mkt 320f practice questions

_____ is the conversion of a sender's ideas and thoughts into a message, usually in the form of words or signs. a. Encoding b. Decoding c. Reception d. Decryption

a

Electric World, an electronics manufacturing company, sells goods and accessories through its website. It also uses social media platforms to advertise its products to prospective customers. In this scenario, Electric World is an example of a(n) _____. a. direct retailer b. online retailer c. automatic vendor d. telemarketer

b

The term _____ refers to a series of stages determined by a combination of age, marital status, and the presence or absence of children. a. lifestyle b. family life cycle c. ethnic segmentation d. perceptual mapping

b

A product unknown to a potential buyer or a known product that a buyer does not actively seek is referred to as a(n) _____. a. convenience product b. homogenous shopping product c. unsought product d. accessory equipment

c

In thinking about the NAICS, companies at the ______ level have more in common than companies at the _____ level. a. industry; industry subdivision b. subsector; industry subdivision c. industry; subsector d. sector; industry group

c

The goal of internal marketing is to: a. offer financial incentives to employees who refer their friends and family to purchase the company's services. b. offer customers special rewards in an effort to earn their loyalty. c. treat and reward employees well so that they provide excellent customer service. d. remind employees of the company's service expectations through internal training and memos.

c

The main role of many nonprofit organizations is to a. compete with private-sector organizations rather than complement their efforts. b. serve the minimum number of people by targeting the niche users. c. provide services to those who are not adequately served by private-sector organizations. d. develop those market segments that are most likely to respond to particular offerings.

c

__________ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines. a. Marketing audit b. Implementation c. Control d. Evaluation

c

During which stage of the product life cycle, pioneering advertising is heavily used? a. Formative stage b. Growth stage c. Conception stage d. Introductory stage

d

Learning to differentiate among similar products is known as _____. a. stimulus generalization b. selective distortion c. selective perception d. stimulus discrimination

d

Unlike national retail advertising, local advertising by retailers a. focuses on image. b. is used only by independent retailers. c. aims at positioning a brand in consumers' minds. d. provides specific information about their stores.

d

________ promotes the benefits of a specific good or service. a. comparative advertising b. institutional advertising c. competitive advertising d. product advertising

d

A _____ is a homogeneous group of people divided on the basis of demographic characteristics, geographic regions, national and ethnic background, political beliefs, and religious beliefs. a. subculture b. popular culture c. reference group d. social class

a

A _____ is defined as a deduction from list price that applies to a single order rather than to the total volume of orders placed during a certain period. a. noncumulative quantity discount b. cumulative quantity discount c. trade discount d. functional discount

a

A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new product ideas that would allow it to compete more effectively? a. All of these b. Customers who have requested its catalogs c. Its foreign competitors d. The company's employees e. R&D

a

A popular use for barcode scanning apps is the reading and processing of a. Quick Response (QR) codes that take a user to a specific site with content about products or services. b. multimedia messages, which show an attachment after it has been scanned. c. voice messages on a smartphone. d. near field communication that transfers information from a device to a nearby device.

a

A product: a. is everything the customer receives in an exchange. b. may only be a tangible item. c. is the brand name, logo, and slogan of a company. d. is the service that a customer receives after purchasing an item.

a

An intelligence system that helps managers assess their competition and vendors in order to become more efficient and effective competitors is called: a. competitive intelligence. b. industrial espionage. c. competitive research. d. an audit. e. differential competitive advantage.

a

Antax Inc. and Wellabs Inc. are both information technology firms based in San Francisco. Antax outsources its warehousing operations to a firm in California, while Wellabs outsources the same operation to a firm in India. A difference between their outsourcing operations is that a. unlike Wellabs, Antax has reduced supply chain risk. b. unlike Antax, Wellabs manufactures its products more closely to major demand centers. c. unlike Wellabs, Antax incurs high fuel costs. d. unlike Antax, Wellabs makes its presence known at a local level.

a

Bryan is active user on Yelp, leaving reviews and ratings of restaurants he visits. Bryan is likely a: a. critic. b. spectator. c. collector. d. joiner.

a

Connections between cargo vessels or trucks and transportation networks may eventually lead to the development of smart transportation modes that reroute in real time based on local traffic patterns, weather events, and accidents. Which of the following will someday enable such a possibility? a. The Internet of Things b. Cloud computing c. Strategic channel alliances d. Electronic data interchange (EDI) e. Supply chain analytics

a

Finished items ready for assembly or items that need very little processing to become part of another product are called _____. a. component parts b. raw materials c. supplies d. processed materials

a

In an attempt to re-establish a prominent market dominance, Merith Vern, a goods transportation company, performed a study of its current and potential environment in which its service would be marketed. In this scenario, Merith Vern has most likely used _____ in an attempt to re-establish the prominence of its service in the market. a. a SWOT analysis b. Ansoff's strategic opportunity matrix c. the General Electric model d. a mission statement

a

In order to help gauge the effectiveness of a social media effort, marketers can follow five steps. After identifying the key performance indicators (KPIs), the next step is: a. Align your social media goals with your business objectives. b. Benchmark against competitors. c. Assign values to your KPIs. d. Set up Google Analytics to track conversions.

a

In the context of business marketing, which of the following statements is true of customer service? a. It involves evaluation of customer satisfaction and loyalty. b. It requires equal treatment to be given to all customers. c. It places higher priority on acquiring new customers over existing customers. d. It is limited to presale services offered to customers.

a

In the context of business products, which of the following statements is true of raw materials? a. Promotion of raw materials is usually done via personal selling. b. Raw materials are finished items ready for assembly. c. Individual producers greatly influence the pricing and supply of raw materials. d. Raw materials are usually sold in small quantities.

a

In the context of factors that affect elasticity, when there is no substitute available in the market for a certain essential product, the demand will be a. inelastic as consumers will pay whatever is charged for the product. b. solely determined by the quality of the product supplied in the market. c. inelastic if the product has a number of different uses. d. elastic as the price of the product will remain unchanged.

a

In the context of management uses of marketing research, understanding _____ enables grocery chain marketing managers to determine whether departments in their stores should be moved and/or reorganized. a. consumer purchase patterns b. profit-based research c. competitive market bases d. seller-rate segmentation

a

In the context of market data analysis, _____ allow analysts to look at the responses to one question in relation to the responses to one or more other questions. a. cross-tabulations b. open-ended questions c. two-way surveys d. one-way frequency counts

a

In the context of market segmentation, _____ segmentation divides a market by the amount of product bought or consumed. a. usage-rate b. geographic c. family life cycle d. benefit

a

Large companies may manage a number of very different businesses called _____. a. strategic business units b. strategic business alliances c. focus groups d. business clusters

a

Magnira, a cosmetics brand, launched a face cleansing cream. The television advertisements for the product promote that it is a medically proven cure for acne. Given the information, Magnira most likely uses a(n) _____ for its new product. a. concentrated targeting strategy b. undifferentiated targeting strategy c. universal marketing strategy d. multisegment targeting strategy

a

Marketers who want to leverage a social media campaign through paid, earned, and owned media a. must maximize owned media by reaching out beyond their existing websites. b. should remember that public and media relations always translate into earned media. c. should not focus on advertising through owned media if they have tight budgets. d. should consider that customer engagement cannot be achieved through paid media.

a

Product mix width refers to the number of a. product lines an organization offers. b. product items in a product line. c. market segments a firm is willing to target or serve. d. competitors present in the market for a particular product item.

a

Remembering only information that supports personal feelings or beliefs is called _____. a. selective retention b. self-actualization c. subliminal perception d. cognitive dissonance

a

The U.S. service economy: a. accounts for a significant portion of the U.S.'s economic output. b. is shrinking. c. is easily distinguishable from manufacturing firms. d. is mostly composed of landscaping, salon, and daycare service businesses.

a

The amount of ink a printing firm needs is based on the demand for materials that will be printed using that ink. This is an example of _____. a. derived demand b. elastic demand c. joint demand d. consumer demand

a

The sole purpose of the _____ is to protect the health and safety of consumers in and around their homes. a. Consumer Product Safety Commission b. Human Rights Commission c. Consumer Privacy Protection Act d. Patient Protection and Affordable Care Act

a

The two major categories of communications are: a. mass and interpersonal. b. long term and short term. c. verbal and nonverbal. d. direct and indirect. e. informative and persuasive.

a

The universal product code (UPC) is a a. series of thick and thin vertical lines read by computerized optical scanners that match codes with brand names, package sizes, and prices. b. series of numbers that uniquely identifies a company's product line after obtaining a trademark. c. name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products. d. name that identifies a product by class or type and therefore cannot be trademarked.

a

Unlike convenience products, shopping products are a. usually expensive. b. bought by consumers regularly and without much planning. c. distributed in one or a very few outlets in a geographic area. d. widely distributed.

a

Using consumers to develop and market products is known as _____. a. crowdsourcing b. personal selling c. text mining d. brandjacking

a

Vesper Modd, a retailer that sells musical instruments, holds an excellent reputation regarding the knowledge of its sales team. They cater to each customer with utmost attention and help them in choosing products. In this scenario, Vesper Modd is an example of a _____. a. specialty store b. supercenter c. department store d. supermarket

a

When Castrol Syntec, a premium motor oil, sought a new way to reach its young, car-passionate audience, the brand found its mark with video games. In its first-ever attempt at in-game advertising, Castrol Syntec found a way to show consumers (in a virtual world) the brand's power and performance. In the communication process, the game served as a(n) _____ for transmitting the message. a. channel b. encoder c. receiver d. sender e. decoder

a

When a business asks "What business are we in?" they are: a. defining their business mission. b. writing a marketing plan. c. determining how many SBUs to create. d. conducting an environmental analysis.

a

Which of the following is a difference between agents and wholesalers? a. Agents do not take title to goods and services they market but do facilitate exchanges of ownership between sellers and buyers, whereas wholesalers take title to the goods they sell. b. Agents are channels that sell directly to consumers as their primary function, whereas wholesalers provide contact efficiency for consumers. c. Agents generally have a large input into the terms of the sale, whereas wholesalers dramatically alter the form of a good and sell it directly to the consumer. d. Agents facilitate the movement of products and services from the manufacturer to producers, whereas wholesalers facilitate the sales of products downstream by representing the interests of retailers.

a

Which of the following is a difference between exclusive stores and warehouse clubs? a. Exclusive stores offer very high service levels, while warehouse clubs offer almost no service. b. Exclusive stores offer products at a heavy discount, while warehouse clubs offer no discounts. c. Exclusive stores offer standardized products, while warehouse clubs offer customized goods. d. Exclusive stores use an indirect distribution channel, while warehouse clubs use a direct channel.

a

Which of the following is a disadvantage of having a freestanding unit? a. It is difficult to attract customers to a freestanding location. b. It reduces the visibility of the store. c. It does not allow the store to build an identity with shoppers. d. It has high site costs or rent.

a

Which of the following is true of trade sales promotions carried out at business meetings and conventions? a. Companies can test the market response to new products. b. These events involve loyalty marketing programs. c. The cost per contact is much higher than in direct consumer sales. d. Brands sponsor such events by offering coupons and rebates.

a

Which of the following is true of web widgets? a. They allow customers to display company information on smartphone home screens. b. From a marketing perspective, they limit the reach of an organization beyond existing platforms. c. They allow developers to embed applications into a website as long as they understand the application's source code. d. They are more expensive to develop than apps.

a

Which of the following refers to an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand? a. Cooperative advertising b. Pioneer advertising c. Competitive advertising d. Institutional advertising

a

Which of the following statements best defines the term diffusion? a. It is the process by which the adoption of an innovation spreads. b. It is the process of deciding whether or not to market a product. c. It is the process of developing a prototype of a new product. d. It is the process by which a product is perceived as new by a potential adopter.

a

_____ segmentation clusters potential customers into neighborhood lifestyle categories. a. Geodemographic b. Benefit c. Usage-rate d. Family life cycle

a

Which of the following statements are true about global services marketing? (Check all that apply) a. The service offered in global markets may change based on consumer preferences. b. U.S. service industries have been successful in global markets because of their competitive advantages. c. The marketing mix elements will remain standard in all global markets. d. The United States is the world's largest exporter of services.

a, b, d

A _____ approach encourages customer loyalty through intimate knowledge of individual customers (often referred to as customer intimacy) and the development of one-to-one solutions to fit customers' needs. a. structural b. customization c. social d. financial

b

A _____ identifies goods in terms of class or type and cannot be trademarked. a. service mark b. generic product name c. private label d. store brand

b

A _____ includes any promotional display set up at a retailer's location to build traffic, advertise a product, or induce impulse buying. a. sampling-based advertisement b. point-of-purchase display c. segment-based advertisement d. point-of-contact display

b

A _____ is the unique combination of product, place (distribution), promotion, and price strategies. a. target market b. marketing mix c. management mix d. target economy

b

A break-even point is reached when a. actual sales figures meet projected sales figures. b. total costs equal total revenue. c. total revenue is equal to total profit. d. an optimal price results in peak sales.

b

A buyer that has little time to make a purchase decision would likely be classified as _____ rather than _____. a. an optimizer; a reseller b. a satisficer; an optimizer c. a producer; a volume purchaser d. an institution; a satisficer

b

A company that uses a psychographic market segmentation strategy will be most interested in the _____ of its potential customers. a. gender b. lifestyle c. marital status d. age

b

A difference between Generation X and Baby Boomers is that a. Baby Boomers are the most tech-savvy generation. b. Baby Boomers outspend in categories such as personal care products and medical care. c. Baby Boomers give more priority to saving money than any other age group. d. Baby Boomers are currently in two different stages of the life cycle.

b

Bub Fizz Inc. manufactures chewing gum. Through marketing research, it was learned that most of its customers use the chewing gum as mouth freshener. Hence, it modified its formula to manufacture gums that have a long-lasting flavor. In this scenario, which of the following was responsible for the change in the product? a. Promotion strategy b. Consumer behavior c. Green marketing d. Cause-related marketing

b

Having a _____ means to be an inexpensive competitor in an industry while maintaining satisfactory profit margins. a. mass competitive advantage b. cost competitive advantage c. product differentiation competitive advantage d. niche competitive advantage

b

Identify a true statement about sales-oriented firms. a. They target their products to specific groups of people. b. They target their products at "everybody" or the "average customer." c. They recognize that different customer groups want different features or benefits. d. They recognize the role of employee training in customer service and relationship building.

b

Imagine that you are planning a fund raising party for after the symphony, and you need a life-size grand piano cake. Or, you are a developer proposing a new shopping center to a group of investors, and you want to serve a cake shaped like an architectural rendition of the center. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes. She actually built a life-size grand piano for a gala in Macon, Georgia. You can expect to pay anywhere from $75 to $10,000 for one of Cecilia's artistic creations, depending on complexity of design and size. She uses only the best ingredients, and no two cakes are ever quite alike. Although many factors determine the prices charged by Cecilia Villaveces Cakes, the two primary determinants are: a. costs of manufacturing and distribution costs. b. the demand for the good and the cost to the seller. c. demand by the consumer and perceived quality. d. stage of the product life cycle and costs to the consumers. e. distribution and promotion strategies used by the cake maker

b

In the context of marketing research, which of the following statements is true of a field service firm? a. It collects data from periodicals and manuals. b. It provides focus group facilities to collect data. c. It interviews random groups of people at a time. d. It gathers research data through mail surveys.

b

In the context of purchasing profiles, _____ contact familiar suppliers and place the order with the first one to satisfy product and delivery requirements. a. optimizers b. satisficers c. maximizers d. augmenters

b

In the context of purchasing profiles, which of the following statements is true of optimizers? a. They refrain from the act of soliciting bids. b. They consider numerous suppliers and study all proposals carefully before selecting one. c. They solely focus on speeding up the buying process. d. They choose the first supplier that meets their minimum product expectations.

b

In the context of relationship marketing, _____ is the feeling of nurturing concern for, and dependence upon, another. a. nakes b. amae c. inelasticity d. multiplicity

b

In the context of service processes, _____ processing refers to services directed at people's minds. a. possession b. mental stimulus c. people d. information

b

In the context of the early stage of new-product development, 3D printing is also known as _____. a. discontinuous innovating b. additive manufacturing c. idea screening d. test marketing

b

Which of the following is a similarity between traditional advertising and social media? a. Both are efficient enough to obtain immediate feedback from customers. b. Both lack hard evidence as to the relative effectiveness of advertising tools. c. Both enable their prospective customers to interact with each other. d. Both offer one-to-one ways of interacting with consumers.

b

Which of the following is true of omnichannel marketing? a. It requires each channel to hold and account for its own inventory. b. It supports a company's multichannel retail operations and unifies its retail interfaces. c. It creates redundancy and complexity in a firm's distribution system. d. It requires each channel to operate different transportation and distribution systems.

b

Which of the following is true of trading up? a. It helps shoppers recognize true needs and spend less. b. It tries to persuade customers to buy a higher-priced item than they originally intended to purchase. c. It seeks to broaden customers' original purchases with related items. d. It seeks to increase store traffic by attracting people through advertisements outside the store.

b

Which of the following refers to a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns? a. Sales promotion b. Advertising response function c. Product advertising d. Institutional advertising

b

Which of the following refers to the social media users who maintain a social networking profile and visit other sites? a. Critics b. Joiners c. Creators d. Collectors

b

Which of the following scenarios illustrates a marketer acting as a receiver? a. A public relations officer sends out a press release about his company's new line of microprocessors. b. A salesperson listening as a customer explains the problems encountered with a recent purchase. c. A product developer conducts a survey among social media users before developing a new software application for them. d. A customer service representative sends an e-mail to a client informing him about the scheduled delivery time of his purchased items.

b

Which of the following statements is true of a product's positioning? a. It is ignored by consumer goods marketers. b. It influences potential customers' overall perception of a brand. c. It is not influenced by the quality of competing products. d. It refers to the market share of a company.

b

Which of the following statements is true of direct channel distribution? a. Business products pass through the producer, wholesaler, and retailer. b. Channels of distribution for business marketing are typically short. c. Direct channels have decreased in their usefulness dramatically in the past decade. d. Direct channels of distribution are uncommon.

b

Which of the following statements is true of social influences on consumer behavior? a. They include factors such as age, gender, and lifestyle. b. They help consumers obtain product information and decision approval. c. They rarely influence consumer buying decisions. d. They exert the broadest and deepest influence when compared to other external factors.

b

Which of the following statements is true of supply chain agility? a. It is composed of bundles of interconnected activities that stretch across firms in the supply chain. b. It is focused on creating inventory velocity and operational flexibility simultaneously in the supply chain. c. It is focused on integrating the supply-management and demand-generating functions of an organization. d. It is a system of management practices that are consistent with a ''systems thinking'' approach.

b

Which of the following statements is true of supply chain integration? a. It is a system of management practices that are consistent with a ''systems thinking'' approach. b. It occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are linked to one another. c. It is focused on creating inventory velocity and operational flexibility simultaneously in the supply chain. d. It occurs through the sharing of customer demand forecasts and data during sales and operations planning.

b

Which of the following statements is true of target markets? a. They only appeal to multiple market segments. b. They should be assessed based on demographics. c. They are not to be differentiated by ethnicity or culture. d. They should not be outside the country of a firm's headquarters.

b

Why is targeting a specific group of customers usually more successful than trying to appeal to everyone? a. It takes less effort b. It will satisfy the segment's specific needs c. It costs less d. Customer interests change

b

A _____ is a philosophy that focuses on the internal capabilities of a firm rather than on the desires and needs of the marketplace. a. sales orientation b. societal marketing orientation c. production orientation d. market orientation

c

A _____ product is a relatively inexpensive item that merits little shopping effort. a. major b. specialty c. convenience d. shopping

c

A difference between in-store retailing and nonstore retailing is that unlike a. in-store retailing, nonstore retailing only sells tangible, customized products. b. nonstore retailing, in-store retailing takes a long time in order processing. c. in-store retailing, nonstore retailing adds a level of convenience for customers who wish to shop from their current locations. d. nonstore retailing, in-store retailing is currently growing fast.

c

A way firms are keeping customers in the loyalty loop is by using _____. a. motivation b. routine response behavior c. automated reordering d. contextual interaction

c

Fresnas Corp. was held guilty for bribing foreign government officials to procure business deals. Which of the following government agencies is responsible for banning Fresnas Corp. from engaging in international business? a. Restoring American Financial Stability Act b. Consumer Product Safety Commission c. Federal Trade Commission d. Consumer Financial Protection Bureau

c

Gears, a motorcycle manufacturer, assembles 20 motorcycles each day. As the motorcycles roll down the assembly line, power tools are used by factory workers to tighten bolts wherever necessary on the product. In this scenario, power tools are examples of _____. a. component parts b. major equipment c. accessory equipment d. raw materials

c

In the context of business customers, which of the following statements is true of institutional purchasers? a. They carry thousands of items in stock and employ sales forces to contact business customers. b. They buy finished goods and resell them for a profit. c. They seek to achieve goals other than the standard business goals of profit. d. They buy business goods and incorporate them into products they produce.

c

In the context of marketing research, which of the following statements is true of primary data? a. They are cost-effective, thus saving money. b. They are data that are outdated or gathered from past market behavior. c. They are information collected for the first time. d. They cannot be used to answer specific research questions.

c

In the context of the new-product development process, laboratory tests are often conducted on prototype models in the _____ stage. a. screening b. business analysis c. development d. test marketing

c

Walmart realizes a _____ using its relationships with suppliers to give customers low prices and good customer service. a. brand name strategy b. marketing competitive advantage c. cost competitive advantage d. synergistic competitive advantage e. niche competitive advantage

c

Which of the following is a disadvantage of newspaper advertising? a. The advertiser commitment is short term. b. The individual market coverage is low. c. It has a low pass-along rate. d. Its reach is limited to only very narrow markets.

c

Which of the following is a purpose of owned media? a. To facilitate word of mouth or online buzz about something a brand is doing b. To boost the declining demand for newspapers and magazines c. To develop deeper relationships with customers d. To allow purchasing of advertisements on social networking websites

c

Which of the following is a reason for firms to adopt a societal marketing orientation? a. The urge to earn more profits b. Low profits from sustainable development c. Growing environmental concerns d. The increased use of green marketing

c

Which of the following is the final step in the marketing research process? a. Analyzing data b. Communicating recommendations c. Following up d. Preparing the project report

c

Which of the following statements is true of branding? a. It protects goods as they move through packaging channels. b. It reinforces the exclusive right of a company to manufacture a particular product line. c. It allows marketers to distinguish their products from their competitor's products. d. It enables manufacturers to reduce manufacturing and shipping costs.

c

Which of the following statements is true of business markets? a. Business markets are typically smaller than consumer markets in most countries. b. In business markets, products are sold for the purpose of personal consumption. c. In business markets, a single customer can account for a huge volume of purchases. d. The key characteristic distinguishing business products from consumer products is physical form.

c

Which of the following statements is true of consumer decision making? a. Cultural, social, individual, and psychological factors do not influence the postpurchase behavior. b. Consumer decision making occurs independent of any external factor. c. Underlying cultural, social, individual, and psychological factors strongly influence the decision process. d. Consumers use routine response behavior for buying high-involvement products.

c

Which of the following statements is true of customer relationship management (CRM) companies? a. They help managers assess their competitors. b. They understand the interactions with old customers. c. They leverage customer data and information. d. They analyze information about their competitors' customers.

c

Which of the following statements is true of private-sector organizations? a. They focus on consumers who are strongly opposed to receiving their services. b. They must complement nonprofit organizations instead of competing with them. c. They give priority to market segments that are most likely to respond to particular offerings. d. They are pressured to serve the maximum number of people by targeting the average user.

c

Which of the following statements is true of specialty products? a. Products are available at multiple locations due to global distribution. b. Products are usually unknown to potential buyers. c. Brand names and quality of service are often very important. d. Customers do not actively seek specialty products.

c

Which of the following statements is true of the North American Industry Classification System (NAICS)? a. The geographic dispersion of firms cannot be identified with the help of NAICS. b. The more the digits in a NAICS code, the less homogeneous a group will be. c. Information collected through NAICS can be converted to sales forecasts. d. Each classification group in NAICS is heterogeneous in terms of the components used.

c

Which of the following statements is true of the order fulfillment process? a. It enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain. b. It refers to the time delay between the placement of a customer's order and the customer's receipt of that order. c. It involves generating, filling, delivering, and providing on-the-spot service for customer orders. d. It ensures that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process.

c

Which of the following statements is true of the product life cycle (PLC)? a. The PLC of a product cannot be extended once its sales decline. b. The PLC for a product form is usually shorter than the PLC for a brand. c. The PLC can be used to analyze a brand, a product form, or a product strategy. d. The time a product spends in any one stage of the PLC is constant for all the products in that category.

c

An important part of evaluating satisfaction with a purchase is reducing any lingering doubts. To reduce cognitive dissonance, a consumer could do all of the following except: a. look for favorable reviews of the product online. b. seek positive opinions about the products from friends and family. c. return the product. d. look for unfavorable reviews of the product online to confirm their doubts.

d

Fournotts Corp. launched a new line of toothpastes last year. Even when the company significantly increased the toothpastes' price, its sales did not drop. In this scenario, which of the following is the reason behind this behavior of consumers? a. Toothpaste is a perishable product. b. The demand for common items like toothpaste is in equilibrium with its supply. c. Other products can be used instead of toothpaste. d. The price of toothpaste is inconsequential to the consumers who buy them.

d

In the context of marketing research, which of the following statements is true of virtual shopping? a. Information about customers' buying behavior cannot be gathered. b. It increases business costs for a manufacturer because of high-end setups involved. c. Customers are required to walk around a store and tag the products they wish to buy using a scanner. d. Researchers simulate an actual retail store environment on a computer screen.

d

In the context of populations, which of the following is a similarity between tweens and teens? a. Both populations give priority to saving money. b. Both populations believe that price and quality are very important when making purchase decisions. c. Both populations are massive in size compared to other populations. d. Both populations have high spending power.

d

In the context of probability samples, a _____ sample is arranged in such a way that every element of the population has an equal chance of being selected as part of the sample. a. judgment b. convenience c. quota d. random

d

Which of the following statements is true regarding companies engaged in relationship marketing? a. They are focused on increasing sales volume. b. They are focused on attracting new customers. c. They are focused on developing a competitive advantage. d. They are focused on improving rapport with current customers.

d

In the adopter categories, the final 16 percent to adopt are similar to innovators in that they do not rely on the norms of the group but are independent because they are bound to tradition. They tend to have the lowest socioeconomic status, are suspicious of new products, and are alienated from a rapidly advancing society. They are called: a. luddites. b. decliners. c. generics. d. late majority. e. laggards.

e

M&M's famous slogan, "Melts in your mouth, not in your hand," is an example of a(n): a. basis for comparative advertising. b. advertising objective. c. basis for lifestyle strategy. d. promotional mix. e. unique selling proposition.

e

One configuration of a marketing channel entails producers selling to consumers without any intermediaries in the channel. This is called a(n): a. alternative channel. b. indirect channel. c. reciprocal channel. d. limited distribution system. e. direct channel.

e

Deciding who to target is the first step in market segmentation. True False

false

Assume a firm sells 1M units of its product for $10 and has a 30% gross profit margin ($3). Cutting the price to $9.50 might stimulate unit sales by 10%. Will the assumed increase in sales volume offset the decrease in margin? There is no way to tell without knowing variable and fixed costs. No, the increase in sales will not offset the decrease in margin. Yes, the increase in sales will offset the decrease in margin due to increased demand.

no

"One-size-fits-all" marketing is largely out of date. True False

true

Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies. True False

true

Profits typically reach their peak during the growth stage of the product life cycle. True False

true

A pricing objective of a nonprofit organization is to a. maximize sales. b. achieve a profit for distribution to stockholders. c. maximize returns on investments. d. either partially or fully defray costs.

d

In thinking about different types of sales promotions, winning a ______ depends on chance and participation or entry is free while a ______ requires some skill or ability to compete for prizes. a. loyalty rewards program; premium b. contest; loyalty rewards program c. rebate; sweepstakes d. sweepstakes; contest

d

Which of the following is a critical component of a market orientation? a. An aggressive promotional strategy that might help save a bad product b. An aggressive sales force that can reliably improve a company's sales c. An assessment to decide what a firm can produce easily irrespective of customer needs d. An understanding of competitors' strengths and weaknesses

d

Which of the following represents all activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use? a. Manufacturing b. Production c. Product development d. Retailing e. Sales and Marketing

d

A company will most likely market its product under a different name in a new market if a. there is difficulty in pronouncing the product name in the new market. b. the product does not have any competition in the new market. c. the product requires universal identification in all its markets. d. the company markets only one product.

a

In the context of the buying behavior of a family, _____ are those members of a family who actually exchange money for a product. a. purchasers b. influencers c. consumers d. initiators

a

The category of business customers that accounts for the greatest volume of purchases in the in United States is: a. governments. b. producers. c. resellers. d. institutions.

a

Which of the following is an advantage of advertising through newspapers? a. Geographical flexibility b. Long lead time c. Long-term advertiser commitments d. Extensive range of color capabilities

a

Which of the following statements is true of marketing objectives? a. They should be realistic. b. They should encompass a larger marketing strategy. c. They should not be measurable. d. They should not be compared to a benchmark.

a

Which of the following statements is true of price skimming? a. A successful skimming strategy enables management to recover its product development costs quickly. b. Firms often believe it is better to test the market at a lower price and then raise the price if sales are too slow. c. A skimming strategy will discourage competitors from entering a market. d. Successful skimming strategies are limited to products and do not extend to services.

a

Which of the following statements is true of Internet surveys? a. They incur labor-intensive efforts like traditional survey methods. b. They are more cost intensive than phone surveys. c. They issue standardized sets of questions instead of personalized questions. d. They make it easier to connect with people who are difficult to reach.

d

_____ is the ability to perform a service dependably, accurately, and consistently. a. Heterogeneity b. Perishability c. Tangibility d. Reliability

d

In the context of marketing research, which of the following is a difference between primary data and secondary data? a. Unlike secondary data, primary data are data that have been previously collected. b. Unlike secondary data, primary data can address almost any marketing question. c. Unlike secondary data, primary data are available to all interested parties for free. d. Unlike secondary data, primary data are inexpensive, and they save time and money.

b

Marketing mixes are designed, implemented, and maintained with the prime intention of a. identifying a target market for a company's products. b. bringing about a mutually satisfying exchange relationship with a market. c. estimating the potential cost of market cannibalization. d. selecting a niche market and targeting products solely at its members.

b

_____ is the most critical element in successful strategic planning. a. Continual attention b. Management commitment c. Creativity d. Strategic dissonance

b

A house cleaning company, Speedy Clean, has identified three possible market segments for their services. To evaluate if the segments will be successful, Speedy Clean should determine if each segment is: (Check all that apply) a. perceptive. b. accessible. c. identifiable and measurable. d. responsive.

b, c, d

A _____ is a publicly accessible web page that functions as an interactive journal, whereby readers can post comments on an author's entries. a. diary b. chat room c. blog d. record

c

A _____ is referred to as the driving force that causes a person to take action to satisfy specific needs. a. value b. norm c. motive d. belief

c

In the context of a sales orientation, which of the following statements is true of marketing? a. Marketing is concerned with customer wants and needs while meeting organizational objectives. b. Marketing is concerned with achieving customer satisfaction using minimal advertising. c. Marketing is concerned with selling things and collecting money. d. Marketing is concerned with focusing on customer relationship management.

c

In the context of factors that affect consumer decision making, which of the following statements is true of cultural values? a. They are static and do not experience change. b. They are inherent rather than learned or acquired. c. They correspond to consumption patterns. d. They are exerted only as conscious decisions.

c

In the context of gathering primary data through survey research, which of the following is a disadvantage of telephone interviews? a. Central-location telephone facility used in the interviews consume a lot of time. b. Multiple locations need to be used when interviewing people nationwide. c. The cost of telephone interviews increases when respondents refuse to participate. d. The federal "Do Not Call" law applies to survey research.

c

In the context of marketing strategies, positioning assumes that a. there are only two positioning bases, price and quality. b. marketing costs of products are negligible because of mass production. c. consumers compare products on the basis of important features. d. the quality of competing products does not influence product positioning.

c

In the context of ownership arrangement, a chain store is a. a retail business where an operator is granted a license to sell a product under a larger brand name. b. a large discount store that specializes in a single line of merchandise and becomes the dominant retailer in its category. c. a group of retailers, of one or more brand names, owned and operated by a single organization. d. owned by a person or group and is not operated as part of a larger network.

c

M&N, a popular apparel brand, segments its products on the basis of price. It has a line of high-end clothes targeted at fashionistas; a line of mid-range clothing suitable for middle classes; and a line of cheap, durable clothing that caters to college students. It has segmented its market in this way so that everyone is able to afford its products. In the given scenario, M&N most likely uses _____. a. age segmentation b. gender segmentation c. income segmentation d. family life segmentation

c

One of the reasons for new-product failures is that the products a. are promoted continuously at regular intervals. b. are test marketed in locations isolated from the media. c. offer no discernible benefits compared to existing products. d. do not match their features with the competitors' products.

c

Opula Inc. is a company that designs jewelry. It needs secondary data to know its customers' preferred jewelry patterns. In this scenario, which of the following secondary data can Opula Inc. obtain from within the firm? a. Summaries of income data of all jewelry businesses compiled by the state and federal agencies b. Data published by trade associations dealing with the recent jewelry market strategies c. Social media posts entered by Opula's customers on its trending jewelry designs d. Articles published in reputed business magazines about Opula's profit margins

c

Tech Solutions, a major information technology firm in Washington, has turned over its logistical functions of warehousing and transportation to GoFirst, a logistics company in Vietnam. This has been done to reduce costs as Vietnam has lower labor costs than Washington. According to this scenario, Tech Solutions is an example of a company that uses _____. a. insourcing b. nearshoring c. offshoring d. backsourcing

c

The exclusive right to use a brand or part of a brand is known as _____. a. brand equity b. a blueprint c. a trademark d. a service mark

c

Which of the following is a variable cost? a. Executives' salaries b. Insurance for employees c. The cost of raw materials d. Rent for office spaces

c

Which of the following is not one of the main areas that service distribution must focus on? a. Minimizing wait times b. Improving service delivery c. Increasing profitability through customer service d. Managing service capacity

c

Which of the following statements is true of an organization's service mix? a. It requires a uniform level of financial support across different services offered by the organization. b. It should make a similar contribution from each part to achieve the organization's goals. c. It represents a set of opportunities, risks, and challenges. d. It specifies that the organization should market only a single service.

c

Which of the following statements is true of strategic business units (SBUs)? a. They are devoid of distinct missions. b. They lack specific target markets. c. They require their own strategies and funding. d. They do not have control over their own resources.

c

Which of the following is an example of a promotion? (Check all that apply) a. Oreo creates a new seasonal flavor for its sandwich cookies. b. A coupon for $1.00 off Crest's new teeth whitening strips. c. A commercial that illustrates how consumers can use Amazon's Echo Dot. d. Nike's plan to open a new retail store in Chicago.

b, c

A production orientation philosophy a. does not consider whether the goods and services that a firm produces most efficiently meet the needs of the marketplace. b. overlooks the internal capabilities of an organization. c. is based on the belief that people will buy more goods and services if aggressive sales techniques are used irrespective of their needs. d. does not apply to services.

a

African Americans in the United States a. are more likely to patronize convenience, drug, and dollar stores than other groups. b. are inclined to spend less on groceries and hair care products as compared to other cohorts. c. acculturate into mainstream America forgetting their cultural heritage. d. comprise the largest percentage of population among different minority groups in the United States.

a

All of the following factors directly influence consumers' level of involvement in the purchase process EXCEPT: a. consumer's age b. financial risk associated with the product c. social visibility of the purchased item d. previous experience with the product e. perceived risk of negative consequences as a result of the purchase

a

Clear Channel owns hundreds of radio stations across the U.S. How do they decide what kind of music to play on a particular station? a. Demographic b. Psychographic c. Usage d. Benefits e. Geographic

a

Which of the following statements is true of the customer service management process? a. It presents a multi-company, unified response system to customers whenever complaints, concerns, questions, or comments are voiced. b. It develops management practices that are consistent with a ''systems thinking'' approach. c. It enables companies to prioritize their marketing focus on different customer groups according to each group's long-term value to the company or supply chain. d. It occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are seamlessly linked to one another.

a

A major implication of the diffusion process to marketing managers is that a. messages developed for and targeted toward early adopters may be perceived similarly by the late majority. b. the targeted adopter and media may need to shift based on how various categories of adopters gather product information. c. managers may need to restrict themselves to one new product idea to develop successful products. d. it weakens the notion that many new product ideas are necessary to produce a continuous flow of successful new products.

b

In the context of the new-product development process, preliminary figures for demand, cost, sales, and profitability are calculated in the _____ stage. a. idea screening b. business analysis c. concept testing d. test marketing

b

Public relations' greatest impact is as a method of a. reminding customers about a company, good, or service. b. gaining attention for a company, good, or service. c. motivating customers to take action and make a purchase. d. creating awareness of and interest in a product.

b

Sammy's Soups markets just one product: canned soup. However, it markets 27 different varieties of canned soup. Based on this information, it is evident that Sammy's Soups has a a. narrow product line and a wide product mix. b. deep product line but a narrow product mix. c. narrow product line but a deep product mix. d. broad product line and a wide product mix.

b

Unlike internal information search, external information search a. is done during the need recognition stage. b. seeks information from nonmarketing- and marketing-controlled sources. c. stems largely from a person's previous experience with a product. d. involves recalling information stored in a person's memory.

b

A marketing concept includes a. stressing the use of aggressive promotional strategies to sell products. b. emphasizing internal production capabilities over customer needs. c. distinguishing a firm's products from its competitors' offerings. d. prioritizing a firm's short-term sales goals over its long-term goals.

c

A statement of what is to be accomplished through marketing activities is called _____. a. portfolio matrix b. a marketing technique c. a marketing objective d. scenario planning

c

A(n) _____ identifies a reason for a person to buy a product. a. trade allowance b. advocacy advertisement c. advertising appeal d. media schedule

c

A(n) _____ is a period of economic activity characterized by negative growth. a. inflation b. stagflation c. recession d. income boom

c

In the context of trends in supply chain management, _____ to locations such as Mexico or the Caribbean nations ensures low costs while reducing supply chain risk. a. contracting b. offshoring c. nearshoring d. outsourcing

c

Jeremy was watching news. The news featured the suspected malicious practices that were occurring in Jeremy's favorite shopping mall. When he wanted to share the news with his friend, he could not remember some of the activities featured on the news. This is an example of _____. a. subliminal perception b. selective distortion c. selective retention d. stimulus generalization

c

Maria is very empathetic toward animals. So, she only buys cosmetic products that explicitly claim that they have not been tested on animals. In this case, Maria's buying decision is based on _____. a. ethical fallacies b. confirmation biases c. values d. aesthetics

c

Marketers affect consumers' motivation to learn about, shop for, and buy a certain brand by a. encouraging the practice of showrooming. b. using standardized marketing techniques across different segments of consumers. c. influencing the degree to which consumers perceive a good or service to be self-relevant. d. reducing consumer involvement while shopping for products.

c

Serendipity, a casual dining restaurant in New York, employs disabled people as part of its staff. Besides this, it uses utensils made from recyclable paper. Serendipity engages in such activities to reduce operational costs and to protect the environment. This scenario is an example of a. the customer service management process. b. the demand management process. c. sustainable supply chain management. d. mass customization.

c

To provide insights into the needs and wants of divorced parents, lifelong singles, and childless couples, marketers should be aware of _____. a. aspirational groups b. opinion leaders c. nontraditional life cycles d. primary reference groups

c

Which of the following statements refers to the target market strategy? a. Target markets should not be selected by appealing to multiple market segments. b. Managers should develop target market objectives that exceed the company's ability to achieve them. c. Target markets can be selected by appealing to the entire market with one marketing mix. d. Objectives can be inconsistent as long as they summarize the target market strategy.

c

_____ are people born between 1979 and 1994. a. Generation X b. The Baby Boomer generation c. Generation Y d. The silent generation

c

A _____ confirms the quality or performance of a good or service. a. bar code b. persuasive label c. blueprint d. warranty

d

A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups is called _____. a. consumer sales promotion b. customer value framework c. consumer market penetration d. customer relationship management

d

Ben, a working professional, buys a car to travel to work every day. In this case, the car is an example of a(n) _____. a. business product b. intermediate product c. industrial product d. consumer product

d

Demand for a product will be more elastic if a. the product cannot be repaired. b. the product has only one use. c. consumers are insensitive to an increase or a decrease in price. d. many substitute products are available in the market.

d

Kohls utilizes ______, when a customer drives by their store, they receive a text message with a code for a percentage off in store. a. RFID technology b. big data analytics c. facial recognition d. beacons

d

The company that owns Tulips Nation, a famous national clothing brand, is planning to market and sell its products worldwide. After some deliberation, the management decided to retain its brand name across international markets as well. The strategy adopted by Tulips Nation is an example of a(n) _____. a. co-branding strategy b. individual branding strategy c. same-brand strategy d. one-brand-name strategy

d

To help understand why attendance at the team's games was so poor, the Atlanta Falcons used marketing research to gather factual information. The organization used in-game surveys and end-of-season surveys of ticket holders. The gathering of factual statements is an example of marketing research in its _____ role. a. normative b. historical c. predictive d. descriptive e. objective

d

Which of the following is the first task in developing a retail strategy? a. Deciding the promotion strategy b. Selecting the store location c. Choosing the product assortment d. Defining the target market

d

Which of the following statements about yield management systems (YMS) is true? a. YMS eliminate the problem of simultaneous production and consumption from services. b. YMS cannot be used by any other businesses but services. c. The first use of YMS was in the U.S. car industry as it looked for ways to compete with imports. d. YMS are mathematically complex systems to make use of underutilized capacity and reduce the cost of perishability. e. YMS are complex pricing systems used to set equilibrium pricing points.

d

Which of the following statements is true of a rebate? a. It typically discourages or blocks competitors from entering a market. b. It enables purchasers to borrow money to pay for new products with no interest charge. c. It can be enjoyed by purchasers all year round. d. It is a temporary inducement that can be taken away without altering the basic price structure.

d

Which of the following statements is true of dynamic pricing? a. It prices a firm's products largely or solely on the basis of costs and ignores demand. b. It prices products based on markup pricing. c. It is based on the idea that products or services do not expire at any point of time. d. It helps brick-and-mortar stores compete with online alternatives.

d

Which of the following statements is true of informational labeling? a. It uses words such as "new," "improved," and "super" as these are extremely persuasive. b. It focuses on a promotional theme or logo, and consumer information is secondary. c. It increases consumers' cognitive dissonance after a purchase. d. It helps consumers make proper product selections from a variety of choices.

d

Which of the following statements is true of the external marketing environment? a. A target market is shaped without considering consumer preferences. b. A marketing mix should not involve any further changes once it has been prepared. c. A target market is determined from a preestablished marketing mix. d. A marketing mix is designed to appeal to a specific group of potential buyers.

d

Which of the following types of co-branding has advertised or marketed products together to suggest usage? a. Captive branding b. Cooperative branding c. Ingredient branding d. Complementary branding

d

A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its ability to communicate value, its pricing policy, and the distribution strategy. These activities are all a part of: a. a control system. b. accounting. c. production. d. human resources. e. marketing.

e

_____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits. a. Marketing utility b. Satisfaction percentage c. Market quality d. Opportunity cost e. Customer value

e

Willingness to pay is a way to measure demand elasticity. True False

true

The goal of strategic planning is to a. create daily operational schedules for first-line workers. b. achieve long-run profitability and growth. c. create major change in the external environment. d. describe and define the structure of a business.

b

According to Maslow's hierarchy of needs, which of the following needs is a social need? a. Sense of belonging b. Shelter c. Sense of accomplishment d. Security

a

The _____ is the way an individual would like to be perceived. a. ideal self-image b. lifestyle c. real self-image d. personality

a

The most popular method for gathering primary data is _____, in which a researcher interacts with people to obtain facts, opinions, and attitudes. a. experiments b. single-source research c. observation research d. survey research e. heuristic oriented

d

_____ is any form of impersonal paid communication in which the sponsor or company is identified. a. Direct selling b. Relationship selling c. Public relations d. Advertising

d

In the context of business relationships in Japan, which of the following best describes a keiretsu? a. It is a group of companies that only use natural resources as their primary source of energy. b. It is a group of companies that do not have subsidiaries in foreign countries. c. It is a legal consolidation of companies into a single entity. d. It is a network of interlocking corporate affiliates.

d

In the context of competitive factors in the external business environment, which of the following statements is true? a. Competition is irrelevant to businesses in the field of technology. b. Global competition has been decreasing drastically. c. Marketers are now required to concentrate only on domestic competitors. d. The availability of resources for businesses has declined.

d

In the context of retailing decisions for services, which of the following statements is most likely to be associated with improving service delivery? a. Service firms find it necessary to standardize their quality across different geographic regions to maintain their brand image. b. If service firms don't have the capacity to meet demand, they must turn down some prospective customers. c. Minimizing the amount of time customers wait in line is a key factor in maintaining the quality of service. d. Choosing the right distribution channel can increase the times that services are available or add to customer convenience.

d

Selma wants to buy a budget smartphone with good features. However, she cannot decide which one to buy. She asks her coworkers for their advice. In this scenario, Selma's buying decision is likely to be influenced by a(n) _____. a. secondary membership group b. nonaspirational reference group c. aspirational reference group d. primary membership group

d

The first stage in creating an effective social media plan is to _____. a. identify the target audience b. define strategies c. select tools and platforms d. listen to customers

d

In the context of research and development, which of the following is true of product development? a. It converts applications into marketable products. b. It makes cosmetic or functional changes to an existing product. c. It traces the stages of a product's acceptance, from its introduction to its decline. d. It analyzes a brand, a product form, or a product category.

a

Jessica orders a travel bag on Stylista.com and collects the bag on the same day by driving to the closest physical Stylista store. In this scenario, the website Stylista uses a. a click-and-collect strategy. b. shopper marketing. c. microtargeting. d. a retail channel omnification strategy.

a

Jessica wants to buy a tube of lipstick on her way to a party. She finds that all the lipsticks at the outlet she stops at are priced higher than in other outlets. However, she buys a tube as it was the only outlet on her way. This scenario illustrates an effective _____. a. distribution network b. rebate c. shopping bot d. trade allowance

a

Revenue minus expenses equals _____. a. profit b. interest c. tax d. dividend

a

Social media differ from traditional marketing media in that social media _____. a. offer more one-to-one ways to meet consumers than traditional marketing media b. lack the element of participation or relationship building with customers c. enable marketers to control the content on social media sites d. are less effective than traditional media in measuring how marketers meet and interact with consumers

a

Statements like: "Call now!" and "For a limited time only!" would be common during which stage of the AIDA model? a. Action b. Attention c. Desire d. Interest

a

The management of CranCos Inc., a food and beverage manufacturer, decides to change the company's logo. For this purpose, it creates a website where customers can discuss and share their ideas. It chooses a group of loyal customers to send in their opinions on what colors should be used for the logo. In this scenario, CranCos Inc. is using a(n) _____ to conduct its survey. a. web community b. offline survey system c. online focus group d. virtual panel provider

a

The rate of acceptance and diffusion of a new product will be faster when the a. benefits of using the product can be observed by others. b. product can be tried only on a limited basis. c. product is different from existing values. d. product is complex to understand and use.

a

When you dine at a restaurant and order a hamburger, the implied warranty could be: a. that it is edible. b. that your complete satisfaction is guaranteed. c. that it comes with the toppings described on the menu. d. that it is made with 100% grass-fed beef, as stated on the menu.

a

Which of the following factors leads to a product/service differentiation competitive advantage? a. Providing product with uniqueness b. Removing frills from products and services c. Incurring high overhead costs d. Providing low-quality products

a

Sarto Corp. follows the six stages involved in creating an effective social media plan to advertise the business solutions offered by the company. After launching the campaign, the marketing team at Sarto Corp. goes back to the first stage of the process. Which of the following is the most likely reason for going back to this stage? a. To examine trends and best practices in the industry b. To interpret how customers are perceiving the campaign c. To ensure that the campaign is fluid d. To select the social media tools for the campaign

b

Unlike private-sector service organizations, nonprofit organizations a. market short-term, tangible products. b. offer indirect benefits or benefits that are quite weak. c. distribute their profits to stakeholders. d. use commercial advertisements for promotion.

b

Unlike profit maximization, satisfactory profits a. might be high in a low-risk industry and low in a high-risk industry. b. strive for a level of profits consistent with the level of risk an organization faces. c. involve setting prices so that total revenue is as large as possible relative to total costs. d. depend on the competitive environment a firm faces.

b

Which of the following statements is true of opinion leaders? a. They can easily span multiple diverse domains. b. They are the most influential and informed members of society. c. They demand that people must conform to certain norms of a particular group. d. They cannot be created by marketers to promote products.

b

Which of the following statements is true of owned media? a. It is the word of mouth or online buzz about something a brand is doing. b. It constitutes the presence of a brand on a social media network. c. It boosts the declining demand for newspapers and magazines. d. It involves media that spread information face-to-face rather than online.

b

Which of the following statements is true of packaging? a. It groups products of similar characteristics and functions produced by different manufacturers. b. It holds contents together and protects goods as they move through the distribution channel. c. It restricts manufacturers from marketing products in specific quantities, such as ounces. d. It increases cognitive dissonance of consumers after product purchase.

b

Which of the following strategies should a company adopt to stimulate innovation? a. Refraining from conducting basic research b. Talking to early adopters c. Limiting research to areas that they are already familiar with d. Discouraging employees from pursuing their personal projects

b

_____ is a component of service quality that involves caring for and giving individualized attention to customers. a. Assurance b. Empathy c. Reliability d. Responsiveness

b

_____ is used to build and maintain brand loyalty during the growth stage of the product life cycle. a. Connective promotion b. Persuasive promotion c. Reminder promotion d. Informative promotion

b

_____ prohibit wholesalers and retailers from selling below cost. a. Usury laws b. Unfair trade practice acts c. Antitrust statutes d. Federal impeachment laws

b

_____ is a psychographic segmentation variable that reflects a person's traits, attitudes, and habits. a. Gender b. Motive c. Personality d. Lifestyle

c

A consumer's information search should yield a group of brands, sometimes called the buyer's _____ set, which are the consumer's most preferred alternatives. a. evoked b. intersection c. union d. equivalence

a

A difference between a consumer product and a business product is that, unlike a business product, a consumer product is a. bought to satisfy an individual's personal wants. b. used to manufacture business goods or services. c. used to facilitate an organization's operations. d. resold to other consumers.

a

A specialty retailer of imported furniture a. Weekly design and printing needs, purchase decisions may be made by a marketing professional b. High-end design and inexpensive printing needs, purchase decisions made by owner c. Simple printing needs, purchase decisions made by owner who is price sensitive d. Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

a

A specific version of a product that can be designated as a distinct offering among an organization's products is called a _____. a. product item b. brand loyalty c. service mark d. brand equity

a

A swimming pool company a. Weekly design and printing needs, purchase decisions may be made by a marketing professional b. High-end design and inexpensive printing needs, purchase decisions made by owner c. Simple printing needs, purchase decisions made by owner who is price sensitive d. Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

a

A(n) _____ identifies the specific communication task that a campaign should accomplish for a specified target audience during a specified period. a. advertising objective b. unique selling proposition c. demonstration d. advertising appeal

a

A(n) _____ is a private electronic network that links a company with its suppliers and customers. a. extranet b. filesystem c. cloud collaboration d. yield management system

a

A(n) _____is a series of related ads focusing on a common theme, slogan, and set of advertising appeals. a. advertising campaign b. advertising protocol c. media mix d. unique selling proposition

a

According to Ansoff's strategic opportunity matrix, _____ means attracting new customers to existing products. a. market development b. product development c. diversification d. market penetration

a

According to Maslow's hierarchy of needs theory, physiological needs should be satisfied first because they a. are essential to a person's survival. b. tend to attract marketers more than any other needs. c. are the highest human needs. d. include a sense of love and belonging.

a

Aphroditera Inc., a company that manufactures beauty products, follows the philosophy of sales orientation. In this case, the workforce of Aphroditera Inc. is likely to a. be inward looking, focusing on selling what the firm makes. b. focus on determining the needs of its customers and designing a sales strategy accordingly. c. refrain from aggressive marketing and promotional measures. d. put extensive efforts in customer relationship management.

a

Brandon is planning to buy a new house. He visits Reardon & Matthews, a professional real estate agency, to find a house within his budget. In this case, Brandon is relying on a(n) _____. a. secondary membership group b. primary membership group c. aspirational reference group d. nonaspirational reference group

a

Cheryl's Cookies has decided to create a charity that ships cookies to soldiers stationed in Syria. The soldiers could request the cookies through a mobile app and the orders would be paid for through donations. Because of the difficulty in communicating with people in a war zone, Cheryl's may have trouble with this segment not being: a. accessible. b. substantial. c. responsive. d. measurable.

a

For a long time, baking soda was used only as a cooking ingredient. Recently, Nails & Hammer Co., a construction firm, began marketing baking soda as an odor absorbent. The company promoted its use in absorbing odors in homes. In this scenario, which of the following categories of new products does baking soda belong to? a. Repositioned products b. New-to-the-world products c. Lower-priced products d. Existing products

a

Hebron organizes theatrical performances in his neighborhood every weekend and also holds training classes for those who are interested in theater and performance arts. In the context of product strategy, Hebron offers services that belong to the category of _____. a. mental stimulus processing b. people processing c. information processing d. possession processing

a

In a(n) _____ information search, a person recalls information stored in the memory. a. internal b. marketing-controlled c. nonmarketing-controlled d. external

a

In the context of relationship marketing, which of the following statements is true of level 2? a. It seeks to build social bonds with customers by staying in touch with them. b. It aids customer loyalty through the development of one-to-one solutions to fit customers' needs. c. It encourages customer loyalty through intimate knowledge of individual customers. d. It uses only pricing incentives to encourage customers to continue doing business with a firm.

a

In the context of service processes, which of the following is true of possession processing? a. It occurs when services are directed at customers' physical belongings. b. It describes services that use brainpower directed at a customer's assets. c. It refers to services that are directed at people's minds. d. It takes place when a service is directed at a customer.

a

In the context of social networks, which of the following statements is true of LinkedIn? a. It is used primarily by professionals who wish to build their personal brands online. b. It allows consumers to post, read, rate, and comment on all kinds of products and services. c. It is designed to be multimedia-rich rather than information-rich. d. It is primarily used to upload, comment, or share videos and images with friends and relatives.

a

In the context of the AIDA (attention, interest, desire, and action) model, a marketing message can arouse the desire of consumers by a. illustrating how the product will satisfy their needs. b. creating interest in the product. c. gaining their attention. d. motivating them to make a purchase.

a

In the context of the consumer decision journey, _____ streamlines journey steps. a. automation b. involvement c. contextual interaction d. proactive personalization

a

In the context of the customer relationship management cycle, which of the following statements is true of big data analytics? a. They compile actionable data about the purchase habits of customers. b. They identify competitors' customers. c. They leverage customer information. d. They gather information about customers who are no longer loyal to a brand.

a

In thinking about target markets for nonprofit organizations, which of the following is true? a. Customers in a nonprofit's target market may be reluctant or strongly opposed to receiving their services. b. The target markets of nonprofit organizations are generally difficult to reach. c. Nonprofit organizations segment their target markets by demographics only, making income the main factor in their marketing efforts. d. Nonprofit organizations must compete against for-profit organizations for a target market's attention.

a

Jacob visits an auto repair shop. Due to the decrease in the value of money, he learns that a spark plug would cost him 15 percent more than what he had paid for last year. In this case, Jacob has to pay more as a result of _____. a. inflation b. technological lockout c. technological advancement d. recession

a

Jurian Inc. and Gren Inc. are the only two companies that sell electronic components to large manufacturers of home appliances in a town. Managers from these two companies meet over dinner and agree on the prices they will charge for their products. These prices are 8 percent higher than what manufacturers would usually pay for the components. This illegal practice illustrates _____. a. price fixing b. penetration pricing c. status quo pricing d. price skimming

a

Ken, a talented musician, often uses YouTube to share video recordings of the songs he composes. He also blogs about musical styles across various countries. In this case, Ken comes under the category of _____. a. creators b. collectors c. inactives d. spectators

a

Nestlé's quest is to make some of its existing products more nutritious and provide a health benefit. This is an example of which type of product modification? a. Functional b. Brand c. Extension d. Ingredient e. Style

a

Normally, the longest stage of the product life cycle is the _____. a. maturity stage b. introductory stage c. decline stage d. growth stage

a

Nutty Chunk is a well-known chocolate brand. Before developing the details of the marketing plan, the managers of the company need to frame the marketing objective. In this case, which of the following can be considered a strong marketing objective? a. To increase the sales of Nutty Chunk bars by 5 percent compared to the previous year's sales within a year b. To make the best Nutty Chunk bars possible and invest heavily in various promotional strategies c. To increase the sales of Nutty Chunk bars to $100 million d. To increase the market share of Nutty Chunk bars

a

Ortiz Inc., a nutritional drinks manufacturer, is perceived by many consumers as a producer of nutritional drinks meant only for children. In order to change this perception, Ortiz Inc. makes a few changes to its drinks and promotes them through television commercials featuring people of all age groups. This effectively changes people's opinion of Ortiz Inc.'s nutritional drinks, and the company's customer base increases. In this scenario, which of the following strategies does Ortiz Inc. use? a. Repositioning b. Licensing c. Geographic segmentation d. Perceptual mapping

a

Reachall is a web page that allows its users to post messages through their registered accounts. They can post pictures, short videos, and text that do not exceed 200 characters. In this case, Reachall is a _____. a. microblog b. social news site c. review site d. social bookmarking site

a

Richard wanted to buy a new video game. He visited three different video game stores and found one video game that he liked a lot. However, he did not buy it. Instead, he bought a digital copy of the same game at a discounted price from the game's website. Richard's shopping involvement is an example of _____. a. showrooming b. window shopping c. webrooming d. store checking

a

School Time, a stationery manufacturing company, has decided to stop manufacturing paper from wood fiber. Instead, it has come up with a technology that creates paper from artificially developed cellulose. School Time has taken this step to mitigate any future environmental risks. This scenario is an example of a. sustainable supply chain management. b. mass customization. c. a drop and shop program. d. the demand management process.

a

Single Grain's online content marketing successfully attracted customers such as Amazon and Uber. This illustrates the two most important goals for B-to-B content marketers: a. lead generation and sales. b. creating and distributing valuable and consistent content. c. increasing engagement and targeting the right audience. d. customer targeting and increasing usage of hashtags.

a

The AIDA model could also be called : a. the think/feel/do model. b. the stop/look/listen model. c. the want/need/desire model. d. the inform/persuade/act model.

a

The Weston Candy Company is known for its inexpensive chocolates. To appeal to a more upscale market, it introduces a new line of premium chocolates that are made from the world's finest cocoa. This is an example of _____. a. quality modification b. product placement c. planned obsolescence d. functional modification

a

The decision to commercialize a product involves _____. a. building inventories b. concept testing c. discontinuous innovations d. additive manufacturing

a

The four major categories of business customers are: a. producers, resellers, governments, and institutions. b. producers, manufacturers, governments, and industries. c. manufacturers, resellers, industries, and institutions. d. manufacturers, suppliers, industries, and schools.

a

The process that enables companies to prioritize their marketing focus on different consumer groups according to each group's long-term value to the company or supply chain is known as the _____. a. customer relationship management process b. customer service management process c. demand management process d. manufacturing flow management process

a

The steps of the consumer decision-making process, in order, are: a. need positioning, stimulus response reactions, evaluation of alternatives, purchase decision, postpurchase evaluation b. need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior c. information search, need positioning, evaluation of alternatives, product trial, purchase decision, postpurchase satisfaction d. need positioning, alternative aggregation and divestment, purchase decision, postpurchase evaluation e. need recognition, alternative aggregation, reevaluation, purchase decision, postpurchase behavior

a

The study of people's vital statistics such as age, race and ethnicity, and location is known as _____. a. demography b. graphology c. deontology d. polygraphy

a

When a product enters its growth stage, _____. a. the available supply for the product increases as competitors enter the market b. the demand in the core of the target market tends to be relatively elastic c. the product is priced higher than in the introductory stage d. the price of the product begins to fluctuate

a

Which of the following is a benefit of competitive intelligence (CI)? a. It is an important tool for helping a firm overcome a competitor's advantage. b. It is used by companies to store and integrate customer data. c. It is similar to industrial espionage and is, therefore, inexpensive. d. It is a cheaper way of gathering intelligence.

a

Which of the following is a characteristic of early adopters? a. They are more oriented to the local community. b. They rely less on group norms and values. c. They are less eager to try new ideas. d. They are more influenced by global marketers.

a

Which of the following is a difference between institutional advertising and product advertising? a. Product advertising promotes the benefits of a specific good or service, whereas institutional advertising asks an audience to maintain a favorable attitude toward the advertiser. b. Product advertising focuses on reinforcing positive attitudes toward a brand, whereas the goal of institution advertising is to create demand for a specific commodity. c. Product advertising is an effective strategy for expressing views on controversial issues, whereas institutional advertising is effective in managing a crisis. d. Product advertising is used to change negative consumer attitudes toward existing brands, whereas institutional advertising is used stimulate primary demand for new commodities.

a

Which of the following is a difference between mass communication and interpersonal communication? a. Senders receive indirect feedback in mass communication, whereas they receive direct feedback in interpersonal communication. b. The reception level in mass communication is high, whereas it is low in interpersonal communication. c. Mass communication allows direct conversations with customers, whereas interpersonal communication does not allow direct conversations with customers. d. The noise level in mass communication is low, whereas it is high in interpersonal communication.

a

Which of the following is a disadvantage of rebates? a. Manufacturers may meet resistance when trying to restore the price to its original, higher level. b. Sellers suffer from bad debt due to carrying charges and billing expenses. c. They give zero-interest loans to purchasers, which cause huge losses for a seller. d. They cannot be taken away without altering the basic price structure.

a

Which of the following is a disadvantage of social media as a platform for marketing? a. Most marketers have not been able to figure out how to measure the benefits of social media. b. No metrics have been developed to measure social media's value. c. The content on social media flows one way, from brands to consumers. d. Social media do not use one of the most successful marketing techniques, word of mouth marketing.

a

Which of the following is the definition of marketing? a. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. b. The process of communicating through various print and online media in order to notify the public about a firm's goods and services. c. The methods employed by a firm to demonstrate to consumers a product or service's value. d. The practice of persuading or seeking to persuade a consumer or organization to purchase a product or service.

a

Which of the following is true in the context of foreign competition in the U.S. market? a. Foreign firms in U.S. markets now focus on product quality rather than price. b. Many foreign competitors do not consider the United States an attractive target market. c. Competition from foreign firms is very weak in the television industry. d. Competition from foreign firms in the United States is limited to the textile industry.

a

Which of the following is true of a concept test? a. It is considered a fairly good predictor of success for line extensions. b. It is often used at the development stage to rate product alternatives. c. It is used to evaluate new products after their prototypes have been created. d. It is accurate in predicting the success of new products that create new consumption patterns.

a

Which of the following is true of supply chain management? a. It seeks to increase efficiencies at each level in the upstream and downstream flow of products and services. b. It focuses on "pushing" products down the marketing channels to consumers. c. It reflects a completely employee-driven management philosophy. d. It gives assembly line employees "total visibility and control" of materials, processes, money, and finished products.

a

Which of the following statements is true of a service? a. It involves a deed, a performance, or an effort that cannot be physically possessed. b. It is highly standardized and uniform. c. It is easy to evaluate the quality of a service. d. It needs a different marketing process than the one used for goods.

a

Which of the following statements is true of mobile marketing? a. Visual advertisements are integrated into text messages, applications, and mobile websites. b. An upsurge in the use of smartphones has caused adverse effects on social media marketing. c. Mobile marketing's response rate is lower than that of traditional media types. d. Barriers to mobile marketing have been lowered by undoing standardization of mobile platforms.

a

Which of the following statements is true of persuasive labeling? a. It focuses on a promotional theme or logo of a product or brand. b. It aims to help customers make proper product selections and lower their cognitive dissonance after a purchase. c. It gives an impression about a product being environment friendly. d. It details nutritional information and standards for health claims to educate customers.

a

Which of the following statements is true of producers? a. They use purchased goods and services to incorporate into other products. b. They account for the greatest volume of purchases of any business category. c. They seek to achieve goals other than the standard business goals of profit. d. They buy business products and resell them to business customers.

a

Which of the following statements is true of the business analysis stage of the new-product development process? a. For the first time, costs and revenues are estimated and compared. b. Established products are test marketed to assess new marketing strategies. c. The firm should start sketching a marketing strategy. d. Objective evaluation of ideas is postponed.

a

Which of the following statements is true of the consumer decision journey? a. An advertisement causes a consumer to research a number of products or services. b. Reviews from peers, retailers, and competitors are considered only after purchasing a product. c. A consumer is unlikely to drop a number of items from the potential purchase set. d. Addition of new products takes place in the beginning of the consumer decision journey.

a

Which of the following statements is true of the integrated marketing communications concept? a. It focuses on the careful coordination of all promotional messages for a product or service to maintain the consistency of messages. b. It increases the rift between personal selling and the other elements of the promotional mix. c. It allows each element of the promotional mix to convey a different message about a product to the target market. d. It helps consumers distinguish between the five elements of the promotional mix in an advertisement.

a

Which of the following statements is true of the multiplier effect? a. It produces highly fluctuating demand for business products. b. It happens when there is inelastic demand. c. It leads to little or no change in facilities and equipment of businesses that produce consumer products. d. It happens because business demand is more stable than the demand for consumer products.

a

Which of the following strategies can help businesses foster innovation? a. Hiring employees with high risk tolerance b. Curbing research activities c. Using micromanagement techniques d. Telling employees that they must fear innovation failure

a

With a(n) _____ targeting strategy, a firm selects a market niche for targeting its marketing efforts. a. concentrated b. undifferentiated c. multisegment d. universal

a

You've just joined a marketing and sales fraternity on campus. At your first meeting you met Robert, who is also a huge Green Bay Packers fan. Robert suggests you get together to watch the game the on Sunday. You ask for Robert's cell phone number and he replies that he doesn't own a cell phone. Robert is likely: a. a laggard. b. an early adopter. c. a late adopter. d. an innovator.

a

_____ demand occurs when two or more items are used together in a final product. a. Joint b. Inelastic c. Elastic d. Fluctuating

a

_____ is defined as the reduction of multiple retail channel systems into a single, unified system for the purpose of creating efficiencies or saving costs. a. Retail channel omnification b. Microtargeting c. Nonstore retailing d. Retail channel distribution

a

_____ is that which is given up in an exchange to acquire a good or service. a. Price b. Value c. Revenue d. Cost

a

_____ specifies the research questions to be answered, how and when the data will be gathered, and how the data will be analyzed. a. The research design b. The research collaborative plan c. The sampling plan d. An autonomous director e. A secondary data use plan

a

_____ was the first generation of latchkey children—products of dual-career households or, in roughly half of the cases, of divorced or separated parents. a. Generation X b. Generation Y c. Generation Z d. Baby Boom generation

a

_____-oriented pricing is a price strategy that involves varying the price of a service with different market segments' ability to pay. a. Patronage b. Market c. Revenue d. Operations

a

A group of people or organizations is considered a market only if the people or organizations a. have the ability to change purchasing behavior based on advertisements. b. have the willingness to exchange resources for desired products. c. lack needs that can be satisfied by particular product categories. d. can sustain solely on government funds and subsidiaries.

b

Aleesha refuses to buy any toothpaste other than her preferred brand, Blassey, manufactured by Blassey's Inc. If Blassey's toothpaste is not available in her neighborhood store, she drives to another store rather than buying a different brand. Based on this information, which of the following statements is true? a. Blassey's Inc. lacks individuality. b. Aleesha has strong brand loyalty toward Blassey's Inc. c. Aleesha only buys products from convenience stores. d. Blassey's Inc. has benefitted from planned obsolescence.

b

Cakes and Flowers, a local café, sends out hand-written greeting cards along with a box of cupcakes to all its loyal customers during Christmas week. In this case, Cakes and Flowers is evidently implementing _____. a. content marketing b. relationship marketing c. alliance marketing d. cloud marketing

b

In a marketing environment, which of the following statements is true of a crisis management? a. Managing publicity in a crisis situation is easy. b. It involves responding to negative event placement. c. It involves offering seminars on money management. d. Spending large money on advertisements prevents crisis.

b

In order to proactively handle service recovery, a firm should a. be ambiguous when certain products are not available. b. notify customers in advance of stockouts. c. implement a no-exchange policy. d. restrict product recall if a product fails.

b

In the context of a marketing research project, which of the following statements is true of secondary data? a. They are not used in the problem identification stage of a market research. b. They can be obtained from sources within a company and outside the company. c. They refer to the data collected for a specific market research purpose at hand. d. They cannot be used for comparisons with other forms of data.

b

In the context of adopters who participate in diffusion, which of the following statements is true of innovators? a. They tend to be suspicious of new products and alienated from a rapidly advancing society. b. They are worldly and active outside their community than other categories. c. They are characterized as being deliberate and skeptical. d. They have the longest adoption time and the lowest socioeconomic status.

b

In the context of advertising media, which of the following statements is true of infomercials? a. They are suitable for magazine advertising. b. They are the ideal way to present complicated messages to potential customers. c. They are more expensive to produce and air than commercial spots. d. They are short and less than 10 minutes.

b

In the context of consumer involvement, limited decision making typically occurs when a consumer a. buys a brand first and evaluates its quality later. b. has previous product experience but is unfamiliar with the current brands available. c. buys an unfamiliar, expensive product or an infrequently bought item. d. expends high effort in searching for information or in considering various alternatives.

b

In the context of economic factors, which of the following statements is true of disposable income? a. It refers to the income that is spent on living expenses. b. It refers to the income available after paying taxes. c. It increases when inflation rates increase. d. It rarely affects the quality of an individual's lifestyle.

b

In the context of marketing research, the research design specifies a. which tools will be deployed to implement the research results. b. which research questions must be answered. c. the list of government agencies to be approached to seek approval. d. how the funding for a research process should be attained.

b

In the context of marketing research, which of the following is a difference between traditional surveys and Internet surveys? a. Traditional surveys have high response rates, whereas Internet surveys have a low response rates. b. Traditional surveys are labor-intensive, whereas Internet surveys do not involve labor. c. Traditional surveys speed up the response process, whereas Internet surveys slow it down. d. Traditional surveys can grow in volume with little expenditure, whereas Internet surveys are expensive.

b

In the context of marketing research, which of the following is a disadvantage of secondary data? a. They are often too detailed and redundant. b. Sources of secondary data may not give detailed information to assess their quality or relevance. c. They contain irrelevant information that cannot be used for comparative studies. d. Sources of secondary data consume a lot of time and money when they help in solving a researcher's problem.

b

In the context of new-product ideas, _____ goes beyond applied research by converting applications into marketable products. a. simulated market test b. product development c. concept testing d. product modification

b

In the context of the economic environment in the United States, which of the following statements is true of consumers' incomes? a. The median household income is the same across all the states. b. Average U.S. incomes have fallen in the recent years. c. Ethnicity is the primary determinant of a person's earning potential. d. A single marketing mix is adopted toward people with different incomes.

b

In the context of the relationship between businesses and governments, which of the following statements is true? a. Governments do not benefit from private business firms. b. The marketing mix is dependent on government regulation. c. Private businesses are not required to comply with government rules. d. Businesses do not require government regulation to operate efficiently.

b

In the context of the strategies for selecting target markets, a firm that chooses to serve two or more well-defined market segments and develops a distinct marketing mix for each has a(n) _____. a. undifferentiated targeting strategy b. multisegment targeting strategy c. universal targeting strategy d. concentrated targeting strategy

b

In the context of use of secondary data in marketing research, which of the following statements is true of big data? a. It is the information collected for the first time to solve a research-oriented problem. b. It is the exponential growth in the volume, variety, and velocity of information. c. It refers to data sets that are formed when data analysis is quantitative in nature. d. It is the revival of simple, conventional tools to analyze and create meaning from accumulated data.

b

In the gap model of service quality, the gap between what a company provides and what a customer is told the company provides may include a. the inability of management to translate the customer's needs into delivery systems within the firm. b. misleading or deceptive advertising campaigns promising more than the firm can deliver. c. a lack of understanding or a misinterpretation of the customer's needs, wants, or desires. d. the inability of management and employees to do what should be done.

b

In the product development process, _____ eliminates ideas that are inconsistent with an organization's new-product strategy or are obviously inappropriate for some other reason. a. test marketing b. screening c. business analysis d. brainstorming

b

Individualism, one of America's core values, asserts that a. every person should stand on his or her own two feet. b. each person is unique and special in their own way. c. no one should be treated differently from anybody else. d. individuals should exercise their rights to frugality.

b

Laelle Corp. is a fashion apparel store. The manager of the store encourages his employees to come up with new dress designs every month. The employees are told that they have to present the designs without the hesitation of failure. The creator of the best dress is rewarded. Which of the following approaches is used by Laelle Corp.? a. Catering to entrepreneurs b. Creating an innovative environment c. Enlisting the Web d. Talking to early adopters

b

Laelle Corp., a multinational company conducts a session on workplace issues such as gender discrimination, sexual harassment, and racism. Given this information, the session will most likely train the employees on _____. a. pricing decision b. business ethics c. quality improvement d. expansion criteria

b

Magnira Inc., a cosmetics brand, wants to understand its customers better by interacting with them. It starts off by gathering information about who its customers are and where they are located. In the given scenario, which of the following steps of the customer relationship management (CRM) cycle is Magnira Inc. executing? a. Conducting an ethnographic research b. Identifying customer associations with the organization c. Identifying profitable and unprofitable customers d. Leveraging customer information to all areas of their business

b

Many multinational companies have found that they need to alter their products to meet regulations or consumer preferences in other countries. Unilever discovered that customers in emerging markets such as Indonesia, Pakistan, and Sri Lanka have use for their products, but may not be able to afford a full-size bottle of shampoo or bar of soap. As a result, when Unilever looks at new-product development for these countries, they probably: a. do not sell products in these countries at all. b. sell single-serve packets of shampoo or soap at a low price. c. develop new scents of shampoo to meet customer preference. d. sell the same size products at a much lower price.

b

Market research should be conducted: a. only when it can be done for free. b. when the expected value of the information is greater than the cost of obtaining it. c. when market share for a product has dropped for three consecutive quarters. d. when a company can leverage data from the CRM system to uncover new data.

b

Marketers who want to make sure that consumers are treated as unique individuals with distinct needs and wants will be most successful if they follow the customer relationship management (CRM) trend of _____. a. technology b. personalization c. undifferentiated targeting d. mass marketing

b

Marketing managers can manage the reputation of their company by a. building relationships and awareness about their products. b. responding to comments and criticism that appear on blogs and forums. c. gaining insight into their competitors' operations. d. projecting the positive aspects and withholding the negative aspects of a product.

b

Mathew purchased a new cell phone. As per the manual, the battery should be charged for at least 3 hours before its first use. After just 1 hour of charging, the phone exploded. The explosion was due to a problem with the battery. In this case, Mathew can lodge a complaint with the _____ against the cell phone company. a. Federal Trade Commission b. Consumer Product Safety Commission c. Department of Trade d. Consumer Protection Commission

b

Nestor Motors, an automobile manufacturing firm, manufactures muscle cars that are mostly preferred by men. The company wants to widen its customer base and conducts research about the preferences of women in cars. It launches a new line of sleek cars that are reliable for day-to-day commute. This new line of cars is targeted toward women. In this scenario, Nestor Motors is using _____. a. income segmentation b. gender segmentation c. age segmentation d. ethnic segmentation

b

Number of comments, ratings, social bookmarks, subscriptions, page views, uploads, downloads, embeds, retweets, Facebook posts, pins, and time spent with social media platform indicate __________. a. buzz b. participation and engagement c. influence d. interest

b

Private label products bring 10 percent higher profit margins, on average, than manufacturers' brands because a. private label products are sold only to a niche target market. b. overhead cost is low and there are no marketing costs in private labels. c. private labels sell products of superior quality. d. heavy advertising by a manufacturer negatively impacts its consumer loyalties.

b

The food inspection department assigns Anderson, a researcher, the task to inspect the food and service quality at leading restaurants in the town. Every week, he visits a restaurant and pays very close attention to the quality of the food, service, and the cleanliness of the cutlery used. The restaurant staff members are unaware that he has been hired to report his experiences at the restaurant to the food inspection department. In this scenario, Anderson is a _____. a. competitive intelligence gatherer b. mystery shopper c. pollster d. cause-related marketer

b

The marketing mix has been described as a. a principle that holds that 20 percent of all customers generate 80 percent of the demand for a product. b. product, place, promotion, and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market. c. the steps involved in segmenting a market based on the characteristics of individuals, groups, or organizations. d. groups of people or organizations sharing one or more characteristics that cause them to have similar product needs.

b

The research and development (R&D) team of DataCom Corp., a software firm, holds a meeting to discuss potential ideas for new products. In the meeting, the moderator encourages everyone to share their ideas, no matter how trivial they may seem. He warns members against criticizing any idea and asks them to focus on offering plenty of ideas. In this scenario, the R&D team of DataCom is engaged in _____. a. beta testing b. brainstorming c. idea screening d. concept testing

b

The retail industry in the United States: a. is small, accounting for only one fifth of the U.S. GDP. b. employs 42 million people. c. is shrinking, due to offshoring. d. is weak, with most consumers cutting spending.

b

The standard of behavior by which conduct is judged is known as _____. a. personality b. ethics c. cognitive ability d. trust

b

There are a number of detergents marketed under the Tide brand, including detergents with and without fabric softener, with and without bleach, with various pleasing smells, and fragrance-free formulations. These detergents are an example of Tide's: a. marketing mix. b. product line. c. product mix. d. product equity. e. mix consistency.

b

Unlike in owned media, in earned media a. a brand pays for the text-based or visual ads that are displayed in social media platforms. b. consumers pass along brand information in the form of retweets and blog comments. c. a brand generates its own content in social media. d. the word of mouth is spread face-to-face rather than online.

b

Unlike the one-brand-name strategy, the strategy of using a different brand name in different markets a. provides for greater identification of a product from market to market. b. is more useful when a marketer wants the brand to appear as a local brand. c. is more useful when a company mainly markets one product. d. provides greater ease in coordinating promotion from market to market.

b

Unlike utilitarian value, hedonic value a. can be viewed as a means to an end. b. gives the consumers good feelings, happiness, and satisfaction. c. cannot be the sole value that a consumer receives from a service. d. is obtained from products rather than services.

b

When considering interaction between companies and customers online, _______ is the attention that social media attracts while ______ is the interactions between the brand and the audience, such as retweets or comments. a. awareness; conversions b. awareness; engagement c. conversions; engagement d. engagement; awareness

b

When someone gives up something in order to receive something else they would rather have, it is called: a. a purchase. b. an exchange. c. a transaction. d. a substitute.

b

Which marketing management philosophy focuses on the question, "What do customers want and need?" a. Production b. Market c. Internal d. Sales e. Product

b

Which of the following can help businesses maintain their market share and profit margins? a. Focusing on increasing overhead costs b. Working hard despite growing challenges c. Focusing on pricing and not product quality d. Refraining from adopting new technologies

b

Which of the following is a characteristic of supply chain-oriented firms? a. They focus on resolving customer complaints rather than building customer relationships. b. They have managers with the vision required to do things that benefit the entire supply chain in the short run. c. They are better off financially in the short run but often suffer in the long run. d. They follow a safe plan rather than taking risks.

b

Which of the following is a difference between business products and consumer products? a. Business products are well suited to mass promotion, whereas consumer products are well suited to methods such as personal selling. b. Business products are often custom-tailored to the buyer's exact specifications, whereas consumer products are not. c. Business products require the creation of brand familiarity during promotion, whereas consumer products do not require the creation of brand familiarity during promotion. d. Business products are promoted mainly through advertising or social media, whereas consumer products are promoted and sold by a company representative.

b

Which of the following is a difference between public service advertisements (PSAs) and commercial advertisements? a. Unlike commercial advertisements, PSAs do not promote programs of a federal, state, or local government. b. Unlike a commercial advertiser, the sponsors of PSAs do not pay for the time or space. c. Unlike commercial advertisements, PSAs form a major source of income for the media platform that they use. d. Unlike commercial advertisements, PSAs promote profitable products.

b

Which of the following is a reason for the increasing popularity of the integrated marketing communications concept? a. Marketers have discontinued the use of online advertising because of its lack of measurability. b. Marketers have slashed their advertisement spending in favor of promotional techniques that generate immediate sales responses. c. Different segmented markets have fused to form a mass market with common needs and desires. d. The proliferation of thousands of media choices beyond traditional television has made promotion an easy task.

b

Which of the following is a trend that will lead to the continuing growth of customer relationship management (CRM)? a. Indirect marketing b. Loyalty c. Standardization d. Cannibalization

b

Which of the following is an advantage of a brand maintaining a Facebook page? a. It helps marketers control negative reviews about their brand. b. It helps optimize search engine results. c. It allows marketers to buy their own domains from Facebook. d. It helps marketers eliminate their competitors.

b

Which of the following is an advantage of multiple-variable market segmentation? a. It uses secondary data that are easily available. b. It is more precise than single-variable segmentation. c. It is simpler and easier to use than single-variable segmentation. d. It maintains the size of each market segment even with multiple segmentation bases.

b

Which of the following is correct about humorous advertising? a. It is effective in changing consumers' deeply rooted values and attitudes. b. It is effective at shaping attitudes when consumers already have a positive image of an advertised brand. c. It is not effective when used to reinforce and remind loyal customers about the benefits of a product. d. It is not used to publicize new brands introduced in the market.

b

Which of the following is the objective of informative promotion? a. To stimulate a purchase or an action b. To stimulate interest in a new product c. To form relationships with potential customers through social media platforms d. To keep the product and brand name in the public's mind

b

Which of the following is true of a convenience store? a. It carries a deeper but narrower assortment of merchandise within a single category of interest. b. It offers long hours and fast service in exchange for premium prices. c. It carries an extensive line of high-turnover convenience goods. d. It competes on the basis of low prices, high turnover, and high volume.

b

Which of the following is true of companies that focus on supply chain management? a. They provide customers with a substantial increase in expenditure on company assets. b. They have low inventory costs. c. They have high transportation and warehousing costs. d. They have low logistical flexibility.

b

Which of the following is true of direct mail? a. It allows consumers to order products online and collect them from a physical store. b. It allows marketers to precisely target their customers according to demographic, geographic, and/or psychographic characteristics. c. It employs outbound and inbound telephone contacts to sell directly to consumers. d. It enables customers to shop over the Internet and have items delivered directly to their doors.

b

Which of the following statements is a characteristic of companies that focus on supply chain management? a. They report low quality of customer service. b. They report low transportation and warehousing costs. c. They report low logistical flexibility. d. They report low revenues.

b

Which of the following statements is a difference between encoding and decoding? a. Encoding is done by the receivers of a message, whereas decoding is done by the senders of a message. b. Encoding is the conversion of ideas by words and signs, whereas decoding is the interpretation of language and symbols. c. Encoding is a process of mass communication, whereas decoding is a process of interpersonal communication. d. Encoding is usually exposed to misinterpretation, whereas decoding is free from any misinterpretation.

b

Which of the following statements is an objective of the customer relationship management process? a. To create customer-focused plans of action prior to actual purchases being made. b. To identify and build relationships with good customers. c. To identify exactly what items and quantities customers will buy. d. To minimize the costs of serving multiple types of customers.

b

Which of the following statements is the main function of promotional strategy? a. To provide a wide assortment of merchandise b. To convince target customers that the goods and services offered provide a competitive advantage over the competition c. To understand how a brand's target consumers behave as shoppers in different channels and formats d. To sell products at higher prices to reinforce the prestigious image of retailers

b

Which of the following statements is true of a product assortment? a. Stores avoid modifying their product assortments to accommodate factors in the external environment. b. Many online retailers purposely focus on single product line niches that could never attract enough foot traffic to support a traditional physical store. c. Developing a product assortment involves selling products to consumers at right prices to ensure sales. d. The depth of a product line refers to the collection of products offered.

b

Which of the following statements is true of a product? a. Consumer products and industrial products are differentiated based on price. b. It may be a tangible good, a service, an idea, or any combination of these three. c. An excellent distribution channel and a persuasive promotion campaign can compensate for an inferior product. d. The marketing process differs depending on whether the product marketed is a good or a service.

b

Which of the following statements is true of demand-supply integration? a. It is used for warehousing and materials-handling. b. It is focused on integrating the supply-management and demand-generating functions of an organization. c. It is used to align supply and demand throughout the supply chain by anticipating customer requirements. d. It is a system of management practices that is consistent with a "systems thinking" approach. e. It is composed of bundles of interconnected activities that stretch across firms in the supply chain.

b

Which of the following statements is true of major equipment? a. It includes materials such as sheet metal, chemicals, specialty steel, treated lumber, and plastic. b. It includes capital goods such as expensive machines, mainframe computers, and blast furnaces. c. It includes materials such as mineral ore, timber, wheat, corn, fruits, vegetables, and fish. d. It includes goods such as portable drills, power tools, microcomputers, and computer software.

b

Which of the following statements is true of mobile surveys? a. A shop-along is not possible in mobile surveys. b. The survey completion rates decrease with the screen size of mobiles. c. They require more time than other forms of surveys. d. They provide asynchronous feedback to the marketers who conduct the surveys.

b

Which of the following statements is true of product assortment? a. Product assortment allows traditional department stores and specialty stores to use low prices and discounts to lure shoppers. b. Stores often modify their product assortments in order to accommodate factors in the external environment. c. The service levels that retailers provide can also be categorized by the width and depth of their product lines. d. Retailers are categorized according to the relationship between their products and their customers' needs.

b

Which of the following statements is true of profit maximization? a. A firm's profit maximization is independent of the type of competitive environment. b. A firm cannot charge a price higher than the product's perceived value. c. Profit maximization always signifies that products are priced unreasonably high. d. Managers can try to maximize profits by compromising customer satisfaction.

b

Which of the following statements is true of relationship integration? a. It is a system of management practices that are consistent with a ''systems thinking'' approach. b. It is the ability of two or more companies to develop social connections that serve to guide their interactions when working together. c. It is composed of bundles of interconnected activities that stretch across firms in the supply chain. d. It is when multiple firms or their functional areas in a supply chain coordinate business processes so they are linked to one another.

b

Which of the following statements is true of reminder promotion? a. It prevails during the growth stage of the product life cycle. b. It prevails during the maturity stage of the product life cycle. c. It is designed to stimulate a purchase or an action. d. It forms relationships with customers through technological ties.

b

Which of the following statements is true of social change? a. It is independent of customers' attitudes, values, and lifestyles. b. It is difficult to integrate into marketing plans. c. It is an internal marketing variable. d. It is easily forecasted by marketing managers.

b

Which of the following statements is true of the microblogging website Tumblr? a. It encourages traditional blog-length text posts. b. It does not have text length limits. c. It is primarily used in businesses to recruit freelancers. d. It is not meant for creators.

b

With the introduction of the internet, many people thought that all B-to-B shopping would be completed online and the need for distributors would be eliminated. However, distributors perform important functions for business customers including all of the following except: a. processing returns. b. selling items at wholesale costs. c. providing information and advice. d. providing credit and delivery for purchases.

b

_____ consist of an integrated questionnaire designer, server, database, and data delivery program designed for use by nonprogrammers. a. Online survey panels b. Web survey systems c. Web community programs d. Online focus groups

b

_____ is a type of integration that requires firms to link seamlessly to those outsiders that provide goods and facilities to them so that they can streamline work processes and thereby provide smooth, high-quality customer experiences. a. Customer integration b. Material and service supplier integration c. Technology and planning integration d. Measurement integration

b

_____ is measured by comparing income to the relative cost of a standard set of goods and services in different geographic areas. a. Final consumption expenditure b. Purchasing power c. Household debt d. Disposable income

b

_____ is the result of applying human or mechanical efforts to people or objects. a. A stock b. A service c. Value d. A brand

b

NAICS is a valuable tool because: (Check all that apply) a. companies within the same classification group likely use different types of raw materials and production processes. b. the codes can help firms identify potential users of their products and services. c. information from the codes can help project market potential estimates. d. it can help business marketers tailor their messages to similar target markets.

b, c, d

A target market is a group of people a. who do not benefit from a new product or any changes made to an existing product targeted at them. b. who are least likely to change their purchasing patterns irrespective of any changes in the marketing mix for a product. c. for whom an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group. d. who collaborate and co-brand their products to increase their market share, boost the sales records, and gain greater profits.

c

According to Charlene Li and Josh Bernoff of Forrester Research, _____ are those who maintain a social networking profile and visit other sites. a. spectators b. inactives c. joiners d. collectors

c

According to the North American Industry Classification System (NAICS), which of the following goods- or service-producing firms are grouped together? a. Firms that share identical capital investment b. Firms that are located in identical geographical locations c. Firms that use identical production processes d. Firms that use identical marketing strategies

c

All of the following are benefits of supply (value) chain management EXCEPT: a. key means of differentiation for a firm. b. reduces supply chain costs. c. decreases cash flow. d. improves customer service. e. increases flexibility of supply chain activities.

c

All of the following are product characteristics influencing the rate of adoption EXCEPT: a. complexity. b. compatibility. c. distribution. d. relative advantage. e. observability.

c

An appliance repair shop a. Weekly design and printing needs, purchase decisions may be made by a marketing professional b. High-end design and inexpensive printing needs, purchase decisions made by owner c. Simple printing needs, purchase decisions made by owner who is price sensitive d. Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

c

Commercials for a new and innovative tablet computer demonstrate the product's capabilities and benefits. The commercials promote the product by advertising the ease of multitasking on the tablet. Since this new product is one of a kind, the commercials aim to project the benefits of the tablet through dramatic advertising. These commercials are an example of _____. a. institutional advertising b. advocacy advertising c. pioneering advertising d. comparative advertising

c

Company X sells their products exclusively to companies in the Y market. In estimating demand from their business customers, Company X must understand that this demand is actually _____________, which means that the demand for industrial products and services is driven by demand for consumer products and services. a. selective demand b. primary demand c. derived demand d. secondary demand

c

Duke University submits a press release to The Herald Sun newspaper that Henry Gibson has been named Dean of the College of Business. This illustrates which duty of public relations departments? a. Investor relations b. Crisis management c. Press relations d. Public affairs

c

Identify a true statement about a flighted media schedule. a. It is the same as continuous scheduling. b. It uses light advertising for two months. c. It varies the frequency of ads to achieve greater impact. d. It has less impact than other types of media schedules.

c

In the context of a straight rebuy, which of the following statements is true of the purchasing contract? a. It is used with products that are bought in low volume. b. It tends to increase the level of competition during sales. c. It tends to make the buyer's decision making routine. d. It is used with products that are seldom bought.

c

In the context of the ever-changing marketplace, which of the following statements is true of marketing research? a. It results in inaccurate forecast as the market place keeps changing. b. It overlooks the role of word of mouth advertising in the promotion process of newly launched products. c. It helps in understanding the marketing environment with the aid of big data analytics. d. It discourages the use of loyalty programs when marketing to improve customer relationships.

c

Stanley likes using fountain pens. When he came across a new series of fountain pens manufactured by Dilloit Pens, he eagerly bought one. The pen's appealing exterior combined with the long-established reputation of Dilloit Pens made Stanley assume that the fountain pen would be of high quality. To his disappointment, the pen smudged and bled despite using high-quality ink. In this case, Stanley purchased the pen based on _____. a. evoked set b. consumer set c. perceived value d. actual value

c

The _____ classifies each strategic business unit (SBU) by its present or forecast growth and market share. a. opportunity matrix b. SWOT analysis model c. portfolio matrix d. General Electric model

c

The external environment: a. can be controlled in much the same manner as the internal marketing mix. b. cannot be influenced by marketing managers. c. must be continually monitored by marketing managers. d. does not change over time. e. does not have an impact on Fortune 500 companies.

c

The first stage of the new-product development process is: a. developing a business analysis b. exploring opportunities c. establishing the new-product strategy

c

The practice of treating employees as customers and developing systems and benefits that satisfy their needs is called _____. a. personalized marketing b. direct marketing c. internal marketing d. global marketing

c

The purpose of packaging is to a. secure the right of a company to use a brand or part of a brand. b. protect a brand name from being declared a generic product name. c. protect products from breakage, spoilage, light, and other conditions. d. even out seasonal sales patterns.

c

Through marketing research, the Boston Symphony Orchestra (BSO) learned it has an older market and is not attracting younger concertgoers. It next conducted marketing research to determine if a social media advertising and engagement campaign they were considering that would be targeted to the younger market would be successful. In its second use of research, BSO employed _____ marketing research. a. normative b. descriptive c. predictive d. historical e. objective

c

To succeed in a global marketplace, a nonprofit service organization should a. seek to achieve a profit for distribution to stockholders. b. provide services to those who are adequately served by profit organizations. c. consider each country's cultural, technological, and political environment while designing the marketing mix. d. charge a monetary price for free services

c

Unlike Hispanic Gen Xers, Hispanic Millennials tend to be a. uninfluenced by their cultural heritage and familial roots. b. more concerned about themselves than their families. c. more open-minded about relationships than their parents. d. lax about pursuing rewarding careers and business ventures.

c

Unlike new brands with a small market share, brands with a large market share a. spend proportionately more for advertising and sales promotion than new brands. b. can easily change consumers' deeply rooted values and attitudes. c. only need to remind customers of their products rather than capture their attention. d. need to penetrate consumers' perceptual defenses about a product choice.

c

Unlike omnichannel marketing, multichannel marketing a. creates greater customer control over the shopping experience. b. leads to greater satisfaction and loyalty by making a firm's inventory data available to customers in real-time. c. creates redundancy and complexity in a firm's distribution system. d. unifies a firm's retail interfaces so that all customers receive equal and efficient service.

c

Unlike push money, trade allowance a. gives lower return on investment than push money. b. involves offering customers coupons and rebates. c. involves offering price reductions. d. seldom helps in sales promotion.

c

When Amazon first introduced the Kindle DX, an e-reader with a screen 2.5 times larger than the Kindle, it was priced at $499--$150 more than the Kindle. It was targeted to avid readers who purchased a lot of e-books to store on their Kindle DX. Amazon was likely using a: a. penetration pricing strategy. b. status quo pricing strategy. c. price skimming strategy. d. competitive price strategy.

c

When a firm plans to enter a foreign market with an existing product, a one-brand-name strategy a. makes it more difficult to identify the products from market to market. b. facilitates the identification of the product as a local brand. c. provides for greater identification of the product from market to market. d. benefits companies that market a wide variety of products.

c

When competition is intense, typically during the growth stage of the product life cycle, it would be most appropriate to use which type of promotion? a. Reminder b. Informative c. Persuasive d. Connection

c

When consumers search extensively for a particular item and are very reluctant to accept substitutes, that item is a(n) _____. a. shopping product b. convenience product c. specialty product d. unsought product

c

When thinking about the characteristics of a market, willingness to buy can by illustrated by which of the following? a. Griffin wants a pair of soccer cleats and recognizes that Nike makes a pair that will fit his needs. b. Kristen was excited to learn that the new Hyundai Ioniq she had been admiring was finally available for sale at dealerships. c. Alex is ready to use the $400 he earned mowing lawns all summer to purchase a GoPro camera from Best Buy. d. Most large copy machines are purchased by companies or institutions in the business market.

c

Which of the following best defines a push promotional strategy? a. It uses social media and content marketing to invite customers to buy products. b. It stimulates consumer demand to obtain product distribution. c. Manufacturers may use aggressive personal selling to convince a wholesaler to carry and sell their merchandise. d. It focuses its promotional efforts on end consumers or opinion leaders.

c

Which of the following best defines cost per contact? a. It is the cost of promoting a product to one retailer. b. It is the cost of promoting a product using a single promotional element. c. It is the cost of reaching one member of the target market. d. It is the cost of publishing one advertisement in a newspaper.

c

Which of the following defines contract logistics? a. It is the process of obtaining services and ideas by inviting contributions from various individuals. b. It is a firm's decision to conduct all its functions internally. c. It is a firm's use of an independent third party to manage transportation and warehousing. d. It is the transfer of a firm's employees from its office to homes with appropriate technological facilities.

c

Which of the following is a difference between an express warranty and an implied warranty? a. A manufacturer that promises an express warranty must meet minimum quality standards, whereas a manufacturer that promises implied warranty does not have to meet any quality standards. b. An express warranty is a simple statement, whereas an implied warranty consists of extensive documents written in technical language. c. An express warranty is a written guarantee, whereas an implied warranty is an unwritten guarantee that a good or service is fit for the purpose for which it was sold. d. A manufacturer must offer full refund under the terms and conditions of an express warranty, whereas no such refund is provided for an implied warranty.

c

Which of the following is a difference between customized services and standardized services? a. Standardized services are more flexible than customized services. b. Unlike customized services, standardized services usually command a higher price. c. Standardized services are more efficient and cost less than customized services. d. Unlike customized services, standardized services respond to individual customers' needs.

c

Which of the following is a disadvantage of a concentrated targeting strategy? a. Firms may suffer losses because of weak product positioning. b. It often results in unimaginative product offerings that have little appeal to anyone. c. Firms may suffer negative consequences if the chosen segment is too small. d. It prevents small firms from being able to compete with large firms.

c

Which of the following is a disadvantage of a multisegment targeting strategy? a. It results in sterile, unimaginative product offerings. b. It reduces a firm's market share. c. It results in cannibalization. d. It leads to lower sales volume and lower profits for a company.

c

Which of the following is an implication of social media for marketers? a. Marketers must understand that social media lack methods to measure the interaction between marketers and customers. b. Marketers must realize that it is enough for them to have a great ad campaign on social media for successful promotion. c. Marketers must realize that they often do not control the content on social media sites. d. Marketers must understand that word of mouth spreads slowly on social media sites.

c

Which of the following is not a characteristic of a market? a. willingness to buy b. ability c. similar characteristics d. people or organizations

c

Which of the following is true of agile companies? a. They focus mainly on their internal capabilities while fulfilling orders. b. They focus on resolving customer complaints rather than building customer relationships. c. They synchronize their activities through the sharing of supply and demand market information. d. They often rely on their suppliers for managing supply chain operations.

c

Which of the following is true of franchisees? a. They own the brand and grant licenses to franchisors to operate and sell products under the franchisee's name. b. They receive a pay from the franchisor to use the franchisee's name, product, and business methods. c. They take advantage of the franchisor's brand equity and operational expertise. d. They decide the trade name, product, and methods of operation.

c

Which of the following is true of online retailers? a. They do not require any advertisements or sales promotion to increase their profits. b. They provide a restricted time frame to customers to decide what to buy. c. They do not need physical retail store space for displaying and selling merchandise. d. They provide a limited range of products because of space restrictions.

c

Which of the following is true of the demand management process? a. It seeks to introduce features and cost-cutting measures into final products. b. It seeks to identify and build relationships with good customers. c. It seeks to minimize the costs of serving multiple types of customers. d. It seeks to reduce the time between order and customer receipt.

c

Which of the following is true of the growth phase of the product life cycle? a. Pioneering advertisement is appropriate. b. Marketers provide in-depth information about products. c. Firms use competitive or brand advertising. d. Marketers create primary demand for a new product.

c

Which of the following reflects the information effect of price? a. Bryan always relies on the brand Woodens for buying his furniture as it offers the best warranty scheme. b. Alice, an avid reader, spends most of her money buying books as she does not have much interest in spending on other items of leisure. c. John, a businessman, wears watches exclusively from luxury brands as he feels it enhances his status and class among his peers. d. Mandy saves money by cutting down on her daily expenses to buy her dream car.

c

Which of the following statements best defines mass communication? a. It is the communication that takes place between two end consumers. b. It is the direct, face-to-face communication between two or more people. c. It is the communication of a concept or message to large audiences. d. It is the paid-for communication between two people in an attempt to influence each other.

c

Which of the following statements is correct about an advertising campaign? a. It does not use humor to promote a theme. b. It circumvents the need for post-campaign evaluation. c. It extends for a defined period of time. d. It cannot focus on more than one advertising appeal.

c

Which of the following statements is true of a secondary membership group? a. It influences consumers' behavior when they try to maintain distance from it. b. It includes groups with which people interact regularly in an informal manner. c. It includes groups with which people interact in a less consistent and formal manner. d. It is a direct reference group.

c

Which of the following statements is true of brainstorming? a. Group members advocate criticism of an idea when it is ridiculous. b. Objective evaluation of ideas is advanced by group members. c. Its goal is to get a group to think of unlimited ways to solve a problem. d. The sheer quality of ideas generated during the process is what matters.

c

Which of the following statements is true of commercialization? a. It refers to the adoption of an innovation. b. It refers to limited introduction of a product. c. It refers to the decision to market a product. d. It refers to the launch of a new product.

c

Which of the following statements is true of customer relationship management (CRM)? a. It views the market as one big market with no individual segments. b. It requires customers to spend more time making purchase decisions. c. It personalizes customers' experience according to their needs. d. It depends on traditional mass-media approaches for marketing.

c

Which of the following statements is true of customized services? a. They are less flexible than standardized services. b. They usually command a relatively lower price. c. They respond to individual customers' needs. d. They are more efficient than standardized services.

c

Which of the following statements is true of demographic characteristics? a. They seldom influence promotional strategies of marketers. b. They can be easily controlled by marketers. c. They are strongly related to consumer buying behavior in the marketplace. d. They are static and do not experience change.

c

Which of the following statements is true of income? a. Income level does not influence consumers' wants. b. Income is a popular geographic variable for segmenting markets. c. Income level determines consumers' buying power. d. Income makes no impact on the family life cycle.

c

Which of the following statements is true of marketing strategies that can be adopted for high-involvement products? a. Marketing managers should link the products to a relatively low-involvement product. b. In-store promotion can be used as an important tool. c. Promotion to the target market should be extensive and informative. d. Marketing managers should focus on package design, so the products are eye-catching and easily recognized on store shelves.

c

Which of the following statements is true of rebates? a. Rebates offer more immediate rewards than coupons. b. Manufacturers have less control over rebate promotions because they take a lot of time to be rolled out and shut off. c. Rebates are good at enticing purchase but most consumers never bother to redeem them. d. Manufacturers offer price cuts for selected customers.

c

Which of the following statements is true of the descriptive role of marketing research? a. It includes determining the impact on sales of a design change. b. It includes addressing "what if" questions. c. It includes gathering and presenting factual statements. d. It includes making rules, laws, or directions.

c

Which of the following statements is true of the introductory stage of a product's life cycle? a. Savings can be passed on to consumers in the form of lower prices. b. In an inelastic target market, firms often find it better to price a product at the market level or lower. c. Development costs could be recovered quickly if the product's price is set high. d. If the target market is highly price sensitive, firms often find it better to price a product higher than the market level.

c

With value-based pricing: a. additional long-term costs to manufacturers will increase. b. increased profitability for wholesalers will increase the number of services they are willing to perform. c. the firm is both customer driven and competitor driven. d. the firm is sales driven. e. consumers are more concerned about price than quality.

c

Within a market, a _____ is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. a. parallel market b. network segment c. market segment d. marketing mix

c

Zack & Marlo Inc. earns heavy profits through its online retail division. Its website offers several unique features such as allowing users to ask for suggestions and rate or recommend its products. Such functionalities help Zack & Marlo Inc. to expand its customer base rapidly. This is an example of _____. a. text mining b. crowdsourcing c. social commerce d. sentiment analysis

c

_____ are pathways for moving products and information toward customers such that they can be sent and/or received with electronic devices. a. Reverse channels b. Agent channels c. Digital channels d. Gray marketing channels

c

_____ is a direct marketing technique that is based on data analytics of census data, lifestyle patterns, financial information, and past purchase and credit history that allows direct mailers to pick out those most likely to buy their products. a. E-tailing b. Telemarketing c. Microtargeting d. M-commerce

c

_____ is a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other. a. Public relations b. Sales promotion c. Personal selling d. Advertising

c

_____ is a smartphone trend that uses small chips hidden in or behind products that, when touched by compatible devices, will transfer the information on the chip to the device. a. Text mining b. 3D printing c. Near field communication d. Screen mirroring

c

_____ is an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand. a. Distributive advertising b. Institutional advertising c. Cooperative advertising d. Corporate advertising

c

_____ is defined as a process whereby retailers use complex mathematical models to make better product mix decisions. a. Shopper analytics b. Retail channel omnification c. Big data analytics d. Microtargeting

c

_____ is the effort to capture media attention—for example, through articles or editorials in publications or through human-interest stories on radio or television programs. a. Flexibility b. Crisis management c. Publicity d. Audience selection

c

_____ is the inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. a. Stimulus generalization b. Subliminal perception c. Cognitive dissonance d. Self-actualization

c

_____ is the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance. a. Advertising b. Personal selling c. Public relations d. Public promotion

c

_____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. a. Content marketing b. Media marketing c. Business marketing d. Consumer marketing

c

_____ is the process of researching brain patterns and measuring certain physiological responses to marketing stimuli. a. A cross-tabulation b. Anticipatory coping c. Neuromarketing d. An ethnography shop-along

c

_____ is typically used to safeguard against negative consumer attitudes and enhance a company's credibility among consumers who already favor its position. a. Pioneering advertising b. Competitive advertising c. Advocacy advertising d. Comparative advertising

c

_____ means setting prices so that total revenue is as large as possible relative to total costs. a. Sales maximization b. Bait pricing c. Profit maximization d. Sales-oriented pricing

c

_____ refers to everyday devices like refrigerators, toys, lightbulbs, and hot water heaters connecting wirelessly to a network to improve their functionality. a. Share of wallet b. Modular technology c. The Internet of Things d. The facelift trend

c

_____ use another manufacturer's already established channel and are used most often when the creation of marketing channel relationships may be expensive and time-consuming. a. Reverse channels b. Relationship channels c. Strategic channel alliances d. Nontraditional channelization e. Multiple distribution systems

c

d. screening and concept testing e. the building of a prototype During which stage of the process does the marketer lead the preliminary analysis and calculations for demand, cost, sales, and profitability? a. The building of a prototype b. Screening and concept testing c. Developing a business analysis d. Establishing the new-product strategy e. Exploring opportunities

c

A _____ is based on the belief that people will buy more goods and services if aggressive marketing techniques are used. a. production orientation b. market orientation c. societal marketing orientation d. sales orientation

d

A _____ may be defined as everything, both favorable and unfavorable, that a person receives in an exchange. a. warranty b. label c. trademark d. product

d

A company that suffers from marketing myopia: a. has both low market attractiveness and low business position as illustrated by the GE model. b. creates a single product targeted to a single market. c. expects to see an increase in profits immediately after pursing a strategic alternative, rather than after increasing their market share. d. defined their business in terms of goods and services rather than in terms of the benefits customers seek.

d

A difference between African American populations and Asian American populations is that a. Asian Americans seldom retain their core Asian values. b. Asian Americans' spending power is less than African Americans. c. Asian Americans refrain from buying from Asian American stores. d. Asian Americans' population growth has been fueled primarily by immigration.

d

A key factor influencing the selection of a service provider is a. the quality of the products. b. the price of the products. c. credence quality. d. convenience.

d

A local car dealer a. Weekly design and printing needs, purchase decisions may be made by a marketing professional b. High-end design and inexpensive printing needs, purchase decisions made by owner c. Simple printing needs, purchase decisions made by owner who is price sensitive d. Large design pieces and expensive printing needs, purchase decisions must be approved by manufacturer

d

A management system that coordinates and integrates all of the activities performed by member companies into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value is called _____. a. manufacturing flow management b. demand management c. customer service management d. supply chain management

d

A production orientation philosophy focuses on a. choosing the best promotional strategy. b. adopting aggressive pricing strategies for a firm's products. c. advertising a product aggressively. d. assessing the resources of a firm.

d

A service firm can create a strong organizational image by a. using real customers in its advertisements. b. simulating positive word-of-mouth communication among customers. c. engaging in follow-up activities to get customer feedback. d. managing the physical environment of the service facility.

d

A small grocery store chain is looking to enhance its relationship marketing. If executives at the company want to reach a structural level of relationship marketing, they should: a. send the customer a $10 off $100 purchase coupon in the mail. b. during checkout, give customers coupons for items they regularly purchase. c. offer a loyalty card in which customers earn points to save on fuel at select gas stations. d. offer grocery delivery to customers with orders placed through a mobile app that saves previous shopping lists for convenience.

d

Aaron and Jane, a married couple, plan to buy a car. Aaron chooses a car that has a sporty look. Jane, on the other hand, chooses a car that is beautiful and elegant. In this scenario, which of the following plays a role in influencing Aaron and Jane's purchase decisions? a. Age b. Family life cycle c. Economic influences d. Gender

d

According to Ansoff's strategic opportunity matrix, _____ is a strategy of increasing sales by introducing new products into new markets. a. product development b. market penetration c. hedging d. diversification

d

According to Ansoff's strategic opportunity matrix, a company is most likely to be using a market development strategy when a. it sells its business units to other companies. b. it introduces a new product to its customers. c. it increases the prices of all its products. d. it sells existing products to new and existing buyers.

d

All of the following are conditions of an exchange except: a. each party is free to accept or reject the exchange offer. b. each party has something that might be of value to the other party. c. at least two parties are required. d. money is the medium of exchange.

d

An industrial product is bought for the purpose of a. being given as a gift to people. b. being consumed by family and friends. c. satisfying an individual's personal wants or needs. d. manufacturing other goods or services.

d

Angela and Dominic own Cincy by the Slice pizzeria. They are interested in keeping track of the number of mentions their store receives on sites like Twitter and Facebook, but they are unsure of which steps to take next. Which of the following resources would best meet their needs? a. An advanced customer database with predictive application b. A social customer relationship management system c. Web analytics software d. A listening platform with key word report capabilities e. An insight platform that offers online focus group solutions

d

Carol has a 2-year-old daughter and posts write-ups about her child-rearing experiences online. She most often writes about baby products—their benefits and harmful effects. In this case, Carol is a _____. a. lyric writer b. niche blogger c. technical writer d. mommy blogger

d

Competition can be created by a. maintaining stable prices throughout a product's life cycle. b. practicing penetration pricing. c. matching the price of a product with the price charged by the competitors. d. charging high prices and inducing firms to enter a market.

d

Competitive intelligence: a. is a unique set of features of a company and its products that are perceived by the target market as significant and superior to those of the competition. b. identifies a company's internal strengths and weaknesses and external opportunities and threats. c. is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds. d. helps managers assess their competition and vendors in order to become more efficient and effective competitors.

d

Elastic demand is a situation in which a. an increase or a decrease in price does not significantly affect the demand for a product. b. demand is created for new products by aggressive brand awareness campaigns. c. consumer demand always exceeds the supply. d. consumer demand is sensitive to price changes.

d

Franz Tress, a cosmetics manufacturing company, offers an annual subscription plan to its customers where the customers have the option to automatically renew the subscription plan once it completes its term. In this scenario, Franz Tress is trying to influence its consumers' decision journey through _____. a. motivation b. brand renewal c. the need recognition cycle d. the loyalty loop

d

From a worldwide perspective, which of the following statements is true of global marketers? a. They believe that all products have the potential for global market penetration without modification. b. They develop products that are common across all markets and populations. c. They do not focus on meeting smaller markets' requirements. d. They design their products to meet regulations in their major markets.

d

George believes that internal marketing is important for a goods manufacturing firm. However, Erick believes that internal marketing is more critical for a service firm than a goods firm. In this case, Erick's belief is most likely to be true because a. service firms offer tangible services to customers. b. employees in service firms play an insignificant role in building relationships with customers. c. service firms have consistent inputs and outputs. d. employees in service firms deliver the brand promise directly to customers.

d

Implementing a marketing plan a. is the starting point of the marketing mix strategy to identify target markets. b. provides the mechanisms for evaluating marketing results in light of the plan's objectives. c. entails gauging the extent to which marketing objectives have been achieved during the specified time period. d. requires delegating authority and responsibility, determining a time frame for completing tasks, and allocating resources.

d

In a product development process, which of the following is a disadvantage of test marketing? a. It prevents management from evaluating alternative strategies. b. It leads to problems in assessing how well various aspects of the marketing mix fit together. c. It cannot be used to test established products. d. It exposes the new product and its marketing mix to competitors before its introduction.

d

In a study whose purpose is to determine the market for a vitamin that is to be chewed like bubble gum, what is the first question to be answered before a sampling plan is selected? a. How large should the sample be in terms of its measurement costs? b. Who can perform the actual sampling? c. How often should the sample be redesigned? d. What is the population or universe of interest? e. Must the sample be representative of the population?

d

In five years, Volkswagen sold only 57,000 of its Routan minivan. The company decided to stop producing the model and instead developed a new SUV, the Atlas. This illustrates that market segmentation: a. can help predict sales performance. b. is not helpful in determining customer needs and wants. c. is not helpful in defining marketing objectives. d. can help marketers better allocate resources.

d

In order to stimulate innovation, Harlose Inc. allows its researchers to devote 2-3 hours of their normal work schedule to pursue their own ideas and projects. Which of the following approaches is the company using in this case to stimulate innovation? a. Using basic research b. Using Web enlisting c. Allowing self-dealing d. Catering to entrepreneurs

d

In the 1950s, Kellyn Derma, a skin care company, produced only one type of lotion targeting the entire skin care market. Today, it produces different types of creams and lotions to suit different age groups and different skin types. In this scenario, Kellyn Derma is using the strategy of _____. a. market cannibalization b. green marketing c. cause-related marketing d. market segmentation

d

In the context of business products, unprocessed extractive or agricultural products are called _____. a. component parts b. major equipment c. accessory equipment d. raw materials

d

In the context of evaluative criteria, installing equipment and training its users is an example of _____. a. modified rebuy b. product quality c. technical suitability d. service

d

In the context of gender segmentation, which of the following statements is true of women? a. They are an inexperienced purchasing group, unlike men. b. They tend to accumulate money for the sake of accumulation. c. They are rarely part of all-male markets, such as financial markets. d. They tend to research investments in-depth more than men do.

d

In the context of questionnaire design, which of the following is a similarity between a closed-ended question and a scaled-response question? a. Both lead to biased responses from the audience. b. Both encourage an answer to be phrased in the respondent's own words. c. Both questions are more difficult to tabulate than open-ended questions. d. Both ask respondents to choose from a limited list of responses.

d

Innovyx is an email marketing service provider. It has a new ad campaign aimed at changing negative perceptions of email. The ads explain how much cheaper email advertising is than traditional advertising and what a high return on investment it can generate if used properly. Finally, the message ends by suggesting that companies wanting to promote their products give email a chance to show what it can do. This promotion has the task of: a. informing. b. suppressing. c. reminding. d. persuading. e. rewarding.

d

Integrated marketing communications is: a. the process by which meanings are exchanged or shared through a common set of symbols. b. a plan for the optimal use of the promotion elements like advertising and public relations. c. the process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. d. the coordination of all promotional messages for a product or service.

d

Ira believes that Damien soap moisturizes effectively. When she sees Damien shampoo at the store, she purchases it as she assumes that it will have the same effect. In this case, which of the following forms of learning influences Ira to buy Damien shampoo? a. Product differentiation b. Self-actualization c. Selective distortion d. Stimulus generalization

d

Ivan, a salesperson at a computer manufacturing firm, tries to persuade his customers to buy a particular computer by explaining its features and comparing it with the other models in the market. Moreover, he always maintains communication with customers who visit the firm. He does this to build long-lasting relationships with customers. In this scenario, Ivan is using _____. a. e-mail marketing b. content marketing c. sales promotion d. personal selling

d

Joan bought five beaded necklaces for $3 each. If she wants a 40 percent return, her retail price should be _____. a. $1.95 b. $6 c. $3.17 d. $5

d

Krackle, a food manufacturing company, added two new flavors to its famous line of potato chips. After introducing the flavors, Krackle advertised the new variations of chips through advertisements for a period of six months. This was done to stimulate the interest of consumers in the new products. In this scenario, Krackle employed _____. a. connective promotion b. reminder promotion c. persuasive promotion d. informative promotion

d

Luis, a supply manager at Benson Corp., calls a sales representative at OffPro Distributors to place an order for 50 reams of copy paper for official purposes. OffPro Distributors purchases the required goods from Ranson Inc. and delivers the goods to Luis the next day. In this scenario, OffPro Distributors is an example of a(n) _____. a. manufacturer b. producer c. institution d. reseller

d

Luxury handbag and accessories retailer Rebecca Minkoff utilizes _____ in its stores. Fitting rooms have "magic mirrors" that identify a garment a customer is trying on and then show the customer recommended accessories they could buy to accompany it. a. beacons b. big data analytics c. facial recognition d. RFID technology

d

Maria sees a leather coat in a department store and purchases it immediately even though it is expensive. Before purchasing, she experiences inner tension that she may be able to purchase the same coat for a lesser price in another store. This inner tension is an example of _____. a. need recognition b. subliminal perception c. selective exposure d. cognitive dissonance

d

Marketers at North Face have listed their segmentation descriptors as market size, density, and climate. They are likely segmenting the market: a. by benefit. b. psychographically. c. demographically. d. geographically.

d

Marketing myopia refers to a. collecting and interpreting information from long-term events. b. focusing on delivering high-quality products rather than earning profits. c. focusing on both internal and external environments of a business. d. defining a business in terms of goods rather than the benefits customers seek.

d

Megan is a customer care executive in a firm that manufactures laptops. She receives a complaint from a customer that the warranty of his laptop has been reduced from 2 years to 18 months. Megan immediately accesses the firm's customer care software to view the customer's product information, matches the complaint with the proper service dispatch center, and provides a quick and effective response to the customer. This scenario is an example of _____. a. order fulfillment b. product commercialization c. customer relationship management d. customer service management

d

Muscular Trends Inc., a fitness equipment manufacturing company, does not meet the targeted sales turnover for the financial year. Roger, the marketing manager of Muscular Trends Inc., decides to conduct marketing research to investigate the reason for the decrease in sales. In this scenario, through market research, Roger will most likely a. be able to exclude the external environmental factors that affect and influence consumer behavior. b. ensure that secondary data do not influence his future marketing decisions. c. understand simple relationships of marketing variables, but not the detailed and complicated ones. d. identify what has gone wrong in the previous sales strategies.

d

New-to-the-world products: a. are offered at a lower price, but provide performance similar to competing brands. b. are slightly changed versions of existing products. c. are usually not profitable. d. represent the smallest category of new products.

d

QuantPro, a manufacturer of electronic goods, sells its products exclusively through its website. It allows shoppers to purchase products while keeping the prices low. This enables the company to avoid any transactions with intermediaries in its marketing channel. According to this scenario, which of the following channels does Quantico use for the distribution of its products? a. A broker channel b. A wholesaler channel c. A retailer channel d. A direct channel

d

Ralone Corp. manufactures printers. When it launched a new line of laser printers, it also introduced laser toners. None of the other laser toners in the market were compatible with its laser printers. So, as long as its laser printers are in demand, its laser toners will also be in demand. In this scenario, Ralone Corp.'s laser printers and laser toners are products that exhibit _____. a. inelastic demand b. fluctuating demand c. elastic demand d. joint demand

d

Susan goes to Magnira Spa to get a massage and asks for the best masseur in the spa. She knows that her experience depends on the quality of the masseur. Which of the following characteristics of service can be observed in this scenario? a. Homogeneity b. Perishability c. Tangibility d. Inseparability

d

Tale Tel is a mobile network operator. To increase its market share, the company installed many booths around Linway city to provide information to the general public about the features of its services. In this scenario, Tale Tel is focusing on the _____ element of the marketing mix. a. production b. pricing c. distribution d. promotion

d

The gap model of service quality a. categorizes an organization's services into four groups based on their importance and effect on the growth of the organization. b. links service quality with the objectives of a business unit and a corporation. c. traces the stages of a service's acceptance from its introduction to its decline. d. identifies areas that can cause problems in service delivery and influence customer evaluations of service quality.

d

Toyota manufactures many different styles and models of vehicles likely because: a. Toyota becomes more efficient in manufacturing when producing multiple models. b. customers are willing to pay money or take out a loan in order to drive a Toyota vehicle. c. with over 1,200 dealerships in the United States, Toyota must make the models available to purchase for customers. d. customers have different preferences and needs for vehicles and offering many different styles and models allows Toyota to meet those varying preferences.

d

Unlike routine response behavior, in extensive decision making, a consumer a. practices this type of decision making while buying frequently purchased, low-cost goods and services. b. is not familiar with the available brands in the market. c. is familiar with several different brands in the product category but sticks with one brand. d. uses several criteria for evaluating his or her options and spends much time seeking information.

d

What are the twin pillars of marketing? a. Customer relationships, promotion b. Product, place c. Customer relationships, segmentation d. Segmentation, differentiation

d

Which of the following describes a department store? a. It carries a deeper but narrower assortment of merchandise within a single category of interest. b. It is a retail store that stocks pharmacy-related products and services as its main draw. c. It is an off-price retailer that is owned and operated by a single manufacturer and carries only its own line of merchandise. d. It carries a wide range of products and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture.

d

Which of the following functions is performed by merchant wholesalers? a. They simplify distribution by reducing the number of transactions required by consumers. b. They simplify distribution by making an assortment of goods available in one location. c. They provide contact efficiency for consumers. d. They provide time and place utility and contact efficiency to retailers.

d

Which of the following is a difference between customized and standardized products? a. Customized products use indirect marketing channels, whereas standardized products use direct marketing channels. b. Customized products cost less, whereas standardized products cost more. c. Customized products benefit from long distribution channels, whereas standardized products benefit from short distribution channels. d. Customized products are sold through agents or brokers, whereas standardized products are sold through merchant wholesalers and retailers.

d

Which of the following is a disadvantage of the AIDA (attention, interest, desire, and action) concept? a. It does not take into account the cognitive element in the purchase-decision process. b. It assumes that firms can sell products without creating awareness about them. c. It does not suggest the most effective promotional strategy to marketers. d. It does not explain how all promotions influence purchase decisions.

d

Which of the following is a reason for managers to choose a price that is not too high or too low? a. Low-cost products just reach break-even point and do not earn any profits. b. Sales opportunities decrease when the perceived quality of a product is more than its actual quality. c. Setting a moderate price is a safe measure considering that demand fluctuates over time. d. The price of a product should match the value of the product as perceived by target consumers.

d

Which of the following is a similarity between a supermarket and a stock market? a. Both are composed solely of business organizations. b. Both deal in consumer durable products. c. Both use a barter system to facilitate the exchange of products. d. Both are composed of people who have the ability to buy the products they seek.

d

Which of the following is an advantage of advertising? a. It creates a long-term, committed relationship between the salesperson and the customer. b. It reduces the total cost incurred by a company if done on a national basis. c. It allows direct two-way communication between the marketer and the consumer. d. It has the ability to communicate to a large number of people at one time.

d

Which of the following is an advantage of break-even analysis? a. A simple break-even analysis gives considerable importance to demand. b. Fixed costs and variable costs can easily be distinguished from each other at all times. c. It helps managers set a price that matches the consumers' perceived value of the product being sold. d. It gives an estimate of how much profit can be earned if a higher sales volume is obtained.

d

Which of the following is an advantage of retail channel omnification? a. It allows customers to order online and pick their orders from stores. b. It benefits retailers as customers must enter their stores in order to claim their purchases. c. It benefits customers because it reduces delivery times. d. It avoids redundancies in inventory and transportation and saves costs.

d

Which of the following is an example of a market segment? a. A group of companies producing similar products b. A group of individuals with different product needs c. A group of business units belonging to the same organization d. A group of individuals aged between 60 and 75 years

d

Which of the following is an example of a marketing-controlled information source? a. Personal experiences b. Friends c. Personal memories d. Salespeople

d

Which of the following is an individual fact or unique to consumers that influences their buying decisions? a. Subculture b. External stimulus c. Social class d. Lifestyle

d

Which of the following is not one of the stages of the product lifecycle? a. Decline stage b. Maturity stage c. Introductory stage d. New product strategy stage e. Growth stage

d

Which of the following is one of the three defenses a seller has when charged with price discrimination? a. A seller can legally vary price if the products sold are commodities or other tangible goods. b. A buyer can legally use his or her purchasing power to make sellers sell their products at discriminatory prices. c. Price discrimination is allowed if the products sold are of like grade and quality. d. Price variations are justified if designed to meet fluid product or market conditions.

d

Which of the following is true of a freestanding location? a. There is limited visibility because it is often located in pedestrian malls. b. It is easier to attract customers to a freestanding location. c. There are many retailers around the location to share costs. d. It has low site cost or rent and no nearby competitors.

d

Which of the following is true of an organization's product mix width? a. All product items in a product mix follow a standard marketing strategy. b. A wide product mix means that the product line is deep. c. A wide product mix decreases sales and profit-making potential. d. Firms increase the width of their product mix to diversify risk.

d

Which of the following is true of complex buying decisions? a. The most effective promotion reminds the consumer about the brand. b. The promotion for products involving complex consumer decisions calls attention to the brand. c. Consumers are least involved in complex buying decisions. d. Personal selling is most effective in helping consumers make complex buying decisions.

d

Which of the following is true of firms practicing environmental and social sustainability? a. Their supply chain costs increase disproportionately. b. They practice sustainability only when business leaders act altruistically. c. They practice sustainability to maintain good public relations. d. They can generate cost savings and enact sustainable business practices.

d

Which of the following is true of highly integrated supply chains? a. They focus mainly on resolving customer complaints. b. They reduce the profitability of companies. c. They deliver low-quality products and decrease productivity. d. They are good at satisfying customers.

d

Which of the following is true of marketing channels? a. They form the "upstream" portion of the supply chain that moves raw materials to the producer. b. They represent the product or service element of the marketing mix. c. They aid customers in creating time, place, and exchange utility. d. They provide a route for company products and services to flow to the customer.

d

Which of the following is true of the promotional mix for a product in its decline stage? a. Sales promotion encourages early trial of the product. b. Reminder and persuasive advertising are emphasized more strongly. c. Persuasive promotion is used to build brand loyalty. d. Personal selling efforts may be maintained at the retail level.

d

Which of the following pricing strategies helps companies adjust their prices? a. Premium pricing b. Bait-and-switch pricing c. Status quo pricing d. Dynamic pricing

d

Which of the following refers to a personal information source? a. A follow-up activity that a service firm engages in b. Managing the tangible items associated with a service c. A concrete symbol of the service offering d. Someone consumers admire or can relate to personally

d

Which of the following refers to the process of identifying and assessing what is being said about a company, individual, product, or brand? a. Crowdsourcing b. Sales promotion c. Advertising campaign d. Social media monitoring

d

Which of the following statements best describes the typical target market? a. A target market will remain stable over time, including the same group of consumers. b. Target markets only change when the features and benefits of the product offering change. c. Target markets cannot be specifically defined according to age, income, or location, because these factors are continually changing. d. Target markets change over time as consumers drop in or out of the market, and as tastes change. e. Target markets are not strongly affected by changes in the external environment.

d

Which of the following statements describes a beacon? a. It is an application used by retailers that allows customers to bring used products for donation at the store. b. It is a technological interface that allows customers to provide themselves with products without the help of an employee. c. It is a machine that offers goods for sale. d. It is a device that sends out connecting signals to customers' smartphones and tablets to bring them into a retail store.

d

Which of the following statements is not true of strategic alliances? a. Companies often form strategic alliances to strengthen operations and better compete. b. Strategic alliances require commitment and trust in order to be successful. c. They can be formed between two manufacturers, manufacturers and suppliers, or manufacturers and channel intermediaries. d. Strategic alliances are formed between companies within in the same industry.

d

Which of the following statements is true of Asian Americans? a. Their population is declining. b. They are older than all other ethnic groups. c. They are less educated compared to all other groups. d. They have the highest average family income of all groups.

d

Which of the following statements is true of a competitive advantage based on product/service differentiation? a. It is the only viable option for small companies with limited resources. b. It can be achieved by increasing production costs. c. It serves only a limited geographic market that is not crucial to other competitors. d. It is relatively longer lasting than cost competitive advantages.

d

Which of the following statements is true of a new-product strategy? a. It refrains from adopting ideas suggested by customers and competitors. b. It is limited to product development and does not play a role in overall marketing strategy. c. It is the last stage of a formal new-product development process. d. It provides general guidelines for generating, screening, and evaluating new-product ideas.

d

Which of the following statements is true of a warranty? a. It helps retailers rapidly and accurately prepare records of consumer purchases and track sales. b. It gives a company the exclusive right to use a brand or a part of a brand. c. It focuses on a promotional theme or logo, while consumer information is secondary. d. It protects a buyer and gives essential information about a product.

d

Which of the following statements is true of brand loyalty? a. Brand loyalty is not affected by product quality. b. The best generator of repeat sales is unsatisfied customers. c. Brand loyalty is influenced only by the price of a product. d. Brand identity is essential to develop brand loyalty.

d

Which of the following statements is true of business markets? a. Business marketers require long channels of distribution. b. Business customers tend to buy products for personal consumption. c. Business marketers usually approach purchasing rather informally. d. Business customers tend to buy products in large quantities.

d

Which of the following statements is true of cost leadership in the context of cost competitive advantage? a. It results from providing unique and valuable products to buyers at lower costs. b. It is obtained by effectively serving a single segment of the market. c. It is obtained by introducing frills and options to a product or service. d. It results from controlling overhead costs and avoiding marginal customers.

d

Which of the following statements is true of exchange utility? a. It refers to the increase in customer satisfaction gained by making a good or service available at the appropriate time. b. It refers to the usefulness of a good or service as a function of the location at which it is made available. c. It refers to the elements of the composition and appearance of a product that make it desirable. d. It refers to the increased value of a product that is created as its ownership is transferred.

d

Which of the following statements is true of firms that adopt marketing concepts? a. They focus on aggressive marketing strategies assuming that customers will buy products they do not need. b. They believe that price is the most important variable for customers to buy a product. c. They believe that good promotion and advertising strategies can save a bad product. d. They focus on integrating all the organization's activities to satisfy customer wants.

d

Which of the following statements is true of gray marketing channels? a. They enable consumers to return products to the retailer or manufacturer. b. They keep inventories of their products and sell as well as service them. c. They include approaches such as mail-order television or video channels, or infomercials. d. They are secondary channels that are used to sell stolen or counterfeited products.

d

Which of the following statements is true of individual characteristics of a person? a. People are more willing to try different lifestyles instead of sticking to one. b. Individual characteristics change drastically with a person's age due to the change in personality. c. People are compelled to spend more money if they want to change their lifestyles. d. Individual characteristics are generally stable over the course of people's lives.

d

Which of the following statements is true of market segmentation? a. It divides a market into submarkets of equal size and potential, which helps in the uniform allocation of resources. b. It allows marketers to use one marketing mix across all market segments. c. It allows marketers to broadly define marketing objectives that apply to the entire market. d. It helps marketers define customer needs and wants more precisely.

d

Which of the following statements is true of price? a. Price means the same thing for both consumers and sellers. b. Price refers solely to the monetary value of a good or service. c. The information effect of price emphasizes the negative correlation between price and quality. d. Organizations successfully manage prices by creating pricing infrastructure within a company.

d

Which of the following statements is true of relationship marketing? a. It has become less important than before because competition is becoming less intense. b. For most suppliers, retaining their current customers has become a secondary focus. c. Business suppliers use social networking sites sparingly. d. Maintaining a steady dialogue between a supplier and a customer is a proven way to gain repeat business.

d

Which of the following statements is true of the Hispanic Millennials in the United States? a. They adopt a monolingual approach to media consumption. b. They are unwilling to accept future family obligations and the difficulties of supporting parents. c. They use English as a common language instead of Spanish for their everyday activities. d. They embrace parts of their culture, yet they also look forward to being successful in business.

d

Which of the following statements is true of the benefit of a product? a. Customers enjoy benefits specifically with expensive products. b. A benefit is simply a feature of a product. c. Customers do not buy benefits; they buy attributes. d. It is what consumers will achieve by using a product.

d

Which of the following statements is true of the maturity stage of the product life cycle (PLC)? a. The beginning of this stage is signaled by increased sales rates. b. Service and repair assume the least significant roles. c. This is the shortest stage of the PLC. d. New users cannot be added indefinitely during this stage.

d

Yield management systems are useful in cases where a. a company's products or services are not perishable. b. companies minimize or ignore the importance of demand. c. the capacity of a product or service cannot be fixed in advance. d. unused assets would result in loss of revenue.

d

Zara's retailing operation model: a. likely means that the retailer has higher inventory costs. b. combines a mass merchandising strategy with low levels of customer service. c. creates demand by continually restocking popular items. d. has the potential to increase repurchases.

d

_____ are individuals who influence consumer buying decisions and are often the most informed, plugged-in, and vocal members of society. a. Capitalists b. Initiators c. Decision makers d. Opinion leaders

d

_____ are large, departmentalized, self-service retailers that specialize in food and some nonfood items. a. Specialty stores b. Supercenters c. Department stores d. Supermarkets

d

_____ are people born between 1946 and 1964. a. Millennials b. Generation Y c. Generation X d. Baby Boomers

d

_____ delivers relevant experiences throughout a consumer's decision and buying process that are integrated across both physical and virtual environments. a. Premium marketing b. Product marketing c. Societal marketing d. On-demand marketing

d

_____ demand means that an increase or decrease in the price of a product will not significantly affect demand for the product. a. Joint b. Fluctuating c. Derived d. Inelastic

d

_____ is a form of electronic distribution that involves the creation of objects via an additive manufacturing technology that layers raw materials into desired shapes at or near the location of consumption. a. Molding b. Lenticular printing c. Tampography d. Three-dimensional printing

d

_____ is a photo sharing website. a. LinkedIn b. Vine c. Foursquare d. Imgur

d

_____ is a technique for adjusting prices that uses complex mathematical software to profitably fill unused capacity by discounting early purchases, limiting early sales at these discounted prices, and overbooking capacity. a. Ad text optimization b. Status quo pricing c. Keystoning d. Yield management systems

d

_____ is a vital part of the marketing mix, informing consumers of a product's benefits and thereby positioning the product in the marketplace. a. Price b. Place c. Distribution d. Promotion

d

_____ is best defined as a form of direct marketing that employs outbound and inbound telephone contacts to sell directly to consumers. a. Direct retailing b. Direct mail c. Microtargeting d. Telemarketing

d

_____ is the interpretation of the language and symbols sent by a source through a channel. a. Transmission b. Encryption c. Encoding d. Decoding

d

_____ is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives. a. Promotion b. Segmentation c. Diversification d. Implementation

d

_____ refers to the inability of services to be touched, seen, tasted, heard, or felt in the same manner that goods can be sensed. a. Perishability b. Heterogeneity c. Inseparability d. Intangibility

d

A _____ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats. a. strategic alternative selection b. marketing audit c. competitive advantage audit d. trend analysis e. situation analysis

e

A company that wants to implement a market orientation would need to: a. do research on its customers, competitors, and markets. b. implement actions that provide value to customers. c. establish and maintain mutually satisfying relationships with customers. d. determine how to deliver superior customer value. e. do all of the activities listed.

e

Which of the following represents programs that use convenience to get consumers to recycle products like batteries or cell phones during a regular trip to the store? a. Reverse channel b. Channel partnering c. Strategic channel alliance d. Gray marketing e. Drop and shop

e

Cutting costs is the best way to maximize profitability. True False

false

Marketers can control the external environment in which their organizations operate. True False

false

A carefully selected group of consumers who agree to participate in an ongoing online dialogue with a particular corporation is known as a(n): a. web community. b. webinar. c. online focus group. d. focus blog. e. web-based ethnographic group.

a

A company that produces running shoes specifically for customers with low arches, utilizes a market-orientation approach and likely: a. employs customer relationship management strategies. b. focuses on selling what the company makes rather than making what the market wants. c. uses personal selling as a primary means of generating sales. d. defines its business in terms of the goods and services it offers.

a

According to social media expert Brian Solis, the term social media refers to _____. a. any tool or service that uses the Internet to facilitate conversations b. a communication channel that depends on nonverbal cues c. any communication channel that depends on face-to-face interaction d. a marketing medium that uses visual representation on paper

a

Although it is difficult to measure the ROI of a social media campaign, marketers can measure interest through: a. the number of "likes," fans, or followers. b. the number of comments, uploads, or downloads. c. click-through rates on websites. d. the number of media mentions.

a

Bethnik Blu, a high-quality paints manufacturer, markets its paints as eco-friendly products that contain no traces of harmful petrochemical byproducts. In this scenario, Bethnik Blu is implementing _____ in order to sell its products. a. greenwashing b. brand equity c. global branding d. individual branding

a

Bookworm, a small retailer of books, offers old books to its customers at a discounted price. It has a huge collection of books in a small room. This gives the impression that the owners are giving away the books for free. In this scenario, which of the following factors has led to this perception of the store's atmosphere? a. Merchandise type and density b. Visual factors c. Employee density d. Fixture type and density

a

Equality, one of America's core values, is a value that means a. no one should expect to be treated differently from anybody else. b. hard work, dedication to family, and frugality are moral and right. c. success would come to anyone who has an education and who worked hard. d. every person should stand on his or her own feet regardless of their background.

a

Firms increase the depth of the product lines to a. attract buyers with different preferences. b. diversify risk across many product lines. c. reduce the number of market segments. d. invest more in production and marketing.

a

How should an organization identify its most valuable customers? a. By understanding what drives loyalty in customers b. By introducing the need for change in component lifestyles c. By changing their marketing mix every subsequent year d. By picking a specific age group and catering to their demands

a

In the context of channel functions performed by intermediaries, _____ functions typically include transportation and storage of assets as well as their sorting, accumulation, consolidation, and/or allocation for the purpose of conforming to customer requirements. a. logistical b. transactional c. facilitating d. financing

a

In the context of customer relationship management (CRM), a company should identify its profitable and unprofitable customers because a. not all customers are equally important for a business. b. customer data cannot be stored and integrated throughout the company. c. information about all its customers cannot be obtained and maintained. d. all customers should receive the same type of information irrespective of their purchase patterns.

a

In the context of ethnic markets in the United States, which of the following statements is true? a. By 2050, around one in three U.S. residents will be of Hispanic descent. b. One marketing mix can be adopted to cater to the needs of ethnic markets. c. Ten percent of the Hispanic population in the United States is of Mexican descent. d. The American demographic profile is witnessing minimal change.

a

Italiano, an American restaurant, experienced increased sales and high profits in the initial years of its establishment. Recently, it began to face increased competition. To rebuild its brand value, Italiano started expanding its distribution network and aggressively promoting its restaurant. In this scenario, Italiano is in the _____ stage of the product life cycle. a. growth b. maturity c. introductory d. decline

a

The _____ is a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce. a. Federal Trade Commission b. U.S. Securities and Exchange Commission c. Federal Trade and Development Agency d. Consumer Financial Protection Bureau

a

The _____ is a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns. a. advertising response function b. advertising campaign c. advertising objective d. advertising appeal

a

Which of the following is true of brand cannibalization? a. Promotion creates inaccurate sales forecasts for both the promoted and cannibalized products. b. It involves techniques that employ highly detailed data analytics in order to isolate potential customers with great precision. c. Retailers make high profits from discounting surplus inventory of the cannibalized brand. d. Retailers incur lower costs in executing a promotion strategy.

a

Which of the following is true of measurement integration? a. It reflects the idea that performance assessments should be transparent across the borders of different firms. b. It requires a firm and its suppliers to have a common vision of the total value creation process. c. It enables firms to offer long-lasting, distinctive, value-added offerings to valuable customers. d. It leads to the development of a shared mental framework across companies.

a

Which of the following is true of outsourcing logistics functions? a. It enables companies to refocus investment on their core business. b. It requires companies to acquire more distribution centers for their products. c. It enables companies to locate stock at more plants. d. It enables companies to enlarge their inventories.

a

Which of the following is true of shopper marketing? a. It focuses on understanding how a brand's target consumers behave as shoppers in different channels and formats. b. It focuses on delivering the maximum benefit to brands. c. It involves shoppers buying something online and then traveling to a physical store location to take delivery of the merchandise. d. It reduces the need for sophisticated analytics and metrics.

a

Which of the following is true of simultaneous product development? a. All relevant functional areas participate in all stages of the development process. b. It increases the costs involved in the product development process. c. The functional teams proceed through highly structured, sequential stages. d. It allows firms to lengthen the product development process.

a

Which of the following is true of social media when used for marketing? a. The ability to share experiences quickly amplifies the impact of word of mouth in ways that can affect a company's bottom line. b. Evaluation of interaction between marketers and consumers in social media is less reliable compared to traditional marketing methods. c. Social media lack the element of participation or relationship building with customers. d. Marketers have great control over the content on social media sites.

a

Which of the following is true of the factors that affect consumer decision making? a. Cultural factors exert the broadest and the deepest impact on consumer behavior. b. Psychological factors include gender, age, family life cycle stage, personality, self-concept, and lifestyle. c. Social, individual, and psychological factors do not affect a decision-making process. d. Cultural values are static and do not affect the purchase behavior of consumers.

a

Which of the following statements best defines return on investment? a. It is a firm's net profits after taxes divided by total assets. b. It is the margin of profit earned by a firm inclusive of the taxes payable by the firm. c. It is the percentage of increase in sales achieved by increasing production costs. d. It is the price charged to customers multiplied by the number of units sold.

a

Which of the following statements is a similarity between retailers and wholesalers? a. Both take title to products in the marketing channel. b. Both only facilitate sales of products. c. Both sell directly to consumers as their primary function. d. Both dramatically alter the form of a good.

a

Which of the following statements is true in the context of the family life cycle? a. Young married couples without children have the highest purchase rate. b. Young single individuals have many financial burdens to overcome. c. Middle-aged married couples without dependent children are interested in new products. d. Divorced couples with children have high liquid assets.

a

Which of the following statements is true of a company's market share? a. Many companies believe that maintaining market share is an indicator of the effectiveness of their marketing mix. b. Market share ignores profits, competition, and the marketing environment as long as sales are rising. c. Even in extremely competitive markets, market share helps in reaching the target return on investment and earning money. d. Market share is the basis for sales maximization.

a

Which of the following statements is true of a strategic business unit (SBU)? a. It has control over its resources. b. It does not have competitors in its market. c. It has a generic mission and universal target market. d. Its plans are dependent on other SBUs.

a

Which of the following statements is true of a wholesaler channel? a. It is commonly used for low-cost items that are frequently purchased, such as candy, cigarettes, and magazines. b. It is most common when the store seller is large and can buy in large quantities directly from the manufacturer. c. It includes telemarketing, mail order and catalog shopping, and forms of electronic selling such as online shopping and shop-at-home television networks. d. It includes approaches such as mail-order television or video channels, or infomercials.

a

Which of the following statements is true of absolute failure? a. It occurs when a company fails to recoup its development, marketing, and production costs. b. It results when a product returns a profit but fails to achieve sales, profit, or market share goals. c. It results when a company sells its products at bargain prices to make a profit. d. It occurs when a product achieves sales and market share goals but fails to achieve profit goals.

a

Which of the following statements is true of culture? a. Technology has accelerated the rate of cultural change. b. Evolving environment has made culture lose its dynamic value. c. Cultural values and influences are non-pervasive. d. Culture is a natural phenomenon that does not require any learning.

a

Which of the following statements is true of heterogeneous shopping products? a. Prices, quality, and features vary greatly from product to product. b. Consumers are satisfied picking up the lowest-priced brand. c. Consumers find it easy to compare heterogeneous shopping products. d. Decisions made in choosing heterogeneous shopping products are often highly group-oriented.

a

Which of the following statements is true of production-oriented firms? a. These firms survive and prosper where competition is weak. b. These firms consider whether the goods produced meet the needs of the marketplace. c. These firms predominantly focus on the needs of customers. d. These firms fail in a market where demand exceeds supply.

a

Which of the following statements is true of retailing? a. Retailers have no choice but to react to new trends and innovations. b. Retailers are responsible for bringing in changes to the marketing environment. c. Retailing involves products that are used for business-oriented purposes. d. The retail sector does not affect the economy of the United States.

a

Which of the following statements is true of sales promotion? a. It includes experiential marketing whereby events are created to enable customers to connect with brands. b. It includes a planned presentation to prospective buyers for the purpose of making a sale. c. It is a long-run tool used to stimulate gradual increases in demand. d. It is a tool used to build a long-term relationship between the salesperson and the customer.

a

_____ allow the movement of products upstream, in the direction of the producer. a. Reverse channels b. Agent or broker channels c. Direct channels d. Dual distribution channels

a

_____ describes how people make purchase decisions and how they use and dispose of the purchased goods and services. a. Consumer behavior b. Product adaptation c. Promotion adaptation d. Consumer service

a

_____ is a company's product sales as a percentage of total sales for that industry. a. Market share b. Return on investment c. Product share d. Market projection

a

_____ is a measure of the decrease in the value of money, generally expressed as the percentage reduction in value since the previous year. a. Inflation b. Recession c. Cost of living d. Disposable income

a

_____ is a positioning strategy that some firms use to distinguish their offerings from those of competitors. a. Product differentiation b. Geographic segmentation c. Market segmentation d. Perceptual mapping

a

_____ is defined as a cooperative agreement between business firms. a. A strategic alliance b. The content marketing statute c. A straight rebuy d. A relationship marketing contract

a

_____ is the quantity of a product that will be sold in the market at various prices for a specified period. a. Demand b. Market share c. Output d. Product share

a

_____ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly. a. Greenwashing b. Cooperative branding c. Global branding d. Persuasive labeling

a

_____ occurs when a company cannot recoup its development, marketing, and product costs and the company actually loses money. a. Absolute failure b. Perceived failure c. Development failure d. Relative product failure

a

_____ research is the study of human behavior in its natural context, involving observation of behavior and physical setting. a. Ethnographic b. Visualization c. Survey d. Action-based e. Experiment

a

Mobile research: (Check all that apply) a. can be completed by a customer on the train, as they wait at a restaurant, or if they are early for an appointment. b. allows participants to respond to direct and immediate questions. c. is difficult to conduct. d. can provide immediate feedback when a consumer makes a purchase decision.

a, b, d

Studying marketing is important because: a. marketing contributes directly to a company's profits and growth. b. regardless of your major, it is important to have a basic understanding of all business areas. c. it allows students to become better informed citizens. d. marketers earn higher salaries than other business areas.

a,b,c

A product that is purchased to fulfill an individual's personal wants and needs is known as a(n) _____. a. intermediate product b. consumer product c. business product d. industrial product

b

A regional utility company needs to change consumers' perceptions of its current service as being harmful to the environment. Which of the following strategies would best allow the company to accomplish this goal? a. Disintermediation b. Repositioning c. Contraction of the number of services offered by the utility company d. Adding new services to its product line e. Use of product cannibalization

b

A unique consequence of social media is the _____. a. increased control of manufacturers over the content available on the Internet b. widespread shift from one-to-many communication to many-to-many communication c. marketing of consumer goods and services to customers through personal selling d. experience of physically seeing and feeling a product before purchasing

b

According to Ansoff's strategic opportunity matrix, a product development strategy entails a. attracting new customers to existing products. b. creating new products for present markets. c. introducing new products to new markets. d. attracting present customers to existing products.

b

According to one of the defenses for a seller in the Robinson-Patman Act of 1936, _____. a. the products sold at discriminatory prices should be necessarily identical b. reducing prices to stay in competition with other companies may be necessary c. buyers can use their purchasing power to force sellers into granting discriminatory prices d. price variations are allowed in transactions that occur in interstate commerce

b

According to the AIDA (attention, interest, desire, and action) concept, a consumer's attention can be attracted by a. illustrating how the product's features will satisfy the consumer's needs. b. using a friendly greeting and approach. c. using a strong closing sales pitch. d. delivering a good sales presentation.

b

Addiso, an energy drink, was extremely popular in the early 2000s. It suffered a decline in its sales because of rising competition in the market. As a result, the manufacturers modified the product's packaging from its regular cylindrical bottle to an interesting triangular-shaped package. This led to an increase in sales. In this scenario, the modified product belongs to the category of a. additions to existing product lines. b. improvements or revisions of existing products. c. new-to-the-world products. d. repositioned products.

b

Airlines and the hotel industry use dynamic pricing and yield management systems because a. the capacity of their product or service cannot be determined in advance. b. their services are perishable in nature. c. their product and service characteristics are different in nature. d. they operate exclusively on the basis of costs.

b

Although many factors can influence price, the primary determinants are: a. stage of the product life cycle and costs to the consumer. b. the demand for the good and the cost to the seller. c. distribution and promotion strategies. d. demand by the consumer and perceived quality. e. costs of manufacturing and distribution.

b

An objective of strategic retailing is to a. focus mainly on online selling. b. increase total sales. c. decrease store traffic. d. increase the cost of goods sold.

b

Asterix Inc., an electronics store, sells gadgets of various brands at heavily discounted prices. It dominates its narrow merchandise segment because it offers a complete selection of merchandise. In this scenario, Asterix Inc. is an example of a _____. a. warehouse club b. category killer c. supermarket d. factory outlet

b

Axxon, a cell phone brand, recently launched Felix D2, a new cell phone, in the market. The marketers at Axxon have already gained the attention of consumers through advertising and content marketing. They now want to create interest among the target consumers in this new product and thereby increase sales. In this scenario, the marketers can create consumer interest by a. convincing the target consumers that Felix D2 will satisfy their needs. b. arranging Felix D2 demonstrations and target messages to innovators and early adopters. c. offering unique applications and better features than their competitors. d. continuing advertising to communicate the features and benefits more effectively.

b

Based on target market characteristics, personal selling is sometimes required even when a. consumers are making a routine decision. b. buyers are well informed and geographically dispersed.

b

Because services are inseparable, they cannot be tried before they are purchased. To counteract this, a service firm might: a. offer discounted service prices at off peak times. b. offer a guarantee for the customer's complete satisfaction. c. offer free coffee and tea in the waiting room. d. use a robot to standardize the service.

b

CVS Health engaged in strategic planning when it: a. made a one-time donation to the Alzheimer's Foundation of America. b. decided to no longer sell tobacco products in its stores. c. ran an advertisement in the Sunday paper which included a coupon. d. closed five locations for two days during Hurricane Irma.

b

Cruz Gray Inc. positions its beauty and skin care products as the only products in the market that are 100 percent natural and are not tested on animals. This gives the company a significant advantage over its competitors. In the given scenario, which of the following strategies does Cruz Gray Inc. use? a. Geographic segmentation b. Product differentiation c. Product cannibalization d. Market penetration

b

Customer relationship management (CRM) is implemented in firms to a. reduce personalization of products. b. optimize customer satisfaction. c. minimize the use of database technology. d. maximize the role of distributors in marketing.

b

Diana went to a store to buy a new pair of sunglasses. Before buying, she assessed the color and appeal of the pair she liked. This is an example of a(n) _____. a. experience quality b. search quality c. credence quality d. heterogeneous quality

b

Diggit D, an electronics manufacturing company, believes that its competitor, Digit Dee, has copied Diggit D's name and product lines in order to mislead people and benefit from their name. Diggit D is likely to file a case against Digit Dee under the law governing _____. a. persuasive labeling b. trademark infringement c. greenwashing d. co-branding

b

Identify an accurate statement about mobile marketing. a. Mobile marketing is not measurable; therefore, it gives limited insight into consumer behavior. b. There are more consumers than ever acclimating to once-worrisome privacy and pricing policies. c. The effectiveness of mobile marketing reduces when combined with geo-location platforms. d. An effort to standardize mobile platforms has resulted in a high barrier to entry.

b

If a target market is international, _____. a. marketing mix should be independent of cultural influences b. political structures affecting the market plan should be described c. psychographics of the target market need not be assessed d. it should be approached with a marketing mix similar to the local culture

b

In 2014, fashion retailer, H&M, placed a full page advertisement in a newspaper in the Czech Republic detailing the withdrawl of a belt that had small pieces which could be a choking hazard. This is an example of: a. product publicity. b. crisis management. c. employee relations. d. public affairs.

b

In the context of the strategies for selecting target markets, which of the following is an advantage of undifferentiated marketing? a. It results in highly imaginative and attractive product offerings. b. It offers potential savings on production and marketing costs. c. It caters to the specific needs of individual customers. d. It makes a company immune to competition.

b

Judy decides to gift her brother a guitar for his birthday. In this case, the guitar is an example of a _____. a. brand mark b. consumer product c. major equipment d. business product

b

Sanders Inc. is a multinational company that specializes in manufacturing and selling high-end cameras. It launches a new product Lunar 5.0, and the product becomes highly successful in the market. However, this leads to a significant decline in the sales of Sanders Inc.'s other cameras. This scenario exemplifies _____. a. segmentation b. cannibalization c. personalization d. differentiation

b

Social media monitoring a. focuses on positive comments and ignores negative comments from consumers. b. can involve sentiment analysis and text mining specific key words on social networking websites. c. reduces the importance of negative comments and complaints. d. projects the positive aspects and withholds the defects of a product.

b

The _____ is a biological metaphor that traces the stages of a product's acceptance, from its introduction to its decline. a. new-product development process b. product life cycle c. concept test d. diffusion process

b

The _____ is the idea that an organization exists not only to satisfy customer wants and needs but also to preserve individuals' long-term best interests. a. promotional orientation b. societal marketing orientation c. sales orientation d. production orientation

b

The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called _____. a. customer empowerment b. customer satisfaction c. customer engagement d. customer value

b

The first step in the marketing research process is to: a. analyze the marketplace. b. identify and formulate the problem/opportunity to be studied. c. specify the sampling plan. d. plan the research design. e. collect the data.

b

The first step in the process of setting the right price is a. to estimate demand, costs, and profits. b. to establish pricing goals. c. to choose a price strategy to help determine a base price. d. to set an appropriate margin to recover operating costs.

b

Which of the following is a difference between specialty stores and full-line discounters? a. Specialty stores de-emphasize customer service, while full-line discounters focus on giving quality customer service. b. Specialty stores have the thinnest product assortments, while full-line discounters typically carry very wide assortments of merchandise. c. Specialty stores offer discounts to lure shoppers, while full-line discounters sell at prices 25 percent or more below traditional department store prices. d. Specialty stores have shallow product lines, while full-line discounters have considerably deep product lines.

b

Which of the following is a form of advertising that firms use when a product enters the growth phase of the product life cycle and other companies begin to enter the marketplace? a. Pioneering advertising b. Competitive advertising c. Comparative advertising d. Advocacy advertising

b

Which of the following statements is true of advertising campaigns? a. It allows advertising for an indefinite period of time. b. It can focus on more than one advertising appeal. c. It circumvents the need for post-advertising evaluation. d. It is the last stage of an advertising process.

b

Which of the following statements is true of competitive intelligence (CI)? a. It includes a scanner-based sales-tracking service for the consumer packaged-goods industry. b. It refers to a system that helps managers assess their competitors and vendors to become more efficient and effective competitors. c. It refers to the field of marketing that studies the body's responses to marketing stimuli. d. It includes the activities concerned with identifying and counteracting the threat to a firm's security, competitive services, and infrastructure.

b

Which of the following statements is true of convenience products? a. They are more expensive than shopping products. b. Consumers buy these products regularly, usually without much planning. c. Distribution of such products is often limited to one or a very few outlets in a geographic area. d. Marketers of convenience products often use selective, status-conscious advertising.

b

Which of the following statements is true of the Robinson-Patman Act of 1936? a. It is not applicable to the selling of commodities. b. It prevents firms from lessening competition through unfair trade practices. c. It does not apply to sellers who offer different supplementary services to buyers. d. It does not cover situations where buyers use their purchasing power to force sellers into granting discriminatory prices.

b

Which of the following statements is true of the decline stage of the product life cycle? a. Firms spend heavily on advertising to educate consumers about the product's benefits. b. The rate of decline is governed by how rapidly substitute products are adopted. c. Manufacturers undertake heavy consumer promotion because of stiff competition. d. Companies lengthen product lines to appeal to additional market segments.

b

Which of the following statements is true of the promotional mix? a. All elements of the promotional mix have the same effect on the target audience. b. It is designed to meet the needs of the target market and fulfill an organization's goals. c. The promotional mix of a company is the same for all its products. d. All elements of the promotional mix entail direct, two-way communication.

b

Who among the following has the highest purchasing power? a. Martha, whose monthly income and cost of living are $4000 and $2700, respectively. b. James, whose monthly income and cost of living are $3000 and $1500, respectively. c. Peter, whose monthly income and cost of living are $5000 and $3800, respectively. d. Stacy, whose monthly income and cost of living are $5500 and $4200, respectively.

b

_____ is an agreement between two or more firms on the price they will charge for a product. a. Anchor pricing b. Price fixing c. Price skimming d. Penetration pricing

b

_____ is defined as the coordinated effort to handle the effects of unfavorable publicity, ensuring fast and accurate communication in times of emergency. a. Audience selection b. Crisis management c. Media scheduling d. Negative campaigning

b

_____ is perhaps the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans. a. Demography b. Social change c. Machinery d. Human resource

b

_____ is the degree to which a new product is consistent with existing values and product knowledge, past experiences, and current needs. a. Complexity b. Compatibility c. Observability d. Trialability

b

_____ is the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation. a. Concept testing b. Test marketing c. Idea screening d. Business analysis

b

_____ is the price charged to customers multiplied by the number of units sold. a. Tax b. Revenue c. Dividend d. Interest

b

_____ refers to changes in a product's versatility, effectiveness, convenience, or safety. a. Style modification b. Functional modification c. Co-branding d. Family branding

b

_____ refers to consumers' responsiveness or sensitivity to changes in price. a. Status quo pricing b. Elasticity of demand c. Dynamic pricing d. Break-even analysis

b

_____ refers to the elements of the composition and appearance of a product that make it desirable. a. Place utility b. Form utility c. Time utility d. Exchange utility

b

_____ refers to the follow-up activities that a service firm might engage in after a customer transaction. a. Nonprofit organizational marketing b. Postpurchase communication c. Internal marketing d. Word-of-mouth communication

b

_____ uses the cost of buying a product from a producer, plus amounts for profit and for expenses not otherwise accounted for. a. Variable cost pricing b. Markup pricing c. Fixed cost pricing d. Break-even pricing

b

_____, also known as gadgets and badges, are software applications that run entirely within existing online platforms. a. Web apps b. Web widgets c. Tool boxes d. Microblogs

b

______ means that services are less standardized and uniform than tangible goods—there is some variability of services. a. Inseparability b. Heterogeneity c. Intangibility d. Perishability

b

c. customers are brand loyal repeat purchasers. d. the product is distributed using digital channels. Which of the following is an example of a routine buying decision? a. Latika buying a particular brand of noodles after seeing various advertisements on television b. Shaina purchasing the soap she has been using for the last 20 years c. Patrick purchasing a dishwasher after receiving detailed information about its features from the company representative d. Kevin buying a cell phone after doing extensive research about various brands on gadget websites

b

A large grocery store would like to study how consumers respond to signage in grocery store aisles. They recruit several volunteers to participate in neuromarketing research. The grocery store found that every time the volunteers saw signage that said "Buy One, Get One Free" there was a physiological response and the customer purchased the item. With this information, the grocery store should: a. remove all store signage as it is unethical to influence customers in this way. b. require all customers to wear sensors in store to measure their physiological responses. c. place more "Buy One, Get One Free" signage throughout the store to spur purchases. d. do nothing. Neuromarketing is too new of a technology to base any decisions on.

c

A(n) _____is a group of people who are considered nearly equal in status or community esteem, who regularly socialize among themselves, and who share behavioral norms. a. aspirational group b. ethnic group c. social class d. family

c

An important distribution objective for many service firms is to a. engage customers in postpurchase communication. b. simulate positive word-of-mouth communication among present and prospective customers. c. decide the number of outlets to use or the number of outlets to open during a certain time. d. define the unit of service consumption.

c

Andrew, a product developer at the industrial technology firm Magnira Solutions, has designed a new tool that has extremely high energy efficiency. The tool is proclaimed as a noteworthy invention by many researchers and scientists. In order to improve its image among its customers, Magnira Solutions tells the community in which it operates and its suppliers about the new tool's efficiency. This is an example of _____. a. sales promotion b. personal selling c. public relations d. advertising

c

Bambi & I, a manufacturer and retailer of clothing and accessories for children, sells its products at its store and on its website. It has recently unified the two channels to provide efficient and equal service to all its customers. Moreover, it has also introduced a find-in-store feature on its website that displays real-time stock information and allows customers to reserve items for pick-up from the store. This scenario exemplifies a. a drop and shop program. b. multichannel marketing. c. omnichannel marketing. d. M-commerce.

c

Brian is a blue-collar worker who works in a shipping industry. He receives a daily wage as per his working hours. Given this information, which of the following is likely to be true? a. He rates job satisfaction as the most important reason for taking a job. b. He does not utilize the Internet to make his buying decisions. c. He depends on others for economic and emotional support. d. He does not belong to the middle-class lifestyle.

c

Digich Inc., one among the first companies to manufacture digital watches in the 1970s, priced its products at a very high rate. Once other manufacturers also ventured into the market, the prices came down. In this scenario, Digich Inc. was using a price strategy called _____. a. penetration pricing b. bait-and-switch pricing c. price skimming d. status quo pricing

c

Effective strategic planning requires _____. a. incongruity b. marketing myopia c. creativity d. sporadic attention

c

How does the product life cycle concept help marketing managers? a. It shows marketers the appropriate marketing strategies to sell a new product. b. It suggests how to position a product to extend its life cycle. c. It helps marketers forecast future events and suggest appropriate strategies. d. It tells marketers the length of a product's life cycle.

c

In the _____ of the product life cycle, persuasive and reminder advertising are emphasized more strongly as competition becomes fiercer. a. introduction stage b. decline stage c. maturity stage d. growth stage

c

In the context of Internet marketing, a _____ is a carefully selected group of consumers who agree to participate in an ongoing dialogue with a particular corporation. a. face-to-face focus group b. pro-consumer system c. web community d. random sample

c

In the context of Internet usage by marketing researchers, which of the following is true of online focus groups? a. Certain groups, such as business travelers, are difficult to gather in a focus group. b. Participation rates decline as respondents pull out due to time conflicts. c. Time is flexible online allowing respondents to be gathered from all over the world. d. Respondents feel encouraged to talk more due to the lack of a moderator.

c

In the context of Internet usage by marketing researchers, which of the following statements is true of web survey systems? a. They consist of a database of respondents via a screening questionnaire on their websites. b. They are managed by people who agree to participate in online market research surveys. c. They consist of a data delivery program designed for use by nonprogrammers. d. They allow respondents to view things such as a concept statement.

c

In the context of adopters who participate in diffusion, which of the following individuals is most likely to be a part of the early majority? a. Evan, who obsesses over new gadgets and purchases them on the day they are launched in the market b. Farhan, who buys his first desktop computer when laptops and tablets are already being widely used c. Stephen, who always purchases a product after conducting an in-depth research on its pros and cons d. Mike, who buys an iPhone as all his friends own one and he does not want them to consider him poor

c

In the context of marketing strategies, which of the following statements is true of low-involvement products? a. They are bought independent of any cultural, social, individual, and psychological factors. b. As consumer buying decisions always occur in the closed environment of a store, in-store displays are ineffective. c. Consumers may not recognize their wants until they are in a store. d. They can be marketed through the same strategies adopted for high-involvement products.

c

In the context of online campaigns, which of the following statements is true of awareness? a. It includes everything from downloading a piece of content to actually making a purchase. b. It refers to the interactions between the brand and the audience. c. It is the attention that social media attracts, like the number of fans. d. It is generally used as the second step in the marketing funnel.

c

In the context of psychographic segmentation, _____ segmentation divides people into groups according to the way they spend their time, the importance of the things around them, their beliefs, and socioeconomic characteristics such as income and education. a. ethnic b. gender c. lifestyle d. family life cycle

c

In the context of the marketing mix, which of the following statements is true of promotion? a. It works independently of the other Ps of the marketing mix. b. It ensures that products arrive in usable condition at designated places when needed. c. It includes advertising, public relations, and personal selling. d. It encompasses pricing strategies for the products that are promoted.

c

In the context of the product life cycle, which of the following is true of a product's growth stage? a. Profits rise and remain at their peak throughout the phase. b. Emphasis switches from aggressive brand advertising to primary demand promotion. c. Competition intensifies as more competitors enter the market. d. Instead of stimulating demand for a specific brand, demand for the product is stimulated.

c

In the context of the strategies for selecting target markets, which of the following is a disadvantage of undifferentiated targeting? a. It leads to cannibalization. b. It increases the production and marketing costs of a company. c. It makes a company more susceptible to competitive inroads. d. It results in market segments that are too small.

c

In the context of use of primary data in marketing research, when researchers piggyback studies, they are actually a. analyzing data previously collected for any purpose other than the one at hand. b. uncovering patterns and relationships using big data. c. gathering data on two different projects using one questionnaire. d. gathering observational data about a store through a mystery shopper.

c

In the gap model of service quality, gap 3 represents the gap between a. what the company provides and what the customer is told it provides. b. what customers want and what management thinks customers want. c. the service quality specifications and the service that is actually provided. d. the service that customers receive and the service they want.

c

In thinking about relationship marketing in services, the least effective level of relationship marketing in the long term is: a. customization. b. structural. c. financial. d. social.

c

LG, a South Korean electronics company, has four divisions: Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components. In order for each of these divisions to be considered strategic business units, which of the following must be true? a. They share a single mission and target the same consumers. b. LG corporate determines resources allotted to each division. c. Each division plans independently of the others. d. The divisions share the same competitors.

c

Laelle Corp. is a supplier of various goods. It is engaged in business marketing if it sells a. chocolates to a school girl. b. electrical appliances to a newly married couple. c. wood to a boat manufacturing company. d. a laptop to a college student.

c

Laelle Shoes is a popular sports shoe manufacturing company. It funds several tournaments that take place in the country to promote brand awareness and the company's image. In this scenario, which of the following public relations tools does Lealle Shoes use? a. Crisis management b. Lobbying c. Sponsorship d. Experiential marketing

c

Lowes would like to create a do-it-yourself blog that would feature articles, new products, and instructional videos. Videos would include easy projects, such as refinishing cabinets and replacing faucets, and more difficult projects, such as building and installing a closet organization system. Lowes has just decided they would like to reach women with the new blog. These women are likely stay-at-home mothers that watch HGTV and read home decorating blogs and have an interest in emulating projects they see on TV or even on social media sites like Pinterest. Lowes is likely at what stage of creating an effective social media plan? a. Listening to customers b. Defining strategies c. Identifying the target audience d. implementing and monitoring the strategy.

c

Marketing research helps managers by a. ensuring that secondary data does not influence their decisions. b. focusing on the quantity instead of the quality of products. c. improving the quality of decision making. d. providing a single solution to all problems.

c

Martin and Marla are working parents. They intend to buy a new car for their family. In this case, their choice of car will be influenced by the a. look of the car. b. distance between their house and their offices. c. number of children in their family. d. size of their house.

c

Michael, a department store owner, wants to improve profits. In order to get customer insights for making better product mix decisions, he implements a unique personalization tool on the store's website that allows customers to share their preferences. In the given scenario, which of the following does Michael make use of? a. Cloud computing b. Retail channel omnification c. Big data analytics d. Microtargeting

c

Offshoring differs from nearshoring in that offshoring a. allows a company to make its presence known at a local level. b. allows a firm to manufacture its products more closely to major demand centers. c. results in lower labor costs and high fuel costs. d. results in companies locating stock at a large number of distribution centers thereby increasing costs.

c

Sustainable supply chain management can lead to all of the following except: a. generate cost savings. b. ensure socially responsible business practices are enacted. c. decreased employee diversity. d. protecting the planet's natural resources.

c

When all the containers and boxes of a product line have a common look while still being able to keep their individual identities, it is considered to have _____. a. equivalent quality b. brand equity c. package uniformity d. brand loyalty

c

Which of the following best defines a product line? a. It is a particular product feature that distinguishes the product from its competitors. b. It is a brand that obtains at least one-third of its earnings from outside its home country. c. It refers to a group of closely related product items. d. It refers to the value of a company or brand name.

c

Which of the following statements is true of laggards? a. They want to be opinion leaders. b. Their views about the future heavily influence their decisions. c. Their independence is rooted in their ties to tradition. d. They have a worldly outlook.

c

A nationwide restaurant chain that varies its menu based on its location is an example of what kind of segmentation: a. Usage b. Psychographic c. Demographic d. Benefits e. Geographic

e

A competitive advantage includes features such as _____. a. high prices b. prolonged delivery processes c. mediocre product quality d. excellent service

d

Americans' core value of upward mobility (i.e., success will come to anyone who works hard) has greatly influenced the way luxury goods are marketed. This phenomenon is an example of a(n) _____ factor. a. technological b. economic c. political and legal d. social e. demographic

d

Asian Americans are sometimes called a marketer's dream because they a. tend to be more open-minded about relationships than their parents. b. tend to spend more on groceries and hair care products than on technology. c. are more likely to patronize convenience, drug, and dollar stores. d. are younger, better educated, and have higher incomes than average.

d

Business needs government regulation to a. foster anti-competitive practices. b. cater to the needs of society. c. promote competition between firms. d. protect innovators of new technology.

d

Cleo is given the responsibility of gathering information about the countries where sales of cameras have been high and the reason behind customers' preference of certain cameras to others in the market. In this scenario, Cleo will need to perform the _____ role of marketing research. a. diagnostic b. predictive c. hypothetical d. descriptive

d

Consuming products that have a limited availability a. allows consumers to take their time in purchasing that product. b. offers less customer satisfaction. c. promotes the items that are always available to a niche market. d. leads to more consumer enjoyment than if the items were always available.

d

In the context of a SWOT analysis, the environmental scanning process is used to a. assess internal business operations. b. assess a firm's inner strengths and weaknesses. c. examine the requirement of organizational resources. d. identify market opportunities and threats.

d

Procter & Gamble markets six different brands of laundry detergent, each targeting a different market segment. This is an example of concentrated targeting. True False

false

Services tend to exhibit more search qualities than do tangible goods. True False

false Which of the following is NOT one of the four unique elements to services? a. Heterogeneity b. Incoherency c. Inseparability d. Perishability e. Intangibility ]b Which of the following services would be most likely to exhibit strong credence qualities? a. The repair of a leaky drain b. A math tutorial service c. Consulting services for insurance coverage d. Tax return preparation ]d

In the context of a marketing research project, which of the following statements is true of the marketing research objective? a. It is based on acquiring capital for upcoming ventures through crowdfunding. b. It is based on the goal of marketing so that large number of consumers can be attracted. c. It encourages marketing decision making without the use of any form of secondary data. d. It defines the specific information needed to solve a marketing research problem.

d

In the context of business products, which of the following statements is true of major equipment? a. Major equipment is less expensive and shorter-lived than accessory equipment. b. Portable drills, power tools, and computer software are examples of major equipment. c. Local industrial distributors play an important role in the marketing of major equipment. d. Personal selling is an important part of the marketing strategy for major equipment.

d

In the context of marketing management philosophies, a sales orientation aims at a. understanding the needs and wants of the marketplace. b. integrating all organizational activities to satisfy customer wants. c. assessing the internal capabilities of a firm. d. pushing manufacturers' products more aggressively to achieve high profits.

d

In the context of new-product development, which of the following is a global strategy adopted by many multinational corporations? a. They adopt global strategies during the commercialization stage rather than the development stage. b. They do not make any changes to a product's design to accommodate global regulations. c. Their products are common across all markets and populations. d. They develop every product for potential worldwide distribution.

d

In the context of service distribution, which of the following is a way by which service firms can improve the quality of their service? a. Using only digital channels for all their services b. Adopting a production orientation approach c. Focusing on persuading customers to avail a particular service d. Minimizing the amount of time customers wait in line

d

In the context of the effects of advertising on consumers, serious or dramatic advertisements a. are not affected by advertising response function. b. cannot be used by new brands with a small market share. c. change consumers' deeply rooted values and attitudes. d. are effective at changing consumers' negative attitudes.

d

In the context of the factors that determine the promotional mix, which of the following has a very low cost per contact? a. Public relations b. Sales promotion c. Personal selling d. National advertising

d

In the context of the marketing mix, which of the following statements is true of price? a. It does not affect competitive advantage. b. It is the starting point of a marketing mix. c. It is the least important of the four Ps. d. It can be raised or lowered by marketers.

d

In the new-product development process, which of the following statements is true of the development stage? a. Preliminary figures for demand, cost, sales, and profitability are calculated for the first time. b. A group thinks of unlimited ways to vary the product or solve a problem. c. Ideas that are inconsistent with an organization's new-product strategy are eliminated. d. The marketing department should decide on the product's packaging, branding, labeling, and so forth.

d

In thinking about the six categories of social media users, joiners can be defined as: a. those who post comments, ratings, and reviews of products and services on blogs and forums. b. those who use RSS feeds to collect information and vote for websites online. c. those who read blogs, listen to podcasts, watch videos, and generally consume media. d. those who maintain a social networking profile and visit other sites.

d

Jalot Communications Inc. conducted a thorough study to identify customer groups that need to be targeted. It came up with a detailed profile of the market and is now focusing on creating an appropriate combination of product, place, promotion, and pricing. In this scenario, Jalot Communications Inc. is working on its _____. a. divestment strategy b. mission statement c. portfolio matrix d. marketing strategy

d

Joshua, a famous movie star, has been the brand ambassador of Class Apart Watches for the past 20 years. He sports the latest edition of Class Apart Watches in all his movies. This is an example of _____. a. infomercial b. sponsorship c. advergaming d. product placement

d

Mike, a university student, is conducting a research to compare the use of e-books with that of traditional printed books. For his research, he decides to approach few of his friends who are avid readers. In this scenario, the type of sample that Mike is planning to use is known as a _____. a. random sample b. stratified sample c. cluster sample d. convenience sample

d

Milestones, a start-up job consultancy, takes the first step in the marketing funnel and decides to create a page on a social networking website that describes its services. Through this, it hopes to attract as many followers as possible. In the context of business-to-business (B-to-B) social media marketing, this first step is an example of the marketing metric of _____. a. engagement b. conversion c. review d. awareness

d

Mirange Flyer Airlines decides to conduct a research study on the satisfaction levels of its customers. It opts for an Internet survey method. It first locates a group of customers as participants for the study and asks them to log on to a specific website at a particular time. Once the participants log on to the website at the given time, an online moderator types in questions such as, "When was the last time you flew with us?" and "How would you rate our customer service?" The participants are then allowed to respond to these questions. This scenario exemplifies the use of _____. a. web survey systems b. online feedback panels c. web research programs d. online focus groups

d

Nike recently released the Air Jordan XXXII basketball shoe. This shoe style is in its 32nd iteration and would be considered: a. an addition to an existing product line. b. a repositioned product. c. a new product line. d. an improvement or revision of an existing product.

d

Perhaps the best way to address retail product or service failures is to: a. offer customers a percentage off discount. b. dimiss customer complaints. c. train employees on how to appropriately apologize to customers. d. have a plan in place to deal with any issues that may arise.

d

Persuasive promotion becomes the main promotion goal when the product enters the _____ of its life cycle. a. introduction stage b. decline stage c. maturity stage d. growth stage

d

Post Properties is a company that manages apartments in various communities. It is concerned with a glut of apartments in Atlanta, Orlando, and Dallas. Its market researcher begins by examining the rental markets in the Southeast, the history of apartment buildings, local economies, competitive rents, and ownership—all information that was on hand and did not require any new research to locate. The market researcher looked at: a. primary data. b. a statistical analysis. c. a closed study. d. secondary data. e. priority databases.

d

Powell Motors, an automobile manufacturing company, spent considerable time, effort, and money in developing a fiber-reinforced dashboard for its cars without researching customer needs. Because of the new feature, the cars manufactured by Powell Motors are priced higher than other companies' cars belonging to the same segment. The company has introduced its cars in the market with the hope that customers would like this type of dashboard and buy them despite the high price. In this scenario, Powell Motors has adopted a _____. a. sales orientation b. market orientation c. societal marketing orientation d. production orientation

d

SWOT analysis stands for: a. Strengths, Worries, Opinions, Target market b. Strategies, Weaknesses, Organization, Threats c. Skills, Wants, Objectives, Technologies d. Strengths, Weaknesses, Opportunities, Threats

d

Social news sites are useful for a. locating and navigating to different places. b. uploading, storing, and sharing personal photos. c. keeping in touch with friends, making new friends, and socializing with members on the site. d. promoting campaigns, creating conversations around related issues, and building website traffic.

d

The _____ is aimed primarily at children's products, which are defined as those used by individuals 12 years old or younger. a. Human Rights Commission b. Sarbanes-Oxley Act c. Sherman Commission d. Consumer Product Safety Improvement Act

d

The _____ seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual purchases being made. a. order fulfillment process b. demand-supply integration process c. returns management process d. demand management process

d

The intent of unfair trade practice acts is to a. give greater profits to well-established firms, which operate on low product costs and high discounts. b. impose high tax rates on the products that consumers buy on a periodic basis. c. allow sellers or manufacturers to sell perishable products below cost. d. protect small local firms from giants, which operate very efficiently on razor-thin profit margins.

d

The process of dividing a market into meaningful, relatively similar, and identifiable groups is called _____. a. fractional attribution b. market positioning c. horizontal diversification d. market segmentation

d

The process of planning, collecting, and analyzing data relevant to a marketing decision is called _____. a. strategic planning b. market segmentation c. brand analysis d. marketing research

d

The service offering can be viewed as a bundle of activities that includes the _____ service, which is the most basic benefit the customer is buying. a. supplementary b. heterogeneous c. inseparable d. core

d

Tortilla chips are most likely _____ products, since they are purchased with little shopping effort. a. specialty b. branded shopping c. generic d. convenience e. unbranded shopping

d

Treats Inc.'s advertisement for its newly launched line of frozen foods advocates that its products are organic, follow traditional recipes, and contain high-quality ingredients. The products are ideal for busy professionals who want to eat healthy and save time spent on cooking. In this scenario, Treats Inc. is a. using comparative advertising. b. employing institutional advertising. c. advertising the attributes of its products. d. advertising the benefits of its products.

d

Unlike newspaper advertising, in magazine advertising a. the pass-along rate is low. b. the advertiser commitment is short. c. the color capabilities are low. d. the cost per contact is usually high.

d

Vilante Corp., a television manufacturing firm, observes that its profits are declining because of slow sales. Therefore, it begins to promote the product to its consumers and dealers to maintain its market share. To distinguish its products from its competitors, it redesigns its television models stylistically. It also increases the product warranty from one year to three years. In this scenario, Vilante's products are in the _____ stage of the product life cycle. a. decline b. introductory c. growth d. maturity

d

Wallace Inc., a stationery manufacturing firm, analyzed the purchasing patterns of its customers and segregated customers according to their frequency of purchase. From the data, it was inferred that the customers who made frequent purchases contributed the most to the firm's revenue. In order to retain valuable customers and build good relationships with them, Wallace Inc. started providing them with customized services. In the context of business processes, this scenario is an example of a. product development and commercialization. b. customer service management. c. demand management. d. customer relationship management.

d

Which of the following advertising objectives correctly uses the Defining Advertising Goals for Measured Advertising Results approach? a. Décor Arts aims to use 10 ecofriendly methods to convey the message of keeping the environment clean. b. Puddings and Desserts Inc. aims to boost the sales of its packaged confectionery division. c. Krunch Cookies wants to entertain its customers with a humorous ad featuring children enjoying its products. d. Fuel On Inc. aims to achieve a 10 percent increase in the sales of its sports drinks among teenagers within 12 months.

d

Which of the following defines gamification? a. It is the process of offering free game kits along with specific sporting goods. b. It is the process of promoting products using outdoor games such as soccer. c. It is the process of using pop-up advertisements while playing a virtual game on the Internet. d. It is the process of using game mechanics and a gaming mindset to engage an audience.

d

Which of the following is true of the retail operation model of a specialty shop? a. It focuses on carrying wide assortments of merchandise that are fairly shallow. b. It requires retail managers to keep a lower amount of floor stock and back stock. c. It de-emphasizes customer service and product selection in favor of lower prices. d. It uses a high-service approach that is supported by an agile approach to inventory.

d

Which of the following most clearly reveals the relationship between the target market strategy of a service and its distribution strategy? a. Number of outlets b. Convenience c. Scheduling d. Location of a service

d

Which of the following refers to subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services? a. Sales promotion b. Social media c. Integrated marketing d. Social commerce

d

Which of the following scenarios represents the role of social media in consumer information search? a. Clara seeks the opinions of her colleagues to help her decide whether to buy a car or a bike. b. Bennett uses a discount coupon that he received in his email to buy a product of his choice. c. Xavier buys a new set of furniture after watching an advertisement about it on the television. d. Jennifer actively participates in an online forum that discusses about new electronic products.

d

Which of the following statements best defines a competitive advantage? a. It is a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other. b. It is the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance. c. It is a strategy that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message. d. It is the set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

d

Which of the following statements best defines social news sites? a. They are websites that serve as a virtual rolodex, providing recruiters and job seekers alike a network to connect and conduct business. b. They are websites that are sponsored by a company or one of its brands and maintained by one or more of its employees. c. They are websites that set a specific limit on the length of posts written by its members. d. They are websites that allow users to decide which content is promoted on a given website by voting that content up or down.

d

Which of the following statements defines a supplementary service? a. It is a service with consistent inputs and outputs. b. It is a service that can be stored or inventoried. c. It is the most basic benefit a customer is buying. d. It is a group of services that supports or enhances the core service.

d

Which of the following statements is true about the effects of advertising on consumers? a. Advertising cannot instill brand loyalty among customers. b. Advertising can change consumers' deeply rooted values and attitudes. c. Humorous ads are ineffective at shaping attitudes of customers. d. Advertising reinforces positive attitudes toward brands.

d

Which of the following statements is true of marketing research? a. It lacks the ability to provide decision makers with insights for any required changes. b. It is the best marketing strategy to predict consumer behavior. c. It guarantees the availability of reliable data. d. It provides data on the effectiveness of the current marketing mix.

d

Which of the following statements is true of new brands with a small market share? a. They spend less than their competitors because the effect of advertising is minimal regardless of the cost. b. They are not susceptible to the advertising response function. c. They do not incur losses in the first five years of entering the market. d. They tend to spend proportionately more for advertising and sales promotion than those with a large market share.

d

Which of the following statements is true of the business market in the United States? a. In the business market, a single customer cannot account for a huge volume of purchases. b. Business markets sell goods and services for personal consumption. c. The key characteristic distinguishing business products from consumer products is physical form. d. The size of the business market exceeds the size of consumer markets.

d

Which of the following statements is true of the evaluation of the quality of services? a. Services tend to exhibit more service qualities than goods. b. Services carry less experience qualities than goods. c. Services can be quantified and stored to preserve their quality. d. Services tend to exhibit more credence qualities than goods.

d

Which type of consumer sales promotion rewards loyal consumers for making multiple purchases of a particular good or service? a. A continuity program b. An 80/20 program c. A net worth program d. A frequent buyer program e. A premium program

d

_____ is the managerial process of creating and maintaining a fit between an organization's objectives and resources and the evolving market opportunities. a. Enterprise modeling b. Business networking c. Divesting d. Strategic planning

d

_____ is the series of decisions advertisers make regarding the selection and use of media, enabling the marketer to optimally and cost-effectively communicate the message to the target audience. a. Product placement b. Advergaming c. Media-resource analysis d. Media planning

d

_____ pricing focuses on the worth of a product to a consumer more than the cost of the product to a supplier. a. Revenue-oriented b. Bundle c. Operations-oriented d. Value-based

d

_____ processing describes services that use technology or brainpower directed at a customer's assets. a. People b. Possession c. Mental stimulus d. Information

d

_____ refers to the description and estimation of the size and sales potential of market segments that are of interest to a firm and the assessment of key competitors in these market segments. a. Marketing brief b. Perceptual mapping analysis c. Mission statement d. Market opportunity analysis

d

_____, an American value that strongly influences attitudes and lifestyles, states that every person should stand on his or her own feet. a. Upward mobility b. Achievement orientation c. Individualism d. Self-sufficiency

d

______ within the marketing channel can provide efficiencies and economies of scale as channel members take on tasks that best utilize their expertise or strategic relationships. a. Overcoming temporal discrepancies b. Overcoming quantity discrepancies c. Addressing assortment issues d. Specialization or Division of labor e. Decreasing the distance between producers and customers

d

________ is a form of distribution aimed at having a product available in every outlet where target customers might want to buy it. a. Cumulative b. Multiple c. Aggregated d. Intensive e. Exclusive

d

Coca-Cola vending machines are found all over the world. The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink. Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products. In terms of a SWOT analysis, this concern would be an example of a(n): a. threat. b. strength. c. advantage. d. weakness. e. opportunity.

a

Harlose Inc. is a company that manufactures apparel for men and women. The company focuses on creating customer value. In this case, Harlose Inc. can a. customize its products according to customers' requirements. b. produce unrealistically expensive but high-quality products for its customers. c. engage in aggressive advertising to enhance its sales and profits. d. inhibit cocreation as it might compromise product quality.

a

In the context of on-demand marketing, which of the following statements is true of market-oriented firms? a. They seek to make a profit by creating customer value and customer satisfaction. b. They emphasize on closing a deal rather than developing a long-term customer relationship. c. They emphasize on convincing potential customers to buy unwanted products. d. They lay minimum emphasis on customer relationship management.

a

Shelby is looking to purchase a new car. She knows from her marketing class, that she should research the different models she is interested in and evaluate the alternatives before making such a large purchase. This demonstrates which reason to study marketing? a. Marketing is part of everyday life b. Marketing is important to businesses c. Marketing plays an important role in society d. Marketing offers outstanding career opportunities

a

The _____ states that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives. a. marketing concept b. production orientation philosophy c. promotion orientation philosophy d. sales concept

a

The term _____ is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. a. marketing b. divesting c. investing d. self-dealing

a

To increase sales of its low-fat pizzas in its established market, Dietizza is offering discounts on all its pizzas. According to Ansoff's strategic opportunity matrix, Dietizza has adopted the _____ alternative. a. market penetration b. product diversification c. market development d. divestment

a

When a firm provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition, a _____ exists. a. product/service differentiation competitive advantage b. production competitive advantage c. niche competitive advantage d. cost/revenue competitive advantage

a

Which of the following statements is true of a SWOT analysis? a. It focuses on organizational resources when examining internal strengths and weaknesses. b. It concentrates on maintaining the quality standards of a firm's products and services. c. It outlines the major goals and the mission statement of a business. d. It adds to a firm's marketing myopia.

a

Which of the following are true of marketing? Check all that apply. a. It is a philosophy or perspective that stresses customer satisfaction. b. It entails processes that focus on delivering value and benefits to customers. c. It involves building long-term, mutually beneficial relationships. d. It focuses solely on selling the goods, services, or ideas that the company produces.

a, b, and c

All of the following are reasons for failing to achieve a marketing objective except: a. poor implementation. b. objectives were too specific. c. unrealistic marketing objectives. d. changes in the environment.

b

Carefully stated objectives serve all of the following functions except: a. serve as a motivator for employees to work towards. b. allow managers to set ambiguous goals with room for adjustment. c. communicate the firm's overall philosophies and objectives. d. serve as the basis for control to which managers will measure objective performance.

b

Collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan is called: a. SWOT analysis. b. environmental scanning. c. competitive advantage. d. cost competitive advantage.

b

In the context of the marketing mix, distribution strategies are concerned with a. advertising and organization of a product in order to promote sales. b. making products available when and where customers want them. c. informing and educating target markets about products. d. what a buyer gives up in order to obtain a product.

b

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as _____. a. customer loyalty b. customer value c. value pricing d. opportunity cost

b

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as: a. an exchange. b. customer value. c. customer satisfaction. d. sacrifice.

b

Which of the following is not true about effective strategic planning? a. Strategic planning is effective when it is based on creativity. b. Strategic planning should be done on a yearly basis. c. Effective strategic planning requires the support and participation of top management. d. Constant monitoring of the firm's environment is helpful in effective strategic planning.

b

Which of the following statements is correct about a niche strategy? a. It removes frills and options from a product or service. b. It is suitable for small companies with limited resources. c. It is opted in a market segment that has low-growth potential. d. It aims at being the low-cost competitor in an industry.

b

Which of the following statements is true of a mission statement of an organization? a. A firm's mission statement establishes boundaries for only the objectives being set. b. A mission statement should focus on the markets the organization is attempting to serve. c. A firm's mission statement does not establish perimeters for organizational strategies. d. A mission statement should concentrate on the goods or services offered by the organization.

b

Which of the following statements is true of the marketing concept? a. It focuses on short-term sales goals rather than long-term organizational goals. b. It focuses on the importance of understanding customers and competition. c. It believes that marketing means selling things and collecting money. d. It overlooks the legal responsibilities of companies.

b

Which of the following statements is true of firms that succeed in competitive markets? a. They focus on what the management thinks should be produced. b. They hope that the product they produce is something that customers want. c. They first determine what customers want and then produce it. d. They believe that using aggressive sales techniques are sufficient to gain high profits.

c

In the context of on-demand marketing, which of the following statements is true of sales-oriented businesses? a. They place high premium on developing a long-term relationship with the customer. b. They make a profit by creating customer value and providing customer satisfaction. c. They try to convince potential customers to buy, even if the customer and product are mismatched. d. They recognize that different customer groups want different features or benefits.

c

In the context of relationship marketing, which of the following statements is true of employees who are empowered? a. They lack the power of solving customer problems. b. They tend to take less risks. c. They develop ownership attitudes. d. They refrain from dealing directly with customers.

c

In the context of the marketing mix, _____ is often the most flexible of the four Ps—the quickest element to change. a. promotion b. product c. price d. place

c

In the context of the marketing mix, the goal of distribution strategies is to a. determine appropriate prices for products taking into consideration the prices of competitors' products. b. advertise products or services. c. ensure that products arrive in usable condition at designated places when needed. d. identify market segments.

c

Strategic planning: a. evaluates a firm's marketing activities and strategies using metrics and compares results with the goals or standards set for the market activities. b. requires managers to set short-term goals to increase market share. c. is the process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. d. involves integrating all of the promotional and marketing tools the firm plans to use to market their products and services.

c

Which of the following activities is not correct about the marketing concept? a. Implementing effective and high-quality sales techniques to sell goods and services. b. Integrating all the organization's activities to satisfy customer wants. c. Focusing on internal capabilities rather than on customer wants and needs. d. Satisfying customer wants and needs legally and responsibly.

c

Which of the following indicates the focus of a production-oriented firm? a. Enhancing individuals' and society's long-term best interests b. The needs and wants of the customers c. The internal capabilities of the firm d. Aggressive sales techniques

c

Which of the following statements is a difference between a production orientation and a sales orientation? a. A production orientation endorses marketing as a means of selling things and collecting money, while a sales orientation endorses marketing as a means of fulfilling a firm's short-term goals. b. A production orientation focuses on using aggressive techniques to gain customers, while a sales orientation focuses on a firm's resources to build a better product. c. A production orientation focuses on the internal capabilities of a firm, while a sales orientation focusses on increasing a firm's profits by using aggressive advertisements. d. A production orientation displays a lack of understanding of the marketplace, while a sales orientation has a good understanding of the needs and wants of the marketplace.

c

Which of the following statements is a difference between market-oriented personnel and sales-oriented personnel? a. Market-oriented personnel are occupied with organizational needs, while sales-oriented personnel keep their focus on customers. b. Market-oriented personnel target its products to everybody, while sales-oriented personnel target its products to specific groups of people. c. Market-oriented personnel tend to have an external focus, while sales-oriented personnel tend to be inward looking. d. Market-oriented personnel focus on the production of goods and services, while sales-oriented personnel focus on the benefits of the products its customers seek.

c

Which of the following statements is true of a market opportunity analysis? a. It is limited to analyzing the pricing strategies of a company. b. It excludes information about competitors operating in the market. c. It is used to identify the market segments a company needs to focus on. d. It provides an assessment of the internal environment of a firm.

c

Which of the following statements is true of a market-oriented organization? a. It always offers customers everything that they want. b. It seeks to achieve profitability through sales volume, convincing potential customers to buy. c. It develops programs that bring about mutually satisfying exchanges between selective groups. d. It assumes that all customers want the same features and benefits.

c

Which of the following statements is true of the role of marketing in a society? a. Marketing is just a job done by people in a marketing department. b. Marketing offers lesser career opportunities compared to all other domains. c. Marketing makes food available in desired quantities at accessible locations. d. Marketing makes products inaccessible to low-income customers.

c

Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conducted a thorough research about customer requirements. The company also studied the quality of its competitors' smart bulbs. Based on these insights, we can conclude that Widget Corp. designed smart bulbs that it feels can be clearly distinguished from other brands. Widget Corp. most likely has a _____. a. sales orientation b. promotional orientation c. market orientation d. production orientation

c

_____ is a strategy that focuses on keeping and improving relationships with current customers. a. Commitment selling b. Transactional marketing c. Relationship marketing d. Organization-customer synergy e. Market engineering

c

In the context of Ansoff's strategic opportunity matrix, which of the following statements is true of the market penetration alternative? a. It is riskier than other alternatives in Ansoff's strategic opportunity matrix. b. It creates new uses for old products manufactured by an organization. c. It decreases product quality to offer products at low prices. d. It tries increase market share among existing customers.

d

In the context of relationship marketing, which of the following statements is true of empowerment? a. It refers to getting trained in customer service as an employee of a firm. b. It refers to working together as cooperators instead of competitors. c. It refers to the innate ability of building relationships with customers. d. It refers to having the authority to solve customer problems on the spot.

d

Magnira Corp., an online fashion retailer, frequently takes design submissions from its users, evaluates them, and produces the ones that most closely fit the seasonal look. It focuses on its customer's needs and on what its competitors offer. In this scenario, Magnira Corp. has adopted a _____. a. sales orientation b. production orientation c. promotional orientation d. market orientation

d

Omega Inc. offers a wide range of home appliances. The company's main objective is to promote its products aggressively so that it gains high profits. Omega Inc. employs a team that is specifically assigned with the task of ensuring that a large number of products are sold. In this scenario, Omega Inc. is most likely to be a _____ firm. a. production-oriented b. market-oriented c. cause-oriented d. sales-oriented

d

A firm that wants to develop a deeper understanding of its customers may optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups. This is _____: a. sales orientation. b. sales maximization. c. social orientation. d. customer optimization. e. customer relationship management.

e

Arizona Tea is marketed by Vultaggio & Sons. Vultaggio & Sons took a basic drink and put it into unusual bottles with elaborate designs. The wide-mouthed, long-necked bottles are now considered to be trendsetters in the new age beverage industry, and customers often buy the tea just for the bottle. The success of Arizona Tea is based on: a. a cost competitive advantage. b. reengineering. c. supply-demand curves. d. a heterogeneous marketing strategy. e. a product differentiation competitive advantage.

e

Earl is starting a new bank. Before the opening day, Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years, and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank's: a. reengineering. b. strategic contingency. c. financial analysis. d. hierarchical restructuring. e. marketing plan.

e