Rushi - MKT 320f web Final

Which of the following statements is true of the pyramid of corporate social responsibility?

It has four components that are distinct but together constitute the whole.

Which of the following statements is true of globalization?

It increases the productivity and growth of businesses.

Which of the following statements is true of a multidomestic strategy?

It occurs when multinational firms enable individual subsidiaries to compete independently in local markets.

Which of the following statements is true of cost leadership in the context of cost competitive advantage?

It results from controlling overhead costs and avoiding marginal customers.

In the context of Ansoff's strategic opportunity matrix, which of the following statements is true of the market penetration alternative?

It tries increase market share among existing customers.

Which of the following statements is an argument against corporate social responsibility?

Some analysts believe that a business should focus on making a profit and not environmental issues.

Which of the following statements is true regarding companies engaged in relationship marketing?

They are focused on improving rapport with current customers.

In the context of relationship marketing, which of the following statements is true of employees who are empowered?

They develop ownership attitudes.

Which of the following statements is true of firms that succeed in competitive markets?

They first determine what customers want and then produce it.

Which term refers to a deduction from list price applied to a customer's total purchases made during a specific period? a. Cumulative quantity discount b. Noncumulative quantity discount c. Cash discount d. Quantity discount

a. Cumulative quantity discount

_____ is the interpretation of the language and symbols sent by a source through a channel. a. Decoding b. Encryption c. Encoding d. Transmission

a. Decoding

_____ refers to the elements of the composition and appearance of a product that make it desirable. a. Form utility b. Time utility c. Place utility d. Exchange utility

a. Form utility

In the context of marketing research, which of the following is a difference between primary data and secondary data? a. Unlike secondary data, primary data can address almost any marketing question. b. Unlike secondary data, primary data are inexpensive, and they save time and money. c. Unlike secondary data, primary data are available to all interested parties for free. d. Unlike secondary data, primary data are data that have been previously collected.

a. Unlike secondary data, primary data can address almost any marketing question.

A software program that searches the Web for the best price for a particular item that you wish to purchase is called ______________. a. a shopping bot b. the extranet c. a wireless setup d. an internet auction

a. a shopping bot

In 2014, fashion retailer, H&M, placed a full page advertisement in a newspaper in the Czech Republic detailing the withdrawl of a belt that had small pieces which could be a choking hazard. This is an example of: a. crisis management. b. product publicity. c. public affairs. d. employee relations.

a. crisis management.

Using consumers to develop and market products is known as _____. a. crowdsourcing b. personal selling c. text mining d. brandjacking

a. crowdsourcing

Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of frame, number of coils, and fabric characteristics. This form of labeling is an example of _____. a. informational labeling b. persuasive labeling c. grade labeling d. promotional labeling

a. informational labeling

In the context of psychographic segmentation, _____ segmentation divides people into groups according to the way they spend their time, the importance of the things around them, their beliefs, and socioeconomic characteristics such as income and education. a. lifestyle b. ethnic c. family life cycle d. gender

a. lifestyle

In many public assistance programs, about half the people who are eligible do not participate because they do not want to devote the required time or effort or are just plain embarrassed to seek help. Such people are not willing to ______. a. pay the nonfinancial price b. separate payers from users c. make an indirect payment d. acknowledge the value of free services

a. pay the nonfinancial price

Consumers determine value of the product on the basis of a. perceived satisfaction. b. the opportunity cost to buy the product. c. discounts availed. d. what other people buy.

a. perceived satisfaction.

When considering the new-product development process, which of the following statements is true of screening? a. It eliminates ideas that are inconsistent with an organization's new-product strategy. b. It calculates preliminary figures for demand, cost, sales, and profitability. c. It involves getting consumer reactions to visual representations of a proposed product. d. It involves making cosmetic or functional changes to existing products.

a. It eliminates ideas that are inconsistent with an organization's new-product strategy.

Which of the following is true of shopper marketing? a. It focuses on understanding how a brand's target consumers behave as shoppers in different channels and formats. b. It involves shoppers buying something online and then traveling to a physical store location to take delivery of the merchandise. c. It reduces the need for sophisticated analytics and metrics. d. It focuses on delivering the maximum benefit to brands

a. It focuses on understanding how a brand's target consumers behave as shoppers in different channels and formats.

Which of the following is an advantage of advertising? a. It has the ability to communicate to a large number of people at one time. b. It allows direct two-way communication between the marketer and the consumer. c. It creates a long-term, committed relationship between the salesperson and the customer. d. It reduces the total cost incurred by a company if done on a national basis.

a. It has the ability to communicate to a large number of people at one time.

Which of the following describes product line depth? a. It is the number of product items in a product line. b. It is the number of product lines an organization offers. c. It refers to all products that an organization sells. d. It is a group of closely related product items

a. It is the number of product items in a product line.

Which of the following statements is true of reminder promotion? a. It prevails during the maturity stage of the product life cycle. b. It forms relationships with customers through technological ties. c. It is designed to stimulate a purchase or an action. d. It prevails during the growth stage of the product life cycle.

a. It prevails during the maturity stage of the product life cycle.

Which of the following is true of measurement integration? a. It reflects the idea that performance assessments should be transparent across the borders of different firms. b. It enables firms to offer long-lasting, distinctive, value-added offerings to valuable customers. c. It leads to the development of a shared mental framework across companies. d. It requires a firm and its suppliers to have a common vision of the total value creation process.

a. It reflects the idea that performance assessments should be transparent across the borders of different firms.

Which of the following is an advantage of simultaneous product development? a. It shortens the development process and reduces costs. b. It eliminates the need for conducting laboratory tests on product prototypes. c. It ensures that product development occurs in highly structured stages. d. It eliminates the need for test marketing a new product.

a. It shortens the development process and reduces costs.

_____ is a direct marketing technique that is based on data analytics of census data, lifestyle patterns, financial information, and past purchase and credit history that allows direct mailers to pick out those most likely to buy their products. a. Microtargeting b. M-commerce c. E-tailing d. Telemarketing

a. Microtargeting

Which of the following refers to a type of package labeling that focuses primarily on a promotional theme or logo and consumer information is secondary? a. Persuasive labeling b. Informational labeling c. Packaged labeling d. Greenwashing

a. Persuasive labeling

Which of the following is a difference between profit organizations and nonprofit organizations? a. Profit organizations focus on profit and sales maximization, whereas nonprofit organizations seek to redistribute income. b. Profit organizations use public service advertisements for promotion, whereas nonprofit organizations use commercial advertisements for promotion. c. Profit organizations market complex behaviors or ideas, whereas nonprofit organizations market tangible goods. d. Profit organizations adopt undifferentiated segmentation strategies, whereas nonprofit organizations adopt differentiated segmentation strategies

a. Profit organizations focus on profit and sales maximization, whereas nonprofit organizations seek to redistribute income.

Which of the following refers to a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships? a. Relationship selling b. Price-based selling c. Stimulus-response selling d. Adaptive selling

a. Relationship selling

_____ allow the movement of products upstream, in the direction of the producer. a. Reverse channels b. Agent or broker channels c. Direct channels d. Dual distribution channels

a. Reverse channels

Which of the following statements is true of a business-to-business sales environment? a. Salespeople in a business-focused environment are required to travel more extensively than in a consumer-focused environment. b. The sales process is less time-consuming in a business-focused environment than in a consumer-focused environment. c. It requires consumers to come directly to a retail store. d. It is an environment meant for the sale of services and not products.

a. Salespeople in a business-focused environment are required to travel more extensively than in a consumer-focused environment.

Which of the following is the most important factor in influencing the distribution strategy of a time-dependent service provider? a. Scheduling b. Tangible cues c. Price bundling d. Customization

a. Scheduling

Which of the following refers to an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand? a. Competitive advertising b. Cooperative advertising c. Institutional advertising d. Pioneer advertising

b. Cooperative advertising

Which of the following is true of the factors that affect consumer decision making? a. Social, individual, and psychological factors do not affect a decision-making process. b. Cultural factors exert the broadest and the deepest impact on consumer behavior. c. Cultural values are static and do not affect the purchase behavior of consumers. d. Psychological factors include gender, age, family life cycle stage, personality, self-concept, and lifestyle.

b. Cultural factors exert the broadest and the deepest impact on consumer behavior.

Which of the following statements is true of a specialty product? a. It is widely distributed in a geographic area so that sufficient quantities can be sold. b. It is marketed using selective, status-conscious advertising to maintain its exclusive image. c. It is easily substituted with products that have the same features. d. It is unknown to a potential buyer or a known product that the buyer does not actively seek. ANSWER: b

b. It is marketed using selective, status-conscious advertising to maintain its exclusive image.

Which of the following statements best defines mass communication? a. It is the communication that takes place between two end consumers. b. It is the communication of a concept or message to large audiences. c. It is the paid-for communication between two people in an attempt to influence each other. d. It is the direct, face-to-face communication between two or more people.

b. It is the communication of a concept or message to large audiences.

In the context of the strategies for selecting target markets, which of the following is an advantage of undifferentiated marketing? a. It results in highly imaginative and attractive product offerings. b. It offers potential savings on production and marketing costs. c. It makes a company immune to competition. d. It caters to the specific needs of individual customers.

b. It offers potential savings on production and marketing costs.

In the context of marketing research, which of the following statements is true of a field service firm? a. It collects data from periodicals and manuals. b. It provides focus group facilities to collect data. c. It interviews random groups of people at a time. d. It gathers research data through mail surveys.

b. It provides focus group facilities to collect data.

In which stage of the product life cycle does price decrease as competition increases and inefficient, high-cost firms are eliminated? a. Growth stage b. Maturity stage c. Introductory stage d. Decline stage

b. Maturity stage

In the context of service distribution, which of the following is a way by which service firms can improve the quality of their service? a. Focusing on persuading customers to avail a particular service b. Minimizing the amount of time customers wait in line c. Adopting a production orientation approach d. Using only digital channels for all their services

b. Minimizing the amount of time customers wait in line

Which of the following is true of highly integrated supply chains? a. They reduce the profitability of companies. b. They are good at satisfying customers. c. They deliver low-quality products and decrease productivity. d. They focus mainly on resolving customer complaints.

b. They are good at satisfying customers.

If a product is modified by reducing its quality, the marketer's likely intent is to: a. provide new opportunities for market segmentation. b. allow a manufacturer to lower the price of the product. c. increase brand loyalty. d. help firms cater more effectively to higher socioeconomic classes.

b. allow a manufacturer to lower the price of the product.

Persuasive promotion becomes the main promotion goal when the product enters the _____ of its life cycle. a. introduction stage b. growth stage c. maturity stage d. decline stage

b. growth stage

Remonet, a smartphone manufacturer, has launched its new products—HY15, HY20, and HY50. These smartphone models are part of its HY series. HY15, being the most budget friendly, attracts more consumers and achieves better sales. In this scenario, Remonet's HY15 smartphone model is an example of a(n) _____. a. convenience product b. product item c. unsought product d. product line

b. product item

A _____ occurs when a company's management decides to add products to an existing product line to compete more broadly in the industry. a. product line reeling b. product line extension c. product line classification d. product line contraction

b. product line extension

Cleanz Inc., a toiletries manufacturing firm, has launched a new range of organic sanitizing wipes. It wants to test its consumers' reactions to this new product in an economical way. Therefore, Cleanz creates flyers that advertise several of its products along with the new product and send them to a few selected members of the target market. Besides this, it also takes the members to a mock shop and monitors their shopping behavior. In this scenario, Cleanz is using _____. a. scanner-based research testing b. simulated market testing c. virtual test marketing d. traditional test marketing

b. simulated market testing

Which of the following statements is true of sales force training? a. Training in the field via a live sales call does not provide real world experience. b. Job training in the field via live sales calls is unsupervised by trainers as it will help trainees to solve problems on their own. c. A trainee works in inside sales for an extended period of time before being given an outside territory to cover. d. It is not provided in a classroom environment.

c. A trainee works in inside sales for an extended period of time before being given an outside territory to cover.

______ is a form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status. a. Referral b. Lead qualification c. Cold calling d. Network

c. Cold calling

_____ is an arrangement in which the manufacturer and the retailer split the costs of advertising the manufacturer's brand. a. Distributive advertising b. Corporate advertising c. Cooperative advertising d. Institutional advertising

c. Cooperative advertising

_____ is the final step in the selling process, in which the salesperson ensures delivery schedules are met, goods or services perform as promised, and buyers' employees are properly trained to use the products. a. Sales analysis b. Handling objections c. Sales follow-up d. Closing the sale

c. Sales follow-up

_____ are large, departmentalized, self-service retailers that specialize in food and some nonfood items. a. Specialty stores b. Department stores c. Supermarkets d. Supercenters

c. Supermarkets

Which is true of the influencers found among early adopters? a. They come from higher-income groups and are mostly in their 30s. b. They use media differently than other users who are considered followers. c. They are distinguished not by demographics but by behavior. d. They are not focused on earning the respect of others.

c. They are distinguished not by demographics but by behavior.

Which of the following statements is true of social influences on consumer behavior? a. They exert the broadest and deepest influence when compared to other external factors. b. They include factors such as age, gender, and lifestyle. c. They help consumers obtain product information and decision approval. d. They rarely influence consumer buying decisions.

c. They help consumers obtain product information and decision approval.

When there are many substitutes available in the market for a particular product, consumers a. have a hard time switching from one product to another, making demand more elastic. b. have a hard time switching from one product to another, making demand more inelastic. c. can easily switch from one product to another, making demand more elastic. d. can easily switch from one product to another, making demand more inelastic.

c. can easily switch from one product to another, making demand more elastic.

Bryan is active user on Yelp, leaving reviews and ratings of restaurants he visits. Bryan is likely a: a. spectator. b. collector. c. critic. d. joiner.

c. critic.

A difference between people-processing services and possession-processing services is that possession-processing services a. use technology directed at a customer's assets. b. focus more on customers and not on their physical possessions. c. do not require customers to enter the service factory. d. focus more on training employees on employee-customer interactions

c. do not require customers to enter the service factory.

Unlike utilitarian value, hedonic value a. can be viewed as a means to an end. b. cannot be the sole value that a consumer receives from a service. c. gives the consumers good feelings, happiness, and satisfaction. d. is obtained from products rather than services.

c. gives the consumers good feelings,happiness, and satisfaction.

Although it is difficult to measure the ROI of a social media campaign, marketers can measure interest through: a. the number of comments, uploads, or downloads. b. the number of media mentions. c. the number of "likes," fans, or followers. d. click-through rates on websites.

c. the number of "likes," fans, or followers.

The customers' evaluation of a good or service in terms of whether that good or service has met their needs and expectations is called _____.

customer satisfaction

The relationship between the benefits a consumer receives from a product or service and what they give up to obtain those benefits is known as:

customer value

When considering strategies to promote intangible services, which of the following engages customers in postpurchase communication? a. An airline hires a well-known actor to endorse its services in a series of commercials. b. An insurance company uses an umbrella as its logo to convey that its customers are well-protected. c. A chartered accountant firm offers a 20 percent discount to customers who contract its services in January. d. A hotel sends an e-mail survey to its guests asking them to rate the quality of service that they received.

d. A hotel sends an e-mail survey to its guests asking them to rate the quality of service that they received.

Which of the following is the function of packaging? a. Containing and protecting products b. Promoting products c. Facilitating storage and recycling d. All of these are correct.

d. All of these are correct.

Which of the following relationship marketing levels is also referred to as customer intimacy? a. Structural level b. Social level c. Financial level d. Customization level

d. Customization level

_____ segmentation clusters potential customers into neighborhood lifestyle categories. a. Benefit b. Family life cycle c. Usage-rate d. Geodemographic

d. Geodemographic

Which of the following statements is true of income? a. Income makes no impact on the family life cycle. b. Income level does not influence consumers' wants. c. Income is a popular geographic variable for segmenting markets. d. Income level determines consumers' buying power.

d. Income level determines consumers' buying power.

Which of the following is a disadvantage of newspaper advertising? a. Its reach is limited to only very narrow markets. b. The advertiser commitment is short term. c. The individual market coverage is low. d. It has a low pass-along rate.

d. It has a low pass-along rate.

Which of the following options defines brand loyalty? a. It is the value of a company or brand name. b. It is that part of a brand that can be spoken, including letters, words, and numbers. c. It is a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products. d. It is a consistent preference for one brand over all others.

d. It is a consistent preference for one brand over all others.

Which of the following statements is true of culture? a. Culture is a natural phenomenon that does not require any learning. b. Cultural values and influences are non-pervasive. c. Evolving environment has made culture lose its dynamic value. d. Technology has accelerated the rate of cultural change.

d. Technology has accelerated the rate of cultural change.

Which of the following statements is true of the marketing strategies of nonprofit organizations? a. They can measure their success or failure in strictly financial terms. b. They seek to make a profit for redistribution to owners or shareholders. c. The presence of a financial "bottom line" makes it easy for nonprofit managers to make decisions. d. Their focus is often on generating enough funds to cover expenses.

d. Their focus is often on generating enough funds to cover expenses.

Vintage Travel provides a wide range of travel-related services. Which of the following can create a lasting image of their company in the minds of customers and potential users, even without them using Vintage Travel's services? a. Give special discounts only for bulk bookings. b. Use well-known celebrities to endorse their services. c. Give freebies to individuals who register on their website. d. Use attractive logos, stationary, and office space.

d. Use attractive logos, stationary, and office space.

According to social media expert Brian Solis, the term social media refers to _____. a. a marketing medium that uses visual representation on paper b. any communication channel that depends on face- to-face interaction c. a communication channel that depends on nonverbal cues d. any tool or service that uses the Internet to facilitate conversations

d. any tool or service that uses the Internet to facilitate conversations

Jenny, the owner of an ice cream parlor, has been experimenting with different flavors to create a new exotic ice cream for her customers. After much deliberation and many tests, she decides to market the new Beet Cake with Black Walnut variant. In this scenario, the chosen ice cream flavor has entered the _____ stage of the new-product development process. a. business analysis b. development c. test marketing d. commercialization

d. commercialization

An internal management philosophy under which a company customizes its product and service offering based on data generated through interactions between customers and the company is termed _____. a. preference-centric b. profit-centric c. family-centric d. customer-centric

d. customer-centric

One of the functions of universal product codes (UPCs) is to: a. allow products to be modified for improved sales. b. help customers resell products that have no market value. c. increase customer loyalty and brand value of a product. d. help retailers track and record customer purchases.

d. help retailers track and record customer purchases.

Dunchen Moo, a manufacturer of dairy products, sells evaporated milk, flavored whipped cream, and yogurts. It markets a number of yogurts, including Dunchen All Natural, Dunchen Fruit on the Bottom, Dunchen Light & Fit, DunActive, and Dun-o-nino. The large variety of yogurts sold by the Dunchen brand is collectively an example of a _____. a. market segment b. target market c. product mix d. product line

d. product line

A price reduction offered to buyers who purchase product in multiple units or above a specified dollar amount is termed a ______ discount. a. trade b. cash c. seasonal d. quantity

d. quantity

The North Star Hotel, a luxury hotel, encourages its employees to develop strong, personal relationships with guests. It offers customized toiletries to its customers based on their preferences. It also has an entire floor dedicated to suites that have air purification systems. These value-added services make the North Star Hotel unique as these services are not available at other hotels. In this scenario, the North Star Hotel is at the _____ level of relationship marketing. a. financial b. social c. customization d. structural

d. structural

Which of the following is an example of a market segment?

A group of individuals aged between 60 and 75 years

Which of the following is a critical component of a market orientation?

An understanding of competitors' strengths and weaknesses

A difference between African American populations and Asian American populations is that

Asian Americans' population growth has been fueled primarily by immigration.

___________ sustainability refers to the optimum utilization of assets so that a firm continues making profit in the long run.

Economic

Which of the following statements is true of a SWOT analysis?

It focuses on organizational resources when examining internal strengths and weaknesses.

Which of the following statements is true of the marketing concept?

It focuses on the importance of understanding customers and competition.

Which of the following is not true about cause-related marketing?

Most cause-related marketing is done by small companies.

Which of the following is not true about effective strategic planning?

Strategic planning should be done on a yearly basis.

Which of the following statements is true of franchising?

The majority of international franchises are for fast-food restaurants and business services.

Which of the following is a problem associated with conducting global market research to create a marketing mix?

The questions a marketer can ask may differ between cultures.

Angelo is an intermediary who buys goods from local manufacturers and sells those goods to buyers in other countries. While doing so, he assumes all risks involved and keeps the revenues he earns from the transactions. In this case, Angelo is most likely a(n) _____.

buyer for export

When evaluating service quality, _____ refers to the knowledge and courtesy of employees and their ability to convey trust. a. heterogeneity b. responsiveness c. assurance d. tangibility

c. assurance

Collection and interpretation of information about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan is called:

environmental scanning.

Rather than salmon, salad chain, Sweetgreen, features steelhead trout on their menu because it is farmed in more sustainable ways. This is an example of:

environmental sustainability

In a direct foreign investment, direct investors

have the highest potential risk.

Jacob visits an auto repair shop. Due to the decrease in the value of money, he learns that a spark plug would cost him 15 percent more than what he had paid for last year. In this case, Jacob has to pay more as a result of _____.

inflation

Gnosis Inc., a company that has its headquarters in Lumberne, sets up manufacturing units in different countries to increase cost savings. However, it incurs heavy losses due to the increase in fuel and transportation costs. The company's board of directors decides that it is in the best interest of the company to shift its units back to Lumberne and use local labor. The strategy adopted by Gnosis Inc. is an example of _____.

inshoring

All of the following are conditions of an exchange except:

money is the medium of exchange.

A(n) _____ is a period of economic activity characterized by negative growth.

recession

_____ is a type of integration that requires firms to link seamlessly to those outsiders that provide goods and facilities to them so that they can streamline work processes and thereby provide smooth, high-quality customer experiences. a. Technology and planning integration b. Measurement integration c. Material and service supplier integration d. Customer integration

c. Material and service supplier integration

Which of the following is a disadvantage of social media as a platform for marketing? a. Social media do not use one of the most successful marketing techniques, word of mouth marketing. b. The content on social media flows one way, from brands to consumers. c. Most marketers have not been able to figure out how to measure the benefits of social media. d. No metrics have been developed to measure social media's value.

c. Most marketers have not been able to figure out how to measure the benefits of social media.

_____ is the process of researching brain patterns and measuring certain physiological responses to marketing stimuli. a. An ethnography shop-along b. Anticipatory coping c. Neuromarketing d. A cross-tabulation

c. Neuromarketing

_____ is a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other. a. Public relations b. Sales promotion c. Personal selling d. Advertising

c. Personal selling

Which of the following is true of the promotional mix for a product in its decline stage? a. Reminder and persuasive advertising are emphasized more strongly. b. Persuasive promotion is used to build brand loyalty. c. Personal selling efforts may be maintained at the retail level. d. Sales promotion encourages early trial of the product.

c. Personal selling efforts may be maintained at the retail level.

Which of the following strategies will help service organizations overcome the perishability of services? a. Increase the credence qualities of services. b. Provide training to employees. c. Improve the standard of services. d. Find ways to synchronize supply and demand

d. Find ways to synchronize supply and demand.

Which of the following statements is true of product assortment? a. Retailers are categorized according to the relationship between their products and their customers' needs. b. Product assortment allows traditional department stores and specialty stores to use low prices and discounts to lure shoppers. c. Stores often modify their product assortments in order to accommodate factors in the external environment. d. The service levels that retailers provide can also be categorized by the width and depth of their product lines.

c. Stores often modify their product assortments in order to accommodate factors in the external environment.

A(n) _____is a series of related ads focusing on a common theme, slogan, and set of advertising appeals. a. media mix b. unique selling proposition c. advertising campaign d. advertising protocol

c. advertising campaign

Toyota manufactures many different styles and models of vehicles likely because: a. with over 1,200 dealerships in the United States, Toyota must make the models available to purchase for customers. b. customers are willing to pay money or take out a loan in order to drive a Toyota vehicle. c. customers have different preferences and needs for vehicles and offering many different styles and models allows Toyota to meet those varying preferences. d. Toyota becomes more efficient in manufacturing when producing multiple models.

c. customers have different preferences and needs for vehicles and offering many different styles and models allows Toyota to meet those varying preferences.

Services, such as libraries, fire protection, and police protection are examples of ______. a. nonfinancial pricing b. the separation between payers and users c. indirect payment d. for-profit services

c. indirect payment

Starbucks uses different kinds of coffee, dairy and non-dairy alternatives, flavor shots, and temperature levels to create a diverse array of options for customers. It uses a machine called a Clover, which allows baristas to customize brew times down to the second, specify how much exposure the water has to the coffee grounds, and dial in a precise temperature. Starbucks is well-geared toward ______. a. customization b. standardization c. mass customization d. mass standardization

c. mass customization

Customer relationship management (CRM) is implemented in firms to a. maximize the role of distributors in marketing. b. minimize the use of database technology. c. optimize customer satisfaction. d. reduce personalization of products.

c. optimize customer satisfaction.

The objective of brainstorming is to ______. a. generate a large quantity of ideas through a process of rigorous objective evaluation b. generate a small set of distilled ideas through a process of rigorous objective evaluation c. postpone objective evaluation and focus on the sheer quantity of ideas generated d. postpone objective evaluation but eliminate ideas that do gain unanimous acceptance

c. postpone objective evaluation and focus on the sheer quantity of ideas generated

In the context of the buying behavior of a family, _____ are those members of a family who actually exchange money for a product. a. consumers b. influencers c. purchasers d. initiators

c. purchasers

In the context of probability samples, a _____ sample is arranged in such a way that every element of the population has an equal chance of being selected as part of the sample. a. convenience b. judgment c. random d. quota

c. random

Cakes and Flowers, a local café, sends out hand-written greeting cards along with a box of cupcakes to all its loyal customers during Christmas week. In this case, Cakes and Flowers is evidently implementing _____. a. content marketing b. alliance marketing c. relationship marketing d. cloud marketing

c. relationship marketing

The management of CranCos Inc., a food and beverage manufacturer, decides to change the company's logo. For this purpose, it creates a website where customers can discuss and share their ideas. It chooses a group of loyal customers to send in their opinions on what colors should be used for the logo. In this scenario, CranCos Inc. is using a(n) _____ to conduct its survey. a. virtual panel provider b. offline survey system c. web community d. online focus group

c. web community

Market research should be conducted: a. only when it can be done for free. b. when a company can leverage data from the CRM system to uncover new data. c. when the expected value of the information is greater than the cost of obtaining it. d. when market share for a product has dropped for three consecutive quarters.

c. when the expected value of the information is greater than the cost of obtaining it.

A unique consequence of social media is the _____. a. experience of physically seeing and feeling a product before purchasing b. marketing of consumer goods and services to customers through personal selling c. widespread shift from one-to-many communication to many-to-many communication d. increased control of manufacturers over the content available on the Internet

c. widespread shift from one-to-many communication to many-to-many communication

The _____ is a federal agency empowered to prevent persons or corporations from using unfair methods of competition in commerce.

Federal Trade Commission

____________ is that part of a brand that can be spoken, including letters, words, and numbers. a. A brand name b. A brand mark c. Brand equity d. Brand loyalty

a. A brand name

. At which stage in the new-product development process is the decision to market a product made? a. Commercialization b. Test marketing c. Development d. Business analysis

a. Commercialization

In the context of the ever-changing marketplace, which of the following statements is true of marketing research? a. It helps in understanding the marketing environment with the aid of big data analytics. b. It overlooks the role of word of mouth advertising in the promotion process of newly launched products. c. It discourages the use of loyalty programs when marketing to improve customer relationships. d. It results in inaccurate forecast as the market place keeps changing.

a. It helps in understanding the marketing environment with the aid of big data analytics.

Which of the following statements is true of a secondary membership group? a. It includes groups with which people interact in a less consistent and formal manner. b. It influences consumers' behavior when they try to maintain distance from it. c. It is a direct reference group. d. It includes groups with which people interact regularly in an informal manner.

a. It includes groups with which people interact in a less consistent and formal manner.

In a marketing environment, which of the following statements is true of a crisis management? a. It involves responding to negative event placement. b. It involves offering seminars on money management. c. Managing publicity in a crisis situation is easy. d. Spending large money on advertisements prevents crisis.

a. It involves responding to negative event placement.

In the context of the strategies for selecting target markets, which of the following is a disadvantage of undifferentiated targeting? a. It makes a company more susceptible to competitive inroads. b. It results in market segments that are too small. c. It increases the production and marketing costs of a company. d. It leads to cannibalization.

a. It makes a company more susceptible to competitive inroads.

Which of the following refers to the practice of marking up prices by 100 percent, or doubling the cost? a. Keystoning b. Markup pricing c. Breakeven pricing d. Price matching

a. Keystoning

Which term refers to selling commodities of similar grade and quality to two or more different buyers at different prices, within a reasonably short time, where the result would be to substantially lessen competition? a. Price discrimination b. Price fixing c. Bait pricing d. Penetration pricing

a. Price discrimination

Which term refers to a pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion? a. Price skimming b. Penetration pricing c. Status quo pricing d. Sales maximization

a. Price skimming

Which of the following refers to net profit after taxes divided by total assets? a. Return on investment (ROI) b. Revenue c. Profit d. Price

a. Return on investment (ROI)

Which of the following statements is true in the context of the family life cycle? a. Young married couples without children have the highest purchase rate. b. Middle-aged married couples without dependent children are interested in new products. c. Young single individuals have many financial burdens to overcome. d. Divorced couples with children have high liquid assets.

a. Young married couples without children have the highest purchase rate.

A furniture manufacturer with a reputation for making plain, lightweight foldable steel chairs decides to make cushioned chairs with printed upholstery. The new type of chair will be a ______. a. product line extension b. discontinuous innovation c. repositioned product d. new and improved product

a. product line extension

Asian Americans are sometimes called a marketer's dream because they

are younger, better educated, and have higher incomes than average.

Which response describes how service-providing companies would most likely counter increasing competition? a. Firms would widen their range of supplementary services because reducing them is almost always disastrous. b. Firms would emphasize supplementary services or may position themselves by greatly reducing those services. c. Firms would focus entirely on their core service as supplementary services mostly do not attract customers. d. Firms would reduce their supplementary services and may also offer a less rigorous form of their core service

b. Firms would emphasize supplementary services or may position themselves by greatly reducing those services.

Which of the following is an advantage of advertising through newspapers? a. Long lead time b. Geographical flexibility c. Long-term advertiser commitments d. Extensive range of color capabilities

b. Geographical flexibility

Which of the following statements is true of supply chain agility? a. It is focused on integrating the supply-management and demand-generating functions of an organization. b. It is focused on creating inventory velocity and operational flexibility simultaneously in the supply chain. c. It is composed of bundles of interconnected activities that stretch across firms in the supply chain. d. It is a system of management practices that are consistent with a ''systems thinking'' approach.

b. It is focused on creating inventory velocity and operational flexibility simultaneously in the supply chain.

Which of the following is a disadvantage of a multisegment targeting strategy? a. It leads to lower sales volume and lower profits for a company. b. It results in cannibalization. c. It results in sterile, unimaginative product offerings. d. It reduces a firm's market share.

b. It results in cannibalization.

The number of customers who dine at Eat and Den, a restaurant, varies on weekdays and weekends. On days when customer traffic is less, Eat and Den incurs losses because the food prepared on one day will not be fresh the next day. In this scenario, which of the following characteristics of services is the reason for Eat and Den's loss of revenue? a. Heterogeneity b. Perishability c. Intangibility d. Variability

b. Perishability

Cruz Gray Inc. positions its beauty and skin care products as the only products in the market that are 100 percent natural and are not tested on animals. This gives the company a significant advantage over its competitors. In the given scenario, which of the following strategies does Cruz Gray Inc. use? a. Product cannibalization b. Product differentiation c. Market penetration d. Geographic segmentation

b. Product differentiation

Which of the following is true of brand cannibalization? a. It involves techniques that employ highly detailed data analytics in order to isolate potential customers with great precision. b. Promotion creates inaccurate sales forecasts for both the promoted and cannibalized products. c. Retailers make high profits from discounting surplus inventory of the cannibalized brand. d. Retailers incur lower costs in executing a promotion strategy.

b. Promotion creates inaccurate sales forecasts for both the promoted and cannibalized products.

Which of the following statements is not true of strategic alliances? a. They can be formed between two manufacturers, manufacturers and suppliers, or manufacturers and channel intermediaries. b. Strategic alliances are formed between companies within in the same industry. c. Strategic alliances require commitment and trust in order to be successful. d. Companies often form strategic alliances to strengthen operations and better compete.

b. Strategic alliances are formed between companies within in the same industry.

When considering the range of involvement that the target audience/customers have with a product, how do private-sector service organizations (business) and nonprofit organizations generally compare? a. The range is much narrower for nonprofit organizations. b. The range is much narrower for business service organizations. c. The range is more or less equal in the two cases. d. The range is highly unpredictable in both cases.

b. The range is much narrower for business service organizations.

Which of the following is true of companies that focus on supply chain management? a. They have low logistical flexibility. b. They have low inventory costs. c. They provide customers with a substantial increase in expenditure on company assets. d. They have high transportation and warehousing costs.

b. They have low inventory costs.

Which of the following is a characteristic of supply chain-oriented firms? a. They are better off financially in the short run but often suffer in the long run. b. They have managers with the vision required to do things that benefit the entire supply chain in the short run. c. They focus on resolving customer complaints rather than building customer relationships. d. They follow a safe plan rather than taking risks.

b. They have managers with the vision required to do things that benefit the entire supply chain in the short run.

Which of the following is true of marketing channels? a. They represent the product or service element of the marketing mix. b. They provide a route for company products and services to flow to the customer. c. They aid customers in creating time, place, and exchange utility. d. They form the "upstream" portion of the supply chain that moves raw materials to the producer.

b. They provide a route for company products and services to flow to the customer.

. Which of the following statements is true of product lines? a. They limit the product choices offered to customers to one or two product items. b. They provide economies of scale in advertising. c. They require greater transportation and warehousing costs than product items. d. They increase a firm's manufacturing and inventory costs.

b. They provide economies of scale in advertising.

Which of the following statements is true of loyalty programs? a. They reward customers for making one-time purchases. b. They provide information about customers and shopping trends. c. They aim at achieving short-term results that benefit a company. d. They lead to an increase in cost.

b. They provide information about customers and shopping trends.

Which of the following statements is a characteristic of companies that focus on supply chain management? a. They report low logistical flexibility. b. They report low transportation and warehousing costs. c. They report low quality of customer service. d. They report low revenues.

b. They report low transportation and warehousing costs.

Eve Aura, a manufacturer of bath and beauty products, predominantly sells convenience products. Given this information, which is a characteristic of Eve Aura's products? a. They are bought very rarely by consumers. b. They require wide distribution in order to sell sufficient quantities. c. They are purchased after more planning effort than specialty products. d. They will be more expensive than shopping products.

b. They require wide distribution in order to sell sufficient quantities.

The sales environment: a. is always at the customer's place of business. b. changes constantly. c. remains the same. d. is always at the salesperson's place of business.

b. changes constantly.

Maria sees a leather coat in a department store and purchases it immediately even though it is expensive. Before purchasing, she experiences inner tension that she may be able to purchase the same coat for a lesser price in another store. This inner tension is an example of _____. a. subliminal perception b. cognitive dissonance c. need recognition d. selective exposure

b. cognitive dissonance

Magnira, a cosmetics brand, launched a face cleansing cream. The television advertisements for the product promote that it is a medically proven cure for acne. Given the information, Magnira most likely uses a(n) _____ for its new product. a. universal marketing strategy b. concentrated targeting strategy c. undifferentiated targeting strategy d. multisegment targeting strategy

b. concentrated targeting strategy

In the context of market data analysis, _____ allow analysts to look at the responses to one question in relation to the responses to one or more other questions. a. oa. one-way frequency counts b. cross-tabulations c. two-way surveys d. open-ended questions

b. cross-tabulations

Fresnas Designs Inc. is a company known for its quality interior decorations, customized service, and affordable prices. Given the high demand for its service, Fresnas' management could price its products higher, but it prefers to price its products such that it will earn a reasonable revenue. Fresnas bases its pricing policy on _____. a. sales maximization b. earning satisfactory profits c. creating retained earnings d. status quo pricing

b. earning satisfactory profits

A competitive advantage includes features such as _____. a. mediocre product quality b. excellent service c. high prices d. prolonged delivery processes

b. excellent service

Marketing costs are high in the introductory stage of the product life cycle because a. product design changes become stylistic rather than functional. b. high dealer margins are often needed to obtain adequate distribution. c. manufacturers scramble to sign up dealers and distributors. d. emphasis is given to communicating the differences among brands in the market

b. high dealer margins are often needed to obtain adequate distribution.

Unlike a firm that strives for market share, a firm with the objective of maximizing sales a. possesses adequate funds and faces an optimistic future. b. ignores profits, competition, and the marketing environment as long as sales are rising. c. benefits from maximization of cash if it is adopted as a long-run objective. d. seeks to maintain existing prices or to meet the competition's prices.

b. ignores profits, competition, and the marketing environment as long as sales are rising.

An objective of strategic retailing is to a. decrease store traffic. b. increase total sales. c. increase the cost of goods sold. d. focus mainly on online selling.

b. increase total sales.

At a local supermarket, Linda saw a box of plant fertilizer that retails at $25 but was marked down to $20.99. Given this information, $20.99 is the _____. a. dividend b. price c. margin d. profit

b. price

Selma wants to buy a budget smartphone with good features. However, she cannot decide which one to buy. She asks her coworkers for their advice. In this scenario, Selma's buying decision is likely to be influenced by a(n) _____. a. nonaspirational reference group b. primary membership group c. secondary membership group d. aspirational reference group

b. primary membership group

All products that an organization sells constitute its ______________. a. product line b. product mix c. product mix width d. product line depth

b. product mix

. To increase the popularity of its new range of smartphones, GizmoPro Inc. offered several free accessories to customers who bought their smartphones. However, the offer turned out to be unsustainable and the company had to offer discounts on the accessories instead. GizmoPro's decision is aimed at _____. a. market share pricing b. profit maximization c. demand orientation d. sales maximization

b. profit maximization

Social news sites are useful for a. locating and navigating to different places. b. promoting campaigns, creating conversations around related issues, and building website traffic. c. keeping in touch with friends, making new friends, and socializing with members on the site. d. uploading, storing, and sharing personal photos.

b. promoting campaigns, creating conversations around related issues, and building website traffic.

A sales _____ is a written document or professional presentation that outlines how a company's product or service will meet or exceed the client's needs. a. record b. proposal c. pitch d. portfolio

b. proposal

In the context of business products, unprocessed extractive or agricultural products are called _____. a. major equipment b. raw materials c. accessory equipment d. component parts

b. raw materials

In the context of evaluative criteria, installing equipment and training its users is an example of _____. a. technical suitability b. service c. modified rebuy d. product quality

b. service

For convenience, pricing objectives can be divided into three categories: profit oriented, sales oriented, and ______. a. marketing oriented b. status quo c. inventory oriented d. tax oriented

b. status quo

In thinking about different types of sales promotions, winning a ______ depends on chance and participation or entry is free while a ______ requires some skill or ability to compete for prizes. a. contest; loyalty rewards program b. sweepstakes; contest c. loyalty rewards program; premium d. rebate; sweepstakes

b. sweepstakes; contest

_____ is defined as a cooperative agreement between business firms. a. A straight rebuy b. The content marketing statute c. A relationship marketing contract d. A strategic alliance

d. A strategic alliance

Which of the following statements is true about the effects of advertising on consumers? a. Advertising cannot instill brand loyalty among customers. b. Humorous ads are ineffective at shaping attitudes of customers. c. Advertising reinforces positive attitudes toward brands. d. Advertising can change consumers' deeply rooted values and attitudes

c. Advertising reinforces positive attitudes toward brands.

Which of the following is a characteristic shared by both early majority and the late majority? a. Both tend to have opinion leaders within their groups. b. Both rely on science and experts for information. c. Both depend on word-of-mouth communication. d. Both are primarily influenced by the mass media.

c. Both depend on word-of-mouth communication.

Which of the following statements is a similarity between retailers and wholesalers? a. Both dramatically alter the form of a good. b. Both only facilitate sales of products. c. Both take title to products in the marketing channel. d. Both sell directly to consumers as their primary function

c. Both take title to products in the marketing channel.

_____ involves monitoring and leveraging customer interactions to sell a company's products and to increase customer service. a. Customer profiling b. Handling objections c. Campaign management d. Need profiling

c. Campaign management

Which of the following statements is true of an unsought product? a. Marketers of unsought products often use selective, status-conscious advertising to maintain a product's exclusive image. b. Consumers buy unsought products regularly, usually without much planning and at inexpensive prices. c. Companies dealing with unsought products must go directly to consumers through a salesperson, direct mail, or direct response advertising to create awareness about their products. d. Consumers usually buy an unsought product only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility

c. Companies dealing with unsought products must go directly to consumers through a salesperson, direct mail, or direct response advertising to create awareness about their products

Which of the following is a difference between customized and standardized products? a. Customized products use indirect marketing channels, whereas standardized products use direct marketing channels. b. Customized products benefit from long distribution channels, whereas standardized products benefit from short distribution channels. c. Customized products are sold through agents or brokers, whereas standardized products are sold through merchant wholesalers and retailers. d. Customized products cost less, whereas standardized products cost more.

c. Customized products are sold through agents or brokers, whereas standardized products are sold through merchant wholesalers and retailers.

_____ is a price tactic in which different customers pay different prices for essentially the same merchandise bought in equal quantities. a. One-part pricing b. Price lining c. Flexible pricing d. Price skimming

c. Flexible pricing

______________ is when a product or company attempts to give the impression of environmental friendliness whether or not it is environmentally friendly. a. Family branding b. Informational labeling c. Greenwashing d. Captive branding

c. Greenwashing

Brian is a blue-collar worker who works in a shipping industry. He receives a daily wage as per his working hours. Given this information, which of the following is likely to be true? a. He rates job satisfaction as the most important reason for taking a job. b. He does not belong to the middle-class lifestyle. c. He depends on others for economic and emotional support. d. He does not utilize the Internet to make his buying decisions.

c. He depends on others for economic and emotional support.

_____ is the inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. a. Self-actualization b. Subliminal perception c. Stimulus generalization d. Cognitive dissonance

d. Cognitive dissonance

Which of the following is a form of advertising that firms use when a product enters the growth phase of the product life cycle and other companies begin to enter the marketplace? a. Advocacy advertising b. Comparative advertising c. Pioneering advertising d. Competitive advertising

d. Competitive advertising

Which of the following is not one of the main areas that service distribution must focus on? a. Minimizing wait times b. Managing service capacity c. Increasing profitability through customer service d. Improving service delivery

c. Increasing profitability through customer service

______________ is a specific type of package labeling designed to help consumers make proper product selections and lower their cognitive dissonance after the purchase. a. Descriptive labeling b. Persuasive labeling c. Informational labeling d. Standardized labeling

c. Informational labeling

Which of the following statements is true of owned media? a. It boosts the declining demand for newspapers and magazines. b. It is the word of mouth or online buzz about something a brand is doing. c. It constitutes the presence of a brand on a social media network. d. It involves media that spread information face-to- face rather than online.

c. It constitutes the presence of a brand on a social media network.

Which of the following is true of outsourcing logistics functions? a. It enables companies to locate stock at more plants. b. It requires companies to acquire more distribution centers for their products. c. It enables companies to refocus investment on their core business. d. It enables companies to enlarge their inventories.

c. It enables companies to refocus investment on their core business.

Which of the following statements is true of value-based pricing? a. It is a modification of uniform delivered pricing. b. It is sometimes called postage stamp pricing. c. It has grown out of the quality movement. d. It presents drawbacks if costs are continually rising.

c. It has grown out of the quality movement.

Which of the following defines contract logistics? a. It is a firm's decision to conduct all its functions internally. b. It is the transfer of a firm's employees from its office to homes with appropriate technological facilities. c. It is a firm's use of an independent third party to manage transportation and warehousing. d. It is the process of obtaining services and ideas by inviting contributions from various individuals.

c. It is a firm's use of an independent third party to manage transportation and warehousing.

Which of the following best defines a sales presentation? a. It is directed toward creating a strong message that increases the recall value of a brand among its consumers. b. It is a written document that outlines how the company's product or service will meet or exceed the client's needs. c. It is a formal meeting in which a salesperson has the opportunity to deliver a sales proposal. d. It is the portfolio of a company's product or service that they wish to market to a prospective client.

c. It is a formal meeting in which a salesperson has the opportunity to deliver a sales proposal.

_____ is defined as the coordinated effort to handle the effects of unfavorable publicity, ensuring fast and accurate communication in times of emergency. a. Negative campaigning b. Audience selection c. Media scheduling d. Crisis management

d. Crisis management

When evaluating service quality, which statement is true of reliability? a. It involves being caring and paying individualized attention to customers. b. It involves providing prompt service to customers. c. It is performing the service right the first time. d. It refers to the knowledge and courtesy of employees.

c. It is performing the service right the first time.

Which of the following statements is true of relationship integration? a. It is when multiple firms or their functional areas in a supply chain coordinate business processes so they are linked to one another. b. It is composed of bundles of interconnected activities that stretch across firms in the supply chain. c. It is the ability of two or more companies to develop social connections that serve to guide their interactions when working together. d. It is a system of management practices that are consistent with a ''systems thinking'' approach.

c. It is the ability of two or more companies to develop social connections that serve to guide their interactions when working together.

Which of the following statements best defines dynamic pricing? a. It is the practice of marking up prices by 100 percent, or doubling the cost. b. It is a basic, long-term pricing framework that establishes the initial price for a product. c. It is the ability to change prices very quickly. d. It is the practice of charging a very low price for a product with the intent of driving competitors out of business.

c. It is the ability to change prices very quickly.

In the context of online campaigns, which of the following statements is true of awareness? a. It includes everything from downloading a piece of content to actually making a purchase. b. It refers to the interactions between the brand and the audience. c. It is the attention that social media attracts, like the number of fans. d. It is generally used as the second step in the marketing funnel.

c. It is the attention that social media attracts, like the number of fans.

In the context of use of secondary data in marketing research, which of the following statements is true of big data? a. It is the information collected for the first time to solve a research-oriented problem. b. It is the revival of simple, conventional tools to analyze and create meaning from accumulated data. c. It is the exponential growth in the volume, variety, and velocity of information. d. It refers to data sets that are formed when data analysis is quantitative in nature.

c. It is the exponential growth in the volume, variety, and velocity of information.

Which global brand name strategy is useful when the marketer wants the brand to appear to be a local brand or when regulations require localization? a. One-brand-name everywhere b. Adaptations and modifications c. Transactional marketing strategy d. Different brand names in different markets

d. Different brand names in different markets

When developing new product, which is true of a new-product development strategy? a. It refrains from adopting ideas suggested by customers and competitors. b. It doesn't provide the general guidelines for new-product ideas. c. It must be compatible with the objectives of the marketing department, the business unit, and the corporation. d. It involves targeting existing products at new markets.

c. It must be compatible with the objectives of the marketing department, the business unit, and the corporation.

Which of the following statements is true of customer relationship management (CRM)? a. It views the market as one big market with no individual segments. b. It depends on traditional mass-media approaches for marketing. c. It personalizes customers' experience according to their needs. d. It requires customers to spend more time making purchase decisions.

c. It personalizes customers' experience according to their needs.

_____ are pathways for moving products and information toward customers such that they can be sent and/or received with electronic devices.

d. Digital channels

Which of the following is true of the retail operation model of a specialty shop? a. It focuses on carrying wide assortments of merchandise that are fairly shallow. b. It requires retail managers to keep a lower amount of floor stock and back stock. c. It uses a high-service approach that is supported by an agile approach to inventory. d. It de-emphasizes customer service and product selection in favor of lower prices.

c. It uses a high-service approach that is supported by an agile approach to inventory.

NutriOats, an oatmeal cookie product, has been in the market for more than seven years and is now in its decline stage. In this case, which of the following strategies would be successful in marketing NutriOats? a. Lengthen the product line. b. Focus on adding new users. c. Spend heavily on advertising to educate consumers about the product's benefits. d. Eliminate all nonessential marketing expenses and let sales decline.

d. Eliminate all nonessential marketing expenses and let sales decline.

_____ is the conversion of a sender's ideas and thoughts into a message, usually in the form of words or signs.

d. Encoding

Which of the following is a reason for the increasing popularity of the integrated marketing communications concept? a. Different segmented markets have fused to form a mass market with common needs and desires. b. Marketers have discontinued the use of online advertising because of its lack of measurability. c. Marketers have slashed their advertisement spending in favor of promotional techniques that generate immediate sales responses. d. The proliferation of thousands of media choices beyond traditional television has made promotion an easy task.

c. Marketers have slashed their advertisement spending in favor of promotional techniques that generate immediate sales responses.

Which of the following is an implication of social media for marketers? a. Marketers must realize that it is enough for them to have a great ad campaign on social media for successful promotion. b. Marketers must understand that social media lack methods to measure the interaction between marketers and customers. c. Marketers must realize that they often do not control the content on social media sites. d. Marketers must understand that word of mouth spreads slowly on social media sites.

c. Marketers must realize that they often do not control the content on social media sites.

Which of the following is a characteristic of niche-oriented type of shopping bot? a. It searches a wide range of product categories. b. The sites it accesses operate using a Yellow Pages type of model. c. Consumers can find the list of all retailers. d. It searches for prices for only one type of product.

d. It searches for prices for only one type of product.

In the context of business products, which of the following statements is true of major equipment? a. Local industrial distributors play an important role in the marketing of major equipment. b. Major equipment is less expensive and shorter- lived than accessory equipment. c. Portable drills, power tools, and computer software are examples of major equipment. d. Personal selling is an important part of the marketing strategy for major equipment.

d. Personal selling is an important part of the marketing strategy for major equipment.

Which of the following pricing strategies is subject to government regulation? a. Penetration pricing b. Status quo pricing c. Price skimming d. Price fixing

d. Price fixing

__________ is the practice of offering a product line with several items at specific price points. a. Bait pricing b. Price bundling c. Odd-even pricing d. Price lining

d. Price lining

Which statement is true of trademarks? a. Trademark rights are effective from the date of registration. b. Rights to trademarks are also given to generic product names. c. Trademark protection must be renewed every year. d. Rights to trademarks last as long as the mark is used.

d. Rights to trademarks last as long as the mark is used.

Which of the following is true of franchisees? a. They own the brand and grant licenses to franchisors to operate and sell products under the franchisee's name. b. They decide the trade name, product, and methods of operation. c. They receive a pay from the franchisor to use the franchisee's name, product, and business methods. d. They take advantage of the franchisor's brand equity and operational expertise.

d. They take advantage of the franchisor's brand equity and operational expertise.

According to Maslow's hierarchy of needs theory, physiological needs should be satisfied first because they a. tend to attract marketers more than any other needs. b. include a sense of love and belonging. c. are the highest human needs. d. are essential to a person's survival.

d. are essential to a person's survival.

The PLC for a brand that was the first and last competitor in a product form market is ______. a. said to be zero or nil b. longer than that of the product form c. shorter than that of the product form d. as long as that of the product form

d. as long as that of the product form

By synchronizing supply and demand, a service provider can reduce the problem of ______. a. intangibility b. heterogeneity c. inseparability d. perishability

d. perishability

A price skimming strategy is most often used for a new product when a. competition in the market is abundant. b. customers are unwilling to spend a large amount of money on the product. c. the supply of the product is greater than its demand. d. the product is perceived by the target market as having unique advantages.

d. the product is perceived by the target market as having unique advantages.

During off-season, the Rues Hotel offers a 25 percent discount on its rooms to attract guests. The Rues Hotel is demonstrating the ______. a. power of yield management systems b. advantage of markup pricing c. relationship between price and quality d. use of price as a promotional tool

d. use of price as a promotional tool

It could be said that, at least from a marketing perspective, it is harder to convey the advantages of adopting a plastic-free lifestyle, than it is to sell the idea of having a microwave oven. This sentiment indicates that the benefit strength of many nonprofit offerings is quite ______. a. weak but direct b. strong but indirect c. strong and direct d. weak or indirect

d. weak or indirect

To increase sales of its low-fat pizzas in its established market, Dietizza is offering discounts on all its pizzas. According to Ansoff's strategic opportunity matrix, Dietizza has adopted the _____ alternative.

market penetration

_____ are people born between 1946 and 1964.

Baby Boomers

The goal of strategic planning is to

achieve long-run profitability and growth.

When someone gives up something in order to receive something else they would rather have, it is called:

an exchange

_____ is a photo sharing website. a. Foursquare b. Imgur c. LinkedIn d. Vine

b. Imgur

_____, also known as gadgets and badges, are software applications that run entirely within existing online platforms. a. Web apps b. Web widgets c. Tool boxes d. Microblogs

b. Web widgets

Compared to convenience products, shopping products are: a. less expensive. b. found in fewer stores. c. purchased without significant planning. d. new products unknown to a potential buyer

b. found in fewer stores.

A situation in which an increase or a decrease in price will not significantly affect demand for the product is called __________ demand. a. elastic b. inelastic c. stagnant d. fluctuating

b. inelastic

A(n) _____ identifies a reason for a person to buy a product. a. trade allowance b. media schedule c. advertising appeal d. advocacy advertisement

c. advertising appeal

An upmarket dressmaking company deliberately keeps its number of outlets very low even after years of climbing profits. There are no more than two in any major city of the United States. The policy may be justified in terms of the company's objective to ______. a. cut costs b. meet market's needs c. be exclusive d. play it safe

c. be exclusive

A search quality of a product or service is a characteristic that can be ______. a. assessed only after using the purchase b. hard to describe even after its use c. easily assessed before purchase d. experienced only on payment for the product or service

c. easily assessed before purchase

Competitive intelligence: a. identifies a company's internal strengths and weaknesses and external opportunities and threats. b. is a unique set of features of a company and its products that are perceived by the target market as significant and superior to those of the competition. c. helps managers assess their competition and vendors in order to become more efficient and effective competitors. d. is a means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds.

c. helps managers assess their competition and vendors in order to become more efficient and effective competitors.

Remembering only information that supports personal feelings or beliefs is called _____. a. subliminal perception b. self-actualization c. selective retention d. cognitive dissonance

c. selective retention

Insurance claims are an example of ______. a. below-cost pricing in the profit sector b. below-cost pricing in the nonprofit sector c. separation between payers and users in the profit sector d. separation between payers and users in the nonprofit sector

c. separation between payers and users in the profit sector

Zack & Marlo Inc. earns heavy profits through its online retail division. Its website offers several unique features such as allowing users to ask for suggestions and rate or recommend its products. Such functionalities help Zack & Marlo Inc. to expand its customer base rapidly. This is an example of _____. a. crowdsourcing b. text mining c. social commerce d. sentiment analysis

c. social commerce

A particular item for which consumers search extensively and are very reluctant to accept substitutes is called a(n) __________. a. convenience product b. shopping product c. specialty product d. unsought product

c. specialty product

__________ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

control

According to Ansoff's strategic opportunity matrix, a product development strategy entails

creating new products for present markets.

Magnira Inc., a cosmetics brand, wants to understand its customers better by interacting with them. It starts off by gathering information about who its customers are and where they are located. In the given scenario, which of the following steps of the customer relationship management (CRM) cycle is Magnira Inc. executing? a. Identifying profitable and unprofitable customers b. Leveraging customer information to all areas of their business c. Conducting an ethnographic research d. Identifying customer associations with the organization

d. Identifying customer associations with the organization

_____ demand means that an increase or decrease in the price of a product will not significantly affect demand for the product. a. Derived b. Fluctuating c. Joint d. Inelastic

d. Inelastic

Which of the following statements is true of the descriptive role of marketing research? a. It includes addressing "what if" questions. b. It includes making rules, laws, or directions. c. It includes determining the impact on sales of a design change. d. It includes gathering and presenting factual statements.

d. It includes gathering and presenting factual statements.

Which of the following is a disadvantage of having a freestanding unit? a. It does not allow the store to build an identity with shoppers. b. It has high site costs or rent. c. It reduces the visibility of the store. d. It is difficult to attract customers to a freestanding location.

d. It is difficult to attract customers to a freestanding location.

Which of the following statements is true of the multiplier effect? a. It happens when there is inelastic demand. b. It leads to little or no change in facilities and equipment of businesses that produce consumer products. c. It happens because business demand is more stable than the demand for consumer products. d. It produces highly fluctuating demand for business products.

d. It produces highly fluctuating demand for business products.

Which strategy uses technology to deliver tailor-made services on a large scale? a. Place strategy b. Promotion strategy c. The service mix d. Mass customization

d. Mass customization

Which of the following is an example of a marketing-controlled information source? a. Personal experiences b. Friends c. Personal memories d. Salespeople

d. Salespeople

According to Maslow's hierarchy of needs, which of the following needs is a social need? a. Security b. Sense of accomplishment c. Shelter d. Sense of belonging

d. Sense of belonging

. Which of the following characteristics of service is the least related to the display of human behavior, interpersonal interaction, and knowledge? a. Reliability b. Assurance c. Responsiveness d. Tangibles

d. Tangibles

Unlike push money, trade allowance a. seldom helps in sales promotion. b. gives lower return on investment than push money. c. involves offering customers coupons and rebates. d. involves offering price reductions.

d. involves offering price reductions.

In order to proactively handle service recovery, a firm should a. implement a no-exchange policy. b. restrict product recall if a product fails. c. be ambiguous when certain products are not available. d. notify customers in advance of stockouts.

d. notify customers in advance of stockouts.

The term that describes the service process that takes place when the service is directed at a customer is called ____________________. a. information processing b. possession processing c. mental stimulus processing d. people processing

d. people processing

Marketers who want to make sure that consumers are treated as unique individuals with distinct needs and wants will be most successful if they follow the customer relationship management (CRM) trend of _____. a. mass marketing b. technology c. undifferentiated targeting d. personalization

d. personalization

A _____ includes any promotional display set up at a retailer's location to build traffic, advertise a product, or induce impulse buying. a. point-of-contact display b. segment-based advertisement c. sampling-based advertisement d. point-of-purchase display

d. point-of-purchase display

Product line depth refers to the number of: a. competitors present in the market for a particular product line. b. product lines that an organization offers. c. market segments a firm is willing to target or serve. d. product items in a product line.

d. product items in a product line.

A cash refund given for the purchase of a product during a specific period is called a. cash discount. b. quantity discount. c. functional discount. d. rebate.

d. rebate.

CVS Health engaged in strategic planning when it:

decided to no longer sell tobacco products in its stores.

A company that suffers from marketing myopia:

defined their business in terms of goods and services rather than in terms of the benefits customers seek.

Active ownership of a foreign company, of overseas manufacturing, or of marketing facilities is called _____.

direct foreign investment

When thinking about modes of social control, acceptance of standards established by advocacy groups and trade associations:

is voluntary self-regulation by companies who wish to act ethically.

According to Ansoff's strategic opportunity matrix, a company is most likely to be using a market development strategy when

it sells existing products to new and existing buyers.

Which of the following can help businesses maintain their market share and profit margins?

Working hard despite growing challenges

_____ pricing focuses on the worth of a product to a consumer more than the cost of the product to a supplier. a. Value-based b. Revenue-oriented c. Operations-oriented d. Bundle

a. Value-based

A brand manufactured by a third party for an exclusive retailer, without evidence of that retailer's affiliation, is called a(n) ______________. a. captive brand b. private brand c. manufacturer's brand d. individual brand

a. captive brand

Krackle, a food manufacturing company, added two new flavors to its famous line of potato chips. After introducing the flavors, Krackle advertised the new variations of chips through advertisements for a period of six months. This was done to stimulate the interest of consumers in the new products. In this scenario, Krackle employed _____. a. informative promotion b. reminder promotion c. connective promotion d. persuasive promotion

a. informative promotion

Which of the following are true of marketing?

- It entails processes that focus on delivering value and benefits to customers. - It is a philosophy or perspective that stresses customer satisfaction. - It involves building long-term, mutually beneficial relationships.

Studying marketing is important because:

- regardless of your major, it is important to have a basic understanding of all business areas. - it allows students to become better informed citizens. - marketing contributes directly to a company's profits and growth.

Which of the following statements is true of the business market in the United States? a. The key characteristic distinguishing business products from consumer products is physical form. b. In the business market, a single customer cannot account for a huge volume of purchases. c. The size of the business market exceeds the size of consumer markets. d. Business markets sell goods and services for personal consumption.

.c. The size of the business market exceeds the size of consumer markets.

Which of the following is a difference between a code of ethics and morals?

A code of ethics is a culmination of principles that help in making the decision of what is good or bad, while morals are the beliefs of the individual or group as to what is right or wrong.

Which of the following statements is true of the external marketing environment?

A marketing mix is designed to appeal to a specific group of potential buyers.

Which of the following statements is a difference between a production orientation and a sales orientation?

A production orientation focuses on the internal capabilities of a firm, while a sales orientation focusses on increasing a firm's profits by using aggressive advertisements.

A difference between Generation X and Baby Boomers is that

Baby Boomers outspend in categories such as personal care products and medical care.

In the context of ethnic markets in the United States, which of the following statements is true?

By 2050, around one in three U.S. residents will be of Hispanic descent.

In order to stimulate innovation, Harlose Inc. allows its researchers to devote 2-3 hours of their normal work schedule to pursue their own ideas and projects. Which of the following approaches is the company using in this case to stimulate innovation?

Catering to entrepreneurs

Mathew purchased a new cell phone. As per the manual, the battery should be charged for at least 3 hours before its first use. After just 1 hour of charging, the phone exploded. The explosion was due to a problem with the battery. In this case, Mathew can lodge a complaint with the _____ against the cell phone company.

Consumer Product Safety Commission

The sole purpose of the _____ is to protect the health and safety of consumers in and around their homes.

Consumer Product Safety Commission

Which of the following indicates a business's concern for the long-range welfare of both the company and its relationship to the society within which it operates?

Corporate social responsibility

Laelle Corp. is a fashion apparel store. The manager of the store encourages his employees to come up with new dress designs every month. The employees are told that they have to present the designs without the hesitation of failure. The creator of the best dress is rewarded. Which of the following approaches is used by Laelle Corp.?

Creating an innovative environment

Which of the following is the first step in creating a global marketing mix?

Developing a thorough understanding of the international target market

LG, a South Korean electronics company, has four divisions: Home Entertainment, Mobile Communications, Home Appliance & Air Solution, and Vehicle Components. In order for each of these divisions to be considered strategic business units, which of the following must be true?

Each division plans independently of the others.

Which of the following statements is a difference between first-stage multinational companies and second-stage multinational companies?

First-stage multinational companies operate in one country and sell into others, whereas second-stage multinationals set up foreign subsidiaries to handle sales in one country.

The _____ was enacted because Congress was concerned about U.S. corporations' use of illegal payments and bribes in international business dealings.

Foreign Corrupt Practices Act (FCPA)

Which of the following is true in the context of foreign competition in the U.S. market?

Foreign firms in U.S. markets now focus on product quality rather than price.

_____ is a form of licensing that has grown rapidly in recent years.

Franchising

_____ was the first generation of latchkey children—products of dual-career households or, in roughly half of the cases, of divorced or separated parents.

Generation X

_____ are people born between 1979 and 1994.

Generation Y

Which of the following statements is true of ethics training?

Giving employees a long list of dos and don'ts does not really help employees navigate the gray areas or adapt to a changing world market.

Which of the following is a benefit of outsourcing for the developing countries?

Global export markets and advanced technology

_____ marketing is the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment.

Green

Fresnas Inc. is a furniture manufacturing company. It has taken the initiative of incorporating social responsibility as one of the firm's new foundations. In order to carry out the business in the favor of its clients as well as the environment, the company uses a third-party eco-logo that indicates the use of recycling as a method of production and focuses on the primary benefits of their products that save their customers' money. Which of the following marketing techniques has been implemented by Fresnas Inc.?

Green marketing

Which of the following is a reason for firms to adopt a societal marketing orientation?

Growing environmental concerns

Which of the following is an example of outsourcing?

Harlose Inc., a firm based in Acquardica, shifts its manufacturing units to a country where cheap labor is available.

Which of the following strategies can help businesses foster innovation?

Hiring employees with high risk tolerance

In the context of modes of social control, which of the following is true of ethics?

In the context of modes of social control, which of the following is true of ethics?

In the context of the relationship between businesses and governments, which of the following statements is true?

In the context of the relationship between businesses and governments, which of the following statements is true?

_____ is a measure of the decrease in the value of money, generally expressed as the percentage reduction in value since the previous year.

Inflation

In the context of the marketing mix, which of the following statements is true of price?

It can be raised or lowered by marketers.

Which of the following statements is true of stakeholder theory?

It considers the local community to be one of the stakeholders.

Which of the following is true of social media marketing?

It differs from culture to culture; and, hence, cultural differences should be kept in mind while marketing.

In the context of ethical theories, which of the following statements is true of act utilitarianism?

It involves performing acts that benefit the most people, regardless of societal constraints.

Which of the following statements is true of a virtue?

It is a character trait valued as being good.

Which of the following is true of a company that is in the fourth stage of global business development?

It is present in countries where it can gain a competitive edge through talent or capital.

Which of the following defines the DISC of inshoring?

It is the practice of returning production jobs to the United States.

Which of the following statements is true of gross domestic product (GDP)?

It is the total market value of all final goods and services produced in a country for a given time period.

In the context of relationship marketing, which of the following statements is true of empowerment?

It refers to having the authority to solve customer problems on the spot.

In the context of economic factors, which of the following statements is true of disposable income?

It refers to the income available after paying taxes.

Magnira Chocolates, a company in Sparanthea, signed an agreement with Chocolate Town that enables Magnira Chocolates to sell Champ Candy in Sparanthea by giving royalty payments to Chocolate Town. Which of the following marketing strategies is illustrated in this scenario?

Licensing

Which of the following is a difference between outsourcing and inshoring?

Outsourcing is the sending of home country jobs abroad, whereas inshoring is the returning of outsourced jobs to the home country.

John, an attorney at a private law firm, has a tendency to be egocentric. When choosing clients on behalf of his company, he always focuses on what immediate benefits he can gain from the clients. Which of the following levels of ethical development is illustrated in this scenario?

Preconventional morality

_____ is measured by comparing income to the relative cost of a standard set of goods and services in different geographic areas.

Purchasing power

__________ suggests that corporate social responsibility is composed of economic, legal, ethical, and philanthropic responsibilities and that a firm's economic performance supports the entire structure.

Pyramid of corporate social responsibility

Which of the following statements is true of demographic characteristics?

They are strongly related to consumer buying behavior in the marketplace.

In the context of modes of social control, which of the following statements is true of civil societies?

They can help mold individual and corporate behavior.

Which of the following statements is an indication of the impact of vast differences in natural resources?

They create export opportunities for countries with abundant resources.

Identify a true statement about sales-oriented firms.

They target their products at "everybody" or the "average customer."

In the context of external environment, which of the following is true of natural resources?

Vast differences in natural resources result in major shifts of wealth among countries.

Which of the following defines gamification? a. It is the process of offering free game kits along with specific sporting goods. b. It is the process of using game mechanics and a gaming mindset to engage an audience. c. It is the process of using pop-up advertisements while playing a virtual game on the Internet. d. It is the process of promoting products using outdoor games such as soccer.

`b. It is the process of using game mechanics and a gaming mindset to engage an audience.

In an attempt to re-establish a prominent market dominance, Merith Vern, a goods transportation company, performed a study of its current and potential environment in which its service would be marketed. In this scenario, Merith Vern has most likely used _____ in an attempt to re-establish the prominence of its service in the market.

a SWOT analysis

A statement of what is to be accomplished through marketing activities is called _____.

a marketing objective

Mobile research: (Check all that apply) a. can provide immediate feedback when a consumer makes a purchase decision. b. can be completed by a customer on the train, as they wait at a restaurant, or if they are early for an appointment. c. allows participants to respond to direct and immediate questions. d. is difficult to conduct.

a,b,c

Statements like: "Call now!" and "For a limited time only!" would be common during which stage of the AIDA model? a. Action b. Interest c. Attention d. Desire

a. Action

_____ demand occurs when two or more items are used together in a final product. a. Joint b. Fluctuating c. Inelastic d. Elastic

a. Joint

Identify a similarity between laggards and innovators. a. Neither relies on group norms. b. Neither is rooted in tradition. c. Both are eager to try new products. d. Both exhibit short adoption time.

a. Neither relies on group norms.

Unlike national retail advertising, local advertising by retailers a. provides specific information about their stores. b. aims at positioning a brand in consumers' minds. c. focuses on image. d. is used only by independent retailers.

a. provides specific information about their stores.

School Time, a stationery manufacturing company, has decided to stop manufacturing paper from wood fiber. Instead, it has come up with a technology that creates paper from artificially developed cellulose. School Time has taken this step to mitigate any future environmental risks. This scenario is an example of a. the demand management process. b. sustainable supply chain management. c. mass customization. d. a drop and shop program.

b. sustainable supply chain management.

As output is increased or decreased, the ______ costs remains unchanged. a. marginal b. dependent c. fixed d. opportunity

c. fixed

Marketing managers can manage the reputation of their company by a. gaining insight into their competitors' operations. b. projecting the positive aspects and withholding the negative aspects of a product. c. responding to comments and criticism that appear on blogs and forums. d. building relationships and awareness about their products.

c. responding to comments and criticism that appear on blogs and forums.

Ritufa Foods, a food processing company, has collaborated with a nonprofit organization in an initiative to fund salad bars in schools across the country. A small percentage of the money that consumers use to buy products of Ritufa Foods will be given to the nonprofit organization. The money will then be used by the nonprofit organization to fund the salad bars. This partnership with the nonprofit organization is an example of _____.

cause-related marketing

At Magnira Corp., a tannery, the board of directors decide that they should install discharge systems that would help them conform to the effluent guidelines set by the government. They are not concerned about how it might affect the company's profits in the long run. They are satisfied with the fact that their actions are legal and will boost the image of their firm as an environment-friendly organization. This shows that the company is at the level of _____.

conventional morality

Effective strategic planning requires _____.

creativity

A marketing concept includes

distinguishing a firm's products from its competitors' offerings.

Individualism, one of America's core values, asserts that

each person is unique and special in their own way.

In the pyramid of corporate social responsibility, _____ performance forms the foundation for the other responsibilities.

economic

In the context of the marketing mix, the goal of distribution strategies is to

ensure that products arrive in usable condition at designated places when needed.

A(n) _____ is a law that compels a company earning foreign currency from its exports to sell it to a central bank.

exchange control

In the context of a SWOT analysis, the environmental scanning process is used to

identify market opportunities and threats.

_____ is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives.

implementing

Strategic planning:

is the process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities.

Magnira Corp., an online fashion retailer, frequently takes design submissions from its users, evaluates them, and produces the ones that most closely fit the seasonal look. It focuses on its customer's needs and on what its competitors offer. In this scenario, Magnira Corp. has adopted a _____.

market orientation

Equality, one of America's core values, is a value that means

no one should expect to be treated differently from anybody else.

All of the following are reasons for failing to achieve a marketing objective except:

objectives were too specific.

_____ delivers relevant experiences throughout a consumer's decision and buying process that are integrated across both physical and virtual environments.

on-demand marketing

The _____ classifies each strategic business unit (SBU) by its present or forecast growth and market share.

portfolio matrix

In the context of the marketing mix, _____ is often the most flexible of the four Ps—the quickest element to change.

price

In the context of global marketing, _____ can be taken to mean either creating a new product for a market or drastically changing an existing product.

product invention

The pyramid of corporate social responsibility

states that a business is expected to do what is right in addition to making profits.

Large companies may manage a number of very different businesses called _____.

strategic business units

In the context of modes of social control, _____ play(s) a key role in informing the public about the actions of individuals and organizations.

the media

The _____ is founded on the ability to predict the consequences of an action.

utilitarian ethical theory

Which of the following statements is a difference between a buyer for export and an export broker?

A buyer for export sells internationally for its own account, while an export broker brings the buyer and seller together.

Which of the following is true of an international joint venture?

It enables a local firm to acquire managerial skills and new technology.

Which of the following statements is true of a strategic business unit (SBU)?

It has control over its resources.

Which of the following is true of an organization's code of ethics?

It helps employees identify what their firm recognizes as acceptable business practices.

In the context of the marketing mix, which of the following statements is true of promotion?

It includes advertising, public relations, and personal selling.

Which of the following statements is true of having a global vision?

It involves being aware of threats from foreign competitors in all markets.

Which of the following statements is true of corporate social responsibility (CSR)?

It is demonstrated by companies that consider their relationship to the society in which they operate.

Which of the following statements is true of a competitive advantage based on product/service differentiation?

It is relatively longer lasting than cost competitive advantages.

Which of the following statements is correct about a niche strategy?

It is suitable for small companies with limited resources.

Which of the following is true of green marketing?

It is the development and marketing of products designed to improve the environment.

Which of the following statements is true of a market opportunity analysis?

It is used to identify the market segments a company needs to focus on.

A retail store in Lumberne launches an e-commerce site to promote its business all over the world. The site is accessible in different languages. In this case, which of the following is true?

It may be restrained by the old brick-and-mortar rules, regulations, and habits.

Which of the following is true of the World Bank?

It offers low-interest loans to developing nations.

Which of the following statements is true of a company in the first stage of global business development?

It operates in its home country and sells its products in another country.

According to traditional economic theory, which of the following statements is true of globalization?

It relies on competition to drive down prices and to increase product and service quality.

_____ is the legal process whereby a firm allows another firm to use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge.

Licensing

In the context of distribution, which of the following statements is true of American companies importing goods from overseas facilities to the United States?

Logistics has been a growing challenge for U.S. companies seeking to cut costs by shifting more production to countries where manufacturing is cheaper.

In the context of a sales orientation, which of the following statements is true of marketing

Marketing is concerned with selling things and collecting money.

Which of the following statements is true of the role of marketing in a society?

Marketing makes food available in desired quantities at accessible locations.

Which of the following statements is a difference between preconventional morality and conventional morality?

Preconventional morality is based on what will be immediately punished or rewarded, while conventional morality is based on whether a proposed action is legal.

Which of the following statements is a difference between preconventional morality and postconventional morality?

Preconventional morality represents the most basic level of morality, while postconventional morality is the morality of a mature adult.

Who among the following is most likely to recognize unethical actions?

Richard, who has noticed for the first time that a colleague has entered wrong financial data into the company balance sheet

Opula Inc. is a company that designs jewelry. It needs secondary data to know its customers' preferred jewelry patterns. In this scenario, which of the following secondary data can Opula Inc. obtain from within the firm? a. Social media posts entered by Opula's customers on its trending jewelry designs b. Summaries of income data of all jewelry businesses compiled by the state and federal agencies c. Data published by trade associations dealing with the recent jewelry market strategies d. Articles published in reputed business magazines about Opula's profit margins

a. Social media posts entered by Opula's customers on its trending jewelry designs

In which of the following cases is the elasticity of demand expected to be high? a. Substitutes are available. b. A product price is significantly low relative to purchasing power. c. Products are not durable. d. The product has only one use.

a. Substitutes are available.

Which of the following provides an accurate contrast of product life cycle lengths? a. The PLC for a product form is usually longer than the PLC for any one brand. b. The PLC for a product category is usually shorter than the PLC for any one product form. c. The PLC for a product form is usually equal to the PLC for the corresponding product category. d. The PLC for a product category is usually shorter than the PLC for any one brand.

a. The PLC for a product form is usually longer than the PLC for any one brand.

Which of the following is true of social media when used for marketing? a. The ability to share experiences quickly amplifies the impact of word of mouth in ways that can affect a company's bottom line. b. Social media lack the element of participation or relationship building with customers. c. Evaluation of interaction between marketers and consumers in social media is less reliable compared to traditional marketing methods. d. Marketers have great control over the content on social media sites.

a. The ability to share experiences quickly amplifies the impact of word of mouth in ways that can affect a company's bottom line.

Which of the following best defines markup pricing? a. The cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for b. The practice of marking up prices by 100 percent, or doubling the cost c. A method of determining what sales volume must be reached before total revenue equals total costs d. The ability to change prices very quickly, often in real time

a. The cost of buying the product from the producer, plus amounts for profit and for expenses not otherwise accounted for

A mobile telephone manufacturer markets a limited edition cell phone model with 126 different functions. The campaign failed across all 50 states in the United States. Which of the following is the most likely reason? a. The mobile simply wouldn't offer any discernible benefit compared to existing products. b. There was a good match between product and customer desires to have a simple phone. c. The market size was overestimated and thus the manufacturer overproduced. d. The price was little high and the initial distribution covered a small geographical area.

a. The mobile simply wouldn't offer any discernible benefit compared to existing products.

Which of the following defines revenue? a. The price charged to customers multiplied by the number of units sold b. Net profit after taxes divided by total assets c. Profit minus expenses d. Something that is given up in an exchange to acquire a good or service

a. The price charged to customers multiplied by the number of units sold

A source suggested to Rubbermaid the idea of the Sidekick, a litter-free lunch box. Rubbermaid could place some of its plastic containers inside a lunch box and sell the box as an alternative to plastic wrap and paper bags. The source saw this opportunity because of being closer to the consumers than the manufacturer was and, thus, more aware of customer needs. Which of the following was likely the source? a. The product's distributor b. The product's competitor c. Customers d. A company employee

a. The product's distributor

The assertion, "price is that which is given up to get a good or service" indicates which of the following effects of price? a. The sacrifice effect of price b. The information effect of price c. The perceived satisfaction effect of price d. The quality effect of price

a. The sacrifice effect of price

Which of the following statements is an advantage of personal selling? a. The sales message can be varied according to the interests of each prospective customer. b. Cost per contact is much lesser than for mass forms of communication. c. Continual sales force management and training are unnecessary. d. It provides a brief and less time-consuming explanation about a product.

a. The sales message can be varied according to the interests of each prospective customer.

. Which of the following best defines brand equity? a. The value of a company or brand name b. The elements of a brand that cannot be spoken c. A name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products d. That part of a brand that can be spoken, including letters, words, and numbers

a. The value of a company or brand name

Identify an accurate statement about mobile marketing. a. There are more consumers than ever acclimating to once-worrisome privacy and pricing policies. b. The effectiveness of mobile marketing reduces when combined with geo-location platforms. c. An effort to standardize mobile platforms has resulted in a high barrier to entry. d. Mobile marketing is not measurable; therefore, it gives limited insight into consumer behavior.

a. There are more consumers than ever acclimating to once-worrisome privacy and pricing policies.

Which of the following describes the late majority? a. They adopt a new product because most of their friends have already adopted it. b. They do not rely on group norms and their adoption is free from pressure to conform. c. They tend to be younger and above average in income as well as education. d. They depend mainly on mass media rather than on word-of-mouth communication.

a. They adopt a new product because most of their friends have already adopted it.

In the context of advertising media, which of the following statements is true of infomercials? a. They are the ideal way to present complicated messages to potential customers. b. They are suitable for magazine advertising. c. They are short and less than 10 minutes. d. They are more expensive to produce and air than commercial spots.

a. They are the ideal way to present complicated messages to potential customers.

Which of the following is true of firms practicing environmental and social sustainability? a. They can generate cost savings and enact sustainable business practices. b. They practice sustainability to maintain good public relations. c. They practice sustainability only when business leaders act altruistically. d. Their supply chain costs increase disproportionately.

a. They can generate cost savings and enact sustainable business practices.

Which is a characteristic of fads? a. They can move through the entire cycle in weeks. b. They typically register a gradual and unpredictable spike in sales. c. They peak slowly but then register a rather abrupt decline. d. They stay in the maturity stage for decades.

a. They can move through the entire cycle in weeks.

In the context of factors that affect consumer decision making, which of the following statements is true of cultural values? a. They correspond to consumption patterns. b. They are static and do not experience change. c. They are inherent rather than learned or acquired. d. They are exerted only as conscious decisions.

a. They correspond to consumption patterns.

What do programs like Google X do to promote innovative thinking among its employees? a. They eliminate the fear of coming up with bad ideas by rewarding failure. b. They eliminate the possibility of investment in bad ideas by rewarding only successes. c. They promote the fear of coming up with bad ideas by punishing failure. d. They promote investment in bad ideas to explore the possibilities learned from them

a. They eliminate the fear of coming up with bad ideas by rewarding failure.

Which of the following statements is true of customer relationship management (CRM) companies? a. They leverage customer data and information. b. They analyze information about their competitors' customers. c. They understand the interactions with old customers. d. They help managers assess their competitors.

a. They leverage customer data and information.

Sarto Corp. follows the six stages involved in creating an effective social media plan to advertise the business solutions offered by the company. After launching the campaign, the marketing team at Sarto Corp. goes back to the first stage of the process. Which of the following is the most likely reason for going back to this stage? a. To interpret how customers are perceiving the campaign b. To ensure that the campaign is fluid c. To select the social media tools for the campaign d. To examine trends and best practices in the industry

a. To interpret how customers are perceiving the campaign

Which of the following is an objective of focus group interviews? a. To stimulate insightful comments through group interaction b. To directly involve customers in test marketing c. To reject ideas that are obviously inappropriate for some reason d. To eliminate ideas that are inconsistent with an organization's new-product strategy

a. To stimulate insightful comments through group interaction

Which of the following statements is true of consumer decision making? a. Underlying cultural, social, individual, and psychological factors strongly influence the decision process. b. Consumer decision making occurs independent of any external factor. c. Consumers use routine response behavior for buying high-involvement products. d. Cultural, social, individual, and psychological factors do not influence the postpurchase behavior.

a. Underlying cultural, social, individual, and psychological factors strongly influence the decision process.

_______________ represent a series of thick and thin vertical linesreadable by computerized optical scanners that represent numbers used to track products. a. Universal product codes b. Product lines c. Brand labels d. Informational labels

a. Universal product codes

According to the gap model of service quality, the gap between what customers want and what management thinks customers want results from a. a lack of understanding or a misrepresentation of the customers' needs, wants, or desires. b. management's inability to translate customers' needs into delivery systems within the firm. c. the inability of management and employees to do what should be done. d. misleading or deceptive advertising campaigns promising more than the firm can deliver.

a. a lack of understanding or a misrepresentation of the customers' needs, wants, or desires.

Chelsea runs a stock market consultancy firm. The firm advises its clients on where to invest and how to earn maximum profits. Given this information, Chelsea provides _____ through the consultancy firm. a. a service b. concepts c. branding d. profits

a. a service

At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Cloyd's Inc. is 300 units, which is the number of bikes they manufacture every year. If the marketing managers at Cloyd's Inc. decide to sell each bike at a price lower than $2,000 per unit, _____. a. a shortage of bikes will be created b. the number of bikes produced will increase drastically c. an inelastic demand for the bikes will be created d. the demand for and the supply of the bikes will attain equilibrium

a. a shortage of bikes will be created

The _____ is a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns. a. advertising response function b. advertising campaign c. advertising objective d. advertising appeal

a. advertising response function

In regards to the sales force structure, organizing by market or industry can: (Check all that apply) a. allow salespeople to become experts in their fields. b. increase transactional, rather than relationship, selling. c. can improve customer service. d. encourage collaboration with other departments in the company.

a. allow salespeople to become experts in their fields. c. can improve customer service. d. encourage collaboration with other departments in the company.

Inelastic demand is a situation in which a. an increase or a decrease in price does not significantly affect the demand for a product. b. prices are adjusted over time to maximize a company's revenues. c. demand is created for new products by aggressive brand awareness campaigns. d. a pricing objective maintains existing prices or meets the competition's prices.

a. an increase or a decrease in price does not significantly affect the demand for a product.

The term _____ refers to a series of stages determined by a combination of age, marital status, and the presence or absence of children. a. family life cycle b. perceptual mapping c. lifestyle d. ethnic segmentation

a. family life cycle

At the _____ level of relationship marketing, a firm uses pricing incentives to encourage customers to continue doing business with it. a. financial b. customization c. structural d. social

a. financial

Marketers at North Face have listed their segmentation descriptors as market size, density, and climate. They are likely segmenting the market: a. geographically. b. by benefit. c. psychographically. d. demographically.

a. geographically.

In the context of consumer involvement, limited decision making typically occurs when a consumer a. has previous product experience but is unfamiliar with the current brands available. b. expends high effort in searching for information or in considering various alternatives. c. buys an unfamiliar, expensive product or an infrequently bought item. d. buys a brand first and evaluates its quality later.

a. has previous product experience but is unfamiliar with the current brands available.

Henry, a travel consultant, treats his customers with respect and helps them with the vast knowledge that has earned him a good reputation. However, he is not as skilled in giving individual attention to customers or in anticipating and understanding their priorities. Henry scores ______. a. high on assurance but low on empathy b. low on both assurance and empathy c. high on both assurance and empathy d. low on assurance but high on empathy

a. high on assurance but low on empathy

In the context of the AIDA (attention, interest, desire, and action) model, a marketing message can arouse the desire of consumers by a. illustrating how the product will satisfy their needs. b. motivating them to make a purchase. c. creating interest in the product. d. gaining their attention.

a. illustrating how the product will satisfy their needs.

An unwritten guarantee that the good or service is fit for the purpose for which it was sold is called a(n) ______________. a. implied warranty b. express warranty c. oral warranty d. committed warranty

a. implied warranty

Marketing research helps managers by a. improving the quality of decision making. b. focusing on the quantity instead of the quality of products. c. ensuring that secondary data does not influence their decisions. d. providing a single solution to all problems.

a. improving the quality of decision making.

Marketers affect consumers' motivation to learn about, shop for, and buy a certain brand by a. influencing the degree to which consumers perceive a good or service to be self-relevant. b. using standardized marketing techniques across different segments of consumers. c. encouraging the practice of showrooming. d. reducing consumer involvement while shopping for products.

a. influencing the degree to which consumers perceive a good or service to be self-relevant.

Zen Electronics has taken a penetration pricing approach to launch its new line of mobiles. Therefore, Zen is most likely to ______. a. initially charge a relatively low price per product b. introduce the line at a relatively high price per product c. wait until the current competition weakens d. join the competition at its peak

a. initially charge a relatively low price per product

In a(n) _____ information search, a person recalls information stored in the memory. a. internal b. marketing-controlled c. nonmarketing-controlled d. external

a. internal

According to Charlene Li and Josh Bernoff of Forrester Research, _____ are those who maintain a social networking profile and visit other sites. a. joiners b. collectors c. inactives d. spectators

a. joiners

In the 1950s, Kellyn Derma, a skin care company, produced only one type of lotion targeting the entire skin care market. Today, it produces different types of creams and lotions to suit different age groups and different skin types. In this scenario, Kellyn Derma is using the strategy of _____. a. market segmentation b. market cannibalization c. cause-related marketing d. green marketing

a. market segmentation

The process of dividing a market into meaningful, relatively similar, and identifiable groups is called _____. a. market segmentation b. market positioning c. fractional attribution d. horizontal diversification

a. market segmentation

A company's product sales as a percentage of total sales for that industry are known as __________. a. market share b. revenue c. return on investment d. profit

a. market share

A vehicle manufacturer makes base models using a large-scale production process. It also partners with small companies that help customize its vehicles, thus offering a wide range of packages involving a variety of chassis colors, upholstery designs, music systems, GPS devices, and passenger safety options. The company's approach to its service offering is an example of ______. a. mass customization b. mass standardization c. customization d. standardization

a. mass customization

In the context of the strategies for selecting target markets, a firm that chooses to serve two or more well-defined market segments and develops a distinct marketing mix for each has a(n) _____. a. multisegment targeting strategy b. undifferentiated targeting strategy c. universal targeting strategy d. concentrated targeting strategy

a. multisegment targeting strategy

The food inspection department assigns Anderson, a researcher, the task to inspect the food and service quality at leading restaurants in the town. Every week, he visits a restaurant and pays very close attention to the quality of the food, service, and the cleanliness of the cutlery used. The restaurant staff members are unaware that he has been hired to report his experiences at the restaurant to the food inspection department. In this scenario, Anderson is a _____. a. mystery shopper b. cause-related marketer c. pollster d. competitive intelligence gatherer

a. mystery shopper

Martin and Marla are working parents. They intend to buy a new car for their family. In this case, their choice of car will be influenced by the a. number of children in their family. b. distance between their house and their offices. c. look of the car. d. size of their house.

a. number of children in their family.

Social media differ from traditional marketing media in that social media _____. a. offer more one-to-one ways to meet consumers than traditional marketing media b. lack the element of participation or relationship building with customers c. enable marketers to control the content on social media sites d. are less effective than traditional media in measuring how marketers meet and interact with consumers

a. offer more one-to-one ways to meet consumers than traditional marketing media

Adequate distribution for a new product can often be attained by a. offering a larger-than-usual profit margin to distributors. b. having different model or serial numbers for products. c. allowing customers to get involved in showrooming. d. increasing the prices of the products.

a. offering a larger-than-usual profit margin to distributors.

Number of comments, ratings, social bookmarks, subscriptions, page views, uploads, downloads, embeds, retweets, Facebook posts, pins, and time spent with social media platform indicate __________. a. participation and engagement b. influence c. buzz d. interest

a. participation and engagement

Senior citizen and student discounts at movie theaters and restaurants are examples of pricing that is ______. a. patronage-oriented, not operations-oriented b. operations-oriented, not revenue-oriented c. both revenue-oriented and patronage-oriented d. both operations-oriented and patronage-oriented

a. patronage-oriented, not operations-oriented

Stanley likes using fountain pens. When he came across a new series of fountain pens manufactured by Dilloit Pens, he eagerly bought one. The pen's appealing exterior combined with the long-established reputation of Dilloit Pens made Stanley assume that the fountain pen would be of high quality. To his disappointment, the pen smudged and bled despite using high-quality ink. In this case, Stanley purchased the pen based on _____. a. perceived value b. actual value c. consumer set d. evoked set

a. perceived value

Gypsy Foods Inc. is a multinational food and beverage company. Its product labels are colorful and project the words "new" and "improved" along with the product's name. The packages do not provide many details about the product's ingredients. In this case, Gypsy Foods is using _____. a. persuasive labeling b. informational labeling c. descriptive labeling d. grade labeling

a. persuasive labeling

When Lofonift Inc. introduced its flagship MP3 player, it captured the market by offering the product at a very low price. This gradually forced many of its competitors out of business. Once its competitors were out of business, Lofonift Inc. raised the price. In this scenario, Lofonift Inc. most likely indulged in _____. a. predatory pricing b. price discrimination c. status quo pricing d. price fixing

a. predatory pricing

Among the following, that which is given up in an exchange to acquire a good or service is known as ______. a. price b. cost c. margin d. profit

a. price

Marketing two or more products in a single package for a special price is called _____________. a. price bundling b. bait pricing c. odd-even pricing d. loss-leader pricing

a. price bundling

Consumers are more likely to perceive the value of a product to be less than its price tag says if the product's a. price is set too high in their minds. b. manufacturer gains very little profit from the product. c. demand is inelastic. d. demand and supply attain the state of price equilibrium

a. price is set too high in their minds.

Because it denotes a high price relative to the prices of competing products, ______ is sometimes called a "marketplus" approach to pricing. a. price skimming b. price fixing c. status quo pricing d. bait-and-switch pricing

a. price skimming

________ promotes the benefits of a specific good or service. a. product advertising b. institutional advertising c. comparative advertising d. competitive advertising

a. product advertising

A marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products is called ______. a. product development b. niche marketing c. idea screening d. commercialization

a. product development

Irwin, a life insurance agent, strictly follows the sales cycle to sell life insurance policies to prospective buyers. After identifying the people who are most likely to buy life insurance, he proceeds to determine if they need insurance. He also checks if these people are willing to see him and are accessible. In this scenario, Irwin is a. qualifying sales leads. b. handling objections. c. developing and proposing solutions. d. generating sales leads.

a. qualifying sales leads.

A consultancy firm that provides a wide range of services relating to tax payments and tax law is known for performing these services dependably, accurately, and consistently. This clearly implies that the company rates high on ______. a. reliability b. responsiveness c. assurance d. empathy

a. reliability

Luis, a supply manager at Benson Corp., calls a sales representative at OffPro Distributors to place an order for 50 reams of copy paper for official purposes. OffPro Distributors purchases the required goods from Ranson Inc. and delivers the goods to Luis the next day. In this scenario, OffPro Distributors is an example of a(n) _____. a. reseller b. institution c. producer d. manufacturer

a. reseller

A reasonable level of profits consistent with the level of risk an organization faces is called ____________. a. satisfactory profit b. return on investment c. highest level of profit d. marginal revenue

a. satisfactory profit

In the context of purchasing profiles, _____ contact familiar suppliers and place the order with the first one to satisfy product and delivery requirements. a. satisficers b. optimizers c. augmenters d. maximizers

a. satisficers

With the introduction of the internet, many people thought that all B-to-B shopping would be completed online and the need for distributors would be eliminated. However, distributors perform important functions for business customers including all of the following except: a. selling items at wholesale costs. b. providing information and advice. c. processing returns. d. providing credit and delivery for purchases.

a. selling items at wholesale costs.

A(n) _________________ is a product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. a. shopping product b. specialty product c. unsought product d. sought product

a. shopping product

Paulette goes to an appliance store to purchase a refrigerator. After comparing the technical features, prices, and durability of the various brands of refrigerators available, she purchases the cheapest and smallest in size. In this case, Paulette has purchased a _____. a. shopping product b. business product c. specialty product d. convenience product

a. shopping product

Which of the following is not a characteristic of a market? a. similar characteristics b. ability c. people or organizations d. willingness to buy

a. similar characteristics

Advertising and other promotional materials for a variety of products, including the test product, are shown to members of the product's target market. These people are then taken to shop at a mock or real store, where their purchases are recorded. This is part of the process involved in ______. a. simulated (laboratory) market testing b. scanner-based research c. simultaneous product development d. customer relationship management

a. simulated (laboratory) market testing

The 99-Center is a retail store where all the merchandise is priced at 99 cents. This retailer uses a _____. a. single-price tactic b. flexible pricing tactic c. price lining tactic d. price bundling tactic

a. single-price tactic

Serendipity, a casual dining restaurant in New York, employs disabled people as part of its staff. Besides this, it uses utensils made from recyclable paper. Serendipity engages in such activities to reduce operational costs and to protect the environment. This scenario is an example of a. sustainable supply chain management. b. mass customization. c. the demand management process. d. the customer service management process.

a. sustainable supply chain management.

Profit-oriented pricing objectives include _____. a. target return on investment b. target market share c. meeting competitors' prices d. status quo pricing

a. target return on investment

In the context of market segmentation, _____ segmentation divides a market by the amount of product bought or consumed. a. usage-rate b. benefit c. geographic d. family life cycle

a. usage-rate

Rent and Drive is a car rental company. It prices its rentals based on operations-oriented pricing. In this scenario, Rent and Drive a. varies the prices according to the supply and demand of cars. b. maximizes the surplus of income over its costs. c. allows customers to negotiate price. d. varies prices for customers from different market segments.

a. varies the prices according to the supply and demand of cars.

In the context of marketing research, the research design specifies a. which research questions must be answered. b. which tools will be deployed to implement the research results. c. how the funding for a research process should be attained. d. the list of government agencies to be approached to seek approval.

a. which research questions must be answered.

Slightly altering a basic product to meet the local conditions in a foreign market is called product _____.

adaptation

Carefully stated objectives serve all of the following functions except:

allow managers to set ambiguous goals with room for adjustment.

African Americans in the United States

are more likely to patronize convenience, drug, and dollar stores than other groups.

A production orientation philosophy focuses on

assessing the resources of a firm.

Some manufacturers are developing costly buffer stocks in order to

avoid shutting down production lines and failing to make timely deliveries.

Which of the following scenarios illustrates a marketer acting as a receiver? a. A product developer conducts a survey among social media users before developing a new software application for them. b. A salesperson listening as a customer explains the problems encountered with a recent purchase. c. A public relations officer sends out a press release about his company's new line of microprocessors. d. A customer service representative sends an e-mail to a client informing him about the scheduled delivery time of his purchased items.

b. A salesperson listening as a customer explains the problems encountered with a recent purchase.

_____ is the managerial process of creating and maintaining a fit between an organization's objectives and resources and the evolving market opportunities.

Strategic planning

Which of the following strategies should a company adopt to stimulate innovation?

Talking to early adopters

Which of the following statements refers to the target market strategy?

Target markets can be selected by appealing to the entire market with one marketing mix.

A house cleaning company, Speedy Clean, has identified three possible market segments for their services. To evaluate if the segments will be successful, Speedy Clean should determine if each segment is: (Check all that apply) a. identifiable and measurable. b. accessible. c. perceptive. d. responsive.

a,b,d

NAICS is a valuable tool because: (Check all that apply) a. it can help business marketers tailor their messages to similar target markets. b. information from the codes can help project market potential estimates. c. companies within the same classification group likely use different types of raw materials and production processes. d. the codes can help firms identify potential users of their products and services.

a,b,d

___________ is a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products. a. A brand b. Positioning c. A global brand d. Brand equity

a. A brand

Which of the following statements is true of convenience products? a. A consumer is unwilling to shop extensively for convenience products. b. These are products that are perceived to have similar features. c. A consumer is unwilling to accept other substitutes for convenience products. d. These are products that are not actively sought after by consumers.

a. A consumer is unwilling to shop extensively for convenience products.

Which of the following is an example of a promotion? (Check all that apply) a. A coupon for $1.00 off Crest's new teeth whitening strips. b. A commercial that illustrates how consumers can use Amazon's Echo Dot. c. Oreo creates a new seasonal flavor for its sandwich cookies. d. Nike's plan to open a new retail store in Chicago.

a. A coupon for $1.00 off Crest's new teeth whitening strips. b. A commercial that illustrates how consumers can use Amazon's Echo Dot.

________________ identifies a product by class or type and cannot be trademarked. a. A generic product name b. A brand name c. A service brand d. Family branding

a. A generic product name

Which statement indicates a key advantage of carrying private brands? a. A manufacturer can decide to drop a brand or a reseller at any time or even become a direct competitor to its dealers. b. Many manufacturers offer rapid delivery, enabling the dealer to carry less inventory. c. If a dealer happens to sell a manufacturer's brand of poor quality, the customer may simply switch brands and remain loyal to the dealer. d. Heavy advertising to the consumer by manufacturers helps develop strong consumer loyalties.

a. A manufacturer can decide to drop a brand or a reseller at any time or even become a direct competitor to its dealers.

Comparably speaking, which of the following would have the highest observability in terms of its rate of acceptance and diffusion? a. A new line of trousers b. A musical instrument c. A medicinal tea d. A social media app

a. A new line of trousers

Identify which statement about global branding strategies is true. a. A one-brand-name strategy is useful when a company markets mainly one product. b. Using different brand names in different markets leads to greater brand identification of the product from market to market. c. A one-brand-name strategy makes coordinating promotion from market to market more difficult. d. Using different brand names in different markets means that a company is not an example of localization.

a. A one-brand-name strategy is useful when a company markets mainly one product.

Which strategy for handling a brand name is useful when a company plans to enter a foreign market with mainly one product and the brand name doesn't have negative connotations in any local markets? a. A one-brand-name-everywhere strategy b. An adaptation and modification strategy c. A strategy using different brand names in different markets d. All of these are appropriate.

a. A one-brand-name-everywhere strategy

When recruiting a sales force, which of the following traits should sales managers look for in applicants? a. A sense of urgency and competitiveness b. A transaction-oriented sales style c. Being relationship oriented d. An overbearing attitude

a. A sense of urgency and competitiveness

Which of the following strategies of handling a brand name when marketing globally is appropriate when the name cannot be pronounced in the local language or when the brand name is owned by someone else? a. Adaptations and modifications b. Transactional marketing strategy c. One-brand-name everywhere d. Transformational marketing strategy

a. Adaptations and modifications

_____ is typically used to safeguard against negative consumer attitudes and enhance a company's credibility among consumers who already favor its position. a. Advocacy advertising b. Pioneering advertising c. Competitive advertising d. Comparative advertising

a. Advocacy advertising

When a purchase decision involves uncertainty, which of the following statements best describes the price-quality relationship? a. Consumers perceive lower-priced goods to be more long-lasting than higher-priced goods. b. Consumers believe that higher-priced goods are manufactured with materials or ingredients of better quality. c. Consumers lack information about the quality of lower-priced goods due to poor advertising. d. Consumer demand for higher priced goods remains unchanged even if product quality declines

b. Consumers believe that higher-priced goods are manufactured with materials or ingredients of better quality.

_____ occurs when two brands receiving equal treatment (in the context of an advertisement) borrow from each other's brand equity. a. Ingredient branding b. Cooperative branding c. Complementary branding d. Family branding

b. Cooperative branding

Which of the following is the final stage in the product life cycle? a. Maturity stage b. Decline stage c. Growth stage d. Introductory stage

b. Decline stage

The managers at Click-to-Door, an e-commerce website, closely monitor its rival online retailers to analyze how consumers respond to changes in the prices of certain products. They use the results of this analysis to constantly change the prices on their website to maximize sales and profits. In this case, which of the following pricing strategies does Click-to-Door follow? a. Comparative pricing b. Dynamic pricing c. Capacitive pricing d. Dependent pricing

b. Dynamic pricing

Which of the following statements is a difference between encoding and decoding? a. Encoding is usually exposed to misinterpretation, whereas decoding is free from any misinterpretation. b. Encoding is the conversion of ideas by words and signs, whereas decoding is the interpretation of language and symbols. c. Encoding is done by the receivers of a message, whereas decoding is done by the senders of a message. d. Encoding is a process of mass communication, whereas decoding is a process of interpersonal communication.

b. Encoding is the conversion of ideas by words and signs, whereas decoding is the interpretation of language and symbols.

Which of the following is the first step in the four-step process of setting the right price of a product? a. Estimate demand, costs, and profits. b. Establish pricing goals. c. Choose a price strategy to help determine a base price. d. Fine-tune the base price with pricing tactics

b. Establish pricing goals.

A price tactic that requires the buyer to absorb the freight costs from the shipping point is called ______________. a. value-based pricing b. FOB origin pricing c. uniform delivered pricing d. zone pricing

b. FOB origin pricing

Which of the following represents the final step in setting the right price of a product? a. Choose a price strategy to help determine a base price. b. Fine-tune the base price with pricing tactics. c. Establish pricing goals. d. Estimate demand, costs, and profits

b. Fine-tune the base price with pricing tactics.

According to the North American Industry Classification System (NAICS), which of the following goods- or service-producing firms are grouped together? a. Firms that use identical marketing strategies b. Firms that use identical production processes c. Firms that are located in identical geographical locations d. Firms that share identical capital investment

b. Firms that use identical production processes

Which of the following is true of the growth phase of the product life cycle? a. Marketers provide in-depth information about products. b. Firms use competitive or brand advertising. c. Marketers create primary demand for a new product. d. Pioneering advertisement is appropriate.

b. Firms use competitive or brand advertising.

Aaron and Jane, a married couple, plan to buy a car. Aaron chooses a car that has a sporty look. Jane, on the other hand, chooses a car that is beautiful and elegant. In this scenario, which of the following plays a role in influencing Aaron and Jane's purchase decisions? a. Age b. Gender c. Economic influences d. Family life cycle

b. Gender

Which statement describes a distribution strategy of a service organization? a. The intensity of distribution should exceed the target market's needs and preferences. b. Having too many outlets to distribute products may boost costs unnecessarily. c. The location of a service does not influence the distribution strategy of a time-dependent service provider. d. Because services are intangible, many service firms choose indirect distribution strategies.

b. Having too many outlets to distribute products may boost costs unnecessarily.

Which of the following statements is true of business markets? a. In business markets, products are sold for the purpose of personal consumption. b. In business markets, a single customer can account for a huge volume of purchases. c. The key characteristic distinguishing business products from consumer products is physical form. d. Business markets are typically smaller than consumer markets in most countries.

b. In business markets, a single customer can account for a huge volume of purchases.

When thinking about the characteristics of a market, willingness to buy can by illustrated by which of the following? a. Alex is ready to use the $400 he earned mowing lawns all summer to purchase a GoPro camera from Best Buy. b. Most large copy machines are purchased by companies or institutions in the business market. c. Kristen was excited to learn that the new Hyundai Ionq she had been admiring was finally available for sale at dealerships. d. Griffin wants a pair of soccer cleats and recognizes that Nike makes a pair that will fit his needs.

a. Alex is ready to use the $400 he earned mowing lawns all summer to purchase a GoPro camera from Best Buy.

Which of the following statements is not true in regards to relationship selling? a. Although it adds value, relationship selling is usually more expensive than having to prospect for and sell to new customers. b. The salesperson and the customer work together to improve the customer's bottom line. c. The salesperson becomes a partner and problem solver for their customer, offering advice when needed. d. Relationship selling usually results in more loyal customers who purchase from the company time after time.

a. Although it adds value, relationship selling is usually more expensive than having to prospect for and sell to new customers.

Which of the following statements is true of the interaction between customers and an organization? a. Any touch point a customer has with the organization constitutes an interaction. b. Interactions do not happen when customers do not meet face-to-face with salespeople. c. With customer relationship management, the organization defines the terms of the interaction. d. Data gathered at touch points do not provide information that affects touch points inside a company.

a. Any touch point a customer has with the organization constitutes an interaction.

Which of the following happens if demand is elastic? a. As price goes up, consumer demand changes. b. The competition between organizations reduces. c. Products will not have any substitutes. d. The purchasing power of the consumer decreases.

a. As price goes up, consumer demand changes.

___________ is a price tactic that tries to get consumers into a store through false or misleading price advertising and then uses high-pressure selling to persuade consumers to buy more expensive merchandise. a. Bait pricing b. Price bundling c. Odd-even pricing d. Leader pricing

a. Bait pricing

Michael, a department store owner, wants to improve profits. In order to get customer insights for making better product mix decisions, he implements a unique personalization tool on the store's website that allows customers to share their preferences. In the given scenario, which of the following does Michael make use of? a. Big data analytics b. Cloud computing c. Retail channel omnification d. Microtargeting

a. Big data analytics

Which of the following is a similarity between a supermarket and a stock market? a. Both are composed of people who have the ability to buy the products they seek. b. Both deal in consumer durable products. c. Both are composed solely of business organizations. d. Both use a barter system to facilitate the exchange of products.

a. Both are composed of people who have the ability to buy the products they seek

Which statement best describes a similarity between price fixing and predatory pricing? a. Both are illegal under the Federal Trade Commission Act. b. Both are fine-tuning techniques that do not change the general price level. c. Both typically discourage and block competition from entering a market. d. Both may ignore demand or cost or both.

a. Both are illegal under the Federal Trade Commission Act.

Which of the following statements is true of direct channel distribution? a. Channels of distribution for business marketing are typically short. b. Business products pass through the producer, wholesaler, and retailer. c. Direct channels have decreased in their usefulness dramatically in the past decade. d. Direct channels of distribution are uncommon.

a. Channels of distribution for business marketing are typically short.

Which action would a firm take if following a status quo pricing policy? a. Charge a price identical to or very close to the competition's price. b. Discourage or block competition from entering a market. c. Enable management to recover its product development costs quickly. d. Expand production with the use of technological innovations and tools.

a. Charge a price identical to or very close to the competition's price.

Which of the following refers to placing two or more brand names on a product or its package? a. Co-branding b. Family branding c. A trademark d. A service mark

a. Co-branding

Bub Fizz Inc. manufactures chewing gum. Through marketing research, it was learned that most of its customers use the chewing gum as mouth freshener. Hence, it modified its formula to manufacture gums that have a long-lasting flavor. In this scenario, which of the following was responsible for the change in the product? a. Consumer behavior b. Cause-related marketing c. Promotion strategy d. Green marketing

a. Consumer behavior

Which of the following statements is true of individual characteristics of a person? a. Individual characteristics change drastically with a person's age due to the change in personality. b. Individual characteristics are generally stable over the course of people's lives. c. People are compelled to spend more money if they want to change their lifestyles. d. People are more willing to try different lifestyles instead of sticking to one.

b. Individual characteristics are generally stable over the course of people's lives.

Which of the following statements is true of a product's positioning? a. It influences potential customers' overall perception of a brand. b. It refers to the market share of a company. c. It is ignored by consumer goods marketers. d. It is not influenced by the quality of competing products.

a. It influences potential customers' overall perception of a brand.

In the context of business marketing, which of the following statements is true of customer service? a. It involves evaluation of customer satisfaction and loyalty. b. It places higher priority on acquiring new customers over existing customers. c. It is limited to presale services offered to customers. d. It requires equal treatment to be given to all customers.

a. It involves evaluation of customer satisfaction and loyalty.

Which of the following statements describes a beacon? a. It is a device that sends out connecting signals to customers' smartphones and tablets to bring them into a retail store. b. It is an application used by retailers that allows customers to bring used products for donation at the store. c. It is a machine that offers goods for sale. d. It is a technological interface that allows customers to provide themselves with products without the help of an employee.

a. It is a device that sends out connecting signals to customers' smartphones and tablets to bring them into a retail store.

Which of the following statements is true of a bundled price? a. It is simpler for a firm to administer than pricing each element separately. b. It is preferable when consumers are willing to pay "extra" for every part of the service. c. It is a pricing strategy where customers pay only for the service elements they use. d. It is a pricing strategy that does not apply to services.

a. It is simpler for a firm to administer than pricing each element separately.

Which of the following statements is true of prospecting? a. It is the identification of those firms and people most likely to buy a seller's offerings. b. It is a process that describes the ''homework'' that must be done by a salesperson before he or she contacts a prospect. c. It is the determination of a customer's specific needs and wants and the range of options the customer has for satisfying them. d. It is the process in which the salesperson ensures that the delivery schedules are met

a. It is the identification of those firms and people most likely to buy a seller's offerings.

Which of the following statements is true of the North American Industry Classification System (NAICS)? a. The more the digits in a NAICS code, the less homogeneous a group will be. b. Information collected through NAICS can be converted to sales forecasts. c. Each classification group in NAICS is heterogeneous in terms of the components used. d. The geographic dispersion of firms cannot be identified with the help of NAICS.

b. Information collected through NAICS can be converted to sales forecasts.

Which of the following is a disadvantage of the AIDA (attention, interest, desire, and action) concept? a. It assumes that firms can sell products without creating awareness about them. b. It does not explain how all promotions influence purchase decisions. c. It does not take into account the cognitive element in the purchase-decision process. d. It does not suggest the most effective promotional strategy to marketers.

b. It does not explain how all promotions influence purchase decisions.

Which of the following statements is true of market segmentation? a. It allows marketers to use one marketing mix across all market segments. b. It helps marketers define customer needs and wants more precisely. c. It allows marketers to broadly define marketing objectives that apply to the entire market. d. It divides a market into submarkets of equal size and potential, which helps in the uniform allocation of resources.

b. It helps marketers define customer needs and wants more precisely.

In which way does the concept of product life cycle (PLC) help marketing managers? a. It tells managers the length of a product's life cycle. b. It helps marketers forecast future events and suggest appropriate strategies. c. It dictates the marketing strategy to be used for a product. d. It informs marketers about the duration of a product in the various stages of its life cycle.

b. It helps marketers forecast future events and suggest appropriate strategies.

Which of the following statements is true of customer relationship management (CRM)? a. In a CRM system, an organization defines the terms of interaction between customers and the organization. b. It involves developing relationships with customers through touch points and data mining. c. A CRM system follows a profit-centric approach. d. It was initially popularized as mass marketing.

b. It involves developing relationships with customers through touch points and data mining.

In the context of business relationships in Japan, which of the following best describes a keiretsu? a. It is a legal consolidation of companies into a single entity. b. It is a network of interlocking corporate affiliates. c. It is a group of companies that do not have subsidiaries in foreign countries. d. It is a group of companies that only use natural resources as their primary source of energy.

b. It is a network of interlocking corporate affiliates

Which of the following statements is true of supply chain integration? a. It occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are linked to one another. b. It occurs through the sharing of customer demand forecasts and data during sales and operations planning. c. It is focused on creating inventory velocity and operational flexibility simultaneously in the supply chain. d. It is a system of management practices that are consistent with a ''systems thinking'' approach.

a. It occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are linked to one another.

Which of the following is true of a convenience store? a. It offers long hours and fast service in exchange for premium prices. b. It carries a deeper but narrower assortment of merchandise within a single category of interest. c. It competes on the basis of low prices, high turnover, and high volume. d. It carries an extensive line of high-turnover convenience goods.

a. It offers long hours and fast service in exchange for premium prices.

Which of the following statements is true of personal selling? a. It provides a detailed explanation or demonstration of the product. b. It is less effective than other forms of promotion. c. The cost per contact is much lesser than for mass forms of communication. d. It should only be directed toward unqualified products or services.

a. It provides a detailed explanation or demonstration of the product.

Which of the following statements is true of marketing research? a. It provides data on the effectiveness of the current marketing mix. b. It guarantees the availability of reliable data. c. It is the best marketing strategy to predict consumer behavior. d. It lacks the ability to provide decision makers with insights for any required changes.

a. It provides data on the effectiveness of the current marketing mix.

When considering the diffusion of innovation, which group is least motivated by advertising or personal selling? a. Laggards b. Innovators c. The late majority d. The early majority

a. Laggards

Which of the following best defines a push promotional strategy? a. Manufacturers may use aggressive personal selling to convince a wholesaler to carry and sell their merchandise. b. It focuses its promotional efforts on end consumers or opinion leaders. c. It uses social media and content marketing to invite customers to buy products. d. It stimulates consumer demand to obtain product distribution.

a. Manufacturers may use aggressive personal selling to convince a wholesaler to carry and sell their merchandise.

Which of the following statements is true of a product assortment? a. Many online retailers purposely focus on single product line niches that could never attract enough foot traffic to support a traditional physical store. b. Stores avoid modifying their product assortments to accommodate factors in the external environment. c. The depth of a product line refers to the collection of products offered. d. Developing a product assortment involves selling products to consumers at right prices to ensure sales.

a. Many online retailers purposely focus on single product line niches that could never attract enough foot traffic to support a traditional physical store.

_____ is the series of decisions advertisers make regarding the selection and use of media, enabling the marketer to optimally and cost-effectively communicate the message to the target audience. a. Media planning b. Media-resource analysis c. Advergaming d. Product placement

a. Media planning

Bookworm, a small retailer of books, offers old books to its customers at a discounted price. It has a huge collection of books in a small room. This gives the impression that the owners are giving away the books for free. In this scenario, which of the following factors has led to this perception of the store's atmosphere? a. Merchandise type and density b. Fixture type and density c. Employee density d. Visual factors

a. Merchandise type and density

_____ is a smartphone trend that uses small chips hidden in or behind products that, when touched by compatible devices, will transfer the information on the chip to the device. a. Near field communication b. Text mining c. 3D printing d. Screen mirroring

a. Near field communication

What pricing policy entails charging a relatively low price for a product when it is first rolled out as a way to reach the mass market? a. Penetration pricing b. Price skimming c. Price discrimination d. Status quo pricing

a. Penetration pricing

Which of the following correctly defines co-branding? a. Placing two or more brand names on a product or its package b. Marketing several different products under the same brand name c. A trademark for a service d. The exclusive right to use a brand or part of a brand

a. Placing two or more brand names on a product or its package

Which of the following describes a for-profit rather than a nonprofit? a. Prioritize market segments most likely to respond to their offerings. b. Target those who are apathetic about receiving their services. c. Complement, rather than compete with, the efforts of others. d. Adopt undifferentiated strategies by default.

a. Prioritize market segments most likely to respond to their offerings.

Which of the following refers to everything, both favorable and unfavorable, that a person receives in an exchange? a. Product b. Design c. Distribution d. Promotion

a. Product

_____ is a positioning strategy that some firms use to distinguish their offerings from those of competitors. a. Product differentiation b. Perceptual mapping c. Market segmentation d. Geographic segmentation

a. Product differentiation

Which of the following refers to a specific version of a product that can be designated as a distinct offering among an organization's products? a. Product item b. Unsought product c. Specialty product d. Consumer product

a. Product item

Which of the following refers to adding additional products to an existing product line to compete more broadly in the industry? a. Product line extension b. Product modification c. Repositioning d. Planned obsolescence

a. Product line extension

Which of the following refers to changing one or more of a product's characteristics? a. Product modification b. Repositioning c. Product line extension d. Planned obsolescence

a. Product modification

Which of the following is a characteristic of products produced by multinational corporations? a. Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible. b. A firm that starts with a local strategy is better able to develop global products. c. Products are inadequately distributed in local markets. d. Test marketing is not required for products developed by multinational firms

a. Products are developed for global distribution and then tweaked to meet unique market requirements whenever possible

Laelle Airlines, an international airline company offers a core service supported by supplementary services. Given this information, which of the following is most likely to be the core service provided by Laelle Airlines? a. Providing plush seats with comfortable legroom for its passengers b. Offering three-course meals for its passengers c. Providing personalized toiletries including wet towels and sleep masks for all passengers d. Offering souvenirs to all passengers after their travel

a. Providing plush seats with comfortable legroom for its passengers

Ortiz Inc., a nutritional drinks manufacturer, is perceived by many consumers as a producer of nutritional drinks meant only for children. In order to change this perception, Ortiz Inc. makes a few changes to its drinks and promotes them through television commercials featuring people of all age groups. This effectively changes people's opinion of Ortiz Inc.'s nutritional drinks, and the company's customer base increases. In this scenario, which of the following strategies does Ortiz Inc. use? a. Repositioning b. Licensing c. Perceptual mapping d. Geographic segmentation

a. Repositioning

Which of the following refers to subset of e-commerce that involves the interaction and user contribution aspects of social online media to assist online buying and selling of products and services? a. Social commerce b. Integrated marketing c. Social media d. Sales promotion

a. Social commerce

In the context of business customers, which of the following statements is true of institutional purchasers? a. They buy finished goods and resell them for a profit. b. They carry thousands of items in stock and employ sales forces to contact business customers. c. They buy business goods and incorporate them into products they produce. d. They seek to achieve goals other than the standard business goals of profit.

d. They seek to achieve goals other than the standard business goals of profit.

Which of the following is true of agile companies? a. They focus on resolving customer complaints rather than building customer relationships. b. They focus mainly on their internal capabilities while fulfilling orders. c. They often rely on their suppliers for managing supply chain operations. d. They synchronize their activities through the sharing of supply and demand market information.

d. They synchronize their activities through the sharing of supply and demand market information.

Which of the following statements is true of producers? a. They seek to achieve goals other than the standard business goals of profit. b. They account for the greatest volume of purchases of any business category. c. They buy business products and resell them to business customers. d. They use purchased goods and services to incorporate into other products.

d. They use purchased goods and services to incorporate into other products.

_____ is a form of electronic distribution that involves the creation of objects via an additive manufacturing technology that layers raw materials into desired shapes at or near the location of consumption. a. Lenticular printing b. Molding c. Tampography d. Three-dimensional printing

d. Three-dimensional printing

In the context of Internet usage by marketing researchers, which of the following is true of online focus groups? a. Participation rates decline as respondents pull out due to time conflicts. b. Certain groups, such as business travelers, are difficult to gather in a focus group. c. Respondents feel encouraged to talk more due to the lack of a moderator. d. Time is flexible online allowing respondents to be gathered from all over the world.

d. Time is flexible online allowing respondents to be gathered from all over the world.

Nozzle is a specially designed product that retro fits into your existing water faucet and atomizes the water stream in a spray that lets you use 98% less water when washing hands, brushing teeth, and washing produce or dishes. Some consider this a game changer for environmental protection, especially in regions of water scarcity. This product would be categorized as: a. a repositioned product. b. an addition to existing product lines. c. a revised product. d. a discontinuous innovation.

d. a discontinuous innovation.

Gears, a motorcycle manufacturer, assembles 20 motorcycles each day. As the motorcycles roll down the assembly line, power tools are used by factory workers to tighten bolts wherever necessary on the product. In this scenario, power tools are examples of _____. a. component parts b. raw materials c. major equipment d. accessory equipment

d. accessory equipment

A(n) _____ identifies the specific communication task that a campaign should accomplish for a specified target audience during a specified period. a. advertising appeal b. demonstration c. unique selling proposition d. advertising objective

d. advertising objective

In the context of the effects of advertising on consumers, serious or dramatic advertisements

d. are effective at changing consumers' negative attitudes.

A _____ is a publicly accessible web page that functions as an interactive journal, whereby readers can post comments on an author's entries. a. diary b. chat room c. record d. blog

d. blog

Based on target market characteristics, personal selling is sometimes required even when a. customers are brand loyal repeat purchasers. b. consumers are making a routine decision. c. the product is distributed using digital channels. d. buyers are well informed and geographically dispersed.

d. buyers are well informed and geographically dispersed.

In five years, Volkswagen sold only 57,000 of its Routan minivan. The company decided to stop producing the model and instead developed a new SUV, the Atlas. This illustrates that market segmentation: a. is not helpful in defining marketing objectives. b. can help predict sales performance. c. is not helpful in determining customer needs and wants. d. can help marketers better allocate resources.

d. can help marketers better allocate resources.

The final stage in the new-product development process is ______. a. business analysis b. development c. test marketing d. commercialization

d. commercialization

Finished items ready for assembly or items that need very little processing to become part of another product are called _____. a. processed materials b. raw materials c. supplies d. component parts

d. component parts

Ben, a working professional, buys a car to travel to work every day. In this case, the car is an example of a(n) _____. a. business product b. industrial product c. intermediate product d. consumer product

d. consumer product

In the context of marketing strategies, positioning assumes that a. there are only two positioning bases, price and quality. b. the quality of competing products does not influence product positioning. c. marketing costs of products are negligible because of mass production. d. consumers compare products on the basis of important features.

d. consumers compare products on the basis of important features.

Unlike in owned media, in earned media a. a brand generates its own content in social media. b. the word of mouth is spread face-to-face rather than online. c. a brand pays for the text-based or visual ads that are displayed in social media platforms. d. consumers pass along brand information in the form of retweets and blog comments

d. consumers pass along brand information in the form of retweets and blog comments

Mike, a university student, is conducting a research to compare the use of e-books with that of traditional printed books. For his research, he decides to approach few of his friends who are avid readers. In this scenario, the type of sample that Mike is planning to use is known as a _____. a. random sample b. stratified sample c. cluster sample d. convenience sample

d. convenience sample

Unlike omnichannel marketing, multichannel marketing a. unifies a firm's retail interfaces so that all customers receive equal and efficient service. b. creates greater customer control over the shopping experience. c. leads to greater satisfaction and loyalty by making a firm's inventory data available to customers in real-time. d. creates redundancy and complexity in a firm's distribution system.

d. creates redundancy and complexity in a firm's distribution system.

Megan is a customer care executive in a firm that manufactures laptops. She receives a complaint from a customer that the warranty of his laptop has been reduced from 2 years to 18 months. Megan immediately accesses the firm's customer care software to view the customer's product information, matches the complaint with the proper service dispatch center, and provides a quick and effective response to the customer. This scenario is an example of _____. a. customer relationship management b. product commercialization c. order fulfillment d. customer service management

d. customer service management

The _____ seeks to align supply and demand throughout the supply chain by anticipating customer requirements at each level and creating demand-related plans of action prior to actual purchases being made. a. order fulfillment process b. returns management process c. demand-supply integration process d. demand management process

d. demand management process

The retail industry in the United States: a. is weak, with most consumers cutting spending. b. is shrinking, due to offshoring. c. is small, accounting for only one fifth of the U.S. GDP. d. employs 42 million people.

d. employs 42 million people.

A consumer's information search should yield a group of brands, sometimes called the buyer's _____ set, which are the consumer's most preferred alternatives. a. equivalence b. union c. intersection d. evoked

d. evoked

Public relations' greatest impact is as a method of a. reminding customers about a company, good, or service. b. creating awareness of and interest in a product. c. motivating customers to take action and make a purchase. d. gaining attention for a company, good, or service.

d. gaining attention for a company, good, or service.

In the context of use of primary data in marketing research, when researchers piggyback studies, they are actually a. gathering observational data about a store through a mystery shopper. b. analyzing data previously collected for any purpose other than the one at hand. c. uncovering patterns and relationships using big data. d. gathering data on two different projects using one questionnaire.

d. gathering data on two different projects using one questionnaire.

Nestor Motors, an automobile manufacturing firm, manufactures muscle cars that are mostly preferred by men. The company wants to widen its customer base and conducts research about the preferences of women in cars. It launches a new line of sleek cars that are reliable for day-to-day commute. This new line of cars is targeted toward women. In this scenario, Nestor Motors is using _____. a. ethnic segmentation b. age segmentation c. income segmentation d. gender segmentation

d. gender segmentation

The category of business customers that accounts for the greatest volume of purchases in the in United States is: a. producers. b. resellers. c. institutions. d. governments.

d. governments.

. Yumé Nu, a battery manufacturing company, began marketing its products as environmentally friendly and biodegradable, even though this has not been scientifically verified. In this scenario, Yumé Nu has used _____ to sell its products. a. quality modification b. product line extension c. repositioning d. greenwashing

d. greenwashing

A group of people or organizations is considered a market only if the people or organizations a. have the ability to change purchasing behavior based on advertisements. b. lack needs that can be satisfied by particular product categories. c. can sustain solely on government funds and subsidiaries. d. have the willingness to exchange resources for desired products.

d. have the willingness to exchange resources for desired products.

Muscular Trends Inc., a fitness equipment manufacturing company, does not meet the targeted sales turnover for the financial year. Roger, the marketing manager of Muscular Trends Inc., decides to conduct marketing research to investigate the reason for the decrease in sales. In this scenario, through market research, Roger will most likely a. be able to exclude the external environmental factors that affect and influence consumer behavior. b. understand simple relationships of marketing variables, but not the detailed and complicated ones. c. ensure that secondary data do not influence his future marketing decisions. d. identify what has gone wrong in the previous sales strategies.

d. identify what has gone wrong in the previous sales strategies.

Your insurance agent provides you with a service that includes ______. a. both mental stimulus processing and information processing b. neither mental stimulus processing nor information processing c. mental stimulus processing, but not information processing d. information processing, but not mental stimulus processing

d. information processing, but not mental stimulus processing

Wildside Inc., a company that organizes wildlife tours, gives equal importance to customers and employees. The managers at Wildside Inc. ensure that the employees of the company are satisfied with their jobs. They believe that the employees should be kept happy as they are the brand ambassadors of the company. This scenario is an example of _____ marketing. a. external b. niche c. unsegmented d. internal

d. internal

Ralone Corp. manufactures printers. When it launched a new line of laser printers, it also introduced laser toners. None of the other laser toners in the market were compatible with its laser printers. So, as long as its laser printers are in demand, its laser toners will also be in demand. In this scenario, Ralone Corp.'s laser printers and laser toners are products that exhibit _____. a. elastic demand b. inelastic demand c. fluctuating demand d. joint demand

d. joint demand

Jason bought his first color television set after flat screen televisions were already widely diffused. He is most likely to be one among the ______. a. early adopters b. early majority c. late majority d. laggards

d. laggards

Single Grain's online content marketing successfully attracted customers such as Amazon and Uber. This illustrates the two most important goals for B-to-B content marketers: a. customer targeting and increasing usage of hashtags. b. increasing engagement and targeting the right audience. c. creating and distributing valuable and consistent content. d. lead generation and sales.

d. lead generation and sales.

A company that uses a psychographic market segmentation strategy will be most interested in the _____ of its potential customers. a. age b. gender c. marital status d. lifestyle

d. lifestyle

In the context of channel functions performed by intermediaries, _____ functions typically include transportation and storage of assets as well as their sorting, accumulation, consolidation, and/or allocation for the purpose of conforming to customer requirements. a. transactional b. financing c. facilitating d. logistical

d. logistical

An industrial product is bought for the purpose of a. satisfying an individual's personal wants or needs. b. being given as a gift to people. c. being consumed by family and friends. d. manufacturing other goods or services.

d. manufacturing other goods or services.

In the _____ of the product life cycle, persuasive and reminder advertising are emphasized more strongly as competition becomes fiercer. a. introduction stage b. decline stage c. growth stage d. maturity stage

d. maturity stage

Unlike goods, services are a. produced in a centralized location and consumed in decentralized locations. b. tangible performances. c. stored, warehoused, and inventoried. d. more heterogeneous and less standardized and uniform.

d. more heterogeneous and less standardized and uniform.

A _____ is referred to as the driving force that causes a person to take action to satisfy specific needs. a. belief b. norm c. value d. motive

d. motive

In the context of trends in supply chain management, _____ to locations such as Mexico or the Caribbean nations ensures low costs while reducing supply chain risk. a. offshoring b. contracting c. outsourcing d. nearshoring

d. nearshoring

In the context of customer relationship management (CRM), a company should identify its profitable and unprofitable customers because a. customer data cannot be stored and integrated throughout the company. b. information about all its customers cannot be obtained and maintained. c. all customers should receive the same type of information irrespective of their purchase patterns. d. not all customers are equally important for a business.

d. not all customers are equally important for a business.

Tech Solutions, a major information technology firm in Washington, has turned over its logistical functions of warehousing and transportation to GoFirst, a logistics company in Vietnam. This has been done to reduce costs as Vietnam has lower labor costs than Washington. According to this scenario, Tech Solutions is an example of a company that uses _____. a. nearshoring b. backsourcing c. insourcing d. offshoring

d. offshoring

The inability of services to be stored, warehoused, or inventoried is termed ______. a. variability b. reliability c. heterogeneity d. perishability

d. perishability

A purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other is called _____________. a. relationship selling b. sales promotion c. promotional selling d. personal selling

d. personal selling

Which of the following statements is true of cold calling? a. It refers to a process of determining potential clients from friends of customers. b. It is a process in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status. c. It refers to a recommendation from a customer or business associate. d. It is a process that describes the ''homework'' that must be done by a salesperson before he or she contacts a prospect.

b. It is a process in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status.

Ivan, a salesperson at a computer manufacturing firm, tries to persuade his customers to buy a particular computer by explaining its features and comparing it with the other models in the market. Moreover, he always maintains communication with customers who visit the firm. He does this to build long-lasting relationships with customers. In this scenario, Ivan is using _____. a. sales promotion b. content marketing c. e-mail marketing d. personal selling

d. personal selling

Franz Tress, a cosmetics manufacturing company, offers an annual subscription plan to its customers where the customers have the option to automatically renew the subscription plan once it completes its term. In this scenario, Franz Tress is trying to influence its consumers' decision journey through _____. a. the need recognition cycle b. brand renewal c. motivation d. the loyalty loop

d. the loyalty loop

The marketing manager of Raven Golf Club finds that the club can increase its market share if it slashes membership prices during the first quarter of the year. However, it would mean that the club will not achieve its target return on investment. This conflict illustrates a. the need to eliminate low-profit products. b. a lack of competition in the marketplace. c. how pricing operates in an ideal marketplace. d. the need for trade-offs in pricing objectives.

d. the need for trade-offs in pricing objectives.

Which of the following is an advantage of personal selling over other forms of promotion? a. It adds to the consistency of promotion by using the same sales message for each prospective customer. b. It is considerably more effective in obtaining a sale and gaining a satisfied customer. c. It is effectively directed toward prospective and non-prospective customers. d. It becomes more effective when the number of prospective customers is more.

b. It is considerably more effective in obtaining a sale and gaining a satisfied customer.

Which of the following is true of supply chain management? a. It gives assembly line employees "total visibility and control" of materials, processes, money, and finished products. b. It seeks to increase efficiencies at each level in the upstream and downstream flow of products and services. c. It reflects a completely employee-driven management philosophy. d. It focuses on "pushing" products down the marketing channels to consumers.

b. It seeks to increase efficiencies at each level in the upstream and downstream flow of products and services.

Which of the following is true of the demand management process? a. It seeks to identify and build relationships with good customers. b. It seeks to minimize the costs of serving multiple types of customers. c. It seeks to introduce features and cost-cutting measures into final products. d. It seeks to reduce the time between order and customer receipt.

b. It seeks to minimize the costs of serving multiple types of customers.

Which of the following scenarios represents the role of social media in consumer information search? a. Clara seeks the opinions of her colleagues to help her decide whether to buy a car or a bike. b. Jennifer actively participates in an online forum that discusses about new electronic products. c. Xavier buys a new set of furniture after watching an advertisement about it on the television. d. Bennett uses a discount coupon that he received in his email to buy a product of his choice.

b. Jennifer actively participates in an online forum that discusses about new electronic products.

Which of the following refers to the social media users who maintain a social networking profile and visit other sites? a. Creators b. Joiners c. Critics d. Collectors

b. Joiners

In the context of the factors that determine the promotional mix, which of the following has a very low cost per contact? a. Personal selling b. National advertising c. Sales promotion d. Public relations

b. National advertising

Which statement is true of the maturity stage of the product life cycle (PLC)? a. The beginning of this stage is signaled by increased sales. b. Niche marketers that target the underserved segments of a market emerge. c. It is the shortest stage of the PLC. d. Product design changes tend to become functional rather than stylistic

b. Niche marketers that target the underserved segments of a market emerge.

_____ is used to build and maintain brand loyalty during the growth stage of the product life cycle. a. Connective promotion b. Persuasive promotion c. Reminder promotion d. Informative promotion

b. Persuasive promotion

What kind of a service process does an electrical maintenance worker provide? a. Information processing b. Possession processing c. Mental stimulus processing d. People processing

b. Possession processing

_____ is the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance. a. Public promotion b. Public relations c. Personal selling d. Advertising

b. Public relations

_____ is the effort to capture media attention—for example, through articles or editorials in publications or through human-interest stories on radio or television programs. a. Crisis management b. Publicity c. Audience selection d. Flexibility

b. Publicity

Which of the following is a consequence of the heterogeneity of services? a. No matter where, the customer knows exactly what is offered and what to expect. b. Services are perceived as less standardized and uniform than goods. c. Consistency and quality control of services can be easily achieved. d. Standardization and training prove to be invariably futile or unreliable

b. Services are perceived as less standardized and uniform than goods.

Which of the following refers to the process of identifying and assessing what is being said about a company, individual, product, or brand? a. Advertising campaign b. Social media monitoring c. Crowdsourcing d. Sales promotion

b. Social media monitoring

Laelle Shoes is a popular sports shoe manufacturing company. It funds several tournaments that take place in the country to promote brand awareness and the company's image. In this scenario, which of the following public relations tools does Lealle Shoes use? a. Crisis management b. Sponsorship c. Experiential marketing d. Lobbying

b. Sponsorship

Which of the following refers to a pricing objective that maintains existing prices or meets the competition's prices? a. Sales maximization b. Status quo pricing c. Satisfactory pricing d. Pricing based on perceived satisfaction

b. Status quo pricing

Ira believes that Damien soap moisturizes effectively. When she sees Damien shampoo at the store, she purchases it as she assumes that it will have the same effect. In this case, which of the following forms of learning influences Ira to buy Damien shampoo? a. Product differentiation b. Stimulus generalization c. Selective distortion d. Self-actualization

b. Stimulus generalization

Stone Restaurant, a five-star restaurant, changes its centerpiece, such as candles and vases, every day. The waiters also creatively fold the napkins and place them on the tables at the end of each course. In this scenario, which of the following promotion strategies is adopted by Stone Restaurant? a. Using personal information sources b. Stressing tangible cues c. Engaging in postpurchase communication d. Creating a strong organizational image

b. Stressing tangible cues

Which of the following statements is true of the global issues in services marketing? a. Competition in international services is decreasing rapidly. b. The international marketing of services is a major part of global business. c. The marketing mix elements do not need to take into account each country's cultural environment. d. The first step toward success in the global marketplace is designing the marketing mix elements.

b. The international marketing of services is a major part of global business.

Which of the following statements is true of internal marketing? a. Internal marketing is applicable only to the employees of goods manufacturers and not of service firms. b. The quality of a firm's employees is an important part of building long-term relationships with customers. c. Customers are treated as potential employees as they become the delivery vehicle of the purchased products. d. Different manufacturers exchange goods internally in an attempt to curb a negative competitive spirit

b. The quality of a firm's employees is an important part of building long-term relationships with customers.

Which of the following defines demand? a. The quantity of a product offered to the market by a supplier at various prices for a specified period b. The quantity of a product sold in the market at various prices for a specified period c. A company's product sales as a percentage of total sales for that industry d. A part of profit percentage that is given up in exchange for acquiring a good or service

b. The quantity of a product sold in the market at various prices for a specified period

Which of the following statements is true of opinion leaders? a. They cannot be created by marketers to promote products. b. They are the most influential and informed members of society. c. They demand that people must conform to certain norms of a particular group. d. They can easily span multiple diverse domains.

b. They are the most influential and informed members of society.

Which of the following is true of online retailers? a. They do not require any advertisements or sales promotion to increase their profits. b. They do not need physical retail store space for displaying and selling merchandise. c. They provide a restricted time frame to customers to decide what to buy. d. They provide a limited range of products because of space restrictions

b. They do not need physical retail store space for displaying and selling merchandise.

Test marketing is very expensive. As a result which of the following is true of some companies? a. They go for a national introduction than an expensive test market. b. They do not test market line extensions of well-known brands to save costs. c. It is better to have a large-scale test market that is decidedly affordable. d. They mandatorily test market line extensions of well-known brands.

b. They do not test market line extensions of well-known brands to save costs.

Innovators are eager to try new ideas and products, almost as an obsession. Which of the following is true of them? a. They are the first 12.5% of all those who adopt a product. b. They have higher incomes and are more self-confident. c. They are less worldly, more introverted, and less sociable than noninnovators. d. They have higher incomes and rely more on group norms.

b. They have higher incomes and are more self-confident.

Which statement is true of opinion leaders? a. They most likely belong to the late majority category of adopters. b. They speed up the diffusion process through word-of-mouth communication. c. They are distinguished by demographics. d. They have the longest adoption time and the lowest socioeconomic status

b. They speed up the diffusion process through word-of-mouth communication.

In the context of gender segmentation, which of the following statements is true of women? a. They are rarely part of all-male markets, such as financial markets. b. They tend to research investments in-depth more than men do. c. They are an inexperienced purchasing group, unlike men. d. They tend to accumulate money for the sake of accumulation.

b. They tend to research investments in-depth more than men do.

Which of the following is a purpose of owned media? a. To boost the declining demand for newspapers and magazines b. To develop deeper relationships with customers c. To facilitate word of mouth or online buzz about something a brand is doing d. To allow purchasing of advertisements on social networking websites

b. To develop deeper relationships with customers

Which of the following statements is an objective of the customer relationship management process? a. To identify exactly what items and quantities customers will buy. b. To identify and build relationships with good customers. c. To create customer-focused plans of action prior to actual purchases being made. d. To minimize the costs of serving multiple types of customers.

b. To identify and build relationships with good customers.

Which of the following is the objective of informative promotion? a. To form relationships with potential customers through social media platforms b. To stimulate interest in a new product c. To keep the product and brand name in the public's mind d. To stimulate a purchase or an action

b. To stimulate interest in a new product

In the context of marketing research, which of the following is a difference between traditional surveys and Internet surveys? a. Traditional surveys can grow in volume with little expenditure, whereas Internet surveys are expensive. b. Traditional surveys are labor-intensive, whereas Internet surveys do not involve labor. c. Traditional surveys have high response rates, whereas Internet surveys have a low response rates. d. Traditional surveys speed up the response process, whereas Internet surveys slow it down.

b. Traditional surveys are labor-intensive, whereas Internet surveys do not involve labor.

Fournotts Corp. manufactures a special kind of filter that can purify water quickly, but consumers in the market are not aware of the product's existence. In this case, which of the following strategies will increase the sales of the filter? a. Using status-conscious advertising b. Using direct response advertising c. Using selective advertising d. Using customer-generated advertising

b. Using direct response advertising

Which of the following statements is true of mobile marketing? a. Mobile marketing's response rate is lower than that of traditional media types. b. Visual advertisements are integrated into text messages, applications, and mobile websites. c. Barriers to mobile marketing have been lowered by undoing standardization of mobile platforms. d. An upsurge in the use of smartphones has caused adverse effects on social media marketing.

b. Visual advertisements are integrated into text messages, applications, and mobile websites.

_____ consist of an integrated questionnaire designer, server, database, and data delivery program designed for use by nonprogrammers. a. Online survey panels b. Web survey systems c. Online focus groups d. Web community programs

b. Web survey systems

Under which conditions would personal selling become more important than other forms of promotion? (Check all that apply) a. When customers are geographically dispersed. b. When the value of the product grows. c. When the number of potential customers becomes larger. d. When the product is more complex.

b. When the value of the product grows. d. When the product is more complex.

So far as promotion decisions are concerned, many nonprofit organizations are explicitly or implicitly prohibited from advertising, thus limiting their promotion options. Are federal agencies included in this category? a. No, federal agencies are exempt from this rule. b. Yes, most federal agencies fall into this category. c. Yes, only federal agencies fall into this category. d. Yes, all federal agencies fall into this category

b. Yes, most federal agencies fall into this category.

In the context of ownership arrangement, a chain store is a. a retail business where an operator is granted a license to sell a product under a larger brand name. b. a group of retailers, of one or more brand names, owned and operated by a single organization. c. owned by a person or group and is not operated as part of a larger network. d. a large discount store that specializes in a single line of merchandise and becomes the dominant retailer in its category.

b. a group of retailers, of one or more brand names, owned and operated by a single organization.

A basic, long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle is called ___________. a. strategic management b. a price strategy c. a promotional strategy d. advertising strategy

b. a price strategy

A buyer that has little time to make a purchase decision would likely be classified as _____ rather than _____. a. an institution; a satisficer b. a satisficer; an optimizer c. an optimizer; a reseller d. a producer; a volume purchaser

b. a satisficer; an optimizer

Cheryl's Cookies has decided to create a charity that ships cookies to soldiers stationed in Syria. The soldiers could request the cookies through a mobile app and the orders would be paid for through donations. Because of the difficulty in communicating with people in a war zone, Cheryl's may have trouble with this segment not being: a. measurable. b. accessible. c. substantial. d. responsive.

b. accessible.

Treats Inc.'s advertisement for its newly launched line of frozen foods advocates that its products are organic, follow traditional recipes, and contain high-quality ingredients. The products are ideal for busy professionals who want to eat healthy and save time spent on cooking. In this scenario, Treats Inc. is a. advertising the attributes of its products. b. advertising the benefits of its products. c. using comparative advertising. d. employing institutional advertising.

b. advertising the benefits of its products.

Universal product codes (UPCs) are also known as _____ because the numerical codes appear as a series of thick and thin vertical lines. a. mnemonics b. bar codes c. serial codes d. codicology

b. bar codes

Steve, a retiree, wants to use his savings to open a day care facility for dogs. After deciding on the services that he would provide to his customers, he calculates costs versus the demand and the profit he could make depending on the volume of sales. After extensive deliberation, Steve decides to take a bank loan because the needed initial investment is too high for opening the facility. Steve is currently in the _____ stage of the new-product development process. a. commercialization b. business analysis c. idea generation d. test marketing

b. business analysis

In the context of management uses of marketing research, understanding _____ enables grocery chain marketing managers to determine whether departments in their stores should be moved and/or reorganized. a. competitive market bases b. consumer purchase patterns c. profit-based research d. seller-rate segmentation

b. consumer purchase patterns

Ken, a talented musician, often uses YouTube to share video recordings of the songs he composes. He also blogs about musical styles across various countries. In this case, Ken comes under the category of _____. a. spectators b. creators c. collectors d. inactives

b. creators

Sustainable supply chain management can lead to all of the following except: a. ensure socially responsible business practices are enacted. b. decreased employee diversity. c. protecting the planet's natural resources. d. generate cost savings.

b. decreased employee diversity.

Lewis, a salesperson at an automobile showroom, convinced one of his sales leads to buy the latest car in the showroom. Two weeks after the car was delivered to the buyer, Lewis calls the customer to check if he is satisfied with the car and his service. Upon hearing the satisfied reply, Lewis adds that he can be reached in case of any complaints in the future. In this case, Lewis is

b. following-up with his customer.

A target market is a group of people a. who are least likely to change their purchasing patterns irrespective of any changes in the marketing mix for a product. b. for whom an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group. c. who do not benefit from a new product or any changes made to an existing product targeted at them. d. who collaborate and co-brand their products to increase their market share, boost the sales records, and gain greater profits.

b. for whom an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group.

When using _____, the seller pays all or part of the actual shipment charges and does not pass them on to the buyer. a. FOB origin pricing b. freight absorption pricing c. uniform delivered pricing d. basing-point pricing

b. freight absorption pricing

Zara's retailing operation model: a. combines a mass merchandising strategy with low levels of customer service. b. has the potential to increase repurchases. c. creates demand by continually restocking popular items. d. likely means that the retailer has higher inventory costs.

b. has the potential to increase repurchases.

Perhaps the best way to address retail product or service failures is to: a. dimiss customer complaints. b. have a plan in place to deal with any issues that may arise. c. train employees on how to appropriately apologize to customers. d. offer customers a percentage off discount.

b. have a plan in place to deal with any issues that may arise.

. Roger, an affluent college graduate, buys gadgets on the day of their launch in the market. He reads expert reviews on the Internet, and is not influenced by the opinions of his family and friends while choosing products. Roger is most likely to belong to the category of _____ in the context of diffusion of innovation. a. the late majority b. innovators c. the early majority d. early adopters

b. innovators

Consuming products that have a limited availability a. promotes the items that are always available to a niche market. b. leads to more consumer enjoyment than if the items were always available. c. allows consumers to take their time in purchasing that product. d. offers less customer satisfaction.

b. leads to more consumer enjoyment than if the items were always available.

Within a market, a _____ is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. a. network segment b. market segment c. marketing mix d. parallel market

b. market segment

The process of planning, collecting, and analyzing data relevant to a marketing decision is called _____. a. market segmentation b. marketing research c. strategic planning d. brand analysis

b. marketing research

Samsung is best known for its smartphones, tablets, and televisions. Years ago when it decided to expand its business activities and operations into ship building and military hardware, it was gearing to offer ______. a. discontinuous innovations b. new product lines c. repositioned products d. new-to-the-world products`

b. new product lines

Bambi & I, a manufacturer and retailer of clothing and accessories for children, sells its products at its store and on its website. It has recently unified the two channels to provide efficient and equal service to all its customers. Moreover, it has also introduced a find-in-store feature on its website that displays real-time stock information and allows customers to reserve items for pick-up from the store. This scenario exemplifies a. M-commerce. b. omnichannel marketing. c. a drop and shop program. d. multichannel marketing.

b. omnichannel marketing.

A(n) _____ strategy is unwise to use when a brand name has a negative or vulgar connotation in the local language. a. adaptations-and-modifications b. one-brand-name c. different-brand-name-in-different-markets d. multiple-brand-name

b. one-brand-name

Electric World, an electronics manufacturing company, sells goods and accessories through its website. It also uses social media platforms to advertise its products to prospective customers. In this scenario, Electric World is an example of a(n) _____. a. telemarketer b. online retailer c. automatic vendor d. direct retailer

b. online retailer

In the business of running movie theaters, it was proposed that the tickets be priced significantly higher than usual for each of the opening weekends of the year's summer blockbusters. This kind of pricing is ______. a. patronage-oriented, not revenue-oriented b. operations-oriented, not patronage-oriented c. both revenue-oriented and patronage-oriented d. both operations-oriented and patronage-oriented

b. operations-oriented, not patronage-oriented

The practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market is called ______________. a. status quo pricing b. predatory pricing c. price skimming d. penetration pricing

b. predatory pricing

A(n) ________________ is a brand name owned by a wholesaler or a retailer. a. captive brand b. private brand c. manufacturer's brand d. individual brand

b. private brand

The four major categories of business customers are: a. manufacturers, resellers, industries, and institutions. b. producers, resellers, governments, and institutions. c. manufacturers, suppliers, industries, and schools. d. producers, manufacturers, governments, and industries.

b. producers, resellers, governments, and institutions.

The marketing mix has been described as a. groups of people or organizations sharing one or more characteristics that cause them to have similar product needs. b. product, place, promotion, and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market. c. a principle that holds that 20 percent of all customers generate 80 percent of the demand for a product. d. the steps involved in segmenting a market based on the characteristics of individuals, groups, or organizations.

b. product, place, promotion, and pricing strategies intended to bring about a mutually satisfying exchange relationship with a market.

Disadvantages of relationship selling include: (Check all that apply) a. results in lower levels of customer satisfaction. b. requires highly skilled and knowledgeable salespeople. c. higher cost per presentation than other forms of promotion. d. difficulty in assessing the salesperson's performance.

b. requires highly skilled and knowledgeable salespeople. c. higher cost per presentation than other forms of promotion. d. difficulty in assessing the salesperson's performance.

Evaluating the quality of services before making a purchase is harder than evaluating the quality of goods because, compared to goods, services tend to exhibit fewer ______ qualities. a. experience b. search c. credence d. intangible

b. search

Magnira Corp. is an apparel company. After a slow start, it saw a steep rise in the number of its customers and a remarkable increase in its profits. However, with the launch of competing apparel manufacturers in the market, the profits of Magnira have started declining. To sustain its growth in the market, the managers of Magnira should a. focus on primary demand stimulation rather than advertising the brand. b. shift to aggressive brand advertising and open new branches of its stores. c. advise top management to reduce the number of employees in the company. d. distribute the company's products at limited outlets.

b. shift to aggressive brand advertising and open new branches of its stores.

A _____ is a homogeneous group of people divided on the basis of demographic characteristics, geographic regions, national and ethnic background, political beliefs, and religious beliefs. a. popular culture b. subculture c. social class d. reference group

b. subculture

The quantity of a product that will be offered to the market by a supplier at various prices for a specified period determines the product's ______. a. demand b. supply c. market share d. product share

b. supply

A service-providing firm that does little or no customer satisfaction research is most likely to experience a gap between ______. a. the service quality specifications and the service that is actually provided b. the customers' wants and what management thinks customers want c. what the company provides and what the customer is told it provides d. management's perception of what customers want and the quality specifications it develops

b. the customers' wants and what management thinks customers want

In thinking about the six categories of social media users, joiners can be defined as: a. those who read blogs, listen to podcasts, watch videos, and generally consume media. b. those who maintain a social networking profile and visit other sites. c. those who post comments, ratings, and reviews of products and services on blogs and forums. d. those who use RSS feeds to collect information and vote for websites online.

b. those who maintain a social networking profile and visit other sites.

Torque Roz, an automobile company, uses a unique tire design on its vehicles. A rival company was found copying the exact design for its automobiles. Torque Roz filed a legal claim against the rival company regarding this issue and won the lawsuit. In this scenario, Torque Roz's unique tire design is a registered _____. a. captive brand b. trademark c. private brand d. service mark

b. trademark

When predicting or explaining the rate of acceptance and diffusion of a new product, the degree to which it can be sampled on a limited basis is its ______. a. compatibility b. trialability c. observability d. complexity

b. trialability

Antax Inc. and Wellabs Inc. are both information technology firms based in San Francisco. Antax outsources its warehousing operations to a firm in California, while Wellabs outsources the same operation to a firm in India. A difference between their outsourcing operations is that a. unlike Wellabs, Antax incurs high fuel costs. b. unlike Wellabs, Antax has reduced supply chain risk. c. unlike Antax, Wellabs makes its presence known at a local level. d. unlike Antax, Wellabs manufactures its products more closely to major demand centers.

b. unlike Wellabs, Antax has reduced supply chain risk.

Unlike routine response behavior, in extensive decision making, a consumer a. is familiar with several different brands in the product category but sticks with one brand. b. uses several criteria for evaluating his or her options and spends much time seeking information. c. practices this type of decision making while buying frequently purchased, low-cost goods and services. d. is not familiar with the available brands in the market.

b. uses several criteria for evaluating his or her options and spends much time seeking information.

According to the AIDA (attention, interest, desire, and action) concept, a consumer's attention can be attracted by a. delivering a good sales presentation. b. using a friendly greeting and approach. c. using a strong closing sales pitch. d. illustrating how the product's features will satisfy the consumer's needs.

b. using a friendly greeting and approach.

Personal selling becomes more important as the _____. a. need for mass advertising increases b. value of a product grows c. number of potential customers increases d. complexity of a product decreases

b. value of a product grows

Costs that change with the level of output are called _____ costs. a. fixed b. variable c. independent d. indirect

b. variable

In the context of Internet marketing, a _____ is a carefully selected group of consumers who agree to participate in an ongoing dialogue with a particular corporation. a. face-to-face focus group b. web community c. pro-consumer system d. random sample

b. web community

Laelle Corp. is a supplier of various goods. It is engaged in business marketing if it sells a. chocolates to a school girl. b. wood to a boat manufacturing company. c. electrical appliances to a newly married couple. d. a laptop to a college student

b. wood to a boat manufacturing company

The geographic pricing method that is a modification of uniform delivered pricing, divides the United States (or the total market) into segments, and charges a flat freight rate to all customers in that segment, is called ___________. a. FOB origin pricing b. zone pricing c. uniform delivered pricing d. basing-point pricing

b. zone pricing

Aphroditera Inc., a company that manufactures beauty products, follows the philosophy of sales orientation. In this case, the workforce of Aphroditera Inc. is likely to

be inward looking, focusing on selling what the firm makes.

Which statement is a reason why many retailers are creating and promoting their own captive brands? a. Captive brands carry evidence of a store's affiliation and are available everywhere. b. Captive brands are displayed separately from mainstream products in a store. c. A captive brand strategy allows retailers to ask a price similar or equal to manufacturers' brands. d. A captive brand strategy allows retailers to market private brands as inferior to manufacturers' brands.

c. A captive brand strategy allows retailers to ask a price similar or equal to manufacturers' brands.

Which of the following is true of establishing pricing goals? a. Pricing objectives are either profit oriented or sales oriented if they are to serve company objectives. b. Reaching the desired market share must not entail sacrificing short-term profits because every dollar counts. c. A profit maximization objective may require a bigger initial investment than the firm can commit to or wants to commit to. d. Pricing objectives rarely have trade-offs and thus managers must set them ambitiously to capture the market

c. A profit maximization objective may require a bigger initial investment than the firm can commit to or wants to commit to.

Which of the following refers to a phenomenon in which spending for advertising and sales promotion increases sales or market share up to a certain level but then produces diminishing returns? a. Product advertising b. Institutional advertising c. Advertising response function d. Sales promotion

c. Advertising response function

Which of the following is a difference between agents and wholesalers? a. Agents generally have a large input into the terms of the sale, whereas wholesalers dramatically alter the form of a good and sell it directly to the consumer. b. Agents facilitate the movement of products and services from the manufacturer to producers, whereas wholesalers facilitate the sales of products downstream by representing the interests of retailers. c. Agents do not take title to goods and services they market but do facilitate exchanges of ownership between sellers and buyers, whereas wholesalers take title to the goods they sell. d. Agents are channels that sell directly to consumers as their primary function, whereas wholesalers provide contact efficiency for consumers.

c. Agents do not take title to goods and services they market but do facilitate exchanges of ownership between sellers and buyers, whereas wholesalers take title to the goods they sell.

In order to help gauge the effectiveness of a social media effort, marketers can follow five steps. After identifying the key performance indicators (KPIs), the next step is: a. Assign values to your KPIs. b. Benchmark against competitors. c. Align your social media goals with your business objectives. d. Set up Google Analytics to track conversions.

c. Align your social media goals with your business objectives.

Which statement best defines price fixing? a. A policy whereby a firm charges a high introductory price, often coupled with heavy promotion b. A policy whereby a firm charges a relatively low price for a product when it is first rolled out c. An agreement between two or more firms on the price they will charge for a product d. Charging a price identical to or very close to the competition's price

c. An agreement between two or more firms on the price they will charge for a product

Which of the following is true of trade sales promotions carried out at business meetings and conventions? a. Brands sponsor such events by offering coupons and rebates. b. The cost per contact is much higher than in direct consumer sales. c. Companies can test the market response to new products. d. These events involve loyalty marketing programs.

c. Companies can test the market response to new products.

In the context of marketing strategies, which of the following statements is true of low-involvement products? a. They can be marketed through the same strategies adopted for high-involvement products. b. As consumer buying decisions always occur in the closed environment of a store, in-store displays are ineffective. c. Consumers may not recognize their wants until they are in a store. d. They are bought independent of any cultural, social, individual, and psychological factors.

c. Consumers may not recognize their wants until they are in a store.

Which of the following is a disadvantage of personal selling? a. The sales message cannot be modified according to the prospective customers. b. It is not effective for selling complex or new goods and services. c. Continual sales force management and training are necessary. d. It results in high and uncontrollable costs.

c. Continual sales force management and training are necessary.

Which of the following is the first task in developing a retail strategy? a. Selecting the store location b. Choosing the product assortment c. Defining the target market d. Deciding the promotion strategy

c. Defining the target market

Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The speakers can operate for 16 hours after being exposed to the sun for 2 hours. This product, which is radically different from anything available in the market, falls into which category of new products? a. Repositioned products b. Revised products c. Discontinuous innovations d. New and improved products

c. Discontinuous innovations

Which of the following refers to a private electronic network that links a company with its suppliers and customers? a. Intranet b. Internet c. Extranet d. Intercom

c. Extranet

Laelle Inc., a company with a large employee base and offices in multiple cities, has an in-house medical care unit for its employees at each office location. Joe, a salesperson at AvaMed Pharmacy, has approached Laelle Inc. to offer AvaMed's services in supplying medicines to the medical care units. In this scenario, which of the following is a relevant aspect for Joe to consider while conducting a needs assessment for the prospect? a. He should present a sales proposal to Laelle Inc.'s employees. b. He should only sell AvaMed Pharmacy's products and refrain from comparing their benefits with those of its competitors. c. He should point out that many of the medicines stocked by the medical care units are not fully used before their expiry date. d. He should assess the buying power of Laelle Inc.'s employees.

c. He should point out that many of the medicines stocked by the medical care units are not fully used before their expiry date.

In the context of a marketing research project, which of the following statements is true of the marketing research objective? a. It is based on acquiring capital for upcoming ventures through crowdfunding. b. It is based on the goal of marketing so that large number of consumers can be attracted. c. It defines the specific information needed to solve a marketing research problem. d. It encourages marketing decision making without the use of any form of secondary data.

c. It defines the specific information needed to solve a marketing research problem.

Which of the following is true of complex buying decisions? a. Consumers are least involved in complex buying decisions. b. The most effective promotion reminds the consumer about the brand. c. Personal selling is most effective in helping consumers make complex buying decisions. d. The promotion for products involving complex consumer decisions calls attention to the brand.

c. Personal selling is most effective in helping consumers make complex buying decisions.

_____ is a psychographic segmentation variable that reflects a person's traits, attitudes, and habits. a. Motive b. Gender c. Personality d. Lifestyle

c. Personality

Which of the following statements is true of gray marketing channels? a. They enable consumers to return products to the retailer or manufacturer. b. They include approaches such as mail-order television or video channels, or infomercials. c. They are secondary channels that are used to sell stolen or counterfeited products. d. They keep inventories of their products and sell as well as service them

c. They are secondary channels that are used to sell stolen or counterfeited products.

In the context of the customer relationship management cycle, which of the following statements is true of big data analytics? a. They identify competitors' customers. b. They gather information about customers who are no longer loyal to a brand. c. They compile actionable data about the purchase habits of customers. d. They leverage customer information.

c. They compile actionable data about the purchase habits of customers.

In the context of purchasing profiles, which of the following statements is true of optimizers? a. They refrain from the act of soliciting bids. b. They solely focus on speeding up the buying process. c. They consider numerous suppliers and study all proposals carefully before selecting one. d. They choose the first supplier that meets their minimum product expectations.

c. They consider numerous suppliers and study all proposals carefully before selecting one.

Which of the following describes laggards? a. They have the shortest adoption time and the lowest socioeconomic status. b. They have the longest adoption time and the highest socioeconomic status. c. They have the longest adoption time and the lowest socioeconomic status. d. They have the shortest adoption time and the highest socioeconomic status.

c. They have the longest adoption time and the lowest socioeconomic status.

Which of the following statements is true of Internet surveys? a. They incur labor-intensive efforts like traditional survey methods. b. They issue standardized sets of questions instead of personalized questions. c. They make it easier to connect with people who are difficult to reach. d. They are more cost intensive than phone surveys.

c. They make it easier to connect with people who are difficult to reach.

Which of the following functions is performed by merchant wholesalers? a. They simplify distribution by reducing the number of transactions required by consumers. b. They provide contact efficiency for consumers. c. They provide time and place utility and contact efficiency to retailers. d. They simplify distribution by making an assortment of goods available in one location.

c. They provide time and place utility and contact efficiency to retailers.

Which is a key characteristic of those in the early majority who purchase a new product? a. They do not spend much time weighing the pros and cons of adopting a new product. b. They are likely to collect less information and evaluate fewer brands than early adopters. c. They rely on the group for information but are unlikely to be opinion leaders themselves. d. They tend to be opinion leaders themselves, rather than their friends and neighbors.

c. They rely on the group for information but are unlikely to be opinion leaders themselves.

Which of the following statements is true of new brands with a small market share? a. They do not incur losses in the first five years of entering the market. b. They are not susceptible to the advertising response function. c. They tend to spend proportionately more for advertising and sales promotion than those with a large market share. d. They spend less than their competitors because the effect of advertising is minimal regardless of the cost.

c. They tend to spend proportionately more for advertising and sales promotion than those with a large market share.

Which statement best describes the value of shopping bots to consumers? a. The broad-based bots search for prices for one type of product. b. Shopping bots create opportunities for prestige pricing. c. They theoretically give pricing power to a consumer. d. Niche-oriented bots search a wide range of product categories.

c. They theoretically give pricing power to a consumer.

Which of the following statements is the main function of promotional strategy? a. To understand how a brand's target consumers behave as shoppers in different channels and formats b. To sell products at higher prices to reinforce the prestigious image of retailers c. To convince target customers that the goods and services offered provide a competitive advantage over the competition d. To provide a wide assortment of merchandise

c. To convince target customers that the goods and services offered provide a competitive advantage over the competition

Which of the following is a goal of brainstorming? a. To get a group to arrive at a solution within set parameters b. To get a group to promote a product without varying it c. To discuss ideas while avoiding criticism of them d. To have a group criticize an idea until it is acceptable to all

c. To discuss ideas while avoiding criticism of them

Caroline Perfumes is a premium, exotic women's fragrance company. The manufacturers of Caroline Perfumes want to establish its products as specialty products. In this case, which of the following would be an objective of the manufacturers of Caroline Perfumes? a. To employ mass advertising strategies b. To increase the distribution network c. To focus on establishing a brand name d. To decrease the prices of the products

c. To focus on establishing a brand name

_______________ is a price tactic in which the seller pays the actual freight charges and bills every purchaser an identical, flat freight charge. a. Value-based pricing b. FOB origin pricing c. Uniform delivered pricing d. Zone pricing

c. Uniform delivered pricing

An important part of evaluating satisfaction with a purchase is reducing any lingering doubts. To reduce cognitive dissonance, a consumer could do all of the following except: a. look for favorable reviews of the product online. b. seek positive opinions about the products from friends and family. c. look for unfavorable reviews of the product online to confirm their doubts. d. return the product.

c. look for unfavorable reviews of the product online to confirm their doubts.

Fournotts Corp. manufactures and sells accessories for cell phones. To boost its sales, the research and development team decides to use product modification as an approach to new product development. In this scenario, the research and development team will most likely: a. eliminate products that are inconsistent with Fournotts's business mission. b. develop products by applying new technology. c. make a slight change in the design or function of the existing products. d. add new products to supplement Fournotts's established product line.

c. make a slight change in the design or function of the existing products.

Marketers who want to leverage a social media campaign through paid, earned, and owned media a. should remember that public and media relations always translate into earned media. b. should not focus on advertising through owned media if they have tight budgets. c. must maximize owned media by reaching out beyond their existing websites. d. should consider that customer engagement cannot be achieved through paid media.

c. must maximize owned media by reaching out beyond their existing websites.

Nonprofit organizations differ from profit organizations in that nonprofit organizations a. target the niches that may be most profitable. b. compete with, rather than complement, the efforts of others. c. must often target those who are apathetic about or strongly opposed to receiving their services. d. give priority to developing those market segments that are most likely to respond to particular offerings.

c. must often target those who are apathetic about or strongly opposed to receiving their services.

To provide insights into the needs and wants of divorced parents, lifelong singles, and childless couples, marketers should be aware of _____. a. aspirational groups b. primary reference groups c. nontraditional life cycles d. opinion leaders

c. nontraditional life cycles

. Yater's Inc. is a food and beverage company based in the United States. The company decides to market and sell its products in all European countries under the same brand name. In this scenario, Yater's Inc. has decided to use a(n) _____. a. transactional marketing strategy b. co-branding strategy c. one-brand-name strategy d. individual branding strategy

c. one-brand-name strategy

Mirange Flyer Airlines decides to conduct a research study on the satisfaction levels of its customers. It opts for an Internet survey method. It first locates a group of customers as participants for the study and asks them to log on to a specific website at a particular time. Once the participants log on to the website at the given time, an online moderator types in questions such as, "When was the last time you flew with us?" and "How would you rate our customer service?" The participants are then allowed to respond to these questions. This scenario exemplifies the use of _____. a. web survey systems b. online feedback panels c. online focus groups d. web research programs

c. online focus groups

Unlike new brands with a small market share, brands with a large market share a. need to penetrate consumers' perceptual defenses about a product choice. b. can easily change consumers' deeply rooted values and attitudes. c. only need to remind customers of their products rather than capture their attention. d. spend proportionately more for advertising and sales promotion than new brands.

c. only need to remind customers of their products rather than capture their attention.

When predicting or explaining a new the rate of adoption and diffusion of a new product, relative advantage refers to the degree to which that product is ______. a. free of difficulty relating to its usage b. consistent with existing values c. perceived as superior to existing substitutes d. available to be tried on a limited basis

c. perceived as superior to existing substitutes

Tina is an expert gardener. She provides services like designing and planting new gardens, maintaining gardens, and landscaping. In the context of service processes, the services provided by Tina come under the category of _____. a. information processing b. mental stimulus processing c. possession processing d. people processing

c. possession processing

A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. The company changed its campaign to focus on dietary needs rather than just convenience, thus targeting a segment of consumers looking for healthy diet. This is an example of a ______. a. new line-extension product b. discontinuous innovation c. repositioned product d. new and improved product

c. repositioned product

An online store promises to deliver any order costing over $60 within 24 hours. It uses this strategy to increase the volume of customer orders and the store always delivers on that promise. This company's track record for prompt delivery clearly implies that the company rates high on ______. a. reliability b. assurance c. responsiveness d. empathy

c. responsiveness

Unlike internal information search, external information search a. is done during the need recognition stage. b. stems largely from a person's previous experience with a product. c. seeks information from nonmarketing- and marketing- controlled sources. d. involves recalling information stored in a person's memory.

c. seeks information from nonmarketing- and marketing- controlled sources.

Jeremy was watching news. The news featured the suspected malicious practices that were occurring in Jeremy's favorite shopping mall. When he wanted to share the news with his friend, he could not remember some of the activities featured on the news. This is an example of _____. a. stimulus generalization b. subliminal perception c. selective retention d. selective distortion

c. selective retention

Richard wanted to buy a new video game. He visited three different video game stores and found one video game that he liked a lot. However, he did not buy it. Instead, he bought a digital copy of the same game at a discounted price from the game's website. Richard's shopping involvement is an example of _____. a. store checking b. window shopping c. showrooming d. webrooming

c. showrooming

Vesper Modd, a retailer that sells musical instruments, holds an excellent reputation regarding the knowledge of its sales team. They cater to each customer with utmost attention and help them in choosing products. In this scenario, Vesper Modd is an example of a _____. a. supercenter b. supermarket c. specialty store d. department store

c. specialty store

Health Works is a company that offers services related to health promotion and lifestyle. They not only send their clients reminders for their general checkup but also make house visits for consultations, which are free if a Health Works products or services are bought. They also conduct free workshops for their clients to network and join clusters with similar profiles and regime. Their offerings would fall in the ______ level of relationship marketing. a. social b. customization c. structural d. financial

c. structural

A management system that coordinates and integrates all of the activities performed by member companies into a seamless process, from the source to the point of consumption, resulting in enhanced customer and economic value is called _____. a. customer service management b. manufacturing flow management c. supply chain management d. demand management

c. supply chain management

When comparing the various kinds of relationship marketing, we can say that ______. a. the social level is more developed than the structural level b. the financial level is more developed than the social level c. the customization level is more developed than the social level d. the financial level is more developed than the customization level

c. the customization level is more developed than the social level

The relationship between benefits and the sacrifice necessary to obtain those benefits is known as _____.

customer value

Harlose Inc. is a company that manufactures apparel for men and women. The company focuses on creating customer value. In this case, Harlose Inc. can

customize its products according to customers' requirements.

Riya saw a box of collector's edition comic books at Fournotts, a retail corporation. Each comic was priced at $28.50. A friend of hers who bought five books was required to pay only $19.99 per book. Riya bought just one book and received no discount. Fournotts' revenue from Riya's and her friend's combined purchases was _____. a. $158.51 b. $19.99 c. $28.50 d. $128.45

d. $128.45

QuantPro, a manufacturer of electronic goods, sells its products exclusively through its website. It allows shoppers to purchase products while keeping the prices low. This enables the company to avoid any transactions with intermediaries in its marketing channel. According to this scenario, which of the following channels does Quantico use for the distribution of its products? a. A broker channel b. A wholesaler channel c. A retailer channel d. A direct channel

d. A direct channel

Which of the following is most likely to require personal selling? a. A popular line of shampoos from an established brand b. A new line of clothing for children by a famous designer c. A range of cookware that is on sale in a retail store d. A new type of medical imaging machine used in diagnosis

d. A new type of medical imaging machine used in diagnosis

Which of the following best defines an unsought product? a. A relatively inexpensive item that merits little shopping effort b. Everything, both favorable and unfavorable, that a person receives in an exchange c. A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores d. A product unknown to the potential buyer or a known product that the buyer does not actively seek

d. A product unknown to the potential buyer or a known product that the buyer does not actively seek

Which of the following aspects of packaging is especially important in international marketing? a. Labeling b. Aesthetics c. Climate considerations d. All of the above are correct.

d. All of the above are correct.

Product modification may refer to which of the following? a. Quality modification b. Functional modification c. Style modification d. All of these are correct.

d. All of these are correct.

The term product refers to which of the following? a. Tangible goods b. Services c. Ideas d. All of these are correct.

d. All of these are correct.

Which of the following is true about an implied warranty? a. An implied warranty is a written guarantee. b. An implied warranty gives a guarantee of quality in the form of a simple statement. c. Implied warranty documents can be written in technical language guaranteeing complete satisfaction. d. All sales have an implied warranty under the Uniform Commercial Code

d. All sales have an implied warranty under the Uniform Commercial Code.

Which of the following statements is true of the consumer decision journey? a. A consumer is unlikely to drop a number of items from the potential purchase set. b. Addition of new products takes place in the beginning of the consumer decision journey. c. Reviews from peers, retailers, and competitors are considered only after purchasing a product. d. An advertisement causes a consumer to research a number of products or services.

d. An advertisement causes a consumer to research a number of products or services.

Sandra recently took up the role of a senior sales manager at Luxe, a clothing brand. She wants to ensure that the sales force working under her supervision meets the sales targets. In this case, which of the following must Sandra do? a. Develop sales proposals b. Perform customer profiling c. Research her competitors d. Assign quotas to her team

d. Assign quotas to her team

_____ is a price tactic that charges freight costs from a given point, regardless of the city from which the goods are shipped. a. FOB origin pricing b. Zone pricing c. Uniform delivered pricing d. Basing-point pricing

d. Basing-point pricing

Atwood Furnishers is experiencing a period when their sales are increasing at a slower rate. The company realizes that new users cannot be added indefinitely and that, sooner or later, its market will approach saturation. Which stage is the company now entering? a. End of the decline stage b. End of the introductory stage c. Beginning of the growth stage d. Beginning of the maturity stage

d. Beginning of the maturity stage

_____ is defined as a process whereby retailers use complex mathematical models to make better product mix decisions. a. Microtargeting b. Shopper analytics c. Retail channel omnification d. Big data analytics

d. Big data analytics

Which of the following is a difference between business products and consumer products? a. Business products are promoted mainly through advertising or social media, whereas consumer products are promoted and sold by a company representative. b. Business products are well suited to mass promotion, whereas consumer products are well suited to methods such as personal selling. c. Business products require the creation of brand familiarity during promotion, whereas consumer products do not require the creation of brand familiarity during promotion. d. Business products are often custom-tailored to the buyer's exact specifications, whereas consumer products are not.

d. Business products are often custom-tailored to the buyer's exact specifications, whereas consumer products are not.

The beginning of which stage of the product life cycle is signaled by a long-run drop in a product's sales? a. Introductory stage b. Growth stage c. Maturity stage d. Decline stage

d. Decline stage

Which of the following is a difference between exclusive stores and warehouse clubs? a. Exclusive stores use an indirect distribution channel, while warehouse clubs use a direct channel. b. Exclusive stores offer products at a heavy discount, while warehouse clubs offer no discounts. c. Exclusive stores offer standardized products, while warehouse clubs offer customized goods. d. Exclusive stores offer very high service levels, while warehouse clubs offer almost no service.

d. Exclusive stores offer very high service levels, while warehouse clubs offer almost no service.

Which of the following is a disadvantage of a concentrated targeting strategy? a. It prevents small firms from being able to compete with large firms. b. It often results in unimaginative product offerings that have little appeal to anyone. c. Firms may suffer losses because of weak product positioning. d. Firms may suffer negative consequences if the chosen segment is too small.

d. Firms may suffer negative consequences if the chosen segment is too small.

Which of the following is the final step in the marketing research process? a. Communicating recommendations b. Preparing the project report c. Analyzing data d. Following up

d. Following up

During which stage of the product life cycle, pioneering advertising is heavily used? a. Formative stage b. Conception stage c. Growth stage d. Introductory stage

d. Introductory stage

Which of the following is true of direct mail? a. It employs outbound and inbound telephone contacts to sell directly to consumers. b. It allows consumers to order products online and collect them from a physical store. c. It enables customers to shop over the Internet and have items delivered directly to their doors. d. It allows marketers to precisely target their customers according to demographic, geographic, and/or psychographic characteristics.

d. It allows marketers to precisely target their customers according to demographic, geographic, and/or psychographic characteristics.

Identify a statement that is true of status quo pricing. a. It leads to optimal pricing of a product. b. It requires serious planning and is difficult to implement. c. It focuses on the demand for and the costs of a product. d. It can lead to a pricing disaster.

d. It can lead to a pricing disaster.

Which of the following describes a department store? a. It is a retail store that stocks pharmacy-related products and services as its main draw. b. It is an off-price retailer that is owned and operated by a single manufacturer and carries only its own line of merchandise. c. It carries a deeper but narrower assortment of merchandise within a single category of interest. d. It carries a wide range of products and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture.

d. It carries a wide range of products and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture.

Which of the following statements is true of the microblogging website Tumblr? a. It is not meant for creators. b. It encourages traditional blog-length text posts. c. It is primarily used in businesses to recruit freelancers. d. It does not have text length limits

d. It does not have text length limits

Which of the following is a disadvantage of test marketing? a. It requires major changes in consumer behavior such as rejecting microwave ovens. b. It promotes the criticism of an idea, no matter how ridiculous it may seem. c. It inaccurately predicts the success of a product that creates new consumption patterns. d. It exposes the new product and its marketing mix to its competitors before its introduction.

d. It exposes the new product and its marketing mix to its competitors before its introduction.

Which of the following is an advantage of a brand maintaining a Facebook page? a. It helps marketers eliminate their competitors. b. It allows marketers to buy their own domains from Facebook. c. It helps marketers control negative reviews about their brand. d. It helps optimize search engine results.

d. It helps optimize search engine results.

Which of the following statements is true of simple break-even analysis? a. It does not consider the selling price of a product. b. It does not give weightage to the cost of labor. c. It is applicable only when the demand for a product is elastic. d. It ignores the demand for a product.

d. It ignores the demand for a product.

Which of the following statements is true of major equipment? a. It includes goods such as portable drills, power tools, microcomputers, and computer software. b. It includes materials such as sheet metal, chemicals, specialty steel, treated lumber, and plastic. c. It includes materials such as mineral ore, timber, wheat, corn, fruits, vegetables, and fish. d. It includes capital goods such as expensive machines, mainframe computers, and blast furnaces.

d. It includes capital goods such as expensive machines, mainframe computers, and blast furnaces.

Which of the following statements is true of an express warranty? a. It gives the impression of environmental friendliness to a product. b. It is an unwritten guarantee that a good or service is fit for the purpose for which it is sold. c. It prohibits other firms from using a brand or part of a brand without permission. d. It is a written guarantee that the product or service being sold is fit for the purpose for which it is sold.

d. It is a written guarantee that the product or service being sold is fit for the purpose for which it is sold.

Which of the following statements is true of a wholesaler channel? a. It is most common when the store seller is large and can buy in large quantities directly from the manufacturer. b. It includes telemarketing, mail order and catalog shopping, and forms of electronic selling such as online shopping and shop-at-home television networks. c. It includes approaches such as mail-order television or video channels, or infomercials. d. It is commonly used for low-cost items that are frequently purchased, such as candy, cigarettes, and magazines.

d. It is commonly used for low-cost items that are frequently purchased, such as candy, cigarettes, and magazines.

Which of the following statements is true of the promotional mix? a. The promotional mix of a company is the same for all its products. b. All elements of the promotional mix have the same effect on the target audience. c. All elements of the promotional mix entail direct, two-way communication. d. It is designed to meet the needs of the target market and fulfill an organization's goals.

d. It is designed to meet the needs of the target market and fulfill an organization's goals.

Which of the following is an advantage of multiple-variable market segmentation? a. It uses secondary data that are easily available. b. It maintains the size of each market segment even with multiple segmentation bases. c. It is simpler and easier to use than single-variable segmentation. d. It is more precise than single-variable segmentation.

d. It is more precise than single-variable segmentation.

Which of the following best defines cost per contact? a. It is the cost of promoting a product to one retailer. b. It is the cost of publishing one advertisement in a newspaper. c. It is the cost of promoting a product using a single promotional element. d. It is the cost of reaching one member of the target market.

d. It is the cost of reaching one member of the target market.

In comparison to early adopters, which of the following statements is true of the early majority? a. They are more likely to be opinion leaders. b. They are less likely to extend the adoption process. c. They are self-confident, and they rely less on group norms. d. They are likely to collect more information and evaluate more brands

d. They are likely to collect more information and evaluate more brands.

Which of the following statements best defines social news sites? a. They are websites that are sponsored by a company or one of its brands and maintained by one or more of its employees. b. They are websites that serve as a virtual rolodex, providing recruiters and job seekers alike a network to connect and conduct business. c. They are websites that set a specific limit on the length of posts written by its members. d. They are websites that allow users to decide which content is promoted on a given website by voting that content up or down.

d. They are websites that allow users to decide which content is promoted on a given website by voting that content up or down.

Which of the following statements is true of product items? a. They are the test products that are released by a company before starting a product line. b. They include all the products that an organization manufactures and sells to its consumers. c. They are never made part of any product lines and are sold only in select outlets. d. They can be easily distinguished from other products produced by the same organization.

d. They can be easily distinguished from other products produced by the same organization.

In the context of a marketing research project, which of the following statements is true of secondary data? a. They refer to the data collected for a specific market research purpose at hand. b. They are not used in the problem identification stage of a market research. c. They cannot be used for comparisons with other forms of data. d. They can be obtained from sources within a company and outside the company.

d. They can be obtained from sources within a company and outside the company.

In the context of Internet usage by marketing researchers, which of the following statements is true of web survey systems? a. They are managed by people who agree to participate in online market research surveys. b. They allow respondents to view things such as a concept statement. c. They consist of a database of respondents via a screening questionnaire on their websites. d. They consist of a data delivery program designed for use by nonprogrammers

d. They consist of a data delivery program designed for use by nonprogrammers

Ambient Management, Inc. was experiencing a gap in the services it was providing. It closed the gap by ensuring that its customer-facing staff had the skills, training, and proper tools to perform their jobs. When compared with the gap model of service quality, the gap that the company addressed was between what ______. a. customers wanted and what management thought customers wanted b. the company provided and what the customers were told it provided c. management thought customers wanted and the quality specifications it developed d. the service quality specifications were and the service that was actually provided

d. the service quality specifications were and the service that was actually provided

In the context of diffusion of innovation, the dominant value of laggards is _____. a. skepticism b. deliberateness c. adventure d. tradition

d. tradition

Maria is very empathetic toward animals. So, she only buys cosmetic products that explicitly claim that they have not been tested on animals. In this case, Maria's buying decision is based on _____. a. confirmation biases b. ethical fallacies c. aesthetics d. values

d. values

Marketing myopia refers to

defining a business in terms of goods rather than the benefits customers seek.

When a business asks "What business are we in?" they are:

defining their business mission.

The study of people's vital statistics such as age, race and ethnicity, and location is known as _____.

demography

According to Ansoff's strategic opportunity matrix, _____ is a strategy of increasing sales by introducing new products into new markets.

diversification

A production orientation philosophy

does not consider whether the goods and services that a firm produces most efficiently meet the needs of the marketplace.

A company that produces running shoes specifically for customers with low arches, utilizes a market-orientation approach and likely:

employs customer relationship management strategies.

To avoid cultural problems in international marketing, _____.

firms require a thorough understanding of a country's culture

Pilcher Corp. manufactures tents in its two factories located at two states in Arkadas. It exports its goods to several of its neighboring countries while production remains in the two locations. In this case, Pilcher Corp. is in the _____ of global business.

first stage

A difference between cause-related marketing and corporate giving is that corporate giving

generally involves a specific donation that is tax deductible.

In the context of the marketing mix, distribution strategies are concerned with

making products available when and where customers want them.

_____ is the most critical element in successful strategic planning.

management commitment

Widget Corp. has launched a new range of smart bulbs with enhanced features. Before developing the product, Widget Corp. conducted a thorough research about customer requirements. The company also studied the quality of its competitors' smart bulbs. Based on these insights, we can conclude that Widget Corp. designed smart bulbs that it feels can be clearly distinguished from other brands. Widget Corp. most likely has a _____.

market orientation

The term _____ is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

marketing

The _____ states that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives.

marketing concept

A _____ is the unique combination of product, place (distribution), promotion, and price strategies.

marketing mix

Jalot Communications Inc. conducted a thorough study to identify customer groups that need to be targeted. It came up with a detailed profile of the market and is now focusing on creating an appropriate combination of product, place, promotion, and pricing. In this scenario, Jalot Communications Inc. is working on its _____.

marketing strategy

Josh believes that arson is wrong, but he commits arson by burning down a local meth lab. On the basis of this scenario, it can be said that Josh follows _____.

moral relativism

The ethical theory that does not believe in absolute rules and states that during an ethical dilemma, the most appropriate decision is made by considering all the alternatives and choosing the lesser of the evils as the resolution is

moral relativism

Which of the following refers to the rules people develop as a result of cultural values and norms?

morals

Unlike Hispanic Gen Xers, Hispanic Millennials tend to be

more open-minded about relationships than their parents.

The greater the _____, the more likely it is that marketers will recognize a problem as unethical.

number of people affected by negative consequences

The Internet has made going global easier than it has ever been, but the promise of "borderless commerce" remains restrained because of the

old brick-and-mortar rules, regulations, and habits.

If a target market is international, _____.

political structures affecting the market plan should be described

At the level of _____, people are less concerned about how others might see them and more concerned about how they see and judge themselves over the long run.

postconventional morality

Allied Cosmos, a cosmetics company, decides to expand its operations to lower-income areas in developing countries. It starts to sell shampoos in smaller packages and caters to the needs of people in lower-income areas. In this scenario, Allied Cosmos is involved in _____.

product adaptation

When a firm provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition, a _____ exists.

product/service differentiation competitive advantage

A _____ is a philosophy that focuses on the internal capabilities of a firm rather than on the desires and needs of the marketplace.

production orientation

Powell Motors, an automobile manufacturing company, spent considerable time, effort, and money in developing a fiber-reinforced dashboard for its cars without researching customer needs. Because of the new feature, the cars manufactured by Powell Motors are priced higher than other companies' cars belonging to the same segment. The company has introduced its cars in the market with the hope that customers would like this type of dashboard and buy them despite the high price. In this scenario, Powell Motors has adopted a _____.

production orientation

Tale Tel is a mobile network operator. To increase its market share, the company installed many booths around Linway city to provide information to the general public about the features of its services. In this scenario, Tale Tel is focusing on the _____ element of the marketing mix.

promotion

Business needs government regulation to

protect innovators of new technology.

In the context of marketing management philosophies, a sales orientation aims at

pushing manufacturers' products more aggressively to achieve high profits.

The Foreign Corrupt Practices Act (FCPA) has been criticized for:

putting U.S. corporations at a competitive disadvantage in international trade.

Implementing a marketing plan

requires delegating authority and responsibility, determining a time frame for completing tasks, and allocating resources.

A _____ is based on the belief that people will buy more goods and services if aggressive marketing techniques are used.

sales orientation

Omega Inc. offers a wide range of home appliances. The company's main objective is to promote its products aggressively so that it gains high profits. Omega Inc. employs a team that is specifically assigned with the task of ensuring that a large number of products are sold. In this scenario, Omega Inc. is most likely to be a _____ firm.

sales-oriented

Both large and small firms have embraced social media marketing because

sites such as Facebook, YouTube, and other social media are successful and are popular around the world.

_____ is perhaps the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans.

social change

Hera's Kitchen, a fast-food chain, frequently updates photos of its signature dishes on its blog and moderates a page where its customers can share opinions and give feedback. In this case, Hera's Kitchen is using _____.

social media marketing

The _____ is the idea that an organization exists not only to satisfy customer wants and needs but also to preserve individuals' long-term best interests.

societal marketing orientation

_____ states that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of the firm's operation.

stakeholder theory

Marketers are more likely to recognize a problem as unethical when:

there is greater consensus that the action is harmful.

Harlose Inc. operates in a country that has rich deposits of diamonds. It exports the produce from a few of its underground pipe mines and an open cast mine. Given this information, Harlose Inc. is

utilizing the natural resources of its country.

Companies who seek a B Corp certification likely do so because: (Check all that apply)

- of pressure from government and advocacy groups. - they believe companies have a responsibility to help address social issues. - they know that social responsibility positively impacts companies.

A product that is purchased to fulfill an individual's personal wants and needs is known as a(n) _____. a. consumer product b. intermediate product c. business product d. industrial product

.a. consumer product

Which of the following statements is a difference between act utilitarianism and rule utilitarianism?

Act utilitarianism seeks to benefit the most people regardless of laws, while rule utilitarianism seeks to benefit the most people but through the most just means possible.

_________ is the private label manufacturing by a foreign company.

Contract manufacturing

Fresnas Corp. was held guilty for bribing foreign government officials to procure business deals. Which of the following government agencies is responsible for banning Fresnas Corp. from engaging in international business?

Federal Trade Commission

_____ is a country's gross domestic product (GDP) together with its income received from other countries less similar payments made to other countries.

Gross national income

Which of the following statements is true of a market-oriented organization?

It develops programs that bring about mutually satisfying exchanges between selective groups.

Which of the following statements is true of social change?

It is difficult to integrate into marketing plans.

Which of the following statements is true of the impact of the Internet on global marketing?

Opening an e-commerce site on the Internet immediately puts a company in the international marketplace.

SWOT analysis stands for:

Strengths, Weaknesses, Opportunities, Threats

The most obvious function of packaging is to: a. secure the right of a company to use a brand or part of a brand. b. protect a brand name from being declared a generic product name. c. even out seasonal sales patterns. d. contain products that are liquid, granular, or otherwise divisible

The most obvious function of packaging is to: a. secure the right of a company to use a brand or part of a brand. b. protect a brand name from being declared a generic product name. c. even out seasonal sales patterns. d. contain products that are liquid, granular, or otherwise divisible

_____ is a confirmation of the quality or performance of a good or service. a. A warranty b. A package c. Branding d. Labeling

a. A warranty

Name the method of determining what sales volume must be reached before total revenue equals total costs. a. Break-even analysis b. Markup pricing c. Opportunity analysis d. Fixed-cost pricing

a. Break-even analysis

Which of the following statements is correct about an advertising campaign? a. It extends for a defined period of time. b. It does not use humor to promote a theme. c. It cannot focus on more than one advertising appeal. d. It circumvents the need for post-campaign evaluation.

a. It extends for a defined period of time.

. Which of the following refers to a group of closely related product items? a. Product line b. Product mix c. Product mix width d. Product line depth

a. Product line

In the context of relationship marketing, _____ is the feeling of nurturing concern for, and dependence upon, another. a. amae b. multiplicity c. inelasticity d. nakes

a. amae

A _____ is a price reduction offered to a consumer, an industrial user, or a marketing intermediary in return for prompt payment of a bill. a. cash discount b. quantity discount c. functional discount d. seasonal discount

a. cash discount

A relatively inexpensive item that merits little shopping effort is called a(n) ______________. a. convenience product b. shopping product c. industrial product d. unsought product

a. convenience product

The process that enables companies to prioritize their marketing focus on different consumer groups according to each group's long-term value to the company or supply chain is known as the _____. a. customer relationship management process b. demand management process c. manufacturing flow management process d. customer service management process

a. customer relationship management process

A situation in which consumer response is sensitive to changes in price exhibits ______ demand. a. elastic b. inelastic c. stagnant d. fluctuating

a. elastic

Carol has a 2-year-old daughter and posts write-ups about her child-rearing experiences online. She most often writes about baby products—their benefits and harmful effects. In this case, Carol is a _____. a. mommy blogger b. niche blogger c. lyric writer d. technical writer

a. mommy blogger

Andrew, a product developer at the industrial technology firm Magnira Solutions, has designed a new tool that has extremely high energy efficiency. The tool is proclaimed as a noteworthy invention by many researchers and scientists. In order to improve its image among its customers, Magnira Solutions tells the community in which it operates and its suppliers about the new tool's efficiency. This is an example of _____. a. public relations b. advertising c. personal selling d. sales promotion

a. public relations

A _____ is an announcement that promotes a program of a federal, state, or local government or of a nonprofit organization. a. public service advertisement b. commercial advertisement c. retail advertisement d. surrogate advertisement

a. public service advertisement

A _____ is a statement of a salesperson's sales goals, usually based on sales volume. a. quota b. referral c. sales proposal d. touch point

a. quota

Unlike newspaper advertising, in magazine advertising a. the cost per contact is usually high. b. the color capabilities are low. c. the pass-along rate is low. d. the advertiser commitment is short.

a. the cost per contact is usually high.

Which of the following statements is true of price lines? a. Buyers cannot be offered a wide variety of merchandise at each established price. b. Price lines enable a seller to reach several market segments. c. Firms have to carry a larger total inventory than it could without price lines. d. Price lines are advantageous when costs rise continually.

b. Price lines enable a seller to reach several market segments.

Generally speaking, which of the following marks a product's entry into the growth stage of its life cycle? a. Prices generally begin to destabilize. b. Prices generally begin to stabilize. c. Prices decrease rapidly as competition increases. d. Prices decrease moderately as competition decreases.

b. Prices generally begin to stabilize.

_____ is a vital part of the marketing mix, informing consumers of a product's benefits and thereby positioning the product in the marketplace. a. Price b. Promotion c. Distribution d. Place

b. Promotion

The elements of a brand that cannot be spoken are called ____________. a. a brand name b. a brand mark c. brand equity d. brand loyalty

b. a brand mark

A brand that obtains at least one-third of its earnings from outside its home country, is recognizable outside its home base of customers, and has publicly available marketing and financial data is called ____________. a. a local brand b. a global brand c. brand equity d. a brand mark

b. a global brand

A difference between in-store retailing and nonstore retailing is that unlike a. nonstore retailing, in-store retailing takes a long time in order processing. b. in-store retailing, nonstore retailing adds a level of convenience for customers who wish to shop from their current locations. c. in-store retailing, nonstore retailing only sells tangible, customized products. d. nonstore retailing, in-store retailing is currently growing fast.

b. in-store retailing, nonstore retailing adds a level of convenience for customers who wish to shop from their current locations.

In thinking about the NAICS, companies at the ______ level have more in common than companies at the _____ level. a. sector; industry group b. industry; subsector c. industry; industry subdivision d. subsector; industry subdivision

b. industry; subsector

Nonprofit organizations account for a little over ______ percent of the economic activity in the United States. a. 5 b. 10 c. 20 d. 30

c. 20

Which of the following products has the highest trialability? a. An airline b. A condominium c. A toothpaste d. An investment app

c. A toothpaste

_______________ is the exclusive right to use a tangible product brand or part of a product brand. a. A service mark b. Family branding c. A trademark d. A captive brand

c. A trademark

_____ is any form of impersonal paid communication in which the sponsor or company is identified. a. Direct selling b. Relationship selling c. Advertising d. Public relations

c. Advertising

Which of the following is a benefit of competitive intelligence (CI)? a. It is used by companies to store and integrate customer data. b. It is a cheaper way of gathering intelligence. c. It is an important tool for helping a firm overcome a competitor's advantage. d. It is similar to industrial espionage and is, therefore, inexpensive.

c. It is an important tool for helping a firm overcome a competitor's advantage.

Which of the following is a trend that will lead to the continuing growth of customer relationship management (CRM)? a. Standardization b. Cannibalization c. Loyalty d. Indirect marketing

c. Loyalty

Which of the following is a price tactic that uses odd-numbered prices to connote bargains and even-numbered prices to imply quality? a. One-part pricing b. Price lining c. Psychological pricing d. Price skimming

c. Psychological pricing

Which of the following statements is a difference between relationship selling and personal selling? a. Relationship selling is a multistage process that emphasizes short-term results, whereas personal selling emphasizes long-term results. b. Relationship selling prioritizes making a one-time sale over providing value-added benefits to a buyer, whereas personal selling prioritizes empathy and satisfaction for customers. c. Relationship selling focuses on building mutual trust between a buyer and a seller, whereas personal selling methods attempt to persuade the buyer to accept a point of view. d. Relationship selling aims to achieve a win-lose outcome, whereas personal selling aims to achieve a win-win outcome.

c. Relationship selling focuses on building mutual trust between a buyer and a seller, whereas personal selling methods attempt to persuade the buyer to accept a point of view.

In the context of marketing research, which of the following statements is true of virtual shopping? a. Information about customers' buying behavior cannot be gathered. b. It increases business costs for a manufacturer because of high-end setups involved. c. Researchers simulate an actual retail store environment on a computer screen. d. Customers are required to walk around a store and tag the products they wish to buy using a scanner.

c. Researchers simulate an actual retail store environment on a computer screen.

_____ is defined as the reduction of multiple retail channel systems into a single, unified system for the purpose of creating efficiencies or saving costs. a. Retail channel distribution b. Nonstore retailing c. Retail channel omnification d. Microtargeting

c. Retail channel omnification

Which of the following is a difference between mass communication and interpersonal communication? a. The noise level in mass communication is low, whereas it is high in interpersonal communication. b. Mass communication allows direct conversations with customers, whereas interpersonal communication does not allow direct conversations with customers. c. Senders receive indirect feedback in mass communication, whereas they receive direct feedback in interpersonal communication. d. The reception level in mass communication is high, whereas it is low in interpersonal communication.

c. Senders receive indirect feedback in mass communication, whereas they receive direct feedback in interpersonal communication.

Univ Airlines and Mirago Airlines are competitors. They mutually agree to charge customers a certain price for airfreight. This leads to the several lawsuits being filed against them by other airlines. In this case, Univ Airlines and Mirago Airlines can be charged under the _____ Act. a. Clayton b. Sarbanes-Oxley c. Sherman d. Robinson-Patman

c. Sherman

Which of the following is an example of heterogeneity of services? a. The packaging of the pizza that I ordered today had a very different design and was made of recyclable paper. b. The tire I bought at a Chicago service station came with a discount but lasted as long as another other tire. c. The customer service agent who contacted me last week was more helpful than the one who contacted me today. d. The surgical instruments that doctors use in a New York hospital are the same as those used by doctors in the Miami hospital where I was examined.

c. The customer service agent who contacted me last week was more helpful than the one who contacted me today.

Which of the following is true of Internet auctions? a. Business-to-business auctions are likely to fade away in the future. b. The seller in a reverse auction sells his products or services to the highest bidder. c. The eBay site is the most popular auction site, with more than 100 million buyers and sellers. d. Consumers do not trust Internet auctions and how they work.

c. The eBay site is the most popular auction site, with more than 100 million buyers and sellers.

Ace Deliveries, a courier service provider, built a strong reputation over a short period of six months. Inundated with customers, the company decided to expand its fleet of vans and enlarge its delivery networks and to stop offering the discounts it was offering to some market segments. Because it was the holiday sales season, higher pricing made good business sense. The pricing Ace Deliveries is using is ______. a. patronage-oriented, not operations-oriented b. operations-oriented, not revenue-oriented c. both revenue-oriented and operations-oriented d. both operations-oriented and patronage-oriented

c. both revenue-oriented and operations-oriented

Asterix Inc., an electronics store, sells gadgets of various brands at heavily discounted prices. It dominates its narrow merchandise segment because it offers a complete selection of merchandise. In this scenario, Asterix Inc. is an example of a _____. a. supermarket b. warehouse club c. category killer d. factory outlet

c. category killer

. Steven, a construction worker, tends to buy a new gadget if most of his friends have them and only after they've teased him about not having the gadget yet. He relies on reviews from his friends rather than on television or newspaper advertisements to make his purchase decisions. It can be inferred that when it comes to the diffusion of innovation, Steven belongs to the group of _____. a. early adopters b. innovators c. late majority d. early majority

c. late majority

The first stage in creating an effective social media plan is to _____. a. identify the target audience b. define strategies c. listen to customers d. select tools and platforms

c. listen to customers

Reachall is a web page that allows its users to post messages through their registered accounts. They can post pictures, short videos, and text that do not exceed 200 characters. In this case, Reachall is a _____. a. review site b. social news site c. microblog d. social bookmarking site

c. microblog

Commercials for a new and innovative tablet computer demonstrate the product's capabilities and benefits. The commercials promote the product by advertising the ease of multitasking on the tablet. Since this new product is one of a kind, the commercials aim to project the benefits of the tablet through dramatic advertising. These commercials are an example of _____. a. comparative advertising b. advocacy advertising c. pioneering advertising d. institutional advertising

c. pioneering advertising

Joshua, a famous movie star, has been the brand ambassador of Class Apart Watches for the past 20 years. He sports the latest edition of Class Apart Watches in all his movies. This is an example of _____. a. advergaming b. infomercial c. product placement d. sponsorship

c. product placement

The AIDA model could also be called : a. the want/need/desire model. b. the stop/look/listen model. c. the think/feel/do model. d. the inform/persuade/act model.

c. the think/feel/do model.

In the country of Lumberne, citizens campaigned against the sanction of a new factory that was about to be built in the vicinity of their residences. They argued that the discharge from the factory will pollute the area and adversely affect the quality of life of several residents. These citizens, who campaigned against the sanction, are most likely a part of a _____.

civil society

Having a _____ means to be an inexpensive competitor in an industry while maintaining satisfactory profit margins.

cost competitive advantage

Tangron Farms provides milk to Yinkers, a cheese manufacturing company. In return, Yinkers supplies Tangron Farms with cheddar and cheese, which Tangron Farms markets in its home country. This is an example of _____.

countertrade

A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups is called _____.

customer relationship management

Which of the following statements is true of the order fulfillment process? a. It enables firms to manage volumes of returned product efficiently while minimizing returns-related costs and maximizing the value of the returned assets to the firms in the supply chain. b. It refers to the time delay between the placement of a customer's order and the customer's receipt of that order. c. It ensures that firms in the supply chain have the needed resources to manufacture with flexibility and to move products through a multi-stage production process. d. It involves generating, filling, delivering, and providing on-the-spot service for customer orders.

d. It involves generating, filling, delivering, and providing on-the-spot service for customer orders.

_____ is a process by which customer information is centralized and shared in order to enhance the relationship between customers and an organization. a. Negotiation b. Customer profiling c. Need profiling d. Knowledge management

d. Knowledge management

According to the pyramid of corporate social responsibility, being ethical; doing what is right, just, and fair; and avoiding harm are classified under __________.

ethical responsibilities

When a company develops a single product and follows the same means of promotion all over the world, it is said to be involved in _____.

global marketing standardization

TrinkCan, a health drink manufacturing company in Belwick, entered into an agreement with KidFlavor, a fruit juice company for kids in Acquardica, to form a new company called ChildPower that produces health drinks for kids. In this scenario, ChildPower is an example of an international _____.

joint venture

The practice of sending U.S. jobs abroad is known as _____.

outsourcing

Which of the following factors leads to a product/service differentiation competitive advantage?

Providing product with uniqueness

Which of the following statements is true of a mission statement of an organization?

A mission statement should focus on the markets the organization is attempting to serve.

Which of the following is an example of cause-related marketing?

Aveda donates $4 for each specially-branded hand crème with pink cap to the Breast Cancer Research Foundation.

In the context of the economic environment in the United States, which of the following statements is true of consumers' incomes?

Average U.S. incomes have fallen in the recent years.

In the context of populations, which of the following is a similarity between tweens and teens?

Both populations have high spending power.

The _____ is aimed primarily at children's products, which are defined as those used by individuals 12 years old or younger.

Consumer Product Safety Improvement Act

_____ is a type of morality that moves from an egocentric viewpoint toward the expectations of society.

Conventional morality

Who among the following has the highest purchasing power?

James, whose monthly income and cost of living are $3000 and $1500, respectively.

_____ refers to the description and estimation of the size and sales potential of market segments that are of interest to a firm and the assessment of key competitors in these market segments.

Market opportunity analysis

Which of the following statements is a difference between market-oriented personnel and sales-oriented personnel?

Market-oriented personnel tend to have an external focus, while sales-oriented personnel tend to be inward looking.

_____, an American value that strongly influences attitudes and lifestyles, states that every person should stand on his or her own feet.

Self-sufficiency

Which of the following is the definition of marketing.

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

In the context of competitive factors in the external business environment, which of the following statements is true?

The availability of resources for businesses has declined.

Which of the following statements is true of production-oriented firms?

These firms survive and prosper where competition is weak.

Which of the following statements is true of the Hispanic Millennials in the United States?

They embrace parts of their culture, yet they also look forward to being successful in business.

Which of the following statements is true of moral relativists?

They emphasize the pressure of the moment and whether the pressure justifies the action taken.

Which of the following statements is true of firms that adopt marketing concepts?

They focus on integrating all the organization's activities to satisfy customer wants.

Which of the following statements is true of Asian Americans?

They have the highest average family income of all groups.

According to critics, which of the following statements is true of multinational corporations?

They often transfer capital-intensive technologies to developing nations.

Which of the following statements is true of strategic business units (SBUs)?

They require their own strategies and funding.

In the context of on-demand marketing, which of the following statements is true of market-oriented firms?

They seek to make a profit by creating customer value and customer satisfaction.

Which of the following statements is true of target markets?

They should be assessed based on demographics.

Which of the following statements is true of marketing objectives?

They should be realistic.

In the context of on-demand marketing, which of the following statements is true of sales-oriented businesses?

They try to convince potential customers to buy, even if the customer and product are mismatched.

Who among the following people can be considered an advocate of corporate social responsibility (CSR)?

Thomas, the CEO of Harlose Inc., believes that it is essential for a company to provide a safe working environment to its employees.

Nutty Chunk is a well-known chocolate brand. Before developing the details of the marketing plan, the managers of the company need to frame the marketing objective. In this case, which of the following can be considered a strong marketing objective?

To increase the sales of Nutty Chunk bars by 5 percent compared to the previous year's sales within a year

Which of the following statements correctly compares tangibles and intangibles? a. Consumers and business users have more trouble evaluating services than goods and thus marketers have more trouble promoting intangible services than tangible goods. b. Consumers and business users have more trouble evaluating services than goods; however, marketers have less trouble promoting intangible services than tangible goods. c. Consumers and business users have less trouble evaluating services than goods; however, marketers have more trouble promoting intangible services than tangible goods. d. Consumers and business users have less trouble evaluating services than goods and thus marketers have less trouble promoting intangible services than tangible goods.

a. Consumers and business users have more trouble evaluating services than goods and thus marketers have more trouble promoting intangible services than tangible goods.

Which of the following indicates the ability to place oneself in someone else's shoes—which enables salespeople to understand the client? a. Empathy b. Risk takers c. Ego strength d. Assertiveness

a. Empathy

Which of the following statements is true of an organization's product mix? a. Firms widen their product mix to capitalize on established reputations. b. A wide product mix decreases sales and profit-making potential. c. A wide product mix means that the product line is deep. d. All product items in a product mix follow a standard marketing strategy.

a. Firms widen their product mix to capitalize on established reputations.

Which of the following advertising objectives correctly uses the Defining Advertising Goals for Measured Advertising Results approach? a. Fuel On Inc. aims to achieve a 10 percent increase in the sales of its sports drinks among teenagers within 12 months. b. Puddings and Desserts Inc. aims to boost the sales of its packaged confectionery division. c. Krunch Cookies wants to entertain its customers with a humorous ad featuring children enjoying its products. d. Décor Arts aims to use 10 ecofriendly methods to convey the message of keeping the environment clean.

a. Fuel On Inc. aims to achieve a 10 percent increase in the sales of its sports drinks among teenagers within 12 months.

Hannah likes to frequent Citrus, a fine dining restaurant, as she loves the beef lasagna there and orders it every time she eats there. However, during her recent visit, the lasagna she was served was undercooked. When she informed the manager about it, she learned that the food was cooked by a replacement chef as the usual chef was on leave. In this scenario, which of the following characteristics of services is responsible for the lack of consistency and quality of the food at Citrus? a. Heterogeneity b. Perishability c. Intangibility d. Inseparability

a. Heterogeneity

Lowes would like to create a do-it-yourself blog that would feature articles, new products, and instructional videos. Videos would include easy projects, such as refinishing cabinets and replacing faucets, and more difficult projects, such as building and installing a closet organization system. Lowes has just decided they would like to reach women with the new blog. These women are likely stay-at-home mothers that watch HGTV and read home decorating blogs and have an interest in emulating projects they see on TV or even on social media sites like Pinterest. Lowes is likely at what stage of creating an effective social media plan? a. Identifying the target audience b. implementing and monitoring the strategy. c. Defining strategies d. Listening to customers

a. Identifying the target audience

Which of the following illustrates a difference between individual branding and family branding? a. In individual branding, different brand names are used for different products, whereas in family branding, several different products are marketed under the same brand name. b. Companies use individual branding when products do not vary in use or performance, whereas companies use family branding when products vary greatly in use or performance. c. Individual branding identifies the brand of a part that makes up a product, whereas family branding identifies the entire product. d. Individual branding is used when two brands receive equal treatment, whereas family branding is used when two brands borrow from each other's brand equity.

a. In individual branding, different brand names are used for different products, whereas in family branding, several different products are marketed under the same brand name.

A new range of organic confectionary was introduced by Bounty Foods. The company is forced to give its dealer high margins and also needs to invest heavily in advertising. Their production costs are also high. In which PLC stage is the company most likely to be? a. Introductory stage b. Growth stage c. Maturity stage d. Decline stage

a. Introductory stage

Which of the following is an advantage of retail channel omnification? a. It avoids redundancies in inventory and transportation and saves costs. b. It benefits customers because it reduces delivery times. c. It allows customers to order online and pick their orders from stores. d. It benefits retailers as customers must enter their stores in order to claim their purchases.

a. It avoids redundancies in inventory and transportation and saves costs.

Which of the following statements is true of advertising campaigns? a. It can focus on more than one advertising appeal. b. It circumvents the need for post-advertising evaluation. c. It is the last stage of an advertising process. d. It allows advertising for an indefinite period of time.

a. It can focus on more than one advertising appeal.

Which is a limitation of the PLC concept? a. It does not tell managers the length of a product's life cycle or its duration in any stage. b. It can only dictate marketing strategy with forecasts of events depending on life cycle length. c. It only tells managers the length of a product's life cycle based on past and currently running cycles. d. It cannot help marketers forecast future events and suggest appropriate strategies

a. It does not tell managers the length of a product's life cycle or its duration in any stage.

Which of the following is true of a freestanding location? a. It has low site cost or rent and no nearby competitors. b. It is easier to attract customers to a freestanding location. c. There is limited visibility because it is often located in pedestrian malls. d. There are many retailers around the location to share costs.

a. It has low site cost or rent and no nearby competitors.

Which of the following is true of a customer profile? a. It helps in developing and proposing solutions. b. It negates the need to negotiate with a prospective buyer. c. It provides updates to a salesperson on economic downturns in the market. d. It negates the need to handle customer objections.

a. It helps in developing and proposing solutions.

Axxon, a cell phone brand, recently launched Felix D2, a new cell phone, in the market. The marketers at Axxon have already gained the attention of consumers through advertising and content marketing. They now want to create interest among the target consumers in this new product and thereby increase sales. In this scenario, the marketers can create consumer interest by a. arranging Felix D2 demonstrations and target messages to innovators and early adopters. b. offering unique applications and better features than their competitors. c. convincing the target consumers that Felix D2 will satisfy their needs. d. continuing advertising to communicate the features and benefits more effectively.

a. arranging Felix D2 demonstrations and target messages to innovators and early adopters.

In the context of the consumer decision journey, _____ streamlines journey steps. a. automation b. proactive personalization c. contextual interaction d. involvement

a. automation

Milestones, a start-up job consultancy, takes the first step in the marketing funnel and decides to create a page on a social networking website that describes its services. Through this, it hopes to attract as many followers as possible. In the context of business-to-business (B-to-B) social media marketing, this first step is an example of the marketing metric of _____. a. awareness b. engagement c. review d. conversion

a. awareness

Marketing mixes are designed, implemented, and maintained with the prime intention of a. bringing about a mutually satisfying exchange relationship with a market. b. identifying a target market for a company's products. c. estimating the potential cost of market cannibalization. d. selecting a niche market and targeting products solely at its members.

a. bringing about a mutually satisfying exchange relationship with a market.

Laelle Corp., a multinational company conducts a session on workplace issues such as gender discrimination, sexual harassment, and racism. Given this information, the session will most likely train the employees on _____. a. business ethics b. pricing decision c. expansion criteria d. quality improvement

a. business ethics

According to the gap model of service quality, the gap between the service that customers receive and the service they want a. can be positive or negative depending on the quality of service that was provided. b. can be closed by providing advertising campaigns that promise more than the firm can deliver. c. results from management's ability to translate customers' needs into delivery systems within the firm. d. is the result of a lack of understanding or a misinterpretation of the customers' needs, wants, or desires.

a. can be positive or negative depending on the quality of service that was provided.

Social media monitoring a. can involve sentiment analysis and text mining specific key words on social networking websites. b. focuses on positive comments and ignores negative comments from consumers. c. projects the positive aspects and withholds the defects of a product. d. reduces the importance of negative comments and complaints.

a. can involve sentiment analysis and text mining specific key words on social networking websites.

Sanders Inc. is a multinational company that specializes in manufacturing and selling high-end cameras. It launches a new product Lunar 5.0, and the product becomes highly successful in the market. However, this leads to a significant decline in the sales of Sanders Inc.'s other cameras. This scenario exemplifies _____. a. cannibalization b. personalization c. differentiation d. segmentation

a. cannibalization

A manufacturer making a choice between too few and too many outlets is essentially deciding between providing ______. a. convenience to customers and keeping costs to the company low b. quality products to customers and keeping costs to the company low c. convenience to customers and diversifying into other businesses d. customers an online shopping option and having an exclusive brand

a. convenience to customers and keeping costs to the company low

Wallace Inc., a stationery manufacturing firm, analyzed the purchasing patterns of its customers and segregated customers according to their frequency of purchase. From the data, it was inferred that the customers who made frequent purchases contributed the most to the firm's revenue. In order to retain valuable customers and build good relationships with them, Wallace Inc. started providing them with customized services. In the context of business processes, this scenario is an example of a. customer relationship management. b. demand management. c. customer service management. d. product development and commercialization.

a. customer relationship management.

Firms that indulge in price fixing a. decide how much to charge for a product. b. undercut the price quoted by a seller to a buyer. c. charge different prices to different customers. d. do not sell to two or more different buyers.

a. decide how much to charge for a product.

When considering a product's characteristics and the rate of adoption, complexity refers to the degree to which a new product is ______. a. difficulty to understand and use the new product b. consistent with existing values c. perceived as superior to existing substitutes d. available to be tried on a limited basis

a. difficulty to understand and use the new product

In test marketing, the greatest danger is in choosing a test-site city that ______. a. does not reflect market conditions in the new product's projected market area b. is unique in being representative of the entire city, although it is unlike neighboring cities c. does not respond quickly to changing trends and is highly entrenched in its cultural ways d. has a racial mix and thus has more diversity than other cities in the projected market area

a. does not reflect market conditions in the new product's projected market area

The ability to change prices very quickly, often in real time is known as ___________. a. dynamic pricing b. status quo pricing c. satisfactory pricing d. pricing based on perceived satisfaction

a. dynamic pricing

The standard of behavior by which conduct is judged is known as _____. a. ethics b. trust c. personality d. cognitive ability

a. ethics

Compared to goods, services tend to exhibit more ______ qualities. a. experience and credence b. experience and search c. search and credence d. search and inseparability

a. experience and credence

Which of the following statements is a difference between advertising and personal selling? a. Advertising has a high cost per contact, whereas personal selling has a low cost per contact. b. Advertising can respond only to the questions and the objections that a copywriter thinks are important to customers, whereas salespeople can provide explanations to a prospect. c. Advertising should be directed toward qualified prospects, whereas personal selling should be directed toward unqualified prospects. d. Advertising can provide guidance when a prospect has questions or raises objections, whereas a salesperson cannot provide a demonstration of a product.

b. Advertising can respond only to the questions and the objections that a copywriter thinks are important to customers, whereas salespeople can provide explanations to a prospect.

A training institute offers a range of services to its students. Which of the following is most likely to be its core service? a. Beverages and a free lunch b. Books and course material c. Microphones and lecterns for lectures d. An air-conditioned lecture hall

b. Books and course material

In the context of questionnaire design, which of the following is a similarity between a closed-ended question and a scaled-response question? a. Both encourage an answer to be phrased in the respondent's own words. b. Both ask respondents to choose from a limited list of responses. c. Both lead to biased responses from the audience. d. Both questions are more difficult to tabulate than open-ended questions.

b. Both ask respondents to choose from a limited list of responses.

Which of the following is a similarity between traditional advertising and social media? a. Both are efficient enough to obtain immediate feedback from customers. b. Both lack hard evidence as to the relative effectiveness of advertising tools. c. Both enable their prospective customers to interact with each other. d. Both offer one-to-one ways of interacting with consumers

b. Both lack hard evidence as to the relative effectiveness of advertising tools.

Which of the following statements is true in comparing for-profit service firms and nonprofit organizations? a. While for-profit service firms market tangible products, nonprofit organizations market intangible products. b. Both often require the customer to be present during the production process. c. While for-profit service firms vary greatly from producer to producer, nonprofit organizations are uniform across producers. d. Both vary greatly from day to day, but with the same producer the day-to-day variations are eliminated.

b. Both often require the customer to be present during the production process.

Which of the following is characteristic of both early adopters and the early majority? a. Both groups tend to be opinion leaders. b. Both rely on group norms and values. c. Both desire to earn the respect of others. d. Both are influenced by social media websites and digital promotions

b. Both rely on group norms and values.

. Which of the following helps determine what sales volume must be reached before total revenue equals total costs? a. SWOT analysis b. Breakeven analysis c. Status quo pricing d. Dynamic pricing

b. Breakeven analysis

Felicita Brewery wants to add brown ale beer to its existing list of alcoholic products. The questions the company currently is asking itself are: What is the likely demand for the product? What impact would the new product probably have on total sales, profits, market share, and return on investment? How would the introduction of the product affect existing products? At what stage of new-product development process is this company? a. Developmental stage b. Business analysis stage c. Marketing stage d. Screening stage

b. Business analysis stage

Which of the following statements is true of business markets? a. Business marketers usually approach purchasing rather informally. b. Business customers tend to buy products in large quantities. c. Business customers tend to buy products for personal consumption. d. Business marketers require long channels of distribution.

b. Business customers tend to buy products in large quantities

_____ is the marketing of goods and services to individuals and organizations for purposes other than personal consumption. a. Consumer marketing b. Business marketing c. Media marketing d. Content marketing

b. Business marketing

Which of the following statements is true of greenwashing? a. Consumer demand for green products has helped abate proliferation of green certifications. b. Certification of a product's environmental friendliness by the same company that produced it should be clearly stated on the packaging. c. The Federal Trade Commission does not interfere with the rules regarding green certifications. d. Greenwashing is a highly reliant way of identifying environment-friendly products.

b. Certification of a product's environmental friendliness by the same company that produced it should be clearly stated on the packaging.

In the context of retailing decisions for services, which of the following statements is most likely to be associated with improving service delivery? a. Minimizing the amount of time customers wait in line is a key factor in maintaining the quality of service. b. Choosing the right distribution channel can increase the times that services are available or add to customer convenience. c. If service firms don't have the capacity to meet demand, they must turn down some prospective customers. d. Service firms find it necessary to standardize their quality across different geographic regions to maintain their brand image.

b. Choosing the right distribution channel can increase the times that services are available or add to customer convenience.

Which of the following is correct about sales force training? a. It is done by giving compensation to employees. b. Conducting job training in the field via a live sales call provides real world experience for a trainee. c. Training does not take place in the field or by using online modules. d. It cannot occur during sales meetings, annual meetings, or during the course of everyday business.

b. Conducting job training in the field via a live sales call provides real world experience for a trainee.

__________ describes how people make purchase decisions and how they use and dispose of the purchased goods and services a. Consumer service b. Consumer behavior c. Product adaptation d. Promotion adaptation

b. Consumer behavior

When competition is intense, typically during the growth stage of the product life cycle, it would be most appropriate to use which type of promotion? a. Connection b. Informative c. Reminder d. Persuasive

d. Persuasive

Besides its high cost, what is the other possible problem that test marketing is likely to face? a. The actions of competitors countering the test market may contribute to normalizing conditions that the testing firm might expect in the market. b. The product's success may present a threat to other product extensions recently introduced by the company and thus spread its customers thin. c. It exposes the new product and its marketing mix to competitors before its introduction. Thus, the element of surprise is lost. d. Consumers may perceive the sales promotion, pricing, or advertising campaign as overzealous hard sell or even unfair trade practices

c. It exposes the new product and its marketing mix to competitors before its introduction. Thus, the element of surprise is lost.

Which of the following statements is true of the integrated marketing communications concept? a. It allows each element of the promotional mix to convey a different message about a product to the target market. b. It increases the rift between personal selling and the other elements of the promotional mix. c. It focuses on the careful coordination of all promotional messages for a product or service to maintain the consistency of messages. d. It helps consumers distinguish between the five elements of the promotional mix in an advertisement.

c. It focuses on the careful coordination of all promotional messages for a product or service to maintain the consistency of messages.

Which of the following statements is true of sales promotion? a. It is a long-run tool used to stimulate gradual increases in demand. b. It includes a planned presentation to prospective buyers for the purpose of making a sale. c. It includes experiential marketing whereby events are created to enable customers to connect with brands. d. It is a tool used to build a long-term relationship between the salesperson and the customer.

c. It includes experiential marketing whereby events are created to enable customers to connect with brands.

Which of the following statements describes a customer innovation center? a. It is an approach to repositioning a company's products using sales figures. b. It promotes advertising among status-conscious customers. c. It is a forum for meeting with customers and directly involving them in the innovation process. d. It is used in the business analysis stage of the new-product development process

c. It is a forum for meeting with customers and directly involving them in the innovation process.

Which of the following is correct about humorous advertising? a. It is not used to publicize new brands introduced in the market. b. It is not effective when used to reinforce and remind loyal customers about the benefits of a product. c. It is effective at shaping attitudes when consumers already have a positive image of an advertised brand. d. It is effective in changing consumers' deeply rooted values and attitudes.

c. It is effective at shaping attitudes when consumers already have a positive image of an advertised brand.

Which of the following statements best describes simultaneous product development? a. It is a strategy that provides general guidelines for generating, screening, and evaluating new-product ideas. b. It is used to determine the reactions of potential customers in a market situation. c. It is the process where all the involved areas work together rather than sequentially during a product's development. d. It is a strategy that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation.

c. It is the process where all the involved areas work together rather than sequentially during a product's development

Identify the statement which is correct about lead qualification. a. It refers to using friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations to identify potential clients. b. It refers to a process that describes the ''homework'' that must be done by a salesperson before he or she contacts a prospect. c. It refers to determining the recognized need, buying power, and receptivity and accessibility of a sales prospect. d. It refers to a process in which a salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status.

c. It refers to determining the recognized need, buying power, and receptivity and accessibility of a sales prospect.

Which of the following statements is true of relationship selling? a. It prioritizes making a one-time sale over providing value-added benefits to a buyer. b. It is more often used in selling situations for consumer goods than in selling situations for industrial-type goods. c. It results in loyal customers who purchase from the company time after time, often with an increased share-of-purchase. d. It persuades a buyer to accept a point of view or convinces the buyer to take some action.

c. It results in loyal customers who purchase from the company time after time, often with an increased share-of-purchase.

Which of the following is true of omnichannel marketing? a. It creates redundancy and complexity in a firm's distribution system. b. It requires each channel to operate different transportation and distribution systems. c. It supports a company's multichannel retail operations and unifies its retail interfaces. d. It requires each channel to hold and account for its own inventory.

c. It supports a company's multichannel retail operations and unifies its retail interfaces.

Which of the following is true of trading up? a. It helps shoppers recognize true needs and spend less. b. It seeks to increase store traffic by attracting people through advertisements outside the store. c. It tries to persuade customers to buy a higher-priced item than they originally intended to purchase. d. It seeks to broaden customers' original purchases with related items.

c. It tries to persuade customers to buy a higher-priced item than they originally intended to purchase.

At what level or levels of relationship marketing does a firm use financial and social bonds but also offer value-added services that are not readily available from other firms? a. Neither at the customization level nor at the structural level b. Only at the customization level c. Only at the structural level d. At both customization and structural levels

c. Only at the structural level

Elsem Foods Inc. is a company that manufactures packaged food. It sells several varieties of packaged food such as chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It receives its largest profit from its newly introduced line of tropical fruit juices that are available in different flavors, such as orange, apple, lychee, and cranberry. Given this information, which of the following is a product item of Elsem Foods? a. Chips b. Candies c. Orange juice d. Carbonated drinks

c. Orange juice

Which of the following statements is true of geographic pricing for freight? a. Freight absorption pricing is a tactic that requires a buyer to absorb the freight costs from the shipping point. b. Uniform delivered pricing divides the United States into segments or zones and charges a flat freight rate to all customers in a given zone. c. Postage stamp pricing is adopted when the marketing manager wants total costs to be equal for all purchasers of identical products. d. With basing-point pricing, a seller designates a location as a basing point so that all buyers are not charged the freight cost from that point.

c. Postage stamp pricing is adopted when the marketing manager wants total costs to be equal for all purchasers of identical products.

Duke University submits a press release to The Herald Sun newspaper that Henry Gibson has been named Dean of the College of Business. This illustrates which duty of public relations departments? a. Crisis management b. Investor relations c. Press relations d. Public affairs

c. Press relations

Which of the following is a difference between institutional advertising and product advertising? a. Product advertising is an effective strategy for expressing views on controversial issues, whereas institutional advertising is effective in managing a crisis. b. Product advertising is used to change negative consumer attitudes toward existing brands, whereas institutional advertising is used stimulate primary demand for new commodities. c. Product advertising promotes the benefits of a specific good or service, whereas institutional advertising asks an audience to maintain a favorable attitude toward the advertiser. d. Product advertising focuses on reinforcing positive attitudes toward a brand, whereas the goal of institution advertising is to create demand for a specific commodity.

c. Product advertising promotes the benefits of a specific good or service, whereas institutional advertising asks an audience to maintain a favorable attitude toward the advertiser.

For which type of products are concept tests thought to be less effective in predicting the success of a product? a. Products that are line extensions (same product category and brand) b. Products that are not easily classified into existing product categories c. Products that create new consumption patterns d. Products that do not require major changes in consumer behavior

c. Products that create new consumption patterns

Which of the following statements is true of marketing strategies that can be adopted for high-involvement products a. Marketing managers should link the products to a relatively low- involvement product. b. In-store promotion can be used as an important tool. c. Promotion to the target market should be extensive and informative. d. Marketing managers should focus on package design, so the products are eye-catching and easily recognized on store shelves.

c. Promotion to the target market should be extensive and informative.

Luxury handbag and accessories retailer Rebecca Minkoff utilizes _____ in its stores. Fitting rooms have "magic mirrors" that identify a garment a customer is trying on and then show the customer recommended accessories they could buy to accompany it. a. beacons b. facial recognition c. RFID technology d. big data analytics

c. RFID technology

Which of the following statements is true of retailing? a. The retail sector does not affect the economy of the United States. b. Retailers are responsible for bringing in changes to the marketing environment. c. Retailers have no choice but to react to new trends and innovations. d. Retailing involves products that are used for business-oriented purposes.

c. Retailers have no choice but to react to new trends and innovations.

In the context of marketing research, which of the following is a disadvantage of secondary data? a. They are often too detailed and redundant. b. Sources of secondary data consume a lot of time and money when they help in solving a researcher's problem. c. Sources of secondary data may not give detailed information to assess their quality or relevance. d. They contain irrelevant information that cannot be used for comparative studies.

c. Sources of secondary data may not give detailed information to assess their quality or relevance.

_____ is best defined as a form of direct marketing that employs outbound and inbound telephone contacts to sell directly to consumers. a. Direct retailing b. Direct mail c. Telemarketing d. Microtargeting

c. Telemarketing

_____ refers to everyday devices like refrigerators, toys, lightbulbs, and hot water heaters connecting wirelessly to a network to improve their functionality. a. Modular technology b. The facelift trend c. The Internet of Things d. Share of wallet

c. The Internet of Things

Which of the following statements is true of the product life cycle (PLC)? a. The PLC dictates the marketing strategy to be used for a product. b. A product spends the same amount of time in the different stages of the life cycle. c. The PLC for a product form is longer than the PLC for any one brand. d. Changes in a product, its uses, its image, or its positioning do not affect its life cycle.

c. The PLC for a product form is longer than the PLC for any one brand.C

In the context of gathering primary data through survey research, which of the following is a disadvantage of telephone interviews? a. Central-location telephone facility used in the interviews consume a lot of time. b. Multiple locations need to be used when interviewing people nationwide. c. The cost of telephone interviews increases when respondents refuse to participate. d. The federal "Do Not Call" law applies to survey research.

c. The cost of telephone interviews increases when respondents refuse to participate.

________________ is the number of product lines an organization offers. a. A product item b. The product mix c. The product mix width d. The product line depth

c. The product mix width

Which of the following statements is true of mobile surveys? a. They require more time than other forms of surveys. b. They provide asynchronous feedback to the marketers who conduct the surveys. c. The survey completion rates decrease with the screen size of mobiles. d. A shop-along is not possible in mobile surveys.

c. The survey completion rates decrease with the screen size of mobiles.

__________________ is the practice of modifying products so those that have already been sold become obsolete before they actually need replacement. a. Product modification b. Repositioning c. Product line extension d. Planned obsolescence

d. Planned obsolescence

When advertising a test product, should test locations in particular markets be isolated from media with a far reach, such as television? a. No, if media advertising cannot reach outside that particular market, it will fail to project the product's true potential outside the market and thus the product may then appear less successful than it could be. b. No, if media advertising cannot reach consumers within the market area being tested, it may fail to pull in many consumers from the market and thus the product may then appear less successful than it could be. c. Yes, if media advertising reaches a very large area outside that market, it may pull in many consumers from outside the market being tested and thus the product may then appear more successful than it really is. d. Yes, if media advertising persuades consumers in the market area, the product may then appear more successful than it really is. It would be an advertising success, not a product success.

c. Yes, if media advertising reaches a very large area outside that market, it may pull in many consumers from outside the market being tested and thus the product may then appear more successful than it really is.

Jessica orders a travel bag on Stylista.com and collects the bag on the same day by driving to the closest physical Stylista store. In this scenario, the website Stylista uses a. shopper marketing. b. a retail channel omnification strategy. c. a click-and-collect strategy. d. microtargeting.

c. a click-and-collect strategy.

Return on investment (ROI) for a firm is a. the margin of profit earned by the firm inclusive of the taxes payable by the firm. b. the firm's total assets multiplied by net profits after taxes. c. a measure of the firm's effectiveness in generating profits with the available assets. d. lower than the previous year if the firm has performed better in the market.

c. a measure of the firm's effectiveness in generating profits with the available assets.

Compared to innovators, early adopters ______. a. rely less on group norms and values b. are less oriented to the local community c. are more likely to be opinion leaders d. have weaker affiliations with groups

c. are more likely to be opinion leaders

Unlike niche-oriented shopping bots, broad-based shopping bots a. give pricing power to the retailers. b. search for prices for only one type of product. c. are programs that search websites which are based on a Yellow Pages type of model. d. search sites like SeatGeek and Kayak.

c. are programs that search websites which are based on a Yellow Pages type of model.

A way firms are keeping customers in the loyalty loop is by using _____. a. contextual interaction b. routine response behavior c. automated reordering d. motivation

c. automated reordering

When considering interaction between companies and customers online, _______ is the attention that social media attracts while ______ is the interactions between the brand and the audience, such as retweets or comments. a. awareness; conversions b. conversions; engagement c. awareness; engagement d. engagement; awareness

c. awareness; engagement

Kohls utilizes ______, when a customer drives by their store, they receive a text message with a code for a percentage off in store. a. facial recognition b. big data analytics c. beacons d. RFID technology

c. beacons

With a(n) _____ targeting strategy, a firm selects a market niche for targeting its marketing efforts. a. universal b. undifferentiated c. concentrated d. multisegment

c. concentrated

The amount of ink a printing firm needs is based on the demand for materials that will be printed using that ink. This is an example of _____. a. elastic demand b. consumer demand c. derived demand d. joint demand

c. derived demand

Cleo is given the responsibility of gathering information about the countries where sales of cameras have been high and the reason behind customers' preference of certain cameras to others in the market. In this scenario, Cleo will need to perform the _____ role of marketing research. a. hypothetical b. predictive c. descriptive d. diagnostic

c. descriptive

A limitation of revenue-oriented pricing is that a. it does not focus on maximizing the surplus of income over costs. b. it cannot be used by manufacturing companies. c. determining costs can be difficult for many services. d. the profit goals of a company are not taken into account.

c. determining costs can be difficult for many services.

When evaluating services in terms of marketing strategies, a(n) _____ quality is a characteristic that can be assessed only after use. a. search b. credence c. experience d. intangible

c. experience

A credit card company has a policy wherein the customer earns a point for every 20 dollars spent on purchases made using the card. These points accumulate over a period of time and can be cashed in at the rate of a dollar per point. The policy applies equally to all customers across the country and the company does not interact with individual customers. This is an example of the ______ level of relationship marketing. a. structural b. social c. financial d. customization

c. financial

A difference between informational labeling and persuasive labeling is that informational labeling: a. focuses on a promotional theme or logo rather than on consumer information. b. increases a consumer's cognitive dissonance after a purchase. c. helps a consumer make proper product selections when making a purchase. d. gives an impression of environmental friendliness to a product.

c. helps a consumer make proper product selections when making a purchase.

The _____ is the way an individual would like to be perceived. a. personality b. real self-image c. ideal self-image d. lifestyle

c. ideal self-image

M&N, a popular apparel brand, segments its products on the basis of price. It has a line of high-end clothes targeted at fashionistas; a line of mid-range clothing suitable for middle classes; and a line of cheap, durable clothing that caters to college students. It has segmented its market in this way so that everyone is able to afford its products. In the given scenario, M&N most likely uses _____. a. gender segmentation b. family life segmentation c. income segmentation d. age segmentation

c. income segmentation

That consumers must be present during the production of services points to the ______ of services. a. intangibility b. heterogeneity c. inseparability d. perishability

c. inseparability

Which of the following statements best defines a competitive advantage? a. It is a purchase situation involving a personal, paid-for communication between two people in an attempt to influence each other. b. It is the marketing function that evaluates public attitudes, identifies areas within the organization the public may be interested in, and executes a program of action to earn public understanding and acceptance. c. It is a strategy that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message. d. It is the set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

d. It is the set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

In the context of social networks, which of the following statements is true of LinkedIn? a. It is designed to be multimedia-rich rather than information-rich. b. It allows consumers to post, read, rate, and comment on all kinds of products and services. c. It is primarily used to upload, comment, or share videos and images with friends and relatives. d. It is used primarily by professionals who wish to build their personal brands online.

d. It is used primarily by professionals who wish to build their personal brands online.

Which of the following statements is true of simulated market testing? a. It is often conducted on prototype models during the development stage. b. It is a useful tool for implementing simultaneous product development. c. It is the final stage in the new-product development and marketing process. d. It is used to monitor shopper behavior to assess a product's likely performance.

d. It is used to monitor shopper behavior to assess a product's likely performance.

Which of the following statements is true of the benefit of a product? a. Customers do not buy benefits; they buy attributes. b. A benefit is simply a feature of a product. c. Customers enjoy benefits specifically with expensive products. d. It is what consumers will achieve by using a product.

d. It is what consumers will achieve by using a product.

Which of the following statements is true of the customer service management process? a. It occurs when multiple firms or their functional areas in a supply chain coordinate business processes so they are seamlessly linked to one another. b. It develops management practices that are consistent with a ''systems thinking'' approach. c. It enables companies to prioritize their marketing focus on different customer groups according to each group's long-term value to the company or supply chain. d. It presents a multi-company, unified response system to customers whenever complaints, concerns, questions, or comments are voiced.

d. It presents a multi-company, unified response system to customers whenever complaints, concerns, questions, or comments are voiced.

Which of the following statements is true of competitive intelligence (CI)? a. It refers to the field of marketing that studies the body's responses to marketing stimuli. b. It includes the activities concerned with identifying and counteracting the threat to a firm's security, competitive services, and infrastructure. c. It includes a scanner-based sales-tracking service for the consumer packaged-goods industry. d. It refers to a system that helps managers assess their competitors and vendors to become more efficient and effective competitors.

d. It refers to a system that helps managers assess their competitors and vendors to become more efficient and effective competitors.

Which of the following statements is true of exchange utility? a. It refers to the usefulness of a good or service as a function of the location at which it is made available. b. It refers to the elements of the composition and appearance of a product that make it desirable. c. It refers to the increase in customer satisfaction gained by making a good or service available at the appropriate time. d. It refers to the increased value of a product that is created as its ownership is transferred.

d. It refers to the increased value of a product that is created as its ownership is transferred.

In the context of a straight rebuy, which of the following statements is true of the purchasing contract? a. It tends to increase the level of competition during sales. b. It is used with products that are seldom bought. c. It is used with products that are bought in low volume. d. It tends to make the buyer's decision making routine.

d. It tends to make the buyer's decision making routine.

Identify a true statement about a flighted media schedule. a. It uses light advertising for two months. b. It has less impact than other types of media schedules. c. It is the same as continuous scheduling. d. It varies the frequency of ads to achieve greater impact.

d. It varies the frequency of ads to achieve greater impact.

Which of the following is an individual fact or unique to consumers that influences their buying decisions? a. External stimulus b. Subculture c. Social class d. Lifestyle

d. Lifestyle

Which of the following statements is true of relationship marketing? a. For most suppliers, retaining their current customers has become a secondary focus. b. It has become less important than before because competition is becoming less intense. c. Business suppliers use social networking sites sparingly. d. Maintaining a steady dialogue between a supplier and a customer is a proven way to gain repeat business.

d. Maintaining a steady dialogue between a supplier and a customer is a proven way to gain repeat business.

Which of the following is true of nonprofit organizations? a. The cost of government (i.e., taxes) has become a big item in the American family budget but remains less than health care. b. Together, federal, state, and local governments collect tax revenues that amount to almost half of the U.S. GDP. c. Nonprofit organizations do not include private museums, theaters, schools, and churches. d. Nonprofit services vary greatly from producer to producer and from day to day, even from the same producer

d. Nonprofit services vary greatly from producer to producer and from day to day, even from the same producer.

_____ are individuals who influence consumer buying decisions and are often the most informed, plugged-in, and vocal members of society. a. Initiators b. Decision makers c. Capitalists d. Opinion leaders

d. Opinion leaders

What kind of service processing does the airline industry address? a. Information processing b. Possession processing c. Mental stimulus processing d. People processing

d. People processing

Which statement is true of the relationship of price to quality? a. When a purchase decision involves uncertainty, consumers tend to attribute higher quality to low-priced products. b. Consumers perception that a higher price indicates higher quality seems to vary from one product to another. c. In the absence of other information, people typically assume that if prices are higher, that rarely indicates higher quality. d. Price promotions of higher priced, higher quality brands tend to attract more business than do similar promotions of lowed. Price promotions of higher priced, higher quality brands tend to attract more business than do similar promotions of lower priced and lower quality brands.r priced and lower quality brands.

d. Price promotions of higher priced, higher quality brands tend to attract more business than do similar promotions of lower priced and lower quality brands.

Which of the following represents approaches to create a price strategy? a. Price skimming and penetration pricing, but not status quo pricing b. Penetration pricing and status quo pricing, but not price skimming c. Status quo pricing and price skimming, but not penetration pricing d. Price skimming, penetration pricing, and status quo pricing

d. Price skimming, penetration pricing, and status quo pricing

In the context of business products, which of the following statements is true of raw materials? a. Raw materials are usually sold in small quantities. b. Raw materials are finished items ready for assembly. c. Individual producers greatly influence the pricing and supply of raw materials. d. Promotion of raw materials is usually done via personal selling.

d. Promotion of raw materials is usually done via personal selling.

A popular use for barcode scanning apps is the reading and processing of a. near field communication that transfers information from a device to a nearby device. b. voice messages on a smartphone. c. multimedia messages, which show an attachment after it has been scanned. d. Quick Response (QR) codes that take a user to a specific site with content about products or services.

d. Quick Response (QR) codes that take a user to a specific site with content about products or services.

Which of the following statements is true of rebates? a. Manufacturers have less control over rebate promotions because they take a lot of time to be rolled out and shut off. b. Manufacturers offer price cuts for selected customers. c. Rebates offer more immediate rewards than coupons. d. Rebates are good at enticing purchase but most consumers never bother to redeem them.

d. Rebates are good at enticing purchase but most consumers never bother to redeem them.

Which of the following is an example of a routine buying decision? a. Patrick purchasing a dishwasher after receiving detailed information about its features from the company representative b. Latika buying a particular brand of noodles after seeing various advertisements on television c. Kevin buying a cell phone after doing extensive research about various brands on gadget websites d. Shaina purchasing the soap she has been using for the last 20 years

d. Shaina purchasing the soap she has been using for the last 20 years

Which of the following is a limitation of break-even analysis? a. It does not give an estimate of how much profit can be earned once the break-even point is obtained. b. It does not give weight to the cost of labor that is incurred during production. c. Sometimes it cannot predict the effect of changes in sales price. d. Sometimes it is hard to know whether a cost is fixed or variable.

d. Sometimes it is hard to know whether a cost is fixed or variable.

Which of the following is a difference between specialty stores and full-line discounters? a. Specialty stores de-emphasize customer service, while full-line discounters focus on giving quality customer service. b. Specialty stores offer discounts to lure shoppers, while full-line discounters sell at prices 25 percent or more below traditional department store prices. c. Specialty stores have shallow product lines, while full-line discounters have considerably deep product lines. d. Specialty stores have the thinnest product assortments, while full-line discounters typically carry very wide assortments of merchandise.

d. Specialty stores have the thinnest product assortments, while full-line discounters typically carry very wide assortments of merchandise.

Which of the following statements is true of the development stage of the new-product development process? a. Costs decrease dramatically once a product idea enters the development stage. b. The development stage involves evaluating a new-product idea before creating a prototype. c. Simultaneous product development increases the time spent in the development process. d. The development stage involves examining the feasibility of manufacturing a product at an acceptable cost.

d. The development stage involves examining the feasibility of manufacturing a product at an acceptable cost.

Which of the following is the most important factor in successful new-product introduction? a. The features of the new product should be similar to its substitutes in the market. b. The product should not be developed using crowdsourcing. c. The new product should be priced lower than the other products in the same category. d. The new product should deliver a meaningful and perceivable benefit to a sizable number of people.

d. The new product should deliver a meaningful and perceivable benefit to a sizable number of people.

Which of the following is true of web widgets? a. They are more expensive to develop than apps. b. From a marketing perspective, they limit the reach of an organization beyond existing platforms. c. They allow developers to embed applications into a website as long as they understand the application's source code. d. They allow customers to display company information on smartphone home screens

d. They allow customers to display company information on smartphone home screens

Identify which statement is true of specialty products. a. They are made directly available to a consumer through direct mail. b. They are relatively inexpensive and merit little shopping effort. c. They are easily substituted with other products. d. They are distributed to only a few outlets in a geographic area.

d. They are distributed to only a few outlets in a geographic area.

In the context of marketing research, which of the following statements is true of primary data? a. They cannot be used to answer specific research questions. b. They are cost-effective, thus saving money. c. They are data that are outdated or gathered from past market behavior. d. They are information collected for the first time.

d. They are information collected for the first time.

A large grocery store would like to study how consumers respond to signage in grocery store aisles. They recruit several volunteers to participate in neuromarketing research. The grocery store found that every time the volunteers saw signage that said "Buy One, Get One Free" there was a physiological response and the customer purchased the item. With this information, the grocery store should: a. do nothing. Neuromarketing is too new of a technology to base any decisions on. b. remove all store signage as it is unethical to influence customers in this way. c. require all customers to wear sensors in store to measure their physiological responses. d. place more "Buy One, Get One Free" signage throughout the store to spur purchases.

d. place more "Buy One, Get One Free" signage throughout the store to spur purchases.

. Nestor's Nesties, a confectionery company, sells a variety of dark chocolates, milk chocolates, gummies, fruit juices, crackers, cereals, and even cheese. These products together constitute the company's _____. a. brand symbol b. product line c. brand mark d. product mix

d. product mix

For convenience, pricing objectives can be divided into three categories: a. refundable, competitive, and attainable. b. perceived, actual, and situational. c. differentiated, niche, and undifferentiated. d. profit oriented, sales oriented, and status quo.

d. profit oriented, sales oriented, and status quo.

Diffusion Research Company specializes in conducting market research for various firms. When it receives a new research proposal, its management first estimates the cost of conducting the research and delivering the final research report. The management then attempts to reduce the costs through efficient operations. In this scenario, Diffusion Research Company has a _____ pricing objective. a. cash maximization b. status quo c. sales-oriented d. profit-oriented

d. profit-oriented

Three Arrows Inc. is a company that manufactures paper bags from recycled paper. Its marketers receive complaints that the bags get wet easily and tear after a few weeks of use. The company decides to respond to their customers' complaints by using a thicker, waterproof paper. This is an example of _____. a. product placement b. functional modification c. planned obsolescence d. quality modification

d. quality modification

A cell phone manufacturing company is said to functionally modify one of its products if it: a. introduces a sleek and stylish version of the cell phone with the same specifications. b. reduces the price of the cell phone ahead of a sale. c. introduces stylish headphones for the cell phone. d. releases a software update to fix the cell phone's overheating problem.

d. releases a software update to fix the cell phone's overheating problem.

Offshoring differs from nearshoring in that offshoring a. allows a company to make its presence known at a local level. b. results in companies locating stock at a large number of distribution centers thereby increasing costs. c. allows a firm to manufacture its products more closely to major demand centers. d. results in lower labor costs and high fuel costs.

d. results in lower labor costs and high fuel costs.

The newly opened Stone Restaurant was unable to attract a lot of customers. Because the restaurant's owner had to pay back the loan that he had taken to start the restaurant, he decided to offer a 20 percent discount on the entire menu on weekends. In this scenario, the owner's pricing objective is to maximize _____. a. market share b. profit c. asset d. sales

d. sales

Betty's Bakery sells cupcakes to coffee shops and restaurants. The company strives to increase its market share in terms of the revenue generated. This illustrates the _____ pricing objective. a. status quo b. profit-oriented c. bait d. sales-oriented

d. sales-oriented

To rate concept (or product) alternatives, concept tests are often used at the ______ stage. a. developmental b. business analysis c. marketing d. screening

d. screening

Brandon is planning to buy a new house. He visits Reardon & Matthews, a professional real estate agency, to find a house within his budget. In this case, Brandon is relying on a(n) _____. a. aspirational reference group b. primary membership group c. nonaspirational reference group d. secondary membership group

d. secondary membership group

Consumers usually buy a(n) _____ only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility. a. unsought product b. specialty product c. convenience product d. shopping product

d. shopping product

The approach taken in the process of simultaneous product development leads a company to ______. a. lengthen the development process and incur increased costs b. shorten the development process and incur increased costs c. lengthen the development process and incur decreased costs d. shorten the development process and incur decreased costs

d. shorten the development process and incur decreased costs

A(n) _____is a group of people who are considered nearly equal in status or community esteem, who regularly socialize among themselves, and who share behavioral norms. a. ethnic group b. aspirational group c. family d. social class

d. social class

Learning to differentiate among similar products is known as _____. a. stimulus generalization b. selective distortion c. selective perception d. stimulus discrimination

d. stimulus discrimination

Integrated marketing communications is: a. the process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities. b. the process by which meanings are exchanged or shared through a common set of symbols. c. a plan for the optimal use of the promotion elements like advertising and public relations. d. the coordination of all promotional messages for a product or service.

d. the coordination of all promotional messages for a product or service.

According to the gap model of service quality, the gap between what management thinks customers want and the quality specifications that management develops to provide the service results from a. the inability of management and employees to do what should be done. b. a lack of understanding or a misrepresentation of the customers' needs, wants, or desires. c. misleading or deceptive advertising campaigns promising more than the firm can deliver. d. the inability of management to translate customers' needs into delivery systems within the firm

d. the inability of management to translate customers' needs into delivery systems within the firm.