MKT 220 Final Review

Which category of income are marketers most interested in? a. Discretionary income b. Extra income c. Wealth d. Total income e. Disposable income

e. Disposable income

Instead of addressing the question ____, many environmentalists and marketers believe the question should be ____. a. "What should we do with our waste?"; "How can we produce products without waste?" b. "How can we make products better?"; "How can we reduce waste?" c. "Where should we dispose of waste?"; "How can we protect society?" d. "How can we reduce costs?"; "How can we keep prices low?" e. "How can environmentalism be profitable?"; "Where is the benefit of environmental efforts?"

a. "What should we do with our waste?"; "How can we produce products without waste?"

Approximately ____ of the world's purchasing power is outside of the United States. a. 2/3 b. 9/10 c. 1/3 d. 1/10 e. 1/2

a. 2/3

Approximately what percentage of civilian workers in the United States performs marketing activities? a. 25 to 33 percent b. 42 to 50 percent c. 10 to 20 percent d. 81 to 92 percent e. 64 to 76 percent

a. 25 to 33 percent

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are a. African-Americans, Hispanics, and Caucasians. b. Asians, African-Americans, and Hispanics. c. Asians, African-Americans, and Caucasians. d. Hispanics, Native-American Indians, and Caucasians. e. African-Americans, Native American Indians, and Caucasians.

a. African-Americans, Hispanics, and Caucasians.

Why are marketers interested in consumers' levels of disposable income? a. It is a ready source of buying power. b. It is essential for forecasting future business trends. c. It accurately predicts future buying power. d. It increases current buying power. e. It is what is left after taxes and savings to buy luxuries with.

a. It is a ready source of buying power.

Which of the following actions is illegal? a. Paying political officials not to enforce a particular law. b. Corporate contributions to elected officials. c. Political officials helping businesses secure foreign markets. d. Political officials influencing how much a government agency purchases and from whom. e. Corporate contributions to candidates.

a. Paying political officials not to enforce a particular law.

What is the overall role of promotion? a. To stimulate product demand b. To identify prospects c. To reduce sales fluctuations d. To retain loyal customers e. To encourage product trial

a. To stimulate product demand

A product mix is best described as a. all products offered by a firm. b. all products of a particular type. c. many products sold by one firm. d. product, distribution, promotion, and price. e. a group of closely related products that are considered a unit because of market, technical, or end-use considerations.

a. all products offered by a firm.

According to the text, a product is defined as a. anything the customer receives in an exchange. b. the service that is rendered to a customer. c. the physical object the customer receives in an exchange. d. goods and services the customer receives in an exchange. e. the idea that the customer receives in an exchange.

a. anything the customer receives in an exchange.

All packaging must at a minimum a. comply with the FDA's packaging regulations. b. be tamper-proof and safe for children. c. clearly communicate the contents and the product's benefits. d. protect and preserve the contents in the package. e. be made out of the most cost-effective materials available.

a. comply with the FDA's packaging regulations.

Carlos generally makes cold calls on businesses to look for new prospects. He has many satisfied customers, but like many salespeople, he does not frequently utilize one of the best ways to find new prospects, which is through a. customer referrals. b. trade shows. c. past sales. d. other employees. e. friends and coworkers.

a. customer referrals.

ssues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix. a. distribution b. price c. promotion d. exchange e. product

a. distribution

Consumerism is a a. diverse group of individuals and organizations attempting to protect the rights of consumers. b. diverse group of individuals and organizations opposed to foreign producers that sell products in the United States that are much cheaper than those produced by U.S. manufacturers. c. social movement that provides consumers with means for expressing satisfaction and expressing their gratitude to producers. d. social movement that is reorganizing the Council of Better Business Bureaus. e. social movement that is trying to encourage consumer satisfaction.

a. diverse group of individuals and organizations attempting to protect the rights of consumers.

Aggressive pricing is typical during the ____ stage of the product life cycle. a. growth b. stabilization c. plateau d. decline e. introduction

a. growth

Todd is developing a print advertisement for Afflac. He knows that the ______ is a critical component of the copy because _____. a. headline; It is often the only part of the advertisement that is read. b. tag line; it links the copy to the signature. c. slogan; it links the artwork to the signature. d. headline; it determines the final layout design. e. artwork; it takes up the most space.

a. headline; It is often the only part of the advertisement that is read.

During the evaluation of alternatives stage of the consumer buying decision process, framing most likely influences the decision process of ____ buyers. a. inexperienced b. wealthier c. older d. veteran e. younger

a. inexperienced

Facilities, factories, and production lines with very large equipment are all classified as a. installations. b. MRO facilities. c. component parts. d. accessory equipment. e. permanents.

a. installations.

The coordination of promotion and other marketing efforts for maximum informational and persuasive impact defines a. integrated marketing communications. b. kinesic communication. c. tactile communication. d. communication. e. proxemic communication.

a. integrated marketing communications.

Location is important to a retailer because a. location determines the trading area from which the store must draw its customers. b. a desirable location appeals to consumers' emotions. c. suppliers charge more to service stores in certain trading areas. d. convenient location is an essential customer service element. e. location is the major determinant of store image.

a. location determines the trading area from which the store must draw its customers.

Individuals, groups, or organizations with one or more similar characteristics that cause them to have similar product needs are classified as a. market segments. b. demographic segments. c. concentrated markets. d. strategic segments. e. heterogeneous markets.

a. market segments.

Assuming that inflation is low, high buying power characterizes the ____ stage of the business cycle. a. prosperity b. recession c. succession d. recovery e. depression

a. prosperity

Sierra is driving to work on I-95 and notices a billboard for new salads at Wendy's. She reads the message and sees the pictures of the new salads. In this case, Sierra is the ____ and Wendy's is the ____ of this communication. a. receiver; source b. communicatee; communicator c. feedback; noise d. decoder; coder e. audience; promoter

a. receiver; source

Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as a. relationship marketing. b. marketing synthesis. c. strategic marketing. d. the marketing concept. e. a marketing orientation.

a. relationship marketing.

Saks Fifth Avenue wants to learn about its consumers' attitudes toward on-line purchases. There are numerous studies that are available about consumers and on-line buying, but Saks believes its customers might be different from the usual on-line consumer profile, so they decide to conduct their own study. If Saks were to use the available data about consumer attitudes, it would be using ___ data; however, if Saks does its own study it would collect ______ data. a. secondary; primary b. experimental; descriptive c. primary; secondary d. descriptive; primary e. secondary; descriptive

a. secondary; primary

The three major categories of influences on the consumer buying decision process are: a. situational influences, social influences, and psychological influences. b. situational influences, demographic influences, and psychological influences. c. demographic influences, situational influences, and marketer-dominated influences. d. social influences, situational influences, and marketer-dominated influences. e. marketer-dominated influences, psychological influences, and person-specific influences.

a. situational influences, social influences, and psychological influences.

In contrast to industrial products, consumer products are often purchased because of a. social influences. b. necessity. c. prior planning. d. rational needs. e. economic planning.

a. social influences.

Successful business organizations should take actions to convert internal weaknesses into ____ and external threats into ____. a. strengths; opportunities b. core competencies; strengths c. strengths; core competencies d. opportunities; core competencies e. opportunities; strengths

a. strengths; opportunities

Retailers that sell only to members and feature discount retailing combined with cash-and-carry wholesaling are called a. warehouse clubs. b. hypermarkets. c. discount stores. d. warehouse showrooms. e. retail groups.

a. warehouse clubs.

Which of the following is the best definition of cause-related marketing? a. Developing, promoting, and distributing products that are environmentally safe b. Linking a firm's products to a particular social cause¾either short term or long term c. Donating money to a social cause based on sales of a particular product over a defined period of time d. Using organizational core competencies and resources to address stakeholders' interests and achieve organizational and social benefits e. Contributing resources to the community in order to improve the overall quality of life

b. Linking a firm's products to a particular social cause¾either short term or long term

To announce its development of a solid fuel titanium rocket for the U.S. missile defense system, Unijet management feels it needs to get wide media coverage. Under these circumstances, which of the following would be its best alternative? a. Television advertisement b. Press conference c. Feature article d. Captioned photograph e. Editorial letters

b. Press conference

Which of the following statements about social responsibility is correct? a. Social responsibility dimensions do not include economic concerns. b. Social responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact on society. c. Social responsibility does not deal with the total effect of all marketing decisions on society. d. Social responsibility dimensions do not include philanthropic concerns. e. Social responsibility refers to principles and standards that define acceptable conduct in marketing as determined by various stakeholders.

b. Social responsibility refers to a company's obligation to maximize its positive impact and minimize its negative impact on society.

Why are line extensions more common than new products? a. They are guaranteed to succeed in the marketplace. b. They are less expensive and lower-risk. c. They are higher risk and more expensive. d. They require no market research. e. Modifications to existing products are very easy.

b. They are less expensive and lower-risk.

A strategic window is a. what determines the factors that are most important in making a market attractive or strong. b. a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market. c. customers' requirements or desired benefits. d. the process that seeks information about events and relationships in a company's outside environment. e. the right combination of circumstances and timing that permit an organization to take action to reach a particular target market.

b. a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.

AppleTM has made a success from anticipating what consumers would want in new technological advances, convenience, and ease of use. The introduction of the iPad was an example of a _____ for AppleTM, something that an organization does extremely well and may give a company an advantage over its competition. a. sustainable competitive advantage b. core competency c. strategic vision d. marketing opportunity e. benchmark

b. core competency

Any human or mechanical effort that adds value to a product is called a. overhead. b. customer service. c. an intangible. d. a service. e. service marketing.

b. customer service.

The three major types of nonstore retailing are a. telemarketing, door-to-door, and mail-order. b. direct marketing, direct selling, and automatic vending. c. direct selling, automatic vending, and catalog retailing. d. automatic vending, direct selling, and telemarketing. e. direct marketing, direct selling, and mail-order.

b. direct marketing, direct selling, and automatic vending.

Drop shippers a. take title to but not physical possession of the goods. b. do not take title to or physical possession of the goods. c. do not take title to but take physical possession of the goods. d. are similar to truck wholesalers but provide the extra service of placing products on retailers' shelves. e. take title to and physical possession of the goods.

b. do not take title to or physical possession of the goods.

The marketing environment is best described as being a. composed of variables independent of one another. b. dynamic and changing. c. an indirect influence on the performance of marketing activities. d. slow, with infrequent fluctuations. e. composed of controllable variables.

b. dynamic and changing.

The four major stages of a product life cycle include a. decline, stabilization, exposure, and growth. b. introduction, growth, maturity, and decline. c. awareness, interest, trial, and adoption. d. specialty, convenience, shopping, and unsought goods. e. prosperity, recession, depression, and recovery.

b. introduction, growth, maturity, and decline.

Shopping centers include a. free-standing, convenience, traditional, and regional. b. outlet, power, lifestyle, superregional, regional, neighborhood, and community. c. outlet malls, lifestyle, strip malls, and shopping malls. d. neighborhood, regional, superregional, power, and strip malls. e. community, rural, urban, and traditional business districts.

b. outlet, power, lifestyle, superregional, regional, neighborhood, and community.

Service activities are time-dependent, meaning that the service must be provided at a point in time when customers want to use it. This point in time is also known as a. high-contact time. b. peak demand. c. preferred demand. d. high intensity time. e. off-peak demand.

b. peak demand.

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

b. producer, reseller, government, and institutional.

The unconscious reference to one's own cultural values, experiences, and knowledge when encountering new and different cultures is known as a. cultural relativism. b. the self-reference criterion. c. the Fraedrich Principle. d. the "when-in-Rome" approach. e. the self-reference principle.

b. the self-reference criterion.

The difference between an agent and a broker is that an agent a. is an intermediary, whereas a broker is not. b. usually represents people on a permanent basis, whereas a broker usually does so on a temporary basis. c. determines who the consumers are, whereas the broker does not determine the customers. d. represents the seller and a broker represents the buyer. e. seeks profit, whereas a broker does not.

b. usually represents people on a permanent basis, whereas a broker usually does so on a temporary basis.

Which of the following is the fastest growing, most affluent subculture in the United States? a. Hispanics b. African Americans c. Asian Americans d. Native Americans e. Italian Americans

c. Asian Americans

____ uses the Internet, mobile, and interactive channels to develop communication and exchanges with customers. a. Digital media b. Digital electronics c. Digital marketing d. E-marketing e. Electronic marketing

c. Digital marketing

Which of the following lists the levels of involvement in global marketing from the lowest to the highest? a. Globalized marketing, international marketing, limited exporting, domestic marketing b. Limited exporting, domestic marketing, globalized marketing, international marketing c. Domestic marketing, limited exporting, international marketing, globalized marketing d. Domestic marketing, globalized marketing, international marketing, limited exporting e. International marketing, limited exporting, domestic marketing, globalized marketing

c. Domestic marketing, limited exporting, international marketing, globalized marketing

The agreement between the United States, Canada, and Mexico that merges these three countries into one marketplace is called a. EU. b. MERCOSUR. c. NAFTA. d. GATT. e. APEC.

c. NAFTA.

What is a primary difference between business and consumer buyers? a. Business purchases are made by one individual whereas families make consumer purchases together. b. Consumer buyers require more product information than business buyers. c. Repeat sales are more common with consumer buyers than business buyers. Selected:d. Business buyers generally make larger orders than consumer buyers. e. Consumers primarily buy inexpensive items; businesses only buy expensive items.

c. Repeat sales are more common with consumer buyers than business buyers. Selected:d. Business buyers generally make larger orders than consumer buyers.

Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship? a. A good bargain on the product for the buyer b. Profits for the seller c. Satisfaction for both the buyer and seller d. Reducing the seller's inventory e. One party having to compromise in the exchange

c. Satisfaction for both the buyer and seller

What is the primary distinction between a line extension and a product modification? a. Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market. b. In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension. c. With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension. d. A product modification results in a completely new product while a line extension is simply changing an old product. e. Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality.

c. With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension.

One advantage of nonprice competition is that a. a firm can react quickly to competitive efforts. b. market share becomes less important. c. a firm can build customer loyalty. d. pricing is no longer a factor. e. marketing efforts are completely eliminated.

c. a firm can build customer loyalty.

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

c. all entities that facilitate product distribution.

When Yoplait Yogurt gives a portion of its profits to Breast Cancer Research, it is using a. charity marketing. b. promotion. c. cause-related marketing. d. charitable promotion. e. integrated marketing communications.

c. cause-related marketing.

The focal point of all marketing activities is a. the marketing mix. b. profits. c. customers. d. products. e. sales.

c. customers.

The marketing channels for services are usually a. characterized by two to three intermediaries. b. dependent on the geographical location of the consumer. c. direct from provider to customer. d. complex and multifaceted. e. determined by the customer.

c. direct from provider to customer.

A competitive advantage exists when a a. firm does marketing better than its competitors. b. firm observes a fit between the key requirements of a market and its own capabilities. c. firm matches a core competency to opportunities it has discovered in the marketplace. d. firm has a strong marketing plan. e. combination of circumstances and timing allow a firm to reach an attractive target market.

c. firm matches a core competency to opportunities it has discovered in the marketplace.

Pioneer promotion is most likely to be used during the ____ stage of the product life cycle, while competitive advertising is likely to be used during the ____ stage. a. introduction; maturity b. growth; maturity c. introduction; growth d. decline; maturity e. maturity; growth

c. introduction; growth

The public relations department at Lowe's Home Improvement submits one page of typewritten copy to national newspapers and news web sites to announce its one-day, nationwide clean-up-local-parks event. This is an example of a a. media bulletin. b. feature article. c. news release. d. public update. e. publicity stunt.

c. news release.

The four major competitive structures are a. brand, product, total budget, and generic. b. monopolies, limited competition, oligopolistic competition, and pure competition. c. oligopolies, monopolies, monopolistic competition, and pure competition. d. monopolies, oligopolies, oligopolistic monopolies, and pure competition. e. pure competition, heavy competition, moderate competition, and light competition.

c. oligopolies, monopolies, monopolistic competition, and pure competition.

Maslow's hierarchy of needs refers to the five levels of needs that humans seek to satisfy, from most to least important. These needs, in order from most to least important are a. physiological, esteem, safety, self-actualization, and psychological. b. physiological, psychological, safety, social, and esteem. c. physiological, safety, social, and esteem, self-actualization. d. physiological, safety, esteem, social, and self-actualization. e. psychological, physiological, safety, social, and esteem.

c. physiological, safety, social, and esteem, self-actualization.

For most consumers, there is an assumed relationship between a. internal and external reference prices. b. value and price consciousness. c. price and quality. d. prestige prices and value. e. value and cost.

c. price and quality.

Marketing ethics a. refers to laws and regulations that govern marketing. b. applies well-defined rules for appropriate marketing behavior. c. refers to principles and standards that define acceptable conduct in marketing. d. maximizes an organization's positive impact and minimizes its negative impact on society. e. is most important for advertising agencies.

c. refers to principles and standards that define acceptable conduct in marketing.

The three basic forms that a product can take are a. goods, ideas, and intangibles. b. brands, services, and tangibles. c. services, ideas, and goods. d. markets, products, and images. e. ideas, services, and things.

c. services, ideas, and goods.

The major levels of intensity at which a company can choose to distribute its products are ____ distribution. a. vertical and horizontal b. selective, cooperative, and conflicting Selected:c. intensive, extensive, and exclusive d. cooperative, conflicting, and integrated e. exclusive, selective, and intensive

e. exclusive, selective, and intensive

Bundle pricing may be perceived to be of value by customers because a. they always pay a lower price per item than they would have if they bought each item separately. b. they are purchasing complementary products, which is convenient for them. c. they prefer buying a combination of bundled products in a single transaction, which saves time, effort, and perhaps money. d. the companies selling the products can sell them at a lower price because their costs of packaging are lower. e. they can purchase items that are consumed frequently in larger quantities.

c. they prefer buying a combination of bundled products in a single transaction, which saves time, effort, and perhaps money.

Purchasers who intend to use or benefit from the purchased product and do not buy products for business purposes are called the a. household purchasing group. b. organizational market. c. ultimate consumers. d. business market. e. end-use consumption group

c. ultimate consumers

According to your text, ____ are small technology-based firms operating in international markets within two years of their establishment and realizing as much as 70 percent of their sales outside the domestic home market. a. "born multinationals" b. "multinational enterprises" c. "multinational corporations" d. "born globals" e. "natural globals"

d. "born globals"

The target market of a regional shopping center typically includes at least ____ people. a. 250,000 b. 50,000 c. 25,000 d. 150,000 e. 100,000

d. 150,000

The four basic rights outlined in the Consumer Bill of Rights include the right to safety, the right to be heard, the right to a. consumer education, and the right to honesty. b. inform, and the right be chosen. c. redress, and the right to choose. d. choose, and the right to be informed. e. honesty, and the right to redress.

d. choose, and the right to be informed.

All of the following are reasons why new products fail except a. overestimated market size. b. had poor timing. c. distributed insufficiently. d. promoted poorly. e. followed a systematic plan.

e. followed a systematic plan.

Which of the following countries was the world's first service economy? a. England b. Canada c. Germany d. United States e. Sweden

d. United States

The part of a brand that can be spoken including letters, numbers, and words is the a. trade name. b. brand. c. brand mark. d. brand name. e. trademark.

d. brand name.

Variables such as geographic location, type of organization, customer size, and type of product usage are used to segment ____ markets. a. international b. government c. most target d. business e. consumer

d. business

One disadvantage of test marketing a new product is that a. the product is distributed on a regional basis. b. price, advertising, and packaging cannot be varied from market to market. c. it might fail before it can be commercialized. d. competitors may copy the product. e. the results give little indication of the product's future success.

d. competitors may copy the product.

Segmentation variables are usually grouped into four categories: a. geopolitical, income, behavioristic, and psychographic. b. demographic, geographic, religion, and income. c. attitudes, lifestyles, behaviors, and gender. d. demographic, geographic, psychographic, and behavioristic. e. geographic, demographic, psychographic, and attitudes.

d. demographic, geographic, psychographic, and behavioristic.

If a store has areas for men's apparel, women's apparel, housewares, cosmetics, and jewelry and competes mostly on the basis of service, it is most likely a(n) a. niche retailer. b. category killer. c. specialty retailer. d. department store. e. superstore.

d. department store.

To monitor changes in the marketing environment effectively, marketers must engage in a. marketing research analysis b. economic scanning c. self-regulatory analysis d. environmental scanning and analysis. e. information collecting

d. environmental scanning and analysis.

Population density and city size are ____ variables used for market segmentation. a. demographic b. geodemographic c. environmental d. geographic e. psychographic

d. geographic

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a a. strategic market plan. b. corporate objective. c. market objective. d. market opportunity. e. market requirement.

d. market opportunity.

Marketing managers strive to develop a marketing mix that a. matches what competitors are offering. b. best matches the abilities of the firm. c. generates the highest level sales. d. matches the needs of the target market. e. minimizes marketing costs.

d. matches the needs of the target market.

Service industries account for ____ of the gross domestic product of most developed nations. a. more than half b. approximately 25 percent c. nearly all d. nearly three-quarters e. a small portion

d. nearly three-quarters

U.S. banks provide their banking services through brick and mortar sites, by phone, and through on-line access. These various ways in which a customer can access their account information is called ______, while the brick and mortar site would offer the least amount of _____. a. possession utility; time utility. b. place utility; possession utility. c. place utility; face utility d. place utility; time utility. e. time utility; place utility.

d. place utility; time utility.

The forces of the marketing environment include a. competitive and noncompetitive forces that affect most lifestyles. b. legal, regulatory, political, and sociocultural. c. sociocultural, legal, regulatory, economic, and competitive. d. political, legal and regulatory, sociocultural, technological, economic, and competitive. e. fairly static components.

d. political, legal and regulatory, sociocultural, technological, economic, and competitive.

The three purposes for which individuals or groups can use products in order for it to be considered a business market are a. direct use in producing other products, company travel, and end consumption. b. governmental, institutional, and reseller purposes. c. making other products, selling to other businesses, making component parts. d. resale, use in daily operations, and direct use in producing other products. e. use in daily operations, end consumption, and resale.

d. resale, use in daily operations, and direct use in producing other products.

The cost of ____ is usually substantially lower than the cost of ____. a. stimulating primary demand; stimulating selective demand b. identifying prospects; encouraging product trial c. personal selling; public relations d. retaining existing customers; acquiring new customers e. comparative advertising; pioneer promotion

d. retaining existing customers; acquiring new customers

When McDonald's uses the Monopoly game in which customers receive game pieces with each visit and try to assemble a set of properties to win prizes, McDonald's is utilizing a. advertising. b. guerilla marketing. c. public relations. d. sales promotion. e. personal selling.

d. sales promotion.

Home Depot is interested in knowing how its efforts to act in a socially responsible manner through its Habitat for Humanity and disaster relief efforts have affected stakeholders' views of the company. Home Depot should conduct a(n) a. communications audit. b. environmental impact study. c. publicity audit. d. social audit. e. environmental audit.

d. social audit.

The amount of annual losses companies suffer from counterfeit products is estimated to be a. $3-$5 billion. b. $30-$50 billion. c. $600-$800 billion. d. $500-$800 million. e. $250-$350 billion.

e. $250-$350 billion.

Which of the following is the best definition of green marketing? a. Protecting the natural environment through the implementation of programs for environmental cleanup b. Meeting the criteria necessary to receive the European Eco-label through efforts designed to protect the natural environment c. Using only recycled materials in the production, distribution, and disposal of a company's products d. Using technology and human resources for marketing efforts designed to reduce waste e. Developing, pricing, promoting, and distributing products that do not harm the natural environment

e. Developing, pricing, promoting, and distributing products that do not harm the natural environment

For most firms, the costs of marketing activities consume approximately what portion of the consumer's dollar? a. One-third b. One-fifth c. One-sixth d. One-fourth e. One-half

e. One-half

Michael is planning a promotional program for AirFam. AirFam is a supplier of new energy-saving engines used to produce air conditioners. His company needs to promote these engines to manufacturers of air conditioners, so he is most likely to use ___, because it provides immediate feedback. The disadvantage is that it is _____ than advertising to reach one customer. a. Personal selling; less effective b. Sales promotion; more costly c. Sales promotion; less effective d. Direct marketing; less effective e. Personal selling; more costly

e. Personal selling; more costly

____ competitors are those that compete in the same product class, but their products have different features, benefits, and prices. a. Generic b. Price c. Brand d. Total budget e. Product

e. Product

At what point does a firm maximize profit? a. The breakeven point plus the adjusted marginal cost b. The point at which marginal cost equals marginal profits c. The point at which the firm sells its product at the highest price d. The point at which marginal profits equal marginal revenue e. The point at which marginal cost equals marginal revenue

e. The point at which marginal cost equals marginal revenue

Ralph Lauren is planning a promotion where it will showcase all of its clothing lines to buyers at retail stores. It also plans to develop a direct marketing campaign that will use social media to introduce its new seasonal styles. Ralph Lauren is using ___ with the retail showcase and ___ with the social media campaign. a. a pull policy; a push policy. b. personal selling; a pull policy. c. guerilla marketing; a push policy. d. publicity; a push policy. e. a push policy; a pull policy.

e. a push policy; a pull policy.

The marketing concept is a philosophy that states that an organization should try to satisfy customers' needs and also a. increase market share. b. produce high-quality products. c. coordinate its activities to increase production. d. increase sales. e. achieve the organization's goals.

e. achieve the organization's goals.

Rick is a sales representative for Lucent Technologies. He has reviewed a prospect's account and credit history, identified product needs, and gathered the appropriate literature he needs. Rick feels he is ready for the ____ step of the personal selling process. a. presentation b. preapproach c. sales-planning d. objections e. approach

e. approach

The ability to purchase a product is a function of a. needs. b. authority. c. willingness. d. desire. e. buying power.

e. buying power.

After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing a. alternative evaluation. b. framing. c. internal search. d. problem recognition. e. cognitive dissonance.

e. cognitive dissonance.

Marketers generally view ____ as the minimum price a product can be sold for. a. moderate losses b. profits c. variable costs d. fixed costs e. costs

e. costs

The marketing mix is built around the a. product. b. company. c. retail outlet. d. employee. e. customer.

e. customer.

Sebastian, Kevin's sales manager, points out to him that his last shopper in the housewares department didn't seem interested or involved as he explained the new food processor to her. Sebastian suggests that Kevin use a(n) ____ as part of his presentation next time. a. overcoming objections approach b. information pamphlet c. trial close d. video e. demonstration

e. demonstration

As they walk to the car, Erin tells her sales representative, Joachin, that they may need to modify the price structure they just presented to the prospect. Erin bases her statement on the way the prospect folded his arms when Joachin quoted him the prices on the new system. Joachin says he didn't notice. Erin recommends a book on ____ communication to Joachin. a. proxemic b. verbal c. tactile d. signal e. kinesic

e. kinesic

Shopping products have a ____ inventory turnover and need ____ distribution outlets than convenience goods. a. similar; more b. lower; more c. higher; more d. higher; fewer e. lower; fewer

e. lower; fewer

Most business purchases can be classified as belonging to one of three types: a. rebuy, reciprocal, or delayed. b. delinquent, new-task, or reciprocal. c. delinquent, repetitive, or delivered. d. repetitive, new-task, or modified rebuy. e. modified rebuy, new-task, or straight rebuy.

e. modified rebuy, new-task, or straight rebuy.

Three primary methods of collecting information for environmental scanning are a. secondary sources, company records, and observation. b. executive knowledge, media, and marketing research. c. company database, executive knowledge, and research. d. marketing research, company records, and advance orders e. observation, secondary sources, and marketing research.

e. observation, secondary sources, and marketing research.

The five major stages of the consumer buying decision process, in order, are a. information search, evaluation of alternatives, purchase, trial adoption period, and postpurchase evaluation. b. information search, establishment of product criteria, evaluation of alternatives, purchase, and postpurchase evaluation c. problem recognition, purchase, evaluation of alternatives, postpurchase evaluation, and rebuy. d. problem recognition, information search, evaluation of alternatives, postpurchase evaluation and purchase. e. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

e. problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.

Tara is beginning her week as a sales representative for Logitech Technology. She decides to start the day by developing a list of potential customers, which is called a. screening. b. surveying. c. scouting. d. preapproaching. e. prospecting.

e. prospecting.

The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of a. personal selling. b. direct marketing. c. social media. d. sales promotion. e. publicity.

e. publicity.

Services are usually provided through ____ directed at people or objects. a. tangible and intangible products b. physical labor c. knowledge and technology d. ideas and other intangible efforts e. the application of human or mechanical efforts

e. the application of human or mechanical efforts

The primary value that a marketer expects to receive from a customer in an exchange relationship is a. customer satisfaction. b. references to other potential customers. c. quality merchandise that meets expectations. d. few returns of the merchandise purchased. e. the price charged for the product.

e. the price charged for the product.