BUA 270

11. Which of the following social media tools is a type of all-in-one marketing software that can be used to educate customers? A. Facebook B. Twitter C. LinkedIn D. HubSpot E. WordPress

d. HubSpot

16. The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them. A. innovator B. laggard C. late majority D. early majority E. early adopter

d. early majority

16. In an administered vertical marketing system, A. no individual participant has control over the others, since a third-party administrator oversees the entire supply chain. B. independent firms at different levels of the marketing channel join through contracts to obtain economies of scale and coordination to reduce conflict. C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. D. independent firms join together formally to decide as a group how the marketing channel will operate. E. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.

C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives.

17. One key feature of the value of a strong brand is that A. it can protect the firm from competition. B. it no longer needs to be supported by advertising and promotion. C. if it becomes a generic name, the brand is worth even more. D. it cannot be successfully imitated by a retailer's own brand. E. competitors will typically abandon a sector altogether rather than compete.

a. it can protect the firm from competition

11. Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers crave the "latest and greatest" games. They use this information to create new products that primarily provide the benefit of A. keeping up in a market where sales come mostly from new products. B. satisfying the changing needs of former customers. C. avoiding market penetration from products that have been on the market for a long time. D. creating diversification and reducing risk. E. taking advantage of a long product cycle.

a. keeping up in a market where sales come mostly from new products

14. David's marketing research returned the finding that customers were staying away from his bookstore because of a lack of services like gift cards, return policies, and special orders. David was shocked. "Nobody ever asks about that stuff! If it were that important, people would ask about it." David is likely suffering from a(n) ________ gap. A. knowledge B. standards C. ethics D. delivery E. communications

a. knowledge

18. Felicia had just taken over her family's business after spending ten years in the marketing department of a large corporation. She met with a representative from one of her firm's biggest customers, who told her, "We should think about how we can make the pie bigger rather than fighting over the size of the slices." She had expected a more cutthroat approach rather than this call for a A. partnering relationship. B. shared mission statement. C. common marketing system. D. corporate vertical marketing system. E. linked supply chain.

a. partnering relationship

11. A __________ is a group of associated items that consumers tend to use together or think of as part of a group of similar products. A. product line B. product mix C. product mix breadth D. line extension E. brand extension

a. product line

19. Which of the following is a true statement about distribution centers? A. They enable retailers to carry less merchandise in individual stores. B. Distribution center space is typically more expensive than retail space. C. They are appropriate for all retailers, from the largest to the smallest. D. They are the quickest way to get all products to retailers. E. They complicate the process of predicting accurate sales forecasts.

a. they enable retailers to carry less merchandise in individual stores

18. Olga is the sales rep for ATV Communication Systems. She wants to bid on the RFP issued by Manitoba University for distance learning technology. She knows she will need to provide considerable information and demonstrations of her firm's technology because Manitoba University is in a new buy situation and does not have A. the money to afford it. B. any experience with the product it wishes to purchase. C. anyone interested in the technology. D. any derived demand for the system. E. any students who might be interested in distance learning.

b. any experience with the products it wishes to purchase

13. The three types of vertical marketing systems are administered, contractual, and A. cooperative. B. corporate. C. independent. D. coercive. E. conventional.

b. corporate

13. Marketers can take advantage of the variable nature of services by A. merging services with products. B. customizing services to meet customers' needs. C. offering to expedite intangibles. D. expanding the standards gap. E. using strict standardization.

b. customizing services to meet customers' needs

11. After need recognition and product specification, many firms using the B2B buying process A. identify contract specifications. B. issue a request for proposals from invited suppliers. C. proceed to proposal analysis. D. enter vendor negotiation and selection. E. revise their need recognition analysis.

b. issue a request for proposals from invited suppliers

10. Charlie is hoping to get a chance to bid on supplying key components to Ned's business. He is eager to move forward, but he must wait until A. Ned completes vendor negotiations. B. Ned develops a list of product specifications. C. Ned's buying center has an opening. D. Ned agrees to move Charlie's firm from the evoked set to the retrieval set. E. Ned completes the order specification process

b. ned develops a list of product specifications

13. Even if they succeed, new-to-the-world products are A. generally not profitable. B. not adopted by everyone at the same time. C. not capable of creating new markets. D. not subject to the law of first movers. E. typically very short-lived.

b. not adopted by everyone at the same time

6. Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can A. organize cooperative agreements among competing manufacturers to reduce oversupply. B. reduce inventories needed to satisfy retailers' demand. C. use exclusive geographic territories to centralize production. D. effectively eliminate the need for a dispatcher. E. replace independent supply chains with corporate supply chains

b. reduce inventories needed to satisfy retailers' demand

18. When a global firm turns to its subsidiaries in less developed markets for new product ideas, such as when Coca-Cola developed Minute Maid Pulpy out of its Shanghai research center and then moved the product into other markets around the world, the firm is engaged in A. a consortia. B. reverse innovation. C. competitive engineering. D. pioneering. E. beta testing.

b. reverse innovation

12. In most large organizations, several people are responsible for making a purchase decision. This group is called the A. supply chain. B. reselling team. C. decider group. D. buying center. E. expediters.

buying center

19. Companies that develop customized-business software often work closely with their users when installing their products. This close contact often creates new product ideas through A. reverse engineering. B. licensing technology. C. customer input. D. R&D consortia. E. clinical trials.

c. customer input

14. If a firm eliminates a product line, then it is A. increasing its product line depth. B. decreasing its product line depth. C. decreasing its product mix breadth. D. increasing its product mix breadth. E. introducing brand extensions

c. decreasing its product mix breadth

9. Marketing channels and supply chains comprise various buying entities that form relationships with one another. The basic motivating factor in these interactions is A. collaboration creates transactional relationships. B. the most powerful member of the supply chain always wins. C. each party wants something from the others. D. the participants must create the best possible EDI system. E. retail floor salespeople need emotional support from management.

c. each party wants something from the other

19. The value of a brand is often calculated by assessing the A. difference between brand equity and brand liability. B. corporate profitability divided by the monthly brand earnings. C. earning potential of the brand over the next 12 months. D. effect of brand dilution if it occurred. E. average product line depth.

c. earning potential of the brand over the next 12 months

15. Location-based software and applications can help bring special offers to customers right on their smartphones when they are in the process of making a purchase decision. This best represents which aspect of the 4E framework of social media marketing? A. engage B. energize C. excite D. experience E. educate

c. excite

13. Melanie is the director of human resources for a small manufacturing firm. She has a strong personal interest in technology, and is known throughout the firm as the one with the most knowledge about new kinds of communications technologies. If the firm decides to upgrade its network, Melanie will probably function in which role in the firm's buying center? A. leader B. initiator C. influencer D. decider E. gatekeeper

c. influencer

20. Twitter can help build a brand's image by educating and engaging consumers. However, one central issue for companies using Twitter is A. limiting the number of tweets per day. B. remunerating for posters. C. managing outgoing Twitter communication. D. eliminating negative posts. E. eliminating confusion with similar products

c. managing outgoing twitter communications

14. Research indicates that positively engaged consumers tend to be A. more socially outgoing. B. more profitable consumers. C. older and wealthier than average. D. younger and poorer than average. E. more critical consumers.

c. older and wealthier than average

19. Suppose that Nike wanted to use Facebook to increase awareness of a new line of tennis shoes. Which of the following methods would allow Nike to specifically target Facebook users who have mentioned tennis in their profiles? A. uploading a coupon to the Nike fan page B. encouraging Facebook users to "like" the Nike page so their friends will see this action C. placing a Facebook ad D. creating a Facebook tab allowing users to view the tennis clothing within Facebook E. placing a Facebook link on the Nike corporate website

c. placing a facebook ad

18. When consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand A. establishes novelty. B. is the only one the consumer will consider. C. reduces delivery costs. D. facilitates purchasing. E. creates brand dilution.

d. facilitates purchasing

20. Because they do so much driving while visiting doctors' offices and hospitals, pharmaceutical sales representatives are often given company cars to drive. When a pharmaceutical company like Merck is preparing to purchase new company cars, sales reps' feedback will be sought on car models and features, but the final decision will be made by higher levels of management. What role(s) do the sales reps play in the buying center? A. users B. initiators C. influencers D. users and influencers E. users and initiators

d. users and influencers

19. Firms typically repurchase office supplies (paper, ink cartridges, pens, etc.) through straight rebuys on their supplier's website. Should an office supplies sales rep stay in close touch with his or her current customers? Why or why not? A. No; this is a waste of time since straight rebuys are straightforward and easy to handle. B. No; the sales rep should be looking for new customers instead. C. Yes; straight rebuys require a lot of the sales rep's assistance. D. Yes; the sales rep might learn about a new opportunity in the need recognition stage. E. Yes; history has shown that online reordering can't be trusted.

d. yes the sales rep might learn about a new opportunity in the need recognition stage

6. In countries like the United States, services A. have almost all been replaced by technology. B. are a small portion of GDP relative to manufacturing. C. are replacing property taxes as a source of government revenue. D. will decrease in demand as the population ages. E. account for an increasing share of GDP.

e. account for an increasing share of GDP

16. When there is a significant difference between the service customers receive and the service the firm promotes, the firm has a _______ gap. A. knowledge B. standards C. social expectations D. delivery E. communications

e. communication

12. In a(n) __________ marketing channel, none of the participants have any control over the others. A. cooperative B. corporate C. contractual D. administered E. conventional

e. conventional

7. Sales of electric components manufactured by Rick's company depend on sales of new cars. Rick's company faces __________ demand. A. synthetic B. situational C. monopolistic D. contrived E. derived

e. derived

14. Many health insurance policies require patients to call and get preapproval for tests or procedures. The health insurance company acts as a(n) __________ for the purchase of these medical services. A. decider B. initiator C. influencer D. user E. gatekeeper

e. gatekeeper

15. In a vertical marketing system, if the system is _______, the less likely conflict will occur. A. less formal B. more independent C. less independent D. more conventional E. more formal

e. more formal

10. An advantage of a corporate blog is that all content on the blog can be completely controlled by the company. True False

false

10. On the diffusion of innovation curve, the late majority is the final group of buyers who like to avoid change and rely on traditional products until they are no longer available. TRUE FALSE

false

5. A company's product line consists of its various product mixes. TRUE FALSE

false

9. On the diffusion of innovation curve, the first group of buyers who want to be the first on the block to have the new product are known as early adopters. TRUE FALSE

false