

__________ are employed when advertisers refuse to engage in the consent decree. The FTC can this remedy to force Firms to remove offending communications from circulation. A-Cease and desist order B-Consent decree C-Corrective advertising D-Fines.

__________ consists of ads that are linked to searches conducted by consumers via online search engines. A-Contextual advertising or search engine advertising B-Display advertising C-Email advertising D-Search-based advertising.

__________ is the amount of money or other form of remuneration that is charged for products or services. A-Price B-Value C-Exchange D-Utility E-Barter.

___________ are employed to gain attention and, hopefully, create a positive "affective" response to the ad that can rub off on the product. The idea is "like the ad, like the brand." A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

___________ are more appropriate when the sales force is divided into sales territories in which each sales person manages an exclusive territory. A-Geographically organized sales forces B-Customer-based sales force organizations C-Product-based sales force organizations D-Functional sales force organizations

___________ include stores such as Ross Dress For Less, Dress Barn, T.J. Maxx, DSW Designer Shoe Warehouse, and Marshall's. A-Off-price retailers B-Specialty stores C-Factory outlets D-Category killers E-Department stores.

____________ are slowly dying and probably will be phased out incrementally as consumer demand shifts in favor of the greater convenience of e-commerce and preferences for smaller, local retail facilities over big-box retailers. A-Supercenters B-Specialty stores C-Discount stores D-Category killers E-Department stores.

____________ attempt to elicit affective or emotional responses from target audiences using humor, fear, and sex. A-Emotional appeals B-Rational appeals C-Functional appeals D-Benefit appeals E-Utilitarian appeals.

____________ has evolved to reduce some of the more egregious aspects of traditional door-to-door selling. With this form of selling, salespeople recruit prospects to host get-togethers at their homes or their places of work. A-Party plan selling B-Direct selling C-In-home selling D-Sponsored selling E-Group selling

____________ include such forms as customs barriers, quotas on the amount of product that can be imported, export subsidies, or unnecessarily restrictive standards for imported goods. A-Administrative tariffs B-Trade barriers C-Revenue tariffs D-Protective tariffs.

____________ is any form of communication that is conveyed via a "non-personal medium." A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

_____________ treaties with other world governments are international legal agreements that generally establish terms for a variety of marketing relationships between firms operating in the United States and firms operating in foreign nations. A-Friendship, Commerce, and Navigation (FCN) B-International trade C-International negotiation D-Global trade E-Foreign trade.

A ______ promotion strategy builds sales by promoting aggressively to the final buyer, usually the ultimate consumer. By stimulating demand with the final buyer, intermediaries are forced to stock and sell the product to satisfy this demand. A-Push B-Pull C-Primary demand D-Selective demand E-Distributor.

A full-service wholesaler in Dallas takes title to the products it stocks and sells i.e. a complete line of home repair products for small, independently owned hardware stores. This wholesaler is a: A-Broker. B-Specialty (limited line) wholesaler. C-Truck distributor. D-Manufacturers' agent E-General merchandise wholesaler

A lengthy series of past data relating sales to prices is required for constructing demand curves using: A-Test market data B-Historical ratios C-Laboratory experiments D-Buy response data E-None of the above.

A retail firm that uses leader pricing is: A-Engaged in legal, but unethical price gouging. B-Cutting the regular price on a few items with the hope of attracting customers. C-Leading the industry in pricing and encouraging its competitors to raise their prices, too. . D-Selling its most popular products at higher prices. E-Raising the price of its best-selling products

A(n) _________ is the price of one nation's currency—the nation's dollar, pound, Euro, yen—in terms of another nation's currency. A-Monetary base B-Exchange rate C-Interest rate D-Utility rate E-Currency valuation rates.

Advertising in which brands are directly compared against one another are called _______ . A-Competitive ads B-Comparative ads C-Two-sided ads D-Multi-brand ads E-Positional ads.

By computing the advertising budget using ____________ , advertisers are implicitly, and incorrectly, assuming that sales causally drive advertising expenditures. A-Objective and task, competitive parity B-All you can afford, percent of sales C-Percent of sales, objective and task D-Competitive parity, all you can afford E-None of the above.

Cash discount terms of 2/10, net 60 on an invoice would--in effect-- amount to borrowing at an annual interest rate of about ________ percent if the buyer did not pay the invoice within the 10 days allowed. A-72 B-14 C-18 D-36 E-22

Chain stores with 11 or more retail units or locations are technically called as ______________ . A-Multi-unit chains B-Corporate chains C-Independent retailers D-Rack jobbers E-Superstores.

Comparative advertising in which competing brands are directly identified in advertising messages is employed beginning in this product life cycle stage. A-Introduction B-Growth C-Maturity D-Decline

Determining the Big Idea is part of the ______________ stage of advertising strategy development. A-Selecting advertising media B-Creating the advertising message C-Determining advertising objectives D-Executing advertising strategy E-Identifying the target audience.

During the ____________ stage of the PLC, advertising objectives shift to communicating brand superiority by promoting the brand's differentiating characteristics relative to competing brands. A-Introduction B-Growth C-Maturity D-Decline

During the introductory stage of the product life cycle the promotion objectives are to stimulate primary demand by communicating product benefits, create brand awareness, and stimulate trial. The most appropriate form of promotion to accomplish these tasks are __________ . A-Advertising and personal selling B-Advertising and sales promotion C-Advertising and publicity D-Personal selling and sales promotion E-Publicity and public relations.

Firms that are pursuing a strategy of price competition are more likely to: A-Employ follow-the-leader pricing in order to avoid price wars in their industry B-Aggressively use lower prices to buy market share from competitors C-Set prices higher than competitors to signal greater value to buyers D-Set prices lower than competitors to enhance the quality images of their brands. E-Price their brands in a comfortable competitive range to avoid "rocking the boat."

Firms typically will attempt to characterize likely customers in terms of easily identifiable geographic and demographic characteristics and then employ various directories and databases to locate people with these characteristics. This step in the personal selling process is ___________. A-Approach B-Prospecting C-Qualifying D-Presentation E-Close.

For which of the following products would a retailer be LEAST likely to use odd pricing? A-Chewing gum B-A designer evening dress C-Lean Cuisine diet meals D-Reams of computer paper E-Bic cigarette lighters.

Ford Motor, recently introduced a new, low-priced, and smallish model called the Figo in India. The Figo is targeted at tens of millions of Indian consumers who are only now able to afford their first car. This is example of ____________ impacting a firm's potential global marketing strategy. A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates.

Grainger Worldwide buys a wide range of industrial products (mainly maintenance, repair, and operating supplies) from manufacturers and resells these products to other business users. Grainger is a _____________ . A-Retailing intermediary B-Wholesaling intermediary C-Facilitating agent D-Manufacturer's agent E-Broker.

Grainger Worldwide buys a wide range of industrial products (mainly maintenance, repair, and operating supplies) from manufacturers and resells these products to other business users. When making sales to its customers, Grainger is engaged in _____________. A-Retailing B-Wholesaling C-Channel management D-Logistics E-Distribution management.

In Russia, greeting cards are not sent to men celebrating their 40th birthdays. Traditional Russians still honor the belief that big events or gestures intended to celebrate this milestone are tantamount to inviting "the Death" into his life. Hallmark does not produce and sell 40th birthday greeting cards in Russia. Hallmark is using a(n) _________ for tapping the Russian market. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

In addition to regulating discriminatory pricing activities, the ___________ also limits firms' use of promotional allowances as they attempt to incentivize middlemen. A-FTC Act of 1914 B-Robinson-Patman Act C-Lanham Trademark Act D-Trademark Law Revision Act.

In order to offset the competitive disadvantage of FOB plant pricing, Texas Granite Company in Dallas could use _____ pricing to ship its products to building contractors and furniture restorers in any part of the United States. A-Uniform delivered B-Freight-absorption C-Zone-delivered D-Market-skimming E-Market-penetration.

In the price setting process, __________ are the fundamental approaches to setting and managing price to achieve the firm's objectives. A-Price objectives B-Price strategies C-Price tactics D-Pricing techniques and tools E-None of the above.

Jenny Craig has used Marie Osmond as a celebrity spokesperson to endorse its program and products. This an example of _____________. A-Demonstration advertising B-Testimonial advertising C-Lifestyle advertising D-Slice of life advertising E-Sex appeal advertising.

Jerry's Used Cars advertises some of its cars at prices that are "too good to be true." When potential customers visit the car lot, they are told that these cars have already been sold and try to show the prospects alternative cars at higher prices. Jerry's is using __________ . A-Quality pricing B-Bait pricing C-Skimming pricing D-Captive pricing E-Predatory pricing.

Joe Duncan sells a wide assortment of "emergency" home repair items (fuses, electrical tape, small packets of nails) to grocery and convenience stores. He owns the products he handles, provides the shelves and stocks the display, and monitors the inventory for his customers. Joe is a: A-Selling agent B-Rack jobber C-Cash & carry wholesaler D-Truck wholesaler (jobber) E-Manufacturers' agent.

John is considering the purchase of a new car. As he evaluates the brands in which he is most interested he is becoming increasingly concerned with the trade-offs between performance, style, quality, and comfort and price. He is also beginning to think about the other "costs" of acquiring the car such as what others will think of his choice. John apparantley is evaluating the ___________ of the alternatives being considered. A-Risks B-Relative values C-Utilities D-Merits E-Exchange rates

The movement of parts and materials from their sources of supply into the manufacturing process is ___________ . A-Logistics management B-Materials management C-Physical distribution D-Supply chain management

Lowe's, Home Depot, Staples, Target, Walmart, Barnes & Noble, Bally's or LA Fitness Health Clubs, PETSMART, Old Navy, Best Buy, Bed, Bath & Beyond, and Toys-R-Us are typically located in ____________. A-Neighborhood centers B-Community centers C-Regional centers D-Power centers E-Factory outlet malls.

Managing media relations, publicity, lobbying, and investor relations are generally handled by the firm's ___________. A-Advertising department B-Public relations staff C-Marketing manager D-Purchasing manager E-CEO.

Marriott is considering opening an autograph series hotel in El Paso, Texas. The hotel will be in a converted downtown bank building. Estimates are that the hotel must average an occupancy rate of 57% to break-even. Based on historical sales data for its other autograph series hotels in similar cities, an average occupancy rate of 63% can be expected. What would be your recommendation to Marriott's management? A-Do not open the hotel, as break-even is less than projected occupancy rates B-Open the hotel since break-even is less than projected occupancy rates C-Do not open the hotel since break-even is greater than projected occupancy rates D-Open the hotel since break-even is greater than occupancy projections.

Merchant wholesalers: A-Are the smallest segment of wholesaling firms when measured by number of establishments. B-Are independently owned firms that engage primarily in wholesaling and take title to products being distributed. C-Are independently owned firms that do not take title to the products being distributed. D-Are manufacturer-owned organizations that perform primarily wholesaling tasks for their owner companies. E-Engage in both wholesaling and retailing activities for manufacturers and consumers.

Michelin's ads emphasizing keeping one's family safe by selecting the correct tires and American Cancer Society ads aimed at de-marketing cigarettes and other tobacco products are among the better examples of _____________. A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

Mild claims of superiority in advertising are referred to as _________. A-False advertising B-Puffery C-Misleading advertising D-Deceptive advertising

Most firms begin their global marketing efforts using _____________ . This is the simplest and least risky method for entering foreign markets. A-Direct exporting B-Indirect Exporting C-Joint Venturing D-Licensing E-Contract manufacturing.

Navarro Electronics Instruments, a Denver-based producer of sophisticated test equipment employed in non-destructive testing, wants to tap the growing market for non-destructive testing in the Gulf states. Navarro uses its own sales force for its current market, but does not want to invest in additional sales reps in the Gulf until the market proves itself. Navarro would be wise to use a(n) to initiate sales on the Gulf states. A-Commission merchant B-Manufacturers' agent C-Selling agents D-Broker

New York Steel Co. is trying to sell high grade stainless steel to a customer located in Denver Colorado. However, extremely high shipping costs make New York Steel's product more expensive to buyers than steel sold by a local producer in Pueblo Colorado. New York Steel should consider using which form of F.O.B pricing? A-F.O.B. Mill B-F.O.B. Destination C-F.O.B. Point of Origin D-F.O.B. Basing Point E-F.O.B. Zone

One of the major difficulties of zone-delivered pricing is determining zone boundaries _____________ . A-That have the same number of customers B-So as to avoid charges of illegal price discrimination C-That are equal in dollar sales potential D-Such that the prices are the same for each zone E-That are equal in geographic size.

Organic Specialties sells organic mixes for soups. The company produces 5,000 packages per day. The total variable cost for making one bag of Organic split pea soup is $3. The average fixed cost per bag is $.90. The company charges $6.50 per bag and earns a 40 percent profit. Calculate the break-even point in units. A-1,200 B-1,300 C-1,400 D-1,500 E-1,600.

POP in sales promotion terminology stands for _________. A-Placed on Promotion B-Point of Purchase C-Power of Promotion D-Point of Promotion E-Power of Purchase.

Persuasive advertising is employed mainly to: A-Create primary demand for product categories B-Create selective demand for individual brands C-Remind consumer of a brand's availability at specific retail locations D-Stimulate an immediate sale within a retail store E-All of the above.

Postage stamp pricing is technically termed: A-Zone Delivered pricing B-Uniform Delivered pricing C-F.O.B. Mill pricing D-F.O.B Delivered pricing

Prices for products are usually at their highest point during the ________________ stage of the product's life cycle. A-Conceptualization B-Introduction C-Maturity D-Decline E-Harvesting.

Procter and Gamble employs extensive television and print advertising to create demand for its personal care products with consumers. Coupons, gifts, and premiums are employed at the point of purchase to stimulate trial and brand switching behaviors, as well as to create brand preference. P&G is employing a _________ promotion strategy. A-Push B-Pull C-Primary demand D-Selective demand E-Distributor.

Products that are intended to convey prestigious or high quality images usually are priced _____________ . A-Lower than other brands in the product category B-Higher than other brands in the product category C-Competitively with lower priced versions of the product D-To avoid accusations of predatory pricing. E-To avoid scutiny by the FTC for possible price fixing.

Retailers like The Gap, Victoria's Secret, Bath & Body Works, or Barnes & Noble Booksellers, Hardrock Café, Red Lobster, and On The Border are classified as: A-Off-price retailers B-Specialty stores C-Factory outlets D-Category killers E-Department stores.

Rocky Mountain Furniture Co. has total fixed costs of $100,000 a year. The owner estimates that average variable costs for its products are $135 next year. Products are sold directly to retailers through a broker. The broker's commission is included in the estimate for variable costs. The average selling price to retailers will be $175. If total industry sales are expected to be about $5,000,000 next year, what market share does Rocky Mountain Furniture need to break even? (Select the closest answer) A-5% B-10% C-15% D-20% E-25%

Sales promotions are employed to solicit interest in a firm's products. The objective is to generate interest that leads to requests for further information. This step in the personal selling process is ___________. A-Approach B-Prospecting C-Qualifying D-Presentation E-Close.

Six ounces of Keith's Gourmet Beef Jerky sells for $10.50. The fixed costs for its manufacturer totals $5,000,and each 8-ounce package of beef jerky has a variable cost of $6.50. Compute the dollar break even point. A-$13,000 B-$13,100 C-$13,200 D-$13,300 E-$13,400.

The "law of demand" is associated with: A-Demand curve in which demand increases as price increases. B-Demand decreases as price increases. C-Demand curves in which demand is only price elastic D-Demand curves in which demand is only price inelastic E-None of the above.

The __________ of 1988 provided more specific descriptions of the sort of practices that were prohibited under the Foreign Corrupt Practices Act. A-Foreign Corrupt Practices Act B-Trade Act C-Export Trading Act D-Robinson-Patman Act E-Sherman Anti-Trust Act.

The _____________ method of budgeting is the best approach to employ, although not normally the easiest. A-Percentage of sales B-Objective and task C-Competitive parity D-All-You-Can-Afford.

The communication process inherent in _____________ is useful for ascertaining the customer's wants and needs, imparting customized information to customers about products or services, and for developing customer relationships, even if the contact does not immediately result in a "sale." A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

The disadvantages of licensing as a means for US firms to enter foreign markets include all but the following: A-Reduced control over how it's products are produced and marketing in the foreign country B-Increased costs associated maintaining the licensing arrangement. C-An alternative entry strategy may have been more profitable, particularly is the product gains substantial sales D-After developing an expertise and market for the licensed product, the licensee may break from the licensing arrangement and become a direct competitor with the US-based firm in the foreign market.

The final step in the price setting process is __________. A-Setting price objectives B-Managing price. C-Identifying price strategies D-Setting base price E-Adjusting base price with various discounts and allowances

The first step in the advertising process is to ___________ . A-Establish advertising objectives B-Identify the target audience C-Determine the advertising budget D-Execute the advertising strategy E-Determine advertising strategy.

The form of F.O.B. pricing in which the seller fundamentally pays all shipping and handling costs is: A-F.O.B. Mill B-F.O.B. Destination C-F.O.B. Point of Origin D-F.O.B. City Limits E-F.O.B. Basing Point

The forms of promotion most important for lower unit value consumer convenience goods are: A-Advertising and personal selling B-Advertising and sales promotion C-Advertising and publicity D-Personal selling and sales promotion E-Publicity and public relations.

The major distinction between a retail and a wholesale transaction is: A-Whether the seller is a wholesaler or a retailer. B-Whether the product will be used by an organization or by a consumer. C-Whether the seller procured the product from a retailer or a wholesaler. D-Whether the product involved is sold at a wholesale or a retail price. E-The quantity of goods involved.

The method of advertising budgeting in which the budget is set based on how much money is left after covering all other expenses is the ____________ . A-Objective and task method B-All-you-can afford method C-Percent of sales method D-Comparative parity method

The most common channel of distribution for consumer goods is _______ . A-Direct from producer to consumer B-Producer --> Wholesaler --> Retailer --> Consumer C-Producer --> Retailer --> Consumer D-Producer --> Agent --> Retailer --> Consumer

The most common form of mark-up pricing, and the form of mark-up pricing to be used on all exams unless told otherwise is: A-Mark-up based on cost B-Mark-up based on selling price C-Value mark-up D-Break-even mark-up

During the _________ stage of the PLC, a major purpose of advertising is to "buy market share" from competitors. A-Introduction B-Growth C-Maturity E-Decline

The primary factor that distinguishes between a merchant wholesaler and an agent is: A-The agent takes title; the wholesaler does not. B-The wholesaler takes title; the agent does not. C-The wholesaler provides many more services than does the agent. D-Wholesalers account for a larger sales volume than do agents E-None of the above

The purpose of ___________ to create awareness and trial for new products that are in the introductory stages of their product life cycles. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

The reason why ____________ are important is that fluctuations make a nation's currency more or less valuable in comparison to other nations' currencies A-Monetary bases B-Exchange rates C-Interest rates D-Utility rates E-Currency valuation rates.

The simplest remedy available to the FTC against firms charged with false, misleading, or deceptive advertising is __________ . A-Cease and desist order B-Consent decree C-Corrective advertising D-Fines.

The term _________ means that a domestic marketer ships goods or delivers professional services outside the country in which the marketer is located. A-Direct investment B-Exporting C-Joint Venture D-Licensing E-Contract manufacturing

The value-pricing technique in which a selling price for industrial products is set by comparing the total life-time costs of the seller's product with a competing reference product is ____________ . A-Cost comparison pricing B-Life cycle pricing C-Breakeven pricing D-ROI pricing E-Experience curve pricing.

Underdeveloped but emerging nations cannot afford the technical equipment that is the backbone of more developed, or industrialized, nations. This is example of ____________ impacting a firm's potential global marketing strategy. A-Cultural differences B-Economic factors C-Political factors D-Trade barriers E-Exchange rates.

Using the ____________ budgets are set by first identifying exactly what communications objectives are being pursued and then setting the budget to achieve them. A-Percentage of sales B-Objective and task C-Competitive parity D-All-You-Can-Afford.

Weight loss products often use _______________ showing real people endorsing a product because they have successfully used the product to lose weight. A-Demonstration advertising B-Testimonial advertising C-Lifestyle advertising D-Slice of life advertising E-Celebrity advertising.

Wendy's fast-food restaurant chain priced several of its more popular menu items at $.99 while raising the price of some of its upgraded meal deals. This pricing strategy is an example of _____ pricing because the chain is trying to improve the customer's perception of the ratio of benefits received to the product's price. A-Fair trade. B-Value. C-Psychological. D-Cost-plus. E-Penetration.

What are the 3 layers of dashboards? A-Systematic, Operational, Tactical B-Executive, Operational, Tactical C-Operational, Operational, Tactical D-Executive, Systematic, Operational E-None of the above

When Hallmark markets Happy Birthday [Mom or Dad] greeting cards in Japan, messages are far more ceremonial and formal. This change illustrates a(n) _________ for penetrating an international market. A-Straight extension strategy B-Product adaptation strategy C-Promotion adaptations strategy D-Dual customization strategy E-New product development strategy.

When consumers engage in high-involvement, extensive decision making, for major durable goods, which elements of the promotional mix should be emphasized? A-Advertising and sales promotion B-Advertising and personal selling C-Personal selling and sales promotion D-Personal selling and publicity E-Sales promotion and publicity.

When media are scheduled based on sales patterns that show no seasonality with advertising spread evenly throughout the year, a _____________ media schedule is being employed. A-Flighting B-Continuity C-Pulsing D-Constant E-Hybrid.

When pricing objectives suggest that price should be used as a cue or signal meant to produce a high quality or prestige image for the product, a ___________ strategy is appropriate. Demand is assumed to be highly price inelastic. A-Demand generation pricing B-Premium pricing C-Product line pricing D-Competitive pricing

When promotion messages are complex or when products benefits must be extensively demonstrated (e.g. computers, vacuum cleaners, DVD players), _________ is more appropriate. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

When the US dollar is devalued relative to, say, the Euro, US goods purchased in foreign counties using the Euro tend to be ___________. A-More expensive B-Less expensive C-Equally priced since prices are set by producers well before exchange rates have changed D-The valuation of the dollar has no effect on sales of US goods in foreign markets.

Which of the following is not a function of public relations? A-Building excitement for new product launches. B-Getting the firm's message to mass audiences very quickly. C-Introducing new products with limited associated advertising. D-Defending or improving the firm's image. E-Providing value-added customer services.

Which of the following is not a key question a firm must address when deciding whether it should "go global?" A-Can the firm offer products that will be competitive in global markets? B-Can the firm be sure that it can use its current business model in global markets? C-Can the firm identify, understand, and effectively respond to differences in consumer preferences and buying behaviors in global markets? D-Does the firm have the relevant expertise and experience to target global markets? E-Is the firm capable of managing and responding to the varying legal requirements in global markets?

Which of the following is not a major trend associated with IMC? A-From preferred use of traditional marketing communications to greater engagement with digital/interactive communications. B-From the employment of large, corporate advertising firms to greater reliance on smaller, more specialized advertising production houses. C-From greater use of mass media (ABC, NBC or CBS, or Time magazine) to more specialized media (Twitter, Instagram, and Spotify). D-From low-accountability in the terms of the effectiveness of communication expenditures (i.e., what advertisements are and are not working effectively) to high-accountability in terms of communication-spend effectiveness. E-From limited, one-way buyer-seller connectivity to more pervasive, two-way (reciprocal) connectivity

Which of the following is not a potential reason why firms should consider engaging in global marketing? A-By going global firms can avoid the risks associated with fluctuating exchange rates B-Foreign firms who are potential competitors may enter domestic markets with superior products. Domestic firms may need to counter-attack in the foreign firm's home country to force that firm to reallocate resources C-International markets may provide more new, currently underserved prospective customers, and a domestic firm may be uniquely positioned to satisfy them. D-Laws and constraints on producing and marketing some products in domestic markets may be avoided in foreign markets E-Marketing via the Internet has become increasingly easy and has opened international markets.

Which of the following is not a response by supermarkets to improve their profit margins? A-Increased use of technology to improve customer service B-Reduced reliance on vendor assistance to help manage inventory and restock shelves C-Adding higher margin non-food product lines and services D-Adding private lable brands E-Using promotional mechanisms to build store loyalty.

Which of the following is not considered to be joint venturing for penetrating foreign markets? A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership

With _________ promotion, advertising is directed at ultimate consumers in order stimulate demand and influence intermediaries to stock the product advertised. A-Push B-Pull C-Primary demand D-Selective demand E-Consumer.

With ____________ IMC budgeting, the overall budget is built up from specific budgets allocated to each promotional activity that is needed to achieve objectives. A-Percentage of sales B-Objective and task C-Competitive parity D-All-You-Can-Afford.

With respect to assessing advertising effectiveness the number of times consumers comprising a target audience are repeatedly exposed to a given message during a specified period of time is called _______. A-Reach B-Frequency C-Rating Points D-Delivery Count E-Repeat Rate.

With respect to the appeals than can be employed in promotion, the type of appeal that emphasizes communicating information about concrete benefits, functions, or characteristics that are associated with the product are called ______ . A-Emotional appeals B-Rational appeals C-Functional appeals D-Benefit appeals E-Utilitarian appeals.

With respect to the personal selling process, _______ is the process of identifying potential customers and is the first step in the personal selling process. A-Approach B-Prospecting C-Qualifying D-Presentation E-Close.

With the __________ budgeting approaches, funds allocated to advertising tend to increase when sales rise and decrease when sales decline. A-Objective and task, competitive parity B-All you can afford, percent of sales C-Percent of sales, objective and task D-Competitive parity, all you can afford E-None of the above.

With which geographic pricing strategy is the seller likely to have the lowest freight charge? A-Freight absorption pricing. B-FOB mill pricing. C-Uniform delivered pricing. D-Geographic pricing. E-Zone-delivered pricing.

_______ is the ratio between the utility you receive from a product and the price you give up in exchange for that product. A-Price B-Value C-Exchange D-Utility E-Barter.

_______ specialize in selling and work on a commission basis. They operate in limited geographic areas and represent two or more non-competing producers. A-Rack jobbers B-Manufacturers' agents C-Selling agents D-Auction companies.

________ is the most important form of promotion for most industrial goods, particularly installations and major equipment, where product customization and demonstration are often essential. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

The ____________ is defined as those prices bounded by customer demand at the high end and costs at the low end. A-Price floor B-Price ceiling C-Competitive price range D-Demand curve E-Optimal price

_________ are specific advertising platforms within the broader advertising media categories of TV, radio, print, and outdoor are called. A-Media platforms B-Media vehicles C-They are just called "media" D-Promotion platforms.

___________ are employed to scare people into buying or not buying and using certain products. A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

____________ are lower quality unauthorized copies of major brands. A-Fake brands B-Counterfeit brands C-Dealer's brands D-Flanker brands E-Foreign.

____________ specialize in specific product lines, often carrying only a single line. The merchandise mixes are described as "narrow" and "deep." A-General merchandise retailers B-Limited line retailers C-Specialized line retailers D-Restricted line retailes.

_____________ is an oral, one-on-one, often face-to-face communication between prospective buyers and sellers. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

______________ is considered to be the only promotional medium capable of "closing" a sale and directly generating revenue for the Firm. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

______________ typically are well-financed and centrally operated. Their size and financial strength provides them with significant scale economies in purchasing and operations. A-Multi-unit chains B-Corporate chains C-Independent retailers D-Rack jobbers E-Superstores.

_______________ exist and operate as the last link in supply chains, primarily making sales to ultimate consumers. A-Wholesaling intermediaries B-Retailing intermediaries C-Agents D-Industrial distributors E-Facilitating agents.

_______________ is used to develop primary demand for the product category, rather than demand for individual brands. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

A _____ consists of the set of people and firms involved in the transfer of title to a product as it moves from producer to ultimate consumer or business user. A-Logistics network B-Production channel C-Distribution channel D-Marketing channel E-Wholesale channel.

A danger with employing zone delivered pricing is that zones may be created that provide competitors in closer zones with lower delivered prices. If these competitors are in direct competition with competitors in more distant zones, competition between these competitors may be substantially damaged due to the price difference. The seller employing zone delivered pricing may be in violation of the: A-Sherman Antitrust Act B-Federal Trade Commission Act C-Robinson-Patman Act D-Clayton Act E-Fair Packaging and Labeling Act

A grocery store chain has decided to sell a small assortment of fast moving hardware items. However, it is not certain what stock to carry in which stores and does not want to leave the decision to the local store manager. The chain could use a: A-Cash-and-carry wholesaler. B-Specialty wholesaler. C-Rack jobber. D-Manufacturers' agent. E-Broker.

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative production volume. Based on the first lot of 1,000 units, AVC are $12.50 per unit. You may assume that this level of AVC is attained at the point where the first 1,000 units are produced. The producer expects an experience constant or rate of about .9. The experience constant or experience rate is interpreted as: A-AVC declines by 90% with each doubling of cumulative output B-AVC declines by 9% with each doubling of cumulative output C-AVC declines by 10% with each doubling of cumulative output D-AVC declines by 1% with each doubling of cumulative output E-None of the above is correct

A manufacturer of a very labor-intensive product wishes to employ the 'experience curve' to predict the AVC associated with various levels of cumulative production volume. Based on the first lot of 1,000 units, AVC are $12.50 per unit. You may assume that this level of AVC is attained at the point where the first 1,000 units are produced. The producer expects an experience constant or rate of about .9. The producer can expect AVC of ____________ with the third doubling (within $.10). A-$10.13 B-$10.35 C-$9.11 D-$9.42 E-None of the above is within the specified boundaries.

A producer has a few territories where many big customers are concentrated, but most of its target customers are spread all over the country. How should the company structure its sales program? A-The company should use sales branches everywhere, since it will cost more to use manufacturers' agents. B-The company will probably have to rely only on manufacturers' agents, since they will only be willing to take the widely scattered markets if they can have the good territories too. C-The company should use its own sales branches in the concentrated territories and agents, probabaly manufacturers' agents, in the others--assuming the concentrated territories are large enough to support sales branches. D-The company should use manufacturers' agents in the best territories and sales branches in the others, since good agents won't work the smaller territories. E-All of the above are good alternatives.

A retailer pays a wholesaler $24.00 for an item and then sells it with a 50 percent markup based on cost. The retailer's selling price is: (Select the closes answer) A-$32.00 B-$48.00 C-$36.00 D-$24.50 E-$40.00.

A small manufacturer of children's clothing wants to expand sales but does not wish to get involved directly with selling or any other marketing activities. The manufacturer probably will opt to employ which form of channel structure for reaching consumers? A-A direct channel to consumer, with sales via the internet B-Selling to wholesalers who, in turn, sell to furniture retailers C-Employing an agent to handle sales to other intermediaries D-Selling directly to large scale retailers of custom furniture.

Advertisers attempt to move consumers through a series of steps beginning with becoming aware of a brand and ending with conviction and loyalty to the brand. This set of steps is referred to as _______ . A-Maslow's Hierarchy of Needs B-The consumer decision making process C-Hierarchy of Communications Objectives D-Pyramid of Promotion Objectives E-None of the above.

Advertising in which a firm's brand is directly compared against those of competitors is called: A-Competitive advertising B-Persuasive advertising C-Comparative advertising D-Manipulative advertising E-None of the above.

All of the following are considered to be economic factors affecting a firm's global marketing strategy except __________. A-Gross domestic product B-Per capita income of individuals C-Trade barriers D-Infrastructure E-Exchange rates.

Assume that a number of Texas oil refiners decide to work together to unformly restrict output with the goal of stablizing declining prices. These firms are likely to be accused of ____________ . A-Price discrimination B-Vertical price fixing C-Horizontal price fixing D-Price lining E-Price bundling.

Communications designed to convince consumers that a brand is the best solution to their purchasing problem are called ____________ communications. A-Reminder B-Informative C-Persuasive D-Educational E-Determina

During the _______ stage of the PLC, advertising is mainly used to announce product improvements, reach additional target segments, and demonstrate new ways that consumers could use the product. A-Introduction B-Growth C-Maturity D-Decline

During the __________ stage of the PLC, the primary role of sales promotions is to tempt consumers into "brand switching." Coupons, point-of-sale devices, premiums, and price incentives are needed to entice consumers away from competing brands. A-Introduction B-Growth C-Maturity D-Decline

For which of the following products would a manufacturer be most likely to offer a seasonal discount? A-Aspirin. B-Weight-training gloves. C-Air conditioning system. D-Microwave ovens. E-Forklift trucks.

HP, in 2007, established two factories in India that manufactured personal computers. At about the same time, HP opened company-owned retail stores in more than 150 Indian cities. This is an example of _______ for penetrating a foreign market. A-Direct exporting B-Indirect Exporting C-Direct Investment D-Joint Venturing E-Contract manufacturing.

Humphrey Studio sells reproductions of European antiques. Last year sales were disappointing. The studio owner decided to increase the price of each item by about 25%. The next year there was a 20% increase in units sold. The studio apparently experienced: A-Profit programming. B-Expected price effects. C-Inverse demand. D-The law of demand. E-None of the above

In break-even analysis, the line labeled "A" represents ________ . A-Total costs B-Total fixed costs C-Total Revenue D-Total Variable Costs

Innovative Technology manufacturers sophisticated electronics components. When setting its budget and projecting costs for its products, Innovative's management knows that with each doubling of cumulative output, they can expect the average variable costs of production to decline by a fixed percentage. Evidently, Innovative is predicting its costs based on _________ . A-Supply and demand relationships B-Anticipated scale economies from production C-The experience curve D-Managerial judgement.

Last summer, to earn money for their college tuition, George and Tom operated a food kiosk at Clearwater Beach, Florida for 3 months. They sold soft drinks, chips, crackers, and candy bars. A month before they were planning to open, Larry found a location that rented for $500 a month and a small refrigerator unit which they rented for $60 per month. Alan found distributors for the food products as well as for the paper products that they would need. Alan also purchased a business license for $80 and bought 3-month's worth of liability insurance for $100. The cups, straws, napkins, and extra sales people needed to staff the stand are all examples of: A-Marginal costs. B-Break even points. C-Variable costs. D-Fixed costs E-Average costs.

Perfumes, jewelry, and designer clothing are often advertised in pleasant settings or usage situations in an attempt to create a positive mood or image for the brand advertised. The advertising appeal employed is ____________. A-Humor appeal B-Fear appeal C-Emotional appeal D-Slice of life appeal E-Life style appeal.

Ralph Lauren displays its Ricky Alligator Bags ($14,000 price tag) next to its Tiffin Bags priced at only $2,500 in an attempt to make the Tiffin Bags appear to provide greater value in comparison. This is an example of ___________ . A-Quality pricing B-Bait pricing C-Reference pricing D-Captive pricing E-Predatory pricing.

Ritchie Bass Construction specializes in demolishing buildings and, as a result, recycles much of the steel recovered from these buildings. Ritchie currently has about 300 tons of steel to sell and is looking for interested buyers. Ritchie probably should seek the services of a: A-A rack jobber B-A scrap jobber C-A broker D-A selling agent.

Savanna is the buyer for a large convenience store chain. A primary supplier has offered Savanna a cash discount on her most recent purchase. The discount has been quoted as: 4/10, net 30. Savanna is wondering whether it is worth her while to take advantage of the discount. As a result, she has decided to compute the implied interest rate her firm would be paying at the invoice due date rather than paying early. Assume a 365 day year. The implied interest rate she computed is approximately (pick the closest answer): A-54% B-18% C-73% D-40% E-120%

Texas Cable Corporation, sells heavy guage wire cable to construction companies around the country. Customers pay shipping from Texas Cable's warehouse in Dallas. Recently, a new competitor in Florida has been taking away some of Texas Cable's Southern customers. If Texas Cable wants to compete in these distant markets, but not increase the cost of its product to other customers, it would probably switch to A-Specifying "F.O.B. Dallas" in its contracts. B-Uniform delivered pricing. C-Freight absorption pricing. D-Zone pricing. E-None of the above would help Texas Cable Corporation with its problem.

The FTC issued a ruling in 1979 that encourages the use of ____________ advertising (as long as the ads are truthful) arguing that consumers are armed with more data upon which to make informed choices. A-Competitive advertising B-Persuasive advertising C-Comparative advertising D-Manipulative advertising E-None of the above.

The Galleria in Dallas is anchored by a Westin Hotel, has an ice-skating rink, offers a fivescreen cinema, and is populated by more than 200 select retail department stores, specialty stores, and restaurants for its patrons to visit. The Galleria is a ____________. A-Neighborhood center B-Community center C-Regional center D-Power center E-Factory outlet mall.

The Robinson-Patman Act (1936) is designed to: A-Prohibit the formation of monopolies B-Regulate the information required on consumer packaged goods C-Regulate price discrimination between producers and their middlemen D-Regulate price discrimination on prices charged consumers E-Prohibit unfair business practices that may restrain trade.

The ____________ is the set of message recipients toward which advertising is directed and may be the market to which the firm's products are targeted. A-Target market B-Intended audience C-Target audience D-Communications target.

The _____________exempts most domestic firms from normal and standard antitrust regulations when they are marketing globally. A-Foreign Corrupt Practices Act B-Trade Act C-Export Trading Act D-Robinson-Patman Act E-Sherman Anti-Trust Act.

The acronym "POD" stands for __________. A-Price of Delivery B-Point of Distribution C-Point of Difference D-Power of Deterrence E-Point of Delivery.

The easiest to use and most frequently employed method of advertising budgeting is the ________ . A-Objective and task method B-All-you-can afford method C-Percent of sales method D-Comparative parity method

The greatest limitation of all cost-based pricing techniques is that: A-It's difficult to estimate a product's costs B-The techniques are very difficult to understand C-The techniques do not take into account demand considerations at the price being set D-Cost-based techniques are only useful to manufacturers and cannot be employed by intermediaries

The majority of retailing establishments in the US today are: A-Chain stores B-Corporate chain stores C-Independent retailers D-Internet retailers E-Franchise stores.

The mark-up pricing technique employed by manufacturers to estimate a suggested retail price (MSRP) is: A-Mark-up based on cost B-Mark-up based on selling price C-Forward chain mark-up pricing D-Backward chain mark-up pricing.

The movement of finished goods from the manufacturer into the hands of final consumers is ____________ . A-Logistics management B-Materials management C-Physical distribution D-Supply chain management

The power of __________ communications is based on the fact that somebody whom the message recipient knows and likes becomes the credible, believable, and trustworthy face of the brand. A-Gossip B-Opinion-leader C-Word-of-Mouth D-Peer-to-Peer

The total fixed costs for a manufacturer of road maps is $25,000, and its unit variable cost is $3. The company sells 20,000 maps and just breaks even. What is the map's selling price? (Select the closest answer). A-$3.75 B-$4.00 C-$4.25 D-$4.50 E-$4.75.

US customers are finally acknowledging that drinking soda may not be good for their health. At the same time governmental, regulatory, and other public interest forces complain continuously about and increasingly threaten the soft drink industry. As a result, the best response by Coca-Cola and other soft drink producers whose revenues are threatened domestically probably is: A-Modifying promotion programs domestically to counter negative perceptions of soft drinks B-Significant price decreases to stimulate added demand C-Further emphasizing sales in global markets to offset declining domestic sales D-New products that will not have the same negative effects and face less criticism by various publics E-All of the above should be done.

Understanding costs faced by the firm when making pricing decisions is important because: A-Costs constitute the maximum possible price that can be charged for a product. B-Prices can never be set lower than costs. C-Prices must be set with a knowledge of the costs required to make and sell the product. D-Prices are not related to costs. E-Costs are directly proportional to prices charged by competitors.

Using the ____________ the buyer asks for a concession, such as free delivery or additional features as part of the sale. A-Assumptive close B-Standing room only close C-Sharp angle close D-Final objection close.

What should be the first step when designing dashboards? A-Choose the metrics B-Acquire the data C-Align marketing and business outcomes

When Nintendo sets a relatively low price on its game units to stimulate more demand for its game cartridges, it is using A-Prestige pricing. B-Price lining. C-Captive product pricing. D-Bundled pricing. E-Bait pricing.

When Nintendo video games were introduced into the United States, they were priced at an introductory price of $299. This price was $100 lower than the Sega games. Nintendo probably used _____ a pricing strategy to quickly gain a large share of the market. A-Market-skimming. B-Market absorption. C-Market penetration. D-Cost-plus. E-Value-set.

When Sears decided to enter Mexico with its retail facilities it engaged in contractual agreements with qualified local manufacturers to produce products that Sears was merchandising and selling in its new Mexican retailing facilities. This is an example of __________ for entering a foreign market. A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

When Sears decided to enter Mexico with its retail facilities. Its strategy was to engage in contractual agreements with qualified local manufacturers to produce products that Sears was merchandising and selling in its new Mexican retailing facilities. Sears ultimately desired to buy out these producers and take over their operations. This is an example of __________ for entering a foreign market. A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

When __________ advertisers seek to determine the cost of advertising needed to achieve the desired objectives. A-Establishing advertising objectives B-Identifying the target audience C-Determining the advertising budget D-Executing the advertising strategy E-Determining advertising strategy.

When firms seek to differentitate their product offerings by emphasizing different promotion techniques they are said to be employing ___________ . A-Price competition B-Monopolistic competition C-Non-price competition D-Promotion competition E-Competitive positioning.

Which is NOT a possible structure of the Marketing Dashboard? A-Flow based structure B-Grouping structure C-Vertical structure D-Relationship structure

Which of the following is not consistent with employing a skimming pricing strategy? A-Customer demand is price inelastic B-The effects of competition on pricing can be minimized C-Bait pricing D-Initial production and marketing costs are high E-Price connotes high quality or prestige.

Which of the following manufacturers would be most likely to use a manufacturers' agent to distribute its product? A-A well-established, international company B-A large cereal manufacturer that has developed a gluten-free cereal line C-A well-established Southern firm that wants to expand its market area by making its products available for the first time in Washington state and Oregon D-An international sporting goods manufacturer that wants to add a line of snow toboggans E-A company that wants to introduce product line extensions to its current market.

Which of the following pricing strategies would you suggest to a retailer that wishes to encourage price-sensitive shoppers to postpone their purchases until the planned time of a sale for those products the retailer intends to place on sale: A-Random discounting. B-Second market discounting C-Periodic discounting D-Deep discounting. E-None of the above.

With _________ IMC budgeting, the size of the promotion budget is based on industry comparisons. A-Percentage of sales B-Objective and task C-Competitive parity D-All-You-Can-Afford.

With __________ firms invest in and establish their own foreign-based assembly or manufacturing facilities. A-Direct exporting B-Indirect Exporting C-Direct Investment D-Joint Venturing E-Contract manufacturing.

With respect to supervising sales personnel, "coaching" involves: A-Assisting reps with goal setting B-Providing timely and frequent feedback on performance C-Helping reps identify training deficiencies and areas needing improvement D-The ability to empathize with reps' personal and professional situations E-Supervisors must possess the knowledge and skills expected of their reps.

With respect to the principles of marketing communication, FAB stands for: A-Function, attitudes, beliefs B-Function, attributes, beliefs C-Features, attributes, benefits D-Function, attributes, benefits E-Features, attitudes, benefits.

___________ are tactical pricing elements that typically reduce the computed base price of a product and help firms manage demand for the product. A-Price objectives B-Pricing techniques C-Pricing discounts D-Pricing allowances E-Cost-volume-profit analysis.

___________ entails pricing agreements between two or more firms operating at the same supply chain level. A-Price discrimination B-Vertical price fixing C-Horizontal price fixing D-Price lining E-Price bundling.

___________ is used during growth and maturity stages of the PLC to differentiate the firm's brand from competitors' brands. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

___________ offer a wide assortment of product lines, each provided in shallow, but reasonable, depth. Product lines are organized by departments, few services are provided, the retail setting is austere, and prices are set low to attract price-sensitive consumers. A-Off-price retailers B-Specialty stores C-Discount stores D-Category killers E-Department stores.

___________ permits US firms to create export partnerships other domestic corporations who can "merge" presumably complimentary competencies, capabilities, and resources, to promote, and distribute domestic products more effectively in global markets. A-Foreign Corrupt Practices Act B-Trade Act C-Export Trading Act D-Robinson-Patman Act E-Sherman Anti-Trust Act.

___________ supports and augments advertising and personal selling efforts. It consists of activities that provide short-term incentives aimed at inducing desired responses from customers. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

____________ includes all activities involved in selling goods and services to ultimate consumers for their own personal use. A-Wholesaling B-Consumption C-Retailing D-Distribution E-Logistics.

____________ is a paid form of communication that is temporarily used to stimulate purchases, as well as enhance salesperson and dealer effectiveness. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

_____________ are major shopping centers, usually fully enclosed. These centers are anchored by several major department stores that are intermingled with a variety of specialty stores. Most of these well-branded specialty stores belong to corporate chains or ownership groups. A-Neighborhood centers B-Community centers C-Regional centers D-Power centers E-Factory outlet malls.

_____________ includes the use of coupons, games, contests, free samples, rebates, frequent-flyer programs, in-store displays, in-store product demonstrations, free gifts, and travel vacations for salespeople. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

______________ is probably the best promotional tool for stimulating impulse purchases and brand switching for low involvement consumer convenience goods. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

______________ is probably the best promotional tool for stimulating new product trial and encouraging brand switching for consumer convenience goods. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

A _____ is an independent agent wholesaling middleman that brings buyers and sellers together and provides marketing information to both parties. A-selling agent B-manufacturers' agent C-drop shipper D-broker E-commission merchant

A ____________ for penetrating international markets by US firms occurs when the US-based firm combines forces with a host firm in the foreign market to produce or market products or services in the host country A-Direct exporting B-Indirect Exporting C-Direct Investment D-Joint Venturing E-Contract manufacturing.

Organizations that operate in more than one country and consequently secure marketing, production, NPD, research and development, financial or supply chain advantages that are not available to firms operating in purely domestic markets are engaged in ________. A-World-wide marketing B-International marketing C-Highly risky ventures D-Global marketing E-External marketing.

Some domestic US firms contract with partner firms in foreign markets for purposes of using the US firm's management expertise to run the partner firm's operations in the foreign markets. This is an example of __________ for entering a foreign market. A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

Steve Johnson sells fiberglass resins and fiberglass fabrics to the many small sailboat manufacturers in Florida. He takes title to the products but does not handle them. Instead, the materials are shipped directly from the producer to the sailboat manufacturers. Steve is a: A-Cash & carry wholesaler B-Manufacturer's agent C-Specialty wholesaler D-Drop shipper E-Selling agent.

Tariffs imposed on foreign products that are intended to raise money for domestic governments are _______. A-Administrative tariffs B-Trade barriers C-Quotas D-Revenue tariffs E-Protective tariffs.

Tariffs that impose tax rates per pound, per gallon, or other unit on imported products are called _______. A-Administrative tariffs B-Trade barriers C-Quotas D-Revenue tariffs E-Trade incentives.

Taxes levied on foreign products that are imported into domestic markets are called ________. A-Import taxes B-Trade barriers C-Quotas D-Tariffs E-Trade incentives

The Gillette Fusion razor with one replacement blade can be purchased for as little as $9. However when it's time to buy replacement blades you can expect to pay $20 or more for a pack of 4 blades. Gillette is using ____________ . A-Quality pricing B-Prestige pricing C-Skimming pricing D-Captive pricing E-Predatory pricing.

The Hilton hotel chain recently opened a Doubletree in Dubai, the capital of the United Arab Emirates. Local investors own the facility. Hilton manages the property for these local investors. This is an example of __________ for entering a foreign market. A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

The disadvantages of licensing as a means for US firms to enter foreign markets include: A-Reduced control over how it's products are produced and marketing in the foreign country B-An alternative entry strategy may have been more profitable, particularly is the product gains substantial sales C-After developing an expertise and market for the licensed product, the licensee may break from the licensing arrangement and become a direct competitor with the US-based firm in the foreign market. D-All of the above.

The firm's promotion mix consists of all of the following except _______ . A-Advertising B-Personal selling C-Sales promotion D-Social media E-Publicity and public relations.

The geographic pricing technique in which a single price is employed for all customers regardless of geographic location and includes the average cost of shipping and handling is: A-F.O.B Mill B-F.O.B destinations C-Zone delivered pricing D-Uniform Delivered Pricing

The major benefits of sales promotion are: A-Ability to generate sales by offering additional incentives to buy. B-Accelerate sales by encouraging "immediate action." C-Stimulate incremental sales volume beyond that generated by other forms of promotion. D-All of the above are benefits.

The method of advertising budgeting in which the budget is set based on how much competitors may be spending is the ____________ . A-Objective and task method B-All-you-can afford method C-Percent of sales method D-Comparative parity method

The most severe remedy available to the FTC against firms charged with false, misleading, or deceptive advertising is __________ . A-Cease and desist order B-Consent decree C-Corrective advertising d-Fines.

The target audiences for a firm's public relations effort is least likely to include which of the following? A-Existing and potential customers B-Government agencies and regulatory bodies C-The general public D-The firm's competitors E-Company employees.

The use of coupons, free samples, displays, and other point-of-sale techniques assume that consumers are at which stage in the Hierarchy of Communications Objectives? A-Creating awareness B-Structuring beliefs and attitudes C-Creating liking and preference D-Trial and purchase E-Conviction and brand loyalty.

Tide laundry detergent commercials often show the average homemaker enjoying brighter, cleaner laundry as a result of using Tide's latest formula. The advertising appeal employed is _____________. A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

Transportation, communications, banking and financial, utilities, and public services capabilities are each part of a country's _________. A-Gross domestic product B-Logistics structure C-Trade barriers D-Infrastructure E-Economy.

Typical goals of ____________ are to garner positive news releases, arrange interviews between the media and the firm's spokespersons, lobby governmental agencies, support charitable events, and engage in corporate (institutional) advertising. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

What is NOT a criterion for evaluating a KPI? A-Evaluate B-Operational C-Performance D-Assembled

What is NOT among the Top 10 Marketing KPIs? A-ROI B-Incremental Sales C-Net Promoter Score D-EBITDA

When Jon Jones decided to sell 10 acres of land, he contacted Leona Anderson. She showed the land to a potential buyer who wanted to build a home on the site, explained the market conditions for land in the area, and helped negotiate the terms of the sale. She left the final decision about the sale up to Jon and the young couple. She is most likely a: A-selling agent. B-manufacturers' agent. C-drop shipper. D-broker. E-commission merchant.

When a seller attempts to employ promotion to shift the demand curve for its product to the right, such efforts represent: A-Price competition B-Economic diversification C-Market control D-Non-price competition E-Price fixing

When a seller offers a cash discount with terms of 3/10, n/60, this means: A-The buyer gets a discount of 10 percent if the bill is paid within 3 days; otherwise the entire amount is due in 60 days. B-Payment is due in 10 days, or else there is a 3 percent late-payment penalty. C-Payment is due in 60 days, or else there is a 3 percent late-payment penalty. D-The buyer gets a discount of 3 percent if the bill is paid within 10 days; otherwise the entire amount is due in 60 days. E-If the buyer pays within 60 days, there is a 3 percent discount; beyond that is a 10-day grace period before there is a penalty.

When marketers of automobiles offer to let consumers "take a car home" for an extended test drive and offer generous return policies, they are emphasizing objectives at which stage of the Hierarchy of Communications Objectives? A-Creating awareness B-Structuring beliefs and attitudes C-Creating liking and preference D-Trial and purchase E-Conviction and brand loyalty.

Which of the following best defines the meaning of "e" - the coefficient of elasticity? A-Defines the change in total revenue for a given change in price. B-Defines the percent change in price for every one percent change in revenue. C-Defines the percent change in revenue for every one percent change in price D-Defines the percent change in quantity demanded for every one percent change in price. E-None of the above.

Which of the following countries is responsible for producing the majority (86%) of counterfeit brands flooding international markets? A-Russia B-United States C-South Korea D-China E-Vietnam

Which of the following is least associated with the concept of 'price competition?' A-There is a stronger likelihood of price wars occurring B-Governmental agencies are more likely to monitor and intervene in pricing activities C-Firms aggressively employ price as a part of the marketing mix D-Consumers are more likely to be price inelastic E-All of the above are unlikely.

Which of the following is least likely to cause problems when employing historical data to estimate demand curves? A-Competitors experimented with multiple price changes during the time frame under analysis. B-Price controls were imposed on the industry by the Federal government during the period in which the pricing data were collected. C-The seller made several major changes to its promotion program during the time in question. D-The seller introduced several new products that were considered to be category extensions during the time in question. E-A consumer rights advocacy group mounted a major campaign against the company and its products during the time under analysis.

Which of the following is not a common criticism of promotion? A-Promotion is misleading B-Promotion is unjustifiably expensive C-Promotion can classically condition some groups D-Promotion provides too much information to consumers.

Which of the following is not a strength of TV as an advertising medium? A-Low cost per exposure B-Ability to reach large numbers of people C-Ability to manipulate imagery, sound, and motion to create a strong visual and emotional impact. D-Advertising development costs are low relative to other forms of advertising.

Which of the following is not one of the purposes of advertising? A-Inform consumers of features, benefits, availability B-Remind buyers of features, benefits, availability C-Persuade buyers to purchase D-Stimulate immediate action in retail settings

Which of the following would be the least expensive way to estimate the demand curve for a new product similar to one already produced by competitors? A-Using buy-response data from a survey B-A controlled test market in which several prices were tested in a number of test cities C-A laboratory experiment in which a sample of consumers are asked to respond to a number of test prices. D-Historical ratios based on sales of similar competitors' products

Wilson Farms, a Colorado-based grower, is harvesting its annual sugar beet crop. Wilson has contracted with Henry Taylor & Co. to take possession of the crop, and sell it at the produce market in Denver. Taylor & Co. is empowered to negotiate prices and arrange for any shipping, inspection, and storage that may be required. Taylor & Co. probably is a(n) _______ . A-Broker B-Manufacturers' agent C-Selling agent D-Commission merchant.

_________ entails selling a product in a foreign market at prices substantially lower than it is priced in the domestic home market. A-Predatory pricing B-A trade barrier C-A revenue tariff D-Dumping E-The use of subsidies.

_________ is a strategic communication process that builds mutually beneficial relationships between organizations and their publics." A-Publicity B-Relationship management C-Relationship marketing D-Public relations E-Publicity management.

_________ is the only marketing mix element that generates revenue for the firm. A-Promotion B-Product C-Distribution D-Price E-All of the above yield substantial revenue for the firm.

___________ appeals show the product being used by the "typical consumer" in a normal setting. A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

___________ are tactical pricing elements that are intended to aid supply chain members in promoting the firm's product at the retail level. A-Price objectives B-Pricing techniques C-Pricing discounts D-Promotion allowances E-Cost-volume-profit analysis.

___________ employed to keep the brand in consumers' minds. Letting them know that the brand is available and continues to be a viable choice. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

____________ engage in both wholesale- and retail-level selling. They attract smaller businesses who can purchase at wholesale prices. Consumers usually pay about 5% more for products than do business customers. Business and consumers generally pay a small annual membership fee. A-Supercenters B-Supermarkets C-Discount stores D-Warehouse clubs E-Convenience stores.

____________ involves all the processes through which products or services are conceptualized, developed, promoted, priced, and distributed internationally from one nation to another. A-World-wide marketing B-International marketing C-Highly risky ventures D-Global marketing E-External marketing.

_____________ is an attempt by Firms to manage the publicity it receives by seeking to enhance the image of the firm and its products, or to communicate important company information to key publics. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

A TV station runs a story about a company that is deemed to be "newsworthy." The company that is the subject of the news story does not pay for or directly sponsor the message. This is an example of ______ . A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

A manufacturer could try to defend itself against charges of price discrimination under the Robinson-Patman Act by claiming that: A-any price differences were to "meet competition in good faith." B-the price differences did not injure competition. C-the price differences were justified on the basis of cost differences. D-the products were not of "like grade and quality." E-All of the above are possible defenses against price discrimination charges.

A reduction from list price given to middlemen to get shelf space for a product is a: A-Brokerage allowance. B-Trade discount. C-Push money allowance. D-Self allocation. E-Slotting allowance.

All of the following are important components of IMC except ___________. A-A unified message is delivered to all stakeholders. B-Two-way communications are employed to solidify relationships with stakeholders C-All elements of the communications program are fully coordinated D-Marketing research is employed to understand the needs of stakeholders. E-Emphasis is placed on using cutting-edge digital media.

An experience curve constant of .95 means that: A-Average variable costs decline by 95% with each doubling of output B-Average fixed costs decline by 95% with each doubling of output C-Average variable costs decline by 5% with each doubling of output D-Average variable costs with each doubling of output are 95% of what they were with the previous doubling E-C and d are both correct.

China sold Chinese-manufactured glass for solar panels in Europe at prices well below local retail prices. China's dumping practice permitted its glass industry to increase its export market share by 500% during a three-year period. This practice probably was made possible by China's use of _______ for this industry. A-Import quota B-Trade barrier C-Revenue tariff D-Protective tariff E-Subsidies.

Every time you buy a protein shake at Discount Sport Nutrition (DSN) you can have your Discount Sport Nutrition card punched. When the card has 12 punches, your thirteenth shake is free. DSN is using a _____ discount. A-Seasonal B-Cash C-Non-cumulative quantity D-Trade E-Cumulative quantity.

The objectives of promotion during the growth stage of the PLC are primarily to: A-Stimulate primary demand B-Create brand awareness C-Induce product trial D-Convince intermediaries to stock and promote the product E-Stimulate selective demand.

Grapevine Mills, located just outside of Dallas, TX is a fully enclosed 1.5 million square foot mall. The huge facility houses more than 200 well-known manufacturer and retail outlets, off-price retailers and unique specialty stores. In addition to a food court, the mall houses a variety of theme restaurants including Rainforest Cafe, Dick Clark's American Bandstand Grill, and the Eerie World Cafe. Grapevine Mills is classified as a _________. A-Neighborhood center B-Community center C-Regional center D-Power center E-Factory outlet mall.

In price determination, given a particular selling price, the break-even point is where: A-Profit is maximized B-Sales volume is maximized C-Marginal cost equals total sales D-Marginal cost equals marginal revenue E-Total costs of the product equals total sales revenue from the product.

Joe's Electronics Supply stocks electronic repair parts and related supplies and tools from various producers. Joe's sells primarily to small electronic repair shops throughout the country that only want to order one or two items at a time. Orders are usually shipped out on UPS trucks. It appears that Joe's is a A-Manufacturers' agent B-Drop shipper C-Truck distributor D-Rack jobber E-Limited line (specialty) wholesaler.

Often domestic governments help fund the costs associated with producing and marketing certain products, such as gasoline, steel, and electronics to make them more price-competitive in foreign markets. These governments are using ____________. A-Import quota B-Trade barrier C-Revenue tariff D-Protective tariff E-Subsidies.

Smaller independent retailers face high failure rates. Which of the following is NOT among the possible actions which can cut down on the odds of failure for these smaller retailers? A-Seek to tailor their merchandising and customer service to the precise needs of their local market B-Idenfity a unique niche not targeted by competitors in which they can attain a differential advantage C-Seek to become part of a franchise organization D-Seek to become part of an established vertical marketing system E-Seek to become part of an established network marketing system.

Subsequent to the now infamous Gulf oil spill in 2010 BP employed ____________intended to "clean up" its image by talking about the steps it has taken to clean up the Gulf and prevent future similar disasters. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

Subsequent to the outbreak of mad cow disease in the US a few years ago, South Korea and other countries prohibited the importation of US-produced beef for a period of time. This was an example of a(n) _______. A-Import quota B-Trade barrier C-Revenue tariff D-Protective tariff E-Embargo.

The benefits of direct investment as a means of entering foreign markets include all of the following except: A-Greater control of operations and marketing activities B-Lower operational and production costs C-Enhanced brand image and brand power in the host country D-Easier to adopt products to local tastes and desires E-Reduced risk of foreign governmental restrictions on operations.

The benefits of direct investment as a means of entering foreign markets include: A-Greater control of operations and marketing activities B-Lower operational and production costs C-Enhanced brand image and brand power in the host country D-Easier to adopt products to local tastes and desires E-All of the above

The biggest advantage of publicity is A-Publicity is generally free B-Publicity is generally viewed a more credible because it originates from an independent source C-Publicity is always positive D-Good publicity can be used to replace most other communications tools employed by firms E-A and b above are correct.

The entire set of organizations that are involved in supplying component parts to producers, these producers, and the organizations involved in moving finished goods to consumers is _____. A-Logistics management B-Materials management C-Physical distribution D-The channel of distribution E-The supply chain

The key "public" that is targeted by a firm's PR efforts is _____. A-Customers of the firm B-The firm's competitors C-The general public D-Legislators and politicians E-All of the above.

The key "publics" that are targeted by a firm's PR efforts include all of the following except _____. A-Customers of the firm B-The firm's competitors C-The general public D-The firm's employees E-All of the above are targeted. There are no exceptions.

The likely consequences of firms choosing to engage in non-price competition include all of the following except __________. A-Reduced probability of price wars with other firms. B-Firms can differentiate based on product attributes and other elements of the marketing mix. C-Greater ability to build brand image and equity. D-Lower propensity for firms to collude with one another to maintain prices E-Reduced ability to raise prices.

The likely consequences of firms choosing to engage in price competition include all of the following except __________. A-Higher probability of price wars with other firms. B-Lower overall profits for firms in the industry. C-Higher levels of scrutiny by federal and state regulatory agencies. D-Greater tendency for firms to collude with one another to maintain prices E-All of the above are potential consequences.

The need to understand the importance of global marketing is based on: A-Many large corporations producing products commonly purchased in the US are headquartered in foreign countries B-International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets C-American-made goods are favorably perceived in many foreign countries D-Marketing via the Internet has become increasingly easy and has opened international markets E-All of the above.

The positive rewards accruing to consumers from purchase and use of a brand along with the use of reminder advertising positively reinforce the consumer's brand purchase decision during the __________ stage of the Hierarchy of Communications Objectives. A-Creating awareness B-Structuring beliefs and attitudes C-Creating liking and preference D-Trial and purchase E-Conviction and brand loyalty.

The typical Mountain Dew ad shows young adults enjoying the refreshing coolness of Mountain Dew while engaging in some fun activity, such as swimming and partying in a mountain lake. The advertising appeal used is __________. A-Humor appeals B-Fear appeals C-Sex appeals D-Slice of life appeals E-Life style appeals.

US-based firms can enter into arrangements with foreign firms to create local businesses in foreign markets. Both firms share ownership and control of the venture. This arrangement is termed _______ A-Licensing B-Indirect exporting C-Contract manufacturing D-Management contracting E-Joint ownership.

Wells Fargo provides the financial services that allow supply chain members (wholesaling and retailing intermediaries) to establish and operate their businesses. In this context, Wells Fargo is a(n) ________. A-Investment banker B-Financial broker C-Financial agent D-Industrial distributor E-Facilitating agent.

When Chinese wireless providers received governmental funding that partially underwrote the high costs of development and production, they were able to lower their domestic retail prices, making them competitive with foreign providers. The Chinese government was employing __________. A-Import quota B-Trade barrier C-Revenue tariff D-Protective tariff E-Subsidies.

When consumers assign "value" to products and services they take into account which of the following? A-The price of the product or service B-The benefits received from the product or service C-The emotional costs associated with obtaining the product or service D-The effort that must be expended in acquiring the product or service E-All of the above are part of the value equation.

Which of the following are considered to be economic factors affecting a firm's global marketing strategy? A-Gross domestic product B-Per capita income of individuals C-Exchange rates D-Infrastructure E-All of the above

Which of the following is a key question a firm must address when deciding whether it should "go global?" A-Can the firm adapt is business model to accommodate differences in global cultures and supply chain structure? B-Can the firm identify, understand, and effectively respond to differences in consumer preferences and buying behaviors in global markets? C-Does the firm have the relevant expertise and experience to target global markets? D-Is the firm capable of managing and responding to the varying legal requirements in global markets? E-All of the above must be addressed.

Which of the following is an advantage of vertical marketing systems? A-Improved cooperation between channel members B-Better service to ultimate consumers C-Reduced conflict in the channel D-Improved efficiencies and reduced costs E-All of the above are advantages.

Which of the following is considered to be joint venturing for penetrating foreign markets? A-Licensing B-Contract manufacturing C-Management contracting D-Joint ownership E-All of the above are types of joint ventures.

Which of the following is not a form of non-store retailing? A-Vending B-Party plan selling C-Telemarketing D-Direct mail E-Social network selling.

Which of the following is true concerning the importance of global marketing? A-The proportion of US goods exported to other countries has doubled in the last 10 years B-International logistics and transportation costs are rapidly declining making it possible for even small firms to penetrate global markets C-American-made goods are favorably perceived in many foreign countries D-Marketing via the Internet has become increasingly easy and has opened international markets E-All of the above.

With respect to telemarketing, which of the following techniques are employed for idenfying potential prospects? A-Cold-calling from existing phone lists. B-Random digit dialing C-Lists of current or past customers D-Lists purchased from third party vendors E-All of the above.

With respect to the coefficient of elasticity, a value of "e" equal to -1.5 means that: A-Demand changes by -1.5% for each 1% change in price. B-For every 1% change in price, demand changes by -1.5 times that amount C-Demand is price elastic D-Demand and price are inversely related E-All of the above.

With respect to the product life cycle, prices are usally lowest during the ___________ stage. A-Conceptualization B-Introduction C-Growth D-Maturity E-Decline.

_________ are owned and operated by corporate chains and carry a broad mix of product lines organized by "departments." Examples include JC Penney, Nordstrom's, Sears, Dillard's, and Macy's. A-Off-price retailers B-Specialty stores C-Factory outlets D-Category killers E-Department stores.

_________ are used to increase the retail price of an imported product such that it generally matches or exceeds the price of domestically produced goods. A-Administrative tariffs B-Trade barriers C-Quotas D-Revenue tariffs E-Protective tariffs.

__________ carry carefully selected lines of high-turnover consumer food and non-food products, along with various grades of fuel. The focus is to serve "rushed" consumers who place more emphasis on time and place utility as they purchase and are willing to pay higher prices. A-Supercenters B-Supermarkets C-Discount stores D-Category killers E-Convenience stores

___________ are a complete ban on certain products imported from foreign countries into domestic markets. A-Import quotas B-Trade barriers C-Revenue tariffs D-Protective tariffs. E-Embargos.

____________ is intended to promote the image of an organization by highlighting specific activities in which the organization is engaged, people who represent the organization, and/or ideas and points of view espoused by the organization. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

_____________ are not directly involved in the transfer of title for products moved through distribution channels. They do, however, provide a range of specialized support services that allow supply chains to function more efficiently. A-Wholesaling intermediaries B-Retailing intermediaries C-Agents D-Industrial distributors E-Facilitating agents.

______________ is any message about a product, organization, person, or event that is communicated via non-personal media and is not paid for by a sponsor. A-Advertising B-Personal selling C-Sales promotion D-Public relations E-Publicity.

_______________ promotes organizations rather than products. A-Product advertising B-Pioneering advertising C-Persuasive advertising D-Reminder advertising E-Institutional advertising.

Stores such as Family Dollar and Dollar General tend to located their facilities in ________________ in order to target consumers living nearby, attracting consumers who are primarily interested in a combination of convenience and lower prices. A-Neighborhood centers B-Community centers C-Regional centers D-Power centers E-Factory outlet malls.

The "making bulk" channel function is formally called: A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

Sophie Taylor sells the entire output of several small companies based in Colorado Springs' Tech Center. Each of the companies designs and produces computer components. Sophie has almost complete control of all marketing activites since the engineers who started the companies lack marketing experience and want to focus on what they do best --- inventing things. Sophie is paid a substantial commission on all sales. She is a: A-Selling agent B-Manufacturers' agent C-Broker D-Specialty wholesaler E-Truck jobber.

Which of the following is not a benefit of business format frachises for franchisees? A-Risk of failure is reduced B-Economies are obtained in purchasing and promotion C-Franchisees can better compete with larger corporate chains on a cost and price basis D-Franchisees have access to management expertise from the franchisor E-Franchisees are paid royalties by franchisors to offset their initial investment in the franchise.

Which of the following is not among the actions that category killers such as Best Buy have taken to effectively compete with department stores and internet retailers, such as Amazon? A-Price matching on select merchandise B-Adding value-enhancing services C-Liberal return policies D-Improved merchandising by expanding the merchandise mix E-Enhanced customer relationship management.

"Inventory in motion or at rest throughout the supply chain" is called: A-Channel management B-Materials management C-Physical distribution D-Logistics E-Transportation.

A channel consisting of only producers and final customers, with no middlemen providing assistance, is called ____________ distribution. A-Selective B-Indirect C-Intensive D-Direct E-Administered

Bringing together relatively small quantities purchased from suppliers and combining these quantities into a single larger shipment for sale to a buyer is called: A-Allocating B-Assorting C-Facilitating exchange D-Accumulating E-Buying and selling.

Factory outlet malls contain a variety of stores, some of which are owned and operated by the manufacturers of the products sold in the store. Such true 'factory outlets' are examples of: A-Off price retailing B-Retailer cooperatives C-Administered vertical marketing systems D-Corporate vertical marketing systems. E-None of the above.

If there is a traditional channel for consumer goods, it is: A-From producer to consumer B-From producer to retailer to consumer C-From producer to agent to retailer to consumer D-From producer to wholesaler to retailer to consumer E-From producer to agent to wholesaler to retailer to consumer.

One of the primary keys to wholesaling and retailing success is matching the variety of products sold to the wants and needs of customers. This process is the ____________ channel function. A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

Under which of the following conditions is a tying contract likely to be declared as legal? A-The supplier alone can provide products of the required quality, as in the case of some franchise situations. B-A new small company is entering the market and desires full line representation. Under these circumstances adverse effects on competition are minimal. C-A supplier carries competing lines that can be offered to buyers, thereby assuring market access to competing firms. D-All of the above increase the likelihood that a tying contract will be legal.

When the UNT Bookstore brings together the range of books, supplies, sundries, and gifts it believes customer want, it is engaged in _______ . A-Accumulating B-Allocating C-Sorting D-Assorting E-Matching.

Which of the following is not a benefit of business format frachises for the franchisors? A-Risk is shared with franchisees B-Quicker to expand the franchise geographically to other market areas C-Less capital is needed by the franchisor for expansion. D-Reduced exposure to potential federal and state regulation.

Which of the following is not a federal law that regulates aspects of supply chain relationships? A-Sherman Anittrust Act B-Clayton Act C-FTC Act D-Lanham Trademark Act.

Assemblers are commonly found in the agricultural and fishery industries. Large food products producers (Hunt, Campbell, StarKist) do not want to buy direct from many small farmers or fishermen. They prefer to buy in large quantities from these assemblers that have already pooled these smaller quantities. The assembler is performing which channel function? A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

Channel captains are associated with which type of channel structure? A-Administered VMS B-Coporate VMS C-Contractual VMS D-Voluntary chain E-Franchise.

Farmer Brothers distributes its coffee to restaurants, delis, vending operators, and coffee services through a variety of channels to reach essentially the same customers. Farmer Brothers is engaging in the practice commonly referred to as: A-Dual distribution B-Multiple channel distribution C-Channel proliferation D-Channel adaptation E-Channel penetration

For which of the following products is exclusive distribution most likely? A-Caterpillar tractors B-Citizen watches C-Ford Mustangs D-Intel micro-processors E-Gillette razors.

For which of the following products is selective distribution most likely? A-Revlon cosmetics B-Gillette razor blades C-Bic Pens D-Rolex watches E-Old Spice men's cologne.

In a _______ , each level in the supply chain operates under independent ownership. In other words, the producers and their suppliers, as well as all downstream marketing intermediaries (wholesaling middlemen and retailers) are separate business entities. A-Conventional supply chain B-Vertical marketing system C-Horizontal marketing system D-Traditional supply chain.

In a corporate vertical marketing system, A-A firm at one level of the channel owns the firms at the next level or owns the entire channel. B-Distribution activities are coordinated by an agent. C-Promotion and distribution are controlled by the strongest channel member. D-Independent firms operate under contracts which specify how distribution and promotion will be handled. E-None of the above is true.

Machines that dispense products, video game machines, and bank ATMs all illustrate which form of retailing? A-Vending B-Direct response advertising C-Direct selling D-Mechanical marketing E-None of the above.

The Olympics Emporium is the only place in Dallas where a collector of Olympic memorabilia can buy a set of eight Olympic coins minted in 24K Gold priced at $15,000. What kind of distribution coverage strategy is being used? A-Exclusive. B-Intensive. C-Direct. D-Selective. E-Dual.

The primary distinction between voluntary chains and retailer cooperatives is: A-Whether they are set-up by wholesalers or by retailers B-Voluntary chains tend to offer more benefits to members than do coops. C-Retailer cooperatives tend to be more profitable than voluntary chains D-Voluntary chains are limited to hardware stores, while coops serve the grocery industry.

The sequence of organizations and individuals through which finished consumers goods move is called: A-The channel of distribution B-Materials management C-Physical distribution D-Logistics E-Transportation.

The tendency for producers to employ multiple channels of distribution to reach the same target markets is called: A-Dual distribution B-Multiple channel distribution C-Channel adaptation D-Channel proliferation E-None of the above.

Toys "R" Us employed its purchasing power with toy producers Mattel and Hasbro to coerce them into not selling to competing retailers such as Costco and Sam's Club. Toys "R" Us actions resulted in ___________ . A-Horizontal channel conflict. B-Vertical channel conflict. C-Exclusive dealing conflict. D-Increased competition between these retailers.

Transportation firms, such as trucking companies and railroads, assist other supply chain members (producers, wholesalers, and retailers) by transporting products from point of production to point of consumption. In the context of supply chains, these transportation firms are called _________. A-Facilitating agents B-Physical distributors C-Logistical agents D-Distribution agents E-Vertical integrators.

Which of the following retailers is most likely to be a member of a retailer cooperative? A-A hardware store B-A toy store C-A video rental store D-A gourmet store featuring Thai cuisine. E-A fruit and vegetable stand.

Which of the following retailers is most likely to be a member of a voluntary chain? A-A supermarket B-A toy store C-A video rental store D-A gourmet store featuring Thai cuisine. E-A fruit and vegetable stand.

_____ occurs when one supply chain member perceives that another supply chain member is making decisions in a manner that interferes with the ability of the first supply chain member to achieve its own objectives. A-Channel conflict. B-Objective divergence. C-Decision dissonance. D-Channel dissonance.

_________ are wholesaling middleman that buy and sell bulky commodities, such as coal and building materials. These products are very expensive to handle and ship, relative to their unit value. These wholesaling middlemen never physically handle the products they buy from their suppliers. The products are shipped directly from the supplier to the middlemens' buyers. A-Drop shippers B-Agents C-Commission merchants D-Merchant wholesalers E-Retailer cooperatives.

Albertsons, Kroger's, Safeway, H.E.B., and A&P are nationally located corporate chains of ______________ . A-Supercenters B-Supermarkets C-Discount stores D-Category killers E-Department stores.

Consider the following statement: "If the net profit margin on each sales dollar earned is 5%, a supply chain operational savings of $5,000 yields the same return to the Firm's bottom line as would a sales increase of $100,000." This statement reflects: A-Revenue leveraging B-Profit leveragin of costs C-Supply chain profit leveraging D-Scale economies E-None of the above.

Core-Mark, a large grocery wholesaler, maintains a number of _____________ at key points in the United States that receive products from a large number of manufacturers in truckloads. Deliveries are received, sorted, accumulated, and reallocated to retailers in an efficient and timely manner. A-Warehouses B-Distribution centers C-Storage facilities D-Cold storage warehouses E-Assembly facilities.

Estee Lauder Co.now sells most of its flagship products directly online. This choice, made around 2000, resulted in substantial __________ with the various high-end retailers. A-Horizontal supply chain conflict. B-Verical supply chain conflict. C-Vertical channel dissonance. D-Contract re-negotiations.

General Mills, with its lines of cereal, snack foods, and baking products has substantial market position and brand equity making it possible to coordinate channel activities via is market power. This form of distribution illustrates a(n): A-Contractual VMS. B-Administered VMS. C-Voluntary Chain. D-Corporate VMS. E-Franchise system.

Large single story facilities designed specifically for performing the accumulating, sorting, and allocating functions as efficiently as possible are ____________. A-Warehouses B-Distribution centers C-Storage facilities D-Cold storage warehouses E-Assembly facilities

Movement of parts and materials from their sources of supply into the manufacturing process is called: A-Channel management B-Materials management C-Physical distribution D-Logistics E-Transportation

Old Smokie, Inc. is a small producer of specialty equipment for smoking meats. The company does not have its own sales force and has just introduced a cooker which smokes meats 50% faster. The cooker will most likely be distributed by a: A-Truck jobber B-Manufacturers' agent C-Drop shipper D-Broker E-Commission merchant.

Procter & Gamble sells in large quantities to Core-Mark, a large grocery wholesaler that supplies a large number of independent and chain grocers. Core-Mark then resells in smaller quantities to its retail grocery customers. Core-Mark is performing which channel function? A-Matching B-Allocating C-Negotiating D-Assorting E-Sorting.

The ____________ function is typically performed when wholesaling middlemen buy from very large manufacturers and resell in smaller quantities to smaller retailers. A-Matching B-Allocating C-Negotiating D-Assorting E-Sorting.

The most common channel of distribution for consumer goods is _______ . A-Direct from producer to consumer B-Producer->Wholesaler->Retailer->Consumer C-Producer->Retailer->Consumer D-Producer->Agent->Retailer->Consumer

Whether a given transaction is classified as a wholesale sale or as a retail sale essentially depends on: A-Whether the seller is a wholesaler or a retailer. B-Whether the product will be used by an organization or by a consumer. C-Whether the seller procured the product from a manufacturer or a wholesaler. D-Whether the product involved is sold at wholesale or retail price. E-The quantity of goods involved.

Which distribution channel is the manufacturer of small fireprood safes for businesses most likely to use? A-Producer to user. B-Producer to industrial distributor to user C-Producer to agent to user D-Agent to industrial distributor to user E-None of the above.

_________ are being employed when a producer prohitits its dealers from carrying its competitors' products, A-Tying agreements B-Exclusive dealing agreements C-Exclusive territories D-Refusals to deal.

_________ are groups of independent firms involved in the process of making products or services available for use or consumption by organizations or consumers. A-Channels of distribution B-Supply chains C-Physical distribution D-Logistics channels E-Transportation.

__________ exist(s) when a supplier agrees to provide a product to a supply chain member only if that member will buy additional products from the supplier. A-Refusals to deal B-Tying agreements C-Exclusive territories D-Exclusive dealing.

___________ include all activities involved in the marketing and distribution of goods and services from one business to other businesses. A-Retailing B-Wholesaling C-Channel management D-Logistics E-Distribution management.

A national grocery store chain has decided to sell an assortment of hobby, gardening, and cook books. Buyers in the chain's main office are not certain what to stock because they think that consumers in different areas of the country will probably be interested in different books. The store managers have said they don't know what to order either. The chain should probably get help from a: A-cash-and-carry wholesaler. B-specialty wholesaler. C-rack jobber. D-manufacturers' agent. E-broker.

A small manufacturer of custom cabinets wants to expand sales but does not wish to get involved directly with selling or any other marketing activities. The manufacturer probably will opt to employ which form of channel structure for reaching consumers? A-A direct channel to consumer, with sales via the internet B-Selling to wholesalers who, in turn, sell to furniture retailers C-Employing an agent to handle sales to other intermediaries D-Selling directly to large scale retailers of custom furniture.

Cajun Fire is a small producer of jalepeno and habanero pepper sauces. It does not have its own sales force. Which channel of distribution is it most likely to use? A-Producer to user. B-Agent to industrial distributor to user. C-Producer to agent to retailer to consumer D-Producer to industrial distributor to user E-Producer to agent to industrial distributor to consumer.

Lois Lane wants to open a convenience store in Cripple Creek Colorado. What kind of wholesaler will likely provide her chewing gum, tobacco products, candy bars, and other snack foods? A-A desk jobber B-A commission merchant C-A truck jobber D-A manufacturer's sales office E-A broker

Samsung sells its smart phones via display centers located in Best Buy, through wireless carriers such as Verizon, and directly to buyers via its website. Samsung is employing ___________ . A-Multi-channel marketing and distribution B-Direct distribution C-Dual distribution D-Retail distribution.

The physical movement of finished goods from producers to middlemen and, everntually, to consumers is: A-Channel management B-Materials management C-Physical distribution D-Logistics E-Transportation.

The term used when multiple transportation modes -- trains, planes, automobiles, trucks, pipelines, barges, etc. -- are employed to ship any item is ___________ . A-Dual distribution B-Multi-modal transportation C-Intermodal transportation D-Bi-modal transportation.

When channel members haggle with one another over final prices and product placement within retail settings they are performing which channel function?. A-Matching B-Allocating C-Negotiating D-Assorting E-Sorting.

__________ involves the physical movement of finished goods, raw materials, and component parts between channel members. A- Accumulating B- Allocating C- Transportation D-Assorting E-Sorting.

Which of the following is not an advantage of corporate chain stores over smaller independent retailers? A-Better financed with more resources B-Access to experienced expert management C-Scale economies in purchasing and promotion D-Greater flexibility in operational decision-making at the individual store level E-Greater brand recognition.

________ attempts to achieve maximum retail exposure for a product. Every suitable retail outlet is targeted. This type of distribution is best suited to consumer convenience goods and some shopping goods. A-Direct distribution B-Selective distribution C-Exclusive distribution D-Intensive distribution E-Mult-channel distribution.

____________ are large un-enclosed shopping centers that are normally anchored by large category killers and off-price retailers rather than traditional department stores. A-Neighborhood centers B-Community centers C-Regional centers D-Power centers E-Factory outlet malls.

____________ offer substantial discounts and probably the best selection of brands for the types of products they merchandise. The retailing strategy is to attract customers through relatively lower-priced offerings and broader selections, thereby eliminating the competition. A-Off-price retailers B-Specialty stores C-Factory outlets D-Category killers E-Department stores.

Sandra Locke sells gluten-free specialty food products to grocery wholesalers and large retail grocery chains in Tampa. She sells for several manufacturers with noncompeting lines of gluten-free foods and earns a 4% sales commission. Sandra does not own or inventory the products she sells. Evidently, Sandra is a: A-Rack jobber B-Broker C-Truck wholesaler D-Selling agent E-Manufacturers' agent.

The television home shopping format appeals to some consumers for which of the following reasons? A-Prices are often perceived as lower B-Sales personnel are often perceived as friendlier and better informed C-Consumers can shop from the convenience of their own homes D-Consumers can see how products work and understand the benefits before they purchaseProducts can be easily demonstrated and plenty of time exists to explain the products benefits E-All of the above.

When eggs are packaged into different sizes (medium, large, jumbo) and grades (A or AA) or lumber products, such as 2x4 studs, are graded according to number and severity of knots or splits, which channel function is being performed? A-Accumulating B-Allocating C-Negotiating D-Assorting E-Sorting.

When producers and channel intermediaries separate products into categories based on differences in "grade," or some other aspect of "quality," they are performing the ___________ channel function. a- Accumulating b- Allocating c- Negotiating d- Assorting e- Sorting.

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