MTG Exam 2

What is one of the benefits of industry classification systems like NAICS? a. They are the only type of data needed for industry segmentation. b. They can be applied to the whole world no matter which system is used. c. They make it easy for business marketers to identify potential customers. d. They allow for the classification of industries without any repetition e. They provide a consistent means of categorizing industries

C or E

Malcom buys overrun clothing from factories and sells the clothes to discount retailers. Malcom is a a. Reseller b. Institution c. Producer d. Consumer

a

Mario is an avid collector of Major League Baseball memorabilia. He greatly desires to own the "special" bat that earned the slugger Sammy Sosa a seven-game suspension due to its illegal contents. This is an example of a(n) __________ product. a. specialty b. unsought c. shopping d. historical e. unique

a

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

a

Retailers like Staples and PetSmart are considered to be members of which business market? a. Reseller b. Customer c. Producer d. Institutional e. Government

a

The NAICS is used to segment ______________ markets. a. B2B b. C2C c. B2C d. B2P

a

The Quick Cash Pawn Company is a regional business that owns several pawn stores in Tennessee. The owners of Quick Cash have recently purchased a new software system designed to better track their inventory. Now that they have had the system for a couple of months, they have decided to upgrade to a newer version. The original purchase is an example of a(an) ___________, while the current purchase will be a(an) ___________. a. new task; modified rebuy b. new task; continued new0task c. contractual; modified rebuy d. new task; straight rebuy e. negotiated task; modified rebuy

a

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

a

Which is a specialty product? a. Burberry Coat b. KitKat candy c. Honda motorcycle d. Nike Shoes

a

6. As the new sales representative for Parkland Electreonics, Angelique is responsible for calling on hospital management and selling electronic hospital equipment such as blood pressure cuffs, scales, and heart monitors. Angelique knows that she needs to be friendly with the administrative assistants in the management offices in order to make sure that Parkland's information brochures and new product diagrams actually get to the management staff. In this situation, Angelique is exhibiting her knowledge that administrative assistants are often ___________ in the buying decision process. a. users b. gatekeepers c. influencers d. buyers e. controllers

b

A(n) ________________ is a name, symbol, design, or term that identifies a seller's good or service as distinct from those of other sellers. a. Supply chain b. Brand c. Product line d. SKU

b

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

b

Charmin toilet paper would be classified as which type of product? a. Unsought b. Convenience c. Specialty d. Shopping e. Industrial service

b

Ford makes the Fiesta, Focus, Fusion, and Escape cars and SUVs. These represent a a. Marketing Mix b. Product mix c. Product line d. Product Items

b

Nike manufactures athletic shoes, shorts, shirts, and a variety of other athletic products. These products make up Nike's product a. item b. mix c. width d. line e. depth

b

Samples are often used for new products when ____________ will influence diffusion of the product. a. Complexity b. Trialability c. Relative Advantage

b

Which of the following characteristics does NOT affect the rate of adoption? a. Observability b. Comparability c. Relative Advantage d. Complexity

b

Which of the following is NOT a stage in the new product development process? a. Business Analysis b. Concept Checking c. Development d. Screening and Evaluation

b

Which of the following is considered a service? a. Lamp b. Marketing Class c. Motorcycle d. Potato Chips

b

Duke Auto Supply sells car and truck park, as well as tire replacement and installation services. As Duke places its order for truck tires with Firestone, it must also place its order for valve stems and balancing weights for tires. Such business products are characterized as having __________ demand. a. derived b. inelastic c. joint d. fluctuating e. higher

c

Henry Jennings of Jennings Pest Control buys equipment from Total Tools because Total Tools hires him to spray its warehouse for insects periodically. This practice is an example of a. cost-benefit trading b. cooperative selling c. reciprocity d. supplier agreements e. modified rebuy purchase

c

Michelin is a manufacturer and marketer of tires for new passenger cars. In recent years, the company's business has declined because of the overall decrease in consumer demand for new cars. In this case, the demand for Michelin's tire products is said to be __________ because it depends on the demand for new cars. a. Non expansive b. stable c. derived d. expandable e. contrived

c

The Philadelphia Phillies may have great hitting and pitching one day, and lose by 10 runs the next. This is service ___________. a. Inseparability b. Inventory c. Inconsistency d. Intangibility

c

When the city of Portland buys iPads for its restaurant inspectors to use during their visits, the purchase from Apple would be considered a. a regulatory sale b. a reseller purchase c. a government purchase d. a producer purchase e. an institutional sale

c

a ___________ is often used to illustrate the position of a firm's products or brands in consumers' minds. a. Loyalty Timeline b. Psychographic Profile c. Perceptual Map d. Mass Marketing Analysis

c

A new variety of Lays is initially introduced in Pheonix, Arizona; Cleveland, Ohio; Battle Creek, Michigan; and Peoria, Illinois. After its initial success, Frito-Lay markets the new Lays in those entire states. then the adjacent states, and finally the entire country. Frito-Lay is using a __________ for its new variety of Lays. a. test market expansion b. multistage introduction c. mass commercialization d. rollout approach e. tickle down approach

d

Brands that are owned by ___________ are called private-label brands. a. Supply Chain Specialists b. Manufacturers c. Wholesalers d. Retailers

d

Keira is a member of the product development team at a company that manufactures sports equipment. During a recent meeting, one of the team members asked, "What level of quality are we building into the camping gear?" Based on this question, Keira and her team are most likely in the ____ phase of new-product development. a. concept testing b. test marketing c. business analysis d. development e. commercialization

d

Marianna tells Rajesh that she liked his team's ideas about a new three-lace running shoe but wants him to put together some figures regarding anticipated sales, costs, and resulting profits. She is asking Rajesh to proceed to which stage of the new-product development process? a. Idea generation b. Test marketing c. Screening d. Business analysis e. Commercialization

d

The purchasing department of a company services which role in the buying center? a. User b. Influencer c. Decider d. Buyer

d

When Toro sends lawn mowers to Alabama and snow blowers to Minnesota, that is __________________ segmentation. a. Benefit b. Behavior c. Demographic d. Geographic

d

When a salesman approaches you to sell a Cemetry plot, this is what type of product? a. Shopping b. Specialty c. Convenience d. Unsought

d

When purchasing large amounts of light bulbs, which purchase method would an organization most likely use? a. Description b. Inspection c. New-task purchase d. Sampling e. Multiple sourcing

d

A group of managers has been assigned the task of developing a new product. They are now in the process of assessing several ideas to determine whether they are consistent with the firm's overall objectives and resources. The managers are at what stage of the new-product development process? a. Comercialization b. Idea generation c. Product testing d. Business analysis e. Screening

e

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

e