Wrong Answers on Marketing Quizzes

(6) A brand difference is said to be preemptive if ________. a. competitors cannot easily copy the difference b. the difference can be introduced profitably c. the difference is beneficial to customers d. the difference is communicable e. buyers can afford to pay for the difference

a. competitors cannot easily copy the difference

(1) Customer equity is a measure of the past value of a company's customer base. (T/F)

False

(2) "At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement. (T/F)

False

(2) "At Dodson, we sell shoes" is a market-oriented business definition. (T/F)

False

(3) A customer buys a can of Pepsi from a Walmart store. In this scenario, Walmart is a supplier in Pepsi's value delivery network. (T/F)

False

(3) Stringent product regulations have helped to lower research costs and decrease time between new product ideas and their introduction to the market. (T/F)

False

(5) The buying center consists of key decision makers from both the buying organization and the supplier. (T/F)

False

(7) The augmented product is considered the basic level among the three levels of product. (T/F)

False

(6) Which of the following is true about local marketing? a. It does not cater to individual stores. b. It increases manufacturing costs. c. It increases economies of scale. d. It does not support evolving technologies. e. It reduces logistical issues.

b. It increases manufacturing costs.

(7) Which of the following is a desirable quality for a brand name? a. The name should not suggest anything about the product quality. b. The name should translate easily into foreign languages. c. The name should be a common word rather than a distinctive one. d. The name should be unique and difficult to pronounce to ensure legal protection. e. The name should not be extendable.

b. The name should translate easily into foreign languages.

(2) True Value Hardware relies on its ________ to coordinate and carry out activities that provide shoppers with the hardware and home improvement products they need at affordable prices along with top-notch customer service. a. distributors b. internal supply chain c. portfolio network d. suppliers e. internal value chain

b. internal value chain

(4) A(n) ________ is best suited for exploratory research. a. questionnaire b. observation c. mail survey d. focus group e. online survey

b. observation

(3) Which of the following generational groups account for a third of the U.S. population but half of all consumer spending? a. Lost Generation b. Generation X c. Baby Boomer d. Generation Z e. Millennial

c. baby boomer

(5) Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect? a. post- purchase behavior b. purchase decision c. information search d. situational analysis e. evaluation of alternatives

c. information search

(6) When a company interacts one-on-one with large numbers of customers to create customer-unique value by designing products and services tailor-made to individual needs, it is engaging in ________. a. mass marketing b. local marketing c. mass customization d. differentiated marketing e. concentrated marketing

c. mass customization

(6) The marketing manager of Refresh Inc., a leading producer of soft drinks, is considering a differentiated marketing strategy. An important consideration is weighing increased sales against ________ before selecting this strategy. a. increased profits b. increased demand c. decreased prices d. increased costs e. decreased production

d. increased costs

(2) Managing the marketing function begins with a complete analysis of the company's situation. A thorough ________ is typically undertaken to guide decision making. a. portfolio analysis b. internal assessment c. industry overview d. situation analysis e. SWOT analysis

e. SWOT analysis

(3) P&G "Tide Loads of Hope" program provides mobile laundromats and loads of clean laundry to families in disaster-stricken areas. This is an example of ________ marketing. a. ethical b. environmental c. charitable d. social e. cause- related

e. cause- related

(7) Which of the following is an industrial product categorized under supplies and services? a. lumber b. generator c. elevator d. wheat e. coal

e. coal

(5) Electric cars are not considerably different or difficult to drive relative to gas-powered cars. However, this is not aligned with the perceptions or conceptual concerns held by the public about the new technology. This will likely slow the adoption rate due to the ________ of the innovation. a. divisibility b. relative advantage c. communicability d. compatibility e. complexity

e. complexity

(1) Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog? a. sustainable marketing b. the product concept c. the production concept d. the selling concept e. customer-driving marketing

e. customer-driving marketing

(4) Which of the following would most likely use informal research methods to obtain marketing insights? a. family-owned businesses b. multinational firms c. brick-and-mortar companies d. pharmaceutical firms e. not- for- profit organizations

e. not- for- profit organizations