MRKTG Test 4 study guide

Barry customizes Harley-Davidson motorcycles. No two cycles are alike. He notices that very few customers even ask the price of his motorcycles before they decide to purchase them. Demand for his motorcycles is probably: A price sensitive B. price elastic C. price inelastic

C. price inelastic

When Delta increases its average fares, American Airlines and United often follow with similar increases. This is an example of: A. competitor orientation B. customer orientation C. status quo pricing

C. status quo pricing

15. One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's A. conversion rate. B. extended network. C. bounce rate. D. hits. E. click paths.

A. conversion rate.

5. Gene's Complete Cameras offers its customers an interactive website to help them choose the best camera for their lifestyle. But the site's most-used feature is its user blog in which customers—both satisfied and unsatisfied—talk about products they have purchased and the service received at Gene's. The user blog best describes which of the 4E frameworks for the store's customers? A. engage B. energize C. excite D. experience E. educate

A. engage

Generally, when advertising to consumers, the objectives of advertising campaign is: A. a pull strategy- to get the product into stores by having consumers demand it B. a push strategy- to stimulate interest among members of the supply chain C. to offset sales promotion costs

A. a pull strategy- to get the product into stores by having consumers demand it

Several months ago, Veronica took over the sales territory managed by a very successful salesperson. Veronica should use ____________ as a first source of leads. A. current customers B. chamber of commerce gatherings C. trade shows D. census data

A. current customers

Derek just posted an entry in his blog talking about how happy he is with his new GoPro camera. In the blog he also posted videos that he took with the camera. As a customer of the product, which facet of the 4E framework for social media is Derek most exhibiting? A. engagement B. energizing C. excitement D. experiencing E. educating

A. engagement

The 4E framework of social media includes A. excite, educate, experience, engage. B. excite, educate, entertain, engage. C. expand, engage, educate, emphasize. D. emphasize, excite, educate, engage. E. expect, emphasize, educate, engage.

A. excite, educate, experience, engage.

Chesnee works in the office of a building materials company. One of her jobs is to identify new building projects and to determine who will make the building materials purchase decisions. Chesnee is involved in the _____________ step of selling process. A. generate leads B. preapproach C. closing the sale

A. generate leads

Price skimming focuses on selling products to __________ and __________ in the consumer adoption process model. A. innovators; early adopters B. early adopters; the early majority C. the early majority; the late majority

A. innovators; early adopters

11. Lauren decides to use Twitter to market her hand-painted scarves to other women on her campus. She sets up a Twitter account with the name @uniquedesignsbylauren and posts this on her Facebook page, making sure to tweet every few days. Soon Lauren is selling a lot of scarves. Lauren's Twitter account is an example of A. microblogging. B. media sharing. C. thought sharing. D. professional networking. E. social bookmarking.

A. microblogging.

Mario is the first retailer in town to sell games for Sony's new PlayStation gaming console. Mario wants to quickly capture as much of the market for the new games as possible. Mario will likely use a __________ pricing strategy. A. penetration B. bundling C. price fixing

A. penetration

LinkedIn is an example of which type of social media site? A. social networking B. media sharing C. thought sharing D. photo sharing E. corporate

A. social networking

19 When developing a social media campaign, what is unique about the copy and images to be used that is more critical with social media that other forms of IMC? A. They need to be humorous. B. They need to be updated almost constantly. C. They need to feature only young actors. D. They must appear only in color (not black and white). E. They must appeal to a diverse, multicultural audience.

B. They need to be updated almost constantly.

18. What type of analytic is used to understand what's popular and what's not on a firm's website, including page load times and site navigation? A. social B. content C. mobile D. conversion E. advertising

B. content

Whenever the major beverage companies develop a new product, they advertise it heavily using television and print media. These efforts are designed to A. generate goodwill for the company B. pull the product into retail stores through consumer demand C.signal strategy changes to market competitors

B. pull the product into retail stores through consumer demand

16. Suppose that Burger King wanted to evaluate social media content to find out how well its most recent advertising campaign was being received by consumers. This could be done using A. Google Analytics. B. sentiment analysis. C. click path analysis. D. keyword analysis. E. bounce rate.

B. sentiment analysis.

If your company hired you to make sales calls via telephone, it hired you to perform A. cold calling B. telemarketing C. relationship selling D. inbound marketing

B. telemarketing

Generally speaking, all advertising messages are designed to: A. meet the needs of society B.inform, persuade, or remind customers C.comply with FCC rules combined with FTC antitrust regulations

B.inform, persuade, or remind customers

All of the following statements about public relations are true except: A.PR has become increasingly important as costs of other forms of marketing communications continue to increase B. media coverage generated by PR is seen as more credible than paid advertising C. because of its high cost, the use of PR has waned in recent years

C. because of its high cost, the use of PR has waned in recent years

8. Trina is developing a marketing campaign for an organic stain-removal product. As "stain removal" is rather dull, she is trying to educate consumers about the value and uniqueness of the product, and appeal to the environmentally conscious. Which of the following is the best social media application for this task? A. YouTube B. LinkedIn C. blog D. Instagram E. Google+

C. blog

17. Despite its vivid design, the website for Lolly's Bookstore did not seem to attract customers who lingered. In fact, most website visitors left the site before they made a purchase. Which measure does the owner need to address? A. sentiment analysis B. page views C. bounce rates D. keyword analysis E. mobilization rates

C. bounce rates

The point at which the number of unit sold generates enough revenue to equal the total costs of running an operation is known as the: A. contribution per unit B. fixed cost margin C. break-even point D. unit cost

C. break-even point

Although a sales representative may skip a step in the professional selling process or might sometimes have to go back and repeat steps, there is logic in the sequence. All of the following describe the personal selling process except: A. before a salesperson can work through the preapproach, leads must be qualified B. the customer's reservations must be addressed before closing the sale C. closing the sale is the final- and most satisfying- part of the process

C. closing the sale is the final- and most satisfying- part of the process

6. Individuals achieve the _____________ effect when they check in, post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook. A. media B. information C. connected D. social E. interconnected

C. connected

Yvonne estimates the average cost of her floral arrangements is $14 regardless of whether she is doing 5 or 20 arrangements that day. She adds a standard markup to the $14 estimate to determine her price. Yvonne is using a(n) __________ pricing method. A. improvement value B. value-based C. cost-based D. EDLP

C. cost-based

3. A Groupon offer for discounted theater tickets was sent to targeted customers who had previously purchased movie or theater tickets. This best describes which of the 4E frameworks? A. engage B. energize C. excite D. experience E. educate

C. excite

Trade shows are a particularly good source of B2B sales leads because: A. they are open to the general public B. they are almost always sanctioned by the government C. people who are interested in the products and services being offered.

C. people who are interested in the products and services being offered.

14. Jordan loves to read and write. She started a blog about books, including writing hints and book reviews. The readership of her blog gradually increased, and eventually publishers started sending her new books, hoping she would review them. Over time, Jordan's blog has changed from a __________ blog to a __________ blog. A. professional; network B. professional; personal C. personal; professional D. personal; social E. social; network

C. personal; professional

13. Suppose that Nike wanted to use Facebook to increase awareness of a new line of tennis shoes. Which of the following methods would allow Nike to specifically target Facebook users who have mentioned tennis in their profiles? A. uploading a coupon to the Nike fan page B. encouraging Facebook users to "like" the Nike page so their friends will see this action C. placing a Facebook ad D. creating a Facebook tab allowing users to view the tennis clothing within Facebook E. placing a Facebook link on the Nike corporate website

C. placing a Facebook ad

12. What is Google+? A. an experimental, advanced search engine B. a website where users can work together to create documents C. a site offering analytical information about website usage D. a social networking site E. a video-sharing site intended for businesses

D. a social networking site

21. It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of social media, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? A. engage B. energize C. excite D. experience E. educate

D. experience

4. It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of social media, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework? A. engage B. energize C. excite D. experience E. educate

D. experience

The __________ occurs when unit cost drops as the quantity sold increases. A. slotting allowance benefit B. price fixing return C. improvement value effect D. experience curve effect

D. experience curve effect

Unlike product, promotion, or place, price is the only part of the marketing mix A. that offers the opportunity for the oligopoly B.that is subject to gray market manipulation C. that leads to competition D. generates the revenue

D. generates the revenue

10. Instagram is an example of which type of social media site? A. microblogging B. social networking C. thought sharing D. media sharing E. social bookmarking

D. media sharing

Sales representatives add value for customers by doing all of the following except: A. educate them about the firm's products B. providing advice on solving business problems C. saving them time D. reducing the firm's marketing costs

D. reducing the firm's marketing costs

20. While waiting in line to make a purchase at Best Buy, Joanie sees signs reminding her to visit the company's website for online specials and to sign up on her smartphone for the Best Buy Loyalty Rewards Program. Others signs remind her that Best Buy will match competitors' prices on any item they sell. This is an example of which 4E framework? A. engage B. energize C. excite D. experience E. educate

E. educate

22. The elements of the social media engagement process are A. listening, reacting, and correcting. B. exciting, listening, and doing. C. analyzing, developing, and engaging. D. listening, engaging, and evaluating. E. listening, analyzing, and doing.

E. listening, analyzing, and doing.

7. The elements of the social media engagement process are A. listening, reacting, and correcting. B. exciting, listening, and doing. C. analyzing, developing, and engaging. D. listening, engaging, and evaluating. E. listening, analyzing, and doing.

E. listening, analyzing, and doing.