Marketing CH 9,12,13,15,16
The total market demand for toys in Springfield is 100,000 units. A company manufacturing toys has a variable cost is $10 per toy. Selling price is $18 per toy and Company Fixed cost is $160,000. Calculate the break Even Volume it should obtain to reach a target profit of $200,000. 25% 35% 40% 45% None of the above
45%
Which of the following is true about joint venturing? Management contracting is highly risky for the domestic firm. Contract manufacturing gives significant control to the domestic firm. Licensing is a highly complex method for entering global markets. A host country partner is necessary for selling or marketing products. Companies are required to invest in the construction of foreign-based facilities
A host country partner is necessary for selling or marketing products.
Which of the following statements is true of a product sales-force structure? A product sales-force structure is characterized by specialization along product lines. A product sales-force structure is used when a company has only one product line. A product sales-force structure requires every salesperson to be an expert in all the product categories of the company. A product sales-force structure organizes the sales force along customer or industry lines. A product sales-force structure uses a single sales force across different product lines.
A product sales-force structure is characterized by specialization along product lines.
Which of the following is most likely a difference between advertising and sales promotions? Advertising is a sales-directed form of communication, while sales promotions are endorsed as company news. Advertising is an invitation to buy the product, while a sales promotion is an incentive to buy the product immediately. Advertising can be used to dramatize product offers, but sales promotion cannot be used for this purpose. Advertising can trigger quick sales, while sales promotions cannot.
Advertising is an invitation to buy the product, while a sales promotion is an incentive to buy the product immediately.
Which of the following is true of marketing through blogs? Starting and maintaining blogs is expensive. Blogs are a form of traditional direct marketing. Blogs are typically used to provide automated responses to consumer conversations. Companies should not monitor blogs if they want to reach customers effectively. Blogs are an inexpensive yet personal way to connect with consumers.
Blogs are an inexpensive yet personal way to connect with consumers.
________ advertising would most likely result in advertising wars between competitors. Reminder Comparative Personal Informative Classified
Comparative
________ is a method of going global in which a company makes agreements with producers in the foreign market to produce its product or provide its service. Contract manufacturing Direct investment Acquisition Exporting Management contracting
Contract manufacturing
________ involves thinking ahead to create products that are easier to recover, reuse, recycle, or safely return to nature after usage, thus becoming part of the ecological cycle. Answers: Consumerism Design for environment Beyond greening Pollution control Pollution prevention
Design for environment
________ consists of connecting directly with carefully targeted consumers, often on a one-to-one, interactive basis. Undifferentiated marketing Mass marketing Direct marketing Internal marketing Standardized marketing
Direct marketing
Which of the following is a characteristic of an inside sales force? It travels to make sales calls on customers in the field. It receives administrative backup from outside sales forces. It cannot sell or service accounts directly. It eliminates the need to have an outside sales force. It conducts business from an office via telephone.
It conducts business from an office via telephone.
Which of the following is most likely true about e-mail marketing? It cannot be personalized to meet individual consumers. It is a traditional form of direct marketing. It is restricted to the use of personal computers. It is used by marketers to send highly targeted messages. It is always non-intrusive in nature due to spam filters.
It is used by marketers to send highly targeted messages.
Which of the following is true of the World Trade Organization (WTO)? It was replaced by the GATT in 1995. It increases tariffs and other international trade barriers. It lacks the power to impose international trade sanctions. It restricts the maximum number of member nations to 100. It mediates global trade disputes.
It mediates global trade disputes.
Which of the following is a shortcoming of advertising? It does not allow dramatization of the brand or company. It only provides one-way communication with customers. It is too customized and only attracts small, niche markets. It reaches targeted customers too slowly in most cases. It is the most costly promotion tool for companies.
It only provides one-way communication with customers.
Which statement is most likely true about the affordable method of setting an advertising budget? It typically overlooks how promotion affects sales. It always results in overspending on advertising. It is especially ideal for long-range market planning. It leads to an overly fixed annual promotion budget. It is most often used by firms with large advertising budgets.
It typically overlooks how promotion affects sales.
Which of the following is an advantage of management contracting? It involves the least change in a company's product lines. It allows a contracting firm to set up its own operations at the beginning of the contract. It is the simplest way to enter a foreign market. It yields income from the beginning of the contract. It gives a contracting firm an option to buy shares in the managed company immediately.
It yields income from the beginning of the contract.
Which of the following is a primary disadvantage of viral marketing? The costs of viral marketing are generally too high for most companies. The brand associated with the viral message is usually forgotten. Marketers have little control over who receives a viral message. Viral messages are less likely to be viewed than other types of online promotions. Viral messages are blocked by most search engines.
Marketers have little control over who receives a viral message.
Which of the following established a free trade zone between the United States, Mexico, and Canada? Union of South American Nations European Union North American Free Trade Agreement Central American Free Trade Agreement Latin American Free Trade Association
North American Free Trade Agreement
________ are the standards stating the amount salespersons should sell and how sales should be divided among the company's products. Sales promotions Sales quotas Display allowances Time-and-duty analyses Sales reports
Sales quotas
Which of the following is true of joint ownership? The domestic firm exports management services rather than products. Foreign investors gain complete possession and control over the local firm. The arrangement is mandatory for businesses to enter some foreign markets. A domestic company seldom needs a host country partner to enter into the market. The domestic company loses its title of ownership to foreign investors in the arrangement.
The arrangement is mandatory for businesses to enter some foreign markets.
Which of the following is a drawback of using blogs as a marketing medium? Advertising on a blog is typically very expensive. It is difficult to use blogs to reach highly targeted audiences. The content of a blog is difficult to control. A company cannot have more than one blog. Blogs do not provide the kind of personalized medium that today's marketers want.
The content of a blog is difficult to control.
Which of the following is a disadvantage of licensing? The licensing company gains entry into a foreign market at a high risk. It takes a lot of time for the licensee to gain production expertise and name. Licensing is a complex way for a manufacturer to enter international marketing. The licensor potentially creates a competitor in the form of the licensee. The licensee is restricted from gaining knowledge about the licensor's intellectual property.
The licensor potentially creates a competitor in the form of the licensee.
Which of the following conditions is most likely essential for implementing a successful market-penetration pricing strategy for a product? The product's quality supports its high price. Alternative products can enter the market easily. The market for the product is highly price sensitive. Prices increase incrementally as sales volume increases. Production costs rise with an increase in marketing efforts.
The market for the product is highly price sensitive.
Which of the following is most likely true of a sales force? The performance difference between an average salesperson and a top salesperson is generally substantial. The cost of replacing a salesperson is usually low because minimal training is necessary. A sales force with many new people is typically more productive than one whose members have been around for a long time. Individuals within a sales force generally perform at the same level of efficiency. On-site sales training is more efficient and less costly than e-learning programs.
The performance difference between an average salesperson and a top salesperson is generally substantial.
Which of the following conditions is most likely essential for implementing a successful market-skimming pricing strategy for a product? The product's quality and image support its high price. Lower-priced alternatives can enter the market easily. Low prices promote more market growth than high prices. The product's price matches its manufacturing costs. A low-price position of the product is maintained.
The product's quality and image support its high price.
Which of the following is a disadvantage of using social media for marketing? They are impersonal. They primarily provide static content. They do not provide information in a timely manner. They provide lower returns than television. They are largely user controlled.
They are largely user controlled.
Which of the following is most likely true of branded community Web sites? They provide engaging content. They offer little information about the brand. They contain interactive selling features. They mostly contain static content. They contain heavy pop-up ads of a firm's products.
They provide engaging content.
Which of the following statements is true of salespeople? They do not work with wholesalers and retailers. They are employed mostly in click-only companies. They do not represent the customers to the company. They represent a company to its customers by communicating and selling. They represent a new class of professionals who have emerged as part of the steep rise in retailing.
They represent a company to its customers by communicating and selling.
In which of the following cases is a firm employing multichannel marketing? E-tailers such as Hammon.com market their products through a strong online presence. Wingate Retail sells its products through e-tailers and hundreds of physical superstores. Russel Stores' sales operations are based on heavy outbound telephone marketing. Lues Wholesalers markets its products to retailers through personal selling. Local convenience stores promote products through word-of-mouth marketing.
Wingate Retail sells its products through e-tailers and hundreds of physical superstores.
Elise Philips, a leading fashion designer, connects with her followers through a strong online presence, promoting her brand and discussing fashion tips through articles and videos on her personal fan page. In this case, which of the following marketing forms does Elise use? direct e-mail a catalog a search engine a spambot a blog
a blog
Which of the following is an example of a combination of sales promotions and direct marketing? a company giving discounts on their product prices in order to gain a brand image a company releasing a nationwide television ad about every buyer having a chance to win a lottery prize a company holding a press conference to talk about their new product a company's sales representatives meeting customers directly to present customized offerings a company sending an e-mail to a customer about a discount on a product during a holiday season
a company sending an e-mail to a customer about a discount on a product during a holiday season
Remington Motors releases a new line of hybrid electric vehicles called Electra. The line promises superior mileage and excellent horsepower in an environmentally friendly automobile. Remington decides to use advertising as the promotional tool for the car's launch. Which of the following would qualify as an advertisement for Electra? a front-page notice of the release of Electra in all leading newspapers with the caption "Green Speed" a press conference to discuss the various safety issues, actual mileage, and environmental features of Electra the use of dedicated sales personnel in dealer showrooms to explain the qualities of Electra to potential customers the involvement of a celebrity at the launch of Electra to endorse the hybrid car a buyers-only lottery where Electra buyers have a chance of winning a prize
a front-page notice of the release of Electra in all leading newspapers with the caption "Green Speed"
Koffee, a brand of instant coffee, gives away a free coffee mug with its logo imprinted on it with every purchase of a 500g packet of its instant coffee powder. Which promotion tool is Koffee using? coupons price packs samples advertising specialties rebates
advertising specialties
Sheldon Parks works as a salesperson in a large company that sells vending machines and beverages like coffee, tea, and hot chocolate. He meets Rosa Thoms, a potential client who heads the administration department of a large MNC, and speaks to her at length to determine the kind of vending machine and beverages her company would need. After understanding the specifications, he provides her team of employees with samples to obtain their feedback. At which step of the selling process is Sheldon in the above scenario? approach preapproach qualifying prospecting closing
approach
Setting a price for products that must be used along with a main product is known as ________ pricing. by-product market-penetration product line product bundle captive-product
captive-product
In which of the following steps of the selling process does a salesperson ask a buyer for an order? preapproach qualifying closing prospecting approach
closing
When companies fully adapt their advertising messages to local markets, they follow a strategy of ________. communication extension product invention communication adaptation straight product extension product adaptation
communication adaptation
Critics claim that companies in the ________ industry are more likely to introduce planned streams of new products that make older models obsolete. Answers: automotive housing food and beverage consumer electronics music
consumer electronics
Which of the following sets the upper limit for a product's pricing? profits product costs consumer perceptions of value elements of the product mix competition
consumer perceptions of value
Ingenious Group views and organizes its marketing activities from the viewpoint of its buyers. Management works hard to sense, serve, and satisfy the needs of its well-defined group of buyers. Which of the following does Ingenious Group most likely practice? Answers: consumer-oriented marketing societal marketing sense-of-mission marketing affiliate marketing innovative marketing
consumer-oriented marketing
Every time a search is made using keywords related to construction, search engines display text-based advertisements and links to Regan Builders, a construction firm. The marketing tool used by Regan Builders is best referred to as a ________. display advertisement contextual advertisement digital catalog community Web site Web blog
contextual advertisement
Which of the following is the largest form of online advertising? contextual advertisements display advertisements digital catalogs community Web sites blog posts
contextual advertisements
Jeff Barkins is a conscientious marketing manager. Sometimes, Jeff and his staff are unclear what decisions to make when faced with moral dilemmas. Jeff and other managers could create broad guidelines that everyone in the organization must follow in the form of a ________. business value statement company mission statement company vision statement corporate marketing ethics policy financial statement
corporate marketing ethics policy
A company designs what it considers to be a good product, calculates the expenses of making the product, and sets a price that adds a standard markup to the cost of the product. This approach to pricing is called ________ pricing. value-added good-value cost-plus competitor-based break-even
cost-plus
Which of the following is the primary purpose of branded community Web sites? displaying digital catalogues providing detailed descriptions of products creating customer-product engagement selling products and services sending direct mails to consumers
creating customer-product engagement
Jeremy Clarkson, a marketing critic, is concerned about the pervasiveness of marketing. He points to advertising messages everywhere, from Web sites and e-mails to unwanted direct mail and catalogs to television commercials and product tie-ins to billboards and store signs. From the description given, it can be concluded that Jeremy is concerned about ________. Answers: high promotion costs cultural pollution deceptive practices false wants and too much materialism the balance between private goods and social goods
cultural pollution
Which sustainable marketing principle emphasizes building long-run consumer loyalty and relationships? Answers: sense-of-mission marketing innovative marketing customer value marketing consumerist marketing differential marketing
customer value marketing
Metro Museum has different admission prices for students, adults, and seniors. All three groups are entitled to the same services. This form of pricing is called ________ pricing. time-based location-based customer-segment by-product product form
customer-segment
Which of the following is the best example of a salutary product? Answers: cereal cigarettes bottled water junk food dental insurance
dental insurance dental insurance is a salutary product. A salutary product is one that has low immediate appeal but provides benefits in the long run (such as bicycle helmets, insurance, etc.). (page 515)
Maytag's front-loading Neptune washer comes in attractive designs and also guarantees quick cleaning and high energy efficiency. The Neptune washer is most likely an example of a ________ product. deficient pleasing salutary desirable disposable
desirable
Botsford, a U.S. firm, builds automotive transmissions in its manufacturing facility in Taiwan to capitalize on the availability of cheap labor. Botsford's involvement in foreign markets is most likely through ________. joint ownership direct investment management contracting contract manufacturing indirect exporting
direct investment
Dazed is a bar which mostly plays trance music and has a dedicated day every week for local bands to perform. To build strong customer relations, Dazed sends text messages to customers, telling them about happy hours, bands playing that week, dedicated genre nights, and other activities. Which of the following promotion mix tools does Dazed employ to reach target customers in this scenario? public relations personal selling direct marketing crowdcasting retailing
direct marketing
Which of the following is the fastest-growing form of marketing? direct marketing undifferentiated marketing internal marketing mass marketing standardized marketing
direct marketing
Eric Dylan is the marketing director of a charity that raises funds to help provide educational services to children and families in developing countries. Eric targets a selective market of individuals who have recently donated to international charities by sending letters with charity information and donation instructions. Eric uses ________ in this scenario. direct-mail marketing mass marketing telephone marketing digital marketing kiosk marketing
direct-mail marketing
Chef Brown's Health Food Store sells nutritional, energy-producing foods. Product prices are adjusted frequently to meet the needs of individual customers and situations. For example, long-time customers receive discounts. This strategy is most likely an example of ________ pricing. zone competition-based dynamic basing-point penetration
dynamic
AirNetwork, a telecommunications company, sponsors a rock concert by a famous band in order to further its brand visibility. This is an example of a(n) ________. event marketing program premium point-of-purchase promotion trade promotion
event marketing program
ABM Connect is one of the largest Internet service providers in India. The company's salespersons regularly contact buyers to make sure that the installation and services have been properly executed. Which of the following steps of the selling process does this scenario depict? approach presentation closing follow-up preapproach
follow-up
ColaBlue, a soft drink manufacturer, is sued by an environmental group for not meeting certain safety standards in its waste disposal. ColaBlue remedies the problem by adding higher-grade filters and purifiers. Which of the following actions by ColaBlue would constitute a public-relations effort to address the effects of the lawsuit and the consequent damage to its brand image? having well-trained personnel at retail outlets to explain the different ranges of products the company provides tying up with local restaurants to promote exclusive sales of ColaBlue soft drinks lowering prices of ColaBlue's products in the short term holding a press conference to explain the remedial steps that ColaBlue has taken making new advertisements for ColaBlue products and sponsoring shows on television
holding a press conference to explain the remedial steps that ColaBlue has taken
Valdo, a cosmetic firm located in the United States, markets its products in Asian and European countries through independent distributors. In this case, Valdo has entered international markets through ________. joint ownership joint venturing indirect exporting direct investment franchising
indirect exporting
Japan is a major exporter of manufactured goods, services, and investment funds. Japan also exports its goods to other types of economies for raw materials and semifinished goods. The country's industrial structure is referred to as a(n) ________ economy. agricultural emerging industrial raw material exporting subsistence
industrial
Controlling the ingredients that go into certain products and reducing the level of advertising "noise" are part of proposals relating to the consumer's right to ________. Answers: not buy a product that is offered for sale expect a product to perform as claimed be well informed about important aspects of the product be protected against questionable products, promotions, and marketing practices influence marketing practices in ways that will improve quality of life
influence marketing practices in ways that will improve quality of life
Haynes, a manufacturer of consumer electronics, created a 30-minute program describing the various ways in which its products could be used and aired the program on television with a toll-free number that interested consumers could call. In this case, Haynes' program is referred to as a(n) ________. virtual world infomercial viral video podcast e-catalog
infomercial
Inglast, a chocolate producer, is faced with a class action suit when customers find pieces of plastic in boxes of cocoa powder. Inglast settles the case and then releases an advertising campaign to show the new and improved safety seals on all containers of cocoa powder. Which kind of advertisement has Inglast most likely used? classified informative comparative personalized reminder
informative
Zephyr Inc., an electronics manufacturer, wants to enter the commercial tracking device market with its latest product, FindIt. Unlike other tracking devices, FindIt is very small and relatively cheap, but it can be used only within small areas as it has a low detection-range. Which type of advertising would be best for FindIt? informative advertising reminder advertising classified advertising comparative advertising personalized advertising
informative advertising
Lemon N' Honey is a juice manufacturing company in the United States. It exports its products to Australia, licenses to China, has a joint ownership venture in France, and owns a subsidiary in Brazil. The firm will most likely need to create a(n) ________ to handle all its worldwide activities. international division domestic market value delivery network export department domestic division
international division
Kimlee, a food manufacturer based in China, recognizes the immense demand for noodles in the Australian market. Kimlee forms a new business venture to manufacture instant noodles and decides to share possession and control of the new business with a local food processing company. In this case, Kimlee has entered a foreign market through ________. licensing contract manufacturing direct investment joint ownership management contracting
joint ownership
Montano Boutiques promotes its brand in new international markets by providing rights to local boutiques to use its patented designs and brand name. In this case, Montano Boutiques' market-entering strategy is referred to as ________. licensing exporting joint ownership contract manufacturing management contracting
licensing
Trainstar, a sportswear equipment manufacturer, releases a new line of energy drinks called VitaZing. The television ad for the energy drink shows people jogging, working out in a gym, and doing aerobics. The actors then take a break to drink VitaZing, which visibly re-energizes them and leads them to continue exercising. Which advertising style is most likely used in the VitaZing ad? scientific evidence technical expertise personality symbol testimonial evidence lifestyle
lifestyle
Busch Stadium in St. Louis charges different prices for seats in different areas of the ball park, even though each seat costs the same for the owners of the stadium. What is this form of pricing called? location-based pricing market-skimming pricing product-form pricing time-based pricing market-penetration pricing
location-based pricing
Pizzaria, a renowned restaurant in Italy, enters into an agreement with Ruth's Pizza House in the United States to operate a chain of restaurants. Ruth's will provide capital for running the chain and Pizzaria will contribute its world-renowned expertise on consumer tastes. In this case, Pizzaria enters a foreign market through ________. contract manufacturing management contracting licensing joint ownership direct investment
management contracting
Qriosity Inc. released a new antivirus program at half-price to attract buyers. This is most likely an example of ________. market-skimming pricing market-penetration pricing optional-product pricing by-product pricing allowance pricing
market-penetration pricing
A firm uses ________ when it charges a high, premium price for a new product with the intention of reducing the price in the future. market-skimming pricing target costing deceptive pricing market-penetration pricing predatory pricing
market-skimming pricing
Corell Inc. has an online tool that offers a wide variety of Corell shoes for direct purchase. The tool even allows customers to individually design their shoes. Which of the following has Corell most likely used? phishing site online forum Web blog community Web site marketing Web site
marketing Web site
The Sherman Act, Clayton Act, and Robinson-Patman Act are all federal laws that were initially adopted to curb the formation of ________. monopolies oligopolies competitive markets international markets limited partnerships
monopolies
Glenda is searching airline schedules on HolApp, a mobile Web application. While browsing the application, a banner appears on the mobile screen showcasing offers and discounts on air tickets. The banner is best referred to as a(n) ________. online display advertisement contextual advertisement infomercial phishing scam advertorial
online display advertisement
Trendy Teens manufactures fashionable clothing and accessories for the tween and teen female markets. New merchandise with a very different look is rolled out each season and heavily promoted as the "must-have" style in a variety of media. For which of the following could Trendy Teens be easily criticized in this scenario? Answers: deceptive promotion redlining high-pressure selling planned obsolescence perceived obsolescence
perceived obsolescence
Tilt Entertainment, a gaming design firm, has developed a new game called World Below. In order to get wider distribution, Tilt participates in the Gaming Entertainment Expo, which is attended by both sellers and consumers. Tilt sends a team of representatives for game presentation and negotiation and a team of professional gamers to showcase World Below at the Expo. The company also sends a team to sell its other games to consumers at the Expo. Which promotion mix tool has Tilt used in this scenario? crowdsourcing public relations advertising personal selling crowdcasting
personal selling
What is the primary goal of trade promotions? boosting long-term relationships with final buyers motivating salespeople to attend trade shows generating qualified business leads and contacts rewarding customers for frequent purchases persuading resellers to carry a brand
persuading resellers to carry a brand
Which term refers to the fixed amount in a salesperson's compensation? bonus commission salary incentive profit-sharing plan
salary
Fox Scully received an e-mail promoting a new financial services institution that offers surprisingly low mortgage rates. The e-mail asked customers to provide their address, date of birth, Social Security number, and current mortgage information in order to receive a free loan quote. Suspicious of the offer, Fox researched the company and discovered that the e-mail was fraudulent. This is an example of ________. cold calling phishing crowdsourcing data mining viral marketing
phishing
Beverages that are high in sugar are called ________ products. Answers: deficient pleasing salutary desirable salubrious
pleasing
Products that give high immediate satisfaction but may hurt consumers in the long run are called ________ products. deficient pleasing salutary desirable threatening
pleasing
Cream Bay has come out with a new range of ice creams. To promote the new products, Cream Bay has set up shopping mall kiosks to offer free ice cream samples to potential customers. Which promotion tool is Cream Bay most likely using? rebates price packs point-of-purchase promotions coupons advertising specialties
point-of-purchase promotions
Penny Bank, a discount store, is highly competitive. When entering a new market, Penny Bank often cuts prices so deeply that it sells below costs, effectively pushing smaller retail stores with less purchasing power out of the market. In this case, Penny Bank is using ________. market skimming psychological pricing predatory pricing deceptive pricing cost-plus pricing
predatory pricing
Howard Genks works as a sales representative for Med-Tex, a firm that manufactures hospital supplies. Recently, a prospective buyer walked into the Med-Tex store seeking beds for the children's ward in his private clinic. Howard quickly showed the client the range of beds available that were designed specifically for children. In which of the following steps of the selling process was Howard? prospecting qualifying follow-up handling objections presentation and demonstration
presentation and demonstration
Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that consumers in the Middle East prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet the local requirements. In this scenario, Kola is using a(n) ________ strategy to market its product. communication adaptation undifferentiated marketing straight product extension product invention product adaptation
product adaptation
Easy Life manufactures a wide range of kitchen appliances, healthcare products, and cosmetics. Its salespeople are divided on the basis of their expertise in a product category. Again, within each category, they are divided into teams addressing large retail customers, convenience stores, and the general public. Which of the following sales-force structures has most likely been combined to form this complex sales-force structure? territorial and market product and market product and territorial geographical and product market and customer
product and market
Which of the following sets the lower limit for a product's pricing? product costs- cost of producing the product Variable cost competition elements of the product mix consumer perceptions of value
product costs- cost of producing the product
NerdHerd Electronics sells three different sizes of televisions at three different prices. In this case, the company's pricing strategy is referred to as ________ pricing. product line optional-product by-product product bundle captive-product
product line
Lazer Telecom, a cell phone manufacturer, has signed a contract with a production house to fund a new movie. The conditions of the agreement state that the movie will feature Lazer Telecom phones onscreen. What kind of advertising technique has Lazer Telecom most likely adopted in this example? geofencing advertainment product placement vertical integration subliminal advertising
product placement
Qtopia Inc. is currently designing a new product line with the goal of making each product easy to recover, reuse, or recycle. Qtopia Inc. plans to recover many of these products when they reach the end of their life cycle and reuse components in new products. In this case, Qtopia Inc. is demonstrating ________. Answers: pollution prevention pollution control product stewardship the marketing concept the selling concept
product stewardship
What are deficient products? products that have neither immediate appeal nor long-run benefits products that give high immediate satisfaction but hurt consumers in the long run products that have low appeal but may benefit consumers in the long run products that are either unsafe or inferior products in the decline stage of the product life cycle
products that have neither immediate appeal nor long-run benefits
What type of pricing is being used when a company temporarily prices its products below the list price to create buying excitement and urgency? segmented pricing psychological pricing geographical pricing promotional pricing dynamic pricing
promotional pricing
Robert Solis is a salesman in a company that specializes in event management. He uses the Internet to identify potential companies with which his company can build long-term profitable relationships. Which step in the selling process does this scenario depict? demonstration preapproach prospecting approach presentation
prospecting
What is the first step in the selling process? approach prospecting demonstration handling objections sales presentation
prospecting
The purpose of a quota is to ________. protect local employment provide competition to local industry eliminate trade barriers between nations increase the amount of foreign imports increase the amount of foreign exchange
protect local employment
Pearl Sands is a resort in the town of Willington. It attracts the maximum number of customers in the summer. In the spring, Pearl Sands sponsors shows on TV and puts up billboards in Willington and the surrounding towns. The billboards advertise Pearl Sands as an ideal holiday spot, whether for a weekend getaway in the summer heat or for a family vacation. This is an example of a ________ strategy. push vertical integration pull publish-subscribe direct marketing
pull
There are more than 20 stores on a street in Sao Paulo that specialize in selling the same quality and brand of wheat products. An individual seller cannot charge more than the going market price without the risk of losing business to the other stores. What type of market does this example represent? pure competition monopolistic competition oligopolistic competition a pure monopoly a black market
pure competition
A country in South America has large reserves of copper and tin. Mining forms the pillar of its economy. A major part of its revenue is generated from exporting these resources. This country is poor in many other ways. It is a good market for large equipment, tools, supplies, and trucks. Since there are many foreign residents in this country and a wealthy upper class, it is also a market for luxury goods. This country most likely has a(n) ________ economy. subsistence raw material exporting emerging developed industrial
raw material exporting
When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are accused of the discriminatory practice of ________. Answers: perceived obsolescence reverse redlining redlining puffery planned obsolescence
redlining
Mercury Electric, a leading manufacturer of kitchen appliances, releases a new line of blenders called SpinPro. To boost sales, Mercury Electric gives scratch-and-win coupons to all buyers and provides a three-day trip to Hawaii for the winner. Which element of the promotion mix has Mercury Electric used in this scenario? public relations crowdsourcing advertising sales promotion personal selling
sales promotion
Fruity Loop, a leading manufacturer of fruit-juices, introduces a new range of potato chips. To promote this new product, it offers a packet of potato chips free with every bottle of Fruity Loop juice. Which of the following promotion tools is Fruity Loop using in this case? rebates samples coupons advertising specialties price packs
samples
Innovative marketing most likely involves ________. Answers: protecting the natural environment considering the consumer's point of view seeking real product and marketing improvements defining goals in broad social terms rather than narrow product terms placing an emphasis on increasing short-run sales rather than long-term value
seeking real product and marketing improvements
Lakeland Inc. employees get 40 hours paid leave each year to pursue volunteer projects. The company runs a service day that hosts projects in 25 countries, and it supports a nonprofit that brings young people into public service for a year. Lakeland could be most accurately described as practicing ________ marketing. Answers: affiliate undifferentiated differentiated innovative sense-of-mission
sense-of-mission
Which of the following is the first step in developing an advertising program? setting the advertising budget developing an advertising strategy developing a brand message setting advertising objectives evaluating advertising campaigns
setting advertising objectives
Which of the following is an example of narrowcasting using advertisements? running an ad for a new line of cars on cable TV showing ads for diapers to would-be mothers in hospitals handing out promotional leaflets for a new restaurant to passers-by showing video game ads at a college football game uploading movie ads on Web sites like YouTube
showing ads for diapers to would-be mothers in hospitals
The ________ style of advertising shows ordinary people clearly using a product in a normal setting. personality symbol slice of life mood or image testimonial evidence technical expertise
slice of life
Carboi is a company that offers consumers the opportunity to buy carbon offsets, which are contributions to projects that combat global warming by reducing carbon emissions. Carboi offers contribution packages for driving, flying, and home energy use. Through Carboi, consumers can pay some of the ________ costs of their private goods and services. Answers: promotional safety recovery distribution social
social
When a company makes marketing decisions by considering consumers' wants and interests, the company's requirements, and society's long-run interests, it is most likely practicing ________ marketing. value societal sense-of-mission consumer-oriented customer value
societal
Which type of economy consists mostly of households with very low family incomes? post-industrial developed emerging industrial subsistence
subsistence
Loretta Inc., a U.S.-based watch manufacturer, sells its products in France, China, Russia, and India. To manage sales, Loretta appoints a number of sales representatives to each location. Sales representatives report to area managers, and area managers coordinate sales in their respective areas before reporting to regional managers. Loretta has most likely adopted a ________ sales-force structure. customer product complex distributor territorial
territorial
An ad that shows real-life examples of people whose lives have changed due to a product is an example of the ________ style of advertising. scientific evidence testimonial evidence technical expertise mood or image fantasy
testimonial evidence
In the competitive-parity method of setting an advertising budget, the budget is set based on ________. a percentage of future sales the total revenues that a company makes the amount spent by similar companies in the same industry objectives set by the company and the cost required to accomplish them a percentage of current sales
the amount spent by similar companies in the same industry
Which of the following is a traditional right of sellers? Answers: the right to introduce any product in any size and style, provided it is not hazardous to personal health or safety the right to expect a product to be safe the right to expect a product to perform as claimed the right to consume now in a way that will preserve and sustain the world for future generations of consumers the right to be well informed about important aspects of a product
the right to introduce any product in any size and style, provided it is not hazardous to personal health or safety
Vac "N" Sew, a consumer electronics outlet, offers a price reduction of $100 when customers bring in a used vacuum cleaner and exchange it for a new vacuum cleaner or sewing machine. This is an example of a ________. functional discount cash discount seasonal discount trade-in allowance by-product allowance
trade-in allowance
The difference between an inside sales force and an outside sales force is that an outside sales force ________. acquires more decision-maker contacts each day consists mostly of telemarketers and Internet sellers conducts business from headquarters via telephone spends less money to reach and support customers travels frequently to call on customers in the field
travels frequently to call on customers in the field
Netcorp, an Internet service provider, charges its users a fixed rental fee for its basic package, which has a download limit. If a user exceeds this download limit, an additional fee is charged for every download. In this case, the firm's pricing strategy is referred to as ________ pricing. by-product two-part optional-product segmented promotional
two-part
The growth of the Internet caused many traditional companies to ________ in response to customer demands and a changing marketplace. use traditional direct marketing forms adopt direct-mail marketing use multichannel marketing develop retail transaction sites expand their outside sales forces
use multichannel marketing
Clenzo is a company that provides house cleaning services in major urban and suburban areas. Marketers at Clenzo developed a short, humorous video promoting the company's services and hope that customers who see the video will be so entertained that they will pass the video on to their friends and colleagues. The marketers at Clenzo are using techniques to facilitate ________. direct-mail marketing viral marketing catalog marketing contextual advertising display advertising
viral marketing
Computer Works is a computer accessories manufacturer based in Brazil. All customers in South America pay the same freight charge, $20, when they order products from the company. All customers in North America pay a freight charge of $50. The company's pricing strategy is referred to as ________ pricing. basing-point FOB-origin freight-absorption zone uniform-delivered
zone