Marketing Final

Starbucks has signed a contract with a television production company to have its brand featured prominently in a new situation comedy about empty nesters. The conditions of the agreement state that the situation comedy will feature only the Starbucks brand of coffee. What kind of advertising technique is being used in this example? a) Geofencing b) Advertainment c) Product placement d) Vertical integration e) Subliminal advertising

c) Product placement

Karen Rogers is a sales person for Solar Panels Inc. She attends builder trade shows to identify potential customers in an effort to build long-term profitable relationships. Karen Rogers is engaging in which step of the selling process? a) Demonstration b) Pre-approach c) Prospecting d) Approach e) Presentation

c) Prospecting

Chic Eyewear, a producer of designer eyeglass frames, promotes their new line in national fashion magazines. Chic Eyewear lists the select optical retailers that carry their line at the bottom of their ads. This is an example of a ________ strategy. a) Push b) Vertical integration c) Pull d) Publish-subscribe e) Direct marketing

c) Pull

What is most likely the first major marketing decision that a retailer must make? a) Positioning b) Targeting c) Segmentation d) Differentiation e) Promoting

c) Segmentation

The American Tie Company, a necktie retailer, offers a deep assortment of men's neckties. The American Tie Company is best described as a(n) _______. a) Department store b) Supermarket c) Specialty store d) Discount store e) Off-price retailer

c) Specialty store

Which of the following is true of perceptual positioning maps? a) They are used by marketers to divide a market into smaller groups with distinct characteristics b) They are used by marketers to identify supplier and retailer perceptions of a product c) They are used to analyze consumer perceptions of a brand relative to competing products d) They are used to divide buyers into groups based on their perceived income and age e) They are used to plot the geographic segments that a company needs to target

c) They are used to analyze consumer perceptions of a brand relative to competing products

Which of the following best describes the personality symbol style of advertising? a) Using ordinary people to show how a product affects them in their daily lives b) Using scientific evidence to support claims about a product in an advertisement c) Using an animated character or mascot to represent a product in an advertisement d) Using a technical expert to recommend a product in an advertisement e) Using a celebrity to endorse a product in an advertisement

c) Using an animated character or mascot to represent a product in an advertisement

Which of the following is most likely true of a product in the maturity stage of a the product life-cycle? a) sales are zero, and the company's investment costs mount b) new competitors enter the market c) a slow down occurs in sales growth d) sales increase with decreasing competition e) new distribution channels are acquired

c) a slow down occurs in sales growth

Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research. a) exploratory b) descriptive c) causal d) focus group e) ethnographic

c) casual

Which of the following sets the upper limit for a producer's pricing? a) profits b) product costs c) consumer perceptions of value d) elements of the product mix e) competition

c) consumer perceptions of value

______ pricing involves setting prices based on the expenses involved in producing, distributing, and selling a product plus a fair rate of return for a company's effort and risk. a) competition-based b) value-added c) cost-based d) good-value e) demand-based

c) cost-based

In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes ________. a) are primarily used to hold and protect products b) have created confusion in the marketplace c) create immediate consumer recognition d) de-emphasize the importance of labels e) stifle the brand awareness and recognition

c) create immediate consumer recognition

Mary Kay Cosmetics and Amway sell their products through home and office sales parties, online Web sites, and social media. Both companies use a(n) _______ channel to distribute their offerings. a) functional b) indirect c) direct d) layered e) behavioral

c) direct

Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) _________. a) lagging adopter b) innovator c) early adopter d) early mainstream adopter e) late mainstream adopter

c) early adopter

Flurrbies, a line of winter accessories by a leading fashion label, quickly fell in and out of favor with customers. Flurrbies represents an example of a(n) ________. a) form b) fashion c) fad d) style e) drift

c) fad

Consumers rely less on price to judge the quality of a product when they __________. a) lack information about the product b) are unable to research the product c) have prior experience with the product d) are unable to judge the quality of the product e) rely on cues from sellers to differentiate a high or low price

c) have prior experience with the product

Moving products and materials from suppliers to the factory is known as ________ logistics. a) outbound b) reverse c) inbound d) downstream e) inventory

c) inbound

Producers of convenience products and common raw materials typically seek ______ distribution -- a strategy in which they stock their products in as many outlets as possible. a) selective b) exclusive c) intensive d) exponential e) comprehensive

c) intensive

_______ are sets of interdependent organizations that help make the product or service of a company available for use by consumers or business users. a) research and development channels b) upstream channels c) marketing channels d) raw materials suppliers e) backward integration chains

c) marketing channels

A(n) _____ is best suited for exploratory research. a) mail survey b) questionnaire c) observation d) online survey e) focus group

c) observation

World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic? a) tangibility b) intangibility c) perishability d) variability e) inseparability

c) perishability

Susan has been redecorating her new condo for a year. She is carefully selecting every item. Susan finds an oriental rug that matches her color scheme and decor perfectly and purchases it immediately without engaging in comparison shopping. This is an example of a(n) ____________. a) shopping product b) convenience product c) specialty product d) industrial product e) capital product

c) specialty product

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) ________. a) modified rebuy b) new task situation c) straight rebuy d) dual distribution system e) exclusive distribution system

c) straight rebuy

_______ is a method of gathering primary data that involves asking people questions about their knowledge, attitudes, preferences, and buying behavior. a) observational research b) archival research c) survey research d) experimental research e) causal research

c) survey research

Fads are characterized by their ________. a) enduring nature that spans several generations b) low rates of adoption by consumers c) unusually high sales and rapid decline d) basic and distinctive modes of expression that seldom become unpopular e) non-attainment of the last two stages of the product life-cycle

c) unusually high sales and rapid decline

Kevin Pinker is a freelance computer programmer who writes computer algorithms for companies such as SoftStar and BlueHill. SoftStar and BlueHill use these algorithms to make specific programs based on online market research. These programs are then sold to the online retailer, Abundon, which then sells them to individual consumers and businesses. Which of the following is a marketing intermediary in this chain? a) SoftStar b) BlueHill c) the consumer d) Abundon e) Kevin Pinker

d) Abundon

Window Concepts has introduced a new line of windows that offer the same benefits as solar panels in reducing heating and cooling costs in homes. The state-of-the-art windows will also contribute to the slowing of global warming while providing energy reliability. The company sends a team of representatives to the National Doors and Windows Trade Show to promote the new line of windows. Which promotion mix tool has Window Concepts used in this scenario? a) Crowd-sourcing b) Public relations c) Advertising d) Personal Selling e) Crowd-casting

d) Personal Selling

Which of the following is most likely a true statement about services? a) Services can be stored for later sale or use b) Service quality is not dependent on the provider c) Services can be easily separated from their providers d) Service industries vary greatly e) Demand fluctuation has little to no impact on service providers

d) Service industries vary greatly

Which of the following is the first step in developing an advertising program? a) Setting the advertising budget b) Developing an advertising strategy c) Developing a brand message d) Setting advertising objectives e) Evaluating advertising campaigns

d) Setting advertising objectives

Retailers must decide three major product variables: product assortment, services mix, and _________. a) Store location b) Store layout c) Self-service offerings d) Store atmosphere e) Store ambience

d) Store atmosphere

Rug Designs Inc, a manufacturer of large area rugs, markets its products throughout the US using a network of regional sales offices. They are using a _________ sales-force structure. a) Market b) Customer c) Product d) Territorial

d) Territorial

Which of the following statements is true of salespeople? a) They do not work with wholesalers and retailers b) They are employed mostly in click-only companies c) They do not represent the customers to the company d) They represent the company to its customers by communicating and selling e) They represent a new class of professionals who have emerged as part of the steep rise in retailing

d) They represent the company to its customers by communicating and selling

Which mode of transportation is best for carrying perishable goods to distant markets? a) railroads b) water carriers c) trucks d) air carriers e) pipelines

d) air carriers

Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over a century ago. Since the release, the company has had remarkable sales and Krayons has remained unchanged. However, over the last few years, sales of Krayons have been stagnant. Competitors have begun marking prices down, and increasing their advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of the product life-cycle. a) introduction b) maturity c) growth d) decline e) incubation

d) decline

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged men, and the other line targets younger, up-and-coming professionals. Harry's most likely segments the consumer market based on ________ variables. a) geographic b) psychographic c) universal d) demographic e) behavioral

d) demographic

Burger Town introduced a new hamburger and released it in two different cities at two different prices. Marketers of Burger Town then analyzed the sales records of their outlets at the two cities, determined the price that resulted in better profits, and used the information to set a nationwide price for their new offering. This is an example of ________. a) exploratory research b) survey research c) Netnography research d) experimental research e) descriptive research

d) experimental research

Which of the following statements is most likely true about the product life-cycle? a) throughout the product introduction stage, sales are zero b) the growth stage is the longest stage of the product life-cycle c) profits are non-existent in the growth stage d) growth is a period of rapid market acceptance and increasing profits e) maturity is the period when sales fall off but profits continue to rise

d) growth is a period of rapid market acceptance and increasing profits

Becca wants to buy a new coat. She asks her friends to recommend a store and /or a style of coat. She looks for sale advertisements for coats in newspapers and also visits nearby stores to check if she can find a coat in her budget. In this case, Becca is most likely in the _______ stage of the buyer decision process. a) product evaluation b) evaluation of alternatives c) need recognition d) information search e) purchase decision

d) information search

Appliances Galore is continually updating its line of refrigerators to reflect market trends and customer needs. Although the product class is in the maturity stage of the product life cycle, they maintain healthy sales of their line of refrigerators by continually ________. a) concept testing b) modifying the marketing mix c) re-branding d) modifying the product e) modifying the market

d) modifying the product

Bakeries and coffee bistros that offer pumpkin-flavored items only during the autumn season target their consumers primarily through ________ segmentation. a) psychographic b) demographic c) income d) occasion e) age and life-cycle

d) occasion

Which of the following includes the target segment of a product, the category to which the product belongs, and the product's point of difference from other members in the category? a) mission statement b) vision statement c) profit statement d) positioning statement e) inventory statement

d) positioning statement

Which of the following needs in Maslow's hierarchy is generally satisfied last? a) physiological b) social c) esteem d) self-actualization e) safety

d) self-actualization

Which of the following is an example of a shopping product? a) toothpaste b) fast food c) laundry detergent d) television e) candy

d) television

Which of the following is a desirable quality for a brand name? a) the name should be unique and difficult to pronounce to ensure legal protection b) the name should be a common word rather than a distinctive one c) the name should not suggest anything about the product quality d) the name should translate easily into foreign languages e) the name should not be expendable

d) the name should translate easily into foreign languages

Which of the following is a characteristic of an inside sales force? a) It travels to make sales calls on customers in the field b) It receives administrative backup from outside sales forces c) It cannot sell or service accounts directly d) It eliminates the need to have an outside sales force e) It conducts business from an office via telephone

e) It conducts business from an office via telephone

Which of the following is true of an exclusive dealing arrangement between a producer and a dealer? a) It prohibits the producer from selling outside the dealer's territory b) It prevents the producer from using any other dealer to sell its products regardless of geographical area c) It gives the producer's products more shelf power compared to a competitor's products being sold by the dealer d) It can be considered illegal if it increases competition substantially e) It does not allow other producers to sell to that dealer

e) It does not allow other producers to sell to that dealer

Howard Genks works as a sales representative for Med-Tex, a firm that manufactures hospital supplies. Recently, a prospective buyer walked into the Med-Tex store seeking beds for the children's ward in his private clinic. Howard quickly showed the client the range of beds available that were designed specifically for children. In which of the following steps of the selling process was Howard? a) Prospecting b) Qualifying c) Follow-up d) Handling objections e) Presentation and demonstration

e) Presentation and demonstration

Surf's Up, a family-owned business, offers a free surf lesson with the purchase of any surfboard over $200 during the month of May. This is an example of which promotion mix element? a) Direct and digital marketing b) Public relations c) Advertising d) Personal selling e) Sales promotion

e) Sales promotion

Grace and her fiance visit several furniture stores in and around their hometown of Milwaukee. They use their smartphones to capture information about manufacturers and pricing and ultimately decide to purchase their favorite items online. This is referred to as ______. a) Warehousing b) Wholesaling c) Retailing d) Franchising e) Show-rooming

e) Show-rooming

Which of the following is true of focus group discussions? a) they usually employ large samples b) consumers' facial expressions are hidden c) results can be easily generalized to an entire population d) the quantitative data can be evaluated quickly and economically e) consumers are not always honest and open about their opinions

e) consumers are not always honest and open about their opinions

Coolers Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To understand the market potential for the new drink and the demographics and attitudes of consumers who are likely to buy the product, Coolers should most likely use ________. a) exploratory research b) archival research c) causal research d) experimental research e) descriptive research

e) descriptive research

Which of the following is an example of an unsought product? a) furniture b) laundry detergent c) refrigerator d) toothpaste e) life insurance

e) life insurance

Bose promises "better sound through research." This is an example of ________. a) people differentiation b) channel differentiation c) price differentiation d) services differentiation e) product differentiation

e) product differentiation

Bass Pro Shops recognizes that outdoors enthusiasts are a diverse group. Likely segments include hunters, campers, and boaters. What is this segmentation method called? a) user status b) usage rate c) benefit d) behavioral e) psychographic

e) psychographic

Which of the following is true about the introduction stage of a new product? a) profits are typically high b) promotion spending is relatively low c) less money is needed to attract distributors d) companies tend to avoid basic versions of the product e) sales growth tends to be slow

e) sales growth tends to be slow

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup? a) the natural ingredients b) the Silkskin brand c) the products' revolutionary packaging d) the hypoallergenic properties of the products e) the desire for having beautiful eyes

e) the desire for having beautiful eyes

Harry Potts is a salesperson for a national pet food company. He meets Karen Sharp, a buyer for a large, specialty pet retailer, and speaks to her at length about the product categories and brands of pet food the retailer currently carries as well as future needs. At which step of the selling process is Harry Potts in the above scenario? a) Approach b) Pre-approach c) Qualifying d) Prospecting e) Closing

a) Approach

In which of the following promotion tools does a customer send a proof of purchase to a manufacturer, who then refunds part of the purchase price by mail? a) Rebate b) Coupon c) Sample d) Premium e) Price pack

a) Rebate

Food Galore is a regional chain of supermarkets in the Midwest. The primary role of the staff is to restock shelves and operate cash registers. Customers locate, compare, and select their groceries and other sundry items. Food Galore is most likely a _________. a) Self-service retailer b) Category killer c) Full-service retailer d) Supermarket e) Pop-up store

a) Self-service retailer

Which of the following media is most suitable for advertising a product that needs to be demonstrated? a) Television b) Radio c) Newspaper d) Magazine e) Billboard

a) Television

Delta, an American video game manufacturer, targets teens between the ages of 13 and 18, providing free game trials and applications. The firm's marketing approach exemplifies ________ segmentation. a) age and life-cycle b) geographic c) occasion d) gender e) income

a) age and life-cycle

Producers use marketing intermediaries because they ________. a) create greater efficiency in making goods available to target markets b) supply inexpensive raw materials for manufacturing products c) provide technical expertise for faster production d) monitor day to day activities during production e) form a part of the company's direct channel

a) create greater efficiency in making goods available to target markets

Which of the following is a social factor that influences consumer buying behavior? a) family b) life-cycle stage c) economic situation d) personality e) occupation

a) family

Kathy Jenkins is planning to conduct research on consumers' personal care routines. Since the questions are likely to be personal and sensitive, Kathy wants to select a contact method that will encourage respondents to answer honestly. Which of the following contact methods is most likely to serve Kathy's purpose? a) mail questionnaires b) telephone interviews c) individual interviews d) focus group interviews e) online discussions

a) mail questionnaires

The first generation Apple iPod was introduced in 2001 and sold for $500. The following year a mini version was introduced for $250. Apple initially used a ______ strategy to price their digital music innovation. a) market-skimming b) target costing c) deceptive d) market-penetration e) predatory

a) market-skimming

Rad, a manufacturer of luxury watches, charges a higher price for its products than its competitors. Despite the high prices, the brand is popular among customers for its quality and service in comparison to cheaper alternatives available in the market. In this case, Rad offers a(n) ________ value proposition. a) more-for-more b) more-for-the-same c) more-for-less d) all-or-nothing e) same-for-less

a) more-for-more

_______ is the only element in the marketing mix that produces revenue. a) price b) place c) promotion d) product e) profit

a) price

Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops? a) problem recognition b) general need description c) product specification d) product value analysis e) performance review

a) problem recognition

When Toyota announces a product recall on its Camry model due to a faulty igniter, they are using _____ to coordinate with dealers and car owners. a) reverse logistics b) outbound logistics c) inbound logistics d) inventory logistics e) disintermediation

a) reverse logistics

Which of the following statements about buying centers is true? a) the buying center is not a fixed and formally identified unit within a buying organization b) roles in the buying center are specified in the organizational chart of a firm c) the CEO of an organization is always the decision maker in a buying center d) an individual's role in a buying center does not change with time e) all buying centers involve formal participants

a) the buying center is not a fixed and formally identified unit within a buying organization

Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn promote the product to customers? a) Direct marketing b) A push strategy c) The publish-subscribe method d) A pull strategy e) Vertical integration

b) A push strategy

Leading "big-box" stores, such as Walmart and Target, now dominate the retail scene. However, even "small-box" stores like Dollar General, are thriving in the current economic environment. All three retailers are considered __________. a) Convenience stores b) Discount stores c) Full-service retailers d) Designer shops e) Specialty stores

b) Discount stores

GE employs different sales forces within different product and service divisions of its major businesses. For example, within GE Infrastructure, the company has separate sales forces for aviation, energy, transportation, and water processing products and technologies. GE has most likely adopted a _________ sales-force structure. a) Market b) Product c) Customer d) Territorial e) Complex

b) Product

Salespeople need to know how to _______ leads, that is identifying good leads and screening out poor ones, at the beginning of the selling process. a) Approach b) Qualify c) Consolidate d) Generate e) Manage

b) Qualify

_________ refers to the activities involved in selling products or services directly to final consumers for their personal, non-business use. a) Sole sourcing b) Retailing c) Manufacturing d) Procurement e) Warehousing

b) Retailing

In a marketing communications mix, _________ refers to any short-term incentive that encourages the purchase or sale of a product or service. a) Advertising b) Sales promotion c) Personal selling d) Crowdsourcing e) Public relations

b) Sales promotion

The manufacturer of Two-In-One, a combination shampoo and conditioner, shrink wraps a 4-ounce foil packet of a smoothing hair pomade to its combo product. Which of the following promotion tools is being used in this case? a) Rebates b) Samples c) Coupons d) Advertising specialties e) Price packs

b) Samples

A _______ refers to a group of retail businesses built on a site that is planned, developed, owned, and managed as a unit. a) Pop-up store b) Shopping center c) Warehouse d) Category killer e) Convenience store

b) Shopping center

Which of the following types of differentiation is used to gain competitive advantage through the way a firm designs its distribution coverage, expertise, and performance? a) services differentiation b) channel differentiation c) people differentiation d) product differentiation e) price differentiation

b) channel differentiation

Los Amigos, a new Mexican restaurant, has set up shop across the street from Hot Tamales and More. Which of the following pricing strategies will Los Amigos likely use? a) cost-plus b) competition-based c) break-even d) good-value e) target-costing

b) competition-based

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. a) types of decisions b) derived demand c) market structure d) the decision process e) nature of the buying unit

b) derived demand

Port Orleans Shipping markets different services to the tourism, defense, and trade segments. The firm designs separate offers for each segment based on their needs. This approach is called ________ marketing. a) concentrated b) differentiated c) individual d) mass e) local

b) differentiated

Changes in technology and the explosive growth of direct and online marketing are having a profound impact on the nature and design of marketing channels. One major trend is toward _______ insofar as product or service producers cut out intermediaries and go directly to final buyers or when radically new types of channel intermediaries displace traditional ones. a) intermediation b) disintermediation c) vertical marketing systems d) horizontal marketing systems e) corporate vertical marketing systems

b) disintermediation

The objective of ________ research is to gather preliminary information that will help define the problem and suggest hypotheses. a) descriptive b) exploratory c) causal d) corrective e) experimental

b) exploratory

Safari Unlimited recently conducted national research to generate ideas for a new line of fatigues geared to women. The company uncovered a number of ideas about clothing and accessory preferences as well as important benefits such as built-in sunblock and durability. The Safari Unlimited product development team will most likely use ________ next to arrive at a realistic number of products for the new fatigues line. a) crowd-sourcing b) idea screening c) concept testing d) concept development e) business analysis

b) idea screening

Inglast, a chocolate producer, is faced with a class action suit when customers find pieces of plastic in boxes of cocoa powder. Inglast settles the case and then releases an advertising campaign to show the new and improved safety seals on all containers of cocoa powder. Which kind of advertisement has Inglast most likely used? a) classified b) informative c) comparative d) personalized e) reminder

b) informative

In which stage of the product life-cycle will promotional expenditures be significantly high in an attempt to create consumer awareness of a product and its features? a) product development b) introduction c) growth d) maturity e) adoption

b) introduction

The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________. a) market-skimming pricing b) market-penetration pricing c) value-added pricing d) target costing e) deceptive pricing

b) market-penetration pricing

______ is the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization. a) test marketing b) marketing research c) commercialization d) integrated marketing e) exclusive distribution

b) marketing research

Doggie World concept tested an idea for a new chew toy that would entertain dogs while simultaneously cleaning their teeth. Dog owners were pleased with the results. The next stage in developing the new product concept is ________. a) idea screening b) marketing strategy development c) business analysis d) product development e) test marketing

b) marketing strategy development

Computer World sells laptops separately from accessory products like docking stations, anti-virus software, and external hard drives. This is referred to as ________ pricing a) product bundle b) optional-product c) market-penetration d) by-product e) product line

b) optional-product

Salon Du Jour offers special combination packages at a reduced price. Separately, a haircut is $30 and a conditioning treatment is $35. But the combo price is $50. This is referred to as ________ pricing. a) by-product b) product bundle c) captive-product d) optional-product e) product line

b) product bundle

Clorox sells five major product lines including cleaning, household, lifestyle, professional, and international. Together the product lines make up Clorox's ________. a) product length b) product mix c) product depth d) product consistency e) product assemblage

b) product mix

the national tree company offers resellers half-price reductions on artificial Christmas trees if they purchase them in july. this is an example of a _______. a) functional discount b) seasonal discount c) promotional allowance d) trade-in allowance e) quantity discount

b) seasonal discount

Hallmark's classic "When you care enough to send the very best" slogan appeals to which need category in Maslow's hierarchy? a) physiological b) social c) esteem d) self-actualization e) safety

b) social

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience post-purchase dissonance? a) the price of the Honda Accord increases by a huge margin b) the price of the Toyota Camry falls due to an increase in demand c) the Honda Accord meets all her expectations and satisfies her needs d) the Toyota Camry experiences technical failures that lead to a recall e) The maintenance costs of the Honda Accord decrease significantly over time

b) the price of the Toyota Camry falls due to an increase in demand

Consistency of a product mix refers to the ________. a) number of versions offered for each product in the line b) ways in which the various product lines are related c) number of different product lines a company carries d) total number of items a company carries within its product lines e) total market share captured by the entire product line

b) ways in which the various product lines are related

A firm has a huge amount of individual customer data saved in different databases. Which of the following can be used to integrate, analyze, and apply the available information effectively? a) online market research tools b) integrated marketing systems c) CRM systems d) internal survey methods e) quality assurance tools

c) CRM systems

Office Solutions is a large retailer that specializes in office products and services. Their offerings include a wide and deep assortment of computers, desk furniture, printers, office supplies, stationary, and printing. Office Solutions is most likely an example of a ________. a) Convenience store b) Pop-up store c) Category killer d) Lifestyle center e) Supermarket

c) Category killer

Mind and Body Fitness recently entered into a financial agreement that allows 25 independent business people at select locations across the country to set up establishments that offer its holistic services and programs. They include weight-management, group programming, sport-specific training, yoga, Pilates, and nutrition. Which type of contractual retail association does this represent? a) Corporate chain b) Voluntary chain c) Franchise organization d) Independent retailer e) Retailer cooperative

c) Franchise organization