CHS Marketing Final Exam Review

17) Which of the following do firms using value pricing tend to avoid? 17) ______ A) Setting a high price only because consumers already know the brand name B) Establishing a price level that gives the target market superior customer value C) Focusing on customer requirements and adopting a relevant marketing mix D) Delivering unexpected services which haven't been stated to the customer E) Building a relationship with a customer which raises their expectations

A

18) "Positioning" is a marketing management aid that refers to: 18) ______ A) how customers think about proposed and/or present brands in a market. B) a product's ability to provide both immediate satisfaction and social responsibility. C) how a firm approaches customer relationship management. D) a firm's ability to distribute products through intermediaries who are in the right position to reach target customers. E) all of these alternatives are true.

A

18) Routine completion of sales made regularly to target customers is done by 18) ______ A) an order taker. B) a merchandiser. C) an order getter. D) a supporting salesperson. E) a detailer.

A

19) When a producer has won brand insistence in its target market-and just wants to keep the product's name before the public-it can use: 19) ______ A) reminder advertising. B) institutional advertising. C) comparative advertising. D) pioneering advertising. E) direct-action advertising.

A

19) ______ are concerned with making the best use of a consumer's time and money—as the consumer judges it. 19) ______ A) Economic needs B) Psychological needs C) Behavioral influences D) Perceptual needs E) Social influences

A

2) Identify the characteristic nature of late majority. 2) _______ A) They respond more to social pressure from other late adopters than to salespeople. B) They have a lot of contact with early adopters. C) They use salespeople and have much contact with the early majority. D) They make a lot of use of mass media. E) They make a lot of use of salespeople.

A

2) The stage of the new-product development process in which marketers evaluate the firm's strengths, weaknesses, and objectives is ______. 2) _______ A) screening B) commercialization C) development D) idea generation E) idea evaluation

A

2) Trying to get the "cream" of a market (i.e., the top of a demand curve) at a high price before aiming at the more price-sensitive customers is consistent with a(an) ________. 2) _______ A) skimming pricing policy B) sales-oriented pricing policy C) penetration pricing policy D) flexible-price policy E) introductory price dealing policy

A

2) Which of the following countries' governments passed a soda tax to restrict the production and sale of sugary soft drinks? 2) _______ A) France B) India C) Germany D) Australia

A

2) Which of the following is NOT one of the sales presentation approaches discussed in the text? 2) _______ A) Target market approach B) Selling formula approach C) Prepared sales presentation D) Consultative selling approach E) None of these, i.e., all are discussed in the text.

A

20) In the United States, Pinterest had ________ percent of growth rate in the period 2012 to 2014. 20) ______ A) 87 B) 18 C) 65 D) 50 E) 40

A

20) When an online ad is delivered to a person's computer based on previous websites that person has visited, this is called: 20) ______ A) behavioral targeting. B) pay-per-view targeting. C) pioneering targeting. D) copy thrust targeting. E) pay-per-click targeting.

A

20) Which of the following is NOT a Place decision? 20) ______ A) Recruiting, selecting and managing the sales force. B) Degree of market exposure desired. C) Customer service level desired. D) Types of intermediaries needed. E) Type of distribution channel to use.

A

20) ________ refers to putting marketing plans into operation. 20) ______ A) Implementation B) Control C) Delivery D) Operational planning E) Strategy planning

A

21) "Advertising" 21) ______ A) is any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. B) is concerned with "promotion" using samples, coupons, and contests. C) involves direct spoken communication between sellers and potential customers. D) is the only form of mass selling. E) is also called "sales promotion."

A

21) By law, a firm may call a new product "new" for only a stipulated period of time. Such regulations are established by the ______. 21) ______ A) Federal Trade Commission (FTC) B) US Department of Justice (DOJ) C) Consumer Product Safety Commission (CPSC) D) Food and Drug Administration (FDA) E) Environmental Protection Agency (EPA)

A

21) Personal selling techniques include all of the following EXCEPT: 21) ______ A) preparing job descriptions. B) following up after the sale. C) making sales presentations. D) planning sales presentations. E) searching for prospects.

A

21) The appeal that has the most relevance to an economic buyer is ______. 21) ______ A) "Who doesn't want 50% more cash?" (Capital One Rewards Card) B) "Relentlessly protecting your identity" (LifeLock) C) "Expect great things" (Kohl's) D) "Live for now" (Pepsi) E) "I'm lovin' it" (McDonald's)

A

21) Total advertising expenditures by 2015: 21) ______ A) were more than $200 billion. B) were about 15 percent of all firms' sales. C) were larger in Europe than in the U.S. D) were under $25 billion. E) were larger in Asia than in the U.S.

A

22) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has ______. 22) ______ A) a pulling policy B) an intensive distribution policy C) a selective distribution policy D) a pushing policy E) a target marketing policy

A

23) Smartphones embedded with GPS (Global Positioning System) can be used as a medium to deliver ads based on customers'________. 23) ______ A) geographic location B) behavioral positioning C) ethnic identity D) attitude E) psychographics

A

23) The North American Free Trade Agreement (NAFTA): 23) ______ A) Has reshaped the rules of trade among the United States, Canada, and Mexico. B) Provides a plan to reshape the rules of trade among Germany, the United States, and Colombia. C) Makes it more difficult to resolve trade disputes among the countries participating in NAFTA. D) Eliminates the need for companies to adjust strategies.

A

24) For a successful sales presentation, which of the following steps in the personal selling process most likely occurs last? 24) ______ A) Follow up after purchase B) Preplan sales presentation C) Close sale D) Select target customer E) Make sales presentation

A

24) Which of the following is a website that permits users to create pinboards of ideas and images around a wide range of topics for sharing with fellow users? 24) ______ A) Pinterest B) hi5 C) Ning D) Reddit E) LinkedIn

A

24) _____ is a type of innovative product that requires customers adopting the innovation to significantly change their behavior. 24) ______ A) Discontinuous innovation B) Behavior-change innovation C) Dynamically continuous innovation D) Fad innovation E) Continuous innovation

A

25) Gross domestic product (GDP) is the: 25) ______ A) total market value of goods and services provided in an economy in a year by both residents and nonresidents of that country. B) total market value of goods (but not services) produced in an economy in a year. C) total market value of goods (but not services) consumed in an economy in a year. D) total cost of producing all goods and services sold in a year. E) total market value of goods and services consumed in a year.

A

25) Which of the following is the BEST example of a "generic market?" 25) ______ A) The senior citizen recreation market B) The designer shoes market C) The Hispanic-American market D) The transportation market E) The frozen yogurt market

A

25) ________ help(s) innovators develop hard-to-copy marketing strategies that will be very profitable for a long time. 25) ______ A) Breakthrough opportunities B) Competitive decisions C) Competitive marketing D) Opportunity segments E) Operational decisions

A

26) Which of the following is a disadvantage of flexible pricing? 26) ______ A) It can cause discontent among customers who realize they have paid a higher price than others. B) It allows a salesperson to adjust the price in response to competition. C) It allows a salesperson to adjust the price depending on his customer. D) It results in broadcasting a price that the competition can undercut. E) It leaves opportunities for sales by not adjusting to customers.

A

27) Which of the following statements about customer value is true? 27) ______ A) Retaining current customers is usually less costly than taking customers away from a competitor. B) Building relationships with customers means providing customer value before, but not after the purchase of a product or service. C) A firm's advertising department cannot be expected to develop ads to convince a customer to buy from the firm more than once. D) People in the organization who are not in the sales or customer service areas should never be called upon to help resolve a customer's problem. E) None of these statements is true.

A

27) Which of the following statements about direct-to-customer channels is False? 27) ______ A) Most consumer products are sold via direct-to-customer channels. B) Producers must sometimes use direct-to-customer channels because suitable intermediaries are not available. C) Service firms often use direct-to-customer channels. D) "Direct marketing" does not mean that a firm uses direct-to-customer channels. E) Many business products are sold via direct-to-customer channels.

A

27) ________ means that a firm has a marketing mix that the target market sees as better than a competitor's mix. 27) ______ A) Competitive advantage B) Comparative opportunity C) Market development D) Strategic policy E) Customer equity

A

28) ________ means that the marketing mix is distinct from what is available from a competitor. 28) ______ A) Differentiation B) Diversification C) Visible D) Operational E) Competitive

A

29) When consumers screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs, this is called ______. 29) ______ A) selective perception B) selective exposure C) cognitive perception D) selective retention E) conscious perception

A

30) On which of the five major social media platforms do customers average the least amount of time per day? 30) ______ A) LinkedIn B) Facebook C) Twitter D) Pinterest E) Instagram

A

30) Teenagers ______. 30) ______ A) have become a target for many firms B) have no influence on the buying behavior of their parents C) are not an attractive market because they do not spend much money D) have essentially the same buying habits as they had before reaching their teen years E) None of these alternatives is correct.

A

30) When a customer who buys two Apple iPhones, an Apple iMac computer, and Apple TV over a period of several years, Apple's marketing managers should be thinking about: 30) ______ A) customer lifetime value. B) differentiation. C) diversification. D) customer feedback loops. E) mass marketing.

A

30) When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser's ad and links to the advertiser's website, this process is called ________. 30) ______ A) pay-per-click B) pioneering ad C) copy thrust D) pay-per-view E) advertising allowance

A

31) The languages people speak, the type of education they have, and their religious beliefs are examples of the ________ environment. 31) ______ A) cultural and social B) economic C) technological D) political E) legal

A

32) An attitude is ______. 32) ______ A) a person's point of view about something B) the same as a belief C) easy to change D) the same as an intention to buy E) All of these alternatives are correct.

A

32) Which of the following is a SALES-ORIENTED pricing objective? 32) ______ A) Growth in market share B) Target return C) Meeting competition D) Nonprice competition E) Satisfactory profits

A

32) Which of the following statements is true of Pinterest? 32) ______ A) About three-quarters of Pinterest users are female. B) It is frequently used only by younger people, with no appeal in older age groups. C) About 55 percent of U.S. population used it in 2014. D) It does not insist on registration for sharing ideas and images. E) It is growing faster than all other social media platforms.

A

34) The three basic tasks of ALL managers, according to the text, are: 34) ______ A) planning, implementation, and control. B) hiring, training, and compensating. C) execution, feedback, and control. D) planning, staffing, and evaluating. E) marketing, production, and finance.

A

34) Underlying any economic environment is technology which affects: 34) ______ A) how the economy's resources are converted to output. B) how fast consumer attitudes change. C) how quickly technological developments lead to new consumer protection laws. D) how competitors react to each other. E) how aggressive competitors are in planning new marketing strategies.

A

34) _____ distribution is commonly used for convenience products and business supplies. 34) ______ A) Intensive B) Internal C) Selective D) Specialized E) Exclusive

A

35) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are called ________. 35) ______ A) advertising allowances B) push money allowances C) trade incentives D) quantity discounts E) brokerage allowances

A

36) Identify the social media that allows users to create, share ideas, and interact in a social network. 36) ______ A) Pinterest B) Television C) Magazine D) Radio E) Newspaper

A

36) Which of the following statements does NOT describe a command economy? 36) ______ A) Prices are set by the law of supply and demand. B) A command economy is sometimes called a "planned economy." C) Producers offer a highly limited assortment of goods and services. D) Government bureaucrats decide what and how much is to be produced. E) The economy is found in countries like Iran and North Korea.

A

37) Regarding the demand for business products, 37) ______ A) Demand for business products is derived from the demand for final consumer products. B) Industry demand is generally highly elastic. C) The demand facing most individual firms is fairly inelastic. D) All of these alternatives are correct.

A

37) Which of the following is one of the three basic ideas in the marketing concept? 37) ______ A) Profit as an objective B) Maximize sales C) Training D) Economies of scale E) Resource efficiency

A

38) The approach in which producers and intermediaries share the cost of ads in local media is called ________ advertising. 38) ______ A) cooperative B) institutional C) comparative D) campaign E) pioneering

A

38) Which of the following pricing policies involves entering a market with a single low price and not significantly increasing the price even upon gaining a major market share? 38) ______ A) Penetration price policy B) Zone pricing policy C) Introductory price dealing D) Skimming price policy E) Temporary price cut policy

A

39) "Promotion" does NOT include 39) ______ A) introductory price dealing. B) sales promotion. C) advertising. D) publicity. E) personal selling.

A

39) According to projections, the population of ________ is likely to grow by 9 percent between 2013 and 2025. 39) ______ A) United States B) Russia C) Singapore D) China E) Japan

A

4) A ________ is an organized table that compares the strengths and weaknesses of a company with those of its competitive rivals. 4) _______ A) competitor matrix B) insight table C) positioning graph D) competitor analysis E) competitive advantage

A

4) The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called ______. 4) _______ A) product liability B) design enforcement C) product responsibility D) rule of reason E) breach of warranty

A

4) The specific sales or profit objective a salesperson is expected to achieve is known as ________. 4) _______ A) sales quota B) sales maximum C) sales return D) sales standard E) sales range

A

4) The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people is called a(n) ______. 4) _______ A) culture B) personal environment C) opinion set D) learned set E) motivation

A

4) Which of the following are the basic types of promotion? 4) _______ A) personal selling, mass selling, sales promotion, and publicity B) only mass selling and personal selling C) only personal selling and publicity D) only mass selling and sales promotion E) only sales promotion and personal selling

A

4) Which of the following is LEAST likely to compete in the same generic market with the others? 4) _______ A) Napkin. B) Soft drink. C) Ice cream. D) Cookie. E) Popcorn.

A

41) Any distraction that reduces the effectiveness of the communication process is called 41) ______ A) noise. B) static. C) clutter. D) resonance. E) interference.

A

41) Which of the following is NOT one of the selective processes? 41) ______ A) Selective distribution B) Selective retention C) Selective perception D) Selective exposure E) All of these are selective processes.

A

45) An economic buyer is a person who ______. 45) ______ A) logically compares choices to get the greatest satisfaction from expenditures of time and money B) makes buying decisions based on behavioral needs rather than economic needs C) always buys the product that has the lowest price D) is not willing to pay extra for convenience E) All of these are characteristics of an economic buyer.

A

46) Identify the correct sequence of the levels involved in building brand familiarity. 46) ______ A) Brand rejection, brand nonrecognition, brand recognition, brand preference, brand insistence. B) Brand rejection, brand nonrecognition, brand recognition, brand activation, brand equity. C) Brand activation, brand rejection, brand recognition, brand preference, brand insistence. D) Brand evaluation, brand preference, brand recognition, brand rejection, brand activation. E) Brand insistence, brand equity, brand evaluation, brand insistence, brand rejection.

A

47) Between 2010 and 2020, the highest growth rate in population in the United States occurred in: 47) ______ A) the western states. B) the northwestern states. C) the midwestern states. D) the northeastern states.

A

47) The largest share of total advertising expenditures in the United States goes for ________ advertising. 47) ______ A) television (broadcast and cable) B) Internet C) direct-mail D) radio E) magazine

A

47) Which of the following statements about Place decisions is True? 47) ______ A) Different market segments may require separate Place arrangements. B) The product life cycle is not related to Place objectives. C) Place decisions are the same for any market. D) Place decisions are short-term decisions that are easy to change. E) Product classes are not related to Place objectives.

A

48) Ravi Singh is working his way through college as an independent distributor of the Rapier Knife Co. The Rapier product line includes kitchen knives, hunting knives, and other special-purpose cutlery. Ravi makes sales presentations to potential customers in their homes. If a customer wants to make a purchase, Ravi buys the knives from Rapier and sells them to the customer at a markup. For example, Rapier's most popular knife is a chef's knife that Ravi buys for $25 and resells to the consumer for $50. Ravi: 48) ______ A) Is engaged in direct selling, but is part of an indirect channel. B) Is engaged in direct marketing. C) Is part of a direct-to-customer channel. D) None of these alternatives is correct.

A

48) The AIDA model's four basic promotion jobs are concerned with 48) ______ A) attention, interest, desire, action. B) awareness, interest, decision, acceptance. C) action, interest, desire, acceptance. D) attention, internalization, decision, action. E) awareness, interest, demand, action.

A

48) Which of the following types of advertising is most appropriate for the awareness stage of an advertising campaign? 48) ______ A) Jingle B) Reminder ad C) Price deal offers D) Competitive ad E) Direct-action retail ads

A

49) A marketing strategy specifies: 49) ______ A) a target market and a related marketing mix. B) a target market and the company's objectives. C) all the company's resources. D) a marketing mix. E) a target market.

A

5) A rebate is 5) _______ A) a refund paid to consumers after a purchase. B) a temporary price cut to attract customers. C) a document detailing pricing changes. D) a temporary discount from the price list. E) a reduction in price to encourage buyers to pay their bills quickly.

A

5) The EARLY MAJORITY have a lot of contact with 5) _______ A) the mass media, salespeople, and early adopter opinion leaders. B) impersonal and scientific information sources. C) innovators. D) salespeople only. E) the mass media only.

A

5) ______ refers to a commitment to constantly make things better one step at a time. 5) _______ A) Continuous improvement B) Production focus C) Just-In-Time D) Ladder approach E) Sales orientation

A

5) ______________ means selling a product only through those intermediaries who will give the product special attention. 5) _______ A) Selective distribution B) Intensive distribution C) Multichannel distribution D) Exclusive distribution E) Administered distribution

A

50) The text discusses the evolution of business through five "eras." Which of the following is NOT one of these eras? 50) ______ A) Diversification era B) Simple trade era C) Production era D) Marketing company era E) Sales era

A

51) A firm that focuses its attention primarily on "selling" its present products in order to meet or beat competition is operating in which of the following "management eras"? 51) ______ A) Sales era B) Advertising era C) Production era D) Marketing company era E) Marketing department era

A

54) The universal functions of marketing include buying, selling, transporting, storing, standardization and grading, financing, risk taking, and ______. 54) ______ A) marketing information B) facilitating C) weighing D) merchandising information

A

55) The ultimate in personalization occurs when ______. 55) ______ A) targeting a segment of one B) creating opportunities in niche markets C) offering extended warranties D) identifying generic markets E) merging multiple submarkets

A

56) Macro-marketing ______. 56) ______ A) is a social process B) applies only to nonprofit organizations C) concerns the activities of individual managers D) helps consumers that need a narrow assortment of products E) is what people have in mind when they talk about marketing in everyday use

A

56) With respect to consumer products, which of the following is the most common system for distributing consumer products in the U.S.? 56) ______ A) Vertical marketing systems B) Direct channel systems C) Traditional channel systems D) Horizontal marketing systems E) None of these is a good answer

A

58) ______________ (as a way to enter foreign markets) means selling the right to use some process, trademark, patent, or other right for a fee. 58) ______ A) licensing B) Direct investment C) Management contracting D) Joint venturing E) Exporting

A

6) An advertising manager's job is to: 6) _______ A) manage the firm's advertising effort. B) plan creative marketing strategies. C) develop the firm's promotion blend. D) develop the firm's marketing mix. E) all of these are included in an advertising manager's job.

A

6) During the development step of new product development, a firm could develop a ______, an early sample or model built to test a concept. 6) _______ A) prototype B) creation C) ideatype D) concept test E) embryo concept

A

6) Rising costs and inflation are part of the uncontrollable ________ environment. 6) _______ A) economic B) social C) competitive D) technological E) legal

A

6) Which of the following lists include only psychological variables that affect consumer buying? 6) _______ A) Motivation, learning, perception, and attitudes B) Attitudes, personality, learning, and culture C) Perception, personality, learning, and culture D) Culture, learning, perception, and attitudes E) Culture, personality, perception, and attitudes

A

60) Intensive distribution at the retail level would probably be most appropriate for: 60) ______ A) Batteries B) Sports coats C) 10 speed bicycles D) 35mm cameras E) Tennis rackets

A

60) ______ in the marketplace are a rough measure of how society values particular goods and services. 60) ______ A) Prices B) Inventories C) The number of producers D) Discrepancies of quantity E) Cost of labor and materials

A

61) According to the text, segmenting should be viewed as a(n) ______________ process. 61) ______ A) "clustering" or aggregating B) combining C) mechanical, nonjudgmental D) assorting E) "breaking apart" or disaggregating

A

61) The primary purpose of branding is to ______. 61) ______ A) to identify a product B) to prevent competitors from stealing product ideas C) to increase quality D) to enhance package design E) to boost customer satisfaction

A

63) The value of a brand to its current owner or to a firm that wants to buy it is called ______. 63) ______ A) brand equity B) brand positioning C) brand identity D) brand reference E) brand preference

A

64) According to the text, "product": 64) ______ A) means the need-satisfying offering of a firm. B) means a physical good. C) refers to goods but not services. D) includes all the elements of a marketing mix. E) All of these choices are good answers.

A

64) Price is a rough measure of ______. 64) ______ A) customer value B) market supply C) company costs D) economic inflation E) company profit

A

66) In a retailer-led channel system, strategy decisions ________. 66) ______ A) on Promotion are handled by retailers B) on Product are handled by retailers C) on Price are completely handled by producers D) on Place are not a concern for retailers E) on target customers are handled by producers

A

66) ______________segmenting dimensions are those which actually affect a person's purchase of a specific product type or brand in a product-market. 66) ______ A) Determining B) Customer-related C) Qualifying D) Operational E) Situation-related

A

68) Electro Technologies, Inc. (ETI) has limited capital and wants to reduce the risk of competitors taking customers if it invests in a new product-market. Its broad product-market consists of three reasonably distinct submarkets. To identify a target market, ETI should probably focus on using the __________ approach. 68) ______ A) single target market B) combined target market C) multiple target market D) mass marketing E) none of these is a good choice for Electro Technologies.

A

69) Which of the following segmenting dimensions probably would be LEAST LIKELY to result in segments that would meet the criteria that product-market segments should be "operational"? 69) ______ A) Personality B) Geographic region C) Family size D) Age E) Income level

A

7) Most product-markets head toward ________ over the long run. 7) _______ A) pure competition B) collectivism C) monopolistic competition D) capitalistic competition E) monopoly

A

7) When a firm is interested in targeting customers during information gathering stage of the buying process and wants to measure return on investment in advertising, which of the following should it adopt for its digital advertising? 7) _______ A) Search advertising B) Directories and classifieds C) Social network advertising D) Banner ads E) Mobile advertising

A

7) Which of the following sales approaches is most to be suitable for simple order-taking? 7) _______ A) Prepared sales presentation B) Missionary sales approach C) Merchandising presentation D) Consultative selling approach E) Selling formula approach

A

70) The first step in market segmentation should be ______. 70) ______ A) defining some broad product-markets where you may be able to operate profitably B) evaluating what segment(s) you currently serve C) deciding what new product you could develop D) finding a demographic group likely to use your products E) listing features of your current products.

A

71) ________ conflict occurs between firms at the same level in the channel of distribution. 71) ______ A) Horizontal B) Cyclical C) Diagonal D) Parallel E) Vertical

A

72) According to the text, marketing means ______. 72) ______ A) much more than selling and advertising B) selling and advertising C) advertising D) producing and selling E) selling

A

72) Consumer product classes are based on ______, while business product classes are based on ______. 72) ______ A) how consumers shop for the product, how the product is to be used B) how the product is sold, how the product is produced C) the price of the product, the quality of the product D) how the product is produced, how the product is sold E) how the product is to be used, the price for the product

A

73) ______________ segmenting dimensions help decide whether a person might be a potential customer-but not which specific products or brands that person might buy. 73) ______ A) Qualifying B) Operational C) Situation-related D) Determining E) Customer-related

A

36) When segmenting broad product-markets, cost considerations tend to ______. 36) ______ A) to be unimportant as long as the segmenting dimensions are operational. B) dissuade segmenters from exploring other variables in the market C) to lead to more aggregating. D) to encourage managers to disregard the criterion that a product-market segment should be substantial. E) to lead to a large number of small, but very homogeneous, product-market segments.

C

37) A discount that is offered to encourage buyers to stock earlier than present demand requires is ________. 37) ______ A) a credit discount B) a cash discount C) a seasonal discount D) a quantity discount E) "push money"

C

37) Merchandising aids and promotional allowances are sales promotion activities aimed at 37) ______ A) final consumers. B) buyers. C) intermediaries (wholesalers and retailer). D) final users. E) company's own sales force.

C

37) What are the controllable variables the company puts together to satisfy this target group referred as? 37) ______ A) Marketing strategy B) Mass marketing C) Marketing mix D) Target marketing E) Direct marketing

C

37) Which is the first step in market segmentation? 37) ______ A) Evaluating market segments to determine if they are large enough. B) Finding one or two demographic characteristics to divide up the whole mass market. C) Naming a broad product-market of interest to the firm. D) Clustering people with similar needs into a market segment. E) None of these alternatives is the first step in market segmentation.

C

38) "Marketing strategy planning" means ________. 38) ______ A) finding attractive opportunities and selecting a target market B) selecting a target market and developing a marketing strategy C) finding attractive opportunities and developing profitable marketing strategies D) selecting an attractive marketing mix E) selecting an attractive target market

C

38) Channel specialists provide value to producers in the following circumstance ________. 38) ______ A) when the assortment and quantity of products customers want matches the assortment and quantity of products companies produce B) when customers prefer online purchasing C) when producers are located far from their customers and may not know how best to reach them D) when customers are well informed about their product choices E) when producers and customers exist in the same location

C

39) An economic buyer is a person who ______. 39) ______ A) always buys products at the lowest price possible B) will not pay extra for convenience C) compares choices to get the best deal D) is averse to spending time and money E) makes buying decisions based only on price

C

40) By 2015, advertising spending in the United States was almost ________ billion. 40) ______ A) $100 B) $350 C) $200 D) $500 E) $50

C

40) Which of the following is NOT one of the four variables in a marketing mix? 40) ______ A) Promotion B) Product C) Payment D) Place E) Price

C

41) The stage of the adoption process in which persuading ads for a product work best is ________. 41) ______ A) decision B) interest C) evaluation and trial D) awareness E) confirmation

C

42) A (n) ________ is a marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied. 42) ______ A) competitor analysis plan B) objective-centered approach C) sustainable competitive advantage D) competitor matrix E) resource combination

C

42) A channel system in which the various members agree by contract to cooperate with each other is called a(n) ________ system. 42) ______ A) multichannel distribution B) administered channel C) contractual channel D) vertically integrated channel E) traditional channel

C

42) The basic promotion objectives and adoption process fit very neatly with an action-oriented model, which is called the ______. 42) ______ A) bricks and clicks model B) economic buyer model C) AIDA model D) DAGMAR model E) bait and hook model

C

42) What sets the tone and direction for the whole company? 42) ______ A) manager's qualification B) expansion plan C) marketing plan D) sales and promotion E) management process

C

42) Which of the following is NOT a psychological variable? 42) ______ A) Learning B) Motivation C) Social class D) Attitudes E) Perception

C

43) Indirect competitive advertising seeks: 43) ______ A) to develop primary demand. B) immediate buying action. C) to develop selective demand-to affect future buying decisions. D) to develop goodwill for a company-so target customers will eventually buy one or more of its products. E) None of these alternatives is correct.

C

43) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. 43) ______ A) Mass marketing B) Strategic planning C) Market segmentation D) Diversification E) Market positioning

C

44) A target market and a related marketing mix make up a ________. 44) ______ A) Marketing program B) Marketing plan C) Marketing strategy D) Marketing proposal E) Marketing analysis

C

44) Manufacturer, service provider, government agency, wholesaler, etc. are designations used to segment business and organizational markets according to ______________. 44) ______ A) product use B) buying situation C) type of customer D) demographics E) kind of relationship

C

65) Positioning maps are based on ______. 65) ______ A) the opinions of the marketing managers B) the prices of competing products C) customers' perceptions of products D) the actual objective characteristics of products E) the potential places where a product may be sold and purchased

C

65) Since individual firms cannot perform all marketing functions, ______ often play a role in the exchange process. 65) ______ A) government regulators B) marketing managers C) intermediaries D) nonprofits E) consumers

C

67) Intermediaries in indirect channels of distribution: 67) ______ A) Do not provide additional convenience to consumers. B) Make it necessary for producers to carry more inventories. C) Often perform functions that producers cannot perform efficiently by themselves. D) Increase the need for producers to make large investments in distribution facilities and personnel. E) None of these alternatives is correct.

C

7) A macro-marketing system should ______. 7) _______ A) depend solely on a society's political institutions B) be part of a market-directed economy, not a command economy C) match supply and demand and accomplish a society's objectives D) provide everyone with the same goods and services

C

7) Logistics decisions include all of the following except: 7) _______ A) distribution service level. B) storage of goods. C) prices to charge for delivery. D) handling of goods. E) transporting of goods.

C

7) Which of the following refers to the managerial process of developing and maintaining match between an organization's resources and its market opportunities? 7) _______ A) Effective marketing strategy B) marketing mix decisions C) strategic management planning D) marketing management process E) advertising and promotional activities

C

7) Which of the following statements does not accurately characterize new-product development? 7) _______ A) New-product development is costly. B) Some companies move too slow to launch a new product. C) New-product development has a low risk of failure. D) New-product development has a high risk of failure. E) Some companies move too fast to launch a new product.

C

73) Brand recognition, brand preference, and brand insistence are various levels of ______. 73) ______ A) brand equity B) branding C) brand familiarity D) brand marks E) brand rejection

C

8) A Chinese site that is considered a hybrid of Twitter and Facebook in China with more than 300 million users is ________. 8) _______ A) PQ B) Digg C) Sina Weibo D) Vimeo E) Scribd

C

8) Which of the following problems led to the development of electronic data interchange (EDI)? 8) _______ A) International telecommunication difficulties B) Firms using different transportation modes C) Computer system differences among firms D) Differences in product output and quality levels E) Differences in order fulfillment processes

C

9) A visual aid to market segmentation is called the ______. 9) _______ A) target market B) heterogeneous market C) marketing grid D) homogenous market E) market boundary

C

9) A(n) _____ is a special kind of warehouse designed to speed the flow of goods and avoid unnecessary storing costs. 9) _______ A) shopping mall B) gateway for inventory C) distribution center D) UPC storage facility E) RFID warehouse

C

9) Any series of firms or individuals that participate in the flow of products from producer to final user or consumer is known as ________. 9) _______ A) customer service B) a packaging line C) a channel of distribution D) mass marketing E) a production line

C

9) The social media platform where customers can "Follow," "Tweet," "Re-Tweet," and comment to demonstrate support is called ________. 9) _______ A) LinkedIn B) Instagram C) Twitter D) Pinterest E) Ning

C

98) ________ decisions are often long-run effects and are harder to change. 98) ______ A) People B) Promotion C) Price D) Product E) Production

C

13) Which of the following is true about social networks? 13) ______ A) Houzz is a combination of Twitter and Facebook. B) Snapchat is used by Gen Z to write blogs and maintain diaries. C) QZone is especially popular among Russian speakers. D) Tumblr is a microblogging site for sharing all types of media from browser, phone, desktop, or e-mail. E) Google+ includes a highly engaged user base.

D

14) Identify the major social media platform that was least popular in the United States in 2014 among those older than 65 years. 14) ______ A) Facebook B) LinkedIn C) Pinterest D) Instagram E) Twitter

D

15) A straight salary 15) ______ A) is tied to results actually achieved. B) includes some salary and some commission. C) offers the most incentive. D) offers the most security for the salesperson. E) is based on the specific sales or profit objective a salesperson is expected to achieve.

D

15) Teenagers and young adults with no income and few assets are sometimes prime targets for credit card companies. In response, Congress in 2009 passed the Credit CARD Act, which requires that anyone under age ____ must have a cosigner or prove they can repay any debt. 15) ______ A) 23 B) 25 C) 17 D) 21 E) 18

D

15) The attitudes and behavior patterns of people are part of the 15) ______ A) economic and technological environment. B) political environment. C) firm's resources and objectives. D) social and cultural environment. E) competitive environment.

D

16) In the political environment, an emphasis on a single country's interests before everything else is called: 16) ______ A) Socialism. B) Elitism. C) Extremism. D) Nationalism. E) Regionalism.

D

16) Using temporary price cuts to speed a producer's new product into a market is known as ________. 16) ______ A) a penetration pricing policy B) a meeting competition pricing policy C) a skimming pricing policy D) introductory price dealing E) a flexible-price policy

D

17) A _____ is the complete set of firms, facilities, and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to customers. 17) ______ A) just-in time group B) physical distribution group C) logistics partnership D) supply chain E) none of these alternatives is a good answer

D

17) Early adopters 17) ______ A) tend to rely on information sources that are not controlled by marketers. B) are the first adoption curve group to buy a product. C) are commonly called buzz agents. D) tend to be opinion leaders. E) all of these alternatives are correct.

D

28) "Discrepancies of assortment" means ________. 28) ______ A) some producers can produce more products than others B) some consumers buy more products than others C) there are more producers than wholesalers D) the difference between the product lines the typical producer makes and the assortment wanted by final consumers or users E) consumers want more output than producers can make

D

28) When individual firms set their own prices-sometimes holding them steady for long periods of time-rather than letting daily market forces determine prices, such prices are called ________ 28) ______ A) parallel prices B) flexible prices C) fixed prices D) administered prices E) equilibrium prices

D

28) Which of the following is NOT one of the text's business product classes? 28) ______ A) Professional services B) Installations C) Raw materials D) Specialty products E) Component parts and materials

D

28) Which of the following represents earned media? 28) ______ A) Advertising on television, print, and radio B) Advertising on mobile devices, billboards, and online C) Selling company's social media D) Television news, newspaper articles and reviews E) Branded websites and brochures

D

29) Supplies can be divided into which of the following three types? 29) ______ A) Accessory equipment, raw materials, and component parts B) Homogenous, heterogeneous, and specialty C) Products, installations, and services D) Maintenance, Repair, and Operating E) Staples, impulse, and emergency

D

3) General Electric's "strategic planning grid" is an approach for: 3) _______ A) developing new products. B) developing marketing mixes. C) evaluating possible marketing objectives. D) evaluating existing and possible plans. E) selecting target markets.

D

3) Which of the following involves intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message? 3) _______ A) Online marketing B) Branding C) Product positioning D) Integrated marketing communications E) Digital marketing

D

30) A ______ is a word, letter, or group of words or letters. 30) ______ A) FTC B) SIC C) UPC D) brand name E) trademark

D

30) A one-price policy means offering the same price 30) ______ A) for all types of merchandise. B) all four seasons of the year. C) for store brands and national brands. D) to all customers. E) for individual consumers and organizational buyers.

D

31) Point-of-purchase materials is a sales promotion activity aimed at 31) ______ A) retailers. B) distributors. C) company's own sales force. D) final consumers. E) intermediaries.

D

32) Convenience products include: 32) ______ A) staple products. B) impulse products. C) emergency products. D) All of these are convenience products.

D

32) The "marketing concept" says that a business firm should ______. 32) ______ A) aim all its efforts at meeting society's needs-regardless of profitability B) treat advertising and selling as its priority C) place heavy emphasis on developing new products D) aim all its efforts at satisfying its customers—at a profit E) sell those products which it can make at lowest cost

D

33) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are: 33) ______ A) push money allowances. B) brokerage allowances. C) trade incentives. D) advertising allowances. E) quantity discounts.

D

33) ______________ means potential customers remember a particular brand. 33) ______ A) Brand rejection B) Brand nonrecognition C) Brand insistence D) Brand recognition E) Brand preference

D

34) Some marketers stretch the meaning of "attitude" to include ______. 34) ______ A) beliefs B) needs C) psychographics D) intention to buy E) actual purchasing behavior

D

34) When a manufacturing firm takes videos of its new product ranges using a smartphone app and shares them with its distributors using Facebook, which of the following options should be used for its free video sharing service? 34) ______ A) LinkedIn B) Ning C) Blab D) Instagram E) hi5

D

35) According to Jonah Berger's STEPPS for making an idea or message contagious, when the sharer looks good by sharing, ________ occurs. 35) ______ A) Practical value B) Triggers C) Emotion D) Social currency

D

35) The term "economies of scale" means that ______. 35) ______ A) the more one produces, the greater the profit B) it is more efficient for an economy to have a large number of transactions C) the largest producers are always the most efficient D) the cost of a product goes down as a company produces larger numbers of it E) None of these is correct.

D

36) A producer using several competing channels to distribute its products to its target market is using ________ distribution. 36) ______ A) horizontal B) intensive C) administered D) multichannel E) selective

D

1) A "Buy American" campaign is an example of ________. 1) _______ A) transnationalism B) federalism C) environmentalism D) consumerism E) nationalism

E

1) A firm's sales training should cover 1) _______ A) company policies and practices. B) product information. C) professional selling skills. D) building relationships with customers. E) all of these alternatives are correct.

E

1) Many consumers mentally block out marketing messages that do not interest them. This phenomenon is part of a person's ______. 1) _______ A) motivation B) needs C) learning D) attitudes E) perception

E

1) The owned media that focuses on moving a customer along in the purchase process by addressing the customer's needs and minimizing click-away is ________. 1) _______ A) case study B) leading page C) white paper D) blog E) landing page

E

10) "Place" is concerned with: 10) ______ A) intermediaries. B) transporting. C) storing. D) channel members. E) all of these might be involved with Place.

E

10) The current U.S. population is largest in which of the following states? 10) ______ A) New York. B) Texas. C) Florida. D) Illinois. E) California.

E

10) The sponsored software applications that benefit customers by providing entertainment, solving a problem, and/or saving time are called ________ apps. 10) ______ A) info B) promotion C) product D) target E) branded

E

10) When is repositioning needed? 10) ______ A) Markets become homogenous in between. B) Each market segment has its own preferences. C) Ethical issues arise in selecting segmenting dimensions. D) Direction of the marketing strategy is not clear or focused. E) Customers are not viewing the brand the desired way.

E

10) _____ is a time-related factor. 10) ______ A) Economy of purchase B) Environmental viability C) Sociological interest D) Demographic intensity E) Urgency of a need

E

11) Planning for mass selling involves strategy decisions about: 11) ______ A) how target customers are to be reached. B) what is to be said to the target customers. C) what kind of advertising is to be used. D) who is the target audience. E) All of these strategy decisions are involved in planning for mass selling.

E

11) Regarding alternative transporting modes, which of the following statements is TRUE? 11) ______ A) Airways are quickest. B) Rail C) Waterways usually provide the lowest cost way of shipping heavy freight. D) Pipelines offer reliability in moving oil and natural gas. E) All of these statements are TRUE.

E

11) The growth rate of Facebook in the period 2012-2014 was ________ percent. 11) ______ A) 50 B) 100 C) 25 D) 74 E) 6

E

11) When looking for attractive opportunities, a marketing manager should consider: 11) ______ A) the firm's financial strengths. B) whether the firm has good relations with established intermediaries. C) the firm's producing capability and flexibility. D) the firm's marketing strengths. E) All of these should be considered.

E

11) _____ is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities. 11) ______ A) Mass marketing B) Marketing control C) Target marketing D) Resource allocation E) Strategic (management) planning

E

12) "Product" is concerned with: 12) ______ A) services. B) packaging and warranty. C) physical goods. D) branding. E) all of these might be involved with Product.

E

12) Channel specialists use the regrouping activities of sorting and assorting to resolve ________. 12) ______ A) discrepancies of quantity B) discrepancies of time C) discrepancies of need D) discrepancies of place E) discrepancies of assortment

E

12) The Consumer Product Safety Commission can ______. 12) ______ A) back up its orders with fines B) order return of "unsafe products" C) back up its orders with jail sentences D) set safety standards for products E) All of these alternatives are correct.

E

13) "Promotion" includes: 13) ______ A) sales promotion. B) advertising. C) publicity. D) personal selling. E) All of these may be included in Promotion.

E

13) Decoding 13) ______ A) is any distraction that reduces the effectiveness of the communication process. B) is the process of transferring information from the subordinate to the superior. C) is the process of the source translating the message into words. D) is the process of the source deciding what it wants to say. E) is the process of the receiver translating the message.

E

13) When a firm spends its resources on advertising and sales promotion, which of the following is likely to occur? 13) ______ A) The results actually achieved through these activities are easy to measure. B) It rarely fails to achieve objectives. C) The results achieved are even, but highly unpredictable. D) It motivates only the channel members and not the final consumers. E) Half of the money spent on these activities is wasted.

E

13) Which of the following steps in the personal selling process typically occurs before the target customer is selected? 13) ______ A) Close sale B) Follow up after sales call C) Preplan sales call D) Make sales presentation E) Set effort priorities

E

14) Marketers segment broad markets into smaller target segments based on a variety of ______. 14) ______ A) marketing grids B) data C) positioning maps D) qualifiers E) dimensions

E

15) "Place" is concerned with: 15) ______ A) intermediaries located between producers and consumers. B) getting the product to its intended market. C) where, when, and by whom goods are offered for sale. D) when and where products are wanted. E) all of these might be involved with Place.

E

15) Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following the ______ approach. 15) ______ A) mass marketing B) niche market targeting C) multiple target market D) combined target market E) single target market

E

16) At least ________ percent of all freight shipped in the United States moves by trucks at least part of the way from producer to user. 16) ______ A) 5 B) 10 C) 20 D) 15 E) 75

E

16) Clustering techniques 16) ______ A) group customers into heterogeneous segments. B) use intuition and judgment to do what previously was done by computers. C) help sellers fine-tune the marketing effort with information from a detailed customer database. D) establish how customers think about proposed or present brands in a market. E) try to find similar patterns within sets of data.

E

16) The small file, placed on the computer of a customer who visits a website, which helps to track the customer and infer the customer's interests is called a(n) ________. 16) ______ A) reminder B) target chip C) product D) identity tag E) cookie

E

1) The physical distribution ________________________ is how rapidly and dependably a firm can deliver merchandise in demand through the appropriate channels. 1) _______ A) trade-offs service level B) customer service level C) efficiency service level D) product service level E) standard service level

B

16) When a firm tries to increase sales by selling its present products in new markets, this is called: 16) ______ A) diversification. B) product development. C) market penetration. D) mass marketing. E) market development.

E

16) Which of the following sources of buying information is trusted by 68 percent of consumers? 16) ______ A) Ads in magazines B) Ads on TV C) Ads on radio D) Branded websites E) Consumer opinions posted online

E

17) A ______ is a group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services. 17) ______ A) segment B) consumer forum C) generic industry D) product E) market

E

17) Which of the following represents traditional media that can help advertising of products? 17) ______ A) Instagram B) LinkedIn C) Twitter D) Facebook E) Television

E

10) The 80/20 rule-that 80 percent of a company's sales often come from just 20 percent of its customers-is a good reason for marketers to use ________. 10) ______ A) international distribution B) selective distribution C) exclusive distribution D) multichannel distribution E) intensive distribution

B

10) Trying to sell a firm's new product to a large market at one low price is known as ________. 10) ______ A) a skimming pricing policy B) a penetration pricing policy C) introductory price dealing D) a flexible-pricing policy E) nonprice competition

B

101) The text suggests that a "channel captain" should be: 101) _____ A) a strong wholesaler. B) any of these-i.e. whoever can provide leadership. C) a large retailer. D) a market-oriented producer.

B

11) A sales presentation in which the sales rep does most of the talking, using a "canned" presentation to obtain a "yes" answer to a "trial close" is a 11) ______ A) consultative selling presentation. B) prepared sales presentation. C) target market presentation. D) selling formula presentation. E) None of these is a good answer.

B

11) Each of the following statements regarding online promotional communications is true except that ______. 11) ______ A) online complaints can serve the purpose of highlighting unmet customer needs B) marketing managers need not focus on online information they don't create C) customers often make purchases based on information that was not influenced by the product's marketing manager D) marketing managers need to know where customers are likely to search for information and monitor what is being said there E) customers who search online often find messages outside the marketer's control

B

11) When Renault Motor Co. builds a new production facility in Venezuela and it is the sole owner of the facility, this is an example of a(n) ________ investment approach. 11) ______ A) licensing B) direct C) management contracting D) indirect E) joint venture

B

11) Which of the following is LEAST LIKELY to be in the "something of value" part of the "price equation" for CHANNEL MEMBERS? 11) ______ A) promotion aimed at customers B) rebates C) price-level guarantees D) service-repair facilities E) convenient packaging for handling

B

12) A marketing manager may choose a pricing objective that is 12) ______ A) status quo oriented. B) any of these-depending on the situation. C) profit oriented. D) sales oriented.

B

12) Which country limits the use of political ads on TV? 12) ______ A) Canada B) New Zealand C) Japan D) USA E) Australia

B

14) A retailer's promotion objective might be to ______________ its target market about its marketing mix. 14) ______ A) inform B) Any of these might be a promotion objective. C) persuade D) remind

B

14) Analyzing customer comments and other companies to find new product concepts is carried out during which step of the new-product development process? 14) ______ A) Screening B) Idea generation C) Commercialization D) Idea evaluation E) Development

B

14) The _____ type of competitive advertising aims for immediate buying action. 14) ______ A) interactive B) direct C) indirect D) identity E) strategic

B

14) The triple bottom line is a measure of a firm's success based on multiple criteria commonly referred to as ______. 14) ______ A) partnership, planning, and positioning B) people, planet, and profit C) brands, buyers, and bucks D) product, price, and promotion E) segmentation, targeting, and positioning

B

14) Which of the following is NOT one of the degrees of market exposure? 14) ______ A) Multichannel distribution B) Selective distribution C) Intensive distribution D) Exclusive distribution

B

14) ________ assume(s) that everyone is the same-and consider(s) everyone to be a potential customer. 14) ______ A) Objective marketing B) Mass marketing C) Target marketers D) Mass marketers E) Target marketing

B

15) A visual image such as a chart or diagram used to represent information or data is called ________. 15) ______ A) heavy text B) infographic C) brand app D) image study E) symbolic pattern

B

18) A consumer who is interested in making the switch from a desktop computer to a tablet computer may require a prolonged learning and trial process known as ______. 18) ______ A) the consumer decision process B) limited problem solving C) selective exposure D) lifestyle analysis E) the adoption process

E

18) The "regrouping activity" which involves breaking carload or truckload shipments into smaller quantities as products get closer to final customers is called: 18) ______ A) retailing. B) accumulating. C) sorting. D) assorting. E) bulk-breaking.

E

18) Which of the following is a profit-oriented pricing objective? 18) ______ A) Sales growth B) Meeting competition C) Nonprice competition D) Growth in market share E) Target return

E

19) Gross national income (GNI) is the total ________. 19) ______ A) market value of goods (but not services) consumed in an economy in a year B) cost of producing all goods and services sold in a year C) market value of goods (but not services) produced in an economy in a year D) market value of goods and services consumed in a year E) market value of goods and services provided in an economy in a year by residents of that country

E

15) GEICO's aggressive advertising campaign of the late 1990s was designed to accomplish which of the following objectives? 15) ______ A) Enable the company to avoid filing bankruptcy B) Win customers away from established competitors C) Continue widespread recognition of the brand D) Target the low-risk market of federal employees E) Target the high-risk market of military personnel

B

15) Product life cycles ______. 15) ______ A) are identical in length across all geographic regions B) vary in length but are generally getting shorter C) are very long for movies D) average 90 days E) last 5 years for each product idea

B

15) With regards to the Hispanic population, which of the following is FALSE? 15) ______ A) Hispanics are the largest ethnic group in the U.S. B) In 2013, over 25% of the U.S. population was Hispanic. C) In 2013, the Hispanic population of the U.S. was about 54.1 million. D) In 2010, about 23% of all children under 18 are Hispanic. E) Hispanics are the fastest growing ethnic group in the U.S.

B

16) A vertical marketing system owned and operated by a single firm is called a ________ channel system. 16) ______ A) nonprofit B) traditional C) corporate D) contractual E) administered

B

16) Of the following, which are the most receptive to new products and new brands? 16) ______ A) All are equally receptive to new products and new brands. B) Young people C) Senior citizens D) Middle-aged people E) Empty-nesters

B

17) New products that are minor variations on existing products, and which require no change to consumer behavior, are called _____. 17) ______ A) discontinuous innovation B) continuous innovations C) second movers D) fads E) new products

B

17) Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"? 17) ______ A) Consumer products linked to cultural variables. B) Industrial products. C) "Me-too" products. D) Fad products. E) Commodity-type consumer products.

B

17) ______ refers to the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits. 17) ______ A) Net value B) Customer value C) Satisfaction D) Profit margin E) Operating cost

B

17) ________ is the expected earnings stream of a firm's current and prospective customers over some period of time. 17) ______ A) Profit B) Customer equity C) Operating profit D) Earnings E) Net value

B

18) Personal selling 18) ______ A) is communicating with large numbers of potential customers at the same time. B) involves direct spoken communication between sellers and potential customers. C) is less flexible than mass selling. D) involves advertising and publicity. E) is included in most marketing mixes as it is inexpensive.

B

18) The _____ environment sets the basic rules for how a business can operate in society. 18) ______ A) social B) legal C) cultural D) technical E) economic

B

19) Primary demand 19) ______ A) is the main form of mass selling. B) is the demand for the general product idea. C) is just the demand for the company's own brand. D) is any paid form of nonpersonal presentation of ideas, or services by an identified sponsor. E) is any unpaid form of nonpersonal presentation of ideas, goods, or services.

B

19) The ______ era is a time when a company emphasizes selling because of the increased competition in the external environment. 19) ______ A) supply B) sales C) demand D) marketing E) production

B

19) The fastest growing of the five major social media platforms during the period 2012-2014 is ________. 19) ______ A) Pinterest B) Instagram C) Facebook D) LinkedIn E) Twitter

B

2) The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the ________ environment. 2) _______ A) economic B) competitive C) social D) political E) cultural

B

2) The source of buying information trusted by the least percentage of consumers is ________. 2) _______ A) ads on social networks B) text ads on mobile phones C) ads on radio D) brand sponsorships E) online banner ads

B

2) Which of the following type of digital advertising works best for high involvement products and immediate purchases? 2) _______ A) Search advertising B) Mobile advertising C) Pop-up ads D) Social network advertising E) Directories and classifieds

B

20) Competition for a product or product category begins to increase rapidly during the ______ stage of the product life cycle. 20) ______ A) market maturity B) market growth C) market introduction D) market extinction E) sales decline

B

19) Marketing managers should make specific strategy decisions about 19) ______ A) how many and what kind of salespeople are needed. B) how salespeople should be compensated and motivated. C) how salespeople should be selected and trained. D) what kind of sales presentation should be used. E) All of these alternatives are correct.

E

20) Regarding alternative transporting modes: 20) ______ A) waterways are slow, costly, and unable to handle a variety of shipments. B) trucks are good for speed, frequency, dependability, and number of locations served. C) pipelines are slower and less dependable than water transport, but also less expensive and able to serve more locations. D) airways are faster, cheaper, and more dependable than railways.

B

22) A brand's product website, blog, and social media pages like Facebook or Instagram are examples of ________ media. 22) ______ A) specific B) owned C) earned D) paid E) indirect

B

22) A change in the ________ environment can affect consumer purchases of homes, cars, and other items usually bought on credit. 22) ______ A) legal B) economic C) technological D) social or cultural E) political

B

22) Advertising which tries to develop primary demand for a product category rather than a specific brand is called ______________ advertising. 22) ______ A) competitive B) pioneering C) persuading D) comparative E) institutional

B

22) Considering weight, the most expensive cargo transporting mode is ________. 22) ______ A) trucks B) airfreight C) railroads D) inland waterways E) pipelines

B

22) Marketing strategies ________. 22) ______ A) provide a limited picture of what a firm will do in some market B) are not whole-company plans C) ensure sales and profit for the company D) ensure that every opportunity is good for every company E) do not specify target markets and related marketing mixes

B

22) The introduction of a new flavor of Dr. Pepper is an example of a ______. 22) ______ A) trivial innovation B) dynamic innovation C) discontinuous innovation D) practical innovation E) continuous innovation

B

31) Which of the following statements accurately defines the term "sales promotion"? 31) ______ A) It is "free" like publicity. B) It can complement a firm's personal selling and mass selling efforts. C) It is any paid form of nonpersonal presentation of goods or services by an identified sponsor. D) It involves direct spoken communication between sellers and potential customers. E) It consists of personal selling and mass selling.

B

31) ________ means trying to increase sales by selling present products in new markets. 31) ______ A) Product development B) Market development C) Market penetration D) Differentiation E) Diversification

B

32) A cleaning service that provides a description of its services via its website is most likely accomplishing which of the following promotion objectives? 32) ______ A) Prioritizing B) Informing C) Strategizing D) Persuading E) Reminding

B

32) The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called ________. 32) ______ A) marketing programming B) strategic (management) planning C) market planning D) management by objective E) marketing strategy planning

B

32) What is the objective of pioneering advertising? 32) ______ A) It keeps the product's name before the public. B) It develops primary demand for a product category. C) It builds demand for a specific brand. D) It develops goodwill toward a company. E) It maintains focus on the prestige of an organization.

B

33) One way marketers can screen for opportunities that are good for society is to screen based on the criteria of: 33) ______ A) business strengths. B) sustainability. C) profitability. D) growth. E) return on investment.

B

33) Which of the following pricing objectives is a producer seeking when the producer tries to obtain some percent return on his investment? 33) ______ A) Meeting competition B) Target return C) Status quo D) Profit maximization E) Growth in market share

B

34) Which of the following is NOT one of the universal functions of marketing? 34) ______ A) Buying B) Production C) Standardization D) Transporting E) Financing

B

34) ______________ is the words and illustrations of an ad message that actually communicate information to the target customer. 34) ______ A) Copy proof B) Copy thrust C) Copy edits D) Copy objective E) Copy text

B

35) A marketing mix consists of: 35) ______ A) all variables, controllable and uncontrollable. B) product, price, promotion, and place. C) policies, procedures, plans, and personnel. D) the customer and the "four Ps."

B

19) Some manufacturers give ________ to retailers to pass on to the retailers' salesclerks to encourage aggressive selling of specific items or lines. 19) ______ A) slotting allowances B) advertising allowances C) quantity discounts D) cash discounts E) "push money"

E

19) When a market test for a new product is successful, the firm typically introduces the product in different regions of the U.S. in sequential stages. This process is called a ______. 19) ______ A) TQM B) concept test C) JIT D) fallout E) rollout

E

19) Which of the following statements is true regarding alternative transporting modes? 19) ______ A) Railways provide the lowest cost considering weight. B) Waterways serve the most locations. C) Most cities in the United States are less than 200 miles from a major petroleum pipeline. D) Pipelines in the U.S. are located mostly in the Northeast. E) Airways offer the most expensive transporting mode.

E

2) To what does the physical distribution customer service level refer? 2) _______ A) It refers to the effort put in by channel members to meeting customer needs. B) It refers to the costs to carry a product in inventory. C) It refers to the length of time a product is stored in inventory. D) It refers to the location of distribution centers. E) It refers to the ability of a firm to deliver rapidly and dependably what customers want.

E

20) Once the compensation level for a producer's salespeople has been set, the particular METHOD of payment depends on the 20) ______ A) desire for simplicity. B) setting of sales quotas. C) need for control. D) need for incentive. E) All of these alternatives are correct.

E

20) Trust is the confidence a person has in the promises or actions of ______. 20) ______ A) a company B) a brand C) a recommender D) another person E) All of these choices are correct.

E

20) ______ aim at one or more homogeneous segments and try to develop a different marketing mix for each segment. 20) ______ A) Segment aggregators B) Combiners C) Segment combiners D) Multipliers E) Segmenters

E

21) "Promotion" may include: 21) ______ A) mail-order selling. B) personal selling to channel members. C) point-of-purchase materials. D) advertising on the Internet. E) All of these may be included in Promotion.

E

21) Almost any business transaction in a modern economy involves ________. 21) ______ A) "dumping" B) an exchange in which price serves as a measure of quality C) an exchange at a list price D) a loss of consumer surplus E) an exchange of money-the money being the Price-for something of value

E

21) The source of buying information trusted by the greatest percentage of consumers is ________. 21) ______ A) paid magazine ads B) paid television ads C) brand websites D) online consumer opinions E) personal recommendations

E

21) Which of the following is a consumer market demographic dimension? 21) ______ A) Stage in family life cycle B) Income distribution C) Ethnic group D) Family size E) All of these are examples of a consumer market demographic dimension

E

30) Marketing managers should remember that there are many variables in the ____________ that affect strategy planning. 30) ______ A) competitive environment B) cultural and social environment C) political and legal environments D) economic and technological environments E) all of these environments have variables that affect strategy planning

E

30) ________ means selling a product through only one wholesaler or retailer in a particular geographic area. 30) ______ A) Multichannel distribution B) Selective distribution C) Direct distribution D) Intensive distribution E) Exclusive distribution

E

31) A product-market definition should include: 31) ______ A) product type. B) geographic area. C) customer needs. D) customer types. E) All of these alternatives are correct.

E

31) A website that allows registered users to share ideas and images they find online with fellow users and organize their ideas into pinboards is ________. 31) ______ A) Quora B) Twitter C) Reddit D) hi5 E) Pinterest

E

31) Discretionary income is the portion of a person's income that pays for ______. 31) ______ A) insurance B) rent C) taxes D) food E) luxuries

E

31) From the macro-marketing perspective, the spatial separation that exists between military equipment manufacturers and the people who use the equipment overseas is directly addressed through this marketing function ______. 31) ______ A) financing B) storing C) risk taking D) market information E) transporting

E

32) In general, marketers that seek greater control over their marketing mixes in the international environment will: 32) ______ A) set up traditional global channels. B) use intensive distribution. C) choose to export or license. D) hire more marketing managers. E) invest more financial resources and take greater risks.

E

35) A one price policy means ________. 35) ______ A) offering the same price to customers, but the price depends on the store which is selling the product B) offering the same price to all customers who purchase products under the same conditions and in the same quantities C) equating price with the per-unit cost of production D) offering the same price on all its products irrespective of the manufacturing, designing, and marketing costs E) offering the same price to distributors, retailers, and customers

B

35) Regarding segmenting, as opposed to combining: 35) ______ A) Segmenting limits a firm to smaller sales potential and lower profits. B) Segmenters try to satisfy consumers "very well" instead of "pretty well." C) Segmenting is usually a riskier approach than combining. D) A segmenter with limited resources may have to use the multiple target market approach instead of the single target market approach. E) All of these alternatives are true.

B

35) What do business product classes reflect? 35) ______ A) what intermediaries think about the products and how they should be marketed B) what buyers think about the products and how they are used C) what distributors think about the products and how they must be distributed D) what customers think about the products and how they must be priced E) what producers think about the products and how they are promoted

B

35) Which of the following statements defines a sales meeting? 35) ______ A) It is a method of promotion implemented where the employees' effort is an expendable part of the product. B) It is a type of internal marketing effort which is a variation on the pushing approach. C) It is a type of external marketing effort. D) It is basically a variation on the pulling approach. E) It is a type of internal marketing effort which is a combination of both the pushing and pulling approach.

B

35) _____ means a product's ability to satisfy a customer's needs or requirements. 35) ______ A) Brand B) Quality C) Assortment D) Service E) Trademark

B

36) Physiological needs are concerned with ______. 36) ______ A) protection and physical well-being B) biological needs C) responsibility and independence D) love, friendship, status, and esteem E) an individual's need for personal satisfaction

B

36) Which of the following is the likely impact of the "unification of Europe"? 36) ______ A) Consumer prices rose and job opportunities became limited. B) Many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. C) The need to adjust strategies to reach submarkets of European consumers disappeared. D) The unification complicated inter-European commerce and trade directly. E) Firms operating in Europe had harder access to large markets.

B

37) A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ________. 37) ______ A) Antimerger Act B) Robinson-Patman Act C) Wheeler-Lea Amendment D) Magnuson-Moss Act E) Sherman Act

B

37) A(n) ______ refers to the people to whom an individual looks when forming attitudes about a particular topic. 37) ______ A) ethnic group B) reference group C) social class D) family E) focus group

B

38) Gross domestic product (GDP) is the: 38) ______ A) manufacturers' selling price of goods (but not services) produced in a year. B) total market value of goods and services provided in an economy in a year by both residents and nonresidents of that country. C) total market value of goods and services consumed in a year. D) total market value of goods (but not services) produced in an economy in a year. E) None of these definitions of GDP is correct.

B

38) The fact that the demand for business products depends a lot on the demand for final consumer products is called: 38) ______ A) diminishing demand. B) derived demand. C) primary demand. D) elastic demand. E) secured demand.

B

4) Competitive advertising which makes specific brand comparisons-using actual names-is ______________ advertising. 4) _______ A) pioneering B) comparative C) institutional D) cooperative E) direct competitive

B

4) Considering weight, which one of the following transporting modes usually has the LOWEST cost? 4) _______ A) Railroads B) Waterways C) Trucks D) Pipelines E) Airways

B

1) A marketing manager might offer a cash discount to channel members to 1) _______ A) encourage them to buy in larger quantities. B) increase sales during a slow period. C) encourage buyers to pay their bills quickly. D) reduce shipping or selling costs. E) All of these alternatives are correct.

C

1) The competitive advertising that points out product advantages to affect future buying decisions is ________. 1) _______ A) phonetic B) direct C) indirect D) interactive E) strategic

C

1) Which of the following blends all of the firm's marketing plans into one big plan? 1) _______ A) Marketing mix. B) Marketing overview C) Marketing program D) Marketing statement E) Marketing flow

C

1) Which of the following is the BEST example of a "generic market?" 1) _______ A) the e-commerce market. B) the minivan market. C) the "singles" entertaining market. D) the beer market. E) the meat market.

C

1) Which of the following is true of a producer-led channel system? 1) _______ A) Intermediaries select the target market, while producers develop the product. B) The system is effective when a producer's brand requires penetration pricing. C) The intermediaries do not support the producer at any stage. D) Producers fix the prices of their offerings. E) The system is implemented when producers are small.

C

10) In an advanced economy, marketing costs account for about ______ cents of every consumer dollar. 10) ______ A) 20 B) 30 C) 50 D) 10 E) 40

C

11) A generic market definition includes all of the following terms EXCEPT: 11) ______ A) customer needs. B) customer type. C) product type. D) geographic area

C

11) What are the basic forces that motivate a person to do something? 11) ______ A) Actions B) Drives C) Needs D) Desires E) Aspirations

C

12) About what percentage of the cost of hospital supplies in the U.S. is the result of logistics? 12) ______ A) 15 percent B) 25 percent C) 33 percent D) 40 percent E) 20 percent

C

12) Alberto Romez earned $100,000 last year as a Mercedes sales rep. He paid $10,000 in taxes, and another $25,000 on food, housing, and other necessities. Alberto's discretionary income was $______. 12) ______ A) 55,000 B) 35,000 C) 65,000 D) 75,000 E) 45,000

C

12) Macro-marketing ______. 12) ______ A) considers how marketing affects society, but not how society affects marketing B) is mainly concerned with the activities of individual organizations C) emphasizes how the whole marketing system works D) matches homogeneous supply and demand

C

12) Which of the following is the WORST example of a "generic market"? 12) ______ A) The home improvement market. B) The recreation market. C) The designer jeans market. D) The information storage market. E) The entertainment market.

C

13) A useful tool for organizing the competitor analysis is ________. 13) ______ A) rivals chart B) the oligopoly chart C) a competitor matrix D) the table of competitive rivals E) a competitor grid

C

13) Final customers or users are normally asked to pay ________ prices for products they buy. 13) ______ A) phony list B) wholesale list C) basic list D) discounted E) unchanging list

C

36) The innovators are the group of customers who 36) ______ A) tend to be older, less well educated, and cling to the status quo thinking it is the safest way. B) have fewer contacts outside their own social group or community. C) tend to have the greatest contact with salespeople. D) are likely to be mobile and have many contacts outside their local social group and community. E) tend to avoid risk and wait to consider a new idea after many early adopters have tried it-and liked it.

D

36) When a firm tries to increase sales by offering new or improved products to its present markets, this is called: 36) ______ A) diversification. B) mass marketing. C) market development. D) product development. E) market penetration.

D

36) ____ are short-lived capital items. 36) ______ A) Installations B) Raw materials C) Professional services D) Accessories E) Components

D

37) Retail stores that sell "seconds" and "irregular" products at discount prices are flourishing all over the country. These stores are needed because of what regrouping activity? 37) ______ A) Accumulating B) Bulk-breaking C) Wholesaling D) Sorting E) Assorting

D

38) Which of the following is a BEHAVIORAL segmenting dimension? 38) ______ A) Education B) Region of the world or country C) Income D) Needs E) Ethnicity

D

39) Identify the source of buying information that is trusted by 37 percent of consumers. 39) ______ A) Ads in magazines B) TV program product placements C) Ads on radio D) Text ads on mobile phones E) Branded websites

D

39) Marketing ______. 39) ______ A) does not impact consumers' standard of living B) means "selling" or "advertising" C) involves actually making goods or performing services D) provides direction for production E) is the development and spread of new ideas, goods, and services

D

21) "Discrepancies of quantity" occur because 21) ______ A) adding intermediaries in a channel of distribution increases the cost of getting products to consumers. B) most intermediaries specialize in selected product lines and buy in large enough quantities to get a good price. C) producers seek economies of scale. D) consumers want the convenience of buying many different types of products at one time. E) all of these reasons are correct.

C

21) The ________ concept says that all transporting, storing, and product-handling activities of a business and a channel system should be thought of as part of one system—one system that seeks to minimize the cost of distribution for a given customer service level. 21) ______ A) PERT B) product-market C) physical distribution D) unique marketing E) distribution center

C

22) Compared to a product-market, a generic market: 22) ______ A) Can never help marketers identify opportunities. B) Is more narrowly defined. C) Has sellers offering a more diverse set of products. D) None of these is a good answer.

C

23) "Production orientation" refers to the attitudes of ______. 23) ______ A) sales managers B) accountants C) anyone who doesn't practice the marketing concept D) financial managers E) production managers

C

23) The ______ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted. 23) ______ A) People B) price C) place D) Promotion E) Product

C

39) The Robinson-Patman Act says that to be legal, price differences must be based on: 39) ______ A) transportation differences B) a reasonable profit margin as determined by the FTC C) freight costs D) a need to meet competition and cost differences E) None of these alternatives is correct.

D

39) To understand the narrowing-down process, it's useful for mangers to think in terms of a ______ market and a ______ market. 39) ______ A) risky; certain B) generic; product C) buyer's; seller's D) primary; secondary E) goods; services

D

39) Which of the following is one of three basic marketing management jobs? 39) ______ A) To direct the implementation of plans B) To plan marketing activities C) To control the plans in actual operation D) All of these are basic marketing management jobs

D

4) "Unfair trade practice acts" ________. 4) _______ A) prohibit intermediaries from taking excessive markups B) make price fixing illegal C) eliminate price competition on manufacturers' brands D) put a lower limit on prices, especially at the wholesale and retail levels E) require different types of retailers to charge different retail prices

D

23) The product life cycle is divided into four major stages. They are ______. 23) ______ A) concept introduction, market decline, market maturity, and sales decline B) market introduction, profit growth, market maturity, and profit decline C) market introduction, market growth, market maturity, and sales decline D) ideation, market growth, market maturity, and investment decline E) market penetration, market growth, market maturity, and sales decline

C

24) An intermediary ______. 24) ______ A) usually increases the number of transactions required B) is a wholesaler-not a retailer C) is someone who specializes in trade rather than production D) tends to make the exchange process more difficult and costly E) None of these answers is correct.

C

24) Of the following, which are the most receptive to new products and new brands? 24) ______ A) Older people with no children B) Families with small children C) Younger people with no children D) Families with teenagers E) Families whose children are grown

C

24) The Consumer Product Safety Commission is responsible for: 24) ______ A) preventing the distribution and sale of adulterated or misbranded foods, drugs, and cosmetics. B) developing and enforcing environmental protection standards. C) developing and enforcing safety standards for bicycles. D) None of these is correct.

C

24) The ________ bans "unfair or deceptive acts in commerce." 24) ______ A) Trade Name Amendment B) Excessive Punishment Act C) Wheeler-Lea Amendment D) Excessive Bail Act E) Emblems Act

C

40) Gross national income (GNI) is the: 40) ______ A) manufacturers' selling price of goods (but not services) produced in a year. B) total market value of goods and services consumed in a year. C) total market value of goods (but not services) produced in an economy in a year. D) total market value of goods and services provided in an economy in a year by residents of that country. E) None of these definitions of GNI is correct.

D

40) ______________ are capital items that cost less and are shorter-lived than installations. 40) ______ A) Staples B) Supplies C) Component parts D) Accessory equipment E) Component materials

D

41) A useful tool for organizing the competitor analysis is: 41) ______ A) the oligopoly chart. B) the competitive summary. C) the table of competitive rivals. D) a competitor matrix. E) rivals chart.

D

41) The Federal Fair Packaging and Labeling Act: 41) ______ A) requires that consumer goods be clearly labeled in understandable terms. B) was created due to consumer criticism of packaging and labeling. C) calls on government agencies and industry to try to reduce the number of packaging sizes. D) all of these alternatives are correct.

D

42) When a firm develops a marketing mix for teenage boys which is different from its marketing mix for teenage girls, which target market approach is it using? 42) ______ A) Single B) Generic C) Clustering D) Multiple E) Combined

D

24) What is the objective of competitive advertising? 24) ______ A) It is used to present the company in a favorable light, perhaps to overcome image problems. B) It may be useful when the product has achieved brand preference or insistence. C) It tries to develop selective demand for a specific brand. D) It tries to keep the product's name before the public. E) It tries to develop primary demand for a product category rather than demand for a specific brand.

C

43) A producer using normal promotion efforts-personal selling, sales promotion, and advertising-to help sell a whole marketing mix to possible channel members has 43) ______ A) a target marketing policy. B) a pulling policy. C) a selective distribution policy. D) a pushing policy. E) an intensive distribution policy.

D

45) Personal selling lets the salesperson adapt the firm's marketing mix to a specific customer. This is an aspect of which marketing mix variable? 45) ______ A) Product B) Price C) Place D) Promotion

D

46) "Nationalism" is an issue in the ________ environment. 46) ______ A) economic B) cultural C) competitive D) political E) technological

D

46) "Promotion" is NOT concerned with: 46) ______ A) creating billboard ads. B) personal selling. C) publicity. D) designing new products. E) television commercials.

D

46) Focusing a company's advertising on its name and prestige is called ______________ advertising. 46) ______ A) reminder B) competitive C) pioneering D) institutional E) primary

D

47) The total stream of purchases that a single customer could contribute to a company over the length of the relationship is called customer ____. 47) ______ A) service B) equity C) feedback D) lifetime value E) satisfaction

D

47) Wholesalers spend the largest share of their promotion money on ______. 47) ______ A) direct-mail advertising B) publicity C) sales promotion D) personal selling E) advertising

D

49) Compared to U.S. averages, the median age of Hispanic Americans is ______. 49) ______ A) slightly higher B) much higher C) about the same D) much lower

D

5) The objectives that are expected to shape the direction and operation of the whole business are known as ________ objectives. 5) _______ A) collective B) personal selling C) R&D D) company E) price

D

9) "Discrepancies of quantity" means: 9) _______ A) some consumers buy more products than others. B) there are more consumers than producers. C) that demand is greater than what a company can supply. D) the difference between the quantity of products it is economical for an individual producer to make and the quantity normally wanted by individual consumers or users. E) some manufacturers can produce more products than others.

D

9) Advertising which tries to develop selective demand for a specific brand rather than a product category is called ______________ advertising. 9) _______ A) direct pioneering B) primary C) indirect reminder D) competitive E) institutional

D

9) Product-market screening criteria should be: 9) _______ A) qualitative. B) realistic and achievable. C) quantitative. D) all of these are correct.

D

9) Psychographics may also be called ______. 9) _______ A) social group dynamics B) opinion insight C) personality analytics D) lifestyle analysis E) attitude measures

D

95) Josh Adams runs a large cattle farm in Texas. In order to take advantage of higher prices for beef in Europe compared to the United States, he has started selling cattle overseas by using an agent wholesaler who specializes in finding European customers for U.S. firms. He ships the cattle to Europe by water transport. Josh is involved in: 95) ______ A) joint venturing. B) licensing. C) management contracting. D) exporting. E) franchising.

D

99) Distribution agreements which limit sales by customer or territory: 99) ______ A) are definitely illegal if they are vertical agreements between producers and intermediaries. B) may be legal if they are horizontal agreements between producers and intermediaries. C) are always illegal. D) are definitely illegal if they are horizontal agreements among competing producers or intermediaries, but may be legal if they are vertical agreements. E) None of these alternatives is correct.

D

¬¬¬ 3) To help producers manage discrepancies between what gets produced and what customers need, channel specialists perform ________ activities, such as accumulating, bulk-breaking, sorting, and assorting. 3) _______ A) direct marketing B) channel C) selective distribution D) regrouping E) promotion

D

25) In the context of the legal obligation of sellers to pay damages to individuals, product liability settlements ______. 25) ______ A) may exceed a company's insurance coverage but not its total assets B) never exceed three-fourths of a company's insurance coverage C) may exceed not only a company's insurance coverage but its total assets D) never exceed a company's insurance coverage or its total assets E) are always too small to make a difference to the company's total assets

C

25) People spend an average of ________ minutes daily on Facebook. 25) ______ A) 55 B) 10 C) 40 D) 70 E) 90

C

26) The source of buying information trusted by 57 percentage of consumers is ________. 26) ______ A) online banner ads B) online consumer opinions C) billboards and other outdoor advertising D) TV program product placements E) brand sponsorships

C

32) Which if the following describes a product-market most accurately? 32) ______ A) Exchanges are based on barter rather than money. B) One seller has a patent for a superior product and other firms try to imitate the leader the best they can. C) A market in which no intermediaries operate. D) All of the customers want the same product but will consider a substitute if their preferred brand is not available. E) Competing sellers offer physically or conceptually similar products.

E

33) The best way to reach EARLY adopters is through 33) ______ A) innovators. B) the mass media. C) impersonal and scientific information media. D) opinion leaders. E) salespeople and mass media.

E

33) The median family income in the U.S. in 2013 was a little over $______. 33) ______ A) 30,000 B) 75,000 C) 40,000 D) 100,000 E) 50,000

E

33) The unpaid form of nonpersonal presentation of ideas, goods, or services is called ________. 33) ______ A) personal selling B) profit C) customization D) productivity E) publicity

E

33) Which of the following types of firms are collaborators? 33) ______ A) Advertising agencies B) Overnight delivery firms C) Product-testing labs D) Marketing research firms E) All of these are collaborators.

E

33) ________ means trying to increase sales of a firm's present products in its present markets. 33) ______ A) Diversification B) Market development C) Product development D) Differentiation E) Market penetration

E

34) Which of the following promotional objectives is most likely being accomplished when a real estate agent sends her customers a yearly calendar containing the agent's business logo? 34) ______ A) Persuading B) Rebutting C) Informing D) Planning E) Reminding

E

35) The PSSP four-level hierarchy of needs includes ______. 35) ______ A) physiological needs, psychological needs, safety needs, and personal needs B) psychological needs, financial needs, social needs, and personal needs C) physiological needs, psychological needs, social needs, and financial needs D) psychological needs, safety needs, social needs, and personal needs E) physiological needs, safety needs, personal needs, and social needs

E

35) The scientific way in which an economy's resources are converted to output is part of the ________ environment. 35) ______ A) competitive B) social C) economic D) political E) technological

E

36) What does the term "copy thrust" refer to? 36) ______ A) It refers to how much the audience believes what the advertiser says. B) It refers to an FTC challenge to the claims made by an advertiser. C) It refers to all the advertising copy prepared for a particular brand. D) It refers to competitors who make similar claims in their ads. E) It refers to what is to be communicated by the words and illustrations.

E

37) An authoritative report or guide that addresses important issues in an industry and offers solutions is ________. 37) ______ A) blog B) landing page C) case study D) webinar E) white paper

E

37) The early majority group 37) ______ A) prefers to do things the way they have been done in the past and are very suspicious of new ideas. B) tends to cling to the status quo and think it's the safe way. C) can help the promotion effort by spreading word-of-mouth information and advice among other consumers. D) tends to have the greatest contact with salespeople. E) tends to avoid risk and waits to consider a new idea after many early adopters have tried it-and liked it.

E

38) "Noise" (in the traditional communication process) refers to 38) ______ A) messages which are too loud or bold. B) radio advertising interference only. C) the encoded message before it is decoded. D) efforts by a firm's competitors to block its message channel. E) any distractions that reduce the effectiveness of the communication process.

E

38) A group of customers joined around a particular brand or common set of shared interests is called ________. 38) ______ A) web group B) paid media C) local community D) case group E) brand community

E

38) Dissonance is a ______. 38) ______ A) kind of belief B) conflict between opinion leaders C) form of social influence D) confirmation in the learning process E) tension caused by uncertainty about the rightness of a decision

E

38) Exchanges between producers and consumers are more difficult in an advanced economy because of ______. 38) ______ A) spatial separation B) separation in time C) separation in values D) separation of information E) All of these are correct.

E

39) A product which becomes part of a buyer's final product and comes finished and ready for assembly is called: 39) ______ A) an installation. B) a raw material. C) accessory equipment. D) a component material. E) a component part.

E

39) Identify the digital advertising that works best for brand building and whose effectiveness can be measured by using good tracking tools. 39) ______ A) Search advertising B) Directories and classifieds C) Social network advertising D) Mobile advertising E) Banner ads

E

39) Which of the following is a function that an intermediary is likely to provide for customers? 39) ______ A) provide delivery B) reduce inventory costs C) regroup products D) grant credit E) All of these are functions provided for customers.

E

4) "Place" is NOT concerned with: 4) _______ A) kinds of intermediaries needed to reach customers. B) channels of distribution. C) when and where products are wanted. D) who handles storing and transporting. E) telling the target market what products are available-and where.

E

4) Multichannel distribution: 4) _______ A) is becoming more common. B) may involve using both direct and indirect channels simultaneously. C) may create channel conflict. D) may offer producers a way to reach customers they would not be able to reach with a single channel. E) All of these alternatives are correct.

E

40) How customers think about the various brands in a market can be graphically represented and tracked through ______. 40) ______ A) targeting B) segmenting C) researching D) clustering E) positioning

E

40) Which act prohibits price discrimination unless it is based on cost differences or the need to meet competition? 40) ______ A) Wheeler-Lea Act B) Sherman Act C) Federal Trade Commission Act D) Magnuson-Moss Act E) Robinson-Patman Act

E

41) "Good" market segments are those which are: 41) ______ A) heterogeneous between. B) operational. C) homogeneous within. D) substantial. E) All of these choices are correct.

E

41) Producers often have to use "multichannel distribution": 41) ______ A) because big retail chains want to deal directly with producers. B) because present channel members are doing a poor job. C) because competitors use a variety of channels. D) because they want to sell both direct with a website and indirectly through intermediaries. E) All of these are valid reasons for producers to use multichannel distribution.

E

41) Which of the following is not an example of price? 41) ______ A) apartment rent B) college tuition C) interest on a loan D) doctor's fee E) All of these are examples of price.

E

41) Which of the following is one of the three basic ideas in the "marketing concept?" 41) ______ A) Obtain economies of scale B) Maximize sales C) Resource efficiency D) The president having a marketing background E) Customer satisfaction

E

41) ________ is the total stream of purchases that a customer could contribute to the company over the life of the relationship. 41) ______ A) Customer equity B) Net worth C) Profit D) A premium price E) Customer lifetime value

E

42) The buying function of marketing involves ______. 42) ______ A) the use of personal selling B) sorting products according to size C) promoting the product or service D) risk-taking and an element of chance E) looking for and evaluating goods

E

42) Which of the following advertising tries to develop goodwill or improve an organization's relations with various groups? 42) ______ A) Selective demand B) Pioneering C) Persuading D) Primary demand E) Institutional

E

43) Consumer products which customers see as basically the same and want to buy at the lowest price are called ______. 43) ______ A) comparison products B) heterogeneous shopping products C) convenience products D) unsought products E) homogeneous shopping products

E

43) The Wheeler-Lea Amendment specifically aims at ________. 43) ______ A) tying and exclusive dealing contracts B) mergers and acquisitions C) product warranties D) product safety E) unfair or deceptive practices

E

43) The amount of income a family has left after paying taxes and paying for its necessities is called its ______ income. 43) ______ A) modified B) family C) marginal D) personal E) discretionary

E

43) The most important variable in a firm's marketing mix is: 43) ______ A) Price. B) Promotion. C) Product. D) Place. E) None of these since all contribute to one whole.

E

44) Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment. 44) ______ A) competitive B) cultural C) technological D) social E) economic

E

44) Selecting the most effective advertising media depends on the: 44) ______ A) firm's promotion objectives. B) nature of the media-i.e. reach, frequency, impact and cost. C) funds available for advertising. D) firm's target market. E) All of these alternatives are correct.

E

44) Which of the following countries' governments passed a soda tax to restrict the production and sale of sugary soft drinks? 44) ______ A) India B) Germany C) Australia D) The Netherlands E) France

E

45) In a command economy, government officials decide ______. 45) ______ A) how much is to be distributed to whom B) how much is to be produced C) who is to produce and distribute what to whom D) what is to be produced E) all of these

E

45) Raw materials 45) ______ A) include both farm products and natural products. B) are treated as expense items. C) are unprocessed but eventually become part of a final physical good. D) move to the next production process with little handling. E) All of these alternatives are correct.

E

46) A channel system in which the various members informally agree to cooperate with each other is called a(n) ________ system. 46) ______ A) traditional channel B) franchising C) dual distribution D) contractual channel E) administered channel

E

46) Which of the following is a consumer market demographic dimension? 46) ______ A) Occupation B) Education C) Sex D) Age E) All of these are examples of a consumer market demographic dimension

E

46) Which of the following statements about ethnic dimensions of the U.S. market is True? 46) ______ A) Many firms make the mistake of treating all consumers in an ethnic group as homogeneous. B) Ethnic groups buy differently and have different needs. C) The number of ethnic consumers is growing at a faster rate than the overall society. D) The buying power of ethnic submarkets is increasing rapidly. E) All of these statements about ethnic dimensions are True.

E

47) A "dealer brand" is sometimes called a __________ brand. 47) ______ A) local B) regional C) national D) manufacturer E) private

E

48) Another term for a dealer brand is a(n) ______. 48) ______ A) generic brand B) franchise brand C) individual brand D) family brand E) private label brand

E

48) Selective ______ refers to processes that screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs. 48) ______ A) exposure B) retention C) learning D) attention E) perception

E

49) If Walmart purchases a manufacturing plant to produce nothing but Walmart's dealer brand of laundry detergent, Walmart is engaging in ________. 49) ______ A) A contractual channel system B) An administered channel system C) Intertype competition D) Monopoly E) Vertical integration

E

6) Personal selling 6) _______ A) Is not usually combined with other aspects of promotion in the total marketing mix. B) Is indirect spoken communication between buyers and sellers. C) Is one of the least expensive components of the communications program. D) Is indirect written communication between buyers and sellers. E) Gets immediate feedback from consumers.

E

6) The role of price in a market-directed economy is to ______. 6) _______ A) coordinate the economic activity of many people and institutions B) allocate resources and distribute income according to consumer preferences C) serve as a rough measure of the social importance of consumer goods and services D) serve as a rough measure of the value of resources used to produce goods and services E) All of these are true.

E

88) Direct ________ involves personal sales contact between a representative of the company and an individual consumer. 88) ______ A) pricing B) marketing C) servicing D) distribution E) selling

E

9) Industry sales are highest in which of the following product life cycle stages? 9) _______ A) Market introduction B) Sales decline C) Market growth D) Market development E) Market maturity

E

90) A disadvantage of direct-to-customer channels is that they 90) ______ A) make it more difficult to serve buyers who want to lease rather than buy products. B) are not suitable when the number of transactions is small or when orders are large. C) require the producer to coordinate with many retailers. D) are illegal in business and organizational markets. E) None of these is a disadvantage of direct-to-customer channels.

E

91) "Place" decisions: 91) ______ A) may focus on the selection and use of intermediaries and collaborators. B) may focus on the location of retail stores and wholesale facilities. C) can be aided by knowing about the product classes. D) are harder to change than Product, Promotion, or Price decisions. E) All of these choices are correct.

E

94) A manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts is a: 94) ______ A) Channel director. B) Channel coordinator. C) Channel troubleshooter. D) Channel ombudsman. E) Channel captain.

E

54) ________ means selling the right to use some process, trademark, patent, or other right for a fee or royalty. 54) ______ A) Exporting B) Direct investment C) licensing D) Joint venturing E) Management contracting

c

61) In a channel where retailers lead, intermediaries that gather, analyze, and interpret big data that generates insights about their customers' needs will ________. 61) ______ A) lose their power to influence pricing B) take a back seat in a producer-dominated channel system C) seek out producers who can meet those needs with products at reasonable prices D) lose their bargaining power against suppliers and customers E) stop playing the role of a channel captain

c

51) A ______ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs. 51) ______ A) generic market B) product-market C) standard market D) global market E) target market

B

51) The best way to reach INNOVATORS is through 51) ______ A) the mass media. B) impersonal and scientific information sources. C) salespeople and the mass media. D) local opinion leaders. E) salespeople.

B

52) If a consumer product is used regularly and usually bought frequently and routinely with little thought (although branding may be important), this product is ______. 52) ______ A) a casual product B) a staple product C) a routine product D) a specialty product E) a homogeneous shopping product

B

52) In a ______ the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy. 52) ______ A) controlled economy B) market-directed economy C) production-oriented economy D) mixed economy E) command economy

B

54) ______________ means target customers will generally choose a particular brand over other brands-perhaps out of habit or past experience. 54) ______ A) Brand insistence B) Brand preference C) Brand recognition D) Brand nonrecognition E) Brand rejection

B

57) Which of the following offers a firm the greatest potential for profit? 57) ______ A) The single target market approach B) Any of these-depending on the situation C) Mass marketing D) The combined target market approach E) The multiple target market approach

B

58) Firms that specialize in providing marketing functions other than buying or selling are known as ______. 58) ______ A) agents B) collaborators C) suppliers D) intermediaries E) consultants

B

58) Saying that a good market segment should be "heterogeneous between" means that the consumers in ______. 58) ______ A) a market segment should be as different as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions B) different segments should be as different as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions C) different segments should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions D) a market segment should be as similar as possible with respect to their likely responses to marketing mix variables and their segmenting dimensions E) the segmenting dimensions should be useful for identifying different customers and deciding on marketing mix variables

B

6) A firm's "marketing mix" decision areas would NOT include: 6) _______ A) Product. B) People. C) Price. D) Promotion. E) Place.

B

6) Use this information for question that refer to the United Tools case. Terry Harter is marketing manager for United Tools and Mike O'Reilly is the firm's logistics manager. They work together to make decisions about how to get United's hand and power tools to its customers-a mix of manufacturing plants and final consumers (who buy United tools at a hardware store). United Tools does not own its own transport facilities and it works with wholesalers to reach its business customers. Together, Harter and O'Reilly try to coordinate transporting, storing, and product handling activities to minimize cost while still achieving the customer service level their customers and intermediaries want. This usually requires that United keep an inventory of most of its products on hand, but demand for its products is fairly consistent over time so inventory is easy to manage. Harter has identified four options for physical distribution systems she could use to reach two of her key wholesalers, Ralston Supply and Ricotta Tool Co. The total cost for each option-and the distribution service levels that can be achieved-are as follows: Main feature of system Total Cost Distribution Service Level 1. Airfreight $1,000,000 95 percent 2. Inland Waterways $300,000 60 percent 3. Trucks $500,000 70 percent 4. Rail and regional warehouses $650,000 80 percent Ralston Supply expects a very high level (90 percent) of distribution customer service. Ricotta Tool Co. is willing to settle for a 70 percent customer service level, even if that means some products will occasionally be out of stock, if it gets products at a lower price. For its large retail hardware customers (like Home Depot), United regularly ships smaller orders directly to individual stores or in some cases to the retail chain's warehouses. Cross-country shipments usually go by rail while regional shipments usually go by truck. It appears that United Tools 6) _______ A) works to provide just-in-time delivery to both of its wholesalers. B) is implementing the physical distribution concept. C) uses the distribution system with the lowest transportation cost. D) needs to buy its own fleet of trucks. E) all of these alternatives are logical.

B

6) Which of the following is NOT part of a product-market definition? 6) _______ A) a description of the type of product B) information about which specific retailers will sell the product C) information about consumer needs D) information about the final customer (or user) of the product E) All of these should be included in a product-market definition

B

64) ______________ is a marketing management aid that refers to how customers think about proposed and/or present brands in a market. 64) ______ A) Market scanning B) Positioning C) Customer relationship management (CRM) D) Brand familiarity E) Market segmentation

B

66) Products that are meant for use in producing other products are ______ products. 66) ______ A) unsought B) business C) convenience D) shopping E) specialty

B

67) According to the text, product quality means that: 67) ______ A) there are no errors in the production process. B) a product satisfies a customer's requirements or needs. C) products are designed to meet demanding specifications. D) the product won't ever break. E) None of these choices is correct.

B

68) The 80/20 rule-that 80 percent of a company's sales often come from just 20 percent of its customers-is a good reason for marketers to use: 68) ______ A) multichannel distribution B) selective distribution C) international distribution D) exclusive distribution E) intensive distribution

B

69) For homogeneous shopping goods, marketers favor low-cost retailers primarily because ________. 69) ______ A) low-cost retailers provide extensive customer support B) customers focus on low prices C) customers focus on low quality D) low-cost retailers have many outlets close to customers E) customers focus on broad product assortments

B

7) If a firm's involvement in international marketing is limited to managing others' production facilities, it is using ________. 7) _______ A) direct investment B) management contracting C) exporting D) joint venturing E) licensing

B

7) In 2014, which of the following major social media platforms was most popular in the U.S. among those older than 50 years? 7) _______ A) Twitter B) Facebook C) LinkedIn D) Instagram E) Pinterest

B

70) Which of the following is one of the three basic ideas in the "marketing concept?" 70) ______ A) The president has a marketing background B) Total company effort C) Maximize sales D) Resource efficiency E) Obtain economies of scale

B

71) A ______ explains what the seller promises about its product. 71) ______ A) service mark B) warranty C) trademark D) copyright E) brand

B

72) A channel of distribution: 72) ______ A) is only needed when products are sold indirectly. B) is any series of firms or individuals who participate in the flow of goods and services from producer to consumer or final user. C) must include one or more intermediaries. D) is only needed when products must be stored. E) None of these alternatives is a good answer.

B

72) Saying that a "good" product-market segment should be substantial means that ______. 72) ______ A) the company does not have to worry about substantial competition for a long time B) it should be large enough to be profitable C) people should have substantially different reactions to marketing mix variables D) people in different market segments should be as different as possible E) the product and its offerings are substantial in nature

B

74) Yukon Sportswear, a manufacturer of textile products, bought out the wholesaler that had been handling its distribution in Canada. This is an example of: 74) ______ A) reverse distribution. B) vertical integration. C) dual distribution. D) accumulating. E) a contractual channel system.

B

75) The marketing concept is a strategic way of approaching business that contrasts sharply with ______. 75) ______ A) the marketing orientation B) the production orientation C) the triple bottom line D) the profit orientation E) macro-marketing

B

78) Intermediaries are needed MOST when the desired degree of market exposure is: 78) ______ A) administered. B) intensive. C) exclusive. D) selective. E) none of these is a good answer.

B

8) Getting reactions from customers about how well a new-product idea fits their needs is ______. 8) _______ A) target marketing B) concept testing C) product liability D) screening E) brand positioning

B

8) Which of the following is a status quo pricing objective? 8) _______ A) Maximize profits B) Meeting competition C) Growth in sales D) Satisfactory profits E) Growth in market share

B

8) Which of the following is true regarding the functioning of advertising agencies? 8) _______ A) They do not involve in planning and handling mass selling details for advertisers. B) They are independent of the advertiser and have an outside viewpoint. C) They are large organizations employing many creative people. D) They are dependent on the advertisers and reflect only their viewpoint. E) They are under contract with one client at a time.

B

8) Which of the following sales force payment methods is best for SIMPLICITY? 8) _______ A) Value plan B) Straight salary C) Salary plus bonus plan D) Combination plan E) None of these, i.e., all are equal.

B

8) ________ is direct spoken communication between sellers and potential customers. 8) _______ A) Advertising B) Personal selling C) Publicity D) Mass selling E) Sales promotion

B

81) Producers can positively manage channel conflict using all the following tactics except: 81) ______ A) serve different market segments through different channels. B) limit channel member relationships to buying and selling activity. C) identify a channel captain. D) offer different products through different channels. E) compensate participating channel members when conflict exists.

B

82) The regrouping activity which involves collecting products from many small producers so that the products can be handled more economically further along in the channel is called ________. 82) ______ A) sorting B) accumulating C) assorting D) wholesaling E) bulk-breaking

B

83) In which of the following distribution channels is the firm most likely to maintain control of the marketing mix? 83) ______ A) Horizontal B) Direct C) Layered D) Indirect E) Cooperative

B

87) In a _____ the whole channel focuses on the same target market at the end of the channel. 87) ______ A) parallel marketing system B) vertical marketing system C) linear marketing system D) diagonal marketing system E) horizontal marketing system

B

9) Sales jobs are a major part of the U.S. economy. About what percentage of employed workers in the U.S. are in some type of sales job? 9) _______ A) 2 percent B) 10 percent C) 15 percent D) 20 percent E) 5 percent

B

9) Some customers encourage the use of ________ by paying more attention to supposed price discounts than to the actual prices (and values). 9) _______ A) fix prices B) phony list prices C) fair trade prices D) unchanging list prices E) basic list prices

B

9) The "adoption curve" shows 9) _______ A) the relationship between promotion spending and sales. B) when different groups accept ideas. C) when a firm should introduce a new product. D) how quickly a firm should drop current products. E) All of these alternatives are correct.

B

92) Using the ________ approach to entering international markets gives a firm complete control of marketing strategy planning in the foreign market. 92) ______ A) exporting B) direct investment C) management contracting D) joint venture E) licensing

B

56) Which of the following is NOT a major step in the learning process? 56) ______ A) Cues B) Response C) Dissonance D) Reinforcement E) Drive

C

57) "Product" means: 57) ______ A) a physical good with all its related services. B) a well-packaged item with a well-advertised brand name. C) the need-satisfying offering of a firm. D) all the services needed with a physical good. E) all of a firm's producing and distribution activities.

C

58) Supplies can be divided into which of the following three types? 58) ______ A) Accessory equipment, raw materials, and component parts B) Homogenous, heterogeneous, and specialty C) Maintenance, Repair, and Operating D) Staples, impulse, and emergency

C

59) In the adoption process, an individual moves through six definite steps; they are ______. 59) ______ A) awareness, interest, involvement, trial, decision, and confirmation B) evaluation, interest, awareness, trial, decision, and confirmation C) awareness, interest, evaluation, trial, decision, and confirmation D) evaluation, interest, involvement, trial, decision, and confirmation E) involvement, interest, evaluation, trial, decision, and confirmation

C

59) Product line length indicates: the ______. 59) ______ A) the number of product lines that the company has to offer its customers. B) total number of products that the company has to offer its customers C) the number of individual offerings in a product line. D) the total customer lifetime value associated with the offerings in a product line. E) the number of intermediaries involved in the distribution of all the offerings in a product line.

C

59) Segmenting in international markets can be more challenging than segmenting in domestic markets because ______. 59) ______ A) profit is the balancing point that determines the marketing mix. the markets are homogenous in between and heterogeneous within B) there is often more data available about key segmenting dimensions C) critical data is often less available and less dependable D) there is less diversity in the key segmenting dimensions

C

6) A customized web page that logically follows from clicking on an organic search result, online advertisement, or other link is called a ________. 6) _______ A) leading page B) case study C) landing page D) white paper E) blog

C

60) "Too much" aggregating in market segmenting ______. 60) ______ A) always tends to make the segments heterogeneous B) usually makes segments more homogeneous C) leaves the firm vulnerable to competitors D) ignores the criterion that product-market segments should be substantial E) is usually not a very serious error because it results in economies of scale

C

62) A consumer product that a customer really wants-and is willing to make a special shopping effort to find-is ______. 62) ______ A) a convenience product B) a heterogeneous shopping product C) a specialty product D) an emergency product E) a staple product

C

63) Which of the following statements does not accurately characterize place decisions? 63) ______ A) Place decisions must analyze when customers will want or need products. B) Place decisions involve stocking the right quantities of products. C) Place decisions are easier to change compared to price, promotion, and product decisions. D) Place decisions involve identifying appropriate locations for products. E) Place decisions typically involve channel partners.

C

63) ______ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes. 63) ______ A) Market positioning B) Mass marketing C) Market segmentation D) Implementation E) Strategic planning

C

100) In _____ channel systems, the channel members agree by contract to cooperate with each other. 100) _____ A) administered B) selective C) traditional D) contractual E) corporate

D

102) Direct _____ involves personal sales contact between a representative of the company and an individual consumer. 102) _____ A) servicing B) marketing C) pricing D) selling E) distribution

D

11) According to the text, a new product is one that is ______. 11) ______ A) unique B) physically changed C) completely new physically and conceptually D) new in any way for the company concerned E) None of these is a good answer.

D

12) In the United States, ________ percent of the population used Facebook in 2014. 12) ______ A) 68 B) 82 C) 75 D) 58 E) 35

D

12) The firms that are considered to be the organization's closest challengers are called ________ rivals. 12) ______ A) passive B) aggressive C) indirect D) competitive E) formal

D

12) _____ is communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior. 12) ______ A) Product B) Place C) Price D) Promotion E) Process

D

13) The complete set of firms, facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products, and distributing them to customers is called the ________. 13) ______ A) logistics partnership B) physical distribution group C) Strategic logistics partnership D) supply chain E) just-in time team

D

3) Strategy planning for Price is concerned with 3) _______ A) how flexible prices will be. B) how transportation costs will be handled. C) at what level prices will be set over the product life cycle. D) to whom and when discounts and allowances will be given. E) All of these alternatives are correct.

E

3) Psychographics or life-style analysis analyzes an individual's ______. 3) _______ A) interests B) demographics C) opinions D) activities E) All of these alternatives are correct.

E

30) "Good" market segments are those that are ______. 30) ______ A) heterogeneous within B) homogeneous between C) international in nature D) substantial all the time E) operational and substantial

E

1) A product assortment is: 1) _______ A) the set of all product lines and individual products that a firm sells. B) something offered by manufacturers but not by retailers. C) a particular product within a product line. D) a set of products that are closely related. E) None of these alternatives is correct.

A

10) The traditional communication process does NOT include 10) ______ A) response. B) source. C) receiver. D) feedback. E) encoding.

A

10) To what does the term inventory refer? 10) ______ A) It refers to the amount of goods being stored. B) It refers to minimizing storage costs. C) It refers to the quality of goods being stored. D) It refers to the amount of goods being sold. E) It refers to the marketing function of holding goods.

A

10) Which of the following digital advertising does not work for brand building and is considered unsuitable for large firms? 10) ______ A) Directories and classifieds B) Social network advertising C) Banner ads D) Search advertising E) Mobile advertising

A

103) From a producer's viewpoint, which of the following is an advantage of intensive distribution over selective distribution? 103) _____ A) Intermediaries' facilities will be more convenient for customers. B) Intermediaries can be required to carry larger stocks. C) Better service can be required from intermediaries. D) More aggressive selling can be expected from intermediaries. E) Intermediaries' price-cutting may be reduced

A

103) From a producer's viewpoint, which of the following is an advantage of intensive distribution over selective distribution? 103) _____ A) Intermediaries' facilities will be more convenient for customers. B) Intermediaries can be required to carry larger stocks. C) Better service can be required from intermediaries. D) More aggressive selling can be expected from intermediaries. E) Intermediaries' price-cutting may be reduced.

A

11) Which era of marketing is characterized by families who sold their surpluses to local distributors? 11) ______ A) The simple trade era B) The marketing department era C) The marketing company era D) The production era E) The sales era

A

12) Which of the following is NOT one of the basic sales tasks? 12) ______ A) Sales-promoting B) Supporting C) Order-taking D) Order-getting E) None of these, i.e. all are basic sales tasks

A

13) Channel systems in which the various channel members make little or no effort to cooperate with each other are called ______________ systems. 13) ______ A) traditional channel B) administered channel C) franchising D) direct-to-customer channel E) vertically integrated

A

14) Empty nesters ______. 14) ______ A) are people whose children are grown B) disrupt the family life-cycle pattern C) are usually in the 30 to 44 age group D) spend a larger percent of their income on child care E) are not an attractive market for any items

A

15) _________ are countries that limit the use of cartoon characters in advertising to children. 15) ______ A) France and Japan B) USA and New Zealand C) Japan and USA D) Switzerland and USA E) New Zealand and France

A

16) For an order-getter, which of the following steps in the personal selling process usually occurs first? 16) ______ A) Select target customer B) Follow up after purchase C) Preplan sales call D) Close sale E) Make sales presentation

A

17) A salesperson who seeks possible buyers with a well-organized sales presentation designed to get new business is________. 17) ______ A) an order getter B) a technical specialist C) a missionary salesperson D) an order taker E) a supporting salesperson

A

75) Tom and Sally Jones are preparing to purchase a new car. He currently has a Toyota Camry and she has a Honda Accord. They now have two children under age 5, so they plan to trade in Sally's car to purchase a minivan. Sally and Tom decided on a Honda Odyssey because Sally is familiar with Hondas and thinks they are very reliable. In this purchase situation, Tom and Sally's family life cycle stage is a _____________ segmenting dimension, and the benefit Sally seeks (reliability) is a _____________ segmenting dimension. 75) ______ A) demographic; behavioral B) geographic; behavioral C) geographic; demographic D) demographic; geographic E) behavioral; demographic

A

75) When Fresh Produce Wholesaler Inc. buys fruits and vegetables from a variety of different farmers, and then takes large bushels and breaks them into smaller package sizes, Fresh Produce is addressing ________. 75) ______ A) discrepancies of quantity B) discrepancies of need C) discrepancies of assortment D) discrepancies of time E) discrepancies of place

A

76) A "product" is best described as ______. 76) ______ A) a need-satisfying offering of a firm B) an intangible service C) the attractiveness of a package D) a purely physical entity E) an image in the mind of the consumer

A

76) Which of the following favors low-cost retailers? 76) ______ A) Homogeneous shopping goods B) Household shopping goods C) Specialty shopping goods D) Heterogeneous shopping goods E) Physical shopping goods

A

8) Which of the following is an element of the direct market environment? 8) _______ A) Competitors B) Demographic trends C) Economic environment D) Cultural environment E) Technological environment

A

85) The regrouping activity which involves collecting products from many small producers so that the products can be handled more economically further along in the channel is called: 85) ______ A) accumulating. B) sorting. C) assorting. D) bulk-breaking. E) wholesaling.

A

9) The standardization and grading function of marketing involves ______. 9) _______ A) sorting products according to size and quality B) looking for and evaluating goods and services C) providing necessary cash and credit D) promoting the product E) None of these answers is correct.

A

93) Strategy "Place" decisions would NOT include: 93) ______ A) how to train wholesalers' salespeople. B) type of physical distribution facilities. C) degree of market exposure desired. D) distribution customer service level. E) type of channel of distribution.

A

96) Small farmers in the mountains of Peru pick coffee beans by hand, obtaining only a bucket a day. Then they sell them to buyers who put the beans in large bags to be shipped to processors. This regrouping activity is called: 96) ______ A) Accumulating B) Sorting C) Assorting D) Wholesaling E) Bulk-breaking

A

97) Dividing large quantities into smaller quantities as products get closer to the final market is called ________. 97) ______ A) bulk-breaking B) sorting C) dividing D) assorting E) accumulating

A

22) The owners of all the Chrysler auto dealerships in a large metropolitan area have an informal meeting during a golf outing. During the meeting, they agree to limit their orders of a new model of automobile that has received excellent reviews from the trade press for its styling and handling characteristics. Restricting orders will permit the dealers to sell these models at a price that will be at or above the manufacturer's suggested retail price for the vehicle. As a result, the dealers will make more profit on each vehicle sold due to the high demand for the new model. This type of agreement would be viewed by the courts as: 22) ______ A) An exclusive distribution arrangement that is legal. B) Horizontal collusion that is illegal. C) Horizontal collusion that is legal. D) Vertical collusion that is legal. E) Vertical collusion that is illegal.

B

23) "Price fixing" means ________. 23) ______ A) selling products of like grade and quality to different buyers at different prices B) competitors getting together to raise, lower, or stabilize prices C) changing a price that was set at the wrong level by the financial manager D) a firm consciously setting its prices E) pricing a product that will be sold in a foreign market at a level below the cost of production

B

23) Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach. 23) ______ A) multiple B) combined C) blended D) particular E) compound

B

23) When a firm considers the key words used by target customers in search and designs a website so that it ranks high in a search engine's unpaid results, it is called ________. 23) ______ A) process regularization B) search engine optimization C) search engine query D) online search regularization E) product optimization

B

24) Short-run decisions to help implement strategies are best known as ________. 24) ______ A) actionable items B) operational decisions C) strategic decisions D) dependencies E) marketing plans

B

25) An "all the traffic will bear" pricing objective is called ________ objective. 25) ______ A) target return B) profit maximization C) nonprice competition D) meeting competition E) growth in market share

B

26) Amazon.com and eBay.com are both considered Internet-based ______. 26) ______ A) service providers B) intermediaries C) collaborators D) manufacturers E) producers

B

26) The ________ area of the marketing mix includes decisions related to telling the target market or others in the channel of distribution about the "right" product. 26) ______ A) communication B) promotion C) price D) Product E) place

B

26) To minimize its own risks, the Boomtown Petroleum Corp. of Houston, Texas, operates a South American oil refinery that is owned by residents of that country. Boomtown is engaged in an activity known as: 26) ______ A) exporting. B) management contracting. C) licensing. D) direct investment. E) a joint venture.

B

26) What happens during the sales decline stage? 26) ______ A) Promotion emphasis shifts from stimulating selective demand to building primary demand. B) The total amount spent on promotion usually decreases as firms try to cut costs to remain profitable. C) Firms do not need targeted promotion to reach customers. D) Sales promotion is primarily targeted at intermediaries to get them interested in selling the product. E) Personal selling will probably dominate the promotion blends of consumer products firms.

B

27) In the United States, which of the following has the power to control unfair or deceptive business practices, including deceptive advertising? 27) ______ A) FDA B) FTC C) OSHA D) CPSC E) USDA

B

27) The competitive environment that most marketing managers experience in developed economies is: 27) ______ A) monopoly. B) monopolistic competition. C) regulated competition. D) oligopoly. E) pure competition.

B

28) A company where the marketing people do both short-run and long-range planning is operating in the ______ era. 28) ______ A) simple trade B) marketing company C) sales D) production E) marketing department

B

28) Consumers remembering only what they want to remember is called ______. 28) ______ A) conscious response B) selective retention C) cognitive learning D) selective exposure E) selective perception

B

28) Direct marketing communication designed to prompt immediate feedback by customers is also called 28) ______ A) interactive communication. B) direct-response promotion. C) online marketing. D) direct mail advertising. E) downward communication.

B

28) When an advertiser pays a fixed amount (e.g. 70 cents) each time a Web surfer clicks on the advertiser's ad and links to the advertiser's website, this process is called a(n): 28) ______ A) pioneering ad. B) pay-per-click. C) copy thrust. D) advertising allowance. E) pay-per-view.

B

29) A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a: ______. 29) ______ A) Clustering management system. B) Customer relationship management system. C) Diversification management system. D) Product differentiation matrix. E) Product positioning matrix.

B

29) A trade discount is also called a ________. 29) ______ A) cumulative quantity discount B) functional discount C) stock discount D) seasonal discount E) noncumulative quantity discount

B

29) When using screening criteria to evaluate opportunities: 29) ______ A) The firm's weaknesses should be ignored. B) Marketers must try to match opportunities to the firm's resources and objectives. C) Quantitative but not qualitative criteria should be considered. D) Opportunities that are not expected to be profitable after one year of implementation should always be dropped. E) All of these are correct.

B

3) A ________ is the salesperson's request for an order. 3) _______ A) prospect B) close C) proposal D) job description E) sales quota

B

3) Print ads must be identified so they are not confused with editorial matter in ________. 3) _______ A) New Zealand B) the United States C) Switzerland D) Canada E) Japan

B

3) Which of the following refers to a fairly homogeneous (similar) group of customers to whom a company wishes to appeal? 3) _______ A) Typical market B) Target market C) Trial market D) Related market E) Mix market

B

4) Which of the following is true of owned media? 4) _______ A) It refers to promotional messages generated by a brand and communicated through a message channel the brand pays to access. B) It refers to promotional messages generated by a brand and communicated through a message channel the brand directly controls. C) It refers to promotional messages not directly generated by the company or brand. D) It includes television or radio news stories by independent journalists. E) It includes online customer reviews and Facebook posts by customers about a brand.

B

40) Damage control is important for marketers because ______. 40) ______ A) consumers are more likely to share stories about being satisfied than dissatisfied B) many consumers share opinions about their good and bad experiences with a product or service C) car wrecks can be caused by shopping while driving D) the Internet limits the rights of people to share their opinions about a product or service with a large audience E) recommendations from friends and family have no effect on consumers' purchase choices

B

40) The vertical marketing system in which control is maintained via informal cooperation among the channel members is a(n): 40) ______ A) Channel captain system. B) Administered channel system. C) Franchise channel system. D) Corporate channel system. E) Contractual channel system.

B

40) Which of the following promotional objectives is most likely being accomplished when a window company compares its windows to those of a competitor to show homebuilders why its products are superior? 40) ______ A) Reminding B) Persuading C) Informing D) Planning E) Rebutting

B

42) ______ means potential customers won't buy a brand-unless its current image is changed. 42) ______ A) Brand recognition B) Brand rejection C) Brand preference D) Brand nonrecognition E) Brand insistence

B

43) Traditional channel systems: 43) ______ A) Have channel members that look out for each other's best interest. B) Exhibit little cooperation between channel members. C) Have members that go to great lengths to cooperate with each other. D) Are characterized by strong ties between channel members. E) Usually feature a strong product-market commitment that is shared by all of the members of the channel

B

44) Installations: 44) ______ A) are always custom-made. B) are important long-lived capital items. C) are purchased often. D) are very large expense items for buyers as soon as they buy. E) seldom involve multiple-buying influence.

B

45) A firm may use all of the following methods for beating the competition except: 45) ______ A) apply for patents. B) seek a monopoly. C) develop a sustainable competitive advantage. D) utilize advanced technology. E) conduct a competitor analysis.

B

45) In "traditional channel systems," the channel members: 45) ______ A) consider traditional values-like cooperation and respect-as central to their relationship. B) make little or no effort to cooperate with each other. C) are integrated. D) have franchise contracts. E) usually have a common product-market commitment.

B

45) The source deciding what it wants to say and translating it into words or symbols that will have the same meaning to the receiver is termed as 45) ______ A) transmutation. B) encoding. C) exposition. D) recoding. E) decoding.

B

48) "Product" is NOT concerned with: 48) ______ A) packaging. B) wholesale price. C) quality level. D) warranty. E) branding.

B

48) In the short run, a marketing manager usually cannot control: 48) ______ A) the economic environment. B) Any of these environments are uncontrollable in the short run. C) the cultural environment. D) the competitive environment. E) the legal environment.

B

49) Which of the following types of advertising is most associated with the confirmation stage of the adoption process? 49) ______ A) Persuasive copy B) Reminder ads C) Competitive ads D) Search ads E) Teaser campaigns

B

5) Discretionary income is a family's ______. 5) _______ A) income AFTER taxes B) income AFTER paying taxes and paying for necessities C) income spent on durable goods D) total purchasing power

B

5) Most sales presentations follow the AIDA sequence which stands for ________. 5) _______ A) Attention, Interest, Develop, Appeal B) Attention, Interest, Desire, Action C) Attention, Involvement, Desire, Appeal D) Attention, Interaction, Development, Action E) Attention, Involvement, Desire, Action

B

5) Use this information for question that refer to the United Tools case. Terry Harter is marketing manager for United Tools and Mike O'Reilly is the firm's logistics manager. They work together to make decisions about how to get United's hand and power tools to its customers-a mix of manufacturing plants and final consumers (who buy United tools at a hardware store). United Tools does not own its own transport facilities and it works with wholesalers to reach its business customers. Together, Harter and O'Reilly try to coordinate transporting, storing, and product handling activities to minimize cost while still achieving the customer service level their customers and intermediaries want. This usually requires that United keep an inventory of most of its products on hand, but demand for its products is fairly consistent over time so inventory is easy to manage. Harter has identified four options for physical distribution systems she could use to reach two of her key wholesalers, Ralston Supply and Ricotta Tool Co. The total cost for each option-and the distribution service levels that can be achieved-are as follows: Main feature of system Total Cost Distribution Service Level 1. Airfreight $1,000,000 95 percent 2. Inland Waterways $300,000 60 percent 3. Trucks $500,000 70 percent 4. Rail and regional warehouses $650,000 80 percent Ralston Supply expects a very high level (90 percent) of distribution customer service. Ricotta Tool Co. is willing to settle for a 70 percent customer service level, even if that means some products will occasionally be out of stock, if it gets products at a lower price. For its large retail hardware customers (like Home Depot), United regularly ships smaller orders directly to individual stores or in some cases to the retail chain's warehouses. Cross-country shipments usually go by rail while regional shipments usually go by truck. United's shipments to international markets often rely on containerization. The likely reason for this is that 5) _______ A) containerization allows a firm to carry less inventory. B) it makes it easier to move shipments between different transportation modes. C) the tools are shipped by airfreight. D) containerization is very useful for small, frequent shipments. E) all of these are benefits of containerization.

B

50) Relative to other promotion methods, _____ can usually be implemented quickly and get results sooner. 50) ______ A) personal selling B) sales promotion C) mass selling D) advertising E) publicity

B

50) The greatest growth in the world's population over the next several years will come from: 50) ______ A) Eastern Europe. B) Africa. C) Australia. D) Russia and nations of the former Soviet bloc. E) Western Europe.

B

13) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the 13) ______ A) single target market approach. B) mass marketing approach. C) combined target market approach. D) multiple target market approach. E) None of these is a good choice for Quality Ceramic.

C

13) The stage of the product life cycle characterized by informative promotion but little customer awareness of a product is ______. 13) ______ A) market maturity B) sales decline C) market introduction D) market extinction E) market growth

C

13) The web and social media ______. 13) ______ A) have little impact on consumer decision making B) are unlikely to affect consumer awareness of wants and needs C) expose consumers to many goods and services D) are drastically replacing opinion leaders E) lead to poor buying decisions

C

14) A manufacturer that transports products to retail outlets directly instead of using a distribution center is most likely to encounter which of the following? 14) ______ A) Slower delivery speed at equivalent cost B) Slower delivery speed at lower cost C) Faster delivery speed at higher cost D) Equivalent delivery speed at lower cost E) Faster delivery speed at equivalent cost

C

14) A(n) ________ involves making small payments for a product over time—usually with interest payments built in. 14) ______ A) rebate B) stocking allowance C) installment D) quantity discount E) investment

C

14) Good salespeople ________. 14) ______ A) are not expected to be marketing managers in their own territories B) help customers avoid buying C) help customers buy D) are not part of the marketing information function for the firm E) are never the only link between the firm and its customers

C

14) Which of the following is true of the economic environment? 14) ______ A) It has no relationship to the technological environment. B) It refers to micro-economic factors that do not affect business spending. C) It can change very rapidly. D) It is not affected by the way all of the parts of the macro-marketing system interact. E) It never requires marketing managers to make immediate changes in strategy.

C

15) A manufacturer prefers to produce and ship in large quantities to take advantage of economies of scale. Final consumers often want to purchase in small quantities. This difference between the producer and consumer is a: 15) ______ A) Marketing discrepancy. B) Discrepancy of assortment. C) Discrepancy of quantity. D) Discrepancy adjustment. E) Regrouping activity.

C

15) Marketing ______. 15) ______ A) begins with the production process B) tries to make the whole economic system fair and effective C) tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them D) involves persuading customers to buy your product E) is a social process involving all producers, intermediaries, and consumers

C

15) Speeding the flow of products and avoiding unnecessary storing costs is the primary function of a ________. 15) ______ A) private warehouse B) commodity warehouse C) distribution center D) merchant wholesaler E) public warehouse

C

16) In a market-directed economy, ______. 16) ______ A) all the important economic decisions are made by voters in political elections B) marketing managers make all the important economic decisions C) the individual decisions of the many producers and consumers make the macro-level decisions for the whole economy D) government planners make all the important economic decisions E) consumers make all the important economic decisions

C

16) The AIDA model consists of four promotion jobs ______. 16) ______ A) becoming Aware, holding Interest, arousing Desire, and providing Assistance B) getting Attention, holding Interest, creating Demand, and obtaining Action C) getting Attention, holding Interest, arousing Desire, and obtaining Action D) getting Attention, building Intrigue, arousing Desire, and obtaining Action E) becoming Aware, holding Interest, arousing Desire, and obtaining Action

C

16) The last step in the new-product development process is ______. 16) ______ A) screening B) development C) commercialization D) idea evaluation E) idea generation

C

17) A(n) _____ is an outcome or event that a person anticipates or looks forward to. 17) ______ A) desire B) response C) expectation D) attitude E) need

C

17) Which of the following products is related to the highest advertising spending as percent of sales? 17) ______ A) Computers and office equipment B) Motor vehicles and car bodies C) Perfume and cosmetics D) Malt beverages E) Cable and other pay TV services

C

18) Institutional advertising: 18) ______ A) tries to stimulate primary demand rather than selective demand. B) is always aimed at final consumers or users. C) tries to develop goodwill for a company or even an industry. D) tries to keep a product's name before the public. E) involves no media costs.

C

18) When a supplier's computer automatically processes an online order from a customer, schedules production activities for the order, and then sets up delivery of the finished product to the customer, what approach is being used? 18) ______ A) Contractual method B) Fast-schedule method C) Electronic data interchange (EDI) D) Just-in-time (JIT) delivery systems E) Containerization technique

C

18) ______ means giving employees the authority to correct a problem without first checking with management. 18) ______ A) Benchmarking B) Responsibility adjustment C) Empowerment D) Induction E) Training

C

2) A firm's "marketing mix" decision areas would NOT include: 2) _______ A) Place. B) Product. C) Profit. D) Price. E) Promotion.

C

2) If a large furniture retailer were to purchase Drexel (a manufacturer of sofas and chairs), this would be an example of: 2) _______ A) an administered channel system. B) a tying contract. C) vertical integration. D) horizontal integration. E) internal expansion.

C

20) _____ means getting customers to ask intermediaries for the product. 20) ______ A) Branding B) Forecasting C) Pulling D) Underwriting E) Pushing

C

26) Which of the following statements about world population trends is true? 26) ______ A) The concentration of people in major cities often complicates Place and Promotion decisions. B) In general, countries that have higher stages of development experience faster rates of growth than less-developed countries. C) People are moving from rural areas into urban areas. D) The trend toward urbanization has made companies less interested in international markets. E) The extent to which a country's population is clustered around urban areas does not vary much from country to country.

C

27) Budgeting for promotion expenditures by computing a percentage of past or expected sales 27) ______ A) will increase promotional expenditures when business is poor. B) is especially suitable for new products. C) is the most common method of setting the promotion budget. D) is a complex method of budgeting. E) none of these alternatives is correct.

C

27) Consumer products which consumers do not yet want or know they can buy-and probably would not buy without special promotion even if they saw them-are called ______. 27) ______ A) heterogeneous shopping products B) homogeneous shopping products C) unsought products D) emergency products E) new brands of well-accepted staples

C

27) What is the objective of a target return strategy? 27) ______ A) A specific share of competitors' sales. B) A specific mindshare of consumers. C) A specific level of profit. D) A specific share of the market. E) A specific sales volume.

C

28) A first step in evaluating marketing opportunities is to: 28) ______ A) estimate market and sales potentials. B) hire a "futurist" as a marketing consultant. C) consider the objectives and resources of the firm. D) decide which markets the firm wishes to enter. E) find out if potential competitors are larger.

C

29) A free online photo and video sharing service geared to mobile phones is ________. 29) ______ A) Twitter B) Bing C) Instagram D) Pinterest E) LinkedIn

C

29) Coca-Cola's carbonated soft drinks are available in millions of locations worldwide. This is an example of ____________ distribution. 29) ______ A) horizontal B) exclusive C) intensive D) selective E) administered

C

29) What is the likely disadvantage of mobile advertising? 29) ______ A) It has costly bidding process for keywords. B) It leads to information overload for customers. C) It has technical limitations with bandwidth and data transfer. D) It does not fit for large companies. E) It is not useful for brand building of a product.

C

3) When assessing a firm's quality from the customer's perspective, marketing managers must take account of all instances where customers have contact with the firm and its products. These instances are called ______. 3) _______ A) connectors B) sales kiosks C) touchpoints D) intersects E) pain points

C

30) Which of the following involves using normal promotion effort to help sell the whole marketing mix to possible channel members? 30) ______ A) Controlling B) Encoding C) Pushing D) Pulling E) Decoding

C

31) A firm acquiring another firm at a different level of activity within a channel of distribution is called ________. 31) ______ A) a regrouping activity B) dual distribution C) vertical integration D) horizontal integration E) a tying contract

C

31) A flexible-price policy means offering ________. 31) ______ A) the same product and different quantities to different customers at same prices B) different products and quantities to different customers at different prices C) the same product and quantities to different customers at different prices D) different products and quantities to different customers at same prices E) the same product and quantities to different customers at same prices

C

31) Which of the following statements is not characteristic of a good? 31) ______ A) Goods can be produced and then stored to sell at some future time. B) Goods are typically mass-produced. C) Goods are typically manufactured at the location where the customer makes the purchase. D) Goods are tangible items that can be touched. E) Goods can be owned by the customer.

C

32) Which of the following is a quantitative screening criterion for evaluating opportunities? 32) ______ A) Resources the firm should build on B) Kinds of business the firm wants to exclude C) Return on investment (ROI) target for the firm D) Weaknesses the firm should avoid E) Kinds of business the firm wants to be in

C

33) Sunkist sells foreign companies the right to use the Sunkist brand on soft drinks and citrus juices sold outside the United States. Sunkist gets both an initial fee and a royalty on the sale of goods bearing its brand name. Sunkist is engaged in: 33) ______ A) management contracting. B) exporting. C) licensing. D) joint venturing. E) None of these is a good answer.

C

33) Which of the following statements about positioning is FALSE? Positioning techniques: 33) ______ A) require a firm to collect data about consumer perceptions of products. B) typically rely on a "product space" diagram to show the relationship among various products. C) position products on a graph based on price level and quantity demanded. D) are sometimes called "perceptual mapping" techniques. E) may use information about consumers' "ideal" products, so that the preferences of different segments of consumers can be considered.

C

34) A one-price policy means 34) ______ A) setting a price at the "right" level from the start and never changing it. B) selling to different customers at different prices. C) offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities. D) never using temporary sales or rebates. E) None of these alternatives is correct.

C

34) Products which have no brand other than the identification of their contents are called 34) ______ A) local brands. B) regional brands. C) generic products. D) licensed products. E) dealer brands.

C

34) Which of the following is a DEMOGRAPHIC segmenting dimension? 34) ______ A) Benefits sought B) Type of problem solving C) Family life cycle D) Rate of use E) Brand familiarity

C

36) Offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities is a ______________ policy. 36) ______ A) value pricing B) skimming pricing C) one-price D) penetration pricing E) flexible-price

C

44) Producers who consider handling the entire distribution job themselves may be especially inclined to do so because ________. 44) ______ A) intermediaries often serve customer needs better than producers and at lower cost B) direct distribution usually requires a significant investment in facilities, people, and information technology C) a channel partner (intermediary) is not available or will not cooperate D) many customers have established buying patterns that don't include buying direct from producers E) many customers have a preference for shopping at their favorite locations and won't be likely to change

C

44) What happens during the market maturity stage? 44) ______ A) The main job is to persuade customers to buy, and keep buying, the company's product. B) Business products require less aggressive personal selling. C) Mass selling and sales promotion may dominate the promotion blends of consumer products firms. D) Sales promotion may be targeted at channel members to get them interested in selling the new product. E) Mass selling becomes more economical.

C

44) When a consumer puts much effort into deciding how to satisfy a need, he engages in ______. 44) ______ A) limited problem solving B) intensive problem solving C) extensive problem solving D) routinized response behavior E) critical problem solving

C

45) "Competitive advertising" tries to: 45) ______ A) build demand for a product category. B) create goodwill for a firm. C) develop selective demand rather than primary demand. D) keep a product's name before the public. E) promote the competitive products of an industry rather than a particular firm.

C

45) A variant of the clustering approach relies on ____, where the seller adjusts the marketing effort with information from a database with customer information. 45) ______ A) data warehouse management B) social audit C) customer relationship management D) cluster sampling E) corporate governance

C

46) Communicating with customers is known as the ________________ portion of the marketing mix. 46) ______ A) Pricing B) Positioning C) Promotion D) Place E) Production

C

47) A market-oriented strategy planner applies the ______________ target market approach. 47) ______ A) multiple B) combined C) Any of these could be true. D) single

C

47) Marketing ______. 47) ______ A) concentrates on production, rather than advertising B) allows production, rather than marketing, to determine what products to make C) applies to both profit and nonprofit organizations D) emphasizes mass selling over personal selling E) none of these is a true statement about marketing

C

47) The largest and fastest growing ethnic minority group in the United States is composed of ______. 47) ______ A) Asian Americans B) African Americans C) Hispanics D) Polish Americans E) Native Americans

C

48) An economic system in which government officials determine production levels is known as ______ economy. 48) ______ A) production-oriented B) market-directed C) command D) pure subsistence E) macro-marketing

C

48) The process of marketing strategy planning is about ______. 48) ______ A) figuring out how to offer products at the lowest possible price B) choosing the most profitable market opportunity, regardless of the firm's current abilities and resources C) narrowing down possible market opportunities to the most attractive ones D) identifying as many market opportunities as can be imagined E) creating products that managers like

C

49) A market in which sellers offer various, often diverse, ways of satisfying needs is called a ______ market. 49) ______ A) relevant B) general C) generic D) product E) diverse

C

49) Which of the following is NOT one of the basic promotion objectives discussed in the text? 49) ______ A) to persuade B) to inform C) to manipulate D) to remind E) All of these are promotion objectives.

C

50) A marketing strategy specifies: 50) ______ A) a marketing mix. B) the resources needed to implement a marketing mix. C) a target market and a related marketing mix. D) a target market.

C

51) It's best to think of "breakthrough opportunities" as opportunities which ________. 51) ______ A) will take profit to the highest level B) appeal to the mass market C) help innovators develop hard-to-copy marketing mixes D) increase sales E) will quickly create a whole new industry of firms competing with similar marketing mixes

C

52) When an individual initiates the communication process by searching for information about a business, which of the following search tools is he or she most likely to use? 52) ______ A) Television advertisement B) Newspaper advertisement C) Internet D) Billboard advertisement E) Business newsletter

C

53) The difference between target marketing and mass marketing is that target marketing ________. 53) ______ A) means focusing on a small market B) aims at increased sales, while mass marketing focuses on increased profits C) focuses on specific customers, while mass marketing aims at an entire market D) does not rely on e-commerce but mass marketing does E) focuses on short-run objectives, while mass marketing focuses on long-run objectives

C

53) Your social class level does NOT depend directly on your ______. 53) ______ A) occupation B) location of housing C) income level D) type of housing E) education

C

54) Benefits of focusing on a specific target market (with the aid of marketing segmentation) include all the following except: 54) ______ A) Managers will gain a clear, shared vision for how to proceed with marketing mix decisions. B) Marketers can finetune their marketing mixes, thus providing superior value to customers. C) Managers can identify the best technology for improving production methods. D) Marketers can build a competitive advantage by effectively meeting customers' needs. E) Customers will view the firm's offerings as uniquely suited to their preferences and needs.

C

55) ______ needs are concerned with things that involve a person's interaction with others. 55) ______ A) Biological B) Physiological C) Social D) Safety E) Personal

C

56) Short-lived goods and services which are charged off as they are used-rather than depreciated over several years-are called ______. 56) ______ A) capital items B) derived items C) expense items D) nontaxable items E) durables

C

30) Customer ______ is the extent to which a firm fulfills a customer's needs, desires, and expectations. 30) ______ A) opportunity B) service C) support D) forecast E) satisfaction

E

3) Which of the following products would have the lowest transporting costs as a percentage of the selling price? 3) _______ A) Electronic equipment B) Chemicals and plastics C) Manufactured food D) Sand and gravel E) Pharmaceuticals

E

1) Accepting the "marketing concept" means that a firm should have a ______ orientation. 1) _______ A) production B) sales C) planning D) marketing E) research

D

1) The AIDA model includes all of the following promotion jobs except ______. 1) _______ A) obtaining action B) holding interest C) getting attention D) increasing demand E) arousing desire

D

10) Fashion is the currently accepted or popular ______. 10) ______ A) assortment B) fad C) trend D) style E) idea

D

10) People who help order-oriented salespeople-but don't try for orders themselves are 10) ______ A) supporting salespeople. B) missionary salespeople. C) technical specialists. D) All of these are correct.

D

17) Raymond Weil, a European manufacturer of premium watches, is trying to compete in the U.S. market with other fine watch brands. Its corporate website contains the following notice: "RAYMOND WEIL products are sold by official dealers only. The RAYMOND WEIL International Guarantee is offered exclusively to consumers in possession of a watch purchased from an official dealer...." In the United States, Raymond Weil watches are not available in every jewelry or department store. For example, in large cities such as Boston, Washington, D.C., and San Francisco, there are only three retailers in each city that are official Raymond Weil dealers. Raymond Weil seems to be using: 17) ______ A) intensive distribution. B) selective distribution. C) limited distribution. D) exclusive distribution. E) extensive distribution.

D

18) Moral standards that guide marketing decisions and actions are called ______. 18) ______ A) micro dilemmas B) civil laws C) laws D) marketing ethics E) macro dilemmas

D

18) When a customer makes a recommendation for (or against) a specific brand to another customer, it is called ________. 18) ______ A) branded service B) informative C) reminder D) pass-along E) must buy

D

18) ________ means moving into totally different lines of business, perhaps entirely unfamiliar products, markets, or even levels in the production-marketing system. 18) ______ A) Differentiation B) Market development C) Product development D) Diversification E) Market penetration

D

19) A "marketing plan": 19) ______ A) is just another term for "marketing strategy." B) consists of several "marketing programs." C) is a strategy without all the operational decisions. D) includes the time-related details for carrying out a marketing strategy. E) ignores implementation and control details.

D

19) A basic difference between a "generic market" and a "product-market" is: 19) ______ A) whether customer needs are similar or different. B) whether or not sellers in the market rely on e-commerce. C) There is NO DIFFERENCE-the terms mean the same thing. D) how similar the competing sellers' products are. E) whether the market includes only buyers-or both buyers and sellers.

D

19) A convenience product would probably be sold using ________. 19) ______ A) Extensive distribution B) Selective distribution C) Sole-source distribution D) Intensive distribution E) Exclusive distribution

D

2) The MOST USEFUL dimensions for segmenting markets are: 2) _______ A) benefits sought. B) brand familiarity and consumption patterns. C) geographic and demographic dimensions. D) it depends on what product-market one is segmenting. E) social class.

D

2) Which of the following refers to a marketer countering negative publicity to save a product's image? 2) _______ A) Information filtering B) Perceptual mapping C) Adoption process D) Damage control E) Dissonance process

D

20) An emphasis on a single country's interests before everything else is known as ________. 20) ______ A) entrepreneurship B) socialism C) capitalism D) nationalism E) democracy

D

20) Firms develop ______ to promote fair and honest dealings with all stakeholders inside and outside of the organization. 20) ______ A) marketing departments B) marketing plans C) intermediaries D) codes of ethics E) a marketing orientation

D

20) ________ are reductions from list price that are given by a seller to a buyer who either gives up some marketing function or provides the function himself. 20) ______ A) Spiffs B) PMs C) Markups D) Discounts E) Phony prices

D

21) Generation Z refers to: 21) ______ A) those born between 1946 and 1964. B) those born between 1965 and 1977. C) those born in the generation immediately following the baby boom. D) those born since 1995.

D

22) Wants are ______. 22) ______ A) unchanging during a person's life B) strong stimuli that encourage action to reduce a need C) an effort to satisfy a drive D) needs that are learned during a person's life E) more basic than needs

D

22) Why should pricing objectives be explicitly stated? 22) ______ A) Explicitly stating objectives provides legal protection for the firm. B) Most state laws require explicitly stating legal objectives. C) Firms should always choose profit-oriented pricing objectives. D) They have a direct effect on pricing policies and the methods used to set the price. E) It provides direction for company-level objectives.

D

23) A(n) ______ is a person's point of view toward a product, an advertisement, a salesperson, a firm, or an idea. 23) ______ A) cue B) preference C) impression D) attitude E) belief

D

24) Selecting an effective promotion blend to reach a firm's promotion objectives requires careful consideration of the 24) ______ A) product life cycle stage. B) promotion budget available. C) nature of competition. D) All of these should be considered.

D

25) Costco is a warehouse store that sells groceries, household items, and business products. Purchase quantities tend to be larger than in traditional stores that serve final consumers. For example, soft drinks are only sold in 24-can cases, not in 6-packs. Coffee is sold in 3-pound cans instead of one-pound foil packs. Which regrouping activity is Costco shifting to the consumer? 25) ______ A) Sorting B) Accumulating C) Adjusting discrepancies D) Bulk-breaking E) Assorting

D

25) Which country bans any advertising targeted directly at children? 25) ______ A) India B) New Zealand C) USA D) Canada E) Japan

D

25) Which of the following is NOT a promotion method? 25) ______ A) personal selling B) sales promotion C) mass selling D) All of these choices are promotion methods.

D

27) Which of the following is NOT one of the target marketing approaches for developing market-oriented strategies in a broad product-market? 27) ______ A) Combined. B) Single. C) Multiple. D) Exclusive. E) All of these are target marketing approaches.

D

27) Which of the following is true of consumer behavior? 27) ______ A) Psychological variables are not relevant in the consumer decision process. B) Understanding consumer behavior is a simple and a straightforward procedure. C) Cataloging all the possibilities for consumer behavior is easy to do. D) Specific behaviors vary a great deal for different people, products, and purchase situations. E) In today's global markets, variations in specific behaviors are not very common.

D

50) Which of the following statements about the combined target market approach is True? 50) ______ A) Combiners may fall victim to an innovative segmenter that offers a more attractive marketing mix to a segment of the combined target market. B) Combiners feel that two or more segments are similar enough that-together-they can be treated as one large target market. C) Combiners try to extend their basic offering to satisfy customers from multiple segments with a single marketing mix. D) All of these statements about the combined target market approach are true.

D

50) ________ conflict occurs between firms at different levels in the channel of distribution. 50) ______ A) Horizontal B) Diagonal C) Cyclical D) Vertical E) Parallel

D

51) The "battle of the brands" refers to competition between: 51) ______ A) wholesalers and other wholesalers. B) retailers and other retailers. C) retailers and wholesalers. D) manufacturers and intermediaries. E) manufacturers and other manufacturers.

D

52) The marketing management process is the process of: 52) ______ A) Implementing marketing plans. B) Planning marketing activities. C) Controlling marketing plans. D) All of these.

D

53) ______ refers to a firm's obligation to improve its positive effects on society and reduce its negative effects. 53) ______ A) The nonprofit orientation B) Legal obligations C) The micro-macro dilemma D) Social responsibility E) Marketing ethics

D

54) An expectation is ______. 54) ______ A) a positive cue B) an event that a person likes to remember C) an unfulfilled need D) an outcome that a person looks forward to E) None of these alternatives is correct.

D

54) ________ refers to offering new or improved products for present markets. 54) ______ A) Market penetration B) Diversification C) Market development D) Product development E) Differentiation

D

55) The market into which a company introduces components or parts that may be bought and configured into the final product and sold by the reseller is called the: 55) ______ A) optimal brand market. B) operational essentials market. C) general market. D) original equipment market. E) aftermarket.

D

55) ______________ means selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product. 55) ______ A) Multichannel distribution B) Selective distribution C) exclusive distribution D) Intensive distribution E) Aggressive distribution

D

56) A "market" consists of: 56) ______ A) customers who are willing to exchange something of value. B) sellers offering various ways of satisfying customer needs. C) a group of potential customers with similar needs. D) all of these are correct.

D

59) Looking at marketing as a set of managerial activities focuses on ______. 59) ______ A) macro-marketing B) nonprofit marketing C) personalized marketing D) micro-marketing E) for-profit marketing

D

6) Strategy "Place" decisions would NOT include: 6) _______ A) type of intermediaries/collaborators. B) type of physical distribution facilities. C) degree of market exposure desired. D) geographic pricing policy. E) type of channel of distribution.

D

6) Which of the following laws focuses specifically on price discrimination? 6) _______ A) Federal Trade Commission Act B) Magnuson-Moss Act C) Sherman Act D) Robinson-Patman Act E) Wheeler-Lea Act

D

60) In the adoption process, ______. 60) ______ A) interest is the first stage B) evaluation precedes interest C) trial precedes evaluation D) confirmation is the last stage E) None of these is correct.

D

62) The regrouping activity which involves putting together a variety of products to give a target market what it wants is called ________. 62) ______ A) sorting B) accumulating C) bulk-breaking D) assorting E) wholesaling

D

64) Which of the following best illustrates adjusting "discrepancies of assortment?" 64) ______ A) Over 310 million U.S. consumers are served by approximately 330,000 manufacturers. B) General Motors makes Hummer for one product-market and Chevrolet for another product-market. C) Three firms produce over 60 percent of all the DVD players sold in the United States. D) A hardware store sells all the hardware items wanted by most people. E) RCA sold more than 2,000,000 TVs last year.

D

68) Specialty products: 68) ______ A) are generally high in price. B) cannot be found using the Internet. C) have a number of close substitutes. D) are brands customers request by name. E) None of these alternatives is correct.

D

69) A product which becomes part of a buyer's final product, and still requires more processing is called ______. 69) ______ A) a raw material B) a supply C) a component part D) a component material E) an installation

D

76) A ______ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way. 76) ______ A) generic market B) market network C) market grid D) market segment E) consumer network

D

77) ________ is a manager who helps directs the activities of a whole channel and tries to avoid or solve channel conflicts. 77) ______ A) A channel executive B) A distribution manager C) A channel captain D) Distribution leader E) Channel coordinator

D

8) Sales promotion can be aimed at 8) _______ A) a company's own sales force. B) intermediaries. C) final consumers or users. D) Any or all of these is correct.

D

80) A large food retailer acquiring a cheese factory is an example of: 80) ______ A) horizontal integration. B) dual distribution. C) internal expansion. D) vertical integration. E) a tying contract.

D

84) Product recalls, returns, and recycling plans require some firms to use ________. 84) ______ A) contractual channel systems B) vertical integration C) exclusive distribution D) reverse channels E) selective distribution

D

89) Intermediaries are needed LEAST when the desired degree of market exposure is: 89) ______ A) selective. B) intensive. C) ideal. D) exclusive. E) none of these choices is correct.

D

21) Which of the following is an example of the "micro-macro dilemma?" 21) ______ A) A person gets a speeding ticket because she was talking on her cell phone while driving and didn't notice a speed limit sign. B) A person is injured while using a power lawn mower because of a small stone that is hurled from the discharge chute. C) A homeowner purchases a ladder but falls off it because he didn't set up the ladder according to the safety instructions posted on it. D) A person drives without fastening his seat belt even though a warning light and chime remind him to "buckle up." E) A restaurant owner uses plastic containers to keep "take-out" food warm for customers, but the containers cannot be reused or recycled.

E

22) Sales force training is needed for anyone 22) ______ A) with some selling experience-but no knowledge of the company or its products. B) with prior selling experience with the firm's type of products. C) who is new to sales and/or the company's products. D) with knowledge of the company's products-but no selling experience. E) All of these alternatives are correct.

E

23) For many firms, the largest single operating expense is ________. 23) ______ A) research and development B) administrative overhead C) product management D) publicity E) personal selling

E

23) How does advertising differ from any other form of promotion? 23) ______ A) It tries to attract attention to the firm and its offerings without having to pay media costs. B) It involves direct spoken communication between sellers and potential customers. C) It is the main form of personal selling which includes the use of traditional media as well as new media. D) It is any unpaid form of nonpersonal presentation of ideas, goods, or services. E) It must be paid for, while another form of mass selling-publicity is unpaid.

E

23) The regrouping activity which involves grading or sorting products into the grades and qualities desired by different target markets is called ________. 23) ______ A) accumulating B) allocation C) assorting D) wholesaling E) sorting

E

23) Why would Coca-Cola want to encourage its customers to store product in their homes? 23) ______ A) It refers to the marketing function of holding goods. B) Shipping costs to transport the product are reduced C) The sales price of the product decreases D) Shipping time to transport the product is reduced E) More of the product is used or consumed

E

24) All of the following are regrouping activities EXCEPT 24) ______ A) assorting. B) bulk-breaking. C) sorting. D) accumulating. E) channeling.

E

24) Which of the following is LEAST LIKELY to compete in the same generic market as the others? 24) ______ A) Fruit salad. B) Ice cream. C) Apple pie. D) Chocolate chip cookie. E) Pretzel.

E

25) The universal functions of marketing can be performed by ______. 25) ______ A) intermediaries B) consumers C) collaborators D) producers E) all of these

E

25) What is left of income after paying for taxes and paying for necessities? 25) ______ A) Real income B) Net income C) Deductible income D) Gross income E) Discretionary income

E

26) "Cooperative advertising" involves producers: 26) ______ A) and intermediaries sharing in the cost of advertising placed in national media. B) paying for intermediaries' total advertising costs. C) doing some advertising and expecting their intermediaries to provide the rest of the promotion blend. D) agreeing with competitors to limit advertising spending. E) and intermediaries sharing in the cost of local advertising.

E

26) Business products that are necessary expense items, and continually used up, but which do not become part of the buyer's final product are: 26) ______ A) component materials. B) accessory equipment. C) component parts. D) raw materials. E) supplies.

E

26) Discretionary income is defined as ______. 26) ______ A) total market value of goods and services produced B) income available before taxes C) income available after taxes D) gross domestic product per capita E) income available after taxes and necessities

E

26) Segmenting international markets can be more difficult because: 26) ______ A) a manager must rely entirely on his or her own judgments about people in other countries. B) the concepts and approaches for segmenting domestic markets simply do not apply. C) there are fewer useful dimensions. D) the quantity and quality of available market data are usually greater. E) there are more dimensions and many unfamiliar variables.

E

27) In 2014, ________ percent of the population used Twitter in the United States. 27) ______ A) 45 B) 30 C) 60 D) 5 E) 19

E

28) The first step in segmenting international markets is to: 28) ______ A) treat all the countries in the "foreign market" as one segment. B) develop a marketing mix. C) consider the number, size, kind, and location of business and organizational customers. D) list the suppliers who serve the market. E) segment by country or region-looking at demographic, cultural, and other characteristics.

E

29) "Breakthrough opportunities" are opportunities that: 29) ______ A) help a firm satisfy customers better than some competitor. B) may be turned into marketing strategies that will be profitable for a long time. C) help the firm develop a "competitive advantage." D) help innovators develop hard-to-copy marketing strategies. E) All of these apply to breakthrough opportunities.

E

29) Communication with noncustomers, including labor, public interest groups, stockholders, and the government is generally referred to as ______. 29) ______ A) advertising B) branding C) publicity D) sales promotion E) public relations

E

3) Differentiating the marketing mix is important because: 3) _______ A) It can clarify the position the firm wants to achieve with customers. B) It can help target customers to view the firm's position in the market as uniquely suited to their preferences and needs. C) It can help the firm build a competitive advantage with a group of target customers. D) It can contribute to better blending of marketing mix decisions to achieve desired objectives. E) All of these alternatives are true

E

3) Pick the social media platform that has the highest usage percent, as shown by research studies, among all online adults. 3) _______ A) Pinterest B) LinkedIn C) Twitter D) Instagram E) Facebook

E

49) The Federal Fair Packaging and Labeling Act: 49) ______ A) ensures that all labels list the "green benefits" of using the product. B) says that producers must provide a clearly written warranty if they choose to offer a warranty. C) spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them. D) requires food manufacturers to use a labeling format that allows consumers to compare the nutritional value of different products. E) requires that consumer goods be clearly labeled to give consumers more information.

E

49) The total market value of goods and services provided in a country's economy per year by both residents and nonresidents of that country is ________. 49) ______ A) gross national product B) gross disposable income C) gross national income D) gross domestic income E) gross domestic product

E

5) A S.W.O.T. analysis includes: 5) _______ A) threats. B) strengths. C) opportunities. D) weaknesses. E) All of these are included in a S.W.O.T analysis.

E

5) In a recent online survey of over 29,000 Internet consumers from 58 countries, what percentage of respondents trusted recommendations from people they knew? 5) _______ A) 58 percent B) 51 percent C) 72 percent D) 42 percent E) 84 percent

E

5) The digital advertising that can stimulate viral with its wide reach and can be narrowly targeted at relatively low cost is ________. 5) _______ A) search advertising B) directories and classifieds C) banner ads D) mobile advertising E) social network advertising

E

5) Which of the following is the BEST example of a "generic market?" 5) _______ A) The sports drink market B) the minivan market. C) The female exercise shoes market D) The sporting goods market E) The adult "personal expression" market

E

50) Warranties inspire customer confidence and trust for all the following reasons except: 50) ______ A) they make legally enforceable promises about product performance. B) they show that marketers stand behind their products. C) they are clearly written and included with products for easy access. D) they offer refunds or replacement for defective products. E) some reduce the responsibility a producer would have under common law.

E

50) Which of the following is not a need that affects the buying behavior of economic buyers? 50) ______ A) Dependability in use B) Economy of purchase or use C) Convenience D) Efficiency in operation or use E) Motivation

E

51) A selective distribution policy might be used to avoid selling to wholesalers or retailers that: 51) ______ A) Make too many returns. B) Have poor credit. C) Place orders that are too small. D) Request too much service. E) All of these alternatives are correct.

E

51) The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people is a(n) ______. 51) ______ A) class B) tradition C) society D) ethnicity E) culture

E

52) "Discrepancies of assortment" means: 52) ______ A) there are more producers than wholesalers. B) consumers want more output than producers can make. C) some consumers buy more products than others. D) some producers can produce more products than others. E) the difference between the product lines the typical producer makes and the assortment wanted by final consumers or users.

E

52) Consumer buying behavior is affected by ______. 52) ______ A) social class B) physiological, safety, social, and personal needs C) opinion leaders D) reference groups E) All of these affect consumer buying behavior.

E

52) ______ refers to how customers think about proposed or present brands in a market. 52) ______ A) Dimensioning B) CRM C) Differentiating D) Clustering E) Positioning

E

53) The most common criticisms of promotion relate to ______. 53) ______ A) online reviews B) celebrity endorsements C) promotional contests D) publicity videos E) exaggerated claims

E

53) Which of the following is typically the lowest risk approach for moving into international markets? 53) ______ A) management contracting B) direct investment C) joint venturing D) licensing E) exporting

E

53) Which of the following product-market "names" refers to where a firm competes, or plans to compete, for customers? 53) ______ A) Customer types B) Warranty period C) Product type D) User Needs E) Geographic area

E

53) ______________ means a brand is not recognized by final customers at all. 53) ______ A) Brand rejection B) Brand insistence C) Brand preference D) Brand recognition E) Brand nonrecognition

E

54) Early adopters, compared to innovators 54) ______ A) Rely more heavily on scientific or impersonal information sources. B) Adopt a new idea earlier. C) Are more willing to take risks. D) Are infrequently opinion leaders. E) Tend to have greater contact with salespeople.

E

55) Marketing means ______. 55) ______ A) making good products B) performing services C) promotion D) distribution. E) more than selling and advertising

E

57) A ______ is a strong stimulus that encourages action to reduce or satisfy a need. 57) ______ A) want B) desire C) motivation D) deed E) drive

E

57) Which of the following is not a benefit that an intermediary is likely to provide for producer-suppliers? 57) ______ A) reduce the need to store inventory B) reduce credit risk C) reduce the need for working capital D) reduce the need for marketing research E) All of these are likely benefits provided to suppliers.

E

58) Needs such as accomplishment and relaxation, which are unrelated to what others think or do, are known as ______. 58) ______ A) physiological needs B) biological needs C) safety needs D) social needs E) personal needs

E

59) Reverse channels may be used to retrieve products from: 59) ______ A) intermediaries B) business customers and intermediaries C) business customers D) final consumers E) all of these

E

6) A good job description will help a new sales manager see 6) _______ A) the kind of training needed. B) how salespeople should be paid. C) what selling tasks are needed. D) the kind of salespeople to be selected. E) All of these alternatives are correct.

E

60) The federal Magnuson-Moss Act: 60) ______ A) ensures that all labels list the "green benefits" of using the product. B) requires that consumer goods be clearly labeled to give consumers more information. C) spells out what kinds of marks (including brand names) can be protected and the exact method of protecting them. D) requires food manufacturers to use a labeling format that allows consumers to compare the nutritional value of different products. E) says that producers must provide a clearly written warranty if they choose to offer a warranty.

E

62) When Procter and Gamble offers both Pantene and Vidal Sassoon shampoos to its customers, which target market approach is Procter and Gamble using? 62) ______ A) Generic B) Single C) Clustering D) Combined E) Multiple

E

65) _____ means separating products into grades and qualities as desired by different target markets. 65) ______ A) Assorting B) Accumulating C) Bulk-breaking D) Discrepancy of quality E) Sorting

E

65) ______ means potential customers insist on a firm's branded product and are willing to search for it. 65) ______ A) Brand rejection B) Brand nonrecognition C) Brand preference D) Brand recognition E) Brand insistence

E

67) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called: 67) ______ A) Market pioneering. B) Market research. C) Market development. D) Market penetration. E) Market segmentation.

E

7) The fact that our eyes and minds seek out and notice only information that interests us is called ______. 7) _______ A) selective perception B) conscious cognition C) preconscious perception D) selective retention E) selective exposure

E

7) Which of the following is the most accurate definition of the term segmenting? 7) _______ A) It uses scientific rules to decide how many submarkets exist. B) It assumes that each person should be treated as a separate target market. C) It assumes that all customers can be clustered into profitable market segments. D) It is a disaggregating or "breaking down" process. E) It is an aggregating process

E

7) Which of the following laws specifically makes illegal any price discrimination which injures competition? 7) _______ A) Magnuson-Moss Act B) Sherman Act C) Wheeler-Lea Act D) FTC Act E) Robinson-Patman Act

E

7) _____ is a promotion activity that tries to spark immediate interest in the consumer. 7) _______ A) Advertising B) Press release C) Personal selling D) Publicity E) Sales promotion

E

70) Every morning, Sycamore Dairy picks up milk that farmers have "milked" that morning. The dairy processes the milk and separates the cream from the milk. Some of the cream is then made into butter and packaged in various size containers. The milk and remaining cream are blended into various products, sealed in pint, quart, and half-gallon containers, and then delivered to supermarkets in the quantities and assortments ordered. The dairy is providing what regrouping activity? 70) ______ A) Assorting B) Sorting C) Bulk-breaking D) Accumulating E) All of these regrouping activities are being provided by Sycamore Dairy.

E

70) The text's consumer product classes are based on: 70) ______ A) the demand elasticity of the products. B) the quantity in which products will be purchased or used. C) how the sellers view the products. D) the type of stores that sell the products. E) the way people think about and shop for products.

E

71) ____ dimensions actually affect the customer's purchase of a specific product or brand in a product-market. 71) ______ A) Demographic B) Behavioral C) Geographic D) Qualifying E) Determining

E

73) For heterogeneous shopping goods, marketers should ________. 73) ______ A) sell through low-cost retailers B) avoid selling through online stores C) provide limited customer support as customers focus mostly on low prices D) keep the level of salesforce in the retail stores to the lowest level possible E) utilize knowledgeable salespeople who can provide insights about different brands and models

E

74) A producer that is selling all its products under one brand name is using a ______ brand. 74) ______ A) a national B) a licensed C) a generic D) an individual E) a family

E

74) The triple bottom line is a measure of a firm's success based on multiple criteria commonly referred to as ______. 74) ______ A) brands, buyers, and bucks B) product, price, and promotion C) segmentation, targeting, and positioning D) partnership, planning, and positioning E) people, planet, and profit

E

74) Which of the following is not a valid criterion of a "good" market segment? 74) ______ A) Heterogeneous between B) Homogeneous within C) Substantial D) Operational E) Remarkable

E

75) Which of the following business products are usually treated as expense items? 75) ______ A) professional services B) supplies C) component parts and materials D) raw materials E) all of these products are expense items

E

79) Selling products manufactured in the United States to foreign customers-often without any product changes-is called ________. 79) ______ A) licensing B) importing C) joint ventures D) contract manufacturing E) exporting

E

8) Product type determining dimensions ______. 8) _______ A) are generally relevant to purchasing behavior B) are less specific than qualifying dimensions C) affect the customer's choice of a specific kind of product D) are relevant to including a customer type in the product-market E) affect the customer's purchase of a specific product branD

E

8) The vertical marketing system that typically has the greatest amount of cooperation among channel members is a(n): 8) _______ A) Administered channel system. B) Franchise channel system. C) Traditional channel system. D) Contractual channel system. E) Corporate channel system.

E

8) ______ is a change in a person's thought processes caused by prior experience. 8) _______ A) Selective retention B) Processing C) Perception D) Wanting E) Learning

E

86) Marketers need to foster cooperation with various members of a channel system to prevent ________. 86) ______ A) channel confusion B) channel competition C) channel surfing D) channel changing E) channel conflict

E