MKTG CLEP part2

Which of the following best describes members of a buying center? (A) Everyone involved in making the purchase decision (B) Everyone involved in signing contracts (C) Everyone employed in the purchasing department (D) Direct reports of the vice president of purchasing (E) Technical experts who advise on product specifications

(A) Everyone involved in making the purchase decision

Which of the following is NOT a segmentation criterion or consideration used for choosing a target market? (A) Market accountability (B) Market identifiability and measurability (C) Market substantiality (D) Market accessibility (E) Market responsiveness

(A) Market accountability

Which of the following is the first step in the sales process? (A) Prospecting (B) Sales presentation (C) Gaining commitment (D) Approach (E) Precall planning

(A) Prospecting

Which one of the following changes would most likely motivate a firm to reposition a brand? (A) Shifting demographics (B) Stock market fluctuations (C) An economic downturn (D) Changes in available financial resources (E) Rising sales

(A) Shifting demographics

ABC Company agrees to pay a certain amount of a retailer's promotional costs for advertising ABC's products. This is an example of (A) cooperative advertising (B) reminder advertising (C) comparison advertising (D) slotting allowance

(A) cooperative advertising

The growth of service industries is primarily the result of (A) increasingly complex and specialized customer needs (B) a rise in income and the degree of customer input (C) rapid growth of population and government tracking systems (D) increased use of labor-intensive technology (E) decreasing demand for equipment-based services

(A) increasingly complex and specialized customer needs

Positioning refers to (A) the perception of a product in customers' minds (B) the store location in which a marketing manager suggests a product be displayed (C) where the product is placed on the shelf (D) which stores will distribute a company's product (E) where the new product is first advertised

(A) the perception of a product in customers' minds

Which of the following is true of price skimming? (A) It requires intermediaries to provide kickback payments. (B) It calls for relatively high prices to start, reducing over time. (C) It is reserved for products in the late stages of the product life cycle. (D) It works best in situations with highly elastic demand. (E) It is illegal in most jurisdictions in the United States.

(B) It calls for relatively high prices to start, reducing over time.

Which of the following most accurately describes agent wholesalers? (A) They take title to goods that they sell to other intermediaries. (B) They do not take title to goods that they sell to other intermediaries. (C) They take title to goods that they sell to final consumers. (D) They do not take title to the goods that they sell on commission to final consumers. (E) They manufacture the goods that they sell to final consumers.

(B) They do not take title to goods that they sell to other intermediaries.

A marketing strategy is composed of both (A) a target market and market opportunities (B) a target market and related marketing mix (C) a target market and SWOT analysis (D) a marketing mix and required resources (E) a marketing mix and competition

(B) a target market and related marketing mix

On its e-commerce Web site, XYZMusic.com sells songs from new artists who produce their own music. The site also hosts ads from other e-businesses. The ads presented to a user depend on the type of music the user is reviewing. XYZMusic.com collects ad revenue when users follow links in the ads to the advertisers' Web sites. XYZMusic.com's advertising revenue is based on (A) cost-per-thousand exposures (B) click-through rates (C) ad presentation rates (D) unique site-visitor data (E) site-traffic data

(B) click-through rates

Lutèce Brands, Inc., acknowledges that its French pastries may contribute to health problems in some of its customers, but the company claims that the benefits (such as personal pleasure and taste) outweigh the risks. The company's approach to moral reasoning is best described as (A) moral idealism (B) utilitarianism (C) categorical imperative (D) enlightened self-interest (E) situational ethics

(B) utilitarianism

Which of the following is NOT an advantage of Internet advertising as compared with traditional advertising? (A) Target-market selectivity (B) Tracking ability (C) Exclusivity (D) Deliverability (E) Interactivity

(C) Exclusivity

Which of the following is the fastest growing nonstore retail segment in the United States? (A) Television home shopping (B) Automatic vending (C) Online retailing (D) Catalog marketing (E) Direct-response marketing

(C) Online retailing

Which of the following types of marketing communications tends to have the shortest-term focus and objectives? (A) Brand advertising (B) Public relations (C) Sales promotion (D) Event sponsorship

(C) Sales promotion

To save time and money, a marketing research team uses data that have already been gathered for some other purpose. Which type of data is the team using? (A) Sample (B) Primary (C) Secondary (D) Survey (E) Experiment

(C) Secondary

Which of the following organizations administers the GATT (General Agreement on Tariffs and Trade) ? (A) The United Nations (B) The European Union (C) The World Trade Organization (D) The North American Free Trade Agreement (E) The Securities and Exchange Commission

(C) The World Trade Organization

At the most basic level, products and services should be viewed as a collection of (A) attributes (B) expectations (C) benefits (D) features (E) promises

(C) benefits

The primary function of promotion is to (A) sell products and services (B) create awareness (C) inform, persuade, and remind (D) make a demand more elastic

(C) inform, persuade, and remind

While writing a marketing plan, Melanie decides that the marketing objective should be "to increase market share by 5 percent." A weakness in this objective is that (A) it is not measurable (B) it should be related to brand image rather than market share (C) it does not specify a time period (D) if the product is an industrial product, the objective should specify product quality (E) it does not address all elements of the business plan

(C) it does not specify a time period

Consumers tend to be more satisfied with their purchase of a product when (A) cognitive dissonance develops after the purchase (B) the price of the product falls after the purchase (C) they research the product before the purchase (D) their opinions are inconsistent with their values (E) there is no further contact with the seller

(C) they research the product before the purchase

Which of the following is an example of business-to-business buying? (A) John buys a new home stereo. (B) Hannah pays for a new television by monthly installment. (C) Daniel decides on which college to attend. (D) Avery purchases a new office desk for his company. (E) Corey buys a soft drink from a vending machine.

(D) Avery purchases a new office desk for his company.

Richard Weiss, SA, is a Swiss watch manufacturer. One of its two major brands offers ruggedness, reliability and durability to active sports enthusiasts. The other offers elegance and stylishness to fashion conscious consumers. Which of the following segmentation approaches is this firm using? (A) Demographic (B) Geographic (C) Usage (D) Benefits sought (E) Socioeconomic

(D) Benefits sought

In selling a new global logistics information system to a large client, the national account manager of a leading supply chain management vendor learns that client executives from marketing, production, human resources, finance, and business strategy will participate in the decision-making process. Which of the following terms best describes the scope of the buying initiative? (A) Universal (B) Specialized (C) Standardized (D) Cross-functional (E) Decentralized

(D) Cross-functional

Which of the following are key characteristics of services? (A) Cost, time, quality, and value (B) Uncertainty, variability, and standardization (C) Intangibility, durability, and standardization (D) Intangibility, perishability, and variability (E) Tangibility, variability, and uncertainty

(D) Intangibility, perishability, and variability

Which of the following is true of global marketing standardization? (A) It occurs more frequently with consumer products than with industrial goods. (B) It encourages individualized variation in the product, packaging, and pricing for each nation or local market. (C) It addresses legal and cultural differences. (D) It assumes that global consumers increasingly have similar needs.

(D) It assumes that global consumers increasingly have similar needs.

Which of the following lists the correct order of the steps of the target marketing process? (A) Segmentation, positioning, and targeting (B) Targeting, segmentation, and positioning (C) Positioning, targeting, and segmentation (D) Segmentation, targeting, and positioning (E) Positioning, segmentation, and targeting

(D) Segmentation, targeting, and positioning

An advertisement for prospective applicants to a college shows individual students along with the slogan "I am getting ready to seize my destiny." The ad appeals to which need in Maslow's hierarchy? (A) Physiological (B) Esteem (C) Social affiliation (D) Self-actualization (E) Safety

(D) Self-actualization

Which of the following statements most accurately describes antidumping laws? (A) They set the price that foreign producers must charge. (B) They control the maximum price of imported products. (C) They prevent foreign producers from competing on the basis of price. (D) They prevent foreign-manufactured goods from selling at below cost. (E) They protect consumers from cheaply manufactured foreign products.

(D) They prevent foreign-manufactured goods from selling at below cost.

Harmony Households is the largest home improvement retailer in China. Because of its size and market power, the firm can insist upon desired product features, delivery schedules, and price points from its suppliers. Harmony Households is (A) a primary intermediary (B) an agent retailer (C) a multilevel distributor (D) a channel captain (E) a dominant distributor

(D) a channel captain

President John F. Kennedy's assertion that consumers have certain rights led to legislation that guaranteed all of the following EXCEPT the right to (A) be informed (B) be heard (C) choose (D) bargain (E) safety

(D) bargain

Gabriella's is an Italian producer of fashion jeans. In this highly competitive market, the firm wishes to match the advertising efforts of its competitors by achieving a share of voice (promotion) which is roughly equal to its share of market (sales). This approach to promotional budgeting is called (A) all you can afford (B) percent of sales (C) allocation per unit (D) competitive parity (E) objective and task

(D) competitive parity

Rachel Terry, regional manager at Wilcon Solvents, Inc., compares last quarter's sales with the levels projected in the firm's marketing plan. She identifies three solvent brands whose sales are below projections and initiates a series of inquiries to discover the reasons for the shortfall. Ms. Terry is engaged in which stage of the strategic marketing process? (A) Environmental scanning (B) Opportunity analysis (C) Planning (D) Implementation (E) Control

(E) Control

Which of the following lists the correct sequence of steps in the consumer decision-making process? (A) Need recognition, evaluation, purchase decision, invoked set, postpurchase behavior (B) Felt need, response to stimulus, evaluation of alternatives, postpurchase decision, purchase behavior (C) Alternative invoked set, need recognition, purchase decision, postpurchase evaluation (D) Information search, need positioning, evaluation of alternatives, product purchase decision, postpurchase satisfaction (E) Need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior

(E) Need recognition, information search, evaluation of alternatives, purchase, postpurchase behavior

The three types of marketing research are (A) explanatory, normative, and descriptive (B) predictive, normative, and innovative (C) interactive, diagnostic, and predictive (D) proactive, interactive, and reactive (E) exploratory, descriptive, and causal

(E) exploratory, descriptive, and causal

A product is classified as a business product rather than a consumer product based on its (A) tangible and intangible attributes (B) life-cycle position (C) promotion type (D) pricing strategy (E) intended use

(E) intended use

If two brands move closer to each other on a perceptual (positioning) map, it means that they have become (A) less perceptually alike (B) closer in price (C) more objectively alike (D) less likely to be direct competitors (E) more similarly perceived by consumers

(E) more similarly perceived by consumers

Compared with agent intermediaries, merchant intermediaries (A) sell only to organizational customers (B) sell only in export markets (C) are employees of the manufacturer (D) are compensated by a commission on sales (E) take title to the goods they sell

(E) take title to the goods they sell

Place the four steps in the marketing research process in the correct order. Determine the research design. Define the problem. Collect data. Choose the data collection method.

Define the problem. Determine the research design. Choose the data collection method. Collect data.