Marketing

Which function of a marketing-information management system involves collecting facts and figures from internal and external sources on an ongoing basis?* Information reporting Data processing Marketing research Data gathering

Data gathering

When a retailer places a new product on the market, each element of the promotional mix should be designed to* 1.) remind customers about the benefits of the product. 2.) point out differences among competing products. 3.) inform consumers about the existence of the product. 4.) reinforce the retailer's image.

inform consumers about the existence of the product.

Information about marketing trends, competitors' activities, and new technology are examples of __________ marketing information.* internal secondary external primary

external

A downturn in the economy has forced a home builder to lower its prices. This company has __________ prices.* flexible realistic inflexible fixed

flexible

A business that positions its products as the ones offering the best quality and service for the price might gain a* promotional consideration. competitive advantage. product grade. marketing incentive.

competitive advantage.

The Raymoor Company moves, handles, and stores consumer goods that producers make and sell. Raymoor is a __________ business.* distribution production pricing packaging

distribution

A new salesperson can learn valuable information about how to demonstrate and promote company products from the company's* stockholders. prospective customers. carriers. experienced salespeople.

experienced salespeople.

Which of the following is essential to all marketing research:* Secondary data Mission statement Frequency Accuracy

Accuracy

What are regulatory factors that often affect businesses and their sales policies?* Credit guidelines Competitors' credit limit Antitrust laws Research requirements

Antitrust laws

What does a successful corporate brand communicate?* Benefits Motives Procedures Jargon

Benefits

How can marketing research help a business to evaluate its promotional efforts?* 1.) By comparing the business's promotional budget with the budgets of competitors 2.) By identifying the forms of promotion available to the business 3.) By identifying the forms of promotion used by competitors 4.) By comparing the results of different forms of promotion used by the business

By comparing the results of different forms of promotion used by the business

What is an effective follow-up activity that salespeople can use to provide good service and develop strong relationships with customers?* 1.) Explaining the company's business plan 2.) Asking for referrals 3.) Calling to make sure the products are satisfactory 4.) Sending articles about local competitors

Calling to make sure the products are satisfactory

In which stage of a product's life cycle would the least money be invested in product promotion?* Declining Introductory Maturity Growth

Declining

Determine whether the following statement is true or false: A product is considered new only if it is totally new to the market.* Option 1False, any product not recently available is new. True, only newly created products are considered new. True, any product developed by concept testing is new. False, a newly modified product can be considered new.

False, a newly modified product can be considered new.

Jim trains his salespeople to identify and fix sales-related problems quickly and efficiently. If Jim's training efforts improve customer service-levels, how is the business likely to benefit?* Better advertising Customer convenience Increased profits Service enthusiasm

Increased profits

Which of the following statements about exploratory research is true:* 1.) It involves making accurate predictions about certain situations. 2.) It helps marketers resolve well-defined problems swiftly. 3.)It serves as a starting point for more detailed research. 4.) It requires careful planning and control to carry out.

It serves as a starting point for more detailed research.

Joe is a salesperson who will sometimes forgo a sale in order to satisfy a customer's needs. Carol always attempts to close a sale at all costs. Who is likely to be the more successful salesperson?* 1.) Joe, because he is a nice person 2.) Carol, because Joe is too timid to close a sale 3.) Joe, because he will get more repeat business 4.) Carol, because she will make more sales

Joe, because he will get more repeat business

Evaluate the effectiveness of the following goal statement: The XYZ Department Store wants to reduce shoplifting this year.* 1.) Not effective, the goal is unrealistic. 2.) Effective, the goal is very specific. 3.) Effective, the strategies to be used are included. 4.) Not effective, the amount of reduction should be stated.

Not effective, the amount of reduction should be stated.

What is the most appropriate data-collection method to use when a business wants to determine how its employees interact with customers?* Telephone interview Experiment Employee survey Observation

Observation

The owner of a business in a small town is considering moving to a nearby larger city but is concerned that current customers will not travel the additional 50 miles. What marketing element is involved in this situation?* Price Place Product Promotion

Place

Jack has been the owner/operator of a suburban business for 20 years. Many of his customers have done business with Jack since the beginning. This fact indicates that Jack has been successful in* promoting his business. offering good service. building a clientele. selecting marketing strategies.

building a clientele

Which of the following is an example of a direct channel of distribution for consumer goods: Producer to wholesaler to retailer to consumer Producer to retailer to consumer Producer to agent to retailer to consumer Producer to consumer

Producer to consumer

Beth's Orchard sells fruit to Aaron's Fruit Warehouse, which then sells the fruit to a variety of local stores that sell to the final consumer. In this example, the fruit is following which channel of distribution?* Producer to retailer to consumer Producer to agent to consumer Producer to agent to wholesaler to consumer Producer to wholesaler to retailer to consumer

Producer to wholesaler to retailer to consumer

Identify the marketing function illustrated in the following situation: Martha wants a winter coat and sees a style she likes in a magazine advertisement.* Purchasing Selling Product/Service management Promotion

Promotion

Which of the following is an example of a limited warranty:* 1.) The manufacturer will replace defective parts for six months upon purchase of the product. 2.) The seller promises that each customer will be satisfied with the product it sells. 3.) If the seller experiences any problems with this product, it will be fixed or replaced. 4.) The business will refund the customer's money if s/he is not happy with product performance.

The manufacturer will replace defective parts for six months upon purchase of the product.

What is the central role of brand identity elements?* They work together to represent the brand. They are displayed on employees' clothing. They dictate business strategy. They mislead consumers.

They work together to represent the brand.

Which of the following is a way that grades and standards can be used:* To determine how products can be used To identify employee benefits To develop product brands To indicate which media will be used for promotion

To determine how products can be used

What is one way that businesses use marketing information?* To prepare sales invoices To determine credit scores To change economic trends To develop new products

To develop new products

Successful product/service management often helps a company to reduce its* operating capital. business risk. market share. research time.

business risk

Which of the following is an example of an internal source of secondary marketing data:* Consumer blogs Census reports Warranty agreements Business directories

Warranty agreements

Jason sees a gaming system advertised in a newspaper for an unbelievably inexpensive price. When he arrives at the store to buy the product, the salesperson tells Jason that the product is out of stock and pressures him to buy a much more expensive item. This illegal retail sales practice is known as* repositioning. full-line forcing. bait and switch. prestige pricing.

bait and switch.

A business is most likely to set sales-oriented pricing objectives when its focus is to* be more competitive in the marketplace. improve its cash flow. earn a return on investment. survive during short-term financial problems.

be more competitive in the marketplace.

A business might reduce a product's price during the growth phase of the product's life cycle because* 1.) the product tends to attract early adopters during this phase of the life cycle. 2.) the business wants to recover its research and development costs. 3.) it can lower advertising costs since the product has a loyal customer base. 4.) competitors have introduced similar products to the marketplace.

competitors have introduced similar products to the marketplace.

Applying the customer-orientation element of the marketing concept benefits a business by enabling it to* 1.) persuade customers to analyze its products. 2.) offer products that consumers want to buy. 3.) provide more products than consumers need. 4.) coordinate its marketing activities.

offer products that consumers want to buy.

Face-to-face contact with clients is a characteristic of __________ promotion.* nonpersonal formal all personal

personal

Arm & Hammer used to be known as plain baking soda. Now it has been introduced as an odor absorber for refrigerators. This is an example of* positioning. repositioning. corporate branding. segmenting.

repositioning.

Which of the following product mix strategies is a business using when it makes changes to aspects of its product items, such as packaging or pricing:* Expansion Contraction Alteration Collaboration

Alteration

What is one factor that a business considers when identifying promotional activities to include in its marketing plan?* Business cycle Safety issues The inventory system Costs involved

Costs involved

Should a business develop permanent marketing strategies?* 1.) No, businesses must be alert to changes in the marketplace. 2.) Yes, the competition will know what to expect from the business. 3.) No, marketing strategies change regardless of what the business wants. 4.) Yes, changing marketing strategies results in confusion for management.

No, businesses must be alert to changes in the marketplace.

Businesses conduct qualitative research when they want to obtain information about* percentage amounts. population statistics. consumers' opinions. inventory levels.

consumers' opinions

Businesses hope that innovators will buy new products when they are in the introductory stage because this helps to* 1.) get the products in the hands of older buyers. 2.) persuade competitors to enter the market. 3.) reduce the costs of product development. 4.) create demand for the products.

create demand for the products.

One of the main goals of promotion is to* create desire. develop a message. locate factors of production. monitor feedback.

create desire

Pricing is an important marketing function because the price of a good or service also affects its* trademark. utility. source. demand.

demand

When a business wants to notify preferred customers of a special offer, the most efficient promotional medium to use is* television. newspaper. transit. direct mail.

direct mail.

Marketing is many interrelated activities whose main purpose is to* 1.) direct the flow of goods and services. 2.) transform factors of production. 3.) meet consumers' noneconomic needs. 4.) follow the steps in the business concept.

direct the flow of goods and services.

Making both buyers and sellers feel they are getting good value is part of the __________ function of marketing.* promotion pricing financing purchasing

pricing

The PQR Company has experienced a drop in sales for three consecutive quarters. This is an example of defining the marketing-research* problem. risk. goal. Strategy.

problem

Obtaining business and personal information about potential clients is part of the __________ phase of the selling process.* prospecting follow-up approach closure

prospecting

Market researchers often place mystery shoppers in public places to observe and record consumer buying behavior. Some people find this practice unethical because* 1.) researchers are involving consumers without obtaining their consent. 2.) businesses do not pay consumers for their ideas and information. 3.) most data collected from these activities are usually unreliable. 4.) observers overlook other factors that are important to the overall research.

researchers are involving consumers without obtaining their consent.

Businesses often make decisions regarding changes in their product lines by analyzing data from their* accounting reports. sales invoices. freight bills. utilization summaries.

sales invoices