hi

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

Price is the _____________ a consumer is willing to make to acquire a specific product or service. A. amount of money B. overall sacrifice C. fixed cost D. target return E. variable cost

Raymond estimates that the fixed costs associated with opening a new bank branch are $500,000. He expects the branch to attract 1,000 new customer accounts in the first year, each of which will cost $50 per year to service. He also expects to generate $100,000 per year in revenue. For Raymond, the total cost of opening the new branch and remaining open for one year will be: A. $500,000. B. $550,000. C. $650,000. D. $450,000. E. $605,000.

Many home design businesses volunteer to provide their latest products for tours-of-homes fundraisers because they know their new products will benefit from A. relative advantage. B. compatibility. C. observability. D. complexity. E. trialability.

observability

Which of the following is NOT one of the five groups in the diffusion of innovation curve? A. Innovators. B. Non-adopters. C. Late majority. D. Early majority. E. Early adopters.

non adopters

Company sales invoices, census data, and trade association statistics are examples of A. primary data. B. data mines. C. secondary data. D. tertiary data. E. qualitative data.

These are all examples of secondary data—data that were collected for another purpose but that can be helpful in answering questions.

One of the major tools used by marketers to meet the needs of loyal customers is A. SKU. B. PDQ. C. IMF. D. CRM. E. GATT.

CRM (customer relationship management) programs often include reward programs aimed at loyal customers.

When Procter & Gamble added teeth whitening products under the Crest brand, the firm was engaged in A. corporate branding. B. brand extension. C. brand licensing. D. brand association. E. perceived value branding.

Brand extension

At the end of a brainstorming session, participants are often asked to A. identify the worst ideas. B. defer to management for the final decision. C. identify which ideas each person proposed. D. vote on the best ideas. E. propose one more new idea each.

vote

The first question a marketing researcher should ask when considering a research study is A. Who will pay for it? B. Will the research be useful? C. When is the due date? D. What sample size will be needed? E. Should we use structured or unstructured questions?

will the research be useful

In a __________ distribution center, merchandise moves from vendors' trucks to retailers' delivery trucks in a matter of hours. A. traditional B. combination C. cross-docking D. vertical E. horizontal

A typical focus group has ________ members. A. 2-4 B. 4-6 C. 6-8 D. 8-12 E. 12-15

8-12

55. Data collection begins A. only after completing the research design process. B. after determining whether there are any objections. C. whenever the researcher wants to. D. after creating the presentation format. E. after analyzing the data.

A(n) __________ is a 13-digit code retailers can use to track inventory. A. UPC B. CFPR C. pick ticket D. ASN E. EDI

Joe is reviewing secondary data his company collected about seasonal variation in consumer spending because he is thinking about developing a new product line. The advantages of using these data are that A. they are new and can be used to project overall demand. B. they can be quickly accessed at a relatively low cost. C. they are historical data that can be used to accurately predict future trends. D. they have been collected for just the purpose Joe is using it for. E. their high cost can be justified by the results.

they can be quickly accessed at a relatively low cost.

When a manufacturer launches a new product, it may offer __________ to wholesalers and retailers, including introductory price promotions, special events, and personal selling. A. trade promotions B. trade shows C. trade-in allowances D. trade discounts E. trade budgets

trade promotions

Zappos.com, an online shoe store, worked to overcome the problem of new product __________ with its easy, no-hassle return procedure. A. relative advantage B. compatibility C. observability D. complexity E. trialability

trail ability

Labor, materials, and energy are typically __________ costs. A. fixed B. incidental C. prestige D. inelastic E. variable

variable

Which of the following is NOT a characteristic of products in the maturity stage of the product life cycle? A. Laggards are a major focus of marketing efforts. B. Price competition is intense. C. Marketing costs increase as firms defend their market share. D. The market may become saturated because nearly all potential customers have adopted the product. E. To increase the customer base, firms consider entry into new markets and new market segments.

Typically, manufacturers and retailers exchange business documents through a(n) __________ system, the computer-to-computer exchange of business documents from a retailer to a vendor and back. A. cross-docking exchange B. electronic data interchange C. floor-ready bundling D. vertical conflict reduction E. radio frequency identification

When Joe's Chicken Shack wants chicken delivered in smaller batches more frequently, it offers its distributors an incentive in the form of special bonuses to change their schedules. Joe's demonstrates which kind of power? A. coercive B. reward C. referent D. expertise E. information

When conducting exploratory concept testing for her firm's new Internet anti-piracy software, Dee knows the most important question is A. how long it will take to bring the software to market. B. whether respondents would purchase the software if it becomes available. C. who will determine the price to be charged. D. where the product should be sold. E. which computer trade show will be used to introduce the product.

Which of the following is the best example of a family brand? A. Cadillac, GMC, and Chevrolet B. Tostitos Multigrain Scoops and Tostitos Chunky Salsa C. Kellogg's Special K and Famous Amos Chocolate Chip Cookies D. Lifesavers Soda, Coca Cola, and Diet Coke E. KFC/Taco Bell Fast Foods

Which of the following was NOT a new-to-the-world product or service when it was introduced? A. Wi-Fi B. the Mercedes mini sport utility vehicle, a smaller version of its larger SUVs C. Microsoft's Windows operating system D. the MP3 player E. flat screen TVs

Zappos, an online shoe company, knows shoes are typically a(n) __________ good, with consumers often spending time comparing alternatives. They overcome that aspect of consumers' search process by offering a free, no questions asked return policy. A. specialty B. shopping C. convenience D. ritual E. impulse

When a customer purchases a DVD at a Best Buy electronics store, all of the following information flows in the supply chain are started EXCEPT A. the sales associate scans the UPC recording the sale. B. the sale is transmitted to Best Buy's distribution center to adjust inventory data. C. the purchase is added to the customer's purchasing habit records. D. Best Buy's buyer aggregates sales at all stores and uses the information to send a reorder to the manufacturer. E. the point-of-sale terminal records the sale and sends it to Best Buy's buyer.

Unlike product, promotion, or place, price is the only part of the marketing mix A. that offers the opportunity for an oligopoly. B. that is subject to gray market manipulation. C. that leads to competition. D. that generates revenue. E. that is determined by the consumer.

What type of event exposes retailers to large numbers of new products in a concentrated location? A. hosted shows B. browser shows C. premarket demonstrations D. trade shows E. trade promotions

Where on a product's packaging would one most likely find nutrient content and country of origin? A. inside the secondary package B. inside the primary package C. on the company website D. on the label E. on the store shelf display

__________ are special incentives offering reduced prices for a limited time, offered to retailers to get them to try a new product. A. Loss leaders B. Push prices C. Market skimming incentives D. Introductory price promotions E. Distribution rebates

__________ is the practice of colluding with other firms to control prices. A. Competitive favoritism B. Industry tightening C. Monopolistic competition D. Price fixing E. Regressive pricing

__________ is when vendors ship merchandise prepackaged in the quantity required for each store to the distribution center. A. Traditional shipping B. Vertical merchandising C. Combination warehousing D. Cross-docking E. Horizontal merchandising

Health clubs often use a low, introductory offer price to get people to join their club. These low prices represent a ______________ pricing strategy. A. maximizing profits B. target profit C. target return D. status quo E. sales orientation

If a telecommunications company drastically cuts the price for cellular phone service to eliminate local competitors, the company could be charged with A. loss leader pricing. B. bait and switch pricing. C. price fixing. D. unfair slotting. E. predatory pricing.

A(n) __________ is a supply chain whose members act like a unified system. A. vertical marketing system B. independent marketing system C. concentrated marketing system D. conventional marketing system E. strategic marketing system

Brands are assets that can be legally protected through A. copyrights and trademarks. B. financial reporting. C. brand extensions. D. generic branding. E. corporate branding strategies.

Laura prefers Sony products and will only purchase alternatives when there are no Sony products available. Laura's brand loyalty means she is most likely A. relatively insensitive to price. B. uninformed about the product category. C. product category committed. D. a brand equity investor. E. a savvy consumer.

Marvin is looking for data to help him with a new market research study assigned to him. When reviewing existing secondary data from a past research study, Marvin should pay careful attention to A. how the secondary data were collected. B. where the data were warehoused. C. whether the Bureau of the Census has certified the research. D. whether the data were transformed into information. E. how often primary data were substituted for secondary data.

One key feature of the value of a strong brand is that A. it can protect the firm from competition. B. it no longer needs to be supported by advertising and promotion. C. if it becomes a generic name, the brand is worth even more. D. it cannot be successfully imitated by a retailer's own brand. E. competitors will typically abandon a sector altogether rather than compete.

Shell MasterCard, created cooperatively by Shell Oil Company and Master Card, is an example of A. co-branding. B. brand extraction. C. brand collusion. D. a generic brand. E. brand dilution.

When conducting a research study attempting to understand what features were most important to automobile consumers, Gary's Research Company used a questionnaire containing __________ questions, with a predetermined set of response options. A. structured B. in-depth interview C. observational D. free-form E. unstructured

In a focus group, researchers usually videotape the session to A. evaluate the potential for in-depth interviews. B. assess both verbal and nonverbal responses. C. post the videos on the corporate website. D. avoid asking repetitive questions. E. create survey instruments to send to the participants.

assess both verbal and non verbal

A(n) __________ is a document used by a forklift driver, indicating how much of each item to get from specific storage areas. A. pick ticket B. warehouse receipt C. bill of lading D. certificate of origin E. RFID tag

A(n) __________ is the set of institutions that transfer the ownership of and move goods from the point of production to the point of consumption. A. marketing channel B. distribution center C. logistics chain D. strategic relationship E. electronic data interchange

Because there are many firms with similar products in purely competitive markets, A. price is determined by the laws of supply and demand. B. consumers develop personal preferences. C. firms find it easy to build strong, distinct brands. D. advertising is heavily used. E. the many competitors will focus on variable cost pricing.

Blogs represent valuable sources of marketing research insights, but they are also a challenge for firms because A. they include both positive and negative commentary. B. they are expensive for firms to use. C. they are affiliated with companies, which biases their comments. D. they tend to be shy about putting their opinions out in cyberspace. E. they are unreliable.

Brian is trying to sell a new line of ultrasound imaging equipment. Unlike existing technology, these machines are compact, creating the potential for general practice physicians to have and use them in their offices. Brian is trying to identify innovators in his market, knowing these customers will A. spread positive word of mouth to other physicians. B. buy one for each office in their practices. C. reposition his products. D. create demand among the late majority. E. not need any service or support when using the product.

Computer game companies constantly monitor computer game-related blogs keeping track of the latest hot products, because they know that their customers crave the latest and greatest games. They use this information to create new products that primarily provide the benefit of A. keeping up in a market where sales come mostly from new products. B. satisfying the changing needs of former customers. C. avoiding market penetration from products that have been on the market for a long time. D. creating diversification and reducing risk. E. taking advantage of a long product cycle.

Consumers might not realize that Old Spice health and wellness products and Iams pet nutrition products are made by the same company—Procter & Gamble. Old Spice and Iams are known as A. individual brands. B. family brands. C. corporate brands. D. traditional brands. E. registered brands.

Customers must see value in a product or service before they are willing to exchange time or money to obtain it, but not all customers see the same value in a product. To analyze how many units will be sold at any given price point, marketers draw on A. a demand curve. B. the law of averages. C. multiple regression analyses. D. target return strategies. E. a sales orientation.

Earl was known for driving 30 miles to save a dollar on the price for his favorite beverage. Earl perceived price as ________________, while most consumers recognize price as the ______________ made to acquire a good or service. A. money paid; overall sacrifice B. variable cost; fixed cost C. fixed cost; variable payment D. overall sacrifice; monetary payment E. break-even amount; price elasticity

Felicia had just taken over her family's business after spending ten years in the marketing department of a large corporation. She met with a representative from one of her firm's biggest customers, who told her, "We should think about how we can make the pie bigger rather than fighting over the size of the slices." She had expected a more cutthroat approach rather than this call for a A. partnering relationship. B. shared mission statement. C. common marketing system. D. corporate vertical marketing system. E. linked supply chain.

If the price for a product increases, the demand for the complementary product will A. decrease. B. increase. C. stay the same. D. become more elastic. E. become more inelastic.

In _______________, many firms provide similar products that are considered substitutes for each other. A. pure competition B. oligopolistic competition C. monopolistic competition D. a monopoly E. a duopoly

In many cases, pioneers lose their market lead and initial market share to imitators who A. capitalize on the pioneers' weaknesses. B. create similar products with reduced value to consumers. C. utilize alpha-beta testing. D. ignore patents and copyrights. E. target late maturity consumers.

In questionnaire design, a question such as, "Do anti-lock braking systems reduce car accidents?" suffers from the problem of a question A. that respondents cannot easily or accurately answer. B. that respondents are reluctant to answer because the information is sensitive. C. that steers respondents to a particular response. D. that asks two questions at once. E. that is one sided, presenting only one side of an issue.

Julia wants her firm's gourmet snacks to be the leading brand in the U.S. market. When adopting a pricing strategy designed to gain market share, she should remember that A. rarely is the lowest-price offering the dominant brand in a market. B. prestige products need to be competitively priced. C. companies can gain market share by offering low-quality products at a high price. D. total value equals total cost minus variable costs leading to price escalation. E. price wars are the way to become the dominant brand.

Julia's is an upscale women's clothing store. Prices are based on customers' beliefs about the value of the clothing. The store focuses on a limited target market and provides excellent customer service. Julia's is using a ________________ pricing strategy. A. customer-oriented B. target profit C. target return D. status quo E. maximizing profits

Marketers need to think about the product offer on three levels. Which of the following levels includes associated services such as warranties, financing, support, and after-sale service? A. augmented product B. core customer value C. actual product D. modified product E. core product

With a __________ pricing strategy, marketers set a low initial price for the introduction of a new product or service. A. market penetration B. bundling C. price fixing D. reference E. skimming

Marketers spend millions of dollars annually trying to create or reinforce brand loyalty. Brand loyalty changes the demand curve for the firm's products by A. reducing the price elasticity of demand. B. making demand more oligopolistic and less monopolistic. C. increasing the income effect. D. reducing fixed costs and increasing the gray marketing effect. E. shifting the market from a monopoly to pure competition.

Odd prices often suggest __________ to consumers. A. low quality B. superior quality C. uniqueness D. expired merchandise E. foreign-made goods

One of the key characteristics of brainstorming sessions is A. no idea is immediately accepted or rejected. B. everyone must come up with ideas. C. the first idea is almost always the best idea. D. only the marketing team is included in these sessions. E. the manager should always make the final decision.

One problem in relying on price elasticity and demand curves when setting prices is that A. the way a product or service is marketed can have a profound impact on price elasticity. B. the underlying ideas of the demand curve and elasticity are less relevant in the modern economy. C. only economists can properly analyze demand curves and set prices using this tool. D. competitors can construct the same demand curves, so there is no advantage in using them. E. marketing split from economics over the ideas of demand and elasticity.

Sophie made pies and sold them from her food trailer at businesses. This is an example of a(n) A. direct marketing channel. B. distribution center. C. simplified transaction. D. wholesale operation. E. indirect marketing channel.

Students of marketing often overlook or underestimate the importance of place in the marketing mix simply because A. it happens behind the scenes. B. it conflicts with promotion. C. it occurs after making pricing decisions. D. no one is directly in charge of place decisions. E. the product itself is so much more important.

Tess is the marketing manager for a fast food restaurant chain. She uses a target return pricing strategy because her firm's primary objective is to A. increase profits. B. increase sales. C. decrease competition. D. build customer satisfaction. E. broaden the product line.

To discourage consumers from buying in gray markets, some manufacturers have A. warned consumers that their warranty is null and void if purchased through a gray market supplier. B. shifted advertising resources from gray markets to black markets. C. increased the price to gray markets while maintaining existing prices to blue markets. D. petitioned government regulators to impose price controls. E. lowered the quality of their products to reduce gray market demand.

What type of pricing tactic is being used when several airlines agree to charge the same fare for a single route? A. Horizontal price fixing B. Vertical price fixing C. Horizontal price discrimination D. Vertical price discrimination E. Loss leader pricing

When Burroughs Wellcome introduced the first anti-AIDS drugs, it initially set the price at $10,000 for a year's supply. Burroughs Wellcome was probably pursuing a __________ pricing strategy. A. skimming B. introductory C. slotting allowance D. market penetration E. cost-based

When Cynthia's Boutique receives dresses, they already have price tags and are on hangers. Cynthia's Boutique receives __________ merchandise. A. floor-ready B. repurposed C. just-in-time D. quick response E. horizontal channel

When a company launches a new product line with an existing brand name, this is known as A. a brand extension. B. a line extension. C. a multi-brand. D. a new brand. E. co-branding.

When manufacturers try to understand what customers are looking for, they are thinking about the _______ component of the product offer. A. core customer value B. associated services C. augmented products D. product support E. quality level

When the company's dry goods deliveries were late for the third time, Melissa withheld payment from her supplier until it was back on schedule. This is an example of ________ power. A. coercive B. reward C. referent D. expertise E. legitimate

Which of the following adopter categories refers to the last large group of buyers to enter a new product market? A. Late majority B. Early majority C. Laggards D. Early adopters E. Innovators

Which of the following brand strategies is being used when the local ice cream shop decides to add a new flavor to its menu? A. a line extension B. a brand extension C. a copycat brand D. a premium brand E. a multi-brand

Which of the following is NOT one of the benefits to a firm of new product development? A. reduced costs of production. B. satisfying the changing needs of current and new customers. C. avoiding market saturation from products that have been on the market for a long time. D. creating diversification and reducing risk. E. keeping up in a market where sales come mostly from new products.

Which of the following is NOT one of the important functions of labels on products and packages? A. protecting against damage to the product B. providing consumer information to assist in purchasing C. identifying the brand and building brand image D. promoting the brand or complementary brands E. listing ingredients

Which of the following is most likely to be characterized by pure competition in the United States? A. soybeans B. cereal C. soft drinks D. computer operating systems E. fast food restaurants

Which of the following statements best describes secondary data? A. Secondary data are pieces of information that have been collected prior to the start of the focal research project. B. Secondary data are those data collected to address specific research needs. C. Secondary data collection is always extremely time consuming and expensive. D. Secondary data will always meet the researchers' needs. E. Secondary data includes only qualitative research.

With a pull marketing strategy, A. orders for merchandise are generated at the store level based on sales data captured at POS terminals. B. there is a greater likelihood of being overstocked or out of stock than in a push supply system. C. merchandise is allocated to stores on the basis of demand forecasts. D. inventory management is less responsive to customer demand. E. it is more difficult to manage conditions of high uncertainty than in a push supply chain.

96. Which of the following data sources would NOT be considered external secondary data? A. U.S. census data B. syndicated data C. newspaper articles D. scanner data E. a survey

A survey

Quantitative research offers a means to confirm ideas through A. surveys or experiments. B. in-depth interviews. C. data mining. D. qualitative research. E. informal analysis.

A; Quantitative research produces data that can be used to confirm ideas through statistical testing

Golf ball manufacturers use Iron Mike, a machine that swings a golf club at a constant velocity, to test the distance for new golf ball designs. When using Iron Mike, the manufacturers are engaged in A. concept testing. B. market testing. C. premarket tests. D. product development. E. alpha testing.

Alphs testing

Now that the consumer demand is building for Miranda's new organic shampoo, she and her team face a new set of decisions. Which of the following is NOT one of the decision items on the agenda for the team discussion of place in the marketing mix for a new product launch? A. How much should be shipped initially to the stores? B. Where should the merchandise be stored: at distribution centers or shipped directly to the stores? C. Which retailers are chosen to sell the product? D. Are the packaging colors working well with the target markets? E. Should the manufacturer be involved in reordering decisions?

Are the packaging colors working well with the target markets?

A _______________ is a facility for the receipt, storage, and redistribution of goods to company stores or customers. A. circulation center B. distribution center C. supply chain hub D. collaborative replenishment office E. floor-ready franchising center

A study found that, among addicted smokers, a 10 percent increase in the price of cigarettes resulted in a 2 percent decrease in quantity demanded. For these consumers, cigarettes have a(n) ________________ price elasticity demand. A. elastic B. inelastic C. cross-price D. income effect E. substitution effect

Brands can be owned by A. manufacturers only. B. any firm in the supply chain. C. retailers only. D. wholesalers and retailers only. E. only private label generic retailers.

Cross-price elasticity is the A. percentage change in quantity of a product demanded divided by the percentage change in its price. B. percentage change in quantity demanded of product A compared to the percentage change in price of product B. C. change in price of product A divided by change in quantity demanded for product B. D. change in quantity of a product demanded divided by the change in its price. E. change in quantity of a product demanded divided by the change in its elasticity.

Flora is frustrated with her company's supply chain management information system. She wants to be able to receive sales data, initiate purchase orders, send and receive invoices, and receive returned merchandise documentation. Flora needs a(n) A. cross-docking exchange. B. electronic data interchange system. C. floor-ready bundling system. D. vertical conflict reduction system. E. radio frequency identification system.

Gary is the marketing manager for an automobile dealership. His boss tells him the firm's primary goal is to increase its local market share from 15 to 30 percent. His firm is using a ________ orientation. A. profit B. sales C. competitive D. customer satisfaction E. product development

Getting merchandise floor-ready entails A. distributing and dispatching. B. ticketing and marking. C. vertical supply chain wholesaling. D. intensive cross-docking. E. selective checking.

Gray markets can be a challenge to marketers because A. they are just as illegal as black markets. B. they may tarnish the manufacturer's image. C. they are legal in some states and illegal in others. D. consumers are against them, but retailers support them. E. they may result in price increases across the board.

How is consumer panel data collected during the test marketing phase of a new product introduction? A. Panelists complete a questionnaire about the product. B. Panelists scan their receipts on a home scanning device. C. Stores provide sales data to companies. D. Consumers voluntarily go to a website to record their preferences. E. Focus groups are held in key markets.

In retailing, a just-in-time delivery system is called a _____________ system. A. cross-docking B. quick response C. UPC D. CPFR E. lead time

Jacob rents rooms in his hotel for an average of $100 per night. The variable cost per rented room is $20, to cover maid service and utilities. His fixed costs are $100,000 and his profit last year was $20,000. For Jacob, the contribution per unit is A. $100. B. $80. C. $800. D. $1,000. E. It cannot be determined from the information provided.

Many restaurants offer daily specials, appetizers, entrees, and desserts not listed on their standard menu. These daily specials primarily provide the new product benefit of A. keeping up in a market where sales come mostly from new products. B. satisfying the changing needs of current and new customers. C. avoiding market saturation from products that have been on the market for a long time. D. creating diversification and reducing risk. E. reduction in cost of ingredients.

Marketers advertising an artificially high regular price are unethically attempting to influence consumers'__________ perceptions. A. fixed price B. reference price C. seasonal price D. leader price E. cost-based price

Pioneer or breakthrough products A. will likely result in late maturity buying. B. can change consumer preferences. C. incorporate reverse engineering outputs. D. require the use of concept testing services. E. must be geographically centered.

When a restaurant chain, Big Burgers, launches its own brand of frozen meals, this is an example of a A. brand extension. B. line extension. C. licensed brand. D. copycat brand. E. premium brand.

Brand extension

Concept testing is important because it can A. help the firm to refine the promotional plans. B. lead to immediate rollout of the final product. C. help a firm avoid the costs of unnecessary product development. D. reduce the potential loss of sales during the decline stage. E. increase product development costs.

For marketers to advertise a price as their __________, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price. A. fixed price B. zone price C. regular price D. leader price E. cost-based price

If a firm in a purely competitive market can differentiate its product or service, it becomes part of a _______________ market. A. pure competition B. oligopolistic competition C. monopolistic competition D. monopoly E. duopoly

In a market with _______________, there are many firms providing differentiated products. A. pure competition B. oligopolistic competition C. monopolistic competition D. a monopoly E. a duopoly

Jalel is the marketing manager for a moderately well-known rock band. He wants to know more about industry trends, including sales by different musical styles, online downloads, and concert attendance. Jalel will most likely use __________ to gather this type of data. A. focus groups B. observation C. syndicated data D. sales invoices E. census data

Marketers selling milk, bread, and other consumer staples know most customers do not spend much time searching or comparing alternatives. For most consumers, these are _____________ goods. A. specialty B. shopping C. convenience D. ritual E. impulse

Microsoft's Windows operating system continues to dominate the market, even though it has been around for over twenty years. Windows will likely remain in the maturity stage of the product life cycle A. indefinitely. B. until it rules the world. C. until a superior product comes along to replace it. D. unless Microsoft repositions Windows as an introductory stage product. E. as long as the company doesn't change it.

Roland has just received notification from a vendor that his clothing merchandise order has been processed and dispatched. Roland has just received a(n) A. horizontal contractual notice. B. vendor-managed inventory alert. C. advanced shipping notice. D. universal product code report. E. CPFR tag.

The diffusion of innovation theory is useful to marketers in helping them A. adjust to the performance life cycle. B. avoid the cost of concept testing. C. predict which types of customers will buy their product immediately and later. D. predict how long it will take for a new product to gain market acceptance. E. forecast sales for a new product.

The process by which the use of a new product or service spreads throughout a market group is referred to as A. new product introduction. B. lead user dispersion. C. diffusion of innovation. D. the product life cycle. E. product development diffusion.

Today, when a customer orders merchandise from an online vendor, the vendor usually sends an immediate order confirmation message by e-mail. Usually within a day or two, a second message arrives stating that the order is in the mail. This second message is a type of A. vertical contractual notice. B. CPFR requirement. C. advanced shipping notice. D. universal product code report. E. RFID tag.

When supply chain members view their goals and ultimate success as intricately linked, or ________, they develop deeper long-term relationships. A. conventional B. vertical C. horizontal D. administered E. interdependent

Laptop computers, personal digital assistants, and cellular phones were all readily accepted and diffused in U.S. markets where business and personal lifestyles tend to be faster-paced, compared to many other areas in the world. These products offered __________ with consumers' needs and priorities. A. relative positioning B. compatibility C. observability D. complexity E. trialability

Compatibility

Companies that develop customized business software often work closely with their users when installing their products. This close contact often creates new product ideas through A. reverse engineering. B. licensing technology. C. customer input. D. R&D consortia. E. clinical trials.

Customer input

In addition to merchandise and payments, information flows throughout a supply chain. Which of the following is NOT a good characterization of the flow of information in a supply chain? A. A manufacturer will send and receive information from buyers, stores, and distribution centers. B. Stores will send and receive information from manufacturers, buyers, distribution centers, and customers. C. Distribution centers will send and receive information from stores and manufacturers. D. Customers will send and receive information from stores and manufacturers. E. Buyers will send and receive information from stores and manufacturers.

Customers

About 30% of packaged goods have lost content recently. How have consumers reacted? A. A number of lawsuits are pending. B. In a few cases, consumer outrage has caused manufacturers to go back to the original packaging. C. As long as the price is also reduced, they don't seem to mind. D. Most of the changes have gone unnoticed by consumers. E. Consumers have demanded that companies reduce their prices accordingly.

Andy likes gourmet popcorn and will spend time trying to find his favorite brand. His girlfriend, Joanne, loves popcorn but doesn't care about brands. For Andy, popcorn is a __________ good while for Joanne it is a __________ good. A. shopping; specialty B. convenience; shopping C. convenience; specialty D. specialty; convenience E. unique; universal

As soon as she saw one, Hillary wanted a flat-screen television, but she was worried about making the wrong choice. She waited until there were alternatives in the market with lower prices and improved quality. Hillary is part of the __________ diffusion of innovation group. A. innovator B. laggard C. late majority D. early majority E. early adopter

Assume the demand for electricity, a necessity with few substitutes, is -0.2. If the electric company raised its rates by 10 percent, we would expect A. a 10 percent decrease in quantity demanded. B. a 2 percent increase in quantity demanded. C. a 10 percent increase in quantity demanded. D. a 2 percent decrease in quantity demanded. E. a 5 percent decrease in quantity demanded.

Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because there were few places to dock these boats. Yachts and spaces to dock them are an example of A. substitute products. B. purely competitive products. C. status quo pricing products. D. complementary products. E. competitive parity products.

Colin has just received a delivery from the company's distribution center. He opens the containers and finds the popcorn and snacks are all bar-coded and priced, and the package includes an end-of-the-aisle display rack. Colin has received a __________ shipment. A. quick-response packaged B. ahead of the curve C. lead time synchronized D. floor-ready E. synthesized

Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can only market to his current customers or A. diversify. B. intensify his prototyping. C. expand his early adopter market segment. D. market the same products to similar customers. E. focus on concept testing.

If a firm declared that it wanted to develop a strategic relationship, but was unwilling to commit funds or any effort to make it succeed, there would be an obvious lack of A. mutual trust. B. common goals. C. a contractual arrangement. D. credible commitments. E. open communication.

Radio frequency identification tags are A. selective distribution designs used to maximize geographic efficiency. B. electronic discount information tags used to provide reduced prices to select customers. C. CPFR demand scheduling data tags. D. tiny computer chips that transmit information about a container's contents. E. information tags used for floor-ready merchandising.

Recently, the number of students enrolled in the marketing program dropped while enrollment in the psychology program increased. The chair of the marketing department will probably use __________ as a first step to gain a better understanding of why enrollments are changing. A. experimental research B. data warehousing C. syndicated data D. qualitative research E. structured questionnaires

Sharon knew that her established customers liked her product much better than her competitor's. She was planning to expand into new markets, and she was considering pricing. She was leaning toward charging a higher price than competitors to help demonstrate that hers was a high-quality product. Sharon was considering A. a top of market strategy. B. the value of quality. C. advantageous pricing. D. premium pricing. E. differential pricing.

Social media monitoring, in-depth interviews, and focus groups are all __________ research methods. A. quantitative B. data warehousing C. syndicated marketing D. qualitative E. structured

Steven managed an auto parts store in the 1990s. At that time, stock-outs—failure to have the parts auto mechanics needed to do their work that day—increased the likelihood of the mechanics becoming customers of competing auto supply stores. To avoid this problem and keep his business customers, Steven most likely A. canceled orders and shifted the business to competitors. B. increased promotional outlays to overcome customer dissatisfaction. C. used exclusive geographic territories to reduce supply chain inefficiencies. D. stockpiled inventory, adding to the cost of providing auto parts. E. returned to traditional distribution center logistics.

Stores like Home Depot and Costco act as wholesalers when they A. take delivery in whole-lot quantities. B. sell directly to consumers. C. sell products for distributors. D. sell to contractors or restaurant owners. E. compete with each other.

The diffusion of innovation theory focuses on A. the geographic boundaries of innovation. B. the relationship between pioneer brands and imitators. C. the psychological traits of innovators. D. the rate at which consumers are likely to adopt a new product or service. E. the way a product moves through the product life cycle.

What is a disadvantage of online focus groups, compared to offline focus groups? A. They are more expensive. B. They attract a limited group of participants. C. They generally take longer to conduct. D. They usually do not permit insights based on body language. E. They produce insights that are rarely taken seriously.

D. They usually do not permit insights based on body language.

The growth phase of the product life cycle is always dynamic. Which of the following does NOT occur in this phase? A. Profits increase as sales increase. B. Profits increase as economies of scale are attained. C. Some new competitors may enter the market with similar products. D. Some competitors will exit in an industry shakeout. E. Price competition with protracted price wars erodes profits.

Supermarkets collect information about individual customers through their use of loyalty cards and then analyze the data to look for patterns in purchases. This is an example of A. data mining. B. data recovery. C. data entry. D. data analysis. E. data modeling.

Data mining uses a variety of statistical analysis tools to uncover previously unknown patterns in the data or relationships among variables.

A _________________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels, so that the price level that produces the highest return can be chosen. A. sales orientation B. target profit C. target return D. status quo E. maximizing profits

A demand curve shows the relationship between ___________________ in a period of time. A. income and demand B. demand and cost C. price and elasticity D. profit and price E. price and demand

Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price A. penetration. B. bundling. C. fixing. D. referencing. E. skimming.

If the __________ diffusion of innovation group is relatively small, the number of people who ultimately adopt the innovation likely will also be small. A. innovator B. laggard C. late majority D. early majority E. early adopter

If the fixed costs of manufacturing a new cell phone are $10,000, the sales price is $60, and variable cost per unit is $20, the break-even point is A. 100 units. B. 4,000 units. C. 20 units. D. 1,000 units. E. 250 units.

In a(n) __________ marketing channel, none of the participants has any control over the others. A. cooperative B. corporate C. contractual D. administered E. conventional

Retailers often perform ticketing and marking functions in their distribution centers rather than in their retail stores because ticketing and marking is often A. the responsibility of the dispatcher. B. too complex for sales personnel to manage. C. done in conjunction with supply chain promotional allowances. D. the responsibility of the logistics department and not the marketing department. E. inefficient and expensive.

Samples are often used for new products when __________ will influence the diffusion of the product. A. relative advantage B. compatibility C. observability D. complexity E. trialability

The most common type of contractual vertical marketing system is a A. wholesaler. B. joint venture. C. licensing arrangement. D. partnership. E. franchise.

Which of the following is NOT an advantage of using a distribution center? A. More accurate sales forecasts are possible. B. Retailers need to keep less merchandise in the store as inventory if the stores get frequent deliveries. C. It is easier to avoid running out of stock or having too much stock. D. Use of a distribution center saves money since the storage space at a distribution center is generally less expensive than that of a store. E. Customers know they are dealing with a more sophisticated and financially well-off operation if the firm uses a distribution center.

Which of the following would NOT be part of the launch of a new product? A. educational efforts for complex or conceptually new products B. technical support staff for technical products C. determining the price for the product D. incentives for distributors E. starting to make preliminary decisions about the target market

__________ price fixing occurs when competitors collude to control prices, and __________ price fixing occurs within a marketing channel to control prices passed on to consumers. A. Industry; supply chain B. General; specific C. Widespread; integrated D. Strategic; tactical E. Horizontal; vertical

Digital billboards embedded with ________ software can identify passersby and then display ads targeted to them, based on their age, gender, and attention level. A. social media B. neuromarketing C. facial recognition D. Internet tracking E. data mining

Facial recognition

Which of the following is LEAST likely to be a source of ideas for new products? A. R&D efforts B. licensing technology C. consumer research D. geodemographic segmentation E. brainstorming

Geodemographic

In what country have regulators demanded that Facebook stop collecting biometric data on its users? A. the United States B. Russia C. China D. Germany E. Mexico

Germany

Assuming that a market research study will answer important questions and reduce uncertainty associated with the proposed project, a major question that needs to be addressed before starting the study is: A. How will the results be presented? B. Will observational research be considered intrusive? C. Is top management committed to the study? D. How will the questions be defined? E. Who will manage the research?

Is top management committed to the study?

______________ systems are designed to deliver smaller shipments of merchandise on a more frequent basis to retailers. A. Cross-docking B. UPC C. JIT D. CPFR E. Lead time

JIT

Bob and George live in the United States. Bob recently asked for George's cell phone number, but George said he didn't have one. George would probably be considered a(n) __________ in the diffusion of innovation process. A. innovator B. laggard C. late majority D. early majority E. early adopter

Laggard

By the time BMW got into the mini-SUV market, sales had leveled off and were even starting to decline. BMW had to target its marketing efforts toward the __________ diffusion of innovation group. A. innovator B. laggard C. late majority D. early majority E. early adopter

Late majority

The __________ diffusion of innovation group is the last large group of consumers to adopt a new product or service. A. innovator B. laggard C. late majority D. early majority E. early adopter

Late majority

If a few of Nintendo's customers are asked to try out a new video game that has not yet been released on the market, this is an example of A. beta testing. B. market testing. C. premarket tests. D. test marketing. E. concept testing.

beta

_______ pricing tactics lower the price of a product below cost. A. Fixed B. Zone C. Regular D. Loss leader E. Cost-based

Loss leaders

For new product marketers, early adopters are important because they tend to be A. few in number. B. the first to adopt a new product. C. opinion leaders. D. fond of prototypes. E. alpha testing enthusiasts.

Opinion leaders

Which of the following statements is NOT one of the guidelines provided by the American Marketing Association for conducting marketing research? A. Personal information about research participants should not be shared, EXCEPT with a designated member of senior management. B. Selling or fundraising should not be conducted under the guise of conducting research. C. Researchers should not misrepresent data. D. Clients and suppliers should be treated fairly. E. Researchers should not omit pertinent data.

Personal information about research participants should not be shared, EXCEPT with a designated member of senior management.

When the market research problem is not clearly defined, a researcher will likely engage in __________ research. A. data mining B. qualitative C. survey D. quantitative E. experimental

Qualitative research can be conducted to investigate the research problem to gain preliminary insights.

In the infamous Coke-New Coke taste test, 54 percent of consumers, using a blind taste test, preferred the New Coke formula to the existing formulation. This is an example of a(n) __________ market research method. A. qualitative B. quantitative C. observational D. syndicated E. invalid

Quantitative research is numeric/statistical in nature, as in this case where the precise percentage of consumers preferring one option to the other was measured.

A(n) __________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products. A. facilitating payment B. introductory price promotion C. slotting allowance D. stocking premium E. place holder

Slotting allowance

Commercial research firms like ACNielsen and SymphonyIRI Group are sources of A. primary data. B. internal secondary data. C. data mining. D. syndicated data. E. public data.

These are sources of syndicated data—secondary data that can be purchased from firms that collect it.

A restaurant chain is working to improve the quality of its food and service. It recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years, to track its progress. What kind of data is the restaurant chain collecting? A. panel data B. internal secondary data C. focus group data D. external secondary data E. scanner data

This is an example of using a panel—a group of consumers who provide information over a period of time. These are primary, not secondary, data because the data are being collected specifically to measure progress in improving satisfaction.

How might a book publisher use blogs in its marketing research efforts? A. as a place to report marketing research results to top management B. as a source of reviews of its latest releases C. as a location for holding online focus groups about its books D. as a location for conducting online experiments about book purchasing patterns E. as a substitute for large-scale surveys about future book topics

as a source of reviews of its latest releases

When conducting a survey about choosing vacation destinations, Hillary will need to __________ to get reluctant respondents to provide honest information. A. choose only highly verbal consumers B. assure consumers that their individual responses will be kept confidential C. use only focus group interviews D. ask unstructured questions E. create an efficient data warehouse

assure consumers that their individual responses will be kept confidential

If many consumers in the marketplace are familiar with a brand and what it stands for and have an opinion about the brand, the brand has considerable A. awareness. B. equity. C. extension. D. integration. E. co-branding.

awareness

A major advantage of primary data collection is that A. it can be easily accessed through syndicated databases. B. it can be tailored to meet the specific research needs. C. it takes less time to collect than secondary data. D. it is general enough to meet many researchers' needs. E. all of these are advantages of primary research data.

A reference price is A. the actual price. B. the price against which buyers compare the actual selling price. C. the manufacturer's cost. D. a cumulative quantity discount price. E. the external horizontal fixed price.

A strategy of setting prices based on how customers develop their perceptions of value can often be the most effective pricing strategy, especially if the strategy A. leads the marketer to being the low-cost seller. B. is supported by consistent advertising and distribution strategies. C. challenges consumers to discard their perceptions of value. D. is consistent with a competitive target return strategy. E. is measured against the competition.

Because manufacturers with JIT systems produce merchandise closer to the time of sale, they can A. organize cooperative agreements among competing manufacturers to reduce oversupply. B. reduce inventories needed to satisfy retailers' demand. C. use exclusive geographic territories to centralize production. D. effectively eliminate the need for a dispatcher. E. replace independent supply chains with corporate supply chains. Manufacturers using JIT systems can manufacture products closer to the time when they will be sold and shipped to retailers, thus reducing inventory levels needed, since it is no longer necessary to manufacture far in advance and stockpile goods.

Both major political parties have developed proprietary databases that contain vast information about voters, broken down by demographic and geographic information. This kind of information is A. primary data. B. secondary data. C. syndicated data. D. neuromarketing. E. qualitative research.

Even if they succeed, new-to-the-world products are A. not always profitable. B. not adopted by everyone at the same time. C. sometimes copycat brands. D. not subject to the law of first movers. E. typically very short-lived.

Some credit cards provide free liability insurance, funded by the bank issuing the card, when a customer pays for a rental car using the card. This extra insurance is an example of A. product style. B. the actual product. C. an associated service. D. the product position. E. the core value.

Frank's Heating and Air Conditioning Company specializes in electric heat pumps. Frank keeps track of the price of natural gas, knowing that A. natural gas creates more environmental greenhouse effects than coal. B. an increase in the price of natural gas will increase demand for his electrical heating systems. C. gas heating systems and electrical heating systems are complementary goods. D. when the price of natural gas goes up, the quantity demanded also rises. E. the demand for natural gas is price elastic.

If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is A. cross-price elastic. B. price inelastic. C. price elastic. D. status quo elasticity. E. derived demand inelastic.

In a retail supply chain, the ________ records the purchase information and electronically sends it to the corporate office. A. UPC B. POS terminal C. aggregate D. ASN E. data warehouse

Marketers spend billions of dollars annually attempting to build effective brands. One basic benefit of a brand is that it A. creates a basis for effective packaging. B. provides a way for a firm to differentiate its product offerings from competitors. C. offers consumers promotional parity. D. allows manufacturers to capitalize on promotional expenditures. E. reduces the need for product line depth.

Marketers with successful brands sometimes hesitate to expand their brands because A. Federal Trade Commission regulations limit the number of products that can be marketed under an individual brand name. B. it is costly to maintain many product lines, and it might weaken the brand's meaning. C. it is often difficult to get additional marketing communications coverage for the brand. D. manufacturing divisions usually control brand expansion and are often in conflict with the marketing division. E. the current economy can only support a limited number of product options.

Marlie designs and manufactures specialty furniture. She has a number of unique products but can only produce in limited quantities. Marlie will probably NOT use a market penetration strategy because A. there are few barriers to competitive entry in the market. B. she could not meet a rapid rise in demand. C. a low price would indicate low quality. D. she would have to determine zone pricing discounts. E. the experience curve effect would drop unit costs too rapidly.

Omar is responsible for marketing and marketing research for a mid-sized manufacturer of assemblies for the housing market. His boss has asked him to cut back expenses, especially in marketing research: "Why can't you just use information off the Internet? There's plenty out there." What is Omar's best response to try to get his boss to change his mind? A. "We can try, but if it's wrong it's not my fault." B. "Those are secondary data, and they may not be as timely, accurate, and relevant as what we need. Our decisions may not be as good, and we'll run a huge risk." C. "I'd rather not use any data at all than use secondary data." D. "This is a matter of principle. I quit." E. "You should never use any information from the Internet in marketing research."

One reason auto companies spend millions on racing cars is that they offer the opportunity to test new designs and technology under extreme conditions. Car racing provides an opportunity for A. pretesting. B. beta testing. C. test marketing. D. alpha testing. E. concept testing.

Price is often the most challenging of the four Ps to manage, partly because it is often ______________ in developing marketing strategies. A. the least important aspect B. treated as an afterthought C. calculated by senior consultants D. difficult to calculate markups E. the subject of cross-shopping differentiation

The basic reason manufacturers spend time and money building their own brands is to A. create brand awareness. B. build brand equity. C. offset the power of private label manufacturers. D. create positioning possibilities for their generic product lines. E. maximize product line depth.

The major objectives associated with a market penetration pricing strategy are to A. capture the high end of the market demand curve and lower introduction costs. B. quickly build sales and market share. C. minimize customer dissatisfaction and maximize reference price value. D. provide an incentive to purchase a less desirable product to obtain a more desirable product. E. match competitors' prices and communicate high quality.

The manager of a company selling cellular phones in rural U.S. markets asks you to conduct survey research into the question, "What percentage of people in Kansas live in communities of fewer than 10,000 people?" The problem with this research objective is that A. it is irrelevant to the cellular company. B. it is already known and available from the U.S. Bureau of the Census. C. it will lead to a set of unstructured questions. D. it is a research question that probably cannot be answered with any level of accuracy. E. it is too expensive to determine the answer.

Whether they like them or not, most U.S. automobile customers are familiar with and have an opinion about American-made cars. This familiarity makes it easier for consumers to A. meet their self-actualization needs. B. make purchase decisions. C. consider repositioning their opinions. D. pursue generic alternatives. E. negotiate discounts.

Why would a firm spend over $2 million for a 30-second ad on television during the Super Bowl? A. because of the annual competition for the most creative Super Bowl ad B. because the Super Bowl offers an opportunity to create significant brand awareness C. because the Super Bowl is a significant opportunity to be associated with global marketing D. because Super Bowl ads generate brand loyalty E. There is no good reason to spend over $2 million for a Super Bowl ad

Yesterday, Lorinda overheard a surprisingly unpleasant encounter between the manager of the hardware store where she works and a sales rep who sells a well-known line of tools. The rep insisted that his tools should be more prominently displayed and that a better assortment would mean more sales. The manager had other plans and told him so, and the conversation turned into a loud argument. What Lorinda observed was an example of A. sales tactics. B. channel conflict. C. retail strategy tension. D. passive aggressive behavior. E. a failure of CPFR processes.

_________________ measures consumers' sensitivity to price changes. A. Cross-price elasticity of demand B. Price elasticity of demand C. Income elasticity of demand D. Competitive profit elasticity of demand E. Inelastic demand price parity

If a fast food restaurant collected photographs of its regular customers so that it could use facial detection software to identify visitors captured by security cameras, this would be an example of using A. external secondary data. B. biometric data. C. social media monitoring. D. illegal surveillance methods. E. sentiment mining.

biometric data; include one or more physical traits such as facial characteristics, iris scans, or fingerprints.

The pharmaceutical industry often justifies the high prices for new drugs by arguing that it researches as many as one hundred new compounds before it comes up with one __________, an extremely successful product that pays for the costs associated with the other attempts to develop new products. A. standout B. blockbuster C. first mover D. pioneer E. premium product

blockbuster

Jake developed a toothpaste using only natural ingredients, and he has been quite successful selling the product in health food stores and some grocery stores. He has recently developed a toothbrush using bamboo and natural components. Jake is considering a __________, giving the toothbrush the same brand name as the toothpaste to have greater brand awareness. A. co-brand B. brand extension C. premium brand D. joint brand E. natural brand

brand extension

27. If a firm has demographic and purchasing information about its customers, the firm can use data mining techniques to A. understand psychographic motivations. B. create marketing mixes based on consumer self-values. C. build separate marketing programs for different demographic segments. D. determine which syndicated data warehouse services to purchase. E. find out which competitors its customers purchase from.

build separate marketing programs for different demographic segments.

A demand curve is built assuming that A. income is derived from demand. B. price remains the same, and fixed costs change. C. everything but price and demand remains the same. D. a change in quantity demanded causes a change in price. E. the firm does not advertise.

Barbara is using a test model of her firm's new inline skates to see whether they work according to the design specifications. Barbara is involved in A. test marketing. B. product launch. C. alpha testing. D. product development. E. concept testing.

Before deciding on a new promotional campaign, Jeffrey's Muffins looked at its customers' buying patterns over a 15-year period as determined by their use of a loyalty card. What method did Jeffrey's use to make sense of the data that was available? A. biometrics B. neuromarketing C. data mining D. data warehousing E. panel data

Bill desperately needed tires for his car, and he found an ad with an incredibly low price. When he got there, he found out that those had been sold out, and he was pressured into buying tires that were more expensive than he wanted. Bill found out later that Marcelo had had the same experience at the store a few weeks earlier. It's quite possible that both Bill and Marcelo had become the victim of a deceptive pricing tactic known as A. loss leader pricing. B. desperation selling. C. bait and switch. D. off-season deceptions. E. inventory reduction pricing.

Brand extension is a popular marketing strategy because A. it separates out the cost of brand extension from brand intention. B. it allows the firm to discontinue complementary products. C. the firm can spend less on creating brand awareness and associations. D. it avoids the problem of brand dilution. E. it guarantees success for a new product.

During the __________ stage of the product life cycle, sales peak and profits begin to decline as competition becomes intense. A. introduction B. leveling C. maturity D. growth E. decline

For many years, General Electric's corporate strategy was to be among the top three firms in any market in which it operated; if it could not achieve a top-three position, it would exit the market. This strategy often resulted in the company __________ when certain product lines failed to meet this expectation. A. increasing product line depth B. decreasing product line depth C. decreasing product mix breadth D. increasing product mix breadth E. introducing brand extensions

Franchising involves a(n) __________ vertical marketing system. A. cooperative B. corporate C. contractual D. administered E. conventional

If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is A. cross-price elastic. B. price inelastic. C. price elastic. D. status quo elasticity. E. derived demand inelastic.

In an administered vertical marketing system, A. no individual participant has control over the others, since a third party administrator oversees the entire supply chain. B. transaction selling is the norm, with the invisible hand guiding the overall functioning. C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. D. independent firms join together formally to decide as a group how the marketing channel will operate. E. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.

Many years ago Honda's Accord and Ford's Taurus were the top two selling cars in the United States. As the year was coming to an end, Ford cut the price of the Taurus, hoping to outsell the Accord and allow Ford to claim that "Taurus is the best-selling car in America." Ford was using a ___________________ pricing strategy. A. maximizing profits B. target profit C. sales orientation D. status quo E. target return

Marketers with luxury brands use brand extension cautiously to avoid A. brand licensing fees. B. exclusive co-branding arrangements. C. diluting the core brand. D. private label branding disputes. E. product line extension limitations.

One of the disadvantages of secondary research is ______, whereas one of the disadvantages of primary research is often ________. A. cost; outdated information B. time required for collection; sources not original C. potential bias; cost D. outdated information; information not relevant to data needs E. sophisticated training required to obtain it; potential bias

One of the potential benefits to a firm of introducing new-to-the-world products or services is A. cost savings. B. late majority marketing. C. establishing a completely new market. D. the ability to avoid paying pioneers for new product development. E. capitalizing on existing consumer preferences.

The Eiger Labs MPMan was the first mass-produced MP3 player sold in the United States. Eiger Labs was a(n) __________ in the MP3 player market. A. blockbuster B. early adopter C. pioneer D. market tester E. concept tester

The basic motivating factor in designing supply chains is that A. collaboration creates transactional relationships. B. the most powerful member of the supply chain always wins. C. each party wants something from the others. D. the participants must create the best possible EDI system. E. retail floor salespeople need emotional support from management.

The contribution per unit is A. price minus total costs. B. price minus total variable cost. C. price minus variable cost per unit. D. total revenue minus total cost. E. break-even quantity divided by total fixed costs.

The local auto supply store gets merchandise delivered to it by its manufacturers as soon as it has a need, reducing stockouts with minimal inventory. This demonstrates the concept of A. data warehousing. B. a push marketing strategy. C. vendor-managed inventory. D. manufacturer-managed distribution. E. cross-docking.

The value of a brand is often calculated by assessing the A. difference between brand equity and brand liability. B. corporate profitability divided by the monthly brand earnings. C. earning potential of the brand over the next 12 months. D. effect of brand dilution if it occurred. E. average product line depth.

What is neuromarketing? A. The analysis of consumer comments on social media to understand consumers' thoughts and opinions. B. The use of psychological principles to design marketing research studies. C. The use of EEG scanners to measure consumers' brain waves. D. The use of neural networks to perform data mining and develop marketing insights. E. The use of in-depth interviews to map detailed networks of information storage in the brain.

When McDonald's comes up with a new drink or sandwich for its restaurants, it often markets it in a dozen or so of its outlets. When the company does this, it is engaged in A. pretesting. B. product launch. C. test marketing. D. product development. E. concept testing.

When consumers are __________, observation becomes particularly useful in understanding consumers' preferences. A. unwilling to participate in research B. confused by questionnaires C. unable to articulate their experiences D. interviewed too frequently E. highly educated

When firms set prices similar to those of competitors, they are following a strategy of A. me-too pricing. B. copycat pricing. C. competitive parity. D. market-broadening pricing. E. industry-standard pricing.

Which of the following is true about quantitative research? A. It is always conducted using primary data collection. B. It revises the research objective based on data mining. C. It confirms insights and provides a basis for taking a course of action. D. It offers conclusions that are always correct. E. It includes focus group interviews.

Which of the following markets is MOST likely to be characterized by oligopolistic competition in the United States? A. soybeans B. pens and pencils C. soft drinks D. men's clothing E. electrical service to the home

Yurgen is opening a financial consulting service for high-income retirees in his area. This target market is used to paying for quality and associates high quality with high prices. Yurgen should probably NOT use a market penetration pricing strategy because A. he might be missing out on customers who would pay more for his products. B. there are moderate barriers to competitive entry in the market. C. a low price might signal low quality. D. he would have to determine zone pricing discounts. E. the experience curve effect would drop unit costs too rapidly.

The number of customers who discontinue their use of a service divided by the average number of total participants is called A. churn. B. customer retention. C. customer lifetime value. D. cancellation cost. E. customer loyalty.

churm

The owner of A. C. Flora Ford Dealership wanted to know why consumers chose his company to purchase a car. He was fairly sure that most customers had one of three reasons—service, reputation, or location—but wanted to know which was revealed as the most frequent reason for purchasing. A. C. Flora will probably use a survey with __________ questions to address his research problem. A. observation-based B. open-ended C. experimental D. closed-ended E. unstructured

close ended

Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company. They have worked with the marketing manager to determine the answers that are needed and have created a detailed design of the project. Their next logical step will be to A. develop a budget. B. begin to collect data. C. summarize their preliminary conclusions to present to managers. D. begin recommending changes to the new product line based on ideas developed in the design phase. E. analyze the data.

collect data

A major limitation in the use of internal R&D departments for new idea generation is that A. few scientists have ideas. B. they tend to be dissolved once sufficient ideas have been generated. C. they tend to create too many blockbusters. D. few scientists have practical ideas. E. the costs tend to be quite high.

cost high

A customer orientation toward pricing implicitly invokes the concept of A. knowing the dimensions of the target market. B. positioning. C. the income effect. D. value. E. profit.

Although conflict is likely to occur in any supply chain, it is generally more pronounced when A. the supply chain members are geographically too close to each other. B. manufacturers pressure retailers. C. retailers pressure manufacturers. D. the supply chain members are independent entities. E. the economy is booming.

Brand dilution occurs when A. customers see the fit between products sharing the same brand name. B. there are too few products and product categories. C. new brands compete with existing brands. D. brands are overextended and customer perceptions about the core brand are adversely affected. E. brand names seem too old-fashioned or familiar.

Another name for a manufacturer's brand is a(n) __________ brand. A. systematic B. extended C. national D. premium E. private-label

national

By adding new product lines beyond its core business of computer software, like the Zune MP3 player and Xbox 360 game system, Microsoft primarily benefits by A. keeping up in a market where sales come mostly from new products. B. satisfying the changing needs of the technological research staff. C. avoiding market saturation from products that have just been introduced to the market. D. creating diversification and reducing risk. E. spreading out production costs.

Cathy has used Olay beauty products for years, even though there are many competitors on the market. She plans to purchase a recently introduced micro-sculpting cream from Olay's regenerist line. Olay is in the _________ stage of the product life cycle. A. introduction B. growth C. evaluation D. maturity E. decline

Firms that use the same brand name for new products can spend relatively less on marketing costs for the new product because A. brands protect corporate copyrights. B. consumer loyalty can be bought for less now compared to the past. C. brand equity can only be obtained by means of product line depth. D. people already know what the brand means. E. well-known brands are less likely to introduce brand extensions.

In many high-end resort markets, Westin hotels compete directly with Crown Plaza hotels. Each firm weighs the comparative advantages and disadvantages of its offerings to determine whether to price above, equal to, or below the other hotel. In these markets, the hotels are using a _______________ pricing strategy. A. maximizing profits B. target profit C. target return D. competitive parity E. sales oriented

One of the limitations associated with break-even analysis is that A. it assumes fixed costs are zero. B. it cannot adjust for high variable costs. C. it only tells marketers what price is needed to break even. D. it assumes that there is only one price. E. it assumes that demand is extremely inelastic.

The __________ occurs when unit cost drops as the quantity sold increases. A. slotting allowance benefit B. price fixing return C. improvement value effect D. experience curve effect E. cumulative bundling benefit

The break-even point is estimated by A. multiplying revenue per unit times the quantity sold. B. dividing fixed contribution per unit by variable costs. C. multiplying fixed costs by contribution per unit. D. dividing fixed costs by contribution per unit. E. dividing variable costs by fixed costs.

When Dr. Putt invented his Eye-Over-the-Ball (EOB) golf putting device, he knew during the introductory stage A. sales would rise quickly, profits would jump, and even laggards would buy his product. B. sales would level off, profits would decline, and mature golfers would be attracted to his product. C. sales would slow down, profits would peak, and early adopters of golf equipment would be his major customers. D. sales would be low and profits nonexistent, but he would attract golf equipment innovators. E. sales would be low, profits would be high, and all potential golfers would jump at the opportunity to buy his product.

When a product is successful in the introductory stage of the product life cycle, A. it moves directly into the maturity stage. B. it is most likely to begin to launch spinoffs. C. competition becomes less important. D. it may start to see profits toward the end of this stage. E. marketing costs increase significantly.

When consumers associate a brand with a certain level of quality and familiar attributes, allowing consumers to make quick decisions, the brand A. establishes novelty. B. is the only one the consumer will consider. C. reduces delivery costs. D. facilitates purchasing. E. creates brand dilution.

Which of the following is NOT one of the five Cs of pricing? A. customers B. channel members C. cost D. collaboration E. company objectives

________ can be defined as raw numbers or other factual information that, on its own, has limited value. A. Statistics B. Charts and graphs C. Marketing research D. Formulas E. Data

data

Through analysis of sales data, Price-Cutters retail store found that customers who bought peanut butter also tended to buy bananas. Price-Cutters was engaged in A. syndicated surveying. B. focus group analysis. C. behavioral analysis. D. data mining. E. structured sampling.

data mining

During the ___________ stage of the product life cycle, firms either position themselves for a niche market of loyal consumers or they exit the market. A. introduction B. leveling C. maturity D. growth E. decline

decline

A no-haggle pricing policy is a type of _______________ pricing strategy. A. maximizing profits B. sales orientation C. target return D. status quo E. customer-oriented

Historically, prices were A. the center of attention in almost all marketing strategies. B. analyzed and changed constantly. C. calculated to minimize contribution per unit. D. allowed to vary seasonally as cross-shopping tendencies fluctuated. E. rarely changed except in response to radical shifts in market conditions.

In a corporate vertical marketing system, A. conflict tends to be a major problem. B. transaction selling is the norm, with the invisible hand guiding the overall functioning. C. there is no common ownership, and the dominant member has significant power to impose its ideas and objectives. D. independent firms join together formally to decide how the marketing channel will operate. E. participants—such as warehouses, transportation companies, and retail outlets—are typically owned by a parent company to ensure harmonious relations throughout the supply chain.

Many former Enron professionals who had nothing to do with the corporate scandal found that listing employment with Enron hurt their chances of being hired elsewhere. For these people, the Enron name has A. no brand associations. B. unspent brand loyalty. C. private label impact. D. brand dilution. E. negative brand equity.

Paul listens to music on his iPod and iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the __________ stage of the product life cycle. A. introduction B. growth C. evaluation D. maturity E. decline

Salina is working to create greater brand awareness for her company's new line of personal digital assistants. To increase brand awareness, the LEAST important information that should be included in promotions is A. the brand name. B. the logo. C. the packaging. D. the slogan. E. the product history.

The commercial airline industry is considered what type of market? A. duopoly B. monopoly C. monopolistic competition D. pure competition E. oligopolistic competition

The potential benefits of brand extension do NOT include A. allowing the perception of a brand with a quality image to be carried over to the new product. B. lowering marketing costs. C. boosting sales of the core brand. D. spending less on creating brand awareness and associations. E. eliminating competition.

Which of the following is NOT true regarding secondary packaging? A. It can provide information to consumers not found on the primary packaging. B. It is important to the retailer in terms of convenience in handling. C. It can be an important positioning tool to convey the brand image. D. It can allow for cost efficiencies due to larger order and shipment sizes. E. It is of little value to the average consumer.

Which of the following scenarios is NOT a reason a firm would eliminate an item within a product line? A. The firm decided to refocus marketing efforts elsewhere. B. The firm must respond to evolving markets. C. The product undermined its own brand. D. The product being eliminated is unprofitable. E. The firm has decided to capture new markets.

With a _______ marketing strategy, there is less likelihood of being overstocked or out of stock because the store orders merchandise as needed on the basis of consumer demand. A. consignment B. push C. vendor-managed D. manufacturer-managed E. pull

________ power is based on getting a channel member to behave in a certain way because of a contractual agreement. A. Coercive B. Reward C. Referent D. Expertise E. Legitimate

Robin recently bought Voice over Internet Protocol (VoIP) phone service. A few of Robin's friends bought VoIP before she did, but many other friends were interested in Robin's opinions of the new phone service. Robin is a(n) __________ in this product category. A. innovator B. laggard C. late majority D. early majority E. early adopter

early adopter

The __________ diffusion of innovation group is crucial because few new products can be profitable until this large group buys them. A. innovator B. laggard C. late majority D. early majority E. early adopter

early majority

Brand __________ is the set of assets and liabilities linked to a brand that add to or subtract from the value provided by the product or service. A. positioning B. licensing C. association D. equity E. solvency

equity

__________ research is a type of quantitative research that manipulates variables to help determine cause and effect. A. Descriptive B. Syndicated C. Manipulative D. Focus group E. Experimental

experimental

Which of the following types of research would be considered quantitative research? A. Experimental research B. Observational research C. Focus group research D. Social media monitoring E. In-depth interviews

experimental research

Charles wants to survey recent customers about the quality of service they received at his small auto service dealership. He has customers' mailing and e-mail addresses. Charles will likely use an online survey primarily because it offers A. relatively low response rates. B. the ability to share video with respondents. C. the ability to ask sensitive questions with anonymity. D. fast responses at a lower cost. E. the opportunity to survey both existing and potential customers.

fast responses at a lower cost.

A(n) __________ is a small group of people brought together for an intensive discussion of a topic. A. focus group B. social media site C. experiment D. data mining session E. in-depth interview

focus group

Martin has hired a market research company to bring together a small group of soft drink consumers and get feedback on the three new advertising slogans his firm is considering. The market research firm might conduct a(n) __________ to provide the information Martin has requested. A. industry survey B. experiment C. focus group D. observational study E. primary data mining analysis

focus group

Tyree is concerned about a competitor's new line of outdoor barbeque grills that provide most of the same features as his products. Tyree might consider using __________ to gather qualitative information from consumers about the competitor's offerings. A. industry surveys B. experiments C. focus groups D. observation E. primary data mining

focus groups

Procter & Gamble is a huge national brand manufacturer. By having leading brands like Tide and Crest, P&G A. can monopolize store brands. B. has greater opportunity to dictate retail pricing. C. has greater control over marketing strategy. D. can increase brand dilution. E. can eliminate any local competition.

greater control over marketing strategies

During the __________ stage of the product life cycle, there are few but an increasing number of competitors. A. growth B. introduction C. maturity D. decline E. innovation

growth

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. A. introduction B. leveling C. maturity D. growth E. decline

growth

Victor's custom auctioneering service provides online auction selling assistance. Victor plans to conduct marketing research to determine which auction site is best for his customers. His next step is to A. identify the type of data he needs to have. B. determine the statistical software he will use. C. outline the presentation format he will use. D. collect data. E. define his privacy policy.

identify th type of data he needs

Nadia stood outside the mall and asked people which stores they visited and if they bought anything. If they said yes, she asked them what they bought and how they came to the decision to buy that item. What form of research was Nadia most likely conducting? A. questionnaire B. in-depth interviews C. experiment D. focus group E. biometrics

in depth interview

Randall wants to do an online survey of college professors about the factors that influence their textbook selection. He would like to use a structured survey but is not sure what responses to include for each question. Randall could use __________ to help him develop his survey. A. in-depth interviews B. experiments C. surveys D. observation E. primary data mining

in depth interviews

Using __________, researchers ask questions, listen to and record responses, and ask additional questions based on initial responses. A. questionnaires B. experiments C. in-depth interviews D. primary data mining E. observation

in depth interviews

Zan wants to collect considerable information about the current opinions of his ten most important customers. Zan will probably use the __________ research method. A. social media monitoring B. experimental C. in-depth interview D. primary data mining E. observation

in depth interviews

Whenever Donald considers upgrading his personal computer system, he consults with Jeremy, a knowledgeable friend who always has the newest technology. For Donald, Jeremy is a(n) __________ in the diffusion of innovation curve. A. innovator B. laggard C. late majority D. early majority E. early adopters

innovater

__________ is the process by which ideas are transformed into new products and services that will help firms grow. A. Beta testing B. Concept testing C. Innovation D. Reverse engineering E. Competition

innovation

During the introduction stage of a product's life cycle, typical consumers are A. early adopters. B. innovators. C. pioneers. D. early majority. E. laggards.

innovators

Which of the following types of data would be the best choice for Wendy's fast food restaurants if the headquarters office wants to know how many hamburgers versus chicken sandwiches it has sold in past years? A. internal secondary data B. external secondary data C. survey responses D. focus group data E. primary data

internal secondary data

The manager of a company selling baby products asks you to conduct research into the question, "Is life expectancy getting longer in Kuwait?" The problem with this research objective is that A. it is irrelevant to the baby products company. B. it is already known and available from the U.S. Bureau of the Census. C. it will lead to a set of unstructured questions. D. it is a research question that probably cannot be answered with any level of accuracy. E. it is a question related to another culture.

it is irrelevant to the baby products company.

The CEO of David's firm just came back from a business seminar, and he called David into his office. He stated, "I just found out about the product life cycle curve in a strategy seminar. This is a great tool. I want you to drop whatever you're doing and inventory all of our products to determine exactly where they are in the product life cycle." David needs to think fast for a good answer because he knows that A. the product life cycle is not a useful concept. B. it is often impossible to identify with precision where a product is in the product life cycle. C. the product life cycle is not helpful in companies like his that pay attention to diffusion of innovation. D. the idea has been discredited by recent research. E. his job may be threatened by the answer.

it is often impossible to identify with precision where a product is in the product life cycle.

48. At the BMW plant in Spartanburg, South Carolina, suppliers deliver parts every four hours when the plant is in operation and are responsible for removing any packaging or pallets used to deliver their products. BMW uses a ______________ inventory control system. A. cross-docking B. lead time C. JIT D. CPFR E. UPC

jit

When John began helping his favorite uncle Burton with his finances, he discovered his uncle was still renting a rotary-dial telephone from the phone company. Uncle Burton had paid thousands of dollars in rental fees over the previous forty years. Uncle Burton is a(n) __________ in the diffusion of innovation process for telephones. A. innovator B. laggard C. late majority D. early majority E. early adopter

laggard

When microwaves were new, they often cost over $300, were huge, and had numerous settings and options. Brenda and Bart waited, concerned about potential health hazards and wishing for more choices in the market. By the time they purchased a microwave, sales of microwaves had leveled off and prices had declined significantly. Brenda and Bart were part of the ___________ diffusion of innovation group. A. innovator B. laggard C. late majority D. early majority E. early adopter

late majority

Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see whether they are using his tools for other tasks or have modified the tools for some other purpose. These customers are __________, who can provide ideas for new and improved products. A. early adopters B. market testers C. lead users D. reverse engineers E. concept testers

lead users

__________ are customers who modify existing products according to their own ideas to suit their specific needs. A. Early adopters B. Market testers C. Lead users D. Reverse engineers E. Concept testers

lead users

A __________ brand is one where there is a contractual arrangement between firms allowing one to use its brand name for a fee. A. franchise B. joint venture C. shared D. common use E. licensed

licensed

Which of the following best describes when Johnson & Johnson introduces a travel-sized package for its existing baby oil product? A. line extension B. brand extension C. brand dilution D. rebranding E. co-branding

line extension

In the United States, most consumer packaged goods found in grocery and discount stores are in the __________ stage of the product life cycle. A. growth B. pioneer C. introduction D. decline E. maturity

maturity

The marketing research process follows five steps, and researchers A. may not always go through them in the exact sequence if the situation changes or new information is discovered. B. should maintain the integrity of the process by following each step sequentially and thoroughly. C. often collect data before defining the research objectives. D. should be prepared to present the results before completing the analysis if they are under a great deal of pressure to meet a deadline. E. may follow the process by completing all steps at once instead of planning the process first.

may not always go through them in the exact sequence if the situation changes or new information is discovered.

Bianca's discount home furnishings store is in a strip mall. She wants to know what other businesses in the strip mall her customers visit when they come to her store. To collect information for this objective, Bianca will most likely use A. door-to-door surveys. B. focus group interviews. C. observation. D. sales invoices. E. census data.

observation

Mattel wanted to determine whether a new toy would appeal to preschoolers, so it put six 4-year-olds in a room with several toys and waited to see which ones they played with. What form of research is this? A. experiment B. focus group C. observation D. neuromarketing E. panel

observation

Qualtrics, Surveymonkey, and Zoomerang are examples of A. online survey software. B. biometric data companies. C. data warehouses. D. syndicated data companies. E. focus group programs.

online survey software

26. Walmart is known for its efficient logistical systems. Every time consumers buy something, that purchase is recorded and sent to company headquarters, where it is used to generate reorders to vendors. In addition, customers' billions of purchases are analyzed using data mining techniques to uncover A. the impact of income tax laws. B. patterns of consumers' purchasing behavior. C. the relationship between primary and secondary data. D. new ideas for human resources management. E. competitors' pricing strategies.

patterns of consumers purchasing behavior

In one test before product launch, customers try a sample product and are then surveyed to understand whether they would buy/use the product again. This is known as A. premarket testing. B. market testing. C. alpha testing. D. concept testing. E. pre-launch testing.

pre marketing testing

Lorraine belongs to a national consumer panel created by a market research company. She regularly receives samples of new products from a variety of firms and fills out questionnaires about the products. The national consumer panel Lorraine is part of is engaged in A. premarket testing. B. product launch. C. test marketing. D. product development. E. concept testing.

premarket

A marketing professor in Ithaca, New York, maintains a museum of failed consumer products. Most new products in this museum failed during the __________ stage of new product development, when they are introduced to a limited geographical area. A. pretesting B. product launch C. test marketing D. product development E. concept testing

pretesting

When a research team has gathered data for specific research needs, this is known as A. primary data. B. data mining. C. secondary data. D. data recovery. E. data modeling.

primary data

A __________ package is the one a consumer uses. A __________ package is used by retailers to display and sell the product. A. secondary; primary B. generic; private label C. primary; secondary D. corporate; manufacturer's E. co-branded; licensed

primary; secondary

Between concept testing and market testing, a firm should engage in which stage of the product development process? A. securing financial backing B. marketing research C. brainstorming D. determining potential ROI E. product development

product development

If a new product concept gets positive evaluations from potential customers during concept testing, the next step for a firm is A. market testing. B. product development. C. brainstorming. D. reverse engineering. E. launching the product.

product development

Zappos is a successful online shoe company. One of the difficulties in running a shoe company is the need to have significant __________, a large number of items in each product line. A. brand equity B. product line breadth C. product line depth D. product mix depth E. product mix breadth

product line depth

__________ is the number of items within a product line. A. Brand equity B. Product line breadth C. Product line depth D. Product mix depth E. Product mix breadth

product line depth

For a major university, undergraduate studies, graduate studies, and professional programs would be __________ within the university's product mix. A. brand associations B. family brands C. co-brands D. product lines E. private label brands

product lines

Firms spend millions of dollars annually to build brand equity, that recognizing brand equity contributes to A. product mix breadth. B. corporate stakeholder relations. C. profitability. D. brand liability. E. perceived brand personality.

profitability

Before the development of computer-assisted design software, many firms handcrafted __________, wooden or clay models that served as rough physical representations of a new product. A. premarket tests B. blockbusters C. prototypes D. storyboards E. designer models

prototypes

__________ confirms insights and provides a basis for taking a course of action. A. Primary data collection B. Data mining C. Qualitative research D. Quantitative research E. Statistical sourcing

quantitative

Once a marketing researcher is ready to move beyond preliminary insights to specific, informed questions, the researcher is ready to conduct A. quantitative research. B. data warehousing. C. syndicated marketing surveys. D. qualitative research. E. research design.

quantitative research

Ella had been using an imported brand of shampoo for several years, but she could no longer find it anywhere. As she was considering what kind of shampoo to try, she was surprised to see ads for Procter & Gamble's Head & Shoulders being promoted as a glamorous health-oriented product. She had always thought of Head & Shoulders as an anti-dandruff shampoo. The new ads suggest that Head & Shoulders has been A. rebranded. B. reformulated. C. licensed to a premium shampoo manufacturer. D. extended as a brand. E. co-branded.

rebranded

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them. An example of such a mature product is A. e-books. B. refrigerators. C. the VCR. D. smartphones. E. None of these. No product can stay in the maturity phase and survive for very long.

refrigerators

Inkjet printers were a big improvement over the dot matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their A. relative advantage. B. compatibility. C. observability. D. complexity. E. trialability.

relative advantage

After defining objectives and research needs, the next step in the marketing research process involves A. research evaluation. B. data collection. C. data analysis. D. research design. E. report writing.

research design

Brands that are owned by ___________ are called private-label brands. A. manufacturers B. wholesalers C. supply chain specialists D. retailers E. manufacturer's reps

retailers

In vendor-managed inventory systems, A. corporations send information to retail customers, bypassing wholesalers and retailers. B. companies send information to cooperatives. C. customers send information to retailers. D. manufacturers send sales information to the retailer. E. retailers send sales information to the manufacturer.

retailers send sales information to the manufacturer.

One of the advantages of selling specialty goods and services is that when consumers want them, they will A. question the price. B. consider many alternatives. C. search for them. D. perceive greater performance risk. E. expect them to be offered conveniently.

search for them

A marketing research project often begins with a review of the relevant __________ data. A. primary B. secondary C. quantitative D. unfocused E. structured

secondary data

McDonald's recently introduced a Favorites Under 400 Calorie Menu as part of an attempt to reverse the perception that McDonald's sells only unhealthy food. Suppose that McDonald's, as a follow-up, collects and analyzes social media posts from Facebook, Twitter, and similar sites, hoping to understand whether consumer perceptions are improving. This would be an example of A. quantitative research. B. an online focus group. C. sentiment mining. D. neuromarketing. E. an experiment.

sentiment mining

In addition to using sentiment mining to determine customer attitudes about products, some companies also participate in ________ by joining in online conversations with customers. A. data mining B. in-depth interviews C. experiments D. social engagement E. chat room dynamics

social engagements

_______ is another term for private-label brands. A. Store brands B. Off brands C. Manufacturer brands D. National brands E. Experiential brands

store

If a marketing researcher has to collect data under severe time constraints, which of the following types of data sources would probably be available soonest? A. syndicated data B. focus group data C. experimental data D. panel data E. survey data

syndicated data

Benefit-cost analysis in market research weighs A. the benefits of answering questions against the cost of the research. B. the benefit of qualitative research against the cost of quantitative research. C. the benefit of primary data research against the cost of secondary data research. D. the benefit of a data warehouse against the cost of syndicated data. E. the benefit of internal secondary data against the cost of external secondary data.

the benefits of answering questions against the cost of the research.

During the research design step of the marketing research process, researchers identify the type of data needed and A. the statistical software to be used. B. the dates when data will be collected. C. the forum in which the data will be presented. D. the identities of research participants in the project. E. the type of research necessary to collect the data.

the type of research necessary to collect the data

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