Exam 2 MGKT 301

Related party trade is defined as the trade relationship between: a. countries with free trade agreements. b. member countries of a customs union. c. two companies in the same industry. d. a corporation and its overseas subsidiaries.

A corporation and its overseas subsidiaries.

The United States is the world's largest exporter of _____. a. services b. crude oil c. consumer electronics d. passenger cars

A. Services

Which of the following comes closest to providing a pure good? a. A company that manufactures elevators b. A laundry c. A fitness gym d. An advertising agency

a. A company that manufactures elevators

Which of the following is a marketing intermediary who may or may not take possession of the goods but never takes title? a. Agent b. Wholesaler c. Retailer d. Industrial distributor

a. Agent

Which of the following products is most likely to achieve the status of brand insistence? a. Cars b. Soaps c. Milk d. Toothpastes

a. Cars

Richard generally frequented Brewz, a coffeehouse chain, when he was in Florida. However, when his company transferred him to China, he found that the Brewz in Shanghai does not offer the same quality service as their coffee houses in Florida. Which of the following best explains this differential perception in service quality? a. Companies cannot easily standardize services. b. Buyers often play important roles in the creation and distribution of services. c. Services are perishable and intangible. d. Providers cannot make inventories of their services.

a. Companies cannot easily standardize services.

Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas? a. Globalization b. Developing core values c. Market penetration d. Product standardization

a. Globalization

Which of the following is true of the practice of homeshoring? a. It reduces a company's spending on health care. b. It increases a company's spending on supplies. c. It increases the amount of energy consumed by the company. d. It increases a company's impact on the environment.

a. It reduces a company's spending on health care.

_____ marketing is the development, growth, and maintenance of cost-effective, high-value associations with individual customers, suppliers, and other partners over time. a. Relationship b. Transaction-based c. Substitutive d. Associative

a. Relationship

_____ typically have a long marketing channel. a. Standardized products b. Perishable products c. Complex products d. Expensive products

a. Standardized products

At the _____ stage of brand loyalty, marketers use advertising as a means to increase consumer awareness of a brand. a. brand recognition b. brand preference c. brand insistence d. brand equity

a. brand recognition

Consumer goods such as soap, milk, and deodorants are generally classified as _____ products. a. convenience b. utilitarian c. shopping d. specialty

a. convenience

ABC Corp., a mining equipment manufacturer, provides loaders and feeder breakers for Ground Works, a mining company. ABC Corp. regularly sends information on new products as well as on upgrades for old products to the management in Ground Works. ABC Corp relies on _____ to sell its products. a. direct channels b. industrial distributors c. manufacturer's representatives d. franchisers

a. direct channels

The movement of goods and services from producers to customers is called _____. a. distribution b. promotion c. production d. valuation

a. distribution

Dell manufactures and markets computers and several related products, such as laptops, desktops, notebooks, and printers, all under the Dell name. These products are examples of _____ brands. a. family b. captive c. individual d. private label

a. family

_____ brand refers to a brand name owned by a manufacturer or a producer. a. private b. generic c. national d. captive

a. private

Which of the following is most likely to be categorized as a consumer product as well as a business product? a. Natural gas b. Iron ore c. Concrete mixers d. Agriculture produce

d. Agriculture produce

Walmart is evaluating its performance records of the previous years that are stored in its database. In addition to this, the company is also evaluating its previous year invoices. This evaluation process carried out by firms is called _____. a. sales analysis b. financial iteration c. market capitalization d. interpretative research

a. sales analysis

Penelope is using data collected and published by a trade association in her marketing research study. The data used by Penelope can be regarded as _____. a. secondary data b. primary data c. raw data d. experimental data

a. secondary data

In the context of relationship marketing, the primary bond created by a second-level relationship marketing program is usually _____ in nature. a. social b. financial c. structural d. notional

a. social

The determination of whether pencils are consumer products or business products is based on: a. the purpose for which the pencils are purchased. b. the number of pencils purchased. c. the place where the pencils are purchased. d. the total price paid for the pencils.

a. the purpose for which the pencils are purchased.

upermarkets usually display items such as candies, gums, and magazines near the checkout counter because: a. they tend to be purchased on the spur of the moment. b. they can be replenished easily on short notice. c. of the prestige associated with their ownership. d. they are closely evaluated prior to purchase.

a. they tend to be purchased on the spur of the moment.

A consumer goods company is trying to develop a relationship with its customers by implementing marketing strategies that focus on developing interdependence between the company and its customers. These marketing strategies indicate that the company is at the _____ level of relationship marketing. a. third b. second c. first d. fourth

a. third

Products marketed to consumers who may not yet recognize a need for them are called _____ products. a. unsought b. impulse c. convenience d. specialty

a. unsought

Peach, a cosmetic company, sells its products only through some independent representatives. To buy a Peach product, customers will have to contact a representative and place an order for the products they need. This information indicates that Peach: a. uses a direct selling strategy. b. relies on channel captains to sell its products. c. employs category managers to sell its products. d. uses truck jobbers to sell its products.

a. uses a direct selling strategy.

Which of the following functions as a manufacturer's representative? a. An industrial distributor b. A broker c. A wholesaler d. A retailer

b. A broker

Which of the following products is most likely to have a long distribution channel? a. Mining equipments b. Bars of soap c. Dairy products d. Drinks sold in a vending machine

b. Bars of soap

Which of the following marketing exchanges is most likely to be transaction-based? a. Golf club membership b. Buying property from a real estate agent c. Medical care for a person with a chronic illness d. Annual service contract with a lawn and garden company

b. Buying property from a real estate agent

Which of the following is true of convenience products? a. Consumers generally don't have prior need recognition of convenience products before purchasing them. b. Consumers generally tend to purchase convenience products immediately and with minimal effort. c. Consumers tend to buy convenience products after a long-term evaluation of competing products in the market. d. Consumers tend to buy convenience products because of the prestige associated with their ownership.

b. Consumers generally tend to purchase convenience products immediately and with minimal effort.

_____ refers to the movement of products through more than one channel to reach the firm's target market. a. Direct channeling b. Dual distribution c. Selective channeling d. Exclusive distribution

b. Dual distribution

he ISO certification ensures that a company's goods, services, and operations meet established quality levels. Here ISO stands for _____. a. Industrial Specifications Organization b. International Organization for Standardization c. Intermediary Services Organization d. Industrial Organization for Services

b. International Organization for Standardization

Which of the following factors is most likely to be included in political environment? a. Inflation levels in different countries b. Labor conditions in different countries c. Exchange rate fluctuations in a country d. Level of natural resources in a country

b. Labor conditions in different countries

Which of the following serves as a source of internal data for a firm involved in marketing research? a. Syndicated service firm reports b. Marketing cost analysis c. Census data d. Business and trade magazines

b. Marketing cost analysis

Which of the following terms refers to the process of collecting and using information for marketing decision making? a. Market engineering b. Marketing research c. Market capitalization d. Marketing sampling

b. Marketing research

Which of the following industries makes the largest contribution to the United State's gross domestic product? a. Automobile industry b. Service industry c. Oil industry d. Manufacturing industry

b. Service industry

Which of the following is true of services? a. Services are tangible. b. Services are inseparable from service providers. c. Companies can easily standardize services. d. Services are nonperishable.

b. Services are inseparable from service providers

Which of the following is a basic requirement for effective market segmentation? a. The firm must avoid focusing on consumer-dependent variable, such as discretionary income, while conducting market segmentation. b. The market segment must present measurable purchasing power and size. c. The company must expand beyond its marketing capabilities to capture those market segments that have reached the maturity stage in the product life cycle. d. The company must target a large number of small market segments so that they can develop effective strategies to appeal to them.

b. The market segment must present measurable purchasing power and size.

_____ is the largest metropolitan area in the world. a. New York b. Tokyo c. Mexico City d London

b. Tokyo

The fluctuation in exchange rates results in: a. a country employing additional tariffs and quotas on imports to manage fluctuations. b. a nation's currency becoming more or less valuable compared with those of other nations. c. the possibility of an economy reaching short-run equilibrium at levels below or above full employment. d. a relatively rapid economic growth and periods of relative stagnation or decline.

b. a nation's currency becoming more or less valuable compared with those of other nations.

The _____ stage in brand loyalty leads consumers to refuse alternatives and search extensively for the desired merchandise. a. brand recognition b. brand insistence c. brand awareness d. brand preference

b. brand insistence

The lumber that a carpenter purchases to make a table for a customer can be classified as a(n): a. impulse product. b. business product. c. consumer good. d. final product.

b. business product.

When a product is used in the production of another good that is destined for resale, the product is considered as a(n): a. consumer product. b. business product. c. end product. d. used product.

b. business product.

Japanese automaker, Subaru, generates more than half of its sales in just four states (Alaska, Colorado, Maine, and Washington). These states constitute Subaru's: a. primary market. b. core region. c. secondary market. d. capital region.

b. core region.

Socioeconomic market segmentation is another name for _____ segmentation. a. product-related b. demographic c. psychographic d. geographic

b. demographic

The most common method of market segmentation is: a. product based segmentation. b. demographic segmentation. c. economic segmentation. d. psychographic segmentation.

b. demographic segmentation.

A fast food restaurant is offering various meal options at discounted prices to attract new customers. This marketing effort indicates that the company is at the _____ level of relationship marketing. a. third b. first c. fourth d. second

b. first

After defining the problem and conducting an exploratory investigation, the next step in the marketing research process is to: a. create a research design. b. formulate a hypothesis. c. select the respondents for the study. d. gather primary and secondary data.

b. formulate a hypothesis

Kate believes the reason the sales of one of her company's products has fallen is due to a price increase. She cites sales from the previous year to the same customers as evidence of declining sales. Kate is: a. developing a research design. b. formulating a hypothesis. c. identifying a symptom. d. conducting exploratory research.

b. formulating a hypothesis.

St. Ives and Dove beauty products, marketed by Unilever, are examples of _____ brands. a. family b. individual c. generic d. captive

b. individual

A nation's size, per-capita income, and stage of economic development determine its prospects as a host for _____. a. regional economic integration b. international business expansion c. free trade association d. public private partnership

b. international business expansion

Marketers acknowledge a broader conception of product; they realize that people buy want satisfaction. Using this broad concept, a television set is a(n): a. obsolete technology in comparison with the Internet. b. means of providing entertainment. c. lucrative item for appliance stores. d. machine used to receive broadcast signals.

b. means of providing entertainment.

A nation's basic system of transportation networks, communication systems, and energy facilities form a part of its _____ environment. a. social b. political c. legal d. economic

b. political

The information collected for the first time specifically for a marketing research study is called _____ data. a. qualitative b. primary c. processed d. secondary

b. primary

A _____ is an urbanized county or set of counties with social and economic ties to nearby areas. a. consolidated micropolitan statistical area b. primary metropolitan statistical area c. core based statistical area d. consolidated metropolitan statistical area

b. primary metropolitan statistical area

At the second level of relationship marketing, the focus is on: a. price and other financial incentives. b. reaching out to the customer with social interaction. c. structurally transforming the relationship into an interdependent partnership. d. analyzing data from the initial purchase to determine the chance of a repeat sale.

b. reaching out to the customer with social interaction

Cannondale Bicycles has a customers' group called "The Chain Gang." Members receive emails listing cycling- related tips, as well as access to a special website dedicated to cycling. In the context of the relationship marketing continuum, this is an example of the _____ level of relationship marketing. a. first b. second c. fifth d. fourth

b. second

Distributors adjust for discrepancies in the market's assortment of goods and services through a process known as _____. a. benchmarking b. sorting c. diffusing d. social referencing

b. sorting

An organization that regularly provides a standardized set of data on a periodic basis to its subscribers is called a ______. a. full-service research supplier b. syndicated service c. supplier relationship management company d. market simulation firm

b. syndicated service

Many of the eastern European currencies are considered as soft currencies because: a. they do not depreciate against other currencies. b. they cannot be readily converted into euros or dollars. c. they provide long-term stability in terms of its purchasing power. d. they serve as a reliable store of value. ANSWER: b

b. they cannot be readily converted into euros or dollars

A(n) _____ is an intermediary that takes title to the goods it handles and then distributes these goods to retailers, other distributors, or sometimes end consumers. a. agent b. wholesaler c. broker d. drop shipper

b. wholesaler

With reference to relationship marketing, which of the following is an example of a typical third-level relationship marketing program? a. A health-awareness campaign organized by a food-supplement manufacturer b. A frequent flyer program introduced by an airline c. A courier company enabling its users to track the status of their deliveries on its website d. A company offering a product at a discounted price

c. A courier company enabling its users to track the status of their deliveries on its website

Which of the following marketing intermediaries will most economically cover the markets for products sold in small units? a. A manufacturer's representative b. A drop shipper c. A merchant wholesaler d. A broker

c. A merchant wholesaler

_____ are goods and services purchased for use either directly or indirectly in the production of other goods and services for resale. a. Impulse goods b. Shopping goods c. Business products d. Unsought products

c. Business products

Jake is determining which customers should be included in a study sample. According to this information, Jake is in which stage of the marketing research process? a. Formulating a hypothesis b. Collecting data c. Creating a research design d. Defining a problem

c. Creating a research design

Which of the following products would generally be considered as a staple? a. Lawn mower b. Laptop c. Dishwashing liquid d. Luxury perfume

c. Dishwashing liquid

Which of the following is most likely to be a logical starting point in identifying the marketing problem? a. Ascertaining the budget and logistical limits that the problem warrants b. Determining the computational scope of the problem c. Evaluating the firm's target market and marketing mix elements d. Simulating a market research based on formulated hypotheses

c. Evaluating the firm's target market and marketing mix elements

Which of the following categories of organizations is most likely to have the longest distribution channel? a. Firms producing B2B products b. Not-for-profit organizations c. Firms producing nonperishable consumer goods d. Service firms

c. Firms producing nonperishable consumer goods

_____ are computer systems that help marketers analyze marketing information by assembling, storing, manipulating, and displaying data by their location. a. Core based information systems b. Inertial navigation systems (INS) c. Geographic information systems (GIS) d. Advanced navigation assessment systems

c. Geographic information systems (GIS

A firm that divides its customers into homogeneous groups based on their locations is said to be practicing _____ segmentation. a. psychographic b. product-based c. geographic d. demographic

c. geographic

Which of the following is true of relationship marketing? a. It focuses on short-term, one-time exchanges with limited communications. b. Its only goal is "sell something—now." c. It views customers as equal partners in buyer-seller transactions. d. It involves little or no ongoing relationship between the buyers and sellers.

c. It views customers as equal partners in buyer-seller transactions.

Which of the following is most likely to be the primary factor that attracts a consumer to a generic product? a. Package design b. Brand name c. Low price d. Product quality

c. Low price

_____ is the most frequently spoken language in the world. a. English b. Spanish c. Mandarin d. Hindi

c. Mandarin

Which of the following industries has seen a steady growth in the United States in the recent years with nearly 80 percent of Americans now working in it? a. Agriculture b. Manufacturing c. Service d. Automobile

c. Service

Motels and luxury hotels cater to the same want satisfaction-a place to stay. However, their respective guests have considerably different expectations of service. Which of the following characteristics of services best represents these different expectations in service? a. Services are intangible. b. Companies cannot easily standardize services. c. Service standards show wide variations. d. Services are perishable.

c. Service standards show wide variations.

Christopher who is a hair stylist owns Curlz, the best salon in Los Angeles. The clients swear by Christopher, and brides and bridesmaids flock to him for all weddings in LA. Christopher's name has become synonymous with the service at Curlz. Which of the following characteristics of services best explains this association? a. Companies cannot easily standardize services. b. Service standards show wide variations. c. Services are inseparable from the service providers. d. Services are perishable and intangible.

c. Services are inseparable from the service providers.

Which of the following factors is most likely to be associated with a short marketing channel? a. The products require little or no technical knowledge and servicing. b. Manufacturer lacks adequate resources to perform channel functions. c. The products are perishable. d. Manufacturer serves a geographically dispersed potential trade area.

c. The products are perishable.

Which of the following is true of the role of distribution channels in a firm's marketing strategy? a. They complicate the exchange process by increasing the number of marketplace contacts necessary to make a sale. b. They lead to discrepancies in the market's assortment of goods and services between the producers and the buyers. c. They standardize exchange transactions by setting expectations for products including the transfer process itself. d. They deter the buyers' search for specific goods to fill their needs, as well as the sellers' attempt to learn what buyers want.

c. They standardize exchange transactions by setting expectations for products including the transfer process itself.

Which of the following firms is ranked as the world's largest marketer in terms of annual sales? a. General Electric b. ExxonMobil c. Walmart d. Royal Dutch Shell

c. Walmart

Nations with low per-capita incomes are usually good markets for: a. automobiles and electronics. b. expensive industrial machinery. c. agricultural hand tools. d. luxury goods.

c. agricultural hand tools.

Financial Services Inc. had call centers in Malaysia where employees worked in shifts to cater to American customers at all times. However, after receiving persistent complaints about unsatisfactory service quality and increasing inefficiency, the organization decided to shift the call centers to the United States again. This is an example of: a. outsourcing. b. onshoring. c. backshoring. d. homeshoring.

c. backshoring

Consumers at the _____ level of brand loyalty, rely on previous experiences with the product when choosing it, if available, over competitors' products. a. brand awareness b. brand association c. brand preference d. brand recognition

c. brand preference

Liz Lange maternity wear and Shaun White's apparel for boys are sold exclusively at Target. These brands are examples of _____ brands. a. private b. national c. captive d. exclusive

c. captive

Goods and services purchased by the ultimate consumer for personal use are called _____ products. a. business b. primary c. consumer d. secondary

c. consumer

he main objective of internal marketing programs is to: a. share resources with business partners. b. encourage employees to view each other as competitors. c. create satisfied employees. d. facilitate a vertical integration.

c. create satisfied employees.

Transaction-based marketing differs from relationship marketing as transaction-based marketing: a. ranks customer service as a high priority. b. encourages frequent customer contact. c. emphasizes on individual sales rather than long-term relationships. d. views customers as equal partners in buyer-seller transactions.

c. emphasizes on individual sales rather than long-term relationships.

The process of discussing a marketing problem with informed sources both within and outside the firm and examining information from secondary sources is known as _____. a. situation analysis b. informal investigation c. exploratory research d. interpretative research

c. exploratory research

A _____ helps the marketers in conducting marketing research by performing all the steps in the marketing research process. a. limited service research supplier b. customer relations managing firm c. full-service research supplier d. syndicated service

c. full-service research supplier

Douglas Knowles & Howe, a marketing research firm, contracts with clients to conduct complete marketing research projects, including telephone and online interviews. DK&H is a _____. a. syndicated service b. limited service c. full-service research supplier d. customer relationship management firm

c. full-service research supplier

Technology presents challenges for global marketers that extend beyond the Internet and other telecommunications innovations. A major technological issue involving food marketers is _____. a. value engineering b. reverse engineering c. genetic reengineering d. business process reengineering

c. genetic reengineering

92. The marketing programs at the third level of relationship marketing usually aim to create: a. social interaction. b. financial interaction. c. interdependent partnership. d. viral advertising.

c. interdependent partnership.

Managerial actions that enable all members of an organization to understand, accept, and fulfill their respective roles in implementing marketing strategy are collectively referred to as _____. a. social referencing b. social loafing c. internal marketing d. strategic positioning

c. internal marketing

The division of the total market into smaller, homogenous groups is called _____. a. customer aggregation b. market capitalization c. market segmentation d. brand segmentation

c. market segmentation

The Fayetteville-Springdale-Rogers region of Arkansas has approximately 340,000 people. Fayetteville is an urban center and it alone has a population of 60,000. The Fayetteville-Springdale-Rogers region would be classified as a: a. consolidated metropolitan statistical area (CMSA). b. primary metropolitan region (PMR). c. metropolitan `statistical area (MSA). d. micropolitan statistical area (μSA).

c. metropolitan statistical area (MSA).

A bundle of physical, service, and symbolic attributes designed to satisfy a customer's wants and needs is referred to as a(n) _____. a. byproduct b. construct c. product d. cluster

c. product

Trade between U.S. companies and their subsidiaries or between U.S. subsidiaries of foreign-owned firms is referred to as: a. multilateral trade. b. mutual trade. c. related party trade. d. bilateral trade.

c. related party trade.

The marketing efforts at the first level of relationship marketing: a. treat the buyers as true business partners while marketing products. b. focus on effective communication and customer service for the products. c. rely on pricing and other financial incentives to motivate consumers to buy products. d. focus on creating long-term buyer relationships

c. rely on pricing and other financial incentives to motivate consumers to buy products.

A company trying to engage in a social interaction with the customers is at the _____ level of relationship marketing. a. first b. third c. second d. fourth

c. second

A product is said to have achieved brand preference when: a. the product becomes familiar to the consumer. b. the marketers start selling the product at a discount. c. the consumer sees or recognizes the product and chooses it over its competitors. d. the product has attained monopoly position with its customers.

c. the consumer sees or recognizes the product and chooses it over its competitors.

Firms conduct marketing cost analysis to determine: a. the appropriate levels of market capitalization. b. the current levels of corporate assets and liabilities. c. the profitability of certain customers, territories, or product lines. d. the marketing strategies of its competitors.

c. the profitability of certain customers, territories, or product lines

Which of the following comes closest to providing pure service? a. A retail store b. An automobile dealership c. A coffee shop d. A fitness gym

d. A fitness gym

In the context of the levels of relationship marketing, which of the following is an example of a level 1 relationship marketing program? a. An electronics firm setting up a worldwide technical support system to assist customers. b. A cheese shop organizing a cooking contest for customers. c. An automobile company offering a club membership to owners of high-end cars. d. An airline offering special discounts to its customers for early bookings.

d. An airline offering special discounts to its customers for early bookings.

Which of the following products forms a major part of U.S imports? a. Agricultural products b. Iron ore c. Medical equipments d. Crude oil

d. Crude oil

_____ defines consumer groups according to variables such as gender, age, income, occupation, education, sexual orientation, household size, and stage in the family lifecycle. a. Geographic segmentation b. End-use segmentation c. Product-based segmentation d. Demographic segmentation

d. Demographic segmentation

In addition to traditional drug stores, Dr Scholl's foot care company sells its products through convenience stores as well as through telemarketing to podiatrists. Which of the following is being employed by Dr Scholl's foot care company to sell its products? a. A reverse channel b. Exclusive distribution c. A direct channel d. Dual distribution

d. Dual distribution

Which of the following is a characteristic of transaction-based marketing? a. Frequent customer contact b. Emphasis on long-term relationship c. Customer interactions based on commitment and trust d. Emphasis on individual sales

d. Emphasis on individual sales

Which of the following is an important goal of internal marketing? a. Group polarization b. Vertical integration c. Customer desensitization d. Employee involvement

d. Employee involvement

In the context of the levels of relationship marketing, which of the following is a drawback associated with the efforts that focus on pricing and other financial incentives to attract customers? a. It makes advertising and promotional expenses worthless. b. It leads to hostile relationships with the suppliers. c. It does not encourage creativity in advertising. d. It is least likely to lead to a long-term relationship.

d. It is least likely to lead to a long-term relationship.

Which of the following is true of secondary data used in marketing research? a. It is the data collected for a specific market study. b. It provides richer and more detailed information compared to primary data. c. It is usually collected and compiled by the investigator conducting the study. d. It requires less time and is less expensive to gather.

d. It requires less time and is less expensive to gather.

Gourmet restaurants and fast food chains cater to the same want satisfaction-a place to eat. However, at the gourmet restaurants you experience finely prepared cuisine served by a highly trained wait staff while at the fast food chains you may have to serve yourself. Which of the following characteristics of services best represents this difference? a. Services are intangible. b. Companies cannot easily standardize services. c. Services are perishable. d. Service standards show wide variations.

d. Service standards show wide variations.

Which of the following is true of generic products? a. They are identified through a brand name owned by a wholesaler or retailer. b. They are identified through a brand name owned by a manufacturer or other producer. c. They are well known national brands sold exclusively through a joint venture between a manufacturer and a retailer. d. They are characterized by plain labels, little or no advertising, and no brand names.

d. They are characterized by plain labels, little or no advertising, and no brand names

Which of the following is a feature of marketing efforts at the third level of relationship marketing? a. They are least likely to lead to a long-term relationship between the buyer and seller. b. They are more likely to be focused on geographic segmentation rather than psychographic segmentation. c. They try to motivate consumers to buy products by offering financial incentives. d. They focus on developing a dependance between buyers and sellers.

d. They focus on developing a dependance between buyers and sellers.

A company has introduced a new product in the market. The company distributes free samples of this product to people so that they can try it. This product is at the _____ stage of brand loyalty. a. brand insistence b. brand association c. brand preference d. brand recognition

d. brand recognition

Iron ore and raw cotton are examples of: a. personal products. b. shopping products. c. impulse products. d. business products.

d. business products

Palmer Inc. recently changed its promotional strategies for marketing the products. The marketing team at Palmer has been asked to evaluate the target market and the marketing mix elements to find ways to improve the effectiveness of the marketing strategies. Since the firm already knows the purpose of its research, the next step in the marketing research process is to: a. create research design. b. collect data. c. formulate a hypothesis. d. conduct exploratory research.

d. conduct exploratory research.

An urban area that includes two or more primary metropolitan statistical areas (PMSA) is called a _____. a. metropolitan statistical area (MSA) b. core based micropolitan region (CBMR) c. micropolitan statistical area (μSA) d. consolidated metropolitan statistical area (CMSA)

d. consolidated metropolitan statistical area (CMSA)

Kyle plans to buy new tires for a car that his family uses for camping trips. These tires are of the same type like those that are used on General Motors commercial trucks and can be purchased from Industrial Tire Company. The tires that Kyle will buy for his car can be classified as _____ products. a. business b. service c. MRO d. consumer

d. consumer

In the 1800s, more than 90 percent of Americans worked in _____ industry. a. shipping b. automobile c. service d. farming

d. farming

The agreements that set terms for various aspects of commercial relations with other countries such as the right to conduct business in the treaty partner's domestic market are called _____. a. treaty of establishment, commerce and navigation b. free trade agreements c. trade and investment framework agreements d. friendship, commerce, and navigation treaties

d. friendship, commerce, and navigation treaties

A micropolitan statistical area is an area that: a. includes a set a counties within an area of 1-million-plus population. b. has a urban center of 50,000 or more inhabitants. c. includes two or more primary metropolitan statistical areas. d. has at least one town of 10,000 to 49,999 people.

d. has at least one town of 10,000 to 49,999 people.

A(n) _____ sets the stage for more in-depth research in a marketing research process by further clarifying what researchers need to test. It is a tentative explanation for a specific event. a. sales analysis b. informal investigation c. ethnographic study d. hypothesis

d. hypothesis

A company wishing to implement a market segmentation strategy for its products should strongly consider using _____ branding. a. family b. captive c. generic d. individual

d. individual

Dawn, Joy, and Ivory are dish liquid brands manufactured by Procter & Gamble. All these brands can be regarded as _____ brands. a. private b. family c. generic d. individual

d. individual

Entertainment Research Group specializes in rating movie theaters using input from moviegoers. Entertainment Research Group is an example of a: a. contract market research firm. b. computerized data supplier. c. full-service consulting firm. d. limited-service research supplier.

d. limited-service research supplier.

As part of his marketing research duties, Neal evaluates the expenses incurred by his company for selling, warehousing, advertising, and delivering the products. Neal is engaging in: a. exploratory sales review. b. interpretative research. c. business process reengineering. d. marketing cost analysis.

d. marketing cost analysis.

The Kirkland brand is owned by Costco, and the products can only be purchased at Costco stores. Costco contracts with manufacturers to produce and package products under the Kirkland name. Kirkland can be regarded as a(n): a. family brand. b. individual brand. c. generic brand. d. private brand.

d. private brand

A _____ is a master plan created by a marketer for conducting market research. a. research cluster b. research hypothesis c. probability sample d. research design

d. research design

In addition to agricultural products and manufactured goods, the United States is also the world's largest exporter of: a. computers and its accessories. b. crude oil. c. consumer electronics. d. retailing.

d. retailing.

Channels designed to return goods to their producers are called _____ channels. a. reserve b. direct c. primary d. reverse

d. reverse

Direct selling is a marketing channel that moves goods directly from producer to the: a. retail storage warehouse. b. channel captain. c. marketing intermediary. d. ultimate consumer or business purchaser.

d. ultimate consumer or business purchaser.

The traditional channel for consumer goods proceeds from producer to: a. the ultimate consumer or user. b. agent to wholesaler to consumer. c. agent to the ultimate user. d. wholesaler to retailer to user.

d. wholesaler to retailer to user.