Business Marketing Final

Which of the following statements about handling objections is true? . A salesperson should view objections as requests for more information . A professional salesperson should not anticipate objections . A good salesperson dreads having to handle sales objections . Objections should not be used to close the sale

A salesperson should view objections as requests for more information.

Danita is in charge of a new business development for her advertising agency. She recently made a sales presentation to the administration of Northwest Medical System to discuss the creative approaches her agency would use to differentiate Northwest Medical from its competition. Danita ended the presentation by asking, "When would you like our firm to begin working on your new brand awareness campaign?" In which stage of the selling process would such a question most likely be asked? . Qualifying the prospect . Follow-up . Closing the sale . Handling rejection

Closing the sale

When Procter & Gamble (P&G) developed the Mr. Clean Magic Eraser, the company needed to explain how the product cleans grime from walls without removing paint. What type of campaign was most likely used by P&G for the Mr. Clean Magic Eraser? . Informative Advertising . Comparative Advertising . Reminder Advertising . Persuasive Advertising

Informative advertising

_______ is distribution aimed at maximum market coverage. It is used for many convenience goods and supplies that need to be available in every outlet where the potential customer might want to buy them. . intensive distribution . Horizontal channeling . Exclusive distribution . Selective distribution

Intensive distribution

Which of the following statements is most likely true of public relations? . It can have the same impact on public awareness as advertising at much lower costs . It is always handled by a third-party agency hired by the firm . It forms a huge portion of the overall marketing budget of most large firms . It requires participating companies to pay for media space over time

It can have the same impact on public awareness as advertising at much lower costs

An airline traveler discovers that the passenger in the seat next to hers paid 70% of the price she paid for her ticket. Is this a violation of the Robinson-Patman Act on the part of the airline? . Yes, because all the seats arrive at the same destination, so they should be priced equally. . No because the traveler only discovered the price difference accidentally. . No, because the traveler could have gotten that same fare by booking on a different day . Yes, because the other passengers discount must have een negotiated illegally.

No, because the traveler could have gotten that same fare by booking on a different day

_________ becomes more important as competition increases. With this type of advertising, a company's objective is to build selective demand. . Informative advertising . Persuasive advertising . Institutional advertising . Reminder advertising

Persuasive advertising

Which of the following is true about the customer sales force structure? . Separate sales forces are set up for different industries, serving current customers versus finding new ones, and serving major accounts versus regular accounts. . Customer sales force structure is a combination of territorial sales force structure and product sales force structure . Salespersons specialize in only a particular product line as the company produces numerous and complex products . Each salesperson is assigned to an exclusive geographic area and sells the company's full line of products or services to all customers in that territory.

Separate sales forces are set up for different industries, serving current customers versus finding new ones, and serving major accounts versus regular accounts.

___________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. . Social classes . Reference groups . Social networks . Universal cultures

Social classes

Henry would like to have Phil for a roommate. They seem to get along fine and have many common interests. However, Phil smokes and Henry does not. The eventual solution to this problem is that Phil agrees to smoke outside the apartment and tries to quit by using nicotine patches. Henry agrees not to complain about the smell on Phil's clothes and to be supportive of his attempts to quit smoking. This illustration is an example of which of the following? . balance theory . social judgement theory . classical conditioning theory . instrumental conditional theory

balance theory

Calypso Motors recently rolled out its hatchback, Proteus. Proteus combines the attractiveness of a luxury car with the excellent agility of a sports car. Calypso Motors is confident that Proteus will appeal to both sports car enthusiasts as well as the luxury segment. Which of the following types of market segmentation is evident here? . gender segmentation . income segmentation . benefit segmentation . geographic segmentation

benefit segmentation

Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities-that is, we are what we consumer". According to this premise, consumers _______________ . . buy products to support their self-images . are affected by opinion leaders . conduct primary research . rarely identify which brand personalities

buy products to support their self-images.

Consumer perceptions of the product's value set the ____________ for prices. . variable cost . ceiling . demand curve . floor

ceiling

Which of the following is a major disadvantage of a multichannel system? . declining employee morale . channel conflict . less net profit . fewer domestic sales

channel conflict

During the ________ stage of the new-product development process, production starts, inventories are built up, the product is shipped to distribution points, the sales force is trained, and advertising and promotion begin. . product testing . market analysis . product prototyping . commercialization

commercialization

To measure the ___________ effects of an ad after its has aired, the advertiser can evaluate how the ad affected consumer recall, product awareness, and preference. . profit . continuity . sales . communication

communication

The Swap is a small company that uses a marketing strategy in which its limited resources are employed to target a large share of two small market segments. The Swap most likely uses which of the following marketing strategies? . concentrated marketing . mass marketing . one-to-one marketing . individual marketing

concentrated marketing

Advertisers are often concerned with the noise level in a medium. The medium that is assumed to have the lowest noise level is: . newspaper . radio . direct mail . magazines

direct mail

Which of the following is an advantage of adding new channels in a multichannel distribution system? . reducing control over the system . decreasing marketing needs and costs . limiting market complexity . expanding sales and market coverage

expanding sales and market coverage

Right after closing, Joshua, a senior sales manager at ?Halcyon Technologies called up the customer to ensure that she was satisfied with Halcyon's products. By calling the customer, Joshua also wanted to ensure repeat business. In this instance, Joshua is in the ________ stage of the selling process. . preappraoch . follow-up . prospecting . funding objections

follow-up

Claritas uses hundreds of demographic variables in its PRIZM system when classifying residential neighborhoods. The system breaks down over 250,000 neighborhood areas in the United States into 66 types based on consumer behavior and lifestyle. Each of the types has a name that theoretically describes the type of people living there, such as Upward Bound, Boomtown Singles and Monday and Brains. PRIZM is an example of ____________ . . gender segmentation . behavioral segmentation . demographic segmentation . geodemographic segmentation

geodemographic segmentation

The phase of the product life cycle in which healthy profits usually begin to appear is the _________ stage. . introductory . growth . decline . maturity

growth

Billboard advertisements often have to compete for a drivers attention with traffic, passengers, radio, or other billboard. Billboard advertising would be described as: . having a high noise level . the most flexible advertising medium . lacking any geographic selectivity . having a low noise level

having a high noise level

The management of two Panizza restaurants have an ongoing disagreement over the discount rate given to students from the local high school. This is an example of __________ conflict. . selective . intensive . vertical . horizontal

horizontal

A penetration pricing strategy tends to be most effective: . when the company can only perform small production runs . when demand is relatively inelastic . under unitary conditions . in price-sensitive markets

in price-sensitive markets

Robin works in a manufacturing company in Ohio. She sells products and handles customer requests via the company's online live chat feature. In her company, Robin is most likely a part of the _____________ . . executive management . product designing team . outside sales force . inside sales force

inside sales force

For which of the following would a company use an exclusive distribution strategy? . newspapers . luxury cars . soft drinks . chewing gym

luxury cars

TelStar Plastics is in the process of dividing a market into distinct groups of buyers with different needs, characteristics, and behaviors who might require separate products or marketing programs. Which of the following is this firm doing? . market development . market diversification . market segmentation . market penetration

market segmentation

Student Steals sets a low price for a new product in order to attract a large number of buyers and a large market share are using the _________ strategy. . market-penetration pricing . cost-plus pricing . market-skimming pricing . exclusive pricing

market-penetration pricing

Interior sets a high price for a new product with the intentions of reducing the price in the future. It is using the __________ pricing strategy. . cost plus . market-penetration . market-skimming - competitive

market-skimming

A _________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user. . resource bank . consumer base . product line . marketing channel

marketing channel

Which stage in the Product Life Cycle normally lasts longest and poses strong challenges to marketing managers? . growth . decline . maturity . introduction

maturity

Atlas Imports and Exports sells products directly to consumers via the Atlas Web site, and through local retailers as well. Which of the following is evident here? . multichannel distribution system . corporate vertical marketing system . horizontal markting system . conventional distribution channel

multichannel distribution system

Which of the following is a major tool used by PR professionals? . market penetration . standardized global advertising . news . product packaging

news

The process by which people select, organize, and interpret stimuli into a meaningful and coherent picture is called: . comprehension . cognitive adaption . perception . retention

perception

Recent research of cell phone features (e.g., calendar, push-to-talk, text messaging) used a two-dimension _________ with the axes ranging from low-to high-technological advancement and high-entertainment to high utility to show how the products are perceived by customers. . target market chart . product differentiation graph . product model . positioning map . product locator

positioning map

Melissa Price is a member of the sales force at Urban Fashions, a Houston-based manufacturer of women's apparel. Melissa is preparing for a first meeting with a wholesaler who is a potential customer. She is learning as much as she can about her prospect and his organization. Melissa is in the __________ step of the personal selling process. . preapproach . follow-up . prospecting . qualifying

preapproach

When Microsoft introduced its Windows NT network operating system, it gave buyers free Web-server software. At the same time, Netscape was trying to sell similar Web-sever software for $4,999. Once Microsoft got a lion's share of the market, and Netscape's market share declined substantially, Microsoft began charging an above-market price for its Web-server software. Many people thought Microsoft was guilty of: . price discrimination . price fixing . price skimming . predatory pricing

predatory pricing

South Africa's Competition Commission accused South African Airways of conspiring with its partner, Germany's Lufthansa , to set prices on flights between Cape Town, Johannesburg, and Frankfurt. As a result, the two airlines were charged with. . bait pricing . price discrimination . price fixing . predatory pricing

price fixing

Johnson Business Solutions maintains one sales force for its copy machines and a separate sales force for its computer systems. Johnson Business Solutions utilizes a(n) ______________ . . customer sales force structure . product sales force structure . digital marketing system . territorial sales force structure

product sales force structure

Which of the following is the first step in the personal selling process? . handling objections . presentation and demonstration . prospecting and qualifying . follow-up

prospecting and qualifying

SRI Consulting has developed a typology of consumers based on values and lifestyles (VALS). What kind of segmentation is used by VALS? . geographic . geodemographic . benefit . psychographic

psychographic

You receive a report that 60% of your target market has been exposed to your ad campaign during a given period of time. Which of the following aspects of media selection is represented by this information? . engagement . impact . frequency . reach

reach

A product in the maturity stage will most likely require ____________ advertising. . comparative . persuasive . reminder . informative

reminder

After determining its advertising objectives, a company's next step in developing an advertising program is to _________. . determine the media vehicle . develop a message strategy . evaluate an advertising budget . set an advertising budget

set an advertising budget

For which of the following products would the intensive distribution strategy most likely be used? . lawn mowers . luxury cars . furniture . soft drinks

soft drinks

Which of the following is most likely an objective of information advertising? . keep the brand in customer minds during off-seasons . change customer perceptions of brand value. . encourage customers to switch brands. . tell the market about a new product

tell the market about a new product

Sara Lee, the maker of Ball Park franks, has decided to introduce its new all Park hot dog buns in a limited market consisting of only four cities and to closely monitor the reactions of potential customers to the product and marketing program. Sara Lee is going to use: . profitability analysis laboratory testing . test marketing . discontinuous innovation

test marketing

Which of the following is a disadvantage of using a differentiated marketing strategy? . customer loyalty is negatively impacted and difficult to obtain . the costs of doing business increase . product safety decreases . generates far lower sales compared to an undifferentiated marketing strategy

the costs of doing business increase

When KFC came into conflict with its franchisees over the brand's "Unthink KFC" repositioning, which emphasized grilled chicken over its traditional Kentucky fried chicken, KFC experienced ________ conflict. . horizontal . vertical . Intensive . Exclusive

vertical