Marketing Final

A manager who helps direct the activities of a whole channel and tries to avoid or solve channel conflicts is a channel a. director. b. coordinator. c. captain. d. ombudsman. e. troubleshooter.

captain.

In the United States, warehouse clubs such as Sam's and Costco serve business customers as a. rack jobbers. b. cash-and-carry wholesalers. c. truck wholesalers. d. specialty wholesalers. e. manufacturers' agents.

cash-and-carry wholesalers.

Which of the following would be the most difficult task facing a marketing manager? a. discovering the attitudes of the firm's target market b. changing existing negative attitudes c. creating new attitudes toward his or her brand d. promoting existing attitudes e. strengthening existing positive attitudes

changing existing negative attitudes

Firms that specialize in providing marketing functions other than buying or selling are known as a. intermediaries. b. suppliers. c. collaborators. d. agents. e. consultants.

collaborators.

An economic buyer is a person who a. compares choices to get the best deal. b. makes buying decisions based only on price. c. will not pay extra for convenience. d. always buys products at the lowest price possible. e. is averse to spending time and money.

compares choices to get the best deal.

The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the ________ environment. a. political b. competitive c. social d. cultural e. economic

competitive

Joy Rinaldo has agreed to participate in marketing research in which she will provide information about her purchases on an ongoing basis. She is probably part of a a. confidence interval. b. statistical package. c. contributor group. d. consumer panel. e. focus group.

confidence interval.

A first step in evaluating marketing opportunities is to a. hire a "futurist" as a marketing consultant. b. estimate market and sales potentials. c. decide which markets the firm wishes to enter. d. find out if potential competitors are larger. e. consider the objectives and resources of the firm.

consider the objectives and resources of the firm.

The whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people is a(n) a. tradition. b. class. c. society. d. culture. e. ethnicity.

culture.

Alpine Auto Repair keeps a record of customer oil changes and sends a reminder postcard to its customers when it's time for the next oil change. This is an example of a ________ system. a. customer relationship management b. qualifying dimensions c. positioning matrix d. geographic targeting e. clustering

customer relationship management

The first step in market segmentation should be a. deciding what new product you could develop. b. evaluating what segment(s) you currently serve. c. finding a demographic group likely to use your products. d. listing features of your current products. e. defining some broad product-markets where you may be able to operate profitably.

defining some broad product-markets where you may be able to operate profitably.

The fact that producers usually prefer to produce products in large quantities while most consumers prefer to buy in small quantities results in a. discrepancies of quantity. b. separations of ownership. c. temporal separations. d. spatial separations. e. discrepancies of assortment.

discrepancies of quantity.

The company iRobot got its start by developing high-tech robots for military uses, but it later started making very different, futuristic robots that clean and wax floors in homes everywhere. Which of the four types of opportunity does this illustrate? a. diversification b. market development c. opportunity cost d. market penetration e. golden opportunity

diversification

General Electric's "strategic planning grid" is an approach for a. developing marketing mixes. b. selecting target markets. c. evaluating possible marketing objectives. d. developing new products. e. evaluating existing and possible plans.

evaluating existing and possible plans.

Quiet Drive Mufflers are sold only through Car Parts Now retailers. This retailer has only one store in any given geographic area to minimize competition between stores. Quiet Drive Mufflers is using ________ distribution. a. intensive b. ideal c. selective d. specialized e. exclusive

exclusive

Chelsea is buying her first flat panel television. She wants to make the right decision, so she consults several websites for product reviews, talks to friends and salespeople at electronics stores, determines several key criteria, and evaluates six different sets. For her flat panel purchase, Chelsea has used a. extensive problem solving. b. a focused information search. c. routinized response behavior. d. limited problem solving. e. low-involvement buying.

extensive problem solving.

"Marketing strategy planning" means a. finding attractive opportunities and developing profitable marketing strategies. b. selecting a target market and developing a marketing strategy. c. selecting an attractive target market. d. finding attractive opportunities and selecting a target market. e. selecting an attractive marketing mix.

finding attractive opportunities and developing profitable marketing strategies.

An information gathering process in which the responses of two or more groups that are similar except on the characteristic being tested are compared is called the ________ method. a. focus group b. random c. observing d. experimental e. qualitative questioning

focus group

Coorgs Coffee, Inc. has substantial market share in South America but seeks growth. Its managers want to expand into North America and target cities with populations of 50,000-99,999. Which segmenting dimension is most likely being used by Coorgs Coffee? a. geographic b. behavioral c. urgency to get need satisfied d. demographic e. attitudes of consumers

geographic

Societies need a macro-marketing system to a. help match supply and demand. b. identify collaborators. c. reduce the need for intermediaries. d. create a gap between producers and consumers. e. accomplish an organization's objectives only.

help match supply and demand.

A S.W.O.T. analysis a. identifies a firm's "strengths, weaknesses, opportunities, and threats." b. focuses on what a firm plans to do to "Satisfy Wishes of a Target" customer. c. summarizes a firm's "strategy, wishes (of its customers), outlook, and tactics." d. seeks to reduce the risk of competitive surprises by scanning the market for "signals, warnings, omens, and tips." e. helps defend against potential competitors by developing a set of competitive "safeguards, weapons, offensives, and tactics."

identifies a firm's "strengths, weaknesses, opportunities, and threats."

The process of market segmentation involves a. identifying small target markets and expanding them into broad product markets. b. identifying broad product markets and segmenting then into narrower target markets. c. identifying target groups with the fewest potential customers. d. selecting a marketing mix to reach everyone. e. identifying target markets based on consumers' gender alone.

identifying broad product markets and segmenting then into narrower target markets.

Coca-Cola's carbonated soft drinks are available in millions of locations worldwide. This is an example of ________ distribution. a. administered b. intensive c. horizontal d. selective e. exclusive

intensive

Since marketers can't collect information from everyone, they collect information from a small number of people taken from the larger group they are analyzing—a sample. This technique is effective when the sample group a. is representative of the larger population. b. is different from the larger population. c. provides identical responses. d. is questioned using online surveys. e. is questioned using personal interviews.

is different from the larger population

The ________ environment sets the basic rules for how a business can operate in society. a. technical b. social c. economic d. cultural e. legal

legal

Most conventional retailers in the U.S. are a. supermarkets b. mass-merchandisers. c. limited-line stores. d. specialty stores. e. department stores.

limited-line stores.

Isaac, a marketing manager, performs Internet searches and customer surveys to develop and analyze new information about a market his company is planning to enter. What procedure is Isaac following in order to get the desired information? a. marketing research b. marketing information system c. frequency monitoring program d. marketing plan e. management information system

marketing information system

An organized way of continually gathering, accessing, and analyzing data to get information to help marketing managers make ongoing decisions is called a a. marketing information system. b. marketing model. c. marketing research project. d. marketing research department. e. marketing logistics system.

marketing model.

If many individuals are involved in a buying decision, it is a case of a a. multiple input situation. b. selective rebuy. c. modified rebuy. d. multiple buying influence situation. e. straight rebuy.

multiple buying influence situation.

Jazzy Tile Co. segmented its broad product-market and decided to aim at two different segments, offering each segment a different marketing mix. Jazzy Tile Co. is following the ________ approach. a. mass marketing b. multiple target market c. combined target market d. single target market e. None of these answers is correct.

multiple target market

The consumer decision process begins with a. a routinized response. b. need awareness. c. information search. d. problem solving. e. alternative evaluation.

need awareness.

Sweets Galore, the manufacturer of Rainbow brand lollipops, decided to expand into manufacturing liqueur-filled chocolate truffles. Its buying process for the chocolates, liqueurs, and molds was extensive, and included setting product specifications and evaluating sources of supply. This is an example of a a. straight buy. b. modified rebuy. c. straight rebuy. d. new-task buy. e. simplified rebuy.

new-task buy.

When Macy's department store makes sure that customers can go to Macys.com to find out if a sweater they want to purchase is in stock at a local store, it appears that Macy's is practicing a. target channeling. b. gateway management. c. platform selling. d. webrooming. e. omnichannel.

omnichannel.

Marketers increasingly hire celebrities and even full-time bloggers to engage consumers in social media discussions about new products. A person who is able to influence followers to try products is a(n) a. channel captain. b. consumer advocate. c. marketer. d. figurehead. e. opinion leader.

opinion leader.

The triple bottom line is a measure of a firm's success based on multiple criteria, commonly referred to as a. product, price, and promotion. b. partnership, planning, and positioning. c. segmentation, targeting, and positioning. d. brands, buyers, and bucks. e. people, planet, and profit

people, planet, and profit

The four-level PSSP hierarchy of needs includes a. psychological needs, safety needs, social needs, and personal needs. b. physiological needs, safety needs, personal needs, and social needs. c. psychological needs, financial needs, social needs, and personal needs. d. physiological needs, psychological needs, social needs, and financial needs. e. physiological needs, psychological needs, safety needs, and personal needs.

physiological needs, safety needs, personal needs, and social needs.

The three basic tasks of all managers, according to the text, are a. hiring, training, and compensating. b. marketing, production, and finance. c. execution, feedback, and control. d. planning, staffing, and evaluating. e. planning, implementation, and control.

planning, implementation, and control.

Ford Motor Co. asks members of its target market to rate its cars and those of General Motors and Chrysler on a 7-point scale in terms of two dimensions (comfortable seats and engine power) so that it can establish a quadrant-grid map of these ratings. What type of analysis is Ford conducting? a. positioning b. combining c. qualifying d. dimensional e. insight management

positioning

Unlike a generic market description, a product-market definition includes a. customer needs. b. customer types. c. geographic area. d. product type e. an organization chart

product type

If a Universal computer monitor breaks while it is still under warranty, someone needs to get it to the repair center. In this case, Universal will need a. reverse channels. b. multichannels. c. intensive distribution. d. exclusive distribution. e. selective distribution.

reverse channels.

The owner of the new Sharp Scissors hair salon gave coupons to potential customers walking by her store to stimulate interest and offer a trial of her new hair salon. The coupons are an example of a. publicity. b. sales promotion. c. a channel of distribution. d. advertising. e. media.

sales promotion.

A new grocery store features a bank, a pharmacy, a flower shop, a full-service bakery, a café, photo processing, and equipment rentals, in addition to its normal grocery product lines. The store is engaging in a. the wheel of retailing. b. showrooming. c. scrambled merchandising. d. the retail life cycle. e. the omnichannel approach.

scrambled merchandising.

What selective processes are used in gathering and interpreting marketing stimuli around us? a. selective exposure, selective perception, and selective attention b. selective attention, selective perception, and selective retention c. selective exposure, selective attention, and selective reception d. selective exposure, selective perception, and selective retention

selective exposure, selective perception, and selective retention

The text considers five "eras" of marketing evolution. These five eras in their logical order are a. simple trade, production, sales, marketing company, and marketing department. b. simple trade, production, sales, entrepreneurial, and marketing company. c. simple trade, production, sales, marketing department, and marketing company. d. subsistence, production, sales, entrepreneurial, and marketing company. e. simple trade, production, sales, marketing department, and international trading.

simple trade, production, sales, marketing department, and marketing company.

The "Fashion Place" carries a carefully selected and distinctive assortment of traditional women's business clothing and accessories for upper-class executives in Boston. It emphasizes customer service with its well-trained salesclerks. The store is probably a a. small department store. b. specialty shop. c. onvenience store. d. single-line store. e. limited-line store.

specialty shop.

Which of the following impersonal sources enable purchasing managers to easily search for potential new suppliers? a. trade shows b. supplier websites c. consultants and outside experts d. salespeople e. special publicity features written by local news reporters

supplier websites

In contrast to mass marketing, target marketing a. tailors a marketing mix to fit some specific group of customers. b. focuses only on small market segments. c. makes it more likely that a firm will face direct competition. d. assumes everyone is a potential customer. e. assumes all customers have the same needs.

tailors a marketing mix to fit some specific group of customers.

Herbal Essences tries to sell its hair shampoos and conditioners to young women in their late teens and early 20s. These women represent Herbal Essences' primary a. target market. b. marketing strategy. c. channel of distribution. d. "Four Ps." e. marketing mix.

target market.

Which of the following is the best example of a generic market? a. the adult "personal expression" market b. the roller blade market c. the female exercise shoes market d. the sports drink market e. the sporting goods market

the adult "personal expression" market

A salesperson driving to visit a client located two hours away has a tire blow out on the highway. He walks about a mile to the next exit, where he finds a service station. The owner of the station says he can replace the blown tire, but it will cost twice as much as it would to purchase a tire in the salesperson's home city. The salesperson, not wanting to be late for his appointment, agrees to pay the higher price in order to get back on the road. This case illustrates the effect of ________ on buying behavior. a. cultural background b. social groups c. the purchase situation d. the learning situation e. reference groups

the purchase situation

The main difference between a "marketing strategy" and a "marketing plan" is that a. a marketing strategy provides more detail. b. time-related details are included in a marketing plan. c. a marketing plan includes several marketing strategies. d. a marketing plan does not include a target market. e. a marketing strategy omits pricing plans.

time-related details are included in a marketing plan.

Organizational buyers purchase the same product from more than one source a. if no supplier has a superior marketing mix. b. to help ensure continuing supplies. c. because a single vendor usually doesn't want all of the business. d. if vendor analysis results in a "tie score" for the different suppliers. e. None of these answers is correct.

to help ensure continuing supplies.

Marketing strategy decisions concerning Promotion include decisions about a. transporting and storing. b. discounts and allowances. c. training for salespeople. d. the kinds of intermediaries to use. e. packaging and branding.

training for salespeople.

Marketing a. involves persuading customers to buy your product. b. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them. c. is a social process involving all producers, intermediaries, and consumers. d. tries to make the whole economic system fair and effective. e. begins with the production process.

tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them.

If Walmart purchases a manufacturing plant to produce nothing but Walmart's dealer brand of laundry detergent, Walmart is engaging in a. monopoly. b. vertical integration. c. intertype competition. d. a contractual channel system. e. an administered channel system.

vertical integration.

A publisher of photography books finds that it is cost-effective to print 10,000 or more at a time. But a bookstore orders only a few copies of each book, since its customers want to select from a wide variety. This example shows a. why discrepancies of quantity occur. b. why both discrepancies of quantity and discrepancies of assortment occur. c. neither discrepancy of assortment nor discrepancy of quantity. d. why discrepancies of assortment occur. e. multichannel distribution.

why both discrepancies of quantity and discrepancies of assortment occur.

Which of the following is most consistent with the scientific method approach to marketing research as described in the text? a. "We continually survey our customers because the results give us good ideas for hypotheses." b. "Once we interpret the data, we can define our problem." c. "Our research is as precise as possible, because we want to be 100 percent accurate." d. "Sometimes the answers from the early stages of the research process are good enough, so we stop the research and make our decisions." e. None of these answers is correct.

"We continually survey our customers because the results give us good ideas for hypotheses."

If a firm spends $5,000 per year on advertising and attracts 50 new customers, what is the acquisition cost for each customer? a. $100 per customer b. $20 per customer c. $500 per customer d. $10 per customer e. $50 per customer

$100 per customer

As the owner of a women's clothing store, Caroline Lipscomb has an income of $75,000. She pays $30,000 per year in taxes and another $17,000 per year for grocery bills, home mortgage payments, and car payments. Last year she went on a holiday to Italy and spent an additional $4,000. What was Caroline's discretionary income last year? a. $45,000 b. $75,000 c. $26,000 d. $28,000 e. The information given is insufficient.

$28,000

Consider the comments from employees at Acme Industries and Intech Products. Do either (or both) reflect a marketing-oriented or production-oriented company?Acme Industries: "Our sales have nearly doubled since the sales manager was promoted to president. He's tripled the amount we spend on personal selling and advertising, and he's told the accountants to focus on balancing the books and leave the marketing budget to him."Intech Products: "It helps to have an accountant as president. When she took over the company, she founund that it was too expensive for a salesperson to visit many of our smaller customers, and now our sales force concentrates its efforts on satisfying those larger accounts that contribute the most to our profits." a. Acme Industries is production-oriented and Intech Products is production-oriented. b. Acme Industries is marketing-oriented and Intech Products is production-oriented. c. Acme Industries is production-oriented and Intech Products is marketing-oriented. d. Acme Industries is marketing-oriented and Intech Products is marketing-oriented.

Acme Industries is production-oriented and Intech Products is marketing-oriented.

Close buyer-seller relationships may not make sense because a. flexibility may be reduced for the firms involved. b. not all purchases are important enough to the buyer to justify a close relationship with a supplier. c. some suppliers do not want to deal with buyers who place small orders. d. there are situations in which the buyer could get reduced prices by letting suppliers compete for the buyer's business. e. All these answers are correct.

All these answers are correct.

For new-task buying, a good salesperson will try to contact the potential customer's a. deciders. b. gatekeepers. c. influencers. d. buyers (purchasing managers). e. All these answers are correct.

All these answers are correct.

Regarding retail sales in the U.S., it is true that a. consumers spend $5.5 trillion buying goods and services from U.S. retailers. b. almost 75 percent of all retail sales are made by the largest stores—those with sales over $5 million a year. c. corporate chains account for about 50 percent of retail sales. d. franchising accounts for one-third of retail sales. e. All these answers are correct.

All these answers are correct.

Retailing on the Internet a. can provide consumers with a broad array of product information. b. still accounts for less than ten percent of total retail sales. c. is growing rapidly. d. equates to lower operating costs and sometimes to lower prices. e. All these answers are correct.

All these answers are correct.

Which of the following are "business and organizational customers"? a. wholesalers b. manufacturers c. financial institutions d. government units e. All these answers are correct.

All these answers are correct.

Marketing managers should remember that there are many variables in the ________ that affect strategy planning. a. cultural and social environment b. economic and technological environments c. competitive environment d. political and legal environments e. All these environments have variables that affect strategy planning.

All these environments have variables that affect strategy planning.

Which of the following would be LEAST likely to need marketing skills? a. an electronics retailer b. a toy manufacturer c. a financial advisor d. an accountant e. All these organizations would be likely to need marketing skills.

All these organizations would be likely to need marketing skills.

Which of the following is true of the buying behavior of organizational customers? a. Organizational buyers are solely influenced by economic factors. b. Purchasing managers and others involved in organizational buying decisions do not expect friendly relationships with suppliers. c. In organizational buying, the needs of individuals who influence the purchase are not important. d. Product reliability is a more important concern for final consumers than for organizational customers. e. Behavioral dimensions like security, status, and a sense of accomplishment affect organizational buying.

Behavioral dimensions like security, status, and a sense of accomplishment affect organizational buying.

Which of the following statements is true regarding social responsibility in marketing? a. Companies tend to avoid developing written codes of ethics because standards for professional behavior are ambiguous by nature. b. Firms tend to advance their own short-term interests at the expense of customers. c. Being socially responsible usually leads to a negative response from customers. d. Being socially responsible can conflict with a firm's profit objective. e. None of these statements regarding social responsibility is true.

Being socially responsible can conflict with a firm's profit objective.

________ means that a firm has a marketing mix that the target market sees as better than a competitor's mix. a. Market development b. Customer equity c. Strategic policy d. Comparative opportunity e. Competitive advantage

Competitive advantage

________ is the total stream of purchases that a customer could contribute to the company over the life of the relationship. a. A premium price b. Net worth c. Customer lifetime value d. Customer equity e. Profit

Customer lifetime value

________ refers to the difference between the benefits a customer sees from a market offering and the costs of obtaining those benefits. a. Customer value b. Satisfaction c. Profit margin d. Operating cost e. Net value

Customer value

Which of the following statements is true regarding the last step—solving the problem—in the marketing research process? a. In this step, managers use the research results to make decisions. b. Research needs to have action implications to have value. c. Managers should be able to apply the research findings to marketing strategy planning. d. Research that does not provide information that is useful for decision-making is a waste of time and money. e. All these answers are correct.

In this step, managers use the research results to make decisions.

Which of the following is true of the economic environment? a. It can change very rapidly. b. It has no relationship to the technological environment. c. It is not affected by the way the parts of the macro-marketing system interact. d. It never requires marketing managers to make immediate changes in strategy. e. It refers to micro-economic factors that do not affect business spending.

It can change very rapidly.

Which of the following is the most accurate definition of the term segmenting? a. It is a disaggregating or "breaking down" process. b. It assumes that each person should be treated as a separate target market. c. It assumes that all customers can be clustered into profitable market segments. d. It is an aggregating process. e. It uses scientific rules to decide how many submarkets exist.

It is an aggregating process.

Which of the following is true of international marketing research? a. If a firm is well-established internationally, working with local market research firms in the countries of interest is less useful. b. It is impossible to coordinate similar marketing research efforts under way in several countries due to language and cultural differences. c. Accurate data (both primary and secondary data) may be hard to find in international markets. d. It is impossible to standardize the elements of an international marketing information system. e. Comparing the results of one market area to another complicates a home office manager's understanding of markets.

It is impossible to standardize the elements of an international marketing information system.

A decision-making approach that focuses on being objective and orderly in testing ideas before accepting them is called the ________ method. a. MIS b. scientific c. statistical d. DSS e. marketing model

MIS

________ means trying to increase sales by selling present products in new markets. a. Product development b. Diversification c. Market penetration d. Market development e. Differentiation

Market development

Which of the following in NOT a reason for you to studying marketing? a. Marketing affects almost every aspect of daily life b. Marketing plays a big part in economic growth and development c. Marketing involves actually making the goods that people need. d. Marketing will be important to your job. e. Marketing affects innovation and consumers' standard of living.

Marketing involves actually making the goods that people need.

A firm's "marketing mix" decision areas do NOT include a. Price. b. Promotion. c. Place. d. Product. e. People

People

A firm's decisions regarding channel type, market exposure, and kinds of intermediaries would fall under the marketing mix variable of a. Place b. Price. c. Product. d. Promotion. e. People.

Place

Because of long-run effects, decisions about which of the Four Ps are often harder to change than decisions about the others? a. Product b. Place c. Promotion d. Price e. Production

Place

When a supermarket manager decides the amount to charge customers for home delivery of grocery items, which of the Four Ps is that decision about? a. Product b. Place c. Promotion d. Price e. Parity

Price

The manager of a local electronics store decides to offer its customers a gift-wrapping service for the holidays. This is a decision about a. Product. b. Place. c. Promotion. d. Price. e. Production

Product.

Throughout the world, Sony sells its televisions through retailers. Which of the following is probably a reason for using this indirect distribution strategy? a. Sony's customers prefer to buy direct from Sony. b. Sony's customers do not know which intermediaries sell its televisions. c. Sony has limited financial resources. d. Sony could more effectively serve customers by selling to them through its website. e. Sony believes that some intermediaries can serve customer needs better than Sony and at lower cost.

Sony believes that some intermediaries can serve customer needs better than Sony and at lower cost.

Read the following scenario and select the answer the BEST describes the company's marketing approach. Technet Information Systems markets personal computers (PCs) in the U.S. and Canada. The company started out selling fast, sophisticated machines to scientists and enthusiasts. Machines were only assembled on order and were distributed through the company's regional branches. But, recently the company decided to take a different approach after two years of losses. The company's founder made the following announcement: "PCs are now a commodity. From now on, Phoenix will buy computers from whoever can make them cheapest-whether they're in Korea, Singapore, or wherever-and distribute them through any retail store that wants to sell them. We already have contracts with department stores like Sears, electronics stores like Best Buy, office supply stores like Staples, and even discount stores like Wal-Mart. We plan to become the country's leading volume supplier." a. Technet started out with a mass marketing approach and is continuing with a mass marketing approach. b. Technet started out with a target marketing approach and is continuing with a target marketing approach. c. Technet started out with a target marketing approach but has changed to a mass marketing approach. d. Technet started out with a mass marketing approach but has changed to a target marketing approach. e. None of these choices describes Technet's marketing approach.

Technet started out with a target marketing approach but has changed to a mass marketing approach.

Tango with Nature Inc., a company that manufactures and sells body oils, aroma oils, essential oils, and organic personal care products to spas around the globe, has decided to launch a website with an online store for its organizational customers. How will this decision most likely affect the company? a. The decision will not affect the company in any manner, as service customers avoid Internet buying. b. The company's customer service efforts will reduce. c. The company will lose its value in the market. d. The company will limit its interactions with its organizational customers. e. The purchases by small service customers can add up, creating a new market for Tango.

The purchases by small service customers can add up, creating a new market for Tango.

Which of the following is true of company objectives? a. They should always be overly ambitious. b. They should be set outside the resource limits for better goals. c. They should only be revised every five years. d. They should be set within the framework of marketing objectives. e. They should guide managers as they search for and evaluate opportunities.

They should guide managers as they search for and evaluate opportunities.

Which of the following describes the micro-macro dilemma? a. Intermediaries facilitate exchange, but they add to the cost of goods. b. What is good for some producers and consumers may not be good for society as a whole. c. Marketing people are unsure about individual activities versus social processes. d. In a multiproduct company, which product is to be emphasized over another is unclear. e. Most people don't want much freedom of choice in buying products.

What is good for some producers and consumers may not be good for society as a whole.

What is the main difference between retailing and wholesaling? a. Retailing involves selling to other merchants and wholesaling does not. b. Retailing involves selling to business customers and wholesaling does not. c. Technology is more important in wholesaling than in retailing. d. Wholesaling involves selling mainly to other merchants and business customers, but retailing involves selling mainly to final consumers. e. Wholesaling involves selling to final consumers and retailing does not.

Wholesaling involves selling mainly to other merchants and business customers, but retailing involves selling mainly to final consumers.

"For (our target market), (our brand) of all (product type) delivers (key benefit or point of differentiation) because (our brand) is (reasons to believe)." This is a. a positioning statement. b. a marketing plan. c. a competitor analysis. d. a mission statement. e. target marketing.

a positioning statement.

When a firm has multiple market opportunities from which to choose, marketers can use ________ to compare and identify the best ones. a. focus groups b. a competitor matrix c. a strategic planning grid d. S.W.O.T. analysis e. competitor analysis

a strategic planning grid

A marketing strategy specifies a. all the company's resources. b. a marketing mix. c. a target market and a related marketing mix. d. a target market. e. a target market and the company's objectives.

a target market and a related marketing mix.

The regrouping activity that involves collecting products from many small producers so that the products can be handled more economically further along in the channel is called a. sorting. b. wholesaling. c. accumulating. d. assorting. e. bulk-breaking.

accumulating.

The total system view of the marketing concept builds on the idea that a. a company should not have specialized departments. b. all departments—not just marketing—should be guided by customer needs. c. sales should be the firm's high-level objective. d. each department in an organization should do what it does best. e. None of these answers is correct.

all departments—not just marketing—should be guided by customer needs.

"Product" is concerned with a. packaging and warranty. b. branding. c. services. d. physical goods. e. all of these might be involved with Product.

all of these might be involved with Product.

The universal functions of marketing can be performed by a. collaborators. b. intermediaries. c. producers. d. consumers. e. all of these.

all of these.

Which of the following provides the correct sequence in the marketing research process? a. analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, solving the problem b. analyzing the situation, defining the problem, getting problem-specific data, interpreting the data, solving the problem c. defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem d. getting problem-specific data, interpreting the data, analyzing the situation, defining the problem, solving the problem e. getting problem-specific data, interpreting the data, defining the problem, solving the problem, analyzing the situation

analyzing the situation, getting problem-specific data, interpreting the data, defining the problem, solving the problem

Why would a producer prefer direct distribution? a. because it has more business transactions b.because they can handle orders that are smaller in size c. because they want to maintain control of the marketing mix d. because customers are usually widely dispersed across geographic areas e. because business products always use direct distribution

because they want to maintain control of the marketing mix

During the purchase of janitorial services for a new building, Teresa has responsibility for working with suppliers and arranging the terms of the sale. In this role, Teresa appears to be acting as a(n) a. gatekeeper. b. decider. c. buyer. d. user. e. influencer.

buyer.