missed mar3023 questions

33) Which of the following statements regarding supply chain customer service is most accurate? A) Customer service must be balanced against total logistics cost factors. B) The output of a supply chain is measured in total units sold. C) Customer service is the responsibility of marketing channel members and not the supplier network. D) A firm's goal should be to provide superior customer service regardless of costs. E) The output of a supply chain is measured in total number of customers served.

A) Customer service must be balanced against total logistics cost factors.

local Target conducts an evaluation of their marketing plan and learns that Gator apparel yielded 40% more profit than Gator collectibles and 95% more profit than Seminole products. These finding are the result of which of the following? A) Profitability Analysis B) Sales Component Analysis C) Contingency Analysis D) Sales Analysis E) Marketing Audit

A) Profitability Analysis

30) A method of pricing where the price the seller quotes includes only the cost of loading the product onto the vehicle and specifies the location where the loading is to occur is referred to as A) free on board (FOB) origin pricing. B) free on board (FOB) destination pricing. C) paid on board (POB) geographical pricing. D) uniform delivered pricing. E) mode of transportation pricing.

A) free on board (FOB) origin pricing.

22) In terms of the online customer experience, customization refers to A) the ability of a website to modify itself to, or be modified by, each individual user. B) a website's aesthetic appeal and functional look and feel, reflected in site layout and visual design. C) the website's ability to conduct sales transactions for products and services. D) the consumer-initiated practice of generating content on a marketer's website that is custom-tailored to an individual's specific needs and preferences. E) an interactive, Internet-enabled system that allows individual customers to design their own products and services.

A) the ability of a website to modify itself to, or be modified by, each individual user.

5. The principal difference between the two major types of websites is that promotional websites are designed to __________ while transactional websites are designed to __________. A. promote a company's products and services; convert online browsers into online buyers B. move consumers closer to a purchase; provide information about a company C. convert online browsers into online buyers; promote a company's products and services D. provide information about a company; move consumers closer to a purchase E. create portals; act as bots

A. promote a company's products and services; convert online browsers into online buyers

An organization's special capabilities, including skills, technology, and resources that distinguish it from other organizations and provide customer value, are referred to as A) points of similarity. B) competencies. C) points of difference. D) core values. E) entry barriers.

B) competencies.

) Hard Candy is a cosmetics company that markets the Palm Palette—all the makeup a "girl-on-the-go" needs without a cumbersome makeup bag. It comes in three shades—glam, funky, and girlies. Hard Candy targets women who are 20-somethings. Which one of Porter's generic business strategies is Hard Candy most likely using? A) differentiation B) differentiation focus C) profit enhancement D) cost leadership E) cost focus

B) differentiation focus

Loving Care Pets manufactures food for dogs, cats, rabbits, and gerbils under three months of age. Assuming it is marketing to a single segment of "young-pet owners," in terms of the market-product grid framework, Loving Care Pets is using a ________ strategy. A) market-product concentration B) market specialization C) full coverage D) product specialization E) selective specialization

B) market specialization

Last month, the Samsung marketing team broke down the company's sales by product and region to diagnose any potential problems in their marketing. Samsung's marketing team used what process? A) Sales analysis B) sales component analysis C) Growth-Share analysis D) profitability analysis E) opportunity-cost analysis

B) sales component analysis

17) When using a price lining strategy, a marketer will A) set the price slightly higher than necessary to protect against losses resulting from adverse environmental forces. B) set the price of a line of products at a number of different specific pricing points. C) set a market price for a product or product class based on a subjective feel for the competitors' price or market price as the benchmark. D) set a low initial price on a new product to appeal immediately to the mass market. E) adjust the price of a product so it is "in line" with the price of its largest competitor.

B) set the price of a line of products at a number of different specific pricing points.

19. Max, a manufacturer of purebred pet rocks, is trying to determine how much to charge his distributor. Max knows his distributor has a markup of 10% and the retail stores that sell the pet rocks use a markup of 40%. The retail price for his purebred pet rocks is $1,000. What price should Max charge the distributor? A. $500 B. $540 C. $545 D. $650 E. $649

B. $540

20. Which of the following would NOT be an output metric, as defined in the textbook? A. A measure of revenue growth B. A measure of research and development spending C. A measure of return on investment D. A measure of customer satisfaction E. A measure of the number of products launched

B. A measure of research and development spending

49. Which of the following would be a source of vertical conflict? A. Ansible Technologies Ltd. sells its portable planetariums to both colleges and high schools. B. Best Buy puts HP laptops in more prominent display locations in its stores than it does comparable laptops from Dell. C. Foot Locker decides to open a retail outlet near a Nike store in a shopping mall. D. Long John Silver's decides to serve grilled burgers in addition to seafood. E. A restaurant serves both Coke and Pepsi to its patrons.

B. Best Buy puts HP laptops in more prominent display locations in its stores than it does

48. The retail positioning matrix classifies retailers according to which two dimensions? A. Management structure; Value added B. Breadth of product line; Value added C. Depth of product line; Ownership structure D. Store location; Store type E. Breadth of product line; Depth of product line

B. Breadth of product line; Value added

38. Yahoo! is an internet corporation headquartered in California. It is known for its search engine, web portal, and related services such as Yahoo Mail. Although its basic services and marketing strategy are identical worldwide, Yahoo has recently modified their website by providing language variations for 25 different countries, including China, Russia, and Japan. Yahoo is an example of a company that practices what approach? A. Direct Investment B. Glocalization C. Pure standardization D. International Marketing E. Pure non-standardization

B. Glocalization

39. A Gantt chart is generally used for: A. Making contingency plans B. Scheduling a project C. Evaluating a promotional campaign D. Showing how a business unit is organized E. Budgeting marketing activities

B. Scheduling a project

27. In June 2016 Stuart launched his new gardening service firm, which specializes in the maintenance of delicate flowers. Stuart's marketing plan projected sales of $40,000 by the end of August. Unfortunately, Stuart lives in Colorado where it quite unexpectedly snowed heavily in June and July. Flowers are not yet blooming. Stuart is losing a lot of money due to high fixed costs, but he is confused about what to do to address the situation. We can conclude from this sad scenario that Stuart's marketing plan did not include: A. a SWOT analysis B. a contingency plan C. measurable objectives D. specific tactics E. a budget

B. a contingency plan

39. Michael Porter has identified four key elements in a nation's competitive advantage: factor conditions; demand conditions; related and supporting industries; and __________. A. governmental regulation B. company strategy, structure and rivalry C. workforce education and skill levels D. consumer behavior E. suppliers

B. company strategy, structure and rivalry

4. The three major types of special adjustments to list or quoted price are A. one price, flexible price, and discounts. B. discounts, allowances, and geographical adjustments. C. discounts, allowances, and marginal adjustments. D. discounts, incremental costs and revenues, and geographical adjustments. E. demand-oriented, cost-oriented, and profit-oriented adjustments.

B. discounts, allowances, and geographical adjustments.

60. The retail price of a fax machine has decreased from more than $10,000 in the early 1970s to less than $100 today. This is due in large part to A. penetration pricing. B. experience curve pricing. C. customary pricing. D. odd-even pricing. E. prestige pricing.

B. experience curve pricing.

A cost leadership strategy refers to one of Porter's generic business strategies that A. requires products to have significant points of difference to charge a higher price while targeting a broad array of market segments. B. focuses on reducing expenses and, in turn, lowers product prices, while targeting a broad array of market segments. C. involves controlling expenses and, in turn, lowering product prices targeted at a narrow range of markets segments. D. seeks opportunities by finding the optimum balance between marketing efficiencies versus R&D- manufacturing efficiencies. E. requires products to have significant points of difference to target one or only a few market segments.

B. focuses on reducing expenses and, in turn, lowers product prices, while targeting a broad array of market

49. Which type of marketing channel arrangement is especially good for a firm to use in global marketing where the creation of marketing channel relationships is expensive and time consuming? A. dual distribution B. strategic channel alliance C. multichannel distribution D. cooperative distribution E. global distribution alliance

B. strategic channel alliance

Hefty currently holds 31% market share in the trash bag market and wants to expand to 45% market share. If its current share of voice is 31%, Hefty's share of voice should increase by ____ to achieve this growth. A) 46.5% B) 14% C) 21% D) 52% E) 45%

C) 21%

10) Which of the following is an important step in effectively implementing multichannel marketing? A) Minimize the number of channels to avoid cannibalizing sales from stores. B) Immediately appoint a channel captain to avoid channel conflict. C) Start by documenting cross-channel consumer behavior with a customer journey map. D) Establish subbrands for catalog retailers and direct selling channels. E) Create a website that will engage visitors with interactive experiences that involve games, contests, and quizzes.

C) Start by documenting cross-channel consumer behavior with a customer journey map.

Freightfinder.com is an Internet company that is called a "go-between." If a trucker needs to find a load for a particular trade lane, he or she can visit this site, list the price and available truck space, and find a company that needs a shipment moved. Since the purpose of this website is to put buyer and sellers together so that a single sale can be made, this website can be categorized as A) a manufacturer's agent. B) a selling agent. C) a broker. D) an administrator. E) a manufacturer's representative.

C) a broker.

Long-range marketing plans cover marketing activities A) 5 to 10 years into the future. B) from one quarter to the next. C) two to five years into the future. D) for a single year. E) from six months to one year.

C) two to five years into the future.

19. Talia works for a furniture manufacturer that sells its products to the retailer Anthropologie. She is trying to calculate how much she will charge Anthropologie for a new quilted couch. Talia knows that Anthropologie will use a 40% markup, and her consumer research estimated that consumers would be willing to pay $1,000 for the couch. How much should Talia's firm charge Anthropologie for the couch? A. $400.00 B. $500.00 C. $600.00 D. $714.29 E. $625.00

C. $600.00

46. Albert and Alberta Gator's restaurant -- the Chomp Chomp Cafe -- has been losing business recently. The Gators know that they need to expand their marketing efforts in the next fiscal year. So, they decide to undertake a few new initiatives -- create a Facebook page and a Twitter account, host special food festival events, and test 20 new menu items. They then estimate the cost of each of these initiatives to form their annual marketing budget. Albert and Alberta are using the _____ approach to budgeting. A. Competitive parity B. Optimization C. Objective and task D. Percentage of sales E. Affordable

C. Objective and task

13. What are the three steps involved in the planning phase of the strategic marketing process? A. Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it? B. Step 1: planning; Step 2: implementation; and Step 3: evaluation C. Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program D. Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product E. Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization

C. Step 1: situation (SWOT) analysis; Step 2: market-product focus and goal setting; and Step 3: the marketing program

37. The mathematical function that relates the expense of marketing effort to the results obtained is referred to as __________. A. share point analysis B. market share profitability C. a sales response function D. marketing dynamics E. synergy analysis

C. a sales response function

12. A gray market refers to A. a once active and powerful market that is rapidly becoming the bottom of the barrel. B. a pricing structure that is based upon "haggling" that is considered acceptable in some countries but not others. C. a situation where products are sold through unauthorized channels of distribution. D. the segment of products specifically designed for the need of older buyers. E. the willingness of one party to accept "gifts" in exchange for better prices or price allowances.

C. a situation where products are sold through unauthorized channels of distribution.

56. The Brazilian government wants to build a global positioning satellite (GPS) system. The satellite manufacturer will receive a mutually agreed upon pre-set dollar amount of profit over and above all costs associated with the project. The pricing approach the satellite manufacturer uses is called A. bundle pricing. B. standard markup pricing. C. cost-plus fixed-fee pricing. D. cost-plus percentage-of-cost pricing. E. experience curve pricing.

C. cost-plus fixed-fee pricing

45. A(n) __________ exists when producers and ultimate consumers deal one-on-one with each other. A. dual distribution channel B. marketing channel C. direct channel D. strategic channel alliance E. indirect channel

C. direct channel

21. The primary purpose of a marketing metric is to A. provide a numerically precise measurement of management judgment for an industry's growth. B. assign qualitative values to quantitative data. C. measure the quantitative value of a marketing activity. D. allow the sharing of information across product lines. E. forecast potential product/service opportunities over a period of five years.

C. measure the quantitative value of a marketing activity.

20. Retailers that consistently sell brand name merchandise at lower than regular prices are engaging in __________. A. loss-leader pricing B. discount pricing C. off-price retailing D. markdown pricing E. predatory pricing

C. off-price retailing

15. Marginal cost is the change in total cost that results from A. increasing the number of units produced by 1 percent. B. the percentage change that results from changing a product feature or service benefit to reduce costs. C. producing and marketing one additional unit of a product. D. increasing the number of products in a product line. E. subtracting cost of goods sold (COGS) from sales revenue.

C. producing and marketing one additional unit of a product.

7. Professionally managed and centrally coordinated marketing channels designed to achieve channel economies and maximum marketing impact are referred to as __________. A. functional marketing systems B. horizontal marketing systems C. vertical marketing systems D. cooperative marketing systems E. coordinated marketing systems

C. vertical marketing systems

41) Hydroflask sells water bottles in a variety of sizes and colors. The marketing team at Hydroflask is looking for new strategies that will allow the company to capture an even larger share of the water bottle market. In order to most effectively grow their market share, which strategy should they use, based on the research discussed in class? A) Hold a flash sale, reducing their prices for a day B) Increase the length of warranty on all of their products C) Increase their advertising budget D) Utilize campus brand ambassadors, in order to expand their sales force E) Develop a new line of products directed specifically towards hikers

D) Utilize campus brand ambassadors, in order to expand their sales force

Kraft Foods is the exclusive distributor of Starbucks coffee in U.S. supermarkets and internationally. Kraft and Starbucks are using: A) a direct marketing channel B) a cooperative distribution channel C) multichannel distribution D) a strategic channel alliance E) a dual distribution agreement

D) a strategic channel alliance

2) The primary purpose of a marketing metric is to A) allow the sharing of information across product lines. B) forecast potential product/service opportunities over a period of five years. C) provide a numerically precise measurement of management judgment for an industry's growth. D) measure the quantitative value of a marketing activity. E) assign qualitative values to quantitative data.

D) measure the quantitative value of a marketing activity.

28. Bath & Body Works is considering expanding their company by opening some stores in Europe. In order to expand into the international market, the marketing team is analyzing all the countries in Europe to see which ones offer the best fit for their stores. Which sector is typically the most challenging for marketers as they move into new foreign markets? A. Economic B. Factor conditions C. Technological D. Social/Cultural E. Natural

D. Social/Cultural

42. Tidy Clean makes washers and dryers. They manufacture them in Dayton, Ohio, and then ship them to retailers all across the country. The price that Tidy Clean quotes to the retailers includes all transportation costs, and Tidy Clean handles all of the shipping. All of the retailers pay the same price to Tidy Clean, regardless of whether the retailers are near (Toledo, Ohio) or far (San Jose, California). What is this type of pricing called? A. FOB Origin pricing B. Uniform delivered multiple-zone pricing C. Customary pricing D. Uniform delivered single-zone pricing E. Basing-point pricing

D. Uniform delivered single-zone pricing

One of Porter's generic business strategies that focuses on reducing expenses lowering product prices while targeting a broad array of market segment s, is referred to as a __________. A. cost focus strategy B. differentiation focus strategy C. supply focus strategy D. cost leadership strategy E. differentiation strategy

D. cost leadership strategy

41. A continuing, concise trade-off of incremental costs against incremental revenues is referred to as A. cost-benefit analysis. B. situation analysis. C. break-even analysis. D. marginal analysis. E. demand analysis.

D. marginal analysis.

18. Manufacturer's agents (also known as manufacturer's representatives) refer to agents who A. take title to merchandise but sell only to buyers who call on them, pay cash for merchandise, and furnish their own transportation for merchandise. B. furnish the racks or shelves that display merchandise in retail stores, perform all channel functions, and sell on consignment to retailers. C. represent a single producer and carry all products in the producer's lines. D. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory. E. own the merchandise they sell but do not physically handle, stock, or deliver it.

D. work for several producers and carry noncompetitive, complementary merchandise in an exclusive territory.

Leonardo's Pizza by the Slice has an annual fixed cost of $40,000. Each slice of pizza sold at Leonardo's has a variable cost of $0.40. During the 2017-2018 school year, 9,000 slices of pizza were sold. Leonardo's Pizza wanted to make a $10,000 profit. What should they have charged per slice of pizza? A) $4.84 B) $6.56 C) $6.75 D) $5.56 E) $5.96

E) $5.96

Supply chain managers balance total logistics cost factors against customer service factors. Which of the following is not a customer service factor? A) convenience. B) time. C) dependability. D) communication. E) assurance.

E) assurance.

41. Saltedspearguns.com is the number one source for all spearfishing enthusiast needs and wants. The site provides information about what guns and slings are the best as well as information about where to buy spear guns. This website is great for helping a novice pick the perfect first gun and even addresses the needs and questions an expert may have. Saltedspearguns.com is an example of what use of the internet? A. Selling Merchandise B. Sales Support C. Virtual Community D. Brand Building E. Facilitating Sales

E. Facilitating Sales

16. One of Allegiant Airlines' biggest competitors is Spirit. The two airlines are constantly in a price war. When one of them announces a low fare sale, the other counters with an even lower fare. What is necessary for Allegiant to be successful in price competition with Spirit? A. Increase the number of routes offered B. Offer more legroom and better snacks and drinks C. Heavily advertise their low fares on TV D. Target Spirit's customers efficiently E. Make sure they are the low cost provider

E. Make sure they are the low cost provider

47. Chobani, the popular Greek yogurt company, completed an evaluation of their marketing plan and learned that their Chobani "Simply 100" yogurt product yielded 35% more profit than the Chobani "Fruit on the Bottom" product and 25% more profit than the Chobani "Blended" product. These findings resulted from a: A. Sales Component Analysis B. Contingency analysis C. Marketing audit D. Sales analysis E. Profitability analysis

E. Profitability analysis

30. Whirlpool recently asked the United States to impose __________ on washing machine imports made by LG Electronics and Samsung Electronics, both South Korean companies, to raise the price of these products. Whirlpool accused these companies of selling below fair market value and receiving anticompetitive export subsidies from their governments, both of which jeopardize American jobs. A. quotas B. boycotts C. sanctions D. embargoes E. tariffs

E. tariffs

1. Many fast food retailers, including McDonald's and Burger King, have followed a predictable pattern of how new forms of retail outlets enter the marketplace. McDonald's has evolved from a relatively simple restaurant with low margins, low prices, limited product offerings, and low institutional status to a worldwide chain with higher margins, high status, and a diverse menu of products. This evolution of McDonald's restaurants is consistent with the A. slow to fast food restaurant evolutionary cycle. B. retail life cycle. C. fast food retail sequence. D. revolution of retailing. E. wheel of retailing.

E. wheel of retailing.

Pharming

Reroutes requests for legitimate websites to false websites

Which of the following statements regarding the seller's price is most accurate? A) Competitive environments affect a firm's pricing objectives, but not its actual product prices. B) Price changes cannot be regulated in a monopoly. C) The seller's price is constrained by the type of market within which it competes. D) Internet price changes are regulated by the Internet Fair Practices Act to protect consumers against price gouging. E) The type of market has little or no impact on a firm's prices.

The seller's price is constrained by the type of market within which it competes.

sales component analysis

a specific kind of sales analysis that traces sales revenues to their sources, such as specific products, sales territories, or customers

42. The fundamental, passionate, and enduring principles of an organization that guide its conduct over time are referred to as its __________. A. vision B. core values C. corporate mission D. corporate ethos E. strategic goals

core values

Loss-leader pricing refers to A) a method of pricing based on a product's tradition, standardized channel of distribution, or other competitive factors. B) pricing a product between 8 and 10 percent lower than nationally branded competitive products. C) setting a low initial price and gradually but consistently increasing that price so as not to antagonize the consumer. D) deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well. E) a pricing method where the price the seller charges is below the actual cost to make the product.

deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well.

A situation where products are bought in a lower-priced country from a manufacturer's authorized reseller, shipped to higher-priced countries, and then sold through unauthorized retailers below the manufacturer's suggested retail price is referred to as A) parallel exporting. B) the black market. C) dumping. D) a globalized market. E) a gray market.

gray market

The application of modern measurement technologies to understand, quantify, and optimize marketing spending is referred to as A) the marketing audit. B) marketing dashboards. C) marketing ROI (return on investment). D) situation analysis. E) strategic marketing analysis.

marketing ROI (return on investment).

differentiation focus

narrow target, differentiation

The retail positioning matrix is an analytical tool that A) identifies the best location for building or leasing a retail store. B) identifies the most likely target market for a retail outlet based upon its size. C) positions retail outlets in terms of the breadth of product line and value added. D) identifies the specific customer base served by all stores within a given radius. E) identifies the elements of the retailing mix.

positions retail outlets in terms of the breadth of product line and value added.

Four basic business and management practices are what matter—"what really works," to use the phrase of the researchers who studied more than 200 management tools and techniques. These are: (1) strategy, (2) execution, (3) culture, and (4) ________. A) ethics B) quality C) structure D) sustainability E) charismatic leadership

structure

7) Interactive marketing refers to A) the consumer-initiated practice of generating content on a marketer's website that is custom-tailored to an individual's specific needs and preferences. B) the two-way buyer-seller electronic communication in a computer-mediated environment in which the seller controls the kind and amount of information received from the buyer. C) the interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes, prices, and delivery options. D) the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller. E) an Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings.

the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.