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MKTG 431 SFSU Finals Set

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

The main advantage of primary data is that? Select one: a. It is less expensive than survey data. b. It addresses your specific research question. c. All of these are advantages of primary data collection. d. It is more convenient than secondary research. e. It will be error free.

The major advantage of secondary data is that? Select one: a. It answers your specific research question b. It is immediately available. c. Gives you control over the methodology d. It is up to date e. It is external to the organization

Which of these is an example of noise as it applies to the basic communication model?

All of these are examples of noise in the basic communication tool

Which of the following is an inside sales job?

All of these are inside sales jobs

An example of a retailer whose merchandise mix is both broad and deep.

Amazon

____________ is an example of a retailer whose merchandise mix is both wide and deep?

Amazon

Huyen wanted to answer the research question, "what causes students to be unhappy with Marketing 431". Because nobody had done any research even remotely related to this particular question, Huyen needed to collect __________ data? Select one: a. Random b. Primary c. Pseudo d. Secondary e. Experimental

The four 'P's are? Select one: a. A tool marketers use to create exciting advertising campaigns. b. The marketing mix variables we use to create need-satisfying offerings. c. The final phase of the marketing concept d. A formula for creating successful new products. e. All of these

The four 'P's are? Select one: a. Product, people, positioning, profits. b. Product, price, place, and promotion c. Bashful, Doc, Dopey, Grumpy, Happy, Sleepy, Sneezy. d. Product, positioning, promotion and packaging. e. Product, potential, peripherals and purchase.

The goal at the ______________ stage of the product life cycle is to build market share and differentiate the product. Select one: a. Rebirth b. Growth c. Introductory d. Maturity e. Decline

The grade for this class is based on: Select one: a. All of these things. b. Multiple choice tests c. Attendance d. Participation e. Essay tests

The last group in the diffusion of innovations process, non-adopters, represent people who will never buy the new product. Why is it important to remember this group when dealing with new product introductions? Select one: a. Because it is fun to say there are 6 stages in a 5 stage process. b. Because you need to take these people into account in order to understand the true market potential for your new product. c. because these people may be converted to customers if the word of mouth or 'buzz' about the new product is good enough. d. Because these people can be converted to late adopters if you change your advertising method. e. Because these people will be the innovators for the next generation of the new product.

The last stage of the market research process involves all of the following EXCEPT? Select one: a. These are all activities associated with the last stage of the market research process. b. Submitting expense reports c. Acting on the findings of the research d. Evaluating the quality of the decision

When making purchases, it really doesn't matter how you feel emotionally. Select one: True False

False

When retrieving memories, most people access the exemplar and up to two additional memories in the category. Select one: True False

False

You must be registered in section 1 of Marketing 431 to be allowed to attend the live lectures. Select one: True False

False

The premise behind sales teams is that?

It is difficult to find one person who has all of the skills it takes to be a good salesperson

The premise behind sales teams is that?

It is difficult to find one person who has all of the skills it takes to be a good salesperson.

Which of these statements about viral marketing is TRUE?

It is impossible to predict whether or not something will go viral

The two major costs associated with an advertising campaign are?

Media, creative

During the ________ stage of the personal selling process, it is important to learn as much about the customer as time and money allow you to do?

Pre-approach

Presentation

When using the consultative approach to selling, the first part of the _____________ stage of the personal selling process involves asking a series of questions so that the salesperson can understand the customer's needs? Select one: a. Prospecting b. Approach c. Follow-up d. Pre approach e. Closing f. Presentation

Presentation

One of the ethical issues in marketing is that data mining techniques where information from several databases is combined may be a violation of a customer's ___________?

Privacy

The VALS system identifies eight consumer segments based on (1) ____________ and (2) _______________? Select one: a. Primary motivation, personality type b. Psychographic, buying patterns c. Primary motivation, resources d. Primary motivation, secondary motivation e. Psychographic, demographic

The _________________ is a concept that explains how products go through four distinct stages from birth to death. Select one: a. Heimlich maneuver b. Adoption process. c. Product life cycle. d. Diffusion process. e. marketing perspective

When are the mini tests due? Select one: a. When they are posted b. The mini tests are available until the last day of instruction c. After the material has been presented in class d. At the end of the semester e. At the end of the two-week period they are available

The "look and feel" or design of an e-commerce website is especially important during the evaluate alternatives stage of the consumer buying process. Select one: True or False

True

The "trickle up" theory suggests fashion trends originate with lower classes and migrate upward. Select one: True False

True

The basic elements of store architecture are pretty much the same today as they were 200 years ago.

True

The goal of positioning is to have your product become the exemplar for its category. Select one: True False

True

The purpose of the purchase determines the amount of effort a person will put into the decision. Select one: True False

True

There are 13 mini tests.

True

There is no such thing as a price that is too high if someone is willing to pay it. Select one: True False

True

There is no such thing as a purely tangible or a purely intangible product. Select one: True False

True

Traffic that comes from paid search can improve organic search rankings.

True

Volunteers are a tool not-for-profits can use to promote the organization. Select one: True False

True

When reporting on research in the mass media, reporters emphasize the parts of the research that make for a good story. Select one: True False

True

You don't have to have a product that appeals to everyone in order to have a successful business. Select one: True False

True

Which of these stores might want to locate next to each other in order to increase traffic for both of them?

Two automobile dealerships

Which of these stores might want to locate next to each other to increase traffic for both of them?

Two automobile dealerships

When dealing with order processing, there is a trade-off between ____________ and ____________? Select one: a. Speed of delivery, cost b. Financial cost, risk-related costs c. Transaction costs, inventory levels d. Storage, distribution intensity e. Speed of delivery, damage

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. It is the role of the service provider to? Select one: a. Create a positive impression on the customer. b. Direct the customer through the service. c. All of these are the role of the service provider. d. Make the initial contact with the customer.. e. Get information from the customer.

Which of the following conditions make it favorable for a retailer to launch a store-brand? Select one: a. The retailer also sells manufacturer's brands b. The retailer has filed for bankruptcy and can no longer afford national brands. c. The retailer has a solid reputation for quality products d. The retailer has a very small advertising budget e. The retailer does not sell manufacturer's brands

Which of the following is NOT a functional benefit of packaging? Select one: a. Meeting intermediary needs. b. Keeping the product dry. c. Acting as a silent salesperson d. Protecting the product e. Allowing the retailer to display the product on store shelves

Which of the following is NOT a social influence on the consumer buying process? Select one: a. Social Class b. Reference Groups c. Personality d. Culture e. Family

Which of the following is NOT a source of internal data used in a marketing information system? Select one: a. Cost information b. Customer service logs c. Google searches d. Sales data e. Scheduling information

Which of the following is NOT a typical application of data mining as discussed in class? Select one: a. Customer acquisition b. Customer abandonment c. Product abandonment d. Customer retention e. Market basket analysis.

Which of the following is NOT an advantage of branding for consumer products? Select one: a. You can create a barrier to entry for other competitors b. A successful brand is an intangible asset. c. Once a brand has been established, you do not have to maintain it d. A brand can be an assurance of quality for a customer e. There is an opportunity to leverage the brand through licensing or co-branding.

Which of the following is NOT an issue typically addressed in developing a channel strategy? Select one: a. Market Coverage b. After-sale service c. Advertising d. Service level e. In-stock levels

Which of the following is NOT one of the levels of attributes customers use to evaluate service quality? Select one: a. Experience attributes b. Search attributes c. Intangible attributes d. Credence attributes e. These are all dimensions of service quality.

Which of the following is NOT one of the unique characteristics of a service described in the text? Select one: a. Intangibility b. Inseparability c. Invisibility d. Perishability e. Variability

Which of the following is a condition necessary for an exchange to occur? Select one: a. There must be a business relationship. b. Face to face meeting. c. There must be at least two parties involved. d. The products must be of equal value. e. A person must be at least 18 years old (in the United States)

Which of the following is a condition necessary for exchange to occur? Select one: a. The products must be of equal value. b. A winner and a loser. c. A means of communication. d. A requirement that an agreement will be reached. e. A business license.

____________ in the diffusion of innovations process are less influenced by advertising and more likely to consider word of mouth information when deciding to adopt a new product. Select one: a. Laggards b. Early majority c. Late majority d. Late adopters e. Innovators

_____________ include retail and wholesale businesses. Select one: a. Industrial Markets b. Institutions c. Resellers d. Governments e. Facilitators

A ___________ is a distinctive mode of presentation or performance? Select one: a. Attitude b. Fashion c. Feature d. Style e. Attribute

A ____________ is a set of values, ideas and attitudes that are shared among members of a group. Select one: a. Attitude b. Market c. Personality d. Culture e. Decision

A _____________ is a statement that a product is fit for the purpose being claimed and describing what the seller will do if the product performs below expectations or is defective? Select one: a. Liability b. Label c. Warning. d. Warranty e. Brand promise

A _____________ sample means that every person in the population of interest has a known chance of being included in the research. Select one: a. Intercept b. Convenience c. Snowball d. Probability e. Biased

Doc Robertson Designs is a high end fashion boutique for professional men. As part of their data mining program, they identified customers who had spent more than $1,000 on merchandise in the past and who had not made a purchase in the past 18 months. These customers were invited to an invitation-only sales event where they could purchase anything in the store for 35% off. This is an example of using data mining for _________? Select one: a. Market basket analysis b. Customer acquisition c. Customer abandonment d. Customer retention e. New product development

During the _____________ stage of the fashion cycle, mass produced fashions are available at lower prices. Select one: a. distinctiveness b. excitement c. emulation d. economic

Which of the following is NOT a good source of information to use in understanding your current market position? Select one: a. A SWOT analysis. b. The results of market research studies. c. Complaints from unhappy customers. d. Self knowledge e. Critical articles published in newspapers.

Which of the following is NOT a motive for a business customer to purchase a product? Select one: a. To ensure that the products the firm uses meet the end user's quality requirements. b. To be able to demonstrate she is the best purchasing agent in the company. c. To do business with a salesperson whom the buyer has come to respect and considers to be a friend as well as a business associate. d. To negotiate a price so low that the supplier actually loses money on each transaction. e. To maximize profits for the firm.

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________? Select one: a. Stop advertising the product. b. Divest the product. c. Harvest the product d. Skim the product. e. Introduce incremental innovations

One of the challenges we face in managing services is that both the customer and the service provider work together to create the service. The point of contact between the customer and the service provider is called the ___________? Select one: a. Moment of truth b. Service Zone c. Introduction d. Commercial interface e. Service encounter

One of the main ADVANTAGES of a questionnaire for collecting data is? Select one: a. You have control over what the person is doing when completing the questionnaire b. Allow you to ask follow-up questions c. Good at capturing exactly what people want to say. d. Response rates are usually very high. e. The data is easy to tabulate

The LOWER the ___________ the more likely people will be to adopt your new product? Select one: a. Observability b. Trialability c. Relative advantage d. Compatibility e. Complexity

The ____________ approach to new product pricing sets prices high in order to recover development costs more quickly? Select one: a. Trial pricing b. new and improved c. Variable price d. Penetration e. Skimming

The central level of the levels of the product concept consists of: Select one: a. The bundle of tangible and intangible attributes that satisfy a consumer's need b. These are all related to the central layer of the layers of the product concept. c. The consumer's internal motivation for purchasing a product d. The tangible component of the product offering. e. The core benefit that a consumer will get from the product.

When a new product is being adopted by the ____________ , you could say it has reached the mass market. Select one: a. Late adopters b. Early adopters c. Innovators d. Late majority e. Early majority

If I were scanning the _____________ environment, I would be interested changes in the consumer confidence index?

Economic

Search engine operators seek community input when developing the criteria for organic search rankings to ensure the results from a search are relevant to the user.

False

_____________ is(are) the systematic gathering, recording, and analyzing data with respect to a specific customer group in a specific geographic area? Select one: a. Segmentation b. Marketing c. Marketing analytics d. Marketing fundamentals e. Market research

Stereotyping is a useful tool to use when creating segments based on ethnicity. Select one: True False

False

Telemarketing is an inexpensive retail format for relationship marketing.

False

The "trickle down" theory suggests fashion trends originate with lower classes and migrate upward. Select one: True False

False

The Federal government has the primary responsibility for regulating business in the United States.

False

_____________ looks at how new products are adopted by entire populations. Select one: a. Cognitive dissonance b. New product development process c. Trickle across theory d. Adoption process e. Diffusion of innovations

_____________ refers to the number of product lines in a company's product mix. Select one: a. Market basket b. Scope c. Count d. Depth e. Width

The fact that people different people might use the same product for different reasons is a problem when it comes to segmentation based on buyer behavior. Select one: True False

False

The intent of federal price regulation is to discourage excessive competition. Select one: True False

False

Under the Robinson-Patman act, it is considered price discrimination to charge different customers different prices for the same product in consumer markets. Select one: True False

False

Up until 2006, it was legal for manufacturers to dictate the prices at which retailers can sell their products. Select one: True False

False

When a customer actually purchases a new product for the first time, we can say that person has adopted the product. Select one: True False

False

In class, we discussed several approaches to establishing a promotions budget. Which of these approaches is generally the best one to use? Select one: a. Competitive parity b. All you can afford c. Objective task d. Percent of sales e. Delphi method

c. Objective task

When developing contingency plans, your textbook recommends developing a minimum of _______ contingencies? Select one: a. 4 b. 5 c. 2 d. 3 e. 1

d. 3

In order to be useful, criteria used to measure progress toward a goal should be all of these EXCEPT? Select one: a. Objective b. Quantifiable c. Relevant d. Adaptable e. Timely

d. Adaptable

The objective at the top of the sales funnel is...?

Lead acquisition

Which of the following media is the richest information channel?

Face to face conversations

Most new products are successful, at least for a short while. Select one: True False

False

Omni-channel marketing creates a unique user experience for each device a customer may have.

False

Research has shown that the influence of family on the consumer buying process is very strong. This is because many of the consumption patterns we have for products are formed by the time we are ____ years old? Select one: a. 1 b. 5 c. 35 d. 24 e. 16

Which of the following statements about organic search is TRUE?

90% of clicks go to organic search results.

A ______________ or _______________ is usually the property of the business that manufactures a product? Select one: a. Manufacturer's brand, producer brand b. Generic brand, no-name brand c. Brand name, service mark. d. Private-label brand, distributor brand e. Trade name, trademark

A _______________ is an actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior? a. Reference group b. Buying center c. Personality d. Consideration set e. Attitude

A marketing channel helps to create ______ utility? Select one: a. Place b. Electric c. Image d. Form e. Time

A(n) _____________ specifically excludes things, such as damage caused by the customer, from warranty coverage? Select one: a. limited warranty b. liability c. lack of accountability d. express warranty e. implied warranty

A(n) ______________ targeting strategy develops more than one distinct marketing mix? Select one: a. Multisegment b. Pretentious c. One-to-one d. Concentrated e. Undifferentiated

A(n) ________________ is the container used to protect, promote, transport, and/or identify a product. Select one: a. Package b. Instruction manual c. Wrapper d. Master pack e. Box

According to diffusion of innovations theory, the first 2.5% of the population to adopt a product are called __________? Select one: a. Innovators b. Early Adopters c. Early majority d. Laggards e. Suckers

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile. Select one: a. All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile. b. Because the Prius is more expensive than comparable cars that are not hybrids so it would not appear to be as favorable if a customer chose price as the evaluation criterion. c. Because the company naturally wants customers focus on attributes where their product has an advantage over competitive products. d. Because one of the advantages of owning a hybrid car is that you use less gasoline. e. Because it encourages consumers to use fuel economy as an evaluation criterion. The Prius compares very favorably to other cars on the basis of fuel economy.

Before you can measure the quality of a service, you need to understand? Select one: a. What the customer expects from the service. b. Social metrics c. What the training program for employees was intended to accomplish. d. Process versus outcome measures e. Whether there are contingency plans in place.

Bruce Company is a small startup with just enough money in the bank to get it through the end of the month. Which market entry strategy might work best for Bruce Company? Select one: a. First mover strategy, it is riskier and Bruce Company has little to lose if it doesn't work out. b. Testing the waters, Bruce Company should spend more time in the test market stage of the new product development process before attempting to commercialize an unproven product. c. Third mover strategy, Bruce company should wait until there are two competitors in the market and then pursue a niche strategy during the growth stage. d. Second mover strategy, it would be smarter to let a well capitalized company introduce the product and once it was established, Bruce Company could safely imitate it. e. Wait and see approach. Bruce Company cannot afford to make a mistake so they should wait until they are sure the product will be successful before entering the market.

Bruce decided to add Apple Pay as an option for the customers who regularly buy coffee at his coffee shop. From a levels of the product perspective, this would be an example of...? Select one: a. the augmented product b. the core benefit c. add-on service d. a product extension e. the actual product

Bruce is trying to contact the purchasing agent for Starbucks Coffee in order to sell them his new "Bruce's Blend" of coffee. However, each time he calls the buyer, he gets a receptionist who asks him his name and then forwards his call to the buyer's voice mail. This has happened several times now and Bruce is beginning to think that the buyer will never call back. The buyer's receptionist performing the role of _________? Select one: a. Gatekeeper b. Buyer c. Decider d. Influencer e. user

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union and bought a big bowl of ice cream. In terms of product classification, ice cream could best be described as a(n) for Bruce? Select one: a. non-durable good b. High calorie product c. Business good. d. Impulsive product e. durable good.

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. He noticed that he could buy ice cream for $3 including tip. He thought that he could save a lot of money if he had a refrigerator in his office. They are sort of expensive and take up space so he would probably have to do some looking. He went online and found a number of small refrigerators. Armed with the information about what should be available and what a good price would be, he stopped at three appliance stores before selecting a refrigerator for his office. In terms of product classification, a refrigerator is a(n) for Bruce? Select one: a. Shopping product b. Specialty product c. Unsought product d. Convenience product e. Sought product.

BruceCo is a company that makes products for the coffee industry. Each summer, they hire a research intern from San Francisco State University to develop an industry forecast using information published by the US Department of Commerce and other government agencies. This is an example of _____________ in a marketing information system? Select one: a. Acquired databases/internet b. Internal information c. Marketing intelligence d. Computer hardware and software e. Decision makers

BruceCo is a company that makes products for the coffee industry. They subscribe to IRI's (Information Research incorporated) marketwatch newsletter to help them understand what is happening with coffee in retail stores. This is an example of _____________ in a marketing information system? Select one: a. Syndicated reports b. Computer hardware and software c. Internal information d. Decision makers e. Blogs

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. What type of wholesaler would BruceCo be considered? Select one: a. A broker who negotiates deals with any customer who wishes to purchase what BruceCo is trying to liquidate. b. A direct channel, selling to customers through a company website, charging $10 shipping and handling for ground delivery and $20 shipping and handling for rush delivery. c. A manufacturer's representative to call manufacturing businesses send the orders into BruceCo. d. A distributor who carries a variety of products and sells to a variety of customers. e. A regional warehouse which keeps inventory nearer to the customer.

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. How many backpacks will BruceCo have to sell in order to break even? Select one: a. 20 b. cannot be determined with this information c. 10 d. 34 e. 72

BruceCo's marketing information system is powered by a Tianhe-2 supercomputer and features a wireless intranet that is available 24/7 for any manager equipped with a company-issued smartphone. This is an example of the ___________ component of a marketing information system? Select one: a. Computer hardware and software b. Routine reporting c. Internal information d. Acquired databases/internet e. Decision makers

Caterpillar makes heavy equipment for the construction industry. These machines are used hard and need fast reliable service to keep them running once a customer has purchased one. Because of this, there is only one Caterpillar dealer in any market. This is an example of __________ distribution? Select one: a. Exclusive b. Heavy-duty c. Selective d. Intensive e. Exhaustive

Companies that have several products in the same category might use ____________ as a way to establish different positions for each product in the category in the mind of the consumer? Select one: a. a price line strategy b. penetration pricing c. multiple pricing d. prestige Pricing e. yield management pricing

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. This is the result of: a. Selective interpretation b. Natural selection c. Selective retention d. Selective attention e. Selective cognition

Every time Jiwon goes to the candy counter at the bookstore, they never have exactly what she wants and she believes that there is an opportunity to develop a candy specifically for college students. Because she is not sure what features college students look for in candy, she should conduct __________ research to better understand how college students feel about candy? Select one: a. Exploratory b. Experimental c. Pseudo d. Descriptive e. Causal

Experience has shown that customers perceive a price of $99.99 to be significantly lower than a price of $100. The pricing strategy that takes advantage of this phenomenon is called ___________ Select one: a. Odd-even pricing b. Yield management pricing c. Price bundling d. Price line pricing e. Penetration pricing.

For companies operating in an oligopoly market structure, prices tend to be very stable. In these situations, the company with the largest market share might raise its prices in hopes that other, smaller companies will follow. If this happens, the price will increase. This is called the ____________ to setting prices? Select one: a. Price leadership approach b. Price line approach c. Above or below approach d. Customary pricing approach e. loss-leader approach

For new products that have a major benefit to the customer, but the benefit is not obvious by casual inspection, ____________ becomes an important factor in whether customers will adopt the new product? Select one: a. Trialability b. All of these are important when a major benefit is not obvious by casual inspection. c. Relative advantage d. Observability e. Compatibility.

Have you ever noticed that when you fill out a warranty card after making a purchase, the manufacturer frequently asks questions such as how old you are, what your ethnicity is and how much money you earn. These questions suggest that the manufacturer is using __________ to segment the market. Select one: a. Demographics b. Satisfaction c. Geography d. Psychographics e. Buying situation

Hewlett Packard makes a variety of inkjet printers for personal computers. You can buy a basic 'all in one' printer that scans, copies and prints for less than $99. Replacement ink cartridges from Hewlett Packard cost between $30 and $60 depending on whether it is black and white or color ink. This is an example of _____________? Select one: a. Captive pricing b. Convenience pricing c. Yield management pricing. d. Price bundling e. Prestige pricing

Huyen wanted to answer the research question, "What causes students to be unhappy with Marketing 431?" Although no one had conducted research on marketing 431, there were hundreds of studies that had been done about why students are unhappy with college classes. Huyen was able to take advantage of this __________ data to answer her research question? Select one: a. Secondary b. Pseudo c. Random d. Experimental e. Primary

Huyen wanted to conduct market research to find out why students were unhappy with Marketing 431, probably the finest course ever to be offered by a university. In order to do this she needed to find people who were unhappy with the course. Figuring that these people would talk to each other, she used a sampling technique where she found one person who was unhappy with the course and, after asking her research questions, asked this person for the name of another person who was unhappy with the course. This technique is called _____________ sampling? Select one: a. Snowball b. Focus group c. Random d. Stratified random. e. Probability

In a market with four producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market form 24 to 10. This is an example of? Select one: a. The economy of transactions b. Disruptive innovations c. Selective distribution d. Disintermediation e. Economies of scale

In class, your instructor presented research about businesses showing profit leaders generate 39% of sales from new products while profit laggards generate 23% of sales from new products. What was the point he was trying to make? What would this tell you? Select one: a. It is really important for businesses to develop new products. b. You should aim to have between 23% and 39% of your revenue from new products based on these benchmarks. c. It is important for students to be able to critically evaluate research. d. The vast majority of new product ideas fail. e. Businesses would be even more profitable if they didn't waste a lot of time and effort developing new products.

In many market situations, such as an oligopoly or monopolistic competition, there is a very strong expectation of what the price for a product should be. In these situations, many businesses engage in ____________ by using advertising, free-product offers or bonus packaging to differentiate their product. Select one: a. Non-price pricing b. Oligopoly pricing. c. Above or below pricing d. Price line pricing e. Loss-leader pricing

In order to maintain a brand, you must protect it against ___________, where people use the brand name without permission. Select one: a. Infringement b. Abuse c. Cannibalization d. Poaching e. Pasteurization

In order to understand a customer's wants, a marketer must understand __________? Select one: a. The cultural and social environment in which a customer makes purchasing decisions. b. The four P's of the marketing mix. c. Psychographics d. Demographics e. The difference between a customer's actual state and the customer's desired state.

In the three circles positioning framework presented in class, what area of the chart indicates how you are currently differentiated in the marketplace? Select one: a. Your unique position b. Customers' needs c. Your products d. Competitor unique position e. The "bar"

Kendra runs a wholesale distribution center for candy. Each week she receives a truckload of candy from her supplier and unpacks it so that her customers only have to buy a case at a time. Kendra is adding value by ___________? Select one: a. Breaking bulk b. Transporting c. Grading. d. Storing e. Creating assortment

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers at her warehouse. She then puts cases of each brand of candy in her delivery trucks so that her drivers can visit her retail customers and resupply their candy racks. Kendra is adding value by ___________? Select one: a. Transporting b. Grading. c. Breaking bulk d. Creating confusion. e. Storing

Lands End was traditionally a mail order catalog company. In order to expand their business, they decided to open retail outlets where customers could visit and actually see the merchandise. By analyzing the zip codes from past mail order shipments, they were able to locate new stores in areas where many of their customers already lived. This is an example of? Select one: a. Data Mining b. GIGO c. Exception analysis d. Environmental scanning e. Data manipulation

Marketers recognize that people living in one part of the country may have tastes that are different than people in other parts of the country. For example, when traveling in the southern United States, Iced tea is served with the sweetener already in it while in the Northern states, iced tea is served unsweetened. These differences are the reason that __________ segmentation can be useful for many products. Select one: a. Geographic. b. Psychographic. c. Statistical d. Demographic e. Buying situation

Nick is thinking of conducting some market research to help him determine the best colors to use for the cover of his new hip-hop CD to be released in February. He decides that he can invest up to $500 in this research, but he needs to get it done in the next three weeks. Nick is probably in the _______________ stage of the market research process? Select one: a. Develop the research plan b. Take action based on the findings c. Answer specific questions d. Define the problem e. Set research objectives

One of the main ADVANTAGES of observational data collection is? Select one: a. People frequently are unaware or unable to say what their true motivation is. b. Observational data is less expensive than questionnaire data c. It is easy to interpret observational data. d. You have the ability to ask follow up questions. e. The data collection is done by machines such as a video camera or tape recorder.

One of the ways intermediaries create value is to? Select one: a. Specialize in one or more channel functions in order to become better at it than others in the channel. b. Invest in trucks that are much more expensive than other companies in the channel can afford. c. These are all ways that intermediaries create value. Incorrect d. Provide a buffer between consumer and producer so individuals don't feel like they are dealing with a large corporation. e. Increase the amount of money customers are willing to pay for a good or service.

Rafael is applying to graduate schools for admission to the MBA program. If he goes part time, it will take four years and cost several thousand dollars. Rafael believes that he needs the advanced degree to get a promotion at his job. Rafael is likely to engage in _________ problem solving as he makes this decision? Select one: a. Extensive b. Routine c. Consumer d. Limited e. Low effort

Roxanne has completed her positioning analysis and has decided that there is an opportunity to create an adult milk beverage that is enhanced with vitamins. Currently, her company does not make such a product, nor for that matter do any of her competitors. Roxanne has the opportunity to? Select one: a. Create a new category by introducing a product that is different from anything else on the market. b. Save on advertising costs because there are no competitors in her segment. c. Reposition the industry around vitamin enhanced milk beverages. d. She can do all of these things. e. Charge higher prices because there are no competitors in this segment

Shamiya is the marketing manager for a leading mattress manufacturer. She is in the process of developing a market segmentation scheme for her company. Because delivery costs are very high for mattresses, she is likely to consider ______________ along with other variables as she develops her plan? Select one: a. Geography b. Cultural differences c. Usage rates d. Psychographics e. Lifestyle.

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means? a. They are more likely to seek out products that affirm their membership in the subculture b. The law of supply and demand does not apply to a subculture. c. Everyone who is a member of a subculture will want similar products. d. They will only buy goods and services from members of their subculture. e. They are more likely to have money to spend on luxury products.

The Broyhill furniture company designed a sofa that retailers could sell for $699 and still make a profit. This was because retailers had told the company they needed a promotional sofa that would cost less than the $1000 or more for a typical sofa. They would feature the promotional sofa in their advertisements to bring customers into the store. This is an example of? Select one: a. Target profit pricing b. Prestige pricing. c. Flexible pricing. d. Penetration pricing e. Captive pricing

The __________ to setting prices weighs consumer tastes and preferences more heavily than costs and profits. Select one: a. Demand-based approach b. Cost-based approach c. Competition based approach d. Qualitative approach e. Subjective-approach

The ____________ approach to new product pricing sets prices low in order to gain market share and discourage competitors from entering the market? Select one: a. Penetration b. Skimming c. Trial pricing d. new and improved e. Variable price

The basic trade-off in logistics is between ________ and ________? Select one: a. Efficiency and responsiveness. b. Upstream and downstream c. Time and money d. Storage and transportation. e. Revenue and costs

The biggest difference between a merchant wholesaler and an agent or broker is that the merchant wholesaler? Select one: a. Takes ownership of the products it carries. b. Doesn't bring buyers and sellers together. c. Is paid a commission on what it sells d. Deals with more than one company's products. e. Doesn't have to call on customers.

The goal at the ______________ stage of the product life cycle is to get people to try the product for the first time. Select one: a. Introductory b. Growth c. Maturity d. Rebirth e. Decline

The goal of a marketing channel is to? Select one: a. Create the most efficient way to move products from producer to consumer b. Create a network of suppliers, intermediaries and customers to support long-term sales of the product. c. Identify groups of people with needs that are similar to each other and different from everyone else d. Communicate with groups of people who are similar to each other and different from everyone else. e. Create economies of scale for the producer.

The idea behind _____________ is that people who are born at the same time share similar experiences growing up and, therefore are similar in some of their attitudes and behaviors? Select one: a. Generational marketing b. Co-generation c. Generation Y d. Generation X e. Baby boomers

The introductory stage pricing strategy that attempts to gain as much market share as possible, even though it may mean more time before the product becomes profitable is called? Select one: a. Penetration pricing. b. Skimming. c. Discounting. d. Cost-plus pricing. e. Introductory pricing

The only way you can get remediation for a missed mini test is? Select one: a. You were physically unable to take the test from the time it was due until after the last chance to re-take it and can prove it with a doctor's excuse or other external documentation. b. You had planned on taking it during the second week it was available, but had to leave the country because of work and couldn't take it when you planned to. c. If missing a test will cause you not to pass the class. d. You tried to take the test, but the computer wasn't working that day. e. If you misunderstood when the due date or the last chance to re-take the test was.

The three steps for developing a market position (or for developing any strategy, really) are? Select one: a. Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be. b. Determine your current situation, do a cost/benefit analysis of the desirability of changing, implement and evaluate the plan. c. Define the problem, hire consultants, implement their recommendations. d. Ready, fire, aim. e. Determine which positions look attractive, select the position you want to achieve, develop a plan to achieve the position.

The value of having a lot of offerings within a product line is? Select one: a. Each product satisfies slightly different needs which allows you to target different market segments within the product category. b. A way to achieve economies of scale and allow you to become the low cost producer within a product category. c. A way to maintain high inventory levels because a customer who can't find the product she desires will always be able to find something almost as good. d. All of these reflect the value of having a lot of offerings in a product line. e. A way to avoid product cannibalization because a customer can select exactly the product she desires.

Thomas Friedman wrote a book about the impact of new technologies and other trends impacting the way business is conducted in the world called The World is Flat. One of the basic premises is that widespread adoption of internet protocols and the seamless connection of computer systems along the value chain allowing for the efficient flow of ___________ to help smooth the flow of goods from raw materials to end user. Select one: a. Information b. Permission c. Intermediation d. Payment e. Technology

Thomasville furniture decided to reduce the number of dealers carrying its line fine furniture. Stores who wished to carry Thomasville were required to dedicate at least 10,000 square feet in their store for a Thomasville gallery. This meant that only the larger dealers in a given market would be able to carry Thomasville. This is an example of? Select one: a. Selective b. Exhaustive c. Intensive d. Discriminating e. Exclusive

Tracy is thinking of marketing a new energy drink. Her target market will be parents of young children who need an energy boost in the car while driving from dance lessons to soccer games. She plans on testing whether or not people will like her new energy drink by offering free samples to students outside of the student union. If the majority of students say they like her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her findings in this market research project. Select one: a. Generalizability b. Measurement c. Reliability d. Validity e. Information

Traditionally, which of the bases for segmentation is most frequently used by marketers? Select one: a. Demographic b. Geographic. c. Psychographic. d. Statistical e. Buying situation

Warranties can be either express or implied. An implied warranty means that? Select one: a. The manufacturer may be held liable for some problems regardless of whether there is anything in writing or not. b. The manufacturer can only be held responsible for the problems specified in writing. c. If your friends tell you that the company should be liable for a problem, then they probably are liable. d. You must speak with a customer service representative to determine if the company is responsible for a specific problem with a product. e. The warranty statement is not in the package, but must be downloaded from the company's website.

What did your instructor mean when he mentioned the concept of cognitive miserliness? Select one: a. That people do as little 'thinking' as possible when making a decision. b. That people carefully evaluate all of the information available in order to make the best decision. c. That many consumers who spend money freely actually perceive themselves to be misers. d. That people naturally seek the lowest cost alternative. e. That people are unwilling to share information when they have discovered a real bargain.

What is an attribute? Select one: a. A quality or characteristic inherent in or ascribed to someone or something. b. The perception a person has about a feature of a product. c. A product that has made it through the alternative identification stage, but has not yet been evaluated. d. A speech in praise of a person or an event. e. An evaluation of a product.

What is the difference between a need and a want as described in class? Select one: a. A need is a perceived lack of something, a want is a culturally defined way to satisfy the need b. A need describes desire at an individual level, a want describes desire of groups as a whole. c. A need is a physical desire, a want is an intangible desire. d. A need is a desire for a socially desirable product, a want is a desire for a socially unacceptable product. e. A need is an actual lack of something, a desire is a perceived lack of something.

What is the difference between a relationship and an exchange? Select one: a. It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange. b. Relationships lose money in the short-run; exchange transactions make money in the short run. c. Relationships are profitable in the long-run, exchanges are profitable in the short run. d. Relationships are profitable, exchanges can lose money. e. In a relationship, people will make it up to you later if there is a problem with a transaction; in an exchange the problems have to be resolved at the time of the transaction.

What is the grading structure for this class? Select one: a. 50% of the grade is based on mini tests and 50% of the grade is based on a comprehensive final examination b. 50% of the grade is based the average of your ten highest mini tests and 50% of the grade is based on a comprehensive final examination c. 50% of the grade is based on lectures 50% of the grade is based on a comprehensive final examination, and 50% of the grade is based on participation d. 40% of the grade is based on mini tests, 40% of the grade is based on a comprehensive final examination, and 20% of the grade is based on class participation

What should you do if you want 100% on the mini tests? Select one: a. All of these are things to do if you want to earn 100% on the mini tests b. Work on review tests after getting 10's on the mini tests c. Take each test multiple times d. Set up a regular time each week to take the tests e. Don't wait until after the due date to start taking the mini tests.

Which of the following is NOT an example of a not-for-profit organization? Select one: a. All of these are not-for-profit organizations. b. A charitable foundation c. A Girl Scout troop d. A church e. A public hospital

Which of the following is NOT information that is available categorized by NAICS codes? Select one: a. Current price data b. Salary data c. Number of firms in an industry d. Employment data e. Industry sales data

Which of the following is NOT one of the dimensions customers use to evaluate service quality? Select one: a. Price b. Responsiveness c. Empathy d. Reliability e. Assurance

Which of the following is an example of a source of data you might acquire in marketing analytics? Select one: a. Syndicated research b. All of these are sources of data you might acquire in marketing analytics. c. Customer data d. Location data e. Customer service history

Which of the following people would most likely be a potential customer for a Ferrari luxury car? Select one: a. A millionaire who already owns a Ferrari. b. A millionaire who doesn't care for luxury cars. c. An environmental activist who has pledged never to drive an internal combustion automobile. d. A teenage boy who is a huge Ferrari fan, reads everything he can about Ferrari and dreams about owning a Ferrari while working his minimum wage job after school to save up for his drivers license. e. Your Marketing Instructor who has three kids in college and is trying to pay off his own student loans?

Which of the following research techniques is most likely to be used in exploratory research? Select one: a. Focus Groups b. Longitudinal research. c. Quasi-experiment d. Survey questionnaire e. Mail survey

Which of the following situations describes a business customer? Select one: a. A not-for-profit organization that buys copier paper in order to make flyers announcing a charity fundraising event. b. An individual seeking to make a charitable contribution to a not-for-profit organization. c. A person who visits a government agency looking for information on gardening. d. All of these are business customers. e. A purchasing agent for a fortune 500 company who buys a new Cleveland golf club so that she can improve her golf game.

Which of the following statements about the bin theory or memory is FALSE? Select one: a. All of these statements about the bin theory of memory are true. b. Memories are stored in chronological order c. Over time, one item becomes the category label d. Repetition keeps you near the top of the category e. We remember things in categories

Which of these is NOT an example of an intangible product? Select one: a. All of these are intangible products b. A media celebrity c. A ballot initiative d. A sports hero e. A vacation destination

Why is an understanding of attitudes important to understanding consumer brands? Select one: a. A brand is essentially an attitude about a product b. Brands are an important way for marketers to differentiate their products. c. A brand is an attitude that has no object d. A brand is an attitude that changes with each consumption experience e. A brand is an attitude created by advertising

With _________________ the roles of the various channel partners are specified by a formal contract. Select one: a. The roles of the channel partners are specified by contract in all of these situations. b. Co-operative associations c. Franchises d. Vertical marketing systems

You may take each mini test ___________ time(s) during the period it is available. Select one: a. unlimited. b. 14 c. 3 d. 10 e. 1

_________ is the amount of money or other consideration, which is exchanged or offered for a product, or other desired outcome. Select one: a. Price b. Barter c. Expense d. Value e. Revenue

___________ involves creating clickable ads and paying to have them displayed in sponsored listings? Select one: a. Paid search b. E-commerce c. All of these involve creating clickable ads and paying to have them displayed in sponsored listings d. Viral marketing e. Social media marketing

____________ is understanding how customers perceive your product and managing their perceptions relative to competing products? Select one: a. Positioning b. Target marketing c. Rebranding d. Segmentation. e. Deception

_____________ are business customers who purchase products primarily to run the organization. Select one: a. Institutions b. Resellers c. Industrial markets d. Manufacturers e. Facilitators

_____________ are factors that limit the range of prices a firm may set for its products? Select one: a. organizational constraints b. pricing objectives c. price/value continuum d. price heuristics e. social responsibilities

_____________ is when a business uses one brand name to cover a variety of products? Select one: a. Family branding b. Private branding. c. Rubber branding. d. Generic branding e. Individual product branding

______________________ is the marketing of goods and services to companies, governments, or not-for-profit organizations purposes other than personal consumption? Select one: a. Business marketing b. Consumer marketing c. B2C marketing d. Production era selling e. Internet marketing

rinciples of Marketing is a three credit hour class. The rule of thumb for college level work says that (in addition to viewing the lectures) you should be spending _________ additional hours studying each week? Select one: a. 6-9 b. 10-15 c. 3 d. Whatever it takes e. Actually, you don't even have to view the lectures to do well.

Which of these is NOT an evaluation point for business decisions according to the ethical legal framework?

All of these are evaluation points for business decisions

Every business will use a different combination of promotional tools. The actual tools selected will depend on?

Actually, it depends on all of these.

BruceCo is planning to introduce a new line of blended coffee for amateur athletes. In addition to running newspaper advertisements, BruceCo wrote a press release describing the new product and its benefits. The press release was sent to local newspapers television stations. This is an example of using _____________ to promote a product?

Advertising

Selah has taken over as brand manager for a line of chewing gum. The product is very inexpensive and people treat it as an impulse purchase. Her primary promotional objective is to remind consumers that the product exists so that they will be likely to pick it up the next time they are in the mood for gum. This product appeals to virtually everybody and they have an intensive distribution strategy. Which promotional tool might work best as the primary tool in this situation?

Advertising

Which of the following forms of promotion gives marketers the greatest degree of control over the message?

Advertising

________________ is paid messages placed in any of the mass media by an identified sponsor in order to persuade members of a particular target audience about products or ideas?

Advertising

In the California general election, it is not unusual for a company to run an advertisement for/against a proposition stating that the proposition is good/bad for the economy and a waste of tax dollars/source of tax revenue. This would probably be considered a(n) ____________ ad?

Advocacy

After the superbowl football game, Mark got a phone call from a Polling organization. The person on the phone read a list of all comercials that ran during the game and asked Mark if he remembered seeing each one. This is an example of a(n) ________________ test of advertising effectiveness.

Aided recall

Which of the following services is a full-service advertising agency likely to provide?

All of these - that is why they call it a full-service agency

Which of these is NOT an advantage of digital marketing when compared to traditional marketing?

All of these are advantages of digital marketing when compared to traditional marketing.

Which of these is NOT generally considered to be digital marketing?

All of these are digital marketing

BruceCo decided to introduce a new blend of coffee in its wildly popular coffee shops. The plan was to introduce the new blend with a series of local television ads on the evening news because people who watch the news are more likely to be premium coffee drinkers. They followed this up with keyword ads for the next two weeks. Finally they would purchase advertising space on the side of busses and run drive-time radio ads during the four weeks the bus signs were being displayed. This is an example of?

An advertising campaign

What is digital marketing?

Any computer-mediated marketing activity

Many inexperienced sales reps fail to establish rapport with the customer in the __________ stage of the personal selling process, making it difficult to uncover needs during the presentation?

Approach

The goal during the __________ of the personal selling process is gain the customer's attention and build the foundation for the sales presentation?

Approach

_____________ describes the process a sales manager uses to help a new hire become familiar with the culture and procedures of the sales force.

Assimilation or onboarding

When is the best time to establish a metric to measure the performance of a promotion?

At the time the promotion objective is established

Many retailers play holiday music in the background and scent the air with cinnamon and peppermint to help shoppers get 'in the mood' when they are doing their Winter holiday shopping. This is an example of using __________ to implement a store positioning strategy?

Atmospherics

BruceCo was opposed to proposition 92.3 in the California general election. This proposition would impose a 50 cent/cup tax on coffee in order to pay for education. The most recent polls showed 57% of likely voters supported the proposition. BruceCo then paid for an advertisement which explained that if the proposition passed, the cost of a cup of coffee would increase by 50 cents. Following the advertisement, the polls showed only 32% of likely voters were in favor of the proposition. This is an example of a(n) ___________ test of advertising effectiveness?

Attitude change

A ____________ is an accepted and popular style? Select one: a. Trend b. Fashion c. Bundle d. Attribute e. Product life cycle

A benefit is...? Select one: a. determined by the producer of a product b. the usefulness a customer receives from using your product c. negotiated between buyer and seller d. part of your employment package e. determined by the market place

A brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _____________? Select one: a. A warranty b. Kept. c. In writing d. Implied e. Changed as circumstances change.

A company using a ____________ strategy creates several individual brands in the same product category? Select one: a. cannibalization b. multibrand c. line extension d. family brand e. fighting brand

A continuous innovation is? Select one: a. A way to create distance between your product and a competitor's product position. b. A continuous innovation is all of these things. c. A way to eliminate distance between your product and a competitor's product position. d. A modification to an existing product. e. A way to create an incremental competitive advantage.

A major disadvantage to introducing a new product that represents a continuous innovation is that? Select one: a. You can only use continuous innovation when a competitor copies your existing product. b. It is difficult to gain a sustainable competitive advantage with incremental changes. c. These are all disadvantages of continuous innovations. d. It more difficult to modify an existing product than it is to come up with an entirely new product. e. The customer may not understand how to use the product anymore.

A major drawback to every day low pricing is? Select one: a. There are no sale periods. b. Competitors can offer their products at a price slightly lower than yours. c. Customers don't like the concept of every day low pricing. d. There is confusion over what the actual price of your products actually is. e. Many consumers, especially women, prefer to enter into price negotiations.

After years of steadily declining sales, the amalgamated telephone book company adopted new product development as a strategic priority for future growth. This is an example of the ___________ approach to new product development? Select one: a. defensive b. reactive c. proactive d. defective e. internal development

An inverted demand curve is usually associated with luxury or prestige goods. With an inverse demand curve, within a certain range of prices... Select one: a. An increase in price will lead to a decrease in the quantity demanded b. An increase in price will lead to an increase in the quantity demanded c. A decrease in price will lead to an increase in the quantity demanded d. There is no limit to the quantity demanded. e. A discount will lead to an increase in the quantity demanded

Bruce is a fan of the Minnesota Vikings Football team. He was watching a game between the Minnesota Vikings and the San Francisco Fortyniners on San Francisco television station. He expected that the announcers would favor the local team and it appeared that he was right. Even though a national media agency gave the local announcers an award for the most unbiased coverage ever in a televised football game, Bruce remained convinced that the announcers had favored the local team. This is an example of ______________? Select one: a. Selective selection b. Selective interpretation c. Selective retention d. Selective attention e. Selective memory

Bruce is considering adding dinosaur slippers to his novelty sleepware line. But first, he needs to determine if there is adequate market potential to justify the expense. Bruce is in the _________ stage of the new product development process. Select one: a. Commercialization b. Business analysis c. Idea generation d. Market testing e. New product strategy

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do so he opened his first store across the street from a Starbucks Store. He ran advertisements in the local paper claiming "Bruce's Brew is better than Starbucks Stuff" and offered a money back guarantee to any Starbucks customer who was willing to try a cup of Bruce's Coffee. Bruce is using a _______________ positioning strategy. Select one: a. Differentiation b. Head to head c. Different attributes d. More is better e. Follow the leader

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union looking for a snack. On his way he noticed someone had set up a table with information on data plans for cellular phones. As he tried to walk past the table, a salesperson stopped him and asked him if he would like to buy a data plan for a very low introductory rate. In terms of product classification, a cell phone could best be described as a(n) for Bruce? Select one: a. Sought product. b. Unsought product c. Specialty product d. Convenience product e. Shopping product

BruceCo is an inventory liquidator. The company identifies other businesses that have huge amounts of unsold inventory and buys it from them at pennies on the dollar. They then try to find another company that can use the inventory and sell it to them at a profit. What makes this business so fun is that you never know from day to day what product you will be dealing in or who might be a prospective customer. What type of wholesaler would BruceCo be considered? Select one: a. A direct channel, selling to customers through a company website, charging $10 shipping and handling for ground delivery and $20 shipping and handling for rush delivery. b. A broker who negotiates deals with any customer who wishes to purchase what BruceCo is trying to liquidate. c. A distributor who carries a variety of products and sells to a variety of customers. d. A regional warehouse which keeps inventory nearer to the customer. e. A manufacturer's representative to call manufacturing businesses send the orders into BruceCo.

Campbell's soup has dozens of different flavors and packages of soup. All of them have the same distinctive red and white packaging. You have to read the label to tell the varieties of soup apart. This is an example of: Select one: a. Private branding. b. Family branding c. Individual product branding d. Excessive branding. e. Generic branding

Carlina operates a tofu making factory in Taiwan. She uses soybeans grown in Northwest Ohio for her tofu because they are very high quality and the prices are low. Soybeans will keep for a very long time without spoiling. Because her main concern is how to get the thousands of bushels of soybeans to her factory for the least cost, Carlina uses _________ transportation for this part of her business? Select one: a. Pipeline b. Water c. Rail d. Truck e. Air

Carlina operates an automobile parts manufacturing plant in Chillicothe, Ohio. She has automotive customers in Michigan, Ohio, Tennessee, Georgia and Indiana. Because most of her customers insist on Just In Time inventory management she needs to know exactly when the shipments of her product to the customer will arrive. Carlina uses _________ transportation for this part of her business? Select one: a. Air b. Truck c. Pipeline d. Rail e. Water

Chez Bruce is the fanciest restaurant in the city. If you want to make a reservation, you have to make it before 5:00 pm or after 10:00 pm. There is so much demand for seats at the restaurant that you have to wait in line during peak hours. Bruce is using this strategy to deal with the __________ characteristic of service provision. Select one: a. Invisibility b. Perishability c. Variability (Inconsistency) d. Intangibility e. Inseparability

Coca Cola's basic strategy is they you should never be more than an arms length away from a cold, refreshing Coke. In order to achieve this strategy they try to make Coke products available for sale through as many outlets as possible. You can buy bottled Coke in the grocery store, fountain coke at a restaurant, single cans and bottles at convenience stores and gas stations, and individual cans from vending machines while you are waiting in line for a ride at an amusement park. Because the goal of the supply chain is to maximize __________, Coke is willing to bear the expense of having several different channels of distribution? Select one: a. Variety b. Responsiveness c. Efficiency. d. Downstream activities. e. Upstream activities

Colgate Palmolive created a special package that included a free regular-sized tube of toothpaste when you purchase a family-sized tube of toothpaste at the regular price. This is an example of? Select one: a. target-cost pricing b. Price bundling c. Captive pricing d. Trial pricing. e. Odd-even pricing

Companies frequently develop new products by combining two different technologies to come up with a product that represents a dynamically continuous innovation. This is known as _____________? Select one: a. Construction. b. Convergence c. Brainstorming d. Continuum e. Feature creep

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. This is the result of: Select one: a. Selective retention b. Selective interpretation c. Selective cognition d. Selective attention e. Natural selection

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. In order to survive, she eats day old bread and lots of rice because it is very inexpensive. Desiree's desire to save money on food which she eats alone is motivated by her ____________? a. Ideal self-concept b. Actual self-concept. c. Fashion sense. d. Need for safety. e. External motivation.

Erik is going to buy a pair of running shoes. Which of the following factors would lead you to believe that buying running shoes is a HIGH involvement decision for Erik? Select one: a. All of these would lead you to believe purchasing running shoes is a high involvement decision for Erik. b. Erik really isn't into running but a friend told him that he needed to have the right kind of footwear or he would be perceived as a loser by his friends c. Erik will be running in the State championships next week and the team provides the shoes he will wear in the race. d. Erik has purchased many pairs of running shoes in the past and has a favorite brand. e. Erik is doesn't really like to run. He only does it because his parents make him.

For a store using ______________, many items will go on sale each week? Select one: a. Flexible pricing b. High-low pricing c. Odd-even pricing d. Dynamic pricing e. Price discrimination

Frodo was a massage therapist. He was very good at dealing with lower back pain. In his waiting room, he had a framed photograph of Sylvester Stallone along with a letter from the celebrity saying that Frodo was the best massage therapist in the world. Sylvester Stallone appeared in all of Frodo's print and radio advertisements as well. Frodo was using the ___________ approach to making his service seem 'real'? Select one: a. Visualization b. Association c. Word of mouth d. Physical representation e. Documentation

Gandalf opened a tobacco shop in the Haight/Ashbury District. He wanted to create a distinctive brand personality for the store, so he insisted that all of the employees wear purple robes and long, pointed hats while they were on duty so they would all look like wizards to customers. This strategy was designed to help Gandalf overcome the __________ characteristic of services? Select one: a. Inseparability b. Variability c. Invisibility d. Perishability e. Intangibility

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ___________ to evaluate the quality of this service? Select one: a. Credence Clearwater Revival b. Search attributes c. Credence attributes d. Experiential attributes e. Intangibles

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Social responsibility was a high priority for the company so she knew that whatever coffee company she used, it had to be socially responsible. She went online and found three coffee companies that provided equipment and made regular deliveries. The company she chose claimed to be socially responsible. All of the coffee was certified to be fair trade coffee by the Fair Trade Coffee association. Hermione was familiar with the Fair Trade Association and knew that fair trade certification meant the coffee was purchased from small farmers who were paid a fair price for their coffee. Hermione used ____________ to evaluate the quality of the service? Select one: a. Experiential attributes b. Credence attributes c. Comparatives d. Intangibles e. Search attributes

I can't believe it, said Wiley Coyote, I am the president of Acme enterprises and we make $200,000 a year profit with me working my tail off. Our distributor, Road Runner Representatives, made over $800,000 in commissions. I don't understand why they are making all of that money when all they do is run around all day and say beep-beep to customers. I think we should lower the commission rate to bring their income down to a more reasonable level. This is an example of? Select one: a. Horizontal conflict b. Vertical conflict. c. A price war d. Suspended animation e. Vertical integration

If you need to communicate with the instructor about the class, the only "official" mode of communication is? Select one: a. Instant messaging b. e-mail c. Mental telepathy d. All of these are "official" ways to contact the instructor about a class-related issue. e. Telephone

In ________________, competitors in the same industry meet to negotiate the price they all will charge to their customers? Select one: a. price leadership b. horizontal price fixing c. vertical price fixing d. bait and switch pricing e. diagonal price fixing

In an oligopoly situation, where the demand curve for the product is kinked, what is the best strategy to increase profits? Select one: a. Decrease price to increase revenues. b. Maintain price and reduce costs. c. Decrease price to decrease revenues. d. Increase price to increase revenues. e. Increase price to decrease revenues.

In general, you have more flexibility in setting your prices in the _________ stage of the product life cycle than in the _________ stage of the product life cycle? Select one: a. decline, disaster b. introductory, maturity c. maturity, introductory d. maturity, growth e. growth, introductory

It has been said that no two people on an airplane pay the same price for a ticket. Prices tend to be lower if you are willing to book you trip well in advance and tend to be much higher if you have to book your trip on short notice. A non-refundable ticket costs less than a refundable ticket. Airlines use this ___________ in order to maximize the revenue they earn from each flight? Select one: a. Price bundling b. Yield management pricing. c. Captive pricing d. Flexible pricing e. Prestige pricing

Jiwon is thinking of developing a candy specifically for college students. She thinks that college students would buy candy if it had caffeine in it. Before she invests a lot of money in candy making equipment, she conducts ___________ research to find out if there is a relationship between caffeine and candy sales for college students? Select one: a. Exploratory b. Descriptive c. Causal d. Experimental e. Pseudo

Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The first store was poorly lit, seemed to be kind of dirty and was very crowded. The second store was brightly lit, sparkning clean and had the shoes attractively displayed on shelves. She walked past the first store and into the second store in order to shop for shoes. Kris was influenced by ___________? Select one: a. Time of day b. Atmospherics c. Her mood at the time. d. The buying task e. Personality

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, how much profit did BruceCo make? Select one: a. $10,000 b. $5,300 c. $5.30 d. $4,700 e. $9,995.30

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the average profit if they sell all 1500 cups? Select one: a. $5.30 b. $5.55 c. $10.25 d. $4.70 e. $5.80

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the average revenue? Select one: a. $5.30 b. $10.25 c. $10.50 d. $4.70 e. $10.00

The disadvantage to the __________ to setting prices is that it doesn't take into account whether customers are willing to pay the price you need to charge? Select one: a. Demand-based approach b. Cost-based approach c. Subjective-approach d. Statistical approach e. Quantitative approach.

Many television infomercials advertise a product at a very low price. After you order the product, you find there is a fairly substantial shipping and handling charge. When you figure in the extra charges, the product may be more expensive than other, similar products that you were considering. This is an example of a ________tactic? Select one: a. Captive price b. Multiple price c. Discount price d. Flexible price e. Single price

Mordred had been sued by a former business partner. The partner was seeking $1,000,000 in damages. Mordred felt that this claim was totally unfair. He went to the law firm of Merlin, Guinevere, and Arthur, LLC. He was told that a junior associate could handle his case for $300 and hour or a senior partner could handle the case for $700 and hour. When he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. This is an example of _____________? Select one: a. Automation b. Price rationing c. Productization d. Dive up window e. Visualization

Niles is the marketing manager for Hang Five, a manufacturer of half-price surfboards. He just learned that the largest supplier of surfboard blanks has just declared bankruptcy and that in 30 days the supplier would no longer be able to provide surfboard blanks for Hang Five. Niles is likely to rely on the ___________ feature of the company's marketing information system to help solve this problem? Select one: a. Exceptions reporting b. Decision Support System c. Data mining d. Legacy systems e. Acquired databases/internet

Not-for-profit organizations need to use complementary positioning because...? Select one: a. Not-for-profit organizations may not be allowed to segment. b. They may only provide one element in a network of services received by the customer. c. Not-for-profits don't compete against each other. d. Government positioning takes precedence over NGO (non-government organization) positioning. e. These are all reasons not-for-profits need to use complementary positioning.

One common strategy to extend the life of a product in the maturity stage of the product life cycle is to ____________? Select one: a. Divest the product. b. Reposition the product to appeal to a new market segment c. Go back to market testing. d. Skim the product. e. Use subliminal advertising.

One of the advantages of ____________ is that they can be moved from one platform to another without having been loaded or unloaded. Names such as piggyback, fishyback relate to the variety of transportation options? Select one: a. Packages b. Shipping containers c. Forklifts d. Trucks e. Conveyer belts

One of the barriers to creating intelligence within an organization is? Select one: a. Computer databases make it difficult to retrieve information in a timely manner. b. Sometimes people don't do the paperwork asked of them. c. Not all organizations have intelligent people working for them. d. These are all barriers to intelligence within an organization. e. When an organization has only one database it can be difficult to retrieve information in a timely manner.

One of the biggest differences between a for-profit service company and a not-for-profit service company is that? Select one: a. These are all differences between not-for-profit companies and for-profit companies. b. Not-for-profit companies have multiple constituencies that could be considered to be customers. c. Not-for-profit companies receive tax dollars from the government while for-profit companies pay taxes to the government. d. Not-for-profit companies are expected to lose money while for-profit companies are expected to make money. e. Not-for-profit companies satisfy a need in society while for-profit companies do not satisfy societal needs.

One of the ironies in brand management is that if you are very successful at creating a branded product so that people start referring to the brand name instead of the product name, you risk losing the right to the brand name. This use of the brand name as the product name is called _______________? Select one: a. Mistaken identity b. Common usage c. Infringement d. Cannibalization e. The last laugh

One of the strategies during the decline stage of the product life cycle is to sell the product to another company or simply to stop producing the product. This strategy is called? Select one: a. Leaving the scene of an accident. b. Exiting the market. c. Harvesting the product. d. Milking the product. e. Shaking the product.

One way to segment markets for business customers is by industry type. This approach is attractive because many industries have __________ which makes it cost effective to communicate with businesses in that Industry? Select one: a. Cable television b. Trade associations. c. Local newspapers. d. Point of purchase displays e. Regional differences

People have two decisions to make when they use products to solve a problem. One of them is? Select one: a. Do I like the product well enough to buy it? b. Whether or not to make a purchase? c. Does the product come with a guarantee? d. Is the problem serious enough to require extensive problem solving? e. What is the limit on the number of alternatives to consider?

People may not be conscious of their true motivation for purchasing a specific product. This is especially true for socially consumed products such as luxury cars and designer fashions. They may say they are purchasing these products because they are of high quality or an excellent value. The real reason is more likely to be: Select one: a. They are on a company expense account and don't have to purchase these products with their own money. b. Luxury products are a way for them to maintain their self image c. They know that many people will lose their jobs if nobody purchases luxury products. d. They perceive these products to be investments that will be much more valuable in the future than they are right now. e. They are not aware of how expensive these products actually are.

Price elasticity is the slope of the demand curve. When price elasticity is HIGH? Select one: a. You can increase revenue by increasing prices b. You can increase revenues by cutting prices. c. You can decrease profits by decreasing prices d. You can increase profits by cutting prices e. You can decrease revenues by cutting prices

Rosalie is thinking of advertising her sandwich shop on the radio. She is considering a package of 60 radio spots for $5,000. She only sells Cuban sandwiches for $10 and her average cost per sandwich is $5. How many additional sandwiched would she have to sell to breakeven if she buys the radio spots? Select one: a. Can't be determined with the information available. b. 1000 c. 500 d. 1500 e. 0

The 80/20 principle holds that...? Select one: a. You can fool 80 percent of the people some of the time and you can fool 20 percent of the people all of the time. b. 20 percent of all customers generate 80 percent of the demand c. 80 percent of your effort should be in determining the segments and 20 percent of your effort should be in developing the target markets. d. 20 percent of your effort should be in developing segments and 80 percent of your effort should be in developing target markets. e. You will have four times as many losing segments as you will have winning segments

The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of? Select one: a. Price bundling b. Captive pricing c. Yield management pricing. d. Convenience pricing e. Prestige pricing

The ____________ approach to new product pricing sets prices low for a while in order to encourage people to try the product and then raises the price once the new product gained traction in the marketplace? Select one: a. new and improved b. Trial pricing c. Penetration d. Variable price e. Skimming

The _______________ concept recognizes that there are a set of functions that need to happen in order to move a product from the producer to the consumer? Select one: a. Utility b. Channel flow c. Value d. Four "P's" e. Intermediary

The _________________ channel flow involves two-way communication between producer and consumer? Select one: a. Ordering b. Negotiation c. Ownership d. Promotion e. Risking

The _________________ is the customer's perceptions of, and interactions with the brand? Select one: a. brand expression b. brand experience c. family brand d. brand extension e. brand name

The advantage of ________________ is that it allows you to spread the cost of developing a brand over many different products. Select one: a. Private branding. b. Family branding c. Generic branding d. Excessive branding. e. Individual product branding

The consumer buying process deals with how human beings __________ ? Select one: a. Buy products b. The consumer buying process deals with all of these. c. Solve problems d. Make decisions e. May not act rationally in the classic 'economic' sense.

The consumer buying process deals with how human beings __________ ? Select one: a. May not act rationally in the classic 'economic' sense. b. The consumer buying process deals with all of these. c. Make decisions d. Solve problems e. Buy products

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company be seeking input from customers, following up on complaints, listening to employees, analyzing market research and monitoring competitors? Select one: a. Commercialization b. Idea generation c. Technical development d. Business analysis e. New-product strategy development f. Screening and evaluation g. Market Testing

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company be seeking input from customers, following up on complaints, listening to employees, analyzing market research and monitoring competitors? Select one: a. New-product strategy development b. Idea generation c. Business analysis d. Market Testing e. Technical development f. Screening and evaluation g. Commercialization

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company define the marketing strategy for and determine the projected income from a new product? Select one: a. Idea generation b. Business analysis c. Screening and evaluation d. Commercialization e. Technical development f. Market Testing g. New-product strategy development

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company introduce the new product into the company's overall product mix? Select one: a. Screening and evaluation b. Commercialization c. New-product strategy development d. Business analysis e. Market Testing f. Idea generation g. Technical development

The point of discussing the different bases for segmenting markets was? Select one: a. Demographic segments are more useful than segments developed with other variables. b. You can use any combination of segmentation variables to develop market segments that work for your organization. c. You should start with demographic segmentation and then use other segmentation variables to refine your segments. d. You should start with demographic segmentation and move on to more advanced techniques only if necessary. e. Most businesses find it useful to use one or two segmentation variables at the most in order to keep their segmentation schemes simple.

The reason people experience buyers remorse after making a major purchase is because? a. People are so happy with their new purchase that they regret no longer being able to shop for something new. b. Once you have made a choice between two attractive alternatives, you experience a sense of loss over the alternative that you didn't choose. c. All of these are reasons people experience buyers remorse. d. People frequently spend more money than they can afford to on major purchases, especially when they buy using credit cards. e. People naturally dislike making decisions.

The rule of thumb for college level work is that to be successful, you should be putting in _________ hours outside of class for every hour in class? Select one: a. 3 to 5 b. 2 to 3 c. It depends on whether or not you have a job. d. 1or less e. At least 6

The three circles positioning framework presented in class suggests using all of the following EXCEPT ___________ to help clarify a market position? Select one: a. Competitor offerings b. Related industries c. Points of difference d. Company's offerings e. Customer needs

The two components of quality are? Select one: a. Reliability, warranty b. Benefits received, consistency. c. Features, benefits. d. Price, benefits received. e. Cost of obtaining the benefit, benefits received.

Two things to consider when developing a brand are? Select one: a. Early adopters and the development gap. b. The brand experience and the brand expression. c. Initial market entry and follow-on strategies. d. The size of the target market and competitive intensity. e. The cognitive and the intellectual components.

What do marketers mean when they speak of a "consideration set" ? Select one: a. The amount of time a consumer spends evaluating each alternative in the 'awareness set' b. The subset of the alternatives identified during the search phase that the consumer evaluates before making a decision. c. The feelings of remorse a consumer may have following a major purchase involving multiple items. d. The set of criteria used to evaluate alternatives. e. Fashion-forward thinkers who people ask for advice when purchasing socially consumed goods.

What do we mean when we say a customer has the resources to buy a product? Select one: a. The person would really like to buy the product but doesn't have the money right now. b. The person has the time, money and authority to make the purchase c. There are no laws restricting the sale of that particular product. d. The person is aware of the features of the product and recognizes the value. e. The product is in stock and the customer can purchase it immediately.

What do we mean when we speak of the length of a product line? Select one: a. we mean all of these when we speak of product line length. b. The number of choices within a product category c. The number of different kinds of products carried by a business d. The range of prices associates with a particular group of products e. The age of the inventory for a particular product Feedback

What do we mean when we speak of the price/value heuristic? Select one: a. That in general, price is the most important component of value. b. That in general, people perceive a product with a higher price to be a better product c. That for socially consumed goods, price is part of the product. d. That price is only one factor people use to determine a product's value e. That in general, the higher the price, the higher the value of the product

What is the difference between the supply chain and the value chain? Select one: a. The supply chain concept is used with tangible products while the value chain concept is used with services. b. Very little. The supply chain is the part of the value chain. c. Supply chain is a term used in marketing textbooks while value chain is a term used in Management textbooks. d. The supply chain deals with the cost side of the product while the value chain deals with the revenue side of the product. e. the supply chain refers to activities around the physical product while the value chain deals with information flows associated with distribution.

What is the essence of the loss aversion principle? Select one: a. People will be angry if they find out they paid too much money for a product. b. People will work harder to avoid a loss than they will to achieve an equivalent gain. c. People will double their bet after taking a loss in order to win their money back. d. People prefer to discard obsolete products when newer products are available. e. People will enjoy spending money more if they earned it than if they received it as a gift.

When dealing with logistics there is a fundamental trade-off between ________ and ________. The goal is to keep one high and the other low, but they tend to increase together. Select one: a. Cost, efficiency b. Cost, service level c. Profit, revenue d. Service, responsiveness e. Upstream, downstream.

When we speak of a consumer, we are speaking of...? Select one: a. The aggregate demand for a good or service. b. A person who purchases things for personal consumption. c. A small business that purchases things for resale to other businesses. d. We are speaking of all of these when we speak of a consumer. e. An individual who is exactly like every individual who buys a specific product.

When you are dealing with the ____________ characteristic of a service, one approach is to institute procedure manuals and training programs so that your service employees will know how they are supposed to deal with customers. Select one: a. Inseparability b. Variability c. Invisibility d. Intangibility e. Perishability

Which of the following is NOT a concern during the decision stage of the consumer buying process? Select one: a. Can I trust the person who is selling me the product. b. Identifying all of the alternative products available. c. How do I take possession of the product. d. How do I pay for the product. e. Which product will best serve my needs.

Which of the following is NOT a cost typically associated with logistics? Select one: a. Storage b. Product development c. Order processing d. Stockout. e. Materials handling

________________ is the basic unit of exchange? Select one: a. A share of common stock. b. A transaction c. A legal contract. d. Trust. e. Currency.

Which of the following is NOT a factor a business customer is likely to consider when making the decision to purchase an industrial product? Select one: a. Single source or multiple sources b. Will the product clash with his/her home decor c. Delivery schedule d. Financial terms e. Whether the company can manufacture the product internally

Which of the following is NOT a source of information for a typical Marketing Information System? Select one: a. Acquired databases b. Computer systems c. Marketing research d. Marketing intelligence e. Internal data

Which of the following is NOT a source of information for a typical Marketing Information System? Select one: a. Internal data b. All of these are sources of information for a typical marketing information system. c. Acquired databases d. Marketing research e. Marketing intelligence

Which of the following is NOT part of the price of a credit card for college students? Select one: a. The interest rate charged on purchases b. All of these are part of the price of a credit card for college students c. A 3% charge for cash advances d. Feeling depressed because of your credit card debt. e. A monthly fee for the card

Which of the following is a question that should be answered in the 'define the problem' stage of the market research process, well before any money is invested in the project? Select one: a. Should we do pseudo research? b. What action will we take based on the results of the research? c. Is the measurement valid? d. Is there any secondary data? e. What concepts will we use to illustrate the choices to participants?

Which of the following is an expected outcome of the consumer buying process? Select one: a. A consumer recognizes a need, identifies several alternative ways to satisfy the need, evaluates the different choices, makes a purchase, and goes through cognitive dissonance after making the purchase. b. All of these are expected outcomes of the consumer buying process. c. A consumer recognizes a need but decides not to do anything about it. d. A consumer recognizes a need, identifies several alternative ways to satisfy the need, evaluates the different choices and makes a purchase. e. A consumer recognizes a need and makes a purchase.

Which of the following is one of the three typical uses for information in a decision support system as described in class? Select one: a. To manipulate data in order to make the financial reports look better. b. To support ad-hoc or one of a kind decisions. c. To persuade potential customers to try your product d. To justify decisions that have already been made e. To create jobs for information technology professionals

Which of the following is one of the three typical uses for information in a marketing information system as described in class? Select one: a. To serve as a resource for investors b. To generate routine reports showing progress toward meeting marketing goals. c. To make ad-hoc changes in the competitive environment d. These are all uses for information in a typical marketing information system. e. To create jobs for information technology professionals

Which of the following research techniques is most likely to be used in exploratory research? Select one: a. Mail survey b. Qualitative data collection c. Quasi-experiment d. Longitudinal research. e. Survey questionnaire

Which of the following sampling techniques is a nonprobability sample? Select one: a. Iceberg sample b. Snowball sample c. Random sample d. Stratified random sample e. Systematic sample

Which of the following sources of information is frequently ignored when determining a company's actual market position? Select one: a. The judgment of top executives. b. Complaints from dissatisfied customers. c. Information provided by retailers who sell your product. d. Information provided by the company's advertising agency. e. Information about how the product is selling.

Which of the following statements about creating a brand is true? Select one: a. It is relatively inexpensive to create a national brand when the product sells for less than $1 b. Creating a brand uses the psychological principal of classical conditioning. c. Creating a brand is very different from positioning. d. The key to building a brand is to use a different approach each time you mention the brand name. e. It is important not to let the customer confuse product benefits with benefit with the brand name.

Which of the following statements about professional buyers is FALSE? Select one: a. Professional buyers are frequently trained in negotiation techniques. b. The goal of the professional buyer is get the lowest purchase price c. Professional buyers may know more about the product they are buying than the person selling it to them. d. Professional buyers usually deal with a limited range of products. e. Professional buyers are people and have personal as well as professional reasons for making decisions.

Which of the following statements about value is TRUE? Select one: a. Value is engineered into a product at the design stage. b. Two different customers might have different perceptions of the value of the same product. c. Customers might not be able to perceive the full value of a product unless the manufacturer explains how to use the product. d. The higher the quality of a product, the more valuable it will be. e. Value is the actual cost minus the perceived cost of a product.

Which of the following statements comparing the consumer buying process to the business buying process is TRUE? Select one: a. Businesses are more likely to make a purchase based on an emotional reactin to the product than consumers are. b. Both businesses and consumers solve problems using a five-step process. c. Consumers are more analytical about their purchases than businesses are. d. Both businesses and consumers purchase products for their personal enjoyment. e. Both businesses and consumers are trained to consider factors such as the reliability of the supplier when making the purchase decision.

Which of the following was NOT one of the bases for market segmentation discussed in class? Select one: a. Geographic b. Statistics c. Psychographic d. Demographic e. Buying Situation

Which of these would be considered an indirect marketing channel? Select one: a. A producer and a customer b. A customer, a retailer, and a producer c. A producer and a retailer d. A retailer and a customer e. A producer, a wholesaler, and a retailer.

Why did your instructor make the point that you can't just have "attitude"? Select one: a. Because attitudes are relatively stable b. Because an attitude always has to be about something c. Because you need to have two or more people to have an attitude d. Because attitudes have to be learned e. Because attitudes depend on a person's personality

Why is it important to understand the assumptions that went into the research when you are making recommendations? Select one: a. Because if you understand the assumptions, you can use them as excuses if the results dont come out the way you had hoped. b. So you don't overgeneralize - or read more into the data than is actually there c. All of these are reasons why it is important to understand the assumptions that go into a research project. d. Because assumptions allow you to make inferences beyond what is indicated by a strict analysis of the data. e. Because you can't use assumptions with advanced statistical techniques

Why is it that many businesses may be unaware of how they are actually perceived in the market place. Select one: a. Because dissatisfied customers usually keep their feelings to themselves. b. Because much of the information executives get is from people who are paid by the company. c. Because sales information does not reflect peoples opinions about a company. d. Because customers may not be aware of their true feelings about a company or product. e. Because market positions change rapidly and information is frequently out of date.

You have ____________ to take each mini test. Select one: a. Three attempts b. Two weeks c. One week d. One day e. All semester

You may take each mini test ___________ time(s) during the period it is available. Select one: a. 10 b. unlimited. c. 3 d. 14 e. 1

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Recently, one of her colleagues, Bruce has been complaining that the copiers are jamming a lot. She thinks it might be because the paper is the wrong kind for the company's copiers. Also, the chairman of the board made a speech to all of the employees stating that the company is going to become environmentally sensitive and there will be bonuses for people who can improve the company's environmental record. Younjin had heard that some recycled paper is as good or better than standard copier paper. She decides to re-think where she is buying her copier paper. Younjin will probably treat copier paper as a __________ decision? a. Straight rebuy b. Modified rebuy c. Make or buy d. New task buy e. Don't fix if it's not broken

Younjin is a purchasing agent for Acme enterprises. Currently, the company makes a line of fire-proof file cabinets that are well regarded by its customers. One of her responsibilities is to purchase brochures explaining the benefits of the Acme file cabinets. She was recently authorized to purchase a computerized document management system for the company at the cost of several million dollars. With this new technology, she may be able to print the brochures in the factory rather than ordering them from a printing company as in the past. Younjin will probably treat this as a ___________ decision? Select one: a. Modified rebuy b. Make or buy / In House vs Outsourcing c. Make or break d. Straight rebuy e. New task buy

Zach loves the sport of soccer. He is a huge fan of the Brazilian national team. He collects pictures of the team and wears the Brazilian team colors during world cup soccer matches. He hopes to be good enough to play on the Brazilian soccer team some day. For Zach, the Brazilian soccer team is a(n) ____________? Select one: a. Conformity group b. Aspirational group c. Dissociative group d. Membership group e. Consideration set

_________ utility exists when a product is readily accessible where potential customers need it Select one: a. Image b. Place c. Form d. Posession e. Time

_____________ occurs when there is a clash of goals and methods between distribution channel members. Select one: a. Whining. b. Channel conflict c. Cognitive dissonance d. Disintermediation e. Administered systems

________________ consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests and behavior can be grouped. Select one: a. Market segment b. Social class c. Culture d. Target market e. Reference group

Value is a function of ___________ and ___________? Select one: a. Benefits, cost b. perceived benefits, actual cost c. perceived benefits, perceived cost d. Observed benefits, perceived cost e. Output, input

__________ is a function of benefits received and their cost Select one: a. satisfaction b. Price c. Value d. Feature e. Marriage

Why are sales teams becoming more popular in personal selling?

Because it increases the number of potential employees for a sales organization

Why is it important for a marketer to know the ownership structure of a retail store?

Because the ownership structure determines who you need to approach in order to sell to the store.

The Foreign Corrupt Practices act of 1977 makes it illegal for U.S. businesses to __________ foreign government officials, even if it is the custom do to so that country?

Bribe

Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process?

Build relationships

_____________ are the set of moral rules that govern how businesses operate, how decisions are made, and how people are treated?

Business ethics

A _____________ includes all of the activities involved with taking a raw material, turning it into a finished product, and getting it into the hands of the customer? Select one: a. Supply network b. Marketing channel c. Value chain d. Channel flow e. Channel strategy

A ______________ is a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands relative to its own and then take marketing action? Select one: a. Market position b. Mental picture c. Perceptual map d. Brand family e. Point of purchase display

A ______________ is one for which a customer will accept no substitute? Select one: a. Unobtainable product b. Unsought product c. Specialty product d. Convenience product e. Shopping product

A benefit is...? a. part of your employment package b. determined by the producer of a product c. the usefulness a customer receives from using your product d. negotiated between buyer and seller e. determined by the market place

A direct marketing channel consists of? Select one: a. A customer b. A retailer and a customer c. A producer and a customer d. A producer, a truck, and a retailer. e. A producer and a retailer

A discontinuous innovation is? Select one: a. A product that is "new to the world" b. A product so innovative that it can change the way we live. c. A discontinuous innovation is all of these things. d. An opportunity to gain a significant competitive advantage. e. A product so new that customers may not understand how to use it.

A(n) ____________ is an entity that assists in the movement of products through the channel? Select one: a. Principal b. End user c. Intermediary d. Customer e. Supplier

A(n) ______________ targeting strategy focuses on one specific marketing segment with one marketing mix? Select one: a. Multisegment b. Undifferentiated c. Focus d. One-to-one e. Pretentious

Proctor & Gamble frequently creates a separate brand identity for each product they bring to market. This strategy is called _______________. Select one: a. Excessive branding. b. Generic branding c. Individual product branding d. Private branding. e. Family branding

According to Michael Porter, there are three fundamental marketing strategies. Why is this important to understand in a discussion of market segmentation? Select one: a. Because there is only room for one low-cost producer and one differentiated product in an industry, businesses need to use segmentation to determine which strategy will be best for their product. b. Because all strategies require appropriate market segmentation in order to be successful. c. Because there is only room for one low-cost producer in an industry, everybody else will need to use a differentiation or focus strategy. Market segmentation is a tool you can use to help differentiate your product. d. Because there is only room for one low-cost producer in an industry, everyone else will need to segment their markets in order to keep their costs competitive with the low cost producer.

According to Ries and Trout, consumers organize products into categories in their minds. The goal of positioning is to? Select one: a. Cross-index the categories so consumers are reminded of your product when thinking of something else. b. Convince consumers that other products in the category are not as good as yours. c. Make it so that your product is the first thing that comes to mind when a category is mentioned. d. Enter your product into as many categories as possible to increase the chance it comes up with a category. e. Find the strongest category in a consumer's mind and make sure your product has a position somewhere in that category.

Age cohorts are an effective basis for market segmentation because Select one: a. Children have more disposable income now then they did after World war II b. Age is a better indicator of consumption patterns than is gender. c. People in the same age group share many similar experiences which could affect their consumption patterns d. Baby boomers were born after World War II e. It is easy to determine a person's age

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4 per sandwich. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. Bruce needs to make a profit of $25 to make it worth his while. How many sandwiches does Bruce need to sell to make the project worthwhile? Select one: a. 25 b. 7 c. 35 d. 10 e. cannot be determined with this information

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose to have the product shipped via UPS ground because it was the least expensive shipping option. Teachersupplies.com is using a ___________ approach to geographic pricing? Select one: a. Promotional allowance. b. Uniform delivered price c. FOB (free on board) d. Freight absorption e. Zone delivered price

Bruce worked for the Northwest Table Pad company. The table pad industry was created in the early 20th century and became very profitable in the post world war II economic boom. In recent years, the number of table pad manufacturers had declined and fewer customers were buying table pads because formal dining rooms were out of fashion and new protective finishes made the need for table pads less obvious to consumers. Table pads were in the ____________ stage of the product life cycle? Select one: a. Introductory b. Growth c. Decline d. Rebirth e. Maturity

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. In order for the project to go forward, the company needs to show a $10,000 profit. How many backpacks will BruceCo have to sell in order for this project to be acceptable? Select one: a. 110 b. 157 c. 220 d. cannot be determined with this information e. 367

Carlina operates a wholesale flower market serving florists in her city. She orders her roses from Ecuador because the quality is good and the prices are very competitive. Because the roses become unsalable after a day or two, Carlina uses _________ transportation for this part of her business? Select one: a. Water b. Truck c. Air d. Rail e. Pipeline

Carlina operates a wholesale lumber business serving contractors in her Midwestern city. She takes orders from a central location and delivers the lumber and other building materials to the contractor's jobsite using her own trucks. She orders her lumber from a mill in Washington State. Because the lumber is bulky and she orders large quantities she uses _________ transportation to ship the lumber from Washington? Select one: a. Water b. Pipeline c. Rail d. Truck e. Air

During the _____________ stage of the fashion cycle, new styles are sought by trendsetters? Select one: a. emulation b. excitement c. distinctiveness d. economic

Eseffisue Company has developed a portable solar-powered global positioning (GPS) device. There is a high demand for the product and until now, there wasn't anything like it on the market at any price. The company has a patent and the most important attribute for a GPS device is quality. Eseffisue Company should use a ____________ approach to pricing this new product? Select one: a. Trial pricing b. Variable price c. Skimming d. Penetration e. Environmental

For ____________ products, an increase in demand for one product leads to a decrease in demand for the other product? Select one: a. convenience b. B2B c. substitute d. shopping e. complementary

For many products such as candy bars, there is a price consumers expect to pay for the product. Companies using the _____________ to setting prices will use this price as a basis for positioning their products as prestige or value brands? Select one: a. loss-leader approach b. Captive approach c. Above or below approach d. Price leadership approach e. Customary pricing approach

Frodo was a massage therapist. He was very good at dealing with lower back pain. He gave his clients a book that they could use to keep a record of their visits to his practice and record their thoughts and feelings about the therapy. In the front of the book was a beautiful picture and an inspiring poem that would remind his clients that lower back pain can be treated with a visit to Frodo. By using the book, Frodo's patients could benefit from his practice even if he wasn't with them personally. Frodo was using the ___________ approach to making his service seem 'real'? Select one: a. Visualization b. Association c. Physical representation d. Documentation e. Word of mouth

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. Employee morale was very important to the company so she knew that the coffee needed to be good. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She called all three and asked them to come in and put on a demonstration so that the employees could decide which coffee they liked best. The winner of the taste test would get the contract Hermione used ____________ to evaluate the quality of the service? Select one: a. Comparatives b. Intangibles c. Experiential attributes d. Credence attributes e. Search attributes

Iago and Desdemona were merchants selling a variety of goods in Venice Beach. They felt they had saturated the local market and were thinking of expanding their business to a nearby community. What factors should they consider as they decide which geographic segment to enter next? Select one: a. Can they save money by serving both communities out of the same warehouse? b. Is the community growing or shrinking? c. They should consider all of these factors. d. Is there a market for their products in the new community? e. Are there competitors already in place in the new market?

In addition to determining the amount of money you will receive for your product, price serves as a __________ tool, signaling to customers where your product stands in relation to similar product offerings? Select one: a. Financial b. Intangible c. Positioning d. Value e. Advertising

In order for a firm to have an increase in market share as a pricing objective, it is assumed that the firm has? Select one: a. no competition b. social responsibility c. profits d. leading market share e. value.

In the maturity stage of the product life cycle, profits can be increased by? Select one: a. Reducing market share b. Increasing sales c. Reducing your costs. d. Skimming. e. Raising prices

Jiwon has successfully introduced a new kind of candy for college students at the college bookstore. Her candy is selling very well and she is thinking of marketing it nationally. She is not sure if college students are buying it because of the colorful packaging or because it has lots of caffeine. She will have to conduct ___________ research to determine which factor is responsible for college students buying so much of her candy? Select one: a. Descriptive b. Focus group c. Causal d. Exploratory e. Pseudo

Jiwon is thinking of developing a candy specifically for college students. Before she begins manufacturing, she has decided to conduct some research to determine whether or not she should include caffeine in the candy. If the results show students prefer caffeine, she will market it as a caffeine product. If the results show students don't care about caffeine, she will market it as an energy product. Jiwon is probably in the __________ stage of the market research process? Select one: a. Develop the research plan b. Set research objectives c. Define the problem d. Answer specific questions e. Take action based on the findings

Kendra runs a wholesale distribution center for candy. Each month she receives a shipment of candy from her supplier. She always has enough inventory on hand so that her retail customers can buy cases of candy whenever they need it. Kendra is adding value by ___________? Select one: a. Creating assortment b. Breaking wind c. Storing d. Transporting e. Grading.

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal profit for the 700th cup? Select one: a. $10.50 b. $10.00 c. $5.55 d. $10.25 e. $4.95

Manny opened a coffee shop right across the street from a Barstucks coffee shop. Manny had studied the market and he knew that it cost Barstucks, a national chain, $1.40 to make a cup of coffee that sold for $2.50. Manny could make the same cup of coffee for $1.10 and could sell it profitably for $2.25. The day he opened his shop, the Barstucks across the street offered a 99cent cup of coffee special. No customers came to Manny's store and he had to close. The day he closed his store, the Barstucks 99 cent special ended and the price of a cup of coffee went up to $2.75. This was probably? Select one: a. Price fixing. b. A coincidence. c. Predatory pricing d. Price discrimination e. Bait and switch pricing.

Many complicated products such as computers or automobiles are assembled using many component parts. Once a sales forecast for the main product has been established, it is relatively easy to estimate sales of the component products because of the ____________ characteristic of business markets? Select one: a. Inelastic demand b. Buying center c. Derived demand d. Acceleration principle e. Market structure

Many retail stores use "secret shoppers," people who pretend to be customers, go into a store and do all sorts of things. They take notes and are able to report back what is really happening in the stores. This technique is used for _____________? Select one: a. Gap analysis b. Identifying differences between management perception of quality and written quality standards c. Secret shoppers are used for all of these things. d. Measuring service quality e. Identifying differences between quality standards and service delivery

Marketers of ___________ and __________ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process? Select one: a. Memory based, commercial b. Familiar, repeat purchase c. New, unsought d. Marketers should use intrusive advertising for all products.

Materials handling deals with loading and unloading products and moving them short distances from place to place. One of the biggest issues in material handling is? Select one: a. Breakage b. Theft c. All of these are issues associated with materials handling d. Damage control e. Keeping track of where things are

Most established brands are in the ____________ of the product life cycle? Select one: a. Decline b. Growth c. Maturity d. Introductory e. Rebirth

Nintendo chose a ___________ approach to pricing for a new game console because they felt the market for this product was price sensitive, there are major economies of scale to be achieved, and both Sony and Microsoft would be introducing new game systems shortly? Select one: a. Trial pricing b. Variable price c. Penetration d. Skimming e. Game theory

Of the three ways to satisfy a need, which one is used to create exchanges? Select one: a. Steal it. b. Fake it. c. Buy it. d. All of these are used in exchanges. e. Make it.

One of the disadvantages of bringing a discontinuous innovation to market is? Select one: a. There is less risk associated with discontinuous innovations than with incremental innovations. b. All of these are disadvantages of discontinuous innovations. c. You may have to spend a lot of effort helping customers understand the value of the new product. d. The product is so innovative that it may change the way we live. e. You can develop a significant competitive advantage if it works.

One of the ways to leverage brand equity is to engage in ____________ where you allow others to use your brand name for a fee or other compensation? Select one: a. Larceny. b. Ingredient branding c. Licensing d. Cross-marketing e. Co-branding.

One way to segment markets for business customers is by industry type. This approach is attractive because of __________ which makes it cost effective to measure the number of potential customers in an industry? Select one: a. Zip codes b. Salespeople c. NAICS codes d. Local media. e. Cable television

People have two decisions to make when they use products to solve a problem. One of them is? Select one: a. Does the product come with a guarantee? b. How many units of the product will I need? c. Which alternative is best? d. Do I like the product well enough to buy it? e. What is the limit on the number of alternatives to consider?

Perception deals with...? Select one: a. The number of alternatives we are able to consider during the information search stage of the consumer buying process. b. The physical environment in which we live c. How we interpret the world around us d. Our ability to communicate without words. e. Our understanding of our true motivation.

Price elasticity is the slope of the demand curve. When price elasticity is HIGH? Select one: a. Demand will decrease at all price levels b. Demand will increase at all price levels c. A small change in price will lead to a large change in quantity demanded. d. A small change in price will have no effect on quantity demanded e. A small change in price will lead to a small change in quantity demanded

Price elasticity is the slope of the demand curve. When price elasticity is LOW? Select one: a. You can decrease revenues by increasing prices b. You can increase profits by cutting prices c. You can increase revenues by increasing prices d. You can decrease profits by decreasing prices e. You can increase revenues by cutting prices.

Raul purchased a microwave oven. He brought it home, plugged it in and nothing happened. Bummer. So he immediately returned it. The customer service representative was unwilling to let Raul return the microwave saying that they did not allow returns on electronic merchandise. Raul pointed out that even though there is nothing in writing, _________________ means that if the microwave doesn't work he can return it. Period. End of story. Select one: a. The squeaky wheel principle b. The express warranty c. The warranty of merchantability d. The principle of informed consent e. Common sense.

Roxanne has completed her positioning analysis and now understands why her line of adult milk beverages has been performing so badly. There are too many competitors out there and she hasn't been able to gain market share from the category leader - Bruce's Power Gulp, a vitamin enhanced milk beverage. She believes there are people out there who would prefer a less-processed product at a lower price. She decides to change her advertising slogan to "The Fresh Alternative to enhanced milk beverages". Roxanne is trying to? Select one: a. She is trying to do all of these things. b. Make people believe that the market leader is selling an unhealthy drink c. Reposition her product against the competition d. Reduce her production costs e. Reposition her product against itself

Sergio is the head designer for 'Robertson House' a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _________ stage of the consumer buying process. Select one: a. Point of purchase b. Problem solving c. Need recognition d. Internal motivation e. Decision

Sometimes technology can make it difficult to create organizational intelligence. For example? Select one: a. Computer databases can be designed to make data entry simple and fast. b. Department databases have huge egos and refuse to cooperate with other databases. c. Different departments may have different databases that are independent of each other. d. Computers can make mistakes processing data. e. Database consolidation can eliminate legacy systems.

Tami owned the Subway franchise in Centennial Village at San Francisco state University. She heard that another franchisee had been granted permission to open a Subway in the student union. She immediately complained to whoever would listen to her that the new store would take away most of her business. This is an example of? Select one: a. Vertical integration b. A price war c. Horizontal conflict d. Disenfranchisement e. Vertical conflict.

The Bay Area Regional Transit Authority (BART) operates a light rail system in the San Francisco Bay area. Passengers purchase a ticket with a magnetic strip that keeps track of how much money is on the ticket. The cost for a ride is anywhere from about $4 to about $15 depending on how far you are going. You can go to any of the downtown stops for the same price. BART is using ___________ geographic pricing? Select one: a. FOB factory b. Uniform delivered price c. Zone delivered price d. Freight absorption e. Promotional allowance.

The Boston Consulting Group matrix is a 2x2 matrix with ___________ on one axis and ___________ on the other axis. This creates four positions: cash cows, stars, problem children (or question marks) and dogs. Select one: a. market attractiveness, competitive position b. market growth rate, inflation c. market attractiveness, relative market share d. Product growth rate, market growth rate e. product lines, prices

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory? Select one: a. Sensing-Intuitive b. Thinking-feeling c. Optimist-pessimist d. Extrovert-Introvert e. Judgment-perception

The San Francisco Municipal Railway (MUNI) Charges $2.50 for an adult passenger. Once you have purchased a fare (and taken a transfer as proof of payment) you can ride anywhere on the system for the next 90 minutes. This is an example of __________ geographic pricing. Select one: a. Freight absorption b. Promotional allowance. c. Uniform delivered price d. Zone delivered price e. FOB factory

The actual product, in the levels of the product concept refers to: Select one: a. The physical, or what we think of as the tangible component of the product. b. The physical product or, in the case of a service, the service offering. c. The bundle of tangible and intangible attributes we normally think of as the product. d. The core benefit the product is designed to deliver. e. All of these are what the actual product refers to.

The augmented product in the levels of the product concept refers to: Select one: a. The core feature set as determined by the manufacturer. b. The intangible attributes that along with the tangible attributes deliver the core benefit to the consumer. c. The actual product along with other features such as a service guarantee and cool packaging that enhance the value of the core benefit delivered to the customer. d. The core benefit disguised by fancy packaging because the customer may not be aware of what the core benefit really is.

The basic issue when you are dealing with the __________ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced? Select one: a. Invisibility b. Intangibility c. Inseparability d. Perishability e. Variability

The goal at the ______________ stage of the product life cycle is to maintain market share and extend the life of the product. Select one: a. Rebirth b. Decline c. Maturity d. Introductory e. Growth

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company identify feasible ideas and turn them into product concepts? Select one: a. Business analysis b. Idea generation c. Screening and evaluation d. Technical development e. Commercialization f. Market Testing g. New-product strategy development

The second stage of the consumer buying process is? Select one: a. Where the consumer recognizes there is a problem needing a solution. b. Creation of the 'consideration set' c. identifying potential solutions to the problem. d. Create dissatisfaction with current products e. Post-purchase behavior

The second stage of the consumer buying process is? Select one: a. Where the consumer tries to identify different ways to satisfy the need. b. Affected by the cost of acquiring new information c. All of these are part of the second stage of the consumer buying process. d. The creation of the 'awareness set' e. The information search

The second stage of the consumer buying process is? Select one: a. Where the consumer tries to identify different ways to satisfy the need. b. The information search c. All of these are part of the second stage of the consumer buying process. d. Affected by the cost of acquiring new information e. The creation of the 'awareness set'

The value of having a wide product mix is? Select one: a. It is easier to manage several different product lines than it is to manage only one because you have fewer decisions to make. b. It allows you to run several different advertising themes at the same time, increasing the chances of finding an advertisement that really works. c. It allows you to meet other needs of the customers in your target market, increasing the strength of the relationship with your target customers. d. It allows you to feature both tangible and intangible products in the same product category. e. Having wider packages allows you to take up more shelf space in retail stores, increasing the chances that a customer will notice your product.

The value of the levels of the product concept is that the actual product can be thought of as? Select one: a. The only way to deliver the core benefit to the customer. b. Unfinished until the product has been enhanced by offering a service guarantee. c. A way to deliver the core benefit to the consumer. d. The second step in a marketing program. e. The linkage between the core benefit and the market segment.

Two of the major constraints on any market research project are... Select one: a. Stakeholders, investors, and customers b. Clients and managers c. Time and money d. The availability of information and the cost of acquiring that information. e. Uncertainty over methods and probabalistic variables.

Typically, ______________ is done by the retailer of a product rather than by the manufacturer. Select one: a. Individual product branding b. Family branding c. Private-label branding. d. Generic branding e. Excessive branding.

What do we mean when we say a market segment is "reachable"? Select one: a. People in the segment use social media. b. People in the segment are open to new ideas. c. There is a way of communicating with people in the segment. d. We mean all of these things when we say a market segment is "reachable." e. There is a way for people in the segment to contact the manufacturer in case there is a problem.

What is pseudo-research? Select one: a. Research conducted on issues that are not important enough to justify the investment. b. Psuedo-research is when the researchers do not actually collect the data, but they present their findings as if they had actually done the research. c. Research that is conducted to support a decision that has already been made. d. Research that is not conducted according to scientific principles. e. Research that is conducted on the zombie apocalypse and in other pseudo sciences.

What is the NAICS? Select one: a. A system for classifying businesses in the United States, Canada and Mexico b. A system that classifies businesses according to their primary line of business. c. All of these are the NAICS. d. A replacement for the old Standard Industrial Classification (SIC) code. e. The North American Industry Classification System.

What is the difference between a business customer and an individual consumer. Select one: a. Mass marketing techniques are less effective on business customers because business buyers are professional and are trained to ignore advertising. b. Mass marketing techniques are usually more effective in business markets because business buyers watch the same television shows as everybody else. c. Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers. d. Mass marketing techniques are usually less effective in business markets because advertising creates smaller transactions than personal selling. e. Price is more important to the business customer than to the individual consumer because business customers buy products in order to make money.

What is the difference between a relationship and an exchange? Select one: a. Participation in a relationship is required, participation in an exchange is voluntary. b. Relationship marketing deals with transactions involving groups of people, exchanges involve transactions involving individuals. c. Relationship marketing takes a longer-term perspective than exchange marketing. d. A relationship deals with satisfying wants, and exchange deals with satisfying needs. e. A relationship deals with social goods, an exchange deals with physical goods.

What is the difference between a research objective and a business objective? Select one: a. A research objective is usually short-term, while a management objective is usually long-term b. All of these are differences between a research objective and a management objective. c. A research objective provides an answer to a specific question, a management objective may require several sources of information d. A research project and a management project may have the same objective e. A research objective provides information, a management objective can only use information that has been provided.

What is the hard way to become the category leader? Select one: a. To close your eyes and wish really, really hard that you are the category leader; then open your eyes and see if you have become the category leader. b. Find an attribute that nobody else is talking about and develop a market position featuring that unique attribute. Incorrect c. Use the marketing mix to improve your position in an existing category. d. To acquire the leading products in the category through merger and acquisition. e. Spend money on advertising to make consumers think your product is superior when, in fact, it is not.

What is the most important stage of the market research process? Select one: a. Develop the research plan b. Take action based on the findings c. Define the problem d. Answer specific questions e. Set research objectives

What is the relationship between the law of truly large numbers and market segmentation? Select one: a. There has to be a large number before you can have a market segment. b. The law of large numbers deals with people while market segments deals with products. c. The law of large numbers is an abstract concept that helps us understand why market segmentation works. d. The law of large numbers is the same thing as market segmentation. e. The law of large numbers determines how many market segments will be possible.

What would a reader expect to find in the limitations section of a research report? Select one: a. A one-page summary of the major findings. b. A description of the methods used to collect the data. c. Any compromises the researchers needed to make in order to complete the study d. The analysis methods used in the report. e. A recommendation based on the research

Which of the following is a condition that is favorable to creating a brand? Select one: a. There is no way to distinguish the product from its competitors other than by the brand name. b. Consumers are unwilling to pay premium prices for similar products. Incorrect c. Quality and value are easy to maintain consistently. d. There is limited availability of the product. e. The product is a similar to competitive products.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment? Select one: a. They must be able to communicate with each other. b. There must be a large number of people in the segment. c. The market potential of the group must be large enough to make it economically viable. d. They must be from a similar ethnic background.. e. They must be the same as each other.

Which of the following is a condition that must be met before you can consider a group of people to be a market segment? Select one: a. They must be similar to each other in age. b. They must be able to communicate with each other. c. They must be similar to each other, at least with respect to you product. The market potential of the group must be large enough to make it economically visible d. They must like each other. e. They must be different from each other in every way that is not related to your product.

Which of the following is an example of a product? Select one: a. A vacation in Jamaica. b. A new car. c. All of these are products. d. A hospital emergency room. e. A political candidate.

Which of the following is an example of a question that can be answered using breakeven analysis? Select one: a. How much will we have to increase our price to meet a target return of 7.5% assuming sales remain constant? b. How much will revenue have to increase before a new investment in plant becomes profitable? c. All of these are questions that can be answered using break even analysis. d. How many additional units must we sell to pay for an advertising campaign? e. Can we stay profitable if we match a competitor's price cut in order to maintain sales volume?

Which of the following pairs would NOT be considered to be complementary products? Select one: a. ink jet printer, ink cartridges b. remote controlled drone, batteries c. All of these are complementary products d. milk, cookies e. Keurig coffee maker, K cups

Which of the following scenarios would probably be considered to be deceptive reference pricing? Select one: a. These could all be considered to be deceptive reference pricing. b. Putting a brand new product in a store and marking it at 30% off manufacturer's suggested retail price. c. Putting a brand new product in a store and marking it at 30% off regular prices. d. Taking merchandise that hasn't sold as well as hoped and putting it on sale at 30% off regular prices. e. Buying merchandise at 50% lower than usual and putting it on sale for 30% off comparable prices as a special purchase.

Which of the following situations describes a business customer? Select one: a. A person who surfs the web looking for knitted baby clothes. b. A person who buys yarn in order to knit a sweater for himself c. A person who buys yarn in order to knit baby clothes for sale on her "darned babies" website. d. All of these are business customers. e. A person who notices that her baby could use some new knitted baby clothes.

Which of the following statements about Maslow's Hierarchy of Needs is TRUE? Select one: a. Risk takers are motivated by ego needs rather than by safety needs. b. All of these statements about Maslow's Hierarchy of needs are true. c. Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators. d. Most people are more concerned about their self image than whether or not they have enough to eat. e. Ego-centric people are more concerned about their self image than whether they have enough to eat.

Which of the following statements about fashion is FALSE? Select one: a. Fashion products can have a product life cycle of from a few months to several years. b. Fashion products with very short product life cycles are called fads c. Forecasting is less important for fashion products than it is for other products. d. Fashion marketing uses 'style obsolescence' to make products seem out of date. e. Fashion marketing works because we want to be unique and at the same time we want to be part of a group

Which of the following statements about motivation is FALSE? Select one: a. All of these statements about motivation are false. b. Physiological needs are a basic source of motivation c. All needs are equally motivating d. Psychological needs are a basic source of motivation e. People are not always aware of their true motivation

Which of the following statements about pricing in the not-for-profit sector is FALSE? Select one: a. Financial goals are secondary to non-financial goals b. The price to the customer may be below the cost of providing the service with the difference made up by a third party. c. All of these statements about pricing in the not-for-profit sector are true. d. Embarrasment or sweat equity may be non-monetary componenets of the not-for-profit price to the customer. e. many not-for profits use "sliding scale" fees where people who can afford to pay more are charged higher fees.

____________ are the costs of production that do not change with the number of units produced? Select one: a. Total costs b. Variable Costs c. Fixed costs d. Marginal costs e. Opportunity costs

Which of the following statements about the consumer buying process is FALSE? Select one: a. The consumer buying process deals with people who are purchasing things for personal consumption. b. Not everybody who starts consumer buying process ends up buying a product. c. Different people will go through the stages of the consumer buying process in a different order. d. The consumer buying process deals with human behavior. e. The consumer buying process deals with the way human beings solve problems.

Which of the following statements about the growth stage of the product life cycle is FALSE? Select one: a. Increasing numbers of customers creates the opportunity to develop profitable market segments. b. All of the other statements about the growth stage of the product life cycle are false. c. Increasing demand and decreasing competition lead to higher profits. d. Increasing demand and high profits encourage competitors to enter the market. e. Branding is an important tool to use in differentiating the product.

Which of the following statements about value is TRUE? Select one: a. An individual consumer will receive the same benefit from a product each time it is consumed. b. It is easy to help consumers appreciate the value they are receiving. c. The benefit that an individual consumer receives from a product is in the mind of the consumer. d. Consumers are very good at explaining what they want. e. Business consumers and individual consumers have similar needs.

Which of the following statements best describes the consumer buying process discussed in class? Select one: a. The consumer buying process is what allows human beings to make rational decisions even if they haven't studied economics. b. Human beings find the consumer buying process too complicated to use for anything but purchases of goods and services. c. A consumer trying to satisfy a need through a purchase is actually solving a personal problem. d. People use different approaches to making decisions about goods and services than they do in other areas of their lives. e. People can save time by using the consumer buying process instead of making a decision about a product.

Which of the following typically a responsibility of the marketing function in an organization? Select one: a. Prepare the organization's financial statements. b. All of these. c. Create need-satisfying offerings d. Create the organization's mission statement. e. Maintain an accurate mailing list of the company's stockholders.

Which of the statements about the levels of the product concept are true? Select one: a. It is a useful tool to use in developing new products. b. It looks at products from the customer's perspective c. All of these statements are true. d. It recognized that there are an infinite number of ways to satisfy a consumer's need. e. It can be used as a basis for positioning.

Which of these is an acceptable form of identification for the final examination? Select one: a. A valid passport from any country b. A California Drivers License c. A San Francisco State University Identification Card d. All of these are acceptable forms of identification for the final e. A United States Passport

Which of these statements about Porter's fundamental strategies is true? Select one: a. There are three fundamental strategies, demographics, behavioral, and geographic. b. In order to be the low cost producer, you have to differentiate. c. There is only room for one low cost producer in a market. d. There is only room for one company to differentiate itself in a market. e. In order to succeed, a company has to differentiate and become the low cost producer.

Which of these statements about needs vs. wants is TRUE? Select one: a. The greater the sense of urgency, the more likely a person is dealing with a need rather than a want. b. Needs deal deal with strong motivations while wants deal with weaker motivations. c. Needs deal with basic drives while wants are influenced by a person's social situation. d. All of these statements about needs vs. wants are true. e. Professional marketers make a careful distinction between needs and wants.

Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the company's copiers. The company makes lots and lots of copies so they use more than 60 cases of copier paper each week. Younjin will probably treat copier paper as a ____________ decision? a. New task buy b. Modified rebuy c. Straight rebuy d. Make or buy e. Repetitive

Yuli is the California regional manager for a suntan lotion company. Currently the company does not have a distributor in San Francisco. Yuli will use the company's marketing information system to decide whether or not to add a distributor in Northern California. This is an example of a(n) ___________ decision? Select one: a. Data mining b. Knee-jerk c. Ad-hoc d. Routine e. Executive

Yuli is the California regional manager for a suntan lotion company. Each morning a routine report identifies cities whose sales are 15% below projection for the previous day. This ____________ report allows Yuli to focus on stores that may need personal attention. Select one: a. Decision support b. Progress c. Exception d. Quarterly e. Ad-hoc

_________ is the usefulness or the benefit that a customer receives when he or she uses your product. Select one: a. Satisfaction b. Bang c. Utility d. Exchange e. Cost

_________ utility relates to the satisfaction proud owners get from the products they own. Select one: a. Place b. Form c. Posession d. Time e. Image

Which of the following is NOT a question suggested by ethical legal framework for evaluating marketing decisions?

Can I make money doing it?

The basic communication model describes how a message is transmitted from a sender to a receiver. The __________ is the medium used to transmit the encoded message to the receiver?

Channel of communication

As a rule, when it comes to choosing between advertising media, the higher the ___________, the higher the cost?

Channel richness

One of the techniques used during the _________ stage of the personal selling process is to assume that the customer will place an order and begin to discuss the details of the order?

The _______ stage of the personal selling process involves asking for the order.

Closing

When manufacturers engage in _______________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product?

Co-op advertising

When manufacturers engage in ________________, a form of trade sales promotion, a certain percentage of the retailer's sales goes into a fund that the retailer can use to advertise the manufacturer's product?

Co-op advertising

In dealing with the ____________ issue in sales management, there is a tradeoff between salary and commission?

Compensation

The ____________ component of the external macro-environment deals with alternate firms that could satisfy a specific market's need?

Competitive

When using the ____________ approach to selling, the salesperson will ask questions in order to better understand what problem the customer is trying to solve with the purchase.

Consultative

When using the _____________ approach to selling, the salesperson will ask questions in order to better understand what problem the customer is trying to solve with the purchase?

Consultative

The "Wheel of Fortune" is a game show that has been running on television for a long long time. In order to encourage people to watch the show the producers allow people to go online and create a Spin ID. Sometime during the television show, a spin ID number will be shown on the screen and the person who has that Spin ID will receive the same prize as the contestant on the game show. This is an example of a ___________ sales promotion?

Contest

Dora had an idea for a new smartphone accessory. He showed his idea to ten of his friends. Three of them loved the idea, four of them thought it was OK, but nothing special and three of them hated the idea. If he develops the product, he will need to sell at least 10,000 in order to make money. He was wondering whether or not to develop the product when he remembered the law of large numbers from Professor Robertson's marketing class. Based on that, he decided to __________?

Continue to develop the product knowing that because there are millions of smartphone users, there will probably be a large enough group who like the product for it to be successful.

A ____________ is a retail concept where two or more stores are owned and operated by the same company?

Corporate Chain

When sending and receiving information, a ________ is a method of encoding information?

Cue

One of the problems in acting ethically in international business is that __________ and _________, the basis of what is right and wrong, can vary from country to country?

Culture, religion

A dynamically continuous innovation is? Select one: a. A product that represents a major change to the way we live. b. A dynamically continuous innovation is all of these things. c. Frequently characterized by the words "new and improved" on a familiar package. d. Somewhere in the middle of the new product continuum. e. A way to create distance between your product and a competitor's product position.

A major disadvantage of _________________ is that it can be very expensive to create a unique brand identity for each product. Select one: a. Family branding b. Generic branding c. Private branding. d. Individual product branding e. Excessive branding.

A marketing channel always includes? Select one: a. A raw materials supplier b. A wholesaler c. All of the above d. An end user e. An intermediary

A(n) _____________ is a learned predisposition to respond to an object or a class of objects in a consistently favorable or unfavorable way? Select one: a. Education b. Product c. Motivation d. Attitude e. Market

A(n) _____________ is a name, term, design, symbol, or any other feature that identifies one seller's goods or services as distinct from those of other sellers? Select one: a. Attribute b. Advertising slogan c. Patent d. Brand e. Copyright

A(n) ______________ is an organization created to provide a public or mutual benefit other than the pursuit or accumulation of profits for investors. Select one: a. Informal organization b. Service provider c. Not-so-smart d. Not-for-profit e. Small business

A(n) ______________ targeting strategy uses a mass market approach to reach as many people as possible with the same marketing mix. Select one: a. Pretentious b. Focus c. One-to-one d. Undifferentiated e. Multisegment

Annabelle is in a hurry. She is on her way home from school and has to prepare for a job interview the next day. In addition, she has a term paper due in her "Philosophy of Pure Reasoning" class that is due the next day. When she is almost home, her roommate calls her on her cell phone and asks her to pick up some laundry detergent - it doesn't matter what kind - on her way home. Based on what you learned about the consumer buying process, which strategy is Annabelle likely to use in identifying alternative laundry detergents? Select one: a. External strategy because she will have to rely on point of purchase advertising to help her identify alternatives. b. Internal or memory based strategies because it usually produces the best results. c. External strategy because her mind is too busy with other problems to worry about how many different kinds of laundry detergent there are. d. Internal or memory based strategies because it is the least effortful approach. e. External strategy because her roommate is a personal source of information.

Arwen wanted to open a donut shop where customers could design their own donuts and have them made to order at the time. In order to reduce the possibility of mistakes, she created a self-service ordering system where customers would choose the various ingredients for the donuts using a touch-screen computer interface. Then they would follow along the glass-enclosed production line and watch while her highly skilled workers cooked the donuts from scratch. By using a computer rather than a person to initiate the process, Arwen was using _____________ to make the best use of her highly trained donut makers? Select one: a. The Dolly Parton Solution b. Productization c. Mediation d. Automation e. Price rationing

Baking soda is an ingredient in cooking. It also has the property of absorbing odors. The Arm and hammer company found that many people were leaving an open box of baking soda in their refrigerator to absorb food odors. In order to take advantage of this opportunity, they developed a special package with many air vents specifically for use as a refrigerator deodorant. Arm and hammer used ______________ segmentation to develop this product? Select one: a. Psychographic. b. Business versus consumer c. Demographic d. Buying situation e. Geographic.

Because price can be considered a ___________ attribute, it can be used to position your offering relative to those of your competitors? Select one: a. tangible b. feature c. credence d. search e. experiential

Bruce is afraid he is gaining weight. He got on the scale this morning and he was 10 pounds heavier than he was last night. He got on the scale again after breakfast and he had lost 10 pounds. Just before leaving for school he got on the scale again and he was 5 pounds lighter than he was after breakfast. Clearly, there is a problem with the _________ of Bruce's weight measurements? Select one: a. Measurement b. Trend c. Validity d. Reliability e. Representativeness

Bruce is planning on selling sandwiches in class for $5 each. Food costs are $4 per sandwich. He will also need to buy an insulated cooler to store the sandwiches. This cooler costs $10. How many sandwiches will Bruce have to sell in order for this project to break even? Select one: a. 8 b. cannot be determined with this information c. 2 d. 10 e. 5

Bruce wanted to open a coffee shop. He knew his coffee was way better than anything Starbucks could do because he ran taste tests with people in the neighborhood. He found that people in his area preferred their coffee with just a hint of cinnamon in it. When he opened his first store across the street from a Starbucks store, he ran advertisements claiming "Bruce's Brew is the spice of life," and offered a coupon good for a free cinnamon grinder with purchase of Bruce's Best. Bruce is using a _______________ positioning strategy. Select one: a. Follow the leader b. Flanker c. Head to head d. Differentiation e. More is better

BruceCo is a company that makes products for the coffee industry. They subscribe to a clipping service that monitors newspapers in major cities around the world for articles related to the coffee industry. This is an example of _____________ in a marketing information system? Select one: a. Computer hardware and software b. Decision makers c. Acquired databases/internet d. Marketing intelligence e. Internal information

BruceCo is planning on selling backpacks for $100 each. The company can buy the backpacks for $30.00 and have them customized for $20.00 apiece. There is a one-time set up charge of $1,000 for customization. How many backpacks will BruceCo have to sell in order to break even? Select one: a. 34 b. 10 c. 72 d. 20 e. cannot be determined with this information

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50 each. The package costs fifty cents per cup. There is a one-time set up charge from the printer of $1,000. How many coffee cups will BruceCo have to sell in order to break even? Select one: a. 250 b. 84 c. cannot be determined with this information d. 100 e. 72

BruceCo is planning on selling coffee cups for $14 each. The company can buy the cups for $2.00 and have them printed for $1.50 each. The package costs fifty cents per cup. There is a one-time set up charge from the printer of $1,000. In order for the project to go forward, the company needs to show a $10,000 profit. How many cups of coffee will BruceCo have to sell in order for this project to be acceptable? Select one: a. 785 b. cannot be determined with this information c. 2750 d. 1100 e. 916

BruceCo makes novelty products such as whoopee cushions and plastic vomit. The company sells about $2 million dollars worth of product. The major customers for BruceCo products are small independent novelty shops that will typically order less than $200 worth of product at a time. Which of these marketing channels would be the best for BruceCo to adopt? Select one: a. Recruit junior high school students to demonstrate the product during lunch. b. Hire a manufacturer's representative to call on independent novelty shops and send the orders into the factory. c. Work with a broker to negotiate deals with each of the novelty shops who wish to carry BruceCo products. d. Work with a distributor who carries a variety of products sold in novelty shops. e. Set up a series of regional warehouses to keep inventory nearer to the customer.

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _________ transportation for this part of her business? Select one: a. Rail b. Air c. Water d. Pipeline e. Truck

Companies frequently develop new products by combining two different technologies to come up with a product that represents a dynamically continuous innovation. This is known as _____________? Select one: a. Construction. b. Feature creep c. Brainstorming d. Convergence e. Continuum

For prestige products - products that are consumed socially and confer status on their owners? Select one: a. An increase in price will increase unit sales and decrease average revenue. b. Demand increases when consumer income decreases c. Demand elasticity is inverted. d. Unit sales of the product can decrease if prices are lowered. e. Value can be increased by reducing price.

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with framed documents. Some of them were diplomas from the massage schools he had attended. Others were copies of testimonial letters from well known people. Still others were reprints of favorable news articles that had been published in newspapers and magazines. Frodo was using the ___________ approach to making his service seem 'real'? Select one: a. Word of mouth b. Physical representation c. Visualization d. Documentation e. Association

Frodo was a massage therapist. He was very good at dealing with lower back pain. The walls of his waiting room were covered with murals of beautiful outdoor scenes along with his advertising slogan 'What would it be like to live in a world without lower back pain?. There was soft, relaxing music playing in the background. He used these same themes in his print and radio advertisements. Frodo was using the ___________ approach to making his service seem "real"? Select one: a. Physical representation b. Documentation c. Word of mouth d. Visualization e. Association

Grocery stores frequently put items such as candy bars or chewing gum next to the check-out lines. The reason is that simply seeing the candy display may make a consumer hungry for a candy bar. This tactic tends to affect consumers at the ________ stage of the consumer buying process. Select one: a. Internal motivation b. Time-sensitive c. Postpurchase behavior d. Need recognition e. External motivation

Grocery stores frequently put new products in high visibility locations such as the end of an aisle or near the checkout lanes. This makes consumers who might be thinking about buying a similar product aware of the new product. This tactic affects consumers who are in the _________ stage of the consumer buying process? Select one: a. Decision. b. Information search. c. Need recognition. d. Identify alternatives. e. Internal or memory based search strategy.

In order to get an individual to adopt a new product the first thing you need to create is? Select one: a. Interest b. Desire c. Evaluation d. Awareness e. Confirmation

In the context of "big data," we would expect marketing analytics to include all of the following EXCEPT... Select one: a. In the context of "big data," we would expect marketing analytics to include all of these. b. Results to be available in real time. c. Multiple sources of data. d. Automatic implementation of recommendations. e. Data sets too large to be handled by traditional database programs.

In the three circles positioning framework presented in class, what does "the bar" represent? Select one: a. A place to go to overhear conversations about your competitors' products. b. Products you do not need to carry because there are planty of businesses who will provide them c. Opportunities to differentiate your product based on industry standards d. Areas where you need to be competitive, but will not give you a competitive advantage e. Areas that are more important to your customers than to your competitors' customers

Which of these theories explains how individuals decide to purchase new products? Select one: a. Diffusion of innovations b. Special relativity c. Consumer buying process d. New product adoption e. New product development

Intel corporation created the Intel Inside campaign to make consumers aware that an important component of any computer is the quality of the microprocessor (computer chip) that makes the machine work. They negotiated with computer manufacturers to include a sticker on the outside of the computer - regardless of the brand - showing that there was an Intel chip inside. This is a classic example of _____________? Select one: a. Joint venture branding b. Licensing. c. Thinking outside of the box. d. Co-branding e. Cannibalization

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the total revenue for BruceCo? Select one: a. $4,700 b. $10 c. $5.30 d. $10,000 e. $5,300

Many students are confused by the structure of this class. You have the option of viewing the lectures any time, but viewing the lectures is not required. You may take the tests whenever you want during a two-week window. A common mistake is to assume that because the class is convenient, it must be __________ and you can take __________. This is not usually true. Select one: a. Optional, or leave it b. Funny, pictures c. Required, it over again d. Easy, shortcuts e. Profound, pride in your learning

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Jump Start Your Fat, Lazy, Puppy" and asked your opinion. You said? Select one: a. It is a good brand name because it is true. b. It is not a good brand name because it doesn't suggest a product benefit. c. It is a good brand name because it is catchy and has lots of words. d. It is not a good brand name because it is too long. e. It is not a good brand name because it is easy to pronounce.

Most of the functions that need to happen in order to move a product from producer to consumer deal with? Select one: a. Money b. All of the above c. Transportation d. Information e. Products

OK, so you have successfully divided the potential market into three target market segments. What do you do next? Select one: a. Congratulate yourself on a job well done and ask your boss for a raise. b. Develop a low cost strategy for each market. c. Subdivide each segment into usable market niches d. Create specific product/market offerings to satisfy unmet needs in each segment e. Identify ways that potential customers in each segment are similar to each other with respect to your product.

One critical issue to consider when developing a marketing channel that may not be covered in marketing textbooks is...? Select one: a. Whether or not to outsource channel flows b. The nature of the product being distributed c. How many intermediaries to include in the channel d. The need to prove your product is a good fit for your channel partners e. Whether or not to accept credit cards

One of the challenges we face in managing services is that both the customer and the service provider work together to create the service. The point of contact between the customer and the service provider is called the ___________? Select one: a. Service Zone b. Moment of truth c. Introduction d. Service encounter e. Commercial interface

One of the dimensions customers use to evaluate service quality is _____________, or caring, individualized attention to customers? Select one: a. Responsiveness b. Assurance c. Reliability d. Empathy e. Price

One of the issues in order processing is ________ which recognizes that customer orders cannot always be filled immediately? Select one: a. Communication b. Flexible manufacturing c. Variability d. Lead time e. Dependability

One of the main DISADVANTAGES of interactive data collection is? Select one: a. You have the ability to restate the question if the participant doesnt understand it. b. You are unable to follow up with specific questions c. It is much less expensive than other data collection techniques. d. Different interviewers may be inconsistent in how they ask the questions. e. Response rates tend to be very low.

One of the major issues in designing computer systems to support a marketing information system discussed in class is? Select one: a. Acquiring licenses for syndicated market research reports. b. How many data silos will be needed to support the functional areas in the company. c. Which environments will be covered in the environmental scan. d. Who has permission to enter and/or edit information in the database. e. Whether to rely on free information from the internet or to purchase proprietary information.

One of the questions you need to ask when identifying the data needed for a research project is? Select one: a. Should we conduct an experiment, or a quasi-experiment? b. Who will be responsible for collecting the data? c. All of these are questions that should be asked whin identifying the data needed for a research project. d. Is the information worth what it will cost us to obtain it? e. Which segments will we use for a probability sample?

One of the strategies during the decline stage of the product life cycle is to stop spending money on advertising continue to sell the product as long as customers are willing to buy it. This strategy is called? Select one: a. Divesting the product. b. Shaking the product. c. Skimming the product. d. Milking the product. e. Repositioning the product.

One of the ways intermediaries create value is to? Select one: a. Invest in trucks that are much more expensive than other companies in the channel can afford. b. Increase the amount of money customers are willing to pay for a good or service. c. These are all ways that intermediaries create value. d. Decrease the number of transactions needed to create an efficient market. e. Provide a buffer between consumer and producer so individuals don't feel like they are dealing with a large corporation.

Price elasticity is the slope of the demand curve. When price elasticity is LOW? Select one: a. A small change in price will have no effect on quantity demanded b. A small change in price will lead to a large change in quantity demanded. c. Demand will decrease at all price levels d. A large change in price will lead to a small change in quantity demanded e. Demand will increase at all price levels

Roxanne has completed her positioning analysis and has decided that she needs to reposition her product to a more attractive segment. In order to do this she needs to consider? Select one: a. What are her competitors likely to do when they notice she is changing her strategy b. Whether the organization can support the new product position c. Does she have the money to make the change d. She needs to consider all of these things. e. What changes she will need to make to the product

Sabrina was running a day care center for pre-school children. She decorated the walls with images from the motion picture "Finding Nemo." One day she received a letter from attorneys representing Pixar and the Disney Corporation asking her to stop using images from "Finding Nemo." Pixar and the Disney Corporation were defending their brand against _______________? Select one: a. Brand dilution b. Fingerprints c. Abuse d. Infringement e. Imitation

Sandra is running an online bookstore. Her market research shows her that many people visit the site, look at several books, add one or more books to the shopping cart but never actually purchase anything. Based on what she learned about the consumer buying process, Sandra decided to offer free delivery. She felt that this would make it easier for the customer in the ___________ stage of the consumer buying process. Select one: a. Impulse purchase stage. b. Evaluate alternatves stage. c. First stage. d. Decision stage e. Need recognition stage

The product life cycle consists of two curves which show the expected _________ and ________ of a product over time. Select one: a. profits, losses. b. Units, dollars c. Sales, market share. d. Sales, profits. e. Sales, revenue.

Sometimes it is not feasible to conduct causal research because meeting all of the conditions (for example a probability sample when you aren't sure how many people are in the population). In these cases researchers may conduct ____________ research which is almost as good.? Select one: a. Stratified random sample b. Bogus c. Ethnograpy d. Quasi-experimental e. Psuedo

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means? Select one: a. The law of supply and demand does not apply to a subculture. b. They will only buy goods and services from members of their subculture. c. Everyone who is a member of a subculture will want similar products. d. They are more likely to seek out products that affirm their membership in the subculture e. They are more likely to have money to spend on luxury products.

The __________ to setting prices is based on understanding an organization's cost structure and profit requirements? Select one: a. Statistical approach b. Quantitative approach. c. Demand-based approach d. Cost-based approach e. Competition-based approach

The ____________ channel flow deals with the movement of the actual product from producer to consumer? Select one: a. Ownership b. Promotion c. Ordering d. Physical possession e. Payment

The basic issue when you are dealing with the __________ characteristic of services is that the time or capacity to provide services is limited and fixed? Select one: a. Intangibility b. Variability c. Insufferability d. Perishability e. Invisibility

The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs? Select one: a. Component branding b. Empathy c. Positioning d. Internal marketing e. Internal rate of return

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a benefit of holding inventory? Select one: a. Serve as a hedge against inflation for price-sensitive goods. b. Serve as a buffer against supply interruptions c. Make it possible to save money buy buying in volume. d. To create possession utility for producers e. To create time utility for customers

The first stage of the consumer buying process is: Select one: a. Where the consumer finds the resources to be able to make a purchase. b. Where a consumer weighs the pros and cons of different products. c. Where a consumer looks for different ways to solve a problem. d. Where a consumer realizes that there is something he or she lacks. e. Where a consumer regrets having made the purchase after it is over with.

The first step in using the levels of the product concept is to: Select one: a. Develop a market-product grid to determine which segments to target with this product b. Decide which of the four "p's" will be the primary focus of this product c. Develop an advertising campaign that will reach the largest number of market segments. d. Determine what is the core benefit the consumer will receive from the product. e. Decide on the packaging that will be used with the product.

The four 'P's are? Select one: a. Bashful, Doc, Dopey, Grumpy, Happy, Sleepy, Sneezy. b. Product, people, positioning, profits. c. Product, positioning, promotion and packaging. d. Product, price, place, and promotion e. Product, potential, peripherals and purchase.

The goal at the ______________ stage of the product life cycle is to maximize profit without investing a lot of resources in the product. Select one: a. Introductory b. Maturity c. Rebirth d. Decline e. Growth

The group of people in an organization who become involved in the purchase decision are a(the) _________? Select one: a. Component parts. b. Professional buyer c. Customer council d. Buying center e. Decision makers

The law of demand (which is the basis of the demand curve) says? Select one: a. If prices decrease, customers will spend less b. If prices increase, customers will buy more c. If prices increase, customers will buy elsewhere d. If prices increase, customers will buy less e. If prices increase, customers will spend less

The supply chain centers on the producer. Downstream activities consist of? Select one: a. Actions that will allow the company to exit from an unattractive market. b. Quality control and service monitoring after production begins c. The flow of raw materials from the supplier to the producer d. The flow of finished product from the producer to the end user e. The channel flows that deal with the physical product.

Tracy is thinking of marketing a new energy drink. Her key selling proposition will be that her product tastes just as good at room temperature as it does when it is ice cold. She plans on testing whether or not students will like her new energy drink by showing pictures of her drink and the other leading brands to students outside the student union. If the majority of students prefer the picture of her product, she will go ahead with the product launch. Tracy may have a problem with the ___________ of her measurement in this market research project. Select one: a. Reliability b. Generalizability c. Information d. Validity e. Generalizability

Wal-Mart's basic strategy is to provide products to customers at rock bottom prices. Thus their slogan, "Always Low Prices." In order to achieve this strategy, Wal-Mart's Supply chain is designed to maximize ___________? Select one: a. Variety b. Upstream activities c. Responsiveness d. Efficiency. e. Downstream activities.

Warranties can be either expressed or implied. An expressed warranty means that? Select one: a. You can resolve a claim very quickly if your product has six defects or less. b. A company will not be responsible for a product deficiency unless you complain in writing. c. A company may be responsible for a product defect whether there is anything in writing or not. d. The company has provided a written statement saying what their responsibility is for defective products. e. A company will not be responsible for a product deficiency unless you complain in person.

What do we mean when speak of an organization's stakeholders? Select one: a. Individuals or organizations who have expressed interest in buying a particular company's stock when it is undervalued in the marketplace. b. Any individual or organization that makes money when a particular company introduces a successful new product. c. Individuals or organizations who are not currently customers of a company. d. Any individual or organization that is affected by a company's marketing activity. e. Individuals or organizations who monitor blogs (web logs) about new products for an industry.

What do we mean when we say demand for industrial goods is derived? Select one: a. Transportation issues make a significant difference in a company's ability to use industrial goods in its products. b. Many business customers use contracts to establish purchase quantities. c. Business customers consider other things than simply price when deciding to purchase an industrial good. d. Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components. e. A product can be considered to be either a consumer product or an industrial product depending on how it is used.

What do we mean when we say that, from the consumer perspective, new products span a continuum from small, incremental changes to radically different products? Select one: a. We mean all of these things when we speak of the new product continuum. b. That consumers may be unaware of the difference between incremental changes and radically different products unless the manufacturer communicates the difference to them. c. That whether or not a product is new depends on how the manufacturer chooses to position it on the continuum. d. That 'newness' is hard to define and new could mean different things for different products. e. That new products start out as incremental changes to existing products and go through refinements until they become radically different products.

What do we mean when we speak of a "defensible" decision? Select one: a. There is a written record of the decision and who is responsible for it. b. These are all what we mean when we speak of "defensible" decisions. c. A decision that ends up being a "good" decision d. It was the best alternative given the information available at the time. e. A decision taken in response to a competitor's action.

What is the market for a specific product? Select one: a. All of the people with the ability to purchase a product. b. All of the people who live in the geographic area served by the product's manufacturer. c. A physical space for conducting transactions. d. All of the potential customers for the product. e. All of these.

What is the point you instructor was trying to make when discussing the law of "truly large" numbers Select one: a. That in order to be successful, your product needs to appeal to everybody. b. No matter how large the group, people are individuals. c. That no two people are exactly alike. d. That if you have a large enough group of people there will probably be subgroups who are similar to each other at least in the way they perceive your product. e. That it is easier to become wealthy by making a small amount of profit on a large number of transactions than by making a large amount of money on a small number of transactions.

When I order a book from Amazon.com, an online marketplace, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of ____________ to smooth the flow of goods and services through the channel of distribution? Select one: a. Intermediation. b. Warehousing c. Permission d. Information e. Payment

When _____________ is low, customers are likely to abandon your product if you raise prices? Select one: a. Perceived cost b. Variable cost c. Morale d. Switching cost e. Inflationary pressure

When dealing with tangible products, consistency is usually measured in terms of? Select one: a. Systems b. Features c. Cost/benefit analysis. d. Defects/Conformance e. Attributes.

When goods and services are exchanged for other goods and services, rather than for money, it is referred to as __________? Select one: a. Trade b. B2B c. Non-revenue d. Barter e. Off-book.

When it comes to carrying inventory in the fashion industry, which approach tends to be the most profitable. Select one: a. Carry a small inventory to make sure there is no excess inventory after the fashion is out of vogue. The fact that some customers, who desire to buy the product, will not be able to do so will only add to the perception that the fashion is hot. b. Wait until the fashion season is over and purchase your inventory at a discount c. To keep unsold merchandise in your warehouse until the next season and re-introduce it as part of next year's line d. Carry just enough inventory to meet anticipated demand. This will allow you to capitalize on the demand that has been created for the product without the expense of getting rid of excess inventory at a discount. That may hurt the brand's image. e. Carry a lot of inventory to be sure that everyone who desires the product can get it while it is still in fashion, even though there will be excess inventory when the fashion is no longer in vogue.

When it comes to services, quality is measured in terms of? Select one: a. Strength of the relationship. b. Number of complaints c. Conformance to specifications. d. Meeting or exceeding the customer's expectations. e. Repeat business

When would you be willing to spend money to develop new information to support a decision? Select one: a. When the information you develop is better than guessing. b. When the expected value of the decision increases with better information. c. When there is a high level of uncertainty about alternative outcomes. d. All of these are reasons to spend money to develop new information to support a decision. e. When there is a lot at risk in making the decision.

When you are dealing with the ___________ characteristic of a service, one approach to marketing services is to make the service seem 'real' ? Select one: a. Derogatory b. Perishability c. Variability d. Intangibility e. Inseparability

Which of the following is NOT a cost typically associated with logistics? Select one: a. Order processing b. Stockout. c. Transportation d. Advertising e. Inventory

Which of the following is NOT a reason a company might want to have more than one marketing channel? Select one: a. To provide local service to customers in different areas of the country. b. To avoid becoming dependent on a single middleperson c. Because you sell the same product to two completely different customer groups d. In order to earn back money that otherwise would have been earned by your retail network. e. To serve customers in different industries.

Which of the following is NOT a requirement for causal research? Select one: a. Control group b. Probability sample c. Theoretical framework d. Focus group e. Independent variable

Which of the following is a condition that must be met before you can consider a group of people to be a market segment? Select one: a. They must be the same as each other. b. They must be wealthy. c. They must be geographically close to each other. d. There must be a way to communicate with them. e. They must appreciate your product for different reasons.

Which of the following research techniques is most likely to be used in descriptive research? Select one: a. Focus group b. Ethnography c. One-on-one depth interviews d. Survey questionnaire e. Observation study

Which of the following statements about Maslow's Hierarchy of Needs is TRUE? Select one: a. Risk takers are motivated by ego needs rather than by safety needs. b. Most people are more concerned about their self image than whether or not they have enough to eat. c. Ego-centric people are more concerned about their self image than whether they have enough to eat. d. Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators. e. All of these statements about Maslow's Hierarchy of needs are true.

Which of the following statements about a consumer is FALSE? Select one: a. A consumer receives a personal benefit from the product b. A consumer purchases things for personal consumption c. A consumer is a person with unmet needs d. Consumers have similar tastes e. All of these statements about consumers are true

Which of the following statements about a decision support system is FALSE? Select one: a. The person using the decision support system needs to be able import information into the software used to make the decision. b. The information needs to be in the network in order for decision makers to use it. c. There is always a time constraint when making business decisions. d. It is better to wait until after you know what decision you have to support to begin developing the information to support it. e. The broader the scope of information available in a decision support system, the better.

Which of the following statements about the consumer buying process is TRUE? Select one: a. The final stage of the process is when the consumer makes up his/her mind to buy the product. b. There is a separate process consumers use to solve non-product related problems. c. The first stage of the process is when the consumer makes up his/her mind to buy the product. d. The customer decides whether he/she is truly satisfied with the product after the decision has been made. e. Once a need has been identified, the consumer will purchase a product to satisfy it.

Which of the following statements best describes the consumer buying process discussed in class? Select one: a. People can save time by using the consumer buying process instead of making a decision about a product. b. Human beings find the consumer buying process too complicated to use for anything but purchases of goods and services. c. The consumer buying process is what allows human beings to make rational decisions even if they haven't studied economics. d. A consumer trying to satisfy a need through a purchase is actually solving a personal problem. e. People use different approaches to making decisions about goods and services than they do in other areas of their lives.

Which of these is NOT a key to success for a company adopting a market orientation? Select one: a. An organization-wide focus on the customer. b. Identifying and targeting specific market segments. c. These are all keys to success for a company adopting a market orientation. d. Insuring every customer transaction is profitable for both the customer and for the company. e. Creating long-term customer value.

Which of these is NOT a tool used in materials handling? Select one: a. RFID (radio frequency identification) b. Bar code scanners c. Forklifts d. Safety stock e. Conveyor belts

Which of these is NOT a tool you can use to communicate the brand experience? Select one: a. Message strategy b. Advertising c. Brand name d. All of these are tools you can use to communicate the brand experience. e. Positioning

Which of these is a major constraint to consider when developing a research plan? Select one: a. The salaries paid to in-house market researchers. b. The shelf-life of the market opportunity addressed by the research. c. Fees paid to an outside market research firm. d. All of these are constraints to be considered when developing a research plan. e. The time managers spend discussing the project with researchers.

Why is demand inelastic for many industrial goods? a. Because large changes in price result in small changes in the quantity demanded. b. Because when component prices are lower, manufacturers will use more component parts in their products. c. Because buying agents for business products are trained negotiators which limits the impact of price increases on demand. d. Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product. e. Because industrial products are less fashion-oriented so demand doesn't change when fashion trends change.

Why is it so important to take complaints about service so seriously? Select one: a. Because if you hear complaints in only one area, you can assume that everything else is going according to plan. b. Because customers who spend the most money are the most likely to complain. c. Because it will tell you which products you need to discontinue. d. Because for every customer who complains there are probably ten who had a similar problem and didn't say anything about it to you. e. Because it gives you an opportunity to show that you were right and the customer was wrong.

Wilma is developing a website where people can buy or sell gently used baby clothes. Wilma will certainly include include ___________ as a segmentation variable. Select one: a. Buying behavior b. Psychographics c. Geographic region d. Family life cycle e. Price sensitivity

____________ attempts to identify new business opportunities by analyzing data from past transactions? Select one: a. Routine reporting b. Quarterly reporting c. Environmental scanning d. Data mining e. Exception reporting

_____________ are business customers who purchase goods to incorporate them into other products for other businesses to use. a. Governments b. Facilitators c. Resellers d. Industrial Markets e. Institutions

_______________ is used in situations where the final cost of a good or service may not be available at the time the agreement is reached? Select one: a. Price ceiling pricing b. Standard markup pricing c. Flexible pricing. d. Cost plus pricing e. Price floor pricing

_______________ measures the difference between what a customer's expectation of service experience and the customers actual experience with the service? Select one: a. Service shortfall b. Credence qualities c. Recovery strategy d. Gap analysis e. The critical incident technique

A feature is...? Select one: a. a determinant of value b. the reason a customer would buy your product c. something that is determined by the customer d. a major motion picture e. an attribute of a product or offering

Unlike a product advertisement, an institutional advertisement may have _______ as an objective?

Damage control

Unlike a product advertisement, an institutional advertisement may have __________ as an objective?

Damage control

The three levels of conversion for an e-mail campaign are...?

Did they receive it, did they open it, did they respond to it.

A marketer interested in selling luxury goods would naturally pay close attention to changes in the amount of?

Discretionary income

_____________, is the amount of money a consumer has left after paying for necessities such as food and housing?

Discretionary income

A ____________ is a bundle of tangible and intangible attributes that provide value to customers in exchange for money (or something else of value). Select one: a. Segment b. Featurette c. Feature d. Market e. Product

A ____________ is a product that consists of primarily intangible attributes? Select one: a. Role play b. Fiction c. Pseudo-product d. Transaction e. Service

A ______________ or _______________ is usually the property of the retailer that distributes and/or sells a product? Select one: a. Manufacturer's Brand, producer brand b. Trade name, trademark c. Brand name, service mark. d. Generic brand, no-name brand e. Distributor's brand, Private-label brand

A ______________ or _______________ tries to create the perception of value by eliminating the advertising expense associated with many consumer products? Select one: a. Distributor's brand, private-label brand b. Brand name, service mark. c. Trade name, trademark d. Manufacturer's brand, producer's brand e. Generic brand, no-name brand

A ________________ is all of the organizations and activities associated with moving the product from producer to end user? Select one: a. Cartel b. Market segment c. Sales organization d. Business e. Marketing Channel

A brand can be thought of as a promise you make to your customers. In order for the brand to be successful, the promise must be _____________? Select one: a. Legally binding b. Implied c. Changed as circumstances change. d. Printed on the package or in the instructions e. Perceived as valuable to your customers.

A storage warehouse creates value by? Select one: a. Act as a transshipment point as products move from manufacturer to retailer. b. Creating possession utility for producers c. A storage warehouse does all of these things. d. Providing a place for last minute assembly. e. Holding inventory closer to where customers are likely to use it.

A successful brand adds value to a product because...? Select one: a. of increased customer loyalty. b. it is a barrier to entry for competitive products. c. it increases the value of a company's common stock. d. customers are willing to pay a premium price for the product. e. These are all expressions of the value of brand equity.

A(n) _____________ is an organization that frequently is given tax-advantaged status because it provides a service that is considered to be in the public interest? Select one: a. Intangible organization b. Accounting firm c. Vendor d. Oligopoly e. Non-government organization

A(n) ______________ is an organization whose business purpose has been designated as being in the public interest and may have received preferential tax status? Select one: a. Not-for-nothing b. Interest group c. Quasi-governmental agency d. Fundraiser e. Not-for-profit

According to Michael Porter's theory discussed in class, which is best strategy to use when you are not the low cost producer in an industry? Select one: a. Go after the mass market. b. Reduce your marketing expenditures to compensate for your increased costs. c. Create economies of scale through advertising. d. Become the second lowest cost producer. e. Differentiate your product.

Bruce has always wanted to own a Ferrari automobile. For him it will always be a dream because he will never be able to afford to buy one unless gets a better job and saves his money for several years. Is Bruce part of the potential market for Ferrari automobiles? Select one: a. Yes, because he believes the Ferrari is a great luxury car even though he feels luxury cars are a waste of money. b. No because if he really perceived benefit of owning a Ferrari, he would find the money to buy it. c. No because he does not have the authority to buy a Ferrari. d. Yes because he sees the benefit of owning a Ferrari. e. No because he does not have the money to buy a Ferrari.

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________? Select one: a. Buyer b. Decider c. Initiator d. Gatekeeper e. Influencer

Bruce is trying to sell his new "Bruce's Blend" of coffee to Starbucks. He met with the buyer and the buyer arranged for Bruce to serve a sample of his new blend to a group of 'tasters' who will taste the coffee and tell the buyer whether or not they think it is any good. These tasters are performing the role of ___________? Select one: a. Initiator b. Buyer c. Decider d. Gatekeeper e. Influencer

Bruce is very frustrated. He trying to make copies of a handout for his 9:30 principles of marketing class and the copier is jammed. The copier is always jammed. He has complained to the purchasing agent several times, asking them to get a copier that works. Bruce is performing the buying center role of _________? Select one: a. Decider b. Influencer c. Buyer d. Gatekeeper e. User

Bruce recently went to the eye doctor because he couldn't see clearly enough to do the sudoko puzzle on his iPad. He could see well enough to drive, just not well enough to do the puzzle. His eye doctor said he had presbyopia, a condition that is common in people who are middle aged. The doctor said that Bruce could continue to do the crossword puzzle, but he would need to wear reading glasses. Clearly, a manufacturer of reading glasses would benefit from using a ______________ segmentation approach. Select one: a. Geographic. b. Statistical c. Psychographic. d. Buying situation e. Demographic

Bruce was writing test questions for his marketing class. It was getting very late in the afternoon and he was tired. So he went over to the student union for a bowl of ice cream. All they had was Dreyers Ice Cream and Bruce was really in the mood for Haagen Daz. So he walked over to Stonestown mall in order to get a bowl of Haagen Daz Ice Cream even though he really didn't have the time. In terms of product classification, Haagen Daz ice cream could best be described as a(n) for Bruce? Select one: a. Sought product. b. Shopping product c. Unsought product d. Convenience product e. Specialty product

Bruce went into an appliance store to purchase a 32" HD tv for $249 as advertised online. When he got to the store, he was told that all of the $249 tv's had been sold, but there was a 32" HD tv available for $299 that he could purchase today. Bruce may have been a victim of? Select one: a. advertised pricing b. Reference pricing c. Price discrimination d. Price fixing e. Bait and switch pricing

BruceCo sells medical devices used in surgical operations. It requires a great deal of training to be able to use these medical devices properly and there is a potential liability to BruceCo if they are used improperly. Because each product has to be numbered and monitored for quality and sanitation, the products must be handled carefully and are expensive. Which of these market coverage strategies would be best for BruceCo? Select one: a. Selective distribution b. Intensive distribution c. Invasive distribution d. Excessive distribution e. Exclusive distribution

By definition, _____________ is 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? Select one: a. Selling b. Exchange c. Management d. Advertising e. Marketing

Chun has developed a line of insect repellent with no bad chemicals in it. She used psychographic segmentation to define her primary segment as environmental activists. Which of the following is the WORST way that Chun could communicate with this segment? Select one: a. Advertise in the Sierra club magazine, a magazine sent to all members of the environmentally conscious sierra club. b. Sponsor a television program on the earth-friendly cable network. c. Sponsor a tree planting event in the Everglades Swamp in Florida. d. Create a website for her insect repellent and exchange links with environmental websites. e. Sponsor a fishing tournament where the first prize is a sport utility vehicle

Colgate Palmolive developed a new line of Colgate brand mouthwash. As part of the introduction, they included a free sample of Colgate mouthwash with every tube of Colgate toothpaste. This is an example of? Select one: a. Captive pricing b. Multiple pricing c. Target profit pricing. d. Anti-cavity pricing. e. Price bundling

Consumers might put significant effort into purchasing a _____________? Select one: a. Unobtainable product b. Unsought product c. Specialty product d. Convenience product e. Shopping product

Desiree knows that she does not have very much money. Yet she dreams of being rich and famous like one of those Hollywood stars you see on television all the time. Her one luxury is to buy fashionable designer dresses just like those worn on her favorite television shows. Desiree's desire to be seen as a high-fashion person is motivated by her ____________? a. Need for safety. b. External motivation. c. Actual self-concept. d. Value consciousness. e. Ideal self-concept

Each of the individual ____________ in a product line are frequently assigned a unique SKU number. Select one: a. Categories b. Customer segments c. Price ranges d. Attributes e. Product items

Even if you have never seen a product before, you may have a sense of what it should sell for based on similar products that you have experienced in the past. Marketers need to be aware of this ___________ when they set prices for new products? Select one: a. Value indicator b. Skimming price c. Penetration price d. Premium price e. Expected price

For many products such as candy bars, there is a price consumers expect to pay for the product. Retailers using the _____________ to setting prices will offer the product at a very low price in order to attract customers into their store? Select one: a. Price leadership approach b. Above or below approach c. Price line approach d. Customary pricing approach e. loss-leader approach

Hermione was the office manager for a small business in the city. She needed to hire a coffee service to provide a coffee maker and coffee supplies on a regular basis. She went online and searched for several coffee services. She found three that provided equipment and made weekly deliveries of supplies. She chose the supplier that advertised the lowest price. Hermione used ___________ to evaluate the quality of this service? Select one: a. Credence attributes b. Credence Clearwater Revival c. Intangibles d. Experiential attributes e. Search attributes

In a(n) _____________ situation, multiple suppliers are invited to submit proposals for a contract to supply a good or service to a business customer? Select one: a. Reciprocal selling. b. Open outcry auction. c. Modified re-buy. d. Environmental scanning. e. Competitive bidding.

In automating a manufacturing plant, which of these would definitely increase in the short run? Select one: a. All of these would increase b. Total revenue c. Variable cost d. Price e. Fixed cost

In automated marketing, a prospect's ___________ is continually updated based on interactions with the company?

Lead score

In marketing channels where there are both large players and small players, a(n) ___________, usually the largest member of the channel will assume responsibility for coordinating activities in the channel? Select one: a. Intermediary b. Vertical marketing system c. System administrator d. Opinion leader. e. Channel captain

In order for a firm to have an increase in market share as a pricing objective, it is assumed that the firm has? Select one: a. value. b. no competition c. social responsibility d. leading market share e. profits

In the three circles positioning framework presented in class, which area represents the area for creating an attractive new position in the marketplace? Select one: a. Their unique position b. All of these are areas for creating an attractive new position in the marketplace. c. Your unique position d. The "bar" e. Opportunity to strengthen position

Jill has been sitting through Professor Robertson's class for almost an hour now. She didn't have time for breakfast because... well just because. It is now almost eleven o'clock and she realizes that she is very hungry. This is an example of _________ need recognition? Select one: a. Consumer b. Social c. Impulse d. External. e. Internal

Kendra runs a wholesale distribution center for candy. Each week she receives candy from all of the major manufacturers. She stamps a date sticker on each package so the retailers will know how fresh the candy is. She also provides information on how much cocoa is in the chocolate from the various manufacturers. Kendra is adding value by ___________? Select one: a. Creating assortment b. Transporting c. Storing d. Breaking bulk e. Grading.

Last year, BruceCo sold 1000 coffee cups for $10 each. If the cost for each cup was $4.70, what was the average revenue for BruceCo? Select one: a. $4,700 b. $5,300 c. $5.30 d. $10,000 e. $10

Last year, BruceCo sold 1000 coffee cups for $10 each. This year, the company is planning on selling 1500 coffee cups. In order to cover the additional investment they will charge $10.50 for the first 500 cups, $10.25 for the second 500 cups and $10 for the last 500. Each cup costs $4.70 to produce. What is the marginal revenue for the 1125th cup? Select one: a. $10.50 b. $5.30 c. $1,250 d. $10.25 e. $10.00

Many airlines advertise low prices on the internet. When you actually book the ticket, you may find that there are destination charges, service, fees and other costs that significantly increase the cost of the ticket. The airlines use this _________ tactic to make their prices appear to be lower to customers who are comparing prices. Select one: a. Discount price b. Flexible price c. Single price d. Captive price e. Multiple price

Many consumer products include a toll-free number on the package that you can call if you experience any problems with the product. In addition to assuring customers during the decision stage, this customer service number helps consumers during the ________ stage of the consumer buying process? Select one: a. Involvement b. Problem recognition c. Information search d. Purchase e. Post purchase behavior

Many large retail stores use ____________ because it would be impractical to calculate the correct price for thousands of items individually? Select one: a. Price floor pricing b. Cost plus pricing c. Flexible pricing. d. price ceiling pricing e. Standard markup pricing

Many national magazines such as Time or Business Week contain advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________? Select one: a. Business versus consumer b. Psychographics c. Lifestyle d. Demographic e. Geograpy

Many small businesses choose to segment their customers geographically because they can effectively to communicate with their customers using __________? Select one: a. Trade publications b. Cultural differences. c. NAICS codes. d. Shelter magazines. e. Local media

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said? Select one: a. It is a good brand name because it suggests a product benefit. b. It is a good brand name because it is simple and easy to pronounce. c. It is not a good brand name because it isn't clear that it is about dog food. d. It is a good brand name because it is memorable. e. You said all of these things, and meant them.

My friend who works at a major airline told me that they change their fares once every 3 minutes, on average. They are always monitoring how many seats are sold and how many are available (load factor) and how many days until the flight is scheduled. Customers sometimes feel that they are being treated unfairly because no two people on the same flight have paid the same price for their tickets. The airline does this because ____________ are so high that they need to maximize the amount of revenue they can get from every seat. Select one: a. Disintermediation b. Capacity c. Altitudes d. Reservations e. Fixed costs

One of the ways business buyers can be proactive in identifying alternatives is...? Select one: a. All of these are ways business buyers can be proactive. b. To enter into long-term supply contracts with reliable vendors to minimize purchasing costs. c. To search the internet to discover potential vendors that may have been overlooked. d. To contract with freight auditing firms to make sure transportation costs are appropriate for the quantity purchased e. To put out a RFP (request for proposals) inviting suppliers to design an offering specific to the firm's needs.

One of the ways personality is useful to marketers is to use ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person; as segmentation variables. Select one: a. benefits b. Motivations c. Features d. National characters e. Personality traits

One of the ways that attitudes about a product change over time is through ________________ or experiences with the product after it has been purchased. Select one: a. Word of mouth b. College learning c. Conceptual learning d. Observation e. Experiential learning

Perla is trying to decide which of two big screen television sets she should purchase. One is more expensive than the other, but it has better resolution. Sound quality is the same on both television sets. They both come with remote controls, but Perla rarely uses a remote control so it is not a factor in her decision. Perla is using __________ to make the decision? Select one: a. Sound quality. b. Consideration set c. Single criteria d. Price e. Multiple criteria

Psychographics, the practice of combining psychology, lifestyle and demographic information to segments markets can provide useful insight about consumer motivations and buying patterns. One of the weaknesses of using this approach for market segmentation is that it is difficult to ___________ psychographic segments. Select one: a. Spell b. Define c. Reach d. Find useful differences between e. Measure

Reference groups are important to Marketers because... Select one: a. They are realtively stable over time b. They are an important market segment c. Aspriational groups tend to have more disposable income d. Reference groups are important to marketers for all of these reasons. e. They serve as information sources and influence opinions

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to? Select one: a. She is trying to do all of these things. b. Make people believe that the market leader is selling an unhealthy drink c. Reduce her production costs d. Reposition her product against the competition e. Reposition her product against itself

Sameer does not smoke. Every day he walks past a billboard advertising Camel cigarettes. In class, the instructor was talking about how much cigarette advertising is around us and described the billboard advertising Camel cigarettes as an example. Sameer was surprised by this. He had walked by the billboard every day, yet he had never noticed that it was an advertisement for cigarettes. This is an example of _____________? Select one: a. Selective retention b. Selective memory c. Selective service d. Selective interpretation e. Selective attention

The decision to hold inventory is critical to providing customer service through the supply chain. There are both costs and benefits. Which of these is NOT a cost of holding inventory? Select one: a. Materials handling costs b. Inventory taxes c. The risk of damage or spoilage d. The need to purchase inventory insurance e. Increased number of stock outs

The first source people turn to for information when making a purchase is...? Select one: a. Blogs b. Trusted friends c. Commercial information provided by marketers d. Social media e. None of these are the first source people turn to for information when making a purchase.

The most attractive market segment for fast food restaraunts is heavy users (no pun intended). These customers visit fast food restaraunts 14 or more times per month on average. This is an example of _______________ segmentation in the fast food industry? Select one: a. Statistical b. Geographic. c. Psychographic. d. Demographic e. Buying situation

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically determine the relative importance of new product development to the overall goals of the organization? Select one: a. Commercialization b. Screening and evaluation c. Market Testing d. Technical development e. New-product strategy development f. Idea generation g. Business analysis

The supply chain centers on the producer. Upstream activities consist of? Select one: a. Gaining permits and licenses in order to be able to operate the business. b. The flow of finished product from the producer to the end user c. Market research and product concept testing before production begins d. The channel flows that deal with information. e. The flow of raw materials from the supplier to the producer

The supply chain centers on the producer. Upstream activities consist of? Select one: a. The channel flows that deal with information. b. Gaining permits and licenses in order to be able to operate the business. c. The flow of finished product from the producer to the end user d. Market research and product concept testing before production begins e. The flow of raw materials from the supplier to the producer

The threshold level of perception is...? Select one: a. The maximum level of difference in a stimulus that a person will notice b. The minimum amount of information a person can absorb c. The maximum amount of information a person can absorb d. The minimum time a person has to be exposed to a stimulus before it will be recorded in memory e. The minimum difference in a stimulus that a person will notice

The way to find out what the due dates are for the mini tests is to? Select one: a. Assume it is the same day each week. b. Ask someone who took the class last semester when the deadlines are. c. Ask your friend when the deadline is. d. Ask someone who has taken the class before. e. Look at the preliminary mini test schedule attached to the syllabus, and check the announcements regularly in case there are any changes to the schedule.

Time has an impact on purchase behavior both from a "ticking clock" perspective and from a ____________ perspective? Select one: a. Egg timer b. Punctuality c. Annual d. Terms of service e. Calendar

Unlike a storage warehouse, a distribution center is primarily for? Select one: a. Storage b. Vertical integration c. Climate control d. Reintermediation e. Transshipment of products

What do marketers mean when they speak of involvement as it relates to the consumer buying process? Select one: a. When a person chooses to shop in person for a product rather than shopping online or choosing from a catalog. b. The amount of time the person is likely to spend making the decision c. Once a person has begun the consumer buying process, that person is committed to making a purchase. d. The number of friends a person will ask for advice before making a purchase e. The financial, social and physical risk of the purchase to the person

What is a data silo as described in class? Select one: a. An agricultural products database. b. A computer program that compares databases within a business and identifies information that may be incorrect. c. A database designed to combine information from many functional areas and make it available to decision makers. d. A piece of computer hardware used to store the information left over after data mining is complete. e. A database designed to support one business function that is not integrated with other business functions.

What is a double-barreled question? Select one: a. A question that is repeated in the questionnaire to check for accuracy. b. A question that is designed to educate the participant rather than to solicit an answer. c. A question that can be used as an independent variable and as a dependent variable in causal research. d. An open-ended question. e. A questionnaire item that is unclear because it combines two questions.

What is a need? Select one: a. food and shelter b. unleaded gasoline c. a status product d. all of these are needs e. a perceived lack of something

What is the 80-20 rule? Select one: a. Relationships are more profitable than transactions b. All of these statements about the 80-20 rule are true c. 80% of your business should come from customer relationships d. 20% of you business should come from individual transactions e. In general, 80% of your business comes from 20% of your customers

What is the difference between a business customer and an individual consumer. Select one: a. Businesses tend to make smaller purchases than individual consumers do. b. Consumers go through a 5-stage buying process while business customers do not use a 5-stage buying process. c. Both businesses and individual consumers buy products to help run the organization. d. A business buys things to make other products while an individual consumer buys things in order to sell them to others. e. A business buys products in order to make money while an individual buys products for personal enjoyment.

What is the difference between data and information as discussed in class? Select one: a. Data is the singular, information is the plural. b. A datum is a fact based on hard evidence; information is a fact based on opinion. c. A datum is a fact; information is a collection of facts. d. Data are things that are true, information is things that are believed to be true. e. A datum is a fact; information is a fact that is used in making a decision.

What is the easiest way to become the category leader for a product category? Select one: a. Make your packaging look the same as the category leader to gain spillover benefits from the category leaders advertising. b. Spend more on advertising than the category leader. c. Identify the weakest attributes of the category leader and design a product that is better than the category leader d. Start at the back of the category and develop a plan to surpass each product in the category until you are the leader. e. Develop a brand new product that is different from anything else on the market.

What is the hard way to become the category leader? Select one: a. To close your eyes and wish really, really hard that you are the category leader; then open your eyes and see if you have become the category leader. b. To acquire the leading products in the category through merger and acquisition. c. Spend money on advertising to make consumers think your product is superior when, in fact, it is not. d. Find an attribute that nobody else is talking about and develop a market position featuring that unique attribute. Incorrect e. Use the marketing mix to improve your position in an existing category.

What would a reader expect to find in the executive summary of a research report? Select one: a. A recommendation based on the research b. The analysis methods used in the report. c. Any compromises the researchers needed to make in order to complete the study d. A description of the methods used to collect the data. e. A one-page summary of the project including major findings.

When I order a book from Amazon.com, an online marketplace, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of ____________ to smooth the flow of goods and services through the channel of distribution? Select one: a. Warehousing b. Intermediation. c. Payment d. Permission e. Information

_____________ include retail and wholesale businesses. Select one: a. Facilitators b. Institutions c. Industrial Markets d. Governments e. Resellers

When it comes to managing services, some people find it helpful to think of it as a service encounter with roles for both the service provider and for the customer. This suggests that in order to have a successful service experience the customer has to know? Select one: a. The difference between options standard features. b. How much the service will cost. c. What his or her rights are in case something goes wrong. d. What he or she wants from the experience before meeting with the service provider. e. What he or she is expected to do in order to create the service.

Which of the following IS a probability sample? Select one: a. Snowball sample b. Free sample c. Convenience sample d. Mall intercept sample e. Random sample

Which of the following assumptions about using ethnicity as a segmentation variable is correct? Select one: a. Stereotyping is a useful tool to use in making assumptions about consumption patterns of ethnic groups. b. It is easy to create products that meet the needs of different ethnic groups c. People within an ethnic group are generally similar to each other. d. Ethnic segmentation is not economically viable. e. Both race and culture play a role in consumption patterns.

Which of the following buying criteria is a business buyer likely to use and an individual consumer NOT likely to use? a. Price or financial cost of the transaction b. Financing c. Warranty and reputation of selling firm. d. Quality and availability e. The impact on the channel of distribution

Which of the following is NOT a characteristic of a product line? Select one: a. Satisfy a class of needs b. Used together c. Sold to the same customer group d. Have some uses in common. e. Tend to be the same from company to company

Which of the following is NOT a common application of marketing analytics programs? Select one: a. Predictive modeling b. Optimization c. Data mining d. Cluster analysis e. All of these are applications of marketing analytics programs.

Which of the following is NOT a requirement of a market segment? Select one: a. Similar to each other with respect to your product b. Different from everybody else with respect to your product c. Economically viable d. Reachable e. Environmentally responsible

Which of the following is NOT a social influence on the consumer buying process? Select one: a. Family b. Social Class c. Culture d. Reference Groups e. Personality

Which of the following is NOT a source of internal data used in a marketing information system? Select one: a. Ordering data b. customer service logs c. Sales data d. Tracking logs from the company website e. An information silo

Which of the following is NOT a way perceptual maps can help you with your positioning strategy? Select one: a. Identify areas where there unmet needs b. Identify changes that can be made to product attributes to improve your competitive position c. Understand where your products are positioned relative to competitive produtcts. d. Determine how crowded a market position might be. e. Determine which of two alternative products your customers will prefer.

Which of the following is NOT an example of a third-party provider of logistics? Select one: a. A freight forwarder b. An export/import firm c. A parcel delivery company d. A public warehouse. e. A design firm

Which of the following is NOT an example of an intermediary? Select one: a. Agent b. Broker c. Distributor d. Retailer e. Consumer

Which of the following is a condition necessary for exchange to occur? Select one: a. The ability to handle either cash or credit purchases. b. A defined market space. c. No more than two parties involved. d. Face to face meeting. e. Voluntary participation.

Which of the following is a form of price? Select one: a. A salesperson's commission b. Tuition for Marketing 431 c. An insurance premium d. The annual salary of professional athlete e. These are all forms of price

Which of the following is a good reason for raising your prices? Select one: a. The business is not making enough profit. b. Everybody else in the industry is raising their prices. c. Inflation has caused your costs to increase. d. A new and improved version of your product is introduced. e. All of these are good reasons for raising prices.

Which of the following is an example of a direct marketing channel? Select one: a. My brother in law Don who custom builds homes for customers on their property. b. The Dell Corporation which sells computers to consumers through its company owned website. c. My niece Polly who sells hand-made jewelry at tables she rents at craft shows and art fairs. d. The Avon Corporation which has company-paid salespeople sell cosmetics door to door e. These are all direct channels of distribution.

Which of the following is one of the three typical uses for information in a decision support system as described in class? Select one: a. To justify decisions that have already been made b. To create jobs for information technology professionals c. To persuade potential customers to try your product d. To manipulate data in order to make the financial reports look better. e. To support ad-hoc or one of a kind decisions.

Which of the following is tactics is most likely to encourage customers to pay your asking price for a product. Select one: a. A handwritten price tag with the price and the date that the tag was written on it. b. A professionally printed price tag with the price crossed out and a lower price written in. c. A Professionally printed price tag with the actual price hand-written in a blank provided for the price. d. A price tag that says no reasonable offer refused. e. A price tag that looks like it was professionally printed.

Which of the following research techniques is most likely to be used in Causal research? Select one: a. Video observation b. Case studies. c. Ethnography d. Focus groups e. Controlled experiment

Which of the following situations is probably illegal price discrimination as determined by the Robinson-Patman Act? Select one: a. These are all examples of illegal price discrimination. b. A gasoline filling station charges customers who use a credit card or an ATM card three cents extra per gallon. c. A bank charges a lower fee for a checking account to customers who have agreed to have their paychecks deposited to the account automatically? d. The Frito Lay company sells potato chips to Wal Mart for less money than to a local grocery store because Wal Mart buys in very large quantities in order to be able to offer low prices. e. A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network.

Which of the following statements about attitudes is FALSE? Select one: a. Attitudes are relatively stable b. Attitudes must have an object c. Attitudes can be favorable or unfavorable d. Attitudes are learned e. Attitudes become more favorable over time

Which of the following statements about the product life cycle is TRUE? Select one: a. All of these statements about the product life cycle are true. b. The product life cycle shows that a product begins life profitable and will last until it is no longer profitable. c. The product life cycle can only be used to understand individual brands. d. The product life cycle is not useful for understanding products such as fashion, which are expected to have a short life. e. The product life cycle deals with aggregate demand over the lifetime of a product.

Which of the following statements about value is FALSE? Select one: a. Value is entirely based on the customer's perceptions b. No two people will value the same product in exactly the same way. c. In order to have value, the benefits must outweigh the cost of acquiring them d. One can increase value by reducing the cost of acquiring a benefit e. Customers who fail to perceive the benefit a manufacturer designed into a product may have an incorrect perception of its value to them.

Which of the following typically a responsibility of the marketing function in an organization?Select one: a. Recruit executive level job candidates. b. Salvage old equipment after it has been depreciated. c. Purchase supplies for the company cafeteria. d. Develop the organizations financial plan. e. Listen to the market.

Which of these is NOT a good source of new product ideas? Select one: a. Suppliers b. Existing customers c. Consultants d. People who complain about your current product offerings. e. All of these are good sources of new product ideas

Which of these is NOT a typical discount or allowance applied at the time a product is purchased? Select one: a. Seasonal discount b. Quantity discount c. Promotional allowance d. Trade discount e. All of these are discounts or allowances applied at the time of purchase.

Which of these statements about the introductory stage of the product life cycle is true? Select one: a. The introductory stage corresponds to the late majority in the diffusion process. b. Competition in the introductory stage is usually very intense. c. Unprofitable products should be divested at the introductory stage. d. Penetration pricing allows you to earn back your initial investment more rapidly. Incorrect e. All products start the introductory stage start by losing money.

Younjin is a purchasing agent for Acme Enterprises. She is responsible for the company's copiers. The company makes lots and lots of copies so they spend more than $10 million on copies each year. Younjin is considering replacing all of the company's copiers with a networked solution that digitizes all documents and prints them on demand at designated workstations. This system will have to be custom designed for the company and will cost several million dollars. Younjin will probably treat this as a __________ decision? Select one: a. Boom or bust b. Make or buy c. Straight rebuy d. Modified rebuy e. New task buy

Yuli is the California regional manager for a suntan lotion company. Tomorrow morning she must meet with her supervisor for her annual performance review. In preparation for the meeting, she prints a copy of a routine ____________ showing her performance for the year compared to her goals. Select one: a. Decision analysis b. Colbert report c. Exception report d. Ad-hoc analysis e. Progress report

_________ affects the amount of time and effort a buyer invests in the consumer buying process. Select one: a. Identifying alternatives b. Cognitive Dissonance c. Internal search d. Postpurchase behavior e. Involvement

____________ are the costs of production that are tied to and vary with the number of units produced? Select one: a. Fixed costs b. Total costs c. Opportunity costs d. Marginal costs e. Variable Costs

____________ deals with the flow of physical goods and related information through the value chain? Select one: a. Channeling b. Efficiency c. Marketing d. Promotion e. Logistics

Encoded, decoded

One of the difficulties in determining ethical behavior in marketing is that ____________; the clandestine collection of trade secrets or proprietary information is both illegal and unethical; while collecting marketing intelligence about your competition is necessary?

Espionage

The first step in developing an advertising campaign is?

Establish the target audience

When faced with a decision, ___________ are the moral and legal principles that serve as guidelines on how to behave?

Ethics

Which of these is a reason consumers frequently give to justify unethical consumption?

Everybody does it

Although you have the ability to decide whether or not to do business with a particular supplier, you can't tell the supplier how to run his or her business. This is why suppliers are part of the?

External microenvironment

The ______________ deals with factors that affect your company, but are beyond your ability to control directly?

External microenvironment

The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically first create a physical prototype of a new product? Select one: a. New-product strategy development b. Business analysis c. Screening and evaluation d. Market Testing e. Commercialization f. Technical development g. Idea generation

A selective market coverage approach works best for shopping products that have a distinctive brand. Select one: True False

False

According the the information presented in class, the role of unsupervised learning in marketing analytics is to create models to predict future outcomes. Select one: True False

False

All (or most) customers are consumers Select one: True False

False

An inexpensive package shows the customer that you focus on making quality products rather than making pretty packages. Select one: True False

False

Attitudes are permanent Select one: True False

False

Buyer's remorse affects business customers as well as consumers Select one: True False

False

Customers control the features that are available in the products they buy. Select one: True False

False

During the idea generation stage of the new product development process, it is important to evaluate new product ideas as they come in to avoid being overloaded with unusable ideas. Select one: True False

False

For stores selling luxury products, it is important for customers to be able to see the prices of the merchandise when browsing.

False

From a channel flow perspective, ownership of a product changes from producer to consumer when the consumer takes physical possession of the product. Select one: True False

False

Frontline users need technical training in order to get the most out of marketing analytics programs. Select one: True False

False

Giving a customer an opportunity to try the product before making the purchase decreases the likelihood of an eventual purchase. Select one: True False

False

Human beings always choose the best available product when making a purchase. Select one: True False

False

Ideally each of the channel flows is performed by a separate business that specializes in that function. Select one: True False

False

In a performance-oriented culture, people at every level are encouraged to develop their own tactics for executing the strategic plan. Select one: True False

False

In the United States, commerce within the states is regulated at federal level

False

In the United States, the federal government monitors the marketplace for possible infringement on registered brand names. Select one: True False

False

It is a waste of money to create more than one ad for each key word used in a search engine marketing campaign.

False

It is better to wait for a long time and raise prices significantly than it is to have regular smaller price increases? Select one: True False

False

It is impractical to sell expensive products such as electronics or cosmetics through vending machines.

False

It is more important to evaluate positive information than it is to evaluate negative information when trying to understand how customers perceive your product. Select one: True False

False

It makes it easier for a customer to adopt a new product if the new product is similar to the one it is intended to replace. Select one: True False

False

Keeping inventory levels low decreases the chance of a stock out. Select one: True False

False

Market research only costs money if it uses primary data. Select one: True False

False

An advertisement for a medical alert device shows a senior citizen who has fallen and is unable to reach the telephone to call for help calling "Help! I've fallen and I can't get up." This situation would not have happened if the senior citizen had the medical alert device attached to her person. This is an example of a(n) _________ appeal in advertising.

Fear

Marketers of products such as Valentines Day chocolates frequently use a ____________ advertising scheduling tactic.

Flighting

The PUSH approach to promotion...

Focuses on getting members of the distribution channel to support the product

Bruce went shopping at the Hermes store in New York City. This is a very high end fashion store. When he entered the store, an associate asked him what he was looking for. She then escorted Bruce to the neckwear department and had him sit (with a cup of coffee) while she brought out a selection of neckties she thought he might like. After Bruce paid for the neckties, the store had the packages shipped to Bruce's hotel. This is an example of _____________ retailing?

Full service

People are more likely to share content on social media if it is....?

Funny

The _________ stage of the personal selling process involves making sure that any promises made to the customer are kept in order to develop a relationship with the customer.

Follow up

The ___________ sales presentation format, frequently used with inexperienced sales representatives involves memorizing a standardized sales presentation?

Formula selling

The ___________ sales presentation format, frequently used with inexperienced sales representatives involves memorizing a standardized sales pressuentation?

Formula selling

Which of the following is one of the four basic roles for a salesperson as discussed in class?

Generating transactions

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is?

Getting the persons attention

Which of the following statements about publicity is FALSE?

Good publicity doesn't cost the marketer any money.

_____________ involves a company's efforts to differentiate based on environmentally practices?

Green Marketing

___________ is defined as achieving conventional goals with unconventional methods, such as investing energy instead of money?

Guerrilla marketing

In content marketing, a prospects __________ is continually updated based on interactions with the company.

Lead score

___________________ is still used successfully today, especially when dealing with expensive, one-time purchases; even though most marketers consider it incompatible with relationship building.

High pressure selling

When using the _____________ approach to selling, the salesperson will encourage the customer to make a decision quickly, so that the customer doesn't have a lot of time to think things over or to change his or her mind.

High-pressure

Which of the market structures best describes the current state of retailing in the United States?

Highly Concentrated

_____________ is a guerilla marketing tactic where a company that is not a sponsor of an event will behave in a way that people might think they are in fact a sponsor of the event?

Hijacking

Coors light ran a series of beer advertisements where footage of Bill Walsh, the former head coach of the San Francisco 49ers, taken from press conferences was edited to make it appear that he was answering questions about beer asked by intoxicated fans. This is an example of a(n) ___________ appeal in advertising?

Humor

What was your instructor talking about when he suggested using the "Facebook" standard to determine whether or not a decision you made is ethical?

If all of your Facebook friends, including your mother, will know what you did; what choice would you make?

Which of these statements best describes the basic norm of business ethics?

In general, people are honest

What is the relationship between the richness of an information channel and the ability to stimulate emotions?

In order to stimulate emotions with advertising, you need an information rich medium such as television.

A ____________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet?

Independent store

Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle?

Inform

When people surf the web, they are looking for either _________ or _________?

Information, entertainment

The objective of an advertisement for a product in the introductory stage of the product life cycle is probably ___________?

Informing

The __________ environment deals with issues that are within your company's ability to control directly?

Internal

The ______________ deals with factors that affect your company, and are within your ability to control directly?

Internal microenvironment

Because of high ___________ retailers with low profit margins can still be attractive businesses?

Inventory turnover

___________ are society's values and standards that are enforceable in court?

Laws

One of the ethical issues in marketing is establishing what is a fair price. Some pharmaceutical companies charge very high prices for life saving drugs because they need to recover the massive amounts of money invested in new drugs that never made it to market. While there is no question this practice is __________, there is a question about whether it is ___________?-

Legal, ethical

Pearl went shopping for school supplies at Target. She found the pencils, paper, and binders easily. However, there was a special kind of graphing calculator that her school required and she couldn't find it on the shelf. She pressed the customer assistance button and within a minute a friendly associate was there to help her. The associate told her that they were currently out of stock on the calculator. She could wait until the new shipment arrived tomorrow or, if she wanted to go to a nearby store where the calculator was in stock, the associate would be happy to call ahead and have one reserved for pearl. This is an example of _____________ retailing?

Limited service

Whenever I go into Safeway, I have to scan my Safeway card to receive the advertised discounts. Sometimes, when I have purchased a certain amount of groceries, the cash register will spit out a coupon good for 5% off of my next purchase. This is an example of a ____________ sales promotion?

Loyalty program

BruceCo is introducing a line of coffee for amateur athletes. They feel that the coffee will have the most appeal for men, aged 25-50, who run three times a week and are likely to participate in one or more races each year. Which advertising medium might be the best way to reach this target audience?

Magazine

The first thing to do when a customer asks a difficult question during the sales presentation is to?

Make sure you understand the question

The __________ environment deals with issues that affect your company only?

Micro-

_____________ is an ethical perspective that believes the motive behind a behavior is more significant than the outcome of the behavior?

Moral idealism

Which of the following statements about the ethical legal framework is TRUE?

Most business decisions are made in private

Merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones?

Narrow and shallow

One of the advantages of ________ as an advertising medium is that it is a relatively inexpensive way to reach local markets with time-sensitive ads?

Newspaper

The basic communication model describes how a message is transmitted from a sender to a receiver. Any of the several factors that could interfere with the ability of the sender to transmit the encoded message accurately are called?

Noise

Direct mail, catalog sales and vending machines are all examples of?

Non-store retailing

The ____________ component of the external macro-environment deals with restrictions state and federal laws place on a business' activities?

Political/legal

Which of the following is NOT one of the four roles for promotion?

Positioning

Two recent trends in retailing, television shopping channels and online selling are examples of?

Nonstore retailing

Which of the approaches to developing a promotions budget is theoretically the best one to use?

Objective task

A/B testing is a process used for ______________ in digital marketing?

Optimization

Which of the following statements about Optimization is TRUE?

Optimization is a continuous process

17.3.2 ______________ search results appear without any payment from a sponsor?

Organic

Which of the following is NOT a component of the promotional mix?

Packaging

Which of these approaches to establishing a promotions budget is the one most commonly used in business?

Percentage of sales

Bruce is introducing a new kind of test grading machine. The machine is very complicated, but it can save college professors a lot of time and money once they understand how to use it. College professors don't watch a lot of television. Which promotional tool might work best in this situation?

Personal selling

______________ is a promotional tool involving face-to-face interaction in order to persuade a customer to buy a product?

Personal selling

_________________ is a promotional tool involving face-to-face interaction in order to persuade a customer to buy a product.

Personal selling

When I go to the store, I see several different types of cola products. Normally I prefer Coke Zero, but sometimes I am in the mood for a different kind of drink. I may buy an energy drink, or a Snapple, or even head over to the mall for a smoothie. For Coca Cola, these other drinks are examples of ______________ competition?

Product

As long as an action is ____________ some people will do it even if it is considered to be illegal or even unethical?

Profitable

Companies that fail to ____________ will find themselves at a disadvantage in terms of reaching customers and finding good employees?

Promote diversity

______________ is all of the communication to support the marketing program.

Promotion

Mickey was hired by Metropolitan Life Insurance Company as a sales representative. The first task was to generate a list of 100 close friends and relatives who might be interested in talking about life insurance. This is an example of the ___________ phase of the personal selling process?

Prospecting

The ___________ stage of the sales process deals with creating the opportunity to make your presentation to the appropriate person?

Prospecting

Which element of the promotional mix typically compromises the smallest part of the promotions budget?

Public relations

____________ is a strategic communication process that builds mutually beneficial relationship between organizations and their publics?

Public relations

Advertisers frequently engage in ___________ where they exaggerate the benefits of the product without actually making a false claim about the product?

Puffery

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand would allow a new business to succeed. In order to convince the buyer at Winn Dixie grocery stores to carry his product, he ran coupons in the local newspaper where Winn Dixie had stores offering customers a free 16 ounce bag of frozen shrimp. These customers would bring the coupon into the store and ask for the product. Sanjeev was using a _______ promotion strategy?

Pull

Sanjeev was opening a new shrimp farm in Louisiana. Shrimp is the number one selling seafood in the United States and he felt that growing demand for shrimp would allow a new business to succeed. In order to find customers for his product, he sent samples of his 16 ounce package to the seafood buyers of the 15 largest grocery store chains. Along with the sample was an offer for 50% off the wholesale cost of shrimp for the first order. Sanjeev was using a ______ promotion strategy?

Push

Many sales managers report that ________________ is a high priority for them because turnover in the sales force is so high that they are always looking for good people?

Recruitment and selection

The primary audience for press kits is?

Reporters

The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver?

Response

_______________ is the process of selling goods and services to individuals for their personal use?

Retailing

Allen had lunch at the Automat. This is a trendy new restaurant where the customer selects ready made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace the items people select from the other side of the wall. This is an example of _____________ retailing?

Self-service

Which element of the promotional mix usually compromises the largest part of the promotions budget?

Sales promotion

_______________ refers to an approach to merchandising where a retailer may carry products unrelated to its primary lines of merchandise in order to meet the needs of its target market?

Scrambled Merchandising

When it comes to retail, the price value heuristic means that when you are in a store that has what you perceive to be high prices; you would expect to receive exceptional ________?-

Service

Entertainment retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is?

Shopping is all of these.

The key to success with the _____________ approach to selling is to contact as many people as possible and hope that one of them will be interested in your product.

Shotgun selling

One of the ethical issues in pricing is for retailers to require manufacturers to pay _________ to ensure placement of new products in a store. This practice is legal, but there is a question of whether it deprives customers of their right to choice under the Consumer Bill of rights?

Slotting fees

________ is (are) forms of electronic communication through which people create online communities to share information, ideas, personal messages, etc?

Social media

If I were scanning the _____________ environment, I would be interested in the trend where multi-generational households are increasing?

Socio-cultural

The ____________ component of the external macro-environment deals with the demographic characteristics of a population and its values?

Socio-cultural

A ___________ is a public relations activity where a company makes a financial or in-kind contribution to another organization in exchange for public recognition of the company's association with the organization?

Sponsorship

Retailers use ___________ as a way to make it easy for customers to navigate in the store?

Store Layout

One of the functional benefits of packaging might be that a customer could re-use the package for other things after the product has been consumed. Select one: True False

True

Technology

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is?

Telling the person what you want them to do

Lindsay Wagner, the Bionic Woman of classic television fame, appears in advertisements for the Sleep Comfort Adjustable bed. In the advertisement, she explains how the ability to change the level of firmness in the mattress has changed her life. This is an example of a(n) ___________ appeal in advertising.

Testimonial

What do we mean when we speak of a "bad click" in search engine marketing?

That the person who responds to our online ad has no interest in our product.

Two powerful influences on a company's ethical culture are its code of ethics and _____________?

The behavior of people in the company

Which of the following is an example of context information available from a mobile device such as a smartphone?

The direction a person is moving

One of the problems with sales promotions is that?

The effects tend to be short lived

What is the relationship between a SWOT analysis and an environmental scan? Select one: a. The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses. b. The environmental scan deals with issues that affect the organization specifically while the SWOT deals with critical issues whether or not they affect the organization. c. The environmental scan deals with strategic issues while the SWOT analysis deals with tactical issues d. The environmental scan identifies issues outside of the organization while the SWOT analysis evaluates internal strengths and weaknesses. e. The environmental scan evaluates external factors in terms of opportunities and threats while the SWOT analysis evaluates internal factors in terms of strengths and weaknesses.

The environmental scan identifies issues that are relevant to the strategic planning process; the SWOT analysis evaluates key issues in terms of the organizations strengths and weaknesses.

What do we mean when we speak of the richness of an information channel?

The number of different information cues the cannel can carry.

When I was a young man (not too long ago) Big Box retailers very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ____________?

The retail life cycle

Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away?

The retail life cycle

Which of the following is NOT one of the 'rights' included in The Consumer Bill of Rights proposed in the 1960s?

The right to cancel a purchase

One of the ways our perceptions are biased is that we don't see things that are really there. Select one: True False

True

People prefer to shop for groceries near to where they live.

True

WalMart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________?

The wheel of retailing

Which theory of retail evolution proposes that as retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market?

The wheel of retailing

Which theory of retail evolution proposes that retail stores start out as low price low-status stores and then gradually move upscale as the business grows?

The wheel of retailing

What do we mean when we speak of ad 'clutter'?

There are so many advertisements out there that it is hard for marketers to get people to notice their ad.

Which of these is NOT an advantage of television as an advertising medium?

There is a low access cost

John Wannamaker is reputed to have said "I know that half of my advertising dollars are wasted, I just don't know which half." This illustrates a major problem in evaluating advertising effectiveness which is?

There is a low correlation between running an advertisement and a change in sales.

The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is?

There is not a direct link between promotion expenditures and sales performance

The reason integrated marketing communications campaigns are so powerful is that?

These are all reasons why integrated marketing communications can be so powerful

Which of the following is a reason why environmental scans are so important to marketing managers.

They can help you avoid Marketing Myopia.

Many sales people prefer outside selling because?

They can make more money

Many sales people prefer inside selling because?

They don't like to travel

Which of the following statements about the AIDA model of persuasive communication is TRUE?

This is a sequential process; all persuasive messages have to go through the four stages.

Which promotional role might be most appropriate for a product in the decline stage of the product life cycle?

This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage.

Retailers attempt to make the shopping experience fun because people put a different value on the products they buy when they are having fun.

True

Some businesses engage in pseudo-research to generate public support for a controversial issue. Select one: True False

True

Television networks share the space to run ads during a program with local affiliate stations.

True

"Air time" or access to communication media is a major cost for traditional marketing campaigns.

True

A distributor is simply a wholesaler serving the B2B (business to business) market. Select one: True False

True

A memorandum of understanding summarizes key points in a business agreement. Select one: True False

True

A temporary price cut is an investment in promotion? Select one: True False

True

According the the information presented in class, the role of supervised learning in marketing analytics is to create models to predict future outcomes. Select one: True False

True

According to the ethical legal framework, it is important to balance the goals of all stakeholders when setting goals for the business.

True

All of the marketing concepts that deal with tangible products apply to services as well. Select one: True False

True

Availability or having a product in stock is a primary distribution concern for convenience products. Select one: True False

True

CPM, or cost per 1000 impressions is a way to compare the cost of different advertising media.

True

Companies that take a proactive approach to new product development see new product development as critical to their success. Select one: True False

True

Compared to the size of the business market in dollars, the consumer market is much smaller. Select one: True False

True

Earned content is more credible than sponsored content.

True

Every time you compare your product to a competitor's, you are promoting your competitor's product. Select one: True False

True

For discount stores, it is important for customers to be able to see the prices of the merchandise when browsing.

True

From a retail pricing perspective, $999.99 is significantly lower than $1000. Select one: True False

True

If you are the first to use a brand name in business you have the right to use that name even if another company later trademarks the same brand name. Select one: True False

True

In online marketing, atmospherics deals with the look and feel of the website. Select one: True False

True

In the United States, commerce within the states is regulated at state level

True

In the United States, industries can choose to regulate themselves if there is no government regulation of that industry.

True

In the United States, some industries are self-regulated

True

Information in a marketing dashboard is usually displayed graphically. Select one: True False

True

It helps to keep your brand name from falling into the common usage if you use the brand name as an adjective, rather than as a noun or verb. Select one: True False

True

It is more common to use negotiated prices in B2B markets than it is in consumer markets? Select one: True False

True

Large corporations use crowdsourcing campaigns to fund new product development, even if they don't need the money raised through crowdsourcing to develop the product idea. Select one: True False

True

Manufacturers of inherently dangerous products may be held liable for damages even when they did nothing wrong. Select one: True False

True

Many products don't make it past the introductory stage of the product life cycle because late stage buyers are not as forgiving as innovators when there are imperfections in the new product. Select one: True False

True

Marketing analytics is a general term that could be applied to any attempt to use data to inform decisions? Select one: True False

True

Most business people are honest and keep their word when they make a promise..

True

One drawback to adopting an intensive market coverage strategy is that there is no incentive for channel partners to promote your product because it isn't "special". Select one: True False

True

One of the advantages of the three circles positioning framework is that it shows you where your competitors are wasting their time. Select one: True False

True

After the superbowl football game, Mark got a phone call from a Polling organization. The person on the phone asked Mark which commercials he remembered seeing during the Super Bowl. This is an example of a(n) _________________ test of advertising effectiveness.

Unaided recall

Bruce's Angels is a not for-profit organization that makes the world a better place. Bruce learned that a member of his board of directors had decided to resign from the volunteer position so that he could pay more attention to his business. Later that day, Bruce learned that two of his key staff people were leaving because they had received a very attractive job offer from the former board member's company. It was clear that the board member had recruited these people for his company before he resigned from the board. According to the ethical legal framework, the behavior of this board member would be considered...?

Unethical but legal

_____________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost?

Utilitarianism

One way groups of independent businesses can compete with large retail chains is to form a _______________?

Vertical marketing system

One of the ethical issues in marketing is that some market segments, such as children or the elderly, may not fully understand the choices they are being asked to make. What is the proper approach to marketing to these ___________?

Vulnerable groups

Which of the following is a strategic issue relating to personal selling a sales manager needs to address?

What is the role of the salesforce in the promotional mix?

A _____________ is a person who reports unethical behavior in a company?

Whistle Blower

Which of these is a question you should be asking when establishing the objective for a promotional campaign?

Who is the target audience

One of the differences between e-mail marketing and paid search is...?

With e-mail marketing, you know in advance who will be receiving your message

Which of the following forms of promotion is the most influential?

Word of mouth

Which of these statements best describes how key words are purchased in search engine marketing?

You can't know for sure how much you will pay for a specific key word, but you can know how much you can spend for key words on a specific day., All of these statements describe how key words are purchased in search engine marketing.

Which of these stores would you expect to find in a city's central business district?

You would expect to see all of these in a central business district.

What do we mean when we speak of advertising 'campaigns'?

a group of advertisements and related promotional activities conducted over a specific period of time in order to achieve a desired outcome

When using a SWOT analysis, a threat is an issue that is? Select one: a. Negative External b. Negative, Internal c. Positive External d. Positive, opportunity e. Positive, Internal

a. Negative External

Sales data is frequently used as a metric in marketing plans. Which of the following is NOT a commonly used sales measure? Select one: a. Advertising expenditures b. Sales volume c. Year to year change in sales volume d. All of these are commonly used sales measures e. Sales in dollars

a. Advertising expenditures

Which of these is NOT a measure generally used in advertising? Select one: a. All of these are measures commonly used in advertising b. Reach c. Aided recall d. Impressions e. Unaided recall

a. All of these are measures commonly used in advertising

Why does your instructor recommend the chain ratio method of sales forecasting? Select one: a. Because it integrates sales forecasting into the strategic management process. b. Because it is the best approach for very long-term (3 years or more) forecasts. c. Because is uses math to quantify subjective issues. d. Because he is insane and that is just the kind of recommendation you would expect from an insane person. e. Because it is the easiest method of forecasting.

a. Because it integrates sales forecasting into the strategic management process.

Why is it important to develop contingency plans when you adopt a sales forecast? Select one: a. Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances. b. Because you need the best case and worst case scenarios. c. A contingency plan is what you do if a forecast is incorrect. d. Because you create a best case, a worst case, and a most likely scenario. e. A contingency plan is what you do if the forecast is correct.

a. Because once a plan is underway, there is a tendency to explain away unexpected results rather than try to adapt the plan to the new circumstances.

In class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify Barnes and Noble bookstore - a large retailer that carries hundreds of books in several different categories as well as videos, CDs and games? Select one: a. Broad and deep b. Narrow and deep c. High and mighty? d. Broad and narrow e. Narrow and shallow

a. Broad and deep

Bruce was planning to open a coffee shop to compete with the national chains. He wanted to be more personal than the national chains so he asked his employees to greet regular customers by name and ask them if they would like their usual drink. He felt the national chains were focused on running the assembly line rather than on welcoming customers. How would you rate Bruce's level of competency in this business model? Select one: a. Bruce has established a point of difference that he might be able to exploit in the future. b. Bruce will not have a distinctive competency because coffee drinkers prefer to remain anonymous. c. Bruce will have a distinctive competency because his customers will be able to enjoy snacks along with their coffee. d. Bruce is only doing what is expected. He has failed to differentiate himself e. Bruce has developed a distinctive competency that will give him a competitive advantage.

a. Bruce has established a point of difference that he might be able to exploit in the future.

In a multi-market, multi-product firm such as the Nestle Corporation, what is the highest level at which strategic planning might take place? Select one: a. Corporate level b. Marketing department level c. Business Unit level d. Mezzanine level e. Functional area level

a. Corporate level

Which level of the organization is typically responsible for determining the makeup of the organization's portfolio of businesses? Select one: a. Corporate level b. Business Unit level c. Functional area level d. marketing department level e. mezzanine level

a. Corporate level

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies develop a performance oriented ____________? Select one: a. Culture b. Management team c. Operation d. Compensation package e. Website

a. Culture

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies maintain flawless operational ____________? Select one: a. Execution b. Mission statements c. Plans d. Product development e. Advertising

a. Execution

A(n) ___________ is a quantifiable measure used to track, monitor, and assess the success or failure of a business practice? Select one: a. Metric b. Tactic c. Choice d. Objective e. Number

a. Metric

a. Noise

A (n) ______________ is a long-term accomplishment that the organization wants to achieve? Select one: a. Objective b. Metric c. Outcome d. Report e. Benchmark

a. Objective

BruceCo is a small coffee company. Recently, the surgeon general announced that students who consume massive amounts of coffee the night before an examination tended to perform better than students who do not drink coffee. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo? Select one: a. Opportunity b. Weakness c. Threat d. Point of difference e. Strength

a. Opportunity

Which element of the promotional mix usually compromises the largest part of the promotions budget? Select one: a. Personal selling b. Advertising c. Public relations d. Sales promotion e. Word of mouth

a. Personal selling

Which element of the promotional mix usually compromises the smallest part of the promotions budget? Select one: a. Public relations b. Sales promotion c. Personal selling d. Packaging e. Advertising

a. Public relations

_______________ refers to an approach to merchandising where a retailer may carry several unrelated lines of merchandise in order to meet the needs of its target market? Select one: a. Scrambled merchandising b. General merchandising c. Category killing d. Disintermediated merchandising e. Strategic merchandising

a. Scrambled merchandising

Destination retailing recognizes that in addition to satisfying needs through purchasing products, for many people, shopping is? Select one: a. Shopping is all of these. b. Fun c. A need-satisfying experience d. A way to learn about new things e. A social experience

a. Shopping is all of these.

_______________ is the process of determining what an organization is, who it serves, what it does, and why it does what it does, with a focus on the future? Select one: a. Strategic planning b. Tactical planning c. Marketing d. Environmental scanning e. SWOT analysis

a. Strategic planning

A major difference between a business plan and a marketing plan is that a Business plan will include ________ while a marketing plan will not? Select one: a. Strategies for each functional area b. A description of the customers/markets served c. A situation analysis d. Specific objectives e. A sales forecast

a. Strategies for each functional area

Which of the following statements about an organization's mission statement is FALSE? Select one: a. The mission statement is something that only applies at the corporate level b. The mission statement should be vague enough to allow managers to respond to changes in customers or markets. c. A mission statement is frequently perceived as being inspirational d. The mission statement should be specific enough to allow managers to determine whether or not a proposed strategy is appropriate for the organization. e. The organization's stakeholders should be aware of the mission statement.

a. The mission statement is something that only applies at the corporate level

When I was a young man (not too long ago) Big Box retailers - very large, free-standing specialty stores were very popular. Today many of these stores such as Toys'R'us and Party Supplies Warehouse, stand empty. This could be explained according to ____________? Select one: a. The retail life cycle b. The channel flows concept c. The wheel of retailing d. Disintermediation e. The fundamental attribution error

a. The retail life cycle

Which of the following is a major disadvantage of the market testing approach to forecasting. Select one: a. The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace. b. Test markets only work in markets where demand fluctuates wildly (high volatility). c. Tests markets for new products tend to have relatively short-term (1 year or less) forecasts. d. It only works in markets where demand is relatively stable. e. Test markets can only provide short-term (1 year or less) market forecasts..

a. The time it takes to conduct the test market may put you at a competitive disadvantage in the marketplace.

Wal-Mart started out as a low-cost, low-status retailer. The company's success was founded on a policy of eliminating cost from retailing and passing the savings along to the consumer. Recently the company has been experimenting with high-end products such as big-screen televisions and fine jewelry. This move could be expected according to ____________? Select one: a. The wheel of retailing b. The fundamental attribution error c. The retail life cycle d. The channel flows concept e. Disintermediation

a. The wheel of retailing

Which promotional role might be most appropriate for a product in the decline stage of the product life cycle? Select one: a. This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage. b. Persuade c. Build Relationships d. Inform e. Remind

a. This is a trick question - a company is unlikely to spend money on promotion when a product is in the decline stage.

The _____________ is the result of eliminating middle management positions in order to shorten lines of communication within the organization? Select one: a. Trend toward flatter organizations b. Development of cross-functional teams c. Trend toward empowering employees d. Trend toward matrix organizations e. Trend toward hierarchical organizations

a. Trend toward flatter organizations

Which of the following forms of promotion is the most influential? Select one: a. Word of mouth b. Advertising c. Sales promotion d. Public relations e. Personal selling

a. Word of mouth

b. Advertising

b. Atmospherics

Why is it important for a marketer to know the ownership structure of a retail store? Select one: a. Ownership can be vertical marketing systems, independent stores or corporate chains. b. Because the ownership structure determines who you need to approach in order to sell to the store. c. Because it is easier to get an appointment with a manager of a chain store than with the manager of an independent store. d. Because other marketers will make fun of you if you don't understand the ownership structure of a store. e. Because decisions are made at the store-level regardless of who owns the store.

b. Because the ownership structure determines who you need to approach in order to sell to the store.

The best understanding of market dynamics comes when sales is expressed in? Select one: a. Units b. Both dollars and units c. Percentage change from year ago. d. Dollars e. Sales per square foot.

b. Both dollars and units

The basic communication model describes how a message is transmitted from a sender to a receiver. The __________ is the medium used to transmit the encoded message to the receiver? Select one: a. Feedback b. Channel of communication c. Noise d. Field of experience e. Response

b. Channel of communication

Developing a ______________ involves identifying critical points in the plan, anticipating what could go right or what could go wrong and determining in advance what course of action you will take? Select one: a. Strategic plan b. Contingency plan c. Outcome measure d. Diagnostic measure e. Tactical plan

b. Contingency plan

In information theory, a ________ is a method of encoding information? Select one: a. Cipher b. Cue c. Channel d. Computer e. Medium

b. Cue

According to the instructor, which of the following media is the richest information channel? Select one: a. Radio b. Face to face conversations c. Newspaper d. Outdoor e. Television

b. Face to face conversations

A ________________ is a prediction of what a business's sales will be in the future? Select one: a. SWOT analysis b. Forecast c. Market share report d. Pro-forma production request e. Prediction

b. Forecast

b. Full service

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The FIRST thing you have to do is? Select one: a. Get the person interested in what you are saying b. Get the person's attention c. Tell the person what you want them to do. d. Create a positioning statement. e. Create a desire for what it is that you want the person to do.

b. Get the person's attention

A ____________ is a retail concept where, typically a smaller retailer provides highly personalized service through a single retail outlet? Select one: a. Franchise b. Independent store c. Contractual system d. Corporate Chain e. Co-op

b. Independent store

Which promotional role might be most appropriate for a product in the introductory stage of the product life cycle? Select one: a. Positioning b. Inform c. Persuade d. Build Relationships e. Remind

b. Inform

When it comes to setting budgets, a bottom-up budget...? Select one: a. Is determined at the corporate level b. Is developed by the managers responsible for implementing the plan. c. Is the most common approach to allocating resources. d. Is the best approach to allocating resources. e. Represents a strategic investment in marketing as opposed to other alternative investments.

b. Is developed by the managers responsible for implementing the plan.

There are two things you need to know about a number if you are planning on using it as a metric. One of them is? Select one: a. How was it developed? b. Is it good or bad? c. We need to know all of these things in order to use a number as a metric d. Can we trust the source? e. Is it odd or even

b. Is it good or bad?

b. Limited service

There are two things you need to know about a number if you are planning on using it as a metric. One of them is? Select one: a. Is it odd or even b. What is the trend? c. Can we trust the source? d. We need to know all of these things in order to use a number as a metric e. How was it developed?

b. What is the trend?

What is the relationship between the strategic planning that occurs at different levels in an organization? Select one: a. Higher-level strategic plans must be completed before lower-level strategic plans can be initiated. b. Lower-level strategic plans must fulfill what is called for in higher-level strategic plans. c. The lower-level strategic plans must be completed before the higher-level strategic plans can be developed. d. Different levels of strategic planning deal with completely different issues. e. Everyone in the organization is working on the same strategic plan. The plan is initiated at higher levels and then passed down to lower levels for further processing.

b. Lower-level strategic plans must fulfill what is called for in higher-level strategic plans.

The difference between the retail price and a store's cost of goods sold (COGS) is its __________? Select one: a. Differential b. Markup c. Discount d. Maintenance e. Profit

b. Markup

According to your instructor, how does the basic communication model illustrate how important writing skills are to business today? Select one: a. If you put a message in writing, you will avoid misunderstandings b. Most commercial messages go through a written phase regardless of their eventual channel of transmission. c. Written communication is the most effective way of transmitting a commercial message. d. Most business communication is in writing. e. Business communication doesn't become final until it is in writing

b. Most commercial messages go through a written phase regardless of their eventual channel of transmission.

Employees at Walt Disney Resorts wear distinctive uniforms and are trained to always be in character when they are visible by the park's guests. They put on their costumes in areas that are not visible to guests so that they will always look the part when they are on the job. This is an example of using _____________ to implement a store positioning strategy? Select one: a. Atmospherics b. Personnel c. Magic d. Lighting e. Store design

b. Personnel

Many grocery stores place frequently purchased staples such as milk or bread at the back of the store. This way, customers will have to wander through the store in order to find the milk. On the way, they may see other products that they will purchase. This is an example of using _____________ to implement a store positioning strategy? Select one: a. Intrusion b. Presentation c. Place d. Product e. Promotion

b. Presentation

When we say a measure is __________ we mean that it should involve a number? Select one: a. Adaptable b. Quantifiable c. Objective d. Timely e. Relevant

b. Quantifiable

When we say a measure is __________ we mean that it relates directly to the goal it is intended to measure? Select one: a. Timely b. Relevant c. Objective d. Quantifiable e. Adaptable

b. Relevant

The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver? Select one: a. Field of experience b. Response c. Noise d. Channel of communication e. Feedback

b. Response

Which of these is NOT a measure generally used in marketing? Select one: a. Satisfaction b. Share of budget c. All of these are measures generally used in marketing. d. Share of voice e. Share of wallet

b. Share of budget

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies have clearly stated and focused ____________? Select one: a. Metrics b. Strategies c. Plans d. Pricing e. Promotion

b. Strategies

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is? Select one: a. Create a positioning statement. b. Tell the person what you want them to do. c. Create a desire for what it is that you want the person to do. d. Get the person's attention e. Get the person interested in what you are saying

b. Tell the person what you want them to do.

What do we mean when we speak of the richness of an information channel? Select one: a. The relative cost of the information a channel can carry. b. The number of different information cues the cannel can carry. c. Whether or not the channel has a print component. d. The ability of a channel of information to eliminate unnecessary noise. e. The cost per information cue in an information channel.

b. The number of different information cues the cannel can carry.

The reason integrated marketing communications campaigns are so powerful is that? Select one: a. They focus all promotional activities on a single promotional objective b. These are all reasons why integrated marketing communications can be so powerful c. They recognize that people receive information from many different channels d. There is a cumulative effect of many different iterations of the same message e. All areas of the company are sending a consistent message to the customer

b. These are all reasons why integrated marketing communications can be so powerful

In order to execute a strategic marketing plan, long-range strategic objectives need to be broken down into short-range tactical objectives so that each unit of the organization understands? Select one: a. At what point in time is the unit expected to have completed the tasks assigned to it. b. These are all things each unit of the organization needs to understand in order to execute a strategic plan. c. What resources will be required in order for the unit to achieve its task? d. What is expected of it in terms of achieving the plan's goals? e. Which tasks have the highest priority?

b. These are all things each unit of the organization needs to understand in order to execute a strategic plan.

Which of these is something you need to consider when it comes time to develop the marketing budget? Select one: a. Sometimes the top-down approach and the bottom-up approach come up with very different budget estimates. b. These are all things you need to have in mind when it is time to negotiate a budget. c. You need to have contingency plans in place in case not all of the money requested in the budget is approved. d. You need to be able to make a case as to why the money you requested in your budget is necessary. e. In a larger organization, there will be several groups competing for budget dollars.

b. These are all things you need to have in mind when it is time to negotiate a budget.

Which of the following statements about forecasting is true? Select one: a. In order to develop an actionable forecast, you have to use three or more different methods. b. When the stakes are low (not much at risk if you make a bad decision) you should make a greater effort in your sales forecast. c. All forecasts are guesses. d. The past sales method is more accurate in volatile (high uncertainty) markets. e. Long-term forecasts are more accurate than short-term forecasts.

c. All forecasts are guesses.

Irene wanted to start a Juice drink business in San Mateo. She felt that in order to build the traffic she needed to make the store successful, she should develop an integrated marketing communications program that included outdoor advertising on billboards near to her store, coupons printed in the local shopper newspaper, radio advertisements during afternoon drive time and on weekends, television ads on the food network using her local cable operator and a couple of giant helium balloons flying over her shop fro the grand opening. Because she didn't have the $175,000 to pay for the entire campaign, she decided to buy a couple of giant helium balloons for $500 and to do the rest of the things after the shop opened and she had some cash flow coming in. This is an example of the ______________ approach to setting the promotion budget? Select one: a. Competitive parity b. Objective task c. All you can afford d. Delphi method e. Percent of sales

c. All you can afford

A ____________ franchise provides step by step procedures for most decisions a franchisee will face? Select one: a. Independent store b. Product-distribution c. Business-format d. Consultancy e. Corporate chain

c. Business-format

Santa Claus is trying to estimate demand for toys this Christmas. He know there will be 3.7 billion children because he monitors birth trends across the world. He knows from experience that 14% will be naughty this year and get coal rather than presents for Christmas. He recently commissioned a research study from Donner + Blitzen associates who found that children stop believing in Santa Clause when they are 5.8 years old. Santa is likely to use the ____________ method to forecast demand for toys? Select one: a. Market testing b. Market Factor Analysis c. Chain ratio d. Sales force survey e. Survey of buyer intentions

c. Chain ratio

A ____________ is a retail concept where two or more stores are owned and operated by the same company? Select one: a. Co-op b. Contractual system c. Corporate Chain d. Franchise e. Independent store

c. Corporate Chain

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach? Select one: a. Diversification b. Product development c. Differentiation d. Market development e. Penetration

c. Differentiation

The basic communication model describes how a message is transmitted from a sender to a receiver. In order for this to happen, the message has to be _________ by the sender and ________ by the receiver? Select one: a. Uplinked, downlinked b. Sent, responded c. Encoded, decoded d. Created, absorbed e. Transmitted, received

c. Encoded, decoded

Frequently, a retailer will offer a discount from its retail price. This _________ may be in order to move unsold inventory or to increase traffic into the store? Select one: a. Loss b. Differential c. Markdown d. Incentive e. Downgrade

c. Markdown

A ____________ is a collection of key marketing metrics organized in a way to highlight patterns of performance? Select one: a. Business plan b. Diagnostic measure c. Marketing dashboard d. Strategic plan e. Marketing plan

c. Marketing dashboard

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the least risky of the basic strategies suggested by this approach? Select one: a. Product development b. Differentiation c. Penetration d. Diversification e. Market development

c. Penetration

When using a SWOT analysis, an opportunity is an issue that is? Select one: a. Negative, Internal b. Positive, opportunity c. Positive External d. Positive, Internal e. Negative External

c. Positive External

Allen had lunch at the Automat. This is a trendy new restaurant where the customer selects ready-made sandwiches, soups, salads, desserts, and drinks from little compartments along a wall. He then places the selections on a tray, takes it to the check out section, scans each item, and pays for it with a debit card before going into the dining area to eat. There is a crew of cooks who replace the items people select from the other side of the wall. This is an example of _____________ retailing? Select one: a. Extended service b. Limited service c. Self-service d. Fill service e. Co-op

c. Self-service

Many strategic plans are not executed well because? Select one: a. They are too ambitious and it is impossible to implement all of the strategies called for in the plan. b. All of these are reasons given by the instructor why strategic plans may not be implemented well. c. The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization. d. Top-level executives are trained in strategic planning, but not in plan implementation. e. Many strategic plans are never intended to be implemented; rather they are designed to stimulate critical thinking about the organization.

c. The long-term strategic objectives are not translated into specific, actionable tasks to be done by people in the organization.

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be an outcome measure associated with the plan? Select one: a. The number of people who ask about the new blend of coffee b. All of these are outcome measures for this plan. c. The number of cups of the new blend sold each day. d. The price of the new blend of coffee e. The number of people who walked through the store each day

c. The number of cups of the new blend sold each day.

Which theory of retail evolution proposes that new retail concepts emerge, become popular, are widely imitated and then fade away? Select one: a. Disintermediation b. The channel flows concept c. The retail life cycle d. The fundamental attribution error e. The wheel of retailing

c. The retail life cycle

The quotation "I know that half of my advertising budget is wasted; but I don't know which half" illustrates the fundamental problem with measuring the effectiveness of promotions. The problem is? Select one: a. There are so many intermediaries in the promotions area that much of the promotions budget is spent on things other than communicating with customers b. A lot of time and energy are wasted developing promotional ideas that are not used. c. There is a low correlation between promotion expenditures and sales performance d. That it is easier to measure performance with some elements of the promotional mix than with other elements e. These are all elements of the fundamental problem

c. There is a low correlation between promotion expenditures and sales performance

If you can't live with the consequences of your ___________ scenario, don't implement the plan? Select one: a. Most likely b. Best case c. Worst case d. Zombie apocalypse e. Least Likely

c. Worst case

According to your instructor, when is the best time to establish a metric to measure the performance of a promotion? Select one: a. The last thing you should do when developing a promotion is to establish the metric. b. After the results of the campaign are available c. Before the promotional budget is determined d. At the time the promotion objective is established e. The first thing you should do when developing a promotion is to establish the metric.

d. At the time the promotion objective is established

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes right? Select one: a. Worst case b. Least Likely case c. Most likely case d. Best case e. Legal Case

d. Best case

The SWOT analysis can be used to develop marketing strategies by ____________? Select one: a. Minimizing an opportunity b. These are all ways to develop a strategy using the SWOT analysis. c. Building on a threat d. Building on a strength e. Building on a weakness

d. Building on a strength

An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the 'boxes' in an organizational chart show patterns of ____________ and ____________ within the organization. Select one: a. Power, influence b. Authority, reward c. Apples, oranges d. Communication, authority e. Hierarchy, dominance

d. Communication, authority

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? Select one: a. Did we exceed our budget? b. Was credit given to the appropriate people? c. Does this plan make my butt look big? d. Did we achieve our goals? e. To whom should I report these results?

d. Did we achieve our goals?

The product market growth matrix suggests four strategies based on customers and products. Which of the following is the riskiest of the basic strategies suggested by this approach? Select one: a. Differentiation b. Penetration c. Market development d. Diversification e. Product development

d. Diversification

The last stage in developing a marketing plan involves Select one: a. Conducting a situation analysis b. Conducting a SWOT analysis c. Setting the marketing objectives d. Establishing the budget and the timetable e. Developing marketing tactics using the marketing mix

d. Establishing the budget and the timetable

The PULL approach to promotion... Select one: a. Focuses on personal selling to promote the product b. Focuses on getting members of the distribution channel to support the product c. All of these are elements of the pull approach to promotion. d. Focuses on creating consumer demand for the product. e. Focuses on advertising to promote the product

d. Focuses on creating consumer demand for the product.

What is a major disadvantage of the market factor analysis method of forecasting? Select one: a. It only works in industrial markets. b. It is a very difficult method to use effectively. c. You can only use it to generate short-term (1 year or less) forecasts. d. In order to use it, there has to be a known market factor that correlates with your product's sales. e. The factors associated with a market change each season.

d. In order to use it, there has to be a known market factor that correlates with your product's sales.

Julio is the sales manager for Champion Spark Plugs. Julio knows that there will be a need for 4.6 sparkplugs (on average) for every new car built this year and a need for 0.7 replacement sparkplugs for every car built in the last seven years. Julio is likely to use the ___________ method for forecasting demand? Select one: a. Survey of buyer intentions b. Chain ratio c. Sales force survey d. Market Factor Analysis e. Lost horse

d. Market Factor Analysis

BruceCo competes in the premium coffee market in the San Francisco area. The biggest competitor, Starbucks controls 48% of the market while BruceCo controls only 1% of the market. BruceCo is measuring _________? Select one: a. Sales in dollars b. Advertising expenditures c. The competition d. Market Share e. Sales volume

d. Market Share

What is the difference between market size and sales potential? Select one: a. These are all differences between market potential and sales potential. b. Market size is an estimate based on research, sales potential is a fact based on internal sales data. c. Market size relates to dollar sales, sales potential relates to unit sales. d. Market size is the upper limit of sales for the industry as a whole, sales potential is the upper limit of sales for your company. e. Market size is the number of potential customers for your product, sales potential is the number of actual customers for your product.

d. Market size is the upper limit of sales for the industry as a whole, sales potential is the upper limit of sales for your company.

Roxanne has developed a new adult milk beverage that is enhanced with vitamins. There has never been a product like this before and she is wondering how many cases she should manufacture in the first year of production. Roxanne is likely to use the ____________ method to forecast demand. Select one: a. Sales force survey b. Market Factor Analysis c. Chain ratio d. Market testing e. Survey of buyer intentions

d. Market testing

The SWOT analysis can be used to develop marketing strategies by ____________? Select one: a. Minimizing an opportunity or a strength b. Identifying an opportunity or a strength c. Building on a strength or a threat d. Minimizing a weakness or a threat e. These are all ways to develop a strategy using the SWOT analysis.

d. Minimizing a weakness or a threat

A ____________ is a formal statement that describes the overall purpose of the organization and identifies its customers, products, processes, and values. Select one: a. Operating plan b. Business plan c. Executive summary d. Mission statement e. Strategic plan

d. Mission statement

n class we talked about how merchandise assortments can be described in terms of breadth and depth. How would you classify a kiosk at the mall that sells Cingular cellular phones? Select one: a. Broad and narrow b. High and mighty? c. Narrow and deep d. Narrow and shallow e. Broad and deep

d. Narrow and shallow

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies tend to have flat and flexible ____________? Select one: a. Personnel policies b. Codes of ethics c. Channels of distribution d. Organizational structures e. Packaging

d. Organizational structures

Which of the following is NOT one of the four roles for promotion discussed in class? Select one: a. Inform b. Persuade c. Remind d. Positioning e. Build Relationships

d. Positioning

When using a SWOT analysis, a strength is an issue that is? Select one: a. Negative, Internal b. Negative External c. Positive, opportunity d. Positive, Internal e. Positive External

d. Positive, Internal

______________ is communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response. Select one: a. Product b. Price c. Distribution d. Promotion e. Advertising

d. Promotion

What is a major disadvantage of the trend analysis method to forecasting? Select one: a. It can only provide long-term (more than one year) forecasts. b. It can only be used for new products. c. It is most effective at the early stages of a new product introduction. d. Relying on statistical analysis means you risk ignoring foreseeable environmental factors. e. It is very easy to use.

d. Relying on statistical analysis means you risk ignoring foreseeable environmental factors.

Alexis is the furniture division sales manager for a textile (cloth) manufacturing company. He has a team of 15 salespeople who call on 200 customers regularly over the course of the year. These customers account for 85% of Alexis companys sales and buy 80% of the textiles used for furniture in this country. Alexis is likely to use the __________ method to forecast demand? Select one: a. Test market b. Market Factor Analysis c. Delphi Method d. Survey of buyer intentions e. Chain ratio

d. Survey of buyer intentions

One of the reasons there is confusion between the marketing plan and the business plan is that Select one: a. For a marketing organization the marketing plan and the business plan may be the same thing. b. The marketing plan is a subset of the business plan c. Most business plans address key marketing issues such as sales and customers. d. These are all reasons why there is confusion between the marketing plan and the business plan for an organization? e. Both the marketing plan and the business plan cover the same ground, but the business plan addresses non-marketing issues as well.

d. These are all reasons why there is confusion between the marketing plan and the business plan for an organization?

When developing contingency plans, the ____________ scenario assumes that everything that could go either right or wrong goes wrong? Select one: a. Least Likely b. Best case c. Book case d. Worst case e. Most likely

d. Worst case

A diagnostic measure? Select one: a. Is a diagnostic tool b. Tells you whether or not the plan is being executed well c. Should only measure things you can control d. Measures intermediate steps that are thought to be necessary to achieving the goal e. A diagnostic measure is all of these things

e. A diagnostic measure is all of these things

Each business will use a different combination of promotional tools. The actual tools selected will depend on? Select one: a. Where you are in the product diffusion process b. Where you are in the product life cycle c. The nature of the product d. How much money you have available for promotion e. Actually, it depends on all of these.

e. Actually, it depends on all of these.

Which of the following forms of promotion gives marketers the greatest degree of control over the message? Select one: a. Personal selling b. Sales promotion c. Word of mouth d. Public relations e. Advertising

e. Advertising

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? Select one: a. To whom should I report these results? b. Was credit given to the appropriate people? c. Will these results survive an audit? d. Did we exceed our budget? e. Are there things we could have done better?

e. Are there things we could have done better?

Which promotional role might be most appropriate for a product in the post-purchase behavior stage of the consumer buying process? Select one: a. Positioning b. Persuade c. Inform d. Remind e. Build Relationships

e. Build Relationships

Which level of the organization is typically responsible for determining the organization's mission and or vision? Select one: a. Business Unit level b. Functional area level c. Marketing department level d. Mezzanine level e. Corporate level

e. Corporate level

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started a business selling music CD's on the internet. This is an example of the ____________ growth strategy? Select one: a. Product development b. Market development c. Differentiation d. Penetration e. Diversification

e. Diversification

The basic communication model describes how a message is transmitted from a sender to a receiver. The only way a sender can know whether the message has been received is through? Select one: a. Field of experience b. Channel of communication c. Noise d. Response e. Feedback

e. Feedback

The PUSH approach to promotion... Select one: a. Focuses on advertising to promote the product b. All of these are elements of the push approach to promotion. c. Focuses on personal selling to promote the product d. Focuses on creating consumer demand for the product. e. Focuses on getting members of the distribution channel to support the product

e. Focuses on getting members of the distribution channel to support the product

Which of the market structures best describes the current market structure of retailing in the United States? Select one: a. Franchised b. Pure monopoly c. Monopolistic competition d. Pure competition e. Highly concentrated

e. Highly concentrated

A market factor...? Select one: a. Is related to demand for your product b. Is something that can be measured c. Can be used for forecasting sales d. Exists in a market e. Is all of these things.

e. Is all of these things.

When it comes to setting budgets, a top-down budget...? Select one: a. Is the best approach to allocating resources. b. Is developed by the managers responsible for implementing the plan. c. Is the most common approach to allocating resources. d. Takes into account the dollars needed to achieve tactical goals e. Is determined at the corporate level

e. Is determined at the corporate level

Which of the following is NOT a characteristic of a good Objective? Select one: a. It includes a definite time-frame b. It is relevant c. It is specific d. It is measurable e. It is adaptable

e. It is adaptable

Contrary to what you would expect, when it comes time to evaluate the results of the plan...? Select one: a. There is no right or wrong approach to planning. b. It is better to fail to achieve a goal and learn an important lesson than it is to be successful. c. It is better to establish the budget before determining the goals in order to keep the plan realistic. d. The longer-range the planning horizon, the more accurate the plan is likely to be. e. It is just as bad to exceed the goal as it is to fail to reach the goal

e. It is just as bad to exceed the goal as it is to fail to reach the goal

Which of the following is NOT an issue in creating a retail store's image in the mind of the consumer? Select one: a. Price b. Presentation c. Promotion d. Personnel e. Logistics

e. Logistics

When developing contingency plans, the ____________ scenario represents your best estimate of what actually will happen? Select one: a. Worst case b. Scripted c. Least Likely d. Best case e. Most likely

e. Most likely

When using a SWOT analysis, a weakness is an issue that is? Select one: a. Positive External b. Negative External c. Positive, opportunity d. Positive, Internal e. Negative, Internal

e. Negative, Internal

BruceCo is a coffee shop selling custom-brewed coffee to walk-in customers. In order to boost sales, Bruce started selling CD's of the music played in the store. This is an example of the ____________ growth strategy? Select one: a. Differentiation b. Penetration c. Diversification d. Market development e. Product development

e. Product development

A marketing organization using (the) _____________ will have a set of marketing functions such as sales, advertising, research, for each product line? Select one: a. Geographic structure b. Matrix structure c. Functional structure d. Market structure e. Product structure

e. Product structure

A(n) ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses? Select one: a. Strategic plan b. Environmental scan c. Marketing audit d. Marketing metric e. SWOT analysis

e. SWOT analysis

When it comes to retail, the price-value heuristic means that when you are in a store that has what you perceive to be high prices; you would expect to receive exceptional ________? Select one: a. Rebates b. Stress c. Costs d. Pressure e. Service

e. Service

BruceCo is a small coffee company. They pride themselves on being friendly. Every employee is trained to greet their regular customers by name and the employee gets a bonus if a customer says something nice about the service. As a result, BruceCo's customers are very loyal. In terms of a SWOT analysis, this would be considered a (n) ________ for BruceCo? Select one: a. Weakness b. Point of difference c. Threat d. Opportunity e. Strength

e. Strength

There are many factors that influence the evolution of retail concepts. Certainly in the past few years, ____________, especially the widespread diffusion of the Internet has had a huge impact on the retail landscape? Select one: a. Demographics b. New product development c. Localization d. Transfer of ideas across borders e. Technology

e. Technology

An outcome measure? Select one: a. Tells you whether or not the plan is being executed well b. An outcome measure is all of these things c. Is a diagnostic tool d. Measures intermediate steps that are thought to be necessary to achieving the goal e. Tells you whether or not you achieved your goal

e. Tells you whether or not you achieved your goal

BruceCo planned to introduce a new line of herbal coffees in its coffee shops. Using the chain ratio method, they estimated they would have 300 people walk through the door every day and that 1/3 of these people would notice a sign advertising the new coffee and ask about it. If the price were the same as its regular coffee, they estimated half of the people would try the new blend. If the price were higher than the regular coffee, they estimated only one out of 10 would request the new blend. The goal was to sell 50 cups of the new blend each day. Which of the following would be a diagnostic measure associated with the plan? Select one: a. The number of people who don't buy any coffee at all. b. The number of cups of the new blend sold each day. c. All of these are diagnostic measures for this plan. d. The price of the regular blend of coffee e. The number of people who walked through the store each day

e. The number of people who walked through the store each day

Which theory of retail evolution proposes that retail stores become successful and upgrade their product lines (and prices) it creates an opportunity for a new, low cost retail form to enter the market? Select one: a. The channel flows concept b. The fundamental attribution error c. Disintermediation d. The retail life cycle e. The wheel of retailing

e. The wheel of retailing

When we say a measure is __________ we mean that results can be determined soon enough to use the feedback in improving performance? Select one: a. Objective b. Adaptable c. Relevant d. Quantifiable e. Timely

e. Timely

Santa Claus is trying to forecast demand for coal this Christmas. For the past 300 years, the number of naughty children (who will get coal in their stockings) has increased by 3% each year. Santa is likely to use the ____________ method to forecast demand. Select one: a. Market Factor Analysis b. Lost elf method c. Sales force survey d. Chain ratio e. Trend analysis

e. Trend analysis

The PULL approach to promotion...

focuses on creating consumer demand for the product

An advertisement for Wishbone Salad Spritzers demonstrates that you can spray salad dressing on your salad and tells you there is only one calorie per squirt. The objective of this product ad is probably

informing

is a function of the social, financial and safety risk associated with a purchase decision.

involvement

Unlike personal selling, advertising is

mass communications

A marketing channel always includes?

producer

is all of the communication to support the marketing program

promotion

Merchandise assortments can be described in terms of breadth and depth. How would you classify Home depot a large retailer that carries hundreds of fasteners such as nails and screws, as well as lines of lumber, paint, plants, tools, and appliances?

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