Marketing 5000 - Exam Part 1 chapter 7-12

Which of the following is often used to raise revenue for a country and/or to protect domestic products? a. Quota b. Warning label c. Embargo d. Import tariff e. Exchange control

Import tariff

Anyone who becomes a member of Twitter, Facebook, or other social networking sites is a a. Collector. b. Spectator. c. Joiner. d. Creator. e. Critic.

Joiner.

After doing considerable shopping, Eric has just decided what brand and type of athletic shoes to buy and where he's going to buy them. In what stage of the consumer buying decision process is Eric? Problem recognition Information search Evaluation of alternatives Purchase Postpurchase evaluation

Purchase

Shannon Hill needed to buy an airline ticket to visit her parents. She called several airlines to compare rates and chose a flight on Southwest Air Lines because, for comparable prices, it had a better reputation for service. For Shannon, this flight is an example of which type of product? a) Shopping b) Convenience c) Specialty d) Unsought e) Industrial

Shopping

What type of pricing objective would an organization use if it were in a favorable position and desired nothing more? a. Return on investment b. Cash flow c. Profit d. Status quo e. Survival

Status quo

A market share objective a. is not recommended when sales for the total industry are declining. b. is not especially useful when sales for the total industry are increasing. c. is not especially useful when sales for the total industry are flat. d. is useful primarily in an industry where total sales are increasing. e. can be used effectively whether total industry sales are rising or falling.

can be used effectively whether total industry sales are rising or falling

Business products are a) purchased for personal consumption. b) chosen on the basis of preferences expressed by a business procurement department. c) purchased for both their functional aspects and their psychological rewards. d) classified according to their characteristics and intended uses. e) not purchased by non-business organizations.

classified according to their characteristics and intended uses.

Red Bull has started introducing new products and information to bloggers in the hope that they will pass the information on to their online followers. In this case, the bloggers are a. collectors. b. spectators. c. joiners. d. creators. e. critics

creators

When establishing prices, a marketer's first step is to a. determine demand. b. develop pricing objectives. c. select a pricing policy. d. evaluate competitors' prices. e. determine a pricing method.

develop pricing objectives.

While shopping at a local grocery store, Taylor sees a display of his favorite brand of energy drink. He buys some to take home for the weekend. This purchase process would be described as

routinized response behavior.

Jana works for Hormel Foods and she frequently sets up special displays and distributes samples of Hormel products to customers in supermarkets. Jana would best be classified as a(n) a. trade salesperson. b. technical salesperson. c. inside order taker. d. field order taker. e. missionary salesperson.

trade salesperson

The three most widely recognized types of consumer problem solving are: a) limited problem solving, extended problem solving, and routinized response behavior. b) extended problem solving, enduring problem solving, and situational problem solving. c) planned problem solving, impulse buying, and limited problem solving. d) internal problem solving, external problem solving, situational behavior. e) responsive behavior, planned behavior, and impulsive problem solving. a) limited problem solving, extended problem solving, and routinized response behavior.

a) limited problem solving, extended problem solving, and routinized response behavior.

Quality modifications are changes that relate to a product's a) dependability and durability. b) effectiveness and versatility. c) price and availability. d) reliability and value. e) value and durability.

dependability and durability.

The ability of a marketer to identify customers before they make a purchase is called a) connectivity. b) addressability. c) interactivity. d) accessibility. e) control.

addressability.

Kolder Inc. is using a new just-in-time inventory management system that requires ordering smaller quantities of parts more frequently. The success of its business depends significantly on receiving these parts very quickly, so like many other companies using just-in-time, Kolder Inc. is relying more on the ____ mode of transportation despite its expense. a. railroad b. pipeline c. airway d. truck e. waterway

airway

The supply chain includes a) producers, wholesalers, and retailers. b) suppliers, producers, intermediaries, and customers. c) suppliers and suppliers' suppliers. d) all entities that facilitate product distribution. e) buyers, seller, marketing intermediaries, and agents.

all entities that facilitate product distribution

Ryan is on his way to work when he realizes he has a flat tire. He swings into Sam's Club and has a new tire installed. Ryan's purchase of a new tire in this situation is considered to be a. a shopping good b. a convenience good c. an unsought good d. a specialty good e. an industrial good

an unsought good

Creating a favorable impression and developing rapport with prospective customers is a critical part of the ____ step of personal selling. a. following up b. making the presentation c. approach d. prospecting e. preapproach

approach

Problem recognition occurs when a consumer a. searches for information to resolve a problem. b. becomes aware that there is a difference between a desired state and an actual condition. c. recognizes a need. d. evaluates her or his purchase. e. is exposed to a television advertisement.

becomes aware that there is a difference between a desired state and an actual condition.

The environmental forces that affect foreign markets may differ dramatically from those affecting domestic markets. This makes a careful _______ a critical part of a successful international marketing strategy. a. background check b. regulatory analysis c. social audit d. environmental analysis e. marketing statement analysis

environmental analysis

All of the following are major steps in developing new products except a) test marketing. b) evaluation of competitors' efforts. c) screening. d) business analysis. e) idea generation.

evaluation of competitors' efforts.

Business markets are typically divided into four categories. These categories are a) retailers, wholesalers, services, and nonprofit firms. b) producer, manufacturer, reseller, and government. c) producer, reseller, government, and institutional. d) manufacturer, wholesaler, retailer, and services. e) reseller, retailer, government, and institutional.

producer, reseller, government, and institutional

Which of the following is the best example of a functional modification? a) Campbell's puts more of a higher-grade chicken in its classic chicken noodle soup. b) A smoke alarm is modified to be more sensitive to smoke at farther distances. c) Motorola uses a battery that allows its cell phones to charge back up more quickly. d) The manufacturer of the primer and sealer, Kilz, introduces an odorless variety. e) Friskies changes the ingredients in its cat food to a taste that is preferred by most cats.

A smoke alarm is modified to be more sensitive to smoke at farther distances

Which of the following pricing objectives sets prices to recover cash as quickly as possible? a. Market share b. Profit c. Cash flow d. Return on investment e. Product quality

Cash flow

Energizer batteries would be classified as which type of product? a) Convenience b) Shopping c) Specialty d) Unsought e) Industrial service

Convenience

Steinway produces concert grand pianos, often using the custom materials and designs desired by a specific customer. The average price of these pianos runs about $50,000 depending on the exact piano. What type of pricing does Steinway most likely use for these pianos? a. Markup b. Competition-based c. Cost-plus d. Demand-based e. Secondary-market

Cost-plus

When marketers at Nabisco meet to identify the types of snacks that young people want, they are engaging in which phase of new-product development? a) Idea generation b) Business analysis c) Test marketing d) Commercialization e) Product development

Idea generation

If Wrigley set its pricing objective as attaining 38 percent of the chewing gum market, what else would be needed to make this a true pricing objective? a. Statement of demand elasticities b. Identification of cost structure c. Breakeven analysis d. Identification of a time period for accomplishment e. Establishment of a subsequent pricing policy

Identification of a time period for accomplishment

Wal-Mart is currently expanding its stores into Canada and Mexico. This expansion is being facilitated by the a. European Union. b. North American Free Trade Agreement. c. Pacific Rim Unification Act. d. International Retail Alliance Association. e. Latin American Free Trade Association.

North American Free Trade Agreement

Large retailers such as J.C. Penney's and Target are most likely to participate in which of the following channels? a. Producer, industrial distributors, retailers, consumers b. Producer, consumers c. Producer, wholesalers, retailers, consumers d. Producer, retailers, consumers

Producer, retailers, consumers

Select the true statement. a) Legislation regulating marketing in many foreign countries is being eased. b) A government's attitude toward cooperation with importers has little impact on marketing to that country. c) Refusing to give payoffs and bribes in some foreign countries may put a marketer at a competitive disadvantage. d) Bribes and payoffs are considered unethical in all countries and cultures. e) Bribes and payoffs are supported by U.S. trade policies under certain

Refusing to give payoffs and bribes in some foreign countries may put a marketer at a competitive disadvantage.

Natalie is a sales representative with Nike. Tomorrow she will join with people from the firm's financial, engineering, and other functional areas to engage in the personal selling process. Natalie is engaged in a. Trade selling b. Missionary selling c. Relationship selling d. Team selling e. Technical selling

Team selling

The driving force behind marketing channel decisions should be a) convenience. b) cost reduction. c) environmental concerns. d) customer satisfaction. e) quality

customer satisfaction

Marissa goes to Target to purchase school supplies for her two children. As she is approaching the check-out counter, she sees a vase she just has to have and buys it immediately. Marissa's purchase of the vase is an example of a. limited problem solving. b. impulse buying. c. routinized response behavior. d. addictive consumption. e. situational involvement.

impulse buying.

A major disadvantage of personal selling is that it a. is not remembered as well by consumers as advertising messages are. b. cannot easily adjust the message to satisfy a customer's information needs. c. is very expensive per contact. d. does not provide immediate feedback. e. is not compatible with other promotional activities.

is very expensive per contact

Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of a) product modifications. b) functional modifications. c) aesthetic modifications. d) line extensions. e) product lining.

line extensions.

Yolanda's job is to find new customers for her company's telecommunication services. She encourages existing customers to add more services and finds customers who are completely new to the company. Yolanda would best be classified as a(n) a. order taker. b. order generator. c. missionary salesperson. d. technical salesperson. e. order getter.

order getter.

Institutional markets are a. intermediaries who resell goods to make a profit. b. federal and state government units. c. state or local government units. d. consumers who buy products for their own use. e. organizations that seek non-business goals.

organizations that seek non-business goals.

Special interest groups and regulatory bodies are ______ forces that must be taken into account in international marketing. socioeconomic technological economic social and ethical political and legal

political and legal

Claire is beginning to wonder if she has made the right decision about purchasing a new HP Laptop after she sees a friend with a new Dell. Claire's doubt whether she made the right decision occurs during the _____ of the buying decision process.

post purchase evaluation phase

Schwinn has developed a new bicycle that has the strongest and lightest-weight frame of any bicycle outside of those made for racing. In addition, Schwinn has added several new features to its bike that are attractive to individuals who work as "bike messengers" in large, urban cities. Since no other company makes a bike that has these specific attributes, Schwinn is creating a. a commercialization. b. consistency of quality. c. level of quality. d. product positioning. e. product differentiation.

product differentiation.

Sayyid's company has launched a new product line, and he is put in charge of sales. He decides his first step will be to find potential customers in the company's sales records. Sayyid is a. prospecting. b. screening. c. researching. d. pre-approaching. e. surveying.

prospecting.

The Internet can be referred to as a ____ medium because users determine which websites they are going to view. a. selective b. discriminating c. pull d. push e. monopolistic

pull

A specialty product a) requires minimal effort to purchase. b) is purchased frequently. c) requires purchase planning, and the buyer will not accept substitutes. d) is generally less expensive than other items in the same product class. e) prompts the purchaser to make comparisons among alternatives

requires purchase planning, and the buyer will not accept substitutes.

in business markets, individuals or groups purchase products for one of three purposes. these purposes are... a) resale, wholesale, and direct use b) wholesale, direct use, and use in producing other products c) resale, wholesale, and use in producing other products d) resale, direct use in producing other products, and use in general daily operations e) use in general daily operations, wholesale, and resale

resale, direct use in producing other products, and use in general daily operations

Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called a. specifications. b. product features. c. descriptions. d. purchase requests. e. criterion.

specifications.

Possession utility is best described as a. products being available in places where the customers wish to purchase them. b. the customer having access to the product to use now or store and use later. c. having a company's products available when a customer needs them. d. being able to legally own a product despite restrictions on trade. e. getting the products to the consumers in as short of time as possible for ownership.

the customer having access to the product to use now or store and use later

​The Internet has radically changed the way traditional marketing used the marketing mix to attract and retain customers. Now e-marketing strategies require the marketer to reexamine the characteristics of the four components of the marketing mix. With respect to e-marketing, which of the following statements about the four components of the marketing mix is true? a. The Internet is not a new distribution channel. b. Price is the least flexible component of the marketing mix. c. Distribution is the best application for digital media. d. Digital media marketing only facilitates price competition e. Most traditional promotions can be enhanced by using digital media.

​Most traditional promotions can be enhanced by using digital media.