1 + 2

Which of the following is NOT a functional benefit of packaging? a. Meeting intermediary needs. b. Acting as a silent salesperson c. Protecting the product d. Keeping the product dry. e. Allowing the retailer to display the product on store shelves

Acting as a silent salesperson

The second stage of the consumer buying process is? a. Where the consumer recognizes there is a problem needing a solution. b. Creation of the 'consideration set' c. Postpurchase behavior d. Create dissatisfaction with current products e. identifying potential solutions to the problem.

identifying potential solutions to the problem.

According to a Harvard Business Review article by Nohria and colleagues, of more than 200 management practices, there are four basic business practices that really make a difference in a company's performance. For example successful companies maintain flawless operational ____________? a. Execution b. Mission statements c. Plans d. Product development e. Advertising

Execution

Which of the following media is the richest information channel? a. Newspaper b. Face to face conversations c. Radio d. Outdoor e. Television

Face to face conversations

A selective market coverage approach works best for shopping products that have a distinctive brand. True False

False

It makes it easier for a customer to adopt a new product if the new product is similar to the one it is intended to replace. True False

False

The __________ stage is the heart of the personal selling process and the object is to convert a prospect into a customer? a. Approach b. Presentation c. Close d. Follow-up e. Pre approach f. Prospecting

Close

_____________ involves a company's efforts to differentiate based on environmentally practices? a. Cause marketing b. Whistle blowing c. Doing good d. Environmental diversity e. Green marketing

Green marketing

Which of the market structures best describes the current state of retailing in the United States? a. Franchised b. Pure competition c. Monopolistic competition d. Highly concentrated e. Pure monopoly

Highly concentrated

According the the information presented in class, the role of unsupervised learning in marketing analytics is to create models to predict future outcomes. True False

False

Customers control the features that are available in the products they buy. True False

False

Which of the following research techniques is most likely to be used in exploratory research? a. Survey questionnaire b. Quasi-experiment c. Focus Groups d. Mail survey e. Longitudinal research.

Focus Groups

The ____________ component of the external macro-environment deals with inventions or innovations from applied science or engineering research? a. Economic b. Socio-cultural c. Technological d. Political/legal e. Competitive

Technological

The concept of ___________ recognizes that before an organization can effectively take care of customers' needs, it must focus on its employee's needs? a. Internal rate of return b. Positioning c. Component branding d. Empathy e. Internal marketing

Internal marketing

A market factor...? a. Can be used for forecasting sales b. Is related to demand for your product c. Is something that can be measured d. Is all of these things. e. Exists in a market

Is all of these things.

A temporary price cut is an investment in promotion? True False

True

_____________ include retail and wholesale businesses. a. Facilitators b. Institutions c. Resellers d. Governments e. Industrial Markets

Resellers

_____________ is an ethical perspective that believes the motive behind a behavior is more significant than the outcome of the behavior? a. Religion b. Socialization c. Culture d. Moral idealism e. Utilitarianism

Moral idealism

The "trickle up" theory suggests fashion trends originate with lower classes and migrate upward. True False

True

The product market growth matrix suggests four strategies based on customers and products. Which of the following is NOT one of the basic strategies suggested by this approach? a. Differentiation b. Product development c. Penetration d. Market development e. Diversification

Differentiation

Lands End was traditionally a mail order catalog company. In order to expand their business, they decided to open retail outlets where customers could visit and actually see the merchandise. By analyzing the zip codes from past mail order shipments, they were able to locate new stores in areas where many of their customers already lived. This is an example of? a. Environmental scanning b. Data Mining c. Data manipulation d. Exception analysis e. GIGO

Data Mining

Jiwon is thinking of developing a candy specifically for college students. She thinks that college students would buy candy if it had caffeine in it. Before she invests a lot of money in candy making equipment, she conducts ___________ research to find out if there is a relationship between caffeine and candy sales for college students? a. Causal b. Pseudo c. Exploratory d. Descriptive e. Experimental

Descriptive

What is the difference between a business customer and an individual consumer. a. Consumers go through a 5-stage buying process while business customers do not use a 5-stage buying process. b. Both businesses and individual consumers buy products to help run the organization. c. A business buys products in order to make money while an individual buys products for personal enjoyment. d. Businesses tend to make smaller purchases than individual consumers do. e. A business buys things to make other products while an individual consumer buys things in order to sell them to others.

A business buys products in order to make money while an individual buys products for personal enjoyment.

Which of the following situations is probably illegal price discrimination as determined by the Robinson-Patman Act? a. A bank charges a lower fee for a checking account to customers who have agreed to have their paychecks deposited to the account automatically? b. A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network. c. The Frito Lay company sells potato chips to Wal Mart for less money than to a local grocery store because Wal Mart buys in very large quantities in order to be able to offer low prices. d. A gasoline filling station charges customers who use a credit card or an ATM card three cents extra per gallon. e. These are all examples of illegal price discrimination.

A gasoline refinery sells gasoline to its dealers for 50 cents less than to independent dealers because it doesn't want independent dealers selling gasoline at lower prices than the company's dealer network.

When we speak of a consumer, we are speaking of...? a. An individual who is exactly like every individual who buys a specific product. b. The aggregate demand for a good or service. c. We are speaking of all of these when we speak of a consumer. who purchases things for personal consumption. e. A small business that purchases things for resale to other businesses.

A person who purchases things for personal consumption.

Which of these is NOT a role for a website in digital marketing? a. A place to display content that isn't relevant to potential customers b. A hub for all digital activity c. A place for a "deep landing" d. Establish the user experience e. Improving organic search results

A place to display content that isn't relevant to potential customers

A direct marketing channel consists of? a. A producer and a customer b. A retailer and a customer c. A customer d. A producer and a retailer e. A producer, a truck, and a retailer.

A producer and a customer

What is a double-barreled question? a. A question that can be used as an independent variable and as a dependent variable in causal research. b. A question that is repeated in the questionnaire to check for accuracy. c. An open-ended question. d. A question that is designed to educate the participant rather than to solicit an answer. e. A questionnaire item that is unclear because it combines two questions.

A questionnaire item that is unclear because it combines two questions.

________________ is the basic unit of exchange? a. A share of common stock. b. A transaction c. Currency. d. Trust. e. A legal contract.

A transaction

Which of the following is NOT a cost typically associated with logistics? a. Transportation b. Order processing c. Inventory d. Advertising e. Stockout.

Advertising

Which of the following statements about motivation is FALSE? a. All needs are equally motivating b. Psychological needs are a basic source of motivation c. Physiological needs are a basic source of motivation d. People are not always aware of their true motivation e. All of these statements about motivation are false.

All needs are equally motivating

Which of these is NOT generally considered to be digital marketing? a. All of these are digital marketing b. Social media marketing c. Programmatic advertising d. Automated marketing e. Mobile marketing

All of these are digital marketing

Based on what you understand about the consumer buying process, why is it a good idea for Toyota to feature fuel economy in the advertisements for its hybrid Prius automobile a. Because the company naturally wants customers focus on attributes where their product has an advantage over competitive products. b. Because it encourages consumers to use fuel economy as an evaluation criterion. The Prius compares very favorably to other cars on the basis of fuel economy. c. Because one of the advantages of owning a hybrid car is that you use less gasoline. d. Because the Prius is more expensive than comparable cars that are not hybrids so it would not appear to be as favorable if a customer chose price as the evaluation criterion. e. All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile.

All of these are reasons why it is a good idea for Toyota to feature fuel economy in advertisements for its hybrid Prius automobile.

Which of these is NOT a role for a website in digital marketing? a. A permanent presence on the web b. All of these are roles for a website in digital marketing c. A place for a "deep landing" d. A tool for expressing brand strategy e. Improving organic search results

All of these are roles for a website in digital marketing

It is not unusual for experienced salespeople to tell a joke or an interesting anecdote before 'getting down to business' with the customer. These people recognize the importance of the ___________ stage of the personal selling process? a. Prospecting b. Pre approach c. Approach d. Presentation e. Close f. Follow-up

Approach

The goal during the __________ of the personal selling process is gain the customer's attention and build the foundation for the sales presentation? a. Presentation b. Approach c. Pre approach d. Close e. Prospecting f. Follow-up

Approach

Which of the following is one of the two questions that should be answered when evaluating a marketing plan according to the material presented in class? a. Will these results survive an audit? b. Are there things we could have done better? c. Was credit given to the appropriate people? d. To whom should I report these results? e. Did we exceed our budget?

Are there things we could have done better?

Arwen wanted to open a donut shop where customers could design their own donuts and have them made to order at the time. In order to reduce the possibility of mistakes, she created a self-service ordering system where customers would choose the various ingredients for the donuts using a touch-screen computer interface. Then they would follow along the glass-enclosed production line and watch while her highly skilled workers cooked the donuts from scratch. By using a computer rather than a person to initiate the process, Arwen was using _____________ to make the best use of her highly trained donut makers? a. Price rationing b. Mediation c. Automation d. Productization e. The Dolly Parton Solution

Automation

One of the issues facing _______________, people born between 1946 and 1964 is coming to terms with growing older? a. Generational marketers b. Co-generators c. Generation X'ers d. Generation Y'ers e. Baby boomers

Baby boomers

Which of the following statements about Maslow's Hierarchy of Needs is TRUE? a. Risk takers are motivated by ego needs rather than by safety needs. b. All of these statements about Maslow's Hierarchy of needs are true. c. Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators. d. Ego-centric people are more concerned about their self image than whether they have enough to eat. e. Most people are more concerned about their self image than whether or not they have enough to eat.

Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators.

Why is it that many businesses may be unaware of how they are actually perceived in the market place. a. Because much of the information executives get is from people who are paid by the company. b. Because market positions change rapidly and information is frequently out of date. c. Because sales information does not reflect peoples opinions about a company. d. Because dissatisfied customers usually keep their feelings to themselves. e. Because customers may not be aware of their true feelings about a company or product.

Because much of the information executives get is from people who are paid by the company.

Why is demand inelastic for many industrial goods? a. Because when component prices are lower, manufacturers will use more component parts in their products. b. Because buying agents for business products are trained negotiators which limits the impact of price increases on demand. c. Because large changes in price result in small changes in the quantity demanded. d. Because industrial products are less fashion-oriented so demand doesn't change when fashion trends change. e. Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product.

Because the component cost is so small relative to the cost of the end product that large changes in the price for the component will have little impact on demand for the end product.

Bruce is considering adding dinosaur slippers to his novelty sleepware line. But first, he needs to determine if there is adequate market potential to justify the expense. Bruce is in the _________ stage of the new product development process. a. Business analysis b. Commercialization c. Market testing d. New product strategy e. Idea generation

Business analysis

The Senseo coffee maker is a machine that makes one cup of coffee at a time from specially prepared 'pods' of coffee. You can get the coffee maker at a very reasonable price. However, you can only get refill pods from the manufacturer and they tend to be expensive. This is an example of? a. Convenience pricing b. Captive pricing c. Prestige pricing d. Yield management pricing. e. Price bundling

Captive pricing

An organizational chart is a useful tool for understanding the structure of an organization. Specifically, the connections between the 'boxes' in an organizational chart show patterns of ____________ and ____________ within the organization. a. Hierarchy, dominance b. Communication, authority c. Authority, reward d. Power, influence e. Apples, oranges

Communication, authority

The "Wheel of Fortune" is a game show that has been running on television for a long long time. In order to encourage people to watch the show the producers allow people to go online and create a Spin ID. Sometime during the television show, a spin ID number will be shown on the screen and the person who has that Spin ID will receive the same prize as the contestant on the game show. This is an example of a ___________ sales promotion? a. Deal b. Coupon c. Contest d. Point of purchase e. product placement

Contest

When dealing with logistics there is a fundamental trade-off between ________ and ________. The goal is to keep one high and the other low, but they tend to increase together. a. Upstream, downstream. b. Cost, service level c. Service, responsiveness d. Cost, efficiency e. Profit, revenue

Cost, service level

Which of the following is NOT information that is available categorized by NAICS codes? a. Employment data b. Industry sales data c. Number of firms in an industry d. Salary data e. Current price data

Current price data

A marketer interested in selling luxury goods would naturally pay close attention to changes in the amount of? a. Discretionary income b. National income c. Consumer income d. Disposable income e. Gross income

Discretionary income

When a new product is being adopted by the ____________ , you could say it has reached the mass market. a. Early majority b. Late majority c. Innovators d. Early adopters e. Late adopters

Early majority

Which of the following is NOT a requirement of a market segment? a. Similar to each other with respect to your product b. Different from everybody else with respect to your product c. Economically viable d. Reachable e. Environmentally responsible

Environmentally responsible

Although you have the ability to decide whether or not to do business with a particular supplier, you can't tell the supplier how to run his or her business. This is why suppliers are part of the? a. Internal microenvironment b. Internal macroenvironment c. External microenvironment d. External macroenvironment e. Environmental scan

External microenvironment

Bruce ordered a test bank from teachersupplies.com. The cost of the package was $39.95 plus sales tax (you are responsible for California sales tax, even if you order online). He chose to have the product shipped via UPS ground because it was the least expensive shipping option. Teachersupplies.com is using a ___________ approach to geographic pricing? a. Freight absorption b. Uniform delivered price c. FOB (free on board) d. Zone delivered price e. Promotional allowance.

FOB (free on board)

When I order a book from Amazon.com, an online marketplace, I receive an order confirmation that tells me when my package will leave the Amazon warehouse, the name of the shipper, and a link to the shipper's website that allows me to track the progress of my package from the warehouse to my home. This way I know exactly when to expect my package. This is an example of the use of ____________ to smooth the flow of goods and services through the channel of distribution? a. Permission b. Information c. Payment d. Warehousing e. Intermediation.

Information

For stores selling luxury products, it is important for customers to be able to see the prices of the merchandise when browsing. True False

False

he three steps for developing a market position (or for developing any strategy, really) are? a. Define the problem, hire consultants, implement their recommendations. b. Determine your current situation, do a cost/benefit analysis of the desirability of changing, implement and evaluate the plan. c. Ready, fire, aim. d. Determine which positions look attractive, select the position you want to achieve, develop a plan to achieve the position. e. Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be.

Figure out where you are now, figure out where you want to end up, develop a plan to get you from where you are to where you want to be.

Many national magazines such as Time or Business Week contain advertising that is different depending on where in the country the magazine is purchased. These regional editions are useful for marketers trying to communicate with customers who have been segmented according to ____________? a. Lifestyle b. Demographic c. Psychographics d. Geograpy e. Business versus consumer

Geograpy

_____________ is a guerilla marketing tactic where a company that is not a sponsor of an event will behave in a way that people might think they are in fact a sponsor of the event? a. Lowballing b. Hijacking c. Pseudo sponsorships d. Multilevel marketing e. Disintermediation

Hijacking

Which of the following statements about the growth stage of the product life cycle is FALSE? a. Increasing demand and decreasing competition lead to higher profits. b. Increasing numbers of customers creates the opportunity to develop profitable market segments. c. Increasing demand and high profits encourage competitors to enter the market. d. All of the other statements about the growth stage of the product life cycle are false. e. Branding is an important tool to use in differentiating the product.

Increasing demand and decreasing competition lead to higher profits.

The basic issue when you are dealing with the __________ characteristic of services is that the customer and the service provider have to be together in order for the service to be produced a. Intangibility b. Perishability c. Variability d. Inseparability e. Invisibility

Inseparability

The premise behind sales teams is that? a. Sales is a lonely profession and working in teams allows salespeople to feel less lonely. b. These are all part of the premise behind sales teams. c. Salespeople tend to perform better when they are in competition with others. d. It is difficult to find one person who has all of the skills it takes to be a good salesperson. e. If you spread the work around, you don't have to pay people as much.

It is difficult to find one person who has all of the skills it takes to be a good salesperson.

What is the difference between a relationship and an exchange? a. Relationships are profitable, exchanges can lose money. b. It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange. c. In a relationship, people will make it up to you later if there is a problem with a transaction; in an exchange the problems have to be resolved at the time of the transaction. d. Relationships lose money in the short-run; exchange transactions make money in the short run. e. Relationships are profitable in the long-run, exchanges are profitable in the short run.

It may be good business to lose money on a transaction in a relationship, it is rarely good business to lose money on a transaction in an exchange.

According to Ries and Trout, consumers organize products into categories in their minds. The goal of positioning is to? a. Enter your product into as many categories as possible to increase the chance it comes up with a category. b. Convince consumers that other products in the category are not as good as yours. c. Make it so that your product is the first thing that comes to mind when a category is mentioned. d. Find the strongest category in a consumer's mind and make sure your product has a position somewhere in that category. e. Cross-index the categories so consumers are reminded of your product when thinking of something else.

Make it so that your product is the first thing that comes to mind when a category is mentioned.

The SWOT analysis can be used to develop marketing strategies by ____________? a. Minimizing a weakness or a threat b. These are all ways to develop a strategy using the SWOT analysis. c. Minimizing an opportunity or a strength d. Identifying an opportunity or a strength e. Building on a strength or a threat

Minimizing a weakness or a threat

What do we mean when we speak of the price/value heuristic? a. That in general, people perceive a product with a higher price to be a better product b. That in general, price is the most important component of value. c. That in general, the higher the price, the higher the value of the product d. That for socially consumed goods, price is part of the product. e. That price is only one factor people use to determine a product's value

That in general, people perceive a product with a higher price to be a better product

Sergio is the head designer for 'Robertson House' a high-fashion clothing company. Each year, Sergio completely changes the colors of the clothes he designs so that it will be obvious to anyone who has fashion sense that last years colors are out of date. This "planned obsolescence" tends to affect consumers at the _________ stage of the consumer buying process. a. Problem solving b. Point of purchase c. Decision d. Internal motivation e. Need recognition

Need recognition

Which of these theories explains how individuals decide to purchase new products? a. Diffusion of innovations b. Consumer buying process c. Special relativity d. New product development e. New product adoption

New product adoption

Marketers of ___________ and __________ products have to use intrusive advertising in order to make consumers aware of them at the appropriate point in the consumer buying process? a. Marketers should use intrusive advertising for all products. b. New, unsought c. Memory based, commercial d. Familiar, repeat purchase e. Brand name, hard to find

New, unsought

The first source people turn to for information when making a purchase is...? a. Blogs b. Social media c. Commercial information provided by marketers d. None of these are the first source people turn to for information when making a purchase. e. Trusted friends

None of these are the first source people turn to for information when making a purchase.

Television shopping channels and online selling are examples of? a. Nonstore retailing b. Scrambled merchandising c. Alternative marketing d. Category killers e. Hybrid merchandising

Nonstore retailing

17.3.2 ______________ search results appear without any payment from a sponsor? a. Organic b. Optimized c. Keyword d. Not-for-profit e. Spontaneous

Organic

The ____________ channel flow deals with the movement of the actual product from producer to consumer? a. Physical possession b. Ordering c. Payment d. Promotion e. Ownership

Physical possession

Carlina operates an oil refinery in Houston Texas. She gets her crude oil from the largest oilfield in Texas. Because the product is more or less fluid and because she knows exactly where the raw material is coming from and where it has to go, Carlina uses _________ transportation for this part of her business? a. Truck b. Air c. Water d. Pipeline e. Rail

Pipeline

Mordred had been sued by a former business partner. The partner was seeking $1,000,000 in damages. Mordred felt that this claim was totally unfair. He went to the law firm of Merlin, Guinevere, and Arthur, LLC. He was told that a junior associate could handle his case for $300 and hour or a senior partner could handle the case for $700 and hour. When he asked why there was such a difference in the rates, he was told that the senior partners were in such high demand that they were trying to discourage new clients. This is an example of _____________? a. Automation b. Price rationing c. Productization d. Dive up window e. Visualization

Price rationing

Which of the following is NOT a typical application of data mining as discussed in class? a. Customer acquisition b. Market basket analysis. c. Customer abandonment d. Customer retention e. Product abandonment

Product abandonment

Roxanne has completed her positioning analysis and believes she understands why her adult milk beverage has been performing so badly. Her product was the first product to use aseptic packaging, which allows milk to be stored at room temperature for long periods of time. Introduced in 1999, the product was positioned as a survival food because everybody was worrying about Y2K problems at the turn of the century. Today people are more concerned about nutrition and her aseptic milk is very low in fat. To take advantage of this, she changes her advertising slogan from "It will keep you alive in the next century" to "A healthy beverage, ready and waiting". Roxanne is trying to? a. Reposition her product against itself b. Reduce her production costs c. Make people believe that the market leader is selling an unhealthy drink d. Reposition her product against the competition e. She is trying to do all of these things.

Reposition her product against itself

What is pseudo-research? a. Psuedo-research is when the researchers do not actually collect the data, but they present their findings as if they had actually done the research. b. Research that is conducted to support a decision that has already been made. c. Research that is conducted on the zombie apocalypse and in other pseudo sciences. d. Research conducted on issues that are not important enough to justify the investment. e. Research that is not conducted according to scientific principles.

Research that is conducted to support a decision that has already been made.

The basic communication model describes how a message is transmitted from a sender to a receiver. The receiver's _________ depends on how the message was interpreted by the receiver? a. Field of experience b. Channel of communication c. Response d. Feedback e. Noise

Response

A(n) ______________ is a tool for evaluating an organization's internal and external strengths and weaknesses? a. SWOT analysis b. Environmental scan c. Marketing metric d. Strategic plan e. Marketing audit

SWOT analysis

Which of these is NOT a measure generally used in marketing? a. Share of budget b. Share of voice c. All of these are measures generally used in marketing. d. Satisfaction e. Share of wallet

Share of budget

Which of the following research techniques is most likely to be used in descriptive research? a. Observation study b. Focus group c. Survey questionnaire d. One-on-one depth interviews e. Ethnography

Survey questionnaire

If I were scanning the _____________ environment, I would be interested in the trend where businesses are experimenting with self-driving cars? a. Socio-cultural b. Competitive c. Natural d. Political/legal e. Technological

Technological

The AIDA model for persuasive communication suggests there are four stages you need to go through in order to persuade somebody. The LAST thing you have to do is? a. Create a desire for what it is that you want the person to do. b. Create a positioning statement. c. Get the person interested in what you are saying d. Get the person's attention e. Tell the person what you want them to do.

Tell the person what you want them to do.

Which of these is NOT an advantage of digital marketing when compared to traditional marketing? a. The ability to conduct multiple small experiments to improve marketing outcomes. b. All of these are advantages of digital marketing when compared to traditional marketing. c. Low-cost access to media. d. The ability to know the identity of visitors to your website. e. The potential for instant feedback from customers.

The ability to know the identity of visitors to your website

In a market with four producers and six retailers, the addition of a wholesaling middleman can decrease the number of transactions needed to have an efficient market form 24 to 10. This is an example of? a. Disintermediation b. Selective distribution c. The economy of transactions d. Disruptive innovations e. Economies of scale

The economy of transactions

How many segments should a company target? a. As many segments as you can afford to target with existing financial resources. b. You should target one market segment for each product the company offers. c. You should determine what is the normal number of segments targeted by companies sharing the same NAICS code with you and use that at a guideline for how many segments to target. d. The number that allows you to maximize profits with the resources available to you. e. You can only 'target' one segment. The rest are secondary markets.

The number that allows you to maximize profits with the resources available to you.

Which theory of retail evolution proposes that retail stores start out as low-price low-status stores and then gradually move upscale as the business grows? a. The wheel of retailing b. The retail life cycle c. The fundamental attribution error d. The channel flows concept e. Disintermediation

The wheel of retailing

Which of these is NOT an advantage of television as an advertising medium? a. Television is associated with entertainment b. Everybody (almost) watches TV c. There is a low access cost d. It is a very rich medium e. All of these are advantages of television as an advertising medium.

There is a low access cost

A successful brand adds value to a product because...? a. These are all expressions of the value of brand equity. b. customers are willing to pay a premium price for the product. c. it is a barrier to entry for competitive products. d. it increases the value of a company's common stock. e. of increased customer loyalty.

These are all expressions of the value of brand equity.

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means? a. The law of supply and demand does not apply to a subculture. b. Everyone who is a member of a subculture will want similar products. c. They are more likely to seek out products that affirm their membership in the subculture d. They are more likely to have money to spend on luxury products. e. They will only buy goods and services from members of their subculture.

They are more likely to seek out products that affirm their membership in the subculture

If you are the first to use a brand name in business you have the right to use that name even if another company later trademarks the same brand name. True False

True

There is no such thing as a price that is too high if someone is willing to pay it. True False

True

_____________ is an ethical perspective that believes a decision is ethical if the benefits outweigh the cost? a. Socialization b. Moral idealism c. Religion d. Utilitarianism e. Culture

Utilitarianism

__________ is a function of benefits received and their cost a. Value b. Feature c. Price d. Marriage e. satisfaction

Value

____________ are the costs of production that are tied to and vary with the number of units produced? a. Total costs b. Variable Costs c. Opportunity costs d. Marginal costs e. Fixed costs

Variable Costs

A _____________ is a person who reports unethical behavior in a company? a. Boot licker b. Ethics officer c. Tattle tale d. Whistle blower e. Ethics auditor

Whistle blower

Which of these is a question you should be asking when establishing the objective for a promotional campaign? a. How much emphasis should we give to advertising? b. What is the competition doing with their promotional activity? c. Which method should we use to develop the budget? d. All of these are questions you should be asking when establishing the objectives for a promotional campaign. e. Who is the target audience?

Who is the target audience?

_____________ refers to the number of product lines in a company's product mix. a. Width b. Depth c. Scope d. Market basket e. Count

Width

Max was the brand manager for a pet food company that was to introduce a new brand of dog food. Through research, they had discovered that many dogs do not get enough exercise and this new dog food had stimulants added to give these sedate dogs energy. He thought of the brand name "Playful Puppy" and asked your opinion. You said? a. It is a good brand name because it suggests a product benefit. b. It is a good brand name because it is simple and easy to pronounce. c. It is not a good brand name because it isn't clear that it is about dog food. d. It is a good brand name because it is memorable. e. You said all of these things, and meant them.

You said all of these things, and meant them.

In order for a firm to have an increase in market share as a pricing objective, it is assumed that the firm has? a. leading market share b. profits c. social responsibility d. no competition e. value.

profits