Final Exam MAR 255
Which of the following BEST describes the purpose of the customer insights team A. To develop new markets of customers for the company B. To represent the company to its customers C. To advertise new products to customer bases D. To create more value for customers E. To instruct other company departments in customer service
To create more value for customers
After recruiting and selecting salespeople, what is the next major step in sales force management? A - Designing sales force strategy and structure. B -Evaluating salespeople C -Training Salespeople D -Supervising Salespeople E -Compensating Salespeople
Training Salespeople
The seven - Step selling process takes a(n) approach to selling. In other worlds, its aim is to help salespeople close a specific sale with a customer. A. Value oriented B. Customer-oriented C. Transaction -oriented D. Profit -oriented E. Relationship-Oriented
Transaction -oriented
Which of the following statements about wholesaling is true? A. Wholesalers must make decisions regarding their marketing mix. B. Wholesalers do not need to differentiate themselves. C. Wholesalers do not need to define a target market. D. Wholesalers do not make positioning decisions. E. Wholesalers do not need to segment their markets.
Wholesalers must make decisions regarding their marketing mix.
To set its sales force size, a company can first group accounts into different classes according to size, account status, or other factors related to the amount of effort required to maintain the account. it them determines the number of salespeople needed to call on each class o accounts the desired number or times. This is called the ----- approach. A- Workload B- Field C - inside D - Complex E - Workforce
Workload
Competitive marketing intelligence is primarily responsible for _____________. A.implementing the research plan B.defining the problem C.the systematic collection and analysis of publicly available information D.developing the research plan E.using primary data over secondary
the systematic collection and analysis of publicly available information
One retail trend resulting from economic conditions is ________. A. tighter consumer spending B. the growth of social media retailing C. green retailing D. the rise of megaretailers E. pop-up stores
tighter consumer spending
Which of the following correctly describes the retail practice known as high-low pricing? A. High-low pricing means some products are priced high and others are priced low. B. High-low pricing means retailers charge an everyday low price. C. High-low pricing means retailers do not have to use promotions. D. High-low pricing means charging higher prices on an everyday basis, coupled with frequent sales and other price promotions. E. High-low pricing means the retailer does not have to run sales on selected items.
High-low pricing means charging higher prices on an everyday basis, coupled with frequent sales and other price promotions.
Which of the following describes a just-in-time logistics system? A. Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations. B. Just-in-time logistics systems allow producers and retailers to carry large amounts of inventory. C. Just-in-time logistics systems ensure that new stock arrives at least one week before it is needed. D. Just-in-time logistics systems greatly increase inventory-carrying and inventory-handling costs. E. Just-in-time logistic systems eliminate the need for forecasting.
Just-in-time logistics systems allow producers and retailers to carry small inventories to last for only a few days of operations.
Under which type of system does the customer share real-time data on sales and current inventory levels with the supplier, and the supplier then takes full responsibility for managing inventories and deliveries? A. Vendor-managed inventory B. RFID C. Reverse logistics D. Just-in-time logistics E. Piggybacking
Vendor-managed inventory
What are the four major functions of logistics? A. Retailing, inventory management, transportation, and logistics information management B. Inventory management, transportation, shipping, warehousing C. Warehousing, inventory management, retailing, logistics information management D. Warehousing, inventory management, transportation, logistics information management E. Warehousing, inventory management, transportation, retailing
Warehousing, inventory management, transportation, logistics information management
At which step in the personal selling process does a salesperosn meet the customer for the first time? A- Prapproach B-Wualifying C-Approach D-Prospecting E-Presentation
Approach
Which of the following is an example of horizontal channel conflict? A. A consumer complaining to a retailer about the service he received. B. A retailer complaining about receiving damaged goods from a wholesaler. C. A Ford dealer complaining that another Ford dealer is advertising in its territory. D. A consumer complaining to a producer about the quality of a product. E. A retailer complaining about a producer's pricing.
A Ford dealer complaining that another Ford dealer is advertising in its territory.
What are the four elements of a compensation plan for salespeople? A - A fixed amount, a variable amount, stock ownership, and fringe benefits B-A fixed amount, a variable amount, expenses, and commission C- A fixed amount, a variable amount, expenses and fringe benefits D-A fixed amount, a variable amount, salary and commission E-A fixed amount, a variable amount, expenses and salary
A fixed amount, a variable amount, expenses and fringe benefits
What is the most common type of a contractual VMS? A. A franchise B. A supplier C. A wholesaler D. A channel intermediary E. A retailer
A franchise
What is MIS? A. An internal database B. customer insights team C. Competitive marketing intelligence D. A marketing information system E. Customer relationship management
A marketing information system
A colleague needs to collect descriptive data about his customer's attitudes. He has not done this type of research before. What research approach would you recommend to best suit this research project A.Secondary data B.An ethnographic study C.An experiment D.Observation E.A survey
A survey
________ is a geographic characteristic of market potential. A. Education B. Population age C. Country size D. Population growth E. Population size
Country size
The act of obtaining a desired object from someone by offering something in return is known as which of the following? A. An exchange B. A swap C. A trade D. A sale E. A barter
A. An exchange
Which of the following is NOT a product life cycle (PLC) stage? A. Commercialization B. Introduction C. Decline D. Growth E. Maturity
A. Commercialization
Which of the five characteristics identified in the text has an inverse relationship with an innovation's rate of adoption? As this characteristic increases, the rate of adoption is slower. A. Complexity B. Relative advantage C. Communicability D. Compatibility E. Divisibility
A. Complexity
Craig's Craft Beer structures its company in such a way to encourage its most profitable older customers to remain loyal while also targeting a new generation of customers. What is Craig's Craft Beer attempting to build? A. Customer equity B. Partner relationships C. Customer loyalty D. Share of customer E. Customer lifetime value
A. Customer equity
Which of the following statements is true regarding oligopolistic competition? A. Each seller is alert and responsive to competitors' pricing strategies and marketing moves B. The market consists of many large sellers. C. Many buyers and sellers trade a uniform commodity. D. The market is dominated by one seller. E. The market consists of many buyers and sellers trading over a range of prices.
A. Each seller is alert and responsive to competitors' pricing strategies and marketing moves
A company's value chain is only as strong as its weakest link. What should a company do to properly gauge the strength of its links and continually improve? A. Examine the company's partner relationship management. B. Perform a growth-share matrix. C. Evaluate its value delivery network. D. Determine the company's proper marketing mix. E. Perform a SWOT analysis.
A. Examine the company's partner relationship management.
Byron Tied 2 Bowties groups its customers by regions in the United States, such as Midwest, Northeast, and Southwest. For each region, Byron Tied 2 Bowties creates a different set of advertisements and promotions. On which of the following segmentation variables does the firm divide its market? A. Geography B. Demographics C. Personality D. Benefits sought E. Behavior
A. Geography
The role of a company's marketing intermediaries is to do which of the following? A. Help the company find, promote, sell, and distribute products B. Determine which products a company should market C. Manage the company's human resources efforts D. Purchase the company's product E. Provide the resources needed by the company to produce goods and services
A. Help the company find, promote, sell, and distribute products
When a company engages in strategic planning, it must consider which of the following? A. How to take advantage of current business opportunities B. How to divide its assets among stockholders C. How to best market its products D. How to keep current businesses running smoothly E. How to make the most money possible during a fiscal year
A. How to take advantage of current business opportunities
Which of the following is a valid concern when it comes to the four Ps? A. It uses the seller's view of the market. B. It is not helpful for not-for-profit companies. C. It uses the buyer's view of the markets. D. It does not include packaging. E. It does not include services.
A. It uses the seller's view of the market.
MorningLinks, Inc., makes breakfast sausages and has begun to use the slogan, "Start Your Day the Organic Way" to jump on the eco-friendly movement. Unfortunately, as soon as consumers discovered MorningLinks' not-so-organic ingredients, the company began to see a rapid decline in profits and customer loyalty. What was MorningLinks' mistake? A. MorningLinks did not deliver on the promise it made. B. MorningLinks did not properly differentiate its position. C. MorningLinks focused only on breakfast sausages instead of diversifying its product mix. D. MorningLinks' slogan was not catchy enough. E. MorningLinks failed to target the correct market segments.
A. MorningLinks did not deliver on the promise it made.
How do market demands relate to needs and wants? A. Needs are satisfied by wants, and buying power converts wants into demand. B. Demands result in customers needing and wanting a particular product. C. Needs and wants outweigh demands in the customer's mind. D. Needs, wants, and demands all describe the same state in the customer. E. Wants and demands are equivalent, and both satisfy needs at the same rate.
A. Needs are satisfied by wants, and buying power converts wants into demand.
Which of the following lists the five steps of the buyer decision process in the correct order? A. Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior. B. Purchase decision, need recognition, information search, evaluation of alternatives, and postpurchase behavior. C. Need recognition, purchase decision, information search, evaluation of alternatives, and postpurchase behavior. D. Need recognition, evaluation of alternatives, information search, purchase decision, and postpurchase behavior. E. Need recognition, information search, purchase decision, evaluation of alternatives, and postpurchase behavior.
A. Need recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior.
For which service characteristic do marketers need to pay close attention to fluctuations in demand? A. Perishability B. Inseparability C. Intangibility D. Tangibility E. Variability
A. Perishability
Consumers can obtain information from any of several sources. Which source is the most effective in that they legitimize the product? A. Personal sources B. Public sources C. Media sources D. The Internet E. Commercial sources
A. Personal sources
At which stage of the new product development process is a physical product first developed? A. Product development B. Test marketing C. Marketing strategy development D. Idea generation E. Concept development and testing
A. Product development
Which of the following statements is true regarding standardizing products for international markets? A. Standardization decreases product design, manufacturing, and marketing costs. B. Markets and consumers all over the world are alike, so a company should always standardize international products. C. Standardization helps a company develop a different image in different countries. D. Standardization ensures that products will succeed in foreign markets. E. Standardization increases product design, manufacturing, and marketing costs.
A. Standardization decreases product design, manufacturing, and marketing costs.
Which of the following is NOT a problem involving the natural environment that marketers need to consider? A. The aging U.S. population B. Government regulations C. Pollution D. Raw material shortages E. Greenhouse gases
A. The aging U.S. population
How does the microenvironment of a company differ from its macroenvironment? A. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. B. The microenvironment affects a larger portion of the company than the macroenvironment. C. The microenvironment is company-based, whereas the macroenvironment is customer-based. D. The microenvironment deals with the big problem, whereas the macroenvironment deals with trivial problems. E. The microenvironment uses more financial resources than the macroenvironment.
A. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
What is the main problem that sellers suffering from marketing myopia face? A. They focus more on products than the customer's underlying need. B. They focus more on profit than the customer's benefit. C. They focus more on brand image than the quality. D. They focus on customer wants instead of demands. E. They focus more on the customer's experience than the product itself.
A. They focus more on products than the customer's underlying need.
What is MOST likely to cause a variation in customer-perceived value? A. The customer's opinion of what constitutes value B. The cost of advertising to the target market C. The popularity of a product to the customer D. The cost to produce a product E. The customer's satisfaction with a product
A. The customer's opinion of what constitutes value
The Fair Packaging and Labeling Act in the United States enforces laws for what reason? A. To protect consumers from fraudulent packaging and labeling B. To protect the environment from over pollution by companies C. To protect the interests of society against unrestrained business behavior D. To protect the public from the unethical actions of big business E. To control trade policies and regulations
A. To protect consumers from fraudulent packaging and labeling
Margaret has been invited to a fancy dinner party and wants to bring a good bottle of wine as a gift for the host. Since she does not know much about wine, she will likely use the price of the wines as ________. A. an indicator of quality B. a limited time offer C. an indicator of the cost of production D. an indicator of geographic pricing E. a type of segmented pricing
A. an indicator of quality
The value of customer relationships that a brand creates is called _______. A. customer equity B. brand differentiation C. brand equity D. customer value E. brand value
A. customer equity
Age, personality, buying style, and job position are ________ factors that can influence the business buying decision process. A. individual B. interpersonal C. organizational D. cultural E. economic
A. individual
Materials and parts, capital items, and supplies and services are groups of _____ products. A. industrial B. specialty C. convenience D. unsought E. shopping
A. industrial
Service marketing requires ________. This means that the service firm must orient and motivate its customer-contact employees and supporting service people to work as a team to provide customer satisfaction. A. internal marketing B. external marketing C. image differentiation D. the service firm to focus only on the customer E. interactive marketing
A. internal marketing
Toyota allows Scion buyers to customize their cars to meet their exact needs and preferences. This is an example of ____________. A. micromarketing B. differentiated marketing C. segmented marketing D. concentrated marketing E. undifferentiated marketing
A. micromarketing
Items such as technical specifications, quantity, delivery time, return policies and warranties are included in the ____________. A. order routine specification B. proposal solicitation C. general need description D. product specification E. supplier selection
A. order routine specification
If competitors cannot easily copy the benefit a company chooses to promote, that benefit is said to be _________. A. preemptive B. superior C. affordable D. distinctive E. profitable
A. preemptive
If a company adds a new product line to its existing portfolio, it has increased its _________. A. product mix width B. product mix depth C. product line length D. product mix consistency E. product support services
A. product mix width
Internal factors that affect pricing include ________. A. the company's overall marketing strategy, objectives, and marketing mix B. The nature of the market, demand, and the economy. C. The company's overall marketing strategy, objectives and the nature of the market D. The company's overall marketing strategy, the nature of the market, and demand. E. the company's overall marketing strategy, objectives and demand
A. the company's overall marketing strategy, objectives, and marketing mix
To create successful new products, a company must _______. A. understand its consumers, markets, and competitors and develop products that deliver superior value B. obtain successful products through acquisitions instead of doing internal development C. cut costs to keep the price of new products low D. spend more on R&D that its competitors E. focus their new product development efforts only on consumers
A. understand its consumers, markets, and competitors and develop products that deliver superior value
To exercise their social responsibility, many companies are linking themselves to what type of marketing? A. Cause-related B. Environmental C. Generational D. Intermediaries E. Technological
A. Cause-related
Question marks, cash cows, dogs, and stars are the four types of SBUs defined in which of the following? A. Growth-share matrix B. Value delivery network C. Market segmentation D. Product expansion grid E. SWOT analysis
A. Growth-share matrix
New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing? A. Value-added pricing B. EDLP pricing C. High-low pricing D. Breakeven pricing E. Cost-plus pricing
A. Value-added pricing
The major cultural values of a society are expressed by _________. A. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe B. people's views of organizations C. people's views of society D. people's views of the universe E. people's views of themselves
A. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe
Channels often involve long-term commitments and companies have many alternatives. What type of criteria should be used if the company wants to keep the channel flexible so that it can respond to environmental changes? A. Sales criteria B. Adaptability criteria C. Profitability criteria D. Control criteria E. Investment criteria
Adaptability criteria
McDonald's operates the same basic fast-food look, layout, and operating model in its restaurants around the world but ________ its menu and design to local tastes. A. licenses B. directs C. adapts D. exports E. imports
Adapts
Large retailers like Walmart have enormous channel control due to their size and power. Which type of channel arrangement does this represent? A. Administered VMS B. Conventional distribution channel C. Franchise D. Contractual VMS E. Corporate VMS
Administered VMS
What is the first step in marketing channel design? A. Analyzing consumer needs. B. Evaluating major channel alternatives. C. Identifying the types of intermediaries to use. D. Setting channel objectives. E. Identifying the number of intermediaries to use.
Analyzing consumer needs.
Cupcakes by Cindy is attempting to gather information about its customers in order to improve its customer service. Which of the following is the BEST place for this company to start to develop an efficient MIS? A.Determine how to use the information gathered by market research. B.Assess the information needs of the company. C.Conduct surveys or focus groups to gather information. D.Analyze the information gathered in market research. E.Distribute necessary information to the marketing team.
Assess the information needs of the company
Which of the following correctly defines a product? A. A product is not a part of the overall market offering. B. A product is anything offered to a market that might satisfy a need or want. C. Products have two levels dash- the actual product and the augmented product. D. Products include tangible objects and services but not events or people. E. Products are only tangible objects offered to a market to satisfy a want or need.
B. A product is anything offered to a market that might satisfy a need or want.
Which of the following describes the current trend in businesses regarding relationships with customers? A. Find a few customers and develop strong relationships with them. B. Build the right relationships with the right customers. C. Gather as many customers as possible on a surface level. D. Maintain strong relationships with as many customers as possible. E. Avoid developing relationships with customers at all.
B. Build the right relationships with the right customers.
Which of the following types of marketing involves creating opinion leaders to serve as brand ambassadors to spread the word about a company's products? A. Direct marketing B. Buzz marketing C. Social marketing D. Values marketing E. Traditional marketing
B. Buzz marketing
How do the individual components of a SWOT analysis work together to determine the status of a company? A. By creating a niche in a market that can be exploited by a company to gain the greatest profits B. By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development C. By developing a course of action that best determines a core market, the proper product to give the core market, and how to do so at an affordable price D. By streamlining a company's core processes so that all of the company's operations flow smoothly and contribute to the development and sale of its products E. By developing a marketing strategy that promotes a company's highest-selling products in such a way that there is a measurable return on the company's investment
B. By ascertaining a company's strengths, relating them to opportunities, minimizing weaknesses, and identifying threats to growth and development
Socially responsible target marketing would classify which of the following as an especially vulnerable target market for harmful or controversial products? A. Baby Boomers B. Children C. Single households D. Wealthy consumers E. Females
B. Children
How has the Great Recession of 2008-2009 affected consumers' attitudes? A. Consumers are more willing to indulge in luxuries. B. Consumers are showing an enthusiasm for frugality. C. Consumers' attitudes have not been affected by the recession. D. Consumers are moving from mindful to mindless consumption. E. Consumers are less willing to save their money.
B. Consumers are showing an enthusiasm for frugality.
Which type of consumer products are frequently purchased with little planning, little comparison or shopping effort, and low customer involvement? A. Capital products B. Convenience products C. Industrial products D. Specialty products E. Shopping products
B. Convenience products
Nibbles Pet Food Corporation is in the process of developing its new market strategy. The marketing team has already established the company's niche productlong dash—premium, organic dog and cat foodlong dash—and contracted to sell it in several high-end pet stores. The team has also determined the optimum price to create value for customers and still make a profit. What does the marketing team need to do now? A. Develop the formula for the organic pet food. B. Create a promotion strategy to increase customer awareness. C. Determine the company's primary competition in the pet food market. D. Determine the target market for the product. E. Work on a line of leashes, pet brushes, and pet furniture.
B. Create a promotion strategy to increase customer awareness.
A wedding services company changes its marketing strategy to reflect the fact that more LGBT (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company analyze? A. Economic B. Cultural C. Technological D. Natural E. Political
B. Cultural
________ refers to setting price based on buyers' perception of value rather than on the seller's cost. A. Value-added pricing B. Customer value-based pricing C. Cost D. Cost-based pricing E. Good-value pricing
B. Customer value-based pricing
Bob's Bicycle Sales and Repair is a brand new company. From a marketing standpoint, what is the FIRST thing Bob's Bicycle Sales and Repair needs to do? A. Advertise the company as a location in which to purchase bicycles or repair services. B. Determine who in the community wants or needs a bicycle or repair service. C. Develop a plan to sell as many bicycles as possible. D. Develop relationships with the customers who come to purchase bicycles or repair services. E. Develop the best bicycle selection to sell.
B. Determine who in the community wants or needs a bicycle or repair service.
Sarah has started a new company, Sarah's Soaps. She has decided upon the overall purpose and mission, created detailed objectives to guide the company, and performed detailed portfolio analysis. Unsure of her next step, she looks to her partner Mildred for advice. What is the BEST advice Mildred could give? A. Determine a target market and begin aggressively marketing to them. B. Develop detailed marketing and departmental plans that will support the company-wide plan. C. Reevaluate the mission statement to make sure it reflects the detailed objectives. D. Let the new department heads take over responsibility to test their effectiveness. E. Create a growth-share matrix to find cash cows to help fund question marks.
B. Develop detailed marketing and departmental plans that will support the company-wide plan.
When is the selling concept typically used by marketers? A. When the company seeks the long-term welfare of society B. For the purchase of unsought goods C. For seasonal items D. When the company focuses on customer needs E. When the product is of high quality
B. For the purchase of unsought goods
Which type of market segmentation has long been used in clothing, cosmetics, toiletries, and magazines? A. Benefits sought B. Gender C. Usage rate D. Occasion E. Income
B. Gender
What is management's first step when performing a portfolio analysis? A. Determine the company's goals. B. Identify strategic business units. C. Outline the company's mission statement. D. Determine the company's target market. E. Perform a SWOT analysis.
B. Identify strategic business units
Which of the following statements about new product development strategy is correct? A. A new product will succeed as long as it is priced correctly. B. Innovation can be very expensive and very risky. C. Good advertising creates successful new products. D. New products are not a major source of growth for companies. E. New products are usually successful because consumers like new things.
B. Innovation can be very expensive and very risky.
When Doritos comes out with new flavors of its tortilla chips, what brand development strategy does it employ? A. New brand B. Line extension C. Store brand. D. Multibrand E. Brand extension
B. Line extension
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following? A. Microenvironment B. Macroenvironment C. Technological environment D. Cultural environment E. Marketing environment
B. Macroenvironment
Which of the following statements is true regarding product life cycle curves? A. All products follow the traditional 5-stage PLC model. B. Marketers do not know the exact shape and length of their product's life cycle in advance. C. Marketing strategies do not change for different life cycle stages. D. Managing products through their life cycle is an easy task. E. Once a product reaches the decline stage, it cannot be recycled back to growth.
B. Marketers do not know the exact shape and length of their product's life cycle in advance.
When manufacturers launch products using their own brand names, which sponsorship option are they using? A. Distributor branding B. National branding C. Store branding D. Private branding E. Co-branding
B. National branding
Which of the following statements is true regarding packaging? A. Packaging does not influence the consumer buying decision. B. Packaging can be an important part of a brand's identity. C. Packaging is not an important consideration in product strategy. D. Packaging does not impact product safety. E. Packaging is not used to gain a competitive advantage.
B. Packaging can be an important part of a brand's identity.
______ consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. A. Market targeting Your answer is not correct. B. Positioning This is the correct answer. C. Differentiation D. Market segmentation E. Mass marketing
B. Positioning
Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the past, Roper's Radical Racers marketed itself to the fun-loving driverlong dash—the driver who wanted to "race with life." However, in the current economy, Roper's has changed its slogan to "superior speed, superior savings." Roper's Radical Racers is engaging in which of the following? A. Income distribution B. Price slashing C. Value marketing D. Market consideration E. Diversity targeting
B. Price slashing
Which of the following is NOT one of the four Ps of the marketing mix? A. Price B. Profit C. Promotion D. Place E. Product
B. Profit
Which of the following is a variable used to segment consumer buyers that is not used to segment business buyers? A. Personal characteristics B. Psychographics C. Situational factors D. Operating characteristics E. Purchasing approaches
B. Psychographics
Which brand dimension is defined as how consumers feel a brand meets their needs? A. Differentiation B. Relevance C. Equity D. Knowledge E. Esteem
B. Relevance
Which of the following is NOT part of an overall SWOT analysis evaluation of a company? A. Threats B. Strategy C. Opportunities D. Strengths E. Weakness
B. Strategy
According to the model of buyer behavior, what is in a buyer's black box? A. Purchase behavior B. The buyer's characteristics and the buyer's decision process C. Cultural forces D. The four Ps E. Attitudes and preferences
B. The buyer's characteristics and the buyer's decision process
Which of the following is an external source of new product ideas for a company? A. Hackathons B. Trade magazines C. Innovation D. R&D E. Intrapreneurial programs
B. Trade magazines
Service _______ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought. A. variability B. intangibility C. inseparability D. packaging E. perishability
B. intangibility
Grocers in neighborhoods with a large Hispanic population typically carry more brands that Hispanic consumers prefer than grocers in other neighborhoods. This is an example of ________. A. concentrated marketing B. local marketing C. individual marketing D. undifferentiated marketing E. differentiated marketing
B. local marketing
Firms that manufacture seasonal products target their consumers primarily through ________ segmentation. A. psychographic B. occasion C. income D. age and life cycle E. demographic
B. occasion
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among the fans. From the fans' viewpoint, the housewives reality show is a(n) _____. A. membership group B. reference group C. family group D. lagging adopter E. late-majority adopter
B. reference group
What are stars in the growth share matrix? A. Low-growth, high-share businesses or products B. High-growth, high-share businesses or products C. Low-growth, low-share businesses and products D. The growth star matrix does not contain stars. E. Low-share, high-growth businesses or products
B. High-growth, high-share businesses or products
Bath & Body Works offers "three-fer" deals on its soaps and lotions (such as three antibacterial soaps for $10). This is an example of _______ pricing. A. captive-product B. product-bundle C. product line D. two-part pricing E. by-product
B. product-bundle
________ involve(s) the direct exchange of goods and services. A. Emerging economies B. A subsistence economy C. Barter D. Industrial economies E. A raw material exporting economy
Barter
Which of the following statements about blogs is correct? A.They are expensive to start and maintain. B.Companies cannot gain insights from their blogs. C.For consumers, they are impersonal. D.Blogs can be difficult for the company to control. E.Blogs are a company-controlled medium.
Blogs can be difficult for the company to control.
Which of the following is true regarding the forms of direct and digital marketing? A.Direct and digital marketing does not include mobile marketing. B.Both the new digital and the more traditional forms of direct marketing must be blended into a fully integrated marketing communications program. C.Traditional direct marketing tools are still used but are no longer important. D.Marketers today only use direct and digital marketing. E.Online marketing is the only form of direct and digital marketing.
Both the new digital and the more traditional forms of direct marketing must be blended into a fully integrated marketing communications program
---- promotions are used to generate business leads, stimulate purchases, reward customers, and motivate salespeople. A- Business B- Sales Force C- Trade D- Consumer E- Clutter
Business
Which of the following identifies a change in the technological environment that could affect the success of a business? A. A company develops a customer support program that customers rate twice as responsive as the previous program. B. A company packages its product to be twice the size of its predecessor. C. A company develops a new battery that lasts twice as long as its predecessor. D. A company develops a new battery that costs twice as much as its predecessor. E. A company develops a new warranty that lasts as long as its predecessor.
C. A company develops a new battery that lasts twice as long as its predecessor.
Which of the following is a cost-oriented pricing approach? A. Competition-based pricing B. EDLP pricing C. Breakeven pricing D. Value added pricing E. High-low pricing
C. Breakeven pricing
Which of the following BEST describes a duty that would fall under the jurisdiction of the FDA? A. Protecting the legal status of a company B. Ensuring that pollution standards are met by a company C. Checking the quality of food that is served in school lunches D. Investigating customer complaints about a business E. Evaluating whether an advertisement to be aired in public is fitting
C. Checking the quality of food that is served in school lunches
Advantage Airlines has instituted a loyalty rewards program that rewards customers with free Wi-Fi, seat upgrades, and free miles for their continued patronage. What relationship tool is Advantage Airlines using? A. Consumer-generated marketing B. Mass-media marketing C. Frequency marketing program D. Customer-perceived value E. Club marketing program
C. Frequency marketing program
________ segmentation calls for dividing the market into different nations, regions, states, counties, cities, or even neighborhoods. A. Demographic B. Behavioral C. Geographic D. Lifestyle E. Income
C. Geographic
At which stage of the new product development process is crowdsourcing used? A. Commercialization B. Product development C. Idea generation D. Marketing strategy development E. Idea screening
C. Idea generation
Which of the following is true regarding the price-demand relationship? A. Price elasticity measures how responsive price will be to a change in demand. B. Demand and price are directly related dash- the higher the price, the greater the demand. C. If demand is elastic, sellers will consider lowering their price. D. If demand is inelastic, a small change in price will result in a large change in demand. E. A demand curve shows the number of units a company will produce in a given time period at different prices that might be charged.
C. If demand is elastic, sellers will consider lowering their price.
A local theatre group wants to increase the membership and attendance at its performances. To do so, it hosts free shows, offers standup comedy nights, and sends volunteers to the local high school. In what is the theatre group engaging? A. Advertising B. Product placement C. Market exchange D. Market research E. Societal marketing
C. Market exchange
Denim Blue Jean Corporation is a growing company located in Washington State, but it is beginning to develop a presence in the surrounding states as well. It sells only one productlong dash—blue jeanslong dash—but it has 12 different lines of jeans that cater to men, women, children, babies, toddlers, and teens. Which marketing organization would BEST suit Denim Blue Jean Corporation? A. Geographic organization B. Functional organization C. Market or customer organization D. Product management organization E. Combination organization
C. Market or customer organization This is the correct answer.
When a company divides the market into groups of customers, it is engaging in which of the following? A. Societal marketing B. Differentiation C. Market segmentation D. Target marketing E. Demand management
C. Market segmentation
Which of the following statements concerning new products is correct? A. A modified product is not considered a new product. B. Products that are merely improved in some way are not considered new. C. Modified and improved products are considered new. D. Most new products succeed within two years of their introduction. E. To be considered new, the product must be something consumers have not seen before.
C. Modified and improved products are considered new.
A marketing dashboard is used to do which of the following? A. Determine the financial cost of developing a product. B. Develop a course of action to market a product. C. Monitor strategic marketing performance. D. Analyze the new product lines being developed. E. Promote a product to a target group.
C. Monitor strategic marketing performance.
What is the first step of the buyer decision process? A. Information search B. Postpurchase behavior C. Need recognition D. Purchase decision E. Alternative evaluation
C. Need recognition
When Coca-Cola saw the growth of the bottled water category, they launched Dasani, its brand of bottled water. Which brand development strategy did Coca-Cola use in launching Disani? A. Line extension B. Licensing C. New brand D. Multibranding E. Brand extension
C. New brand
Which of the following needs in Maslow's hierarchy is generally satisfied first? A. Safety needs B. Self-actualization needs C. Physiological needs D. Esteem needs E. Social needs
C. Physiological needs
________ is a global communication strategy of fully adapting advertising messages to local markets. A. Product invention B. Dual adaptation C. Product adaptation D. Straight extension E. Communication adaptation
Communication adaptation
Which of the following statements regarding the important decisions in the development and marketing of individual products is correct? A. Determining product support services is not part of the development of individual products. B. How a product is branded is separate from the development and marketing of individual products. C. Product attributes that communicate and deliver benefits to the consumer include quality, features, and style and design. D. Packaging decisions are not an important part of developing individual products. E. Product labelling is no longer subject to legal regulation.
C. Product attributes that communicate and deliver benefits to the consumer include quality, features, and style and design.
The Children's Online Privacy Protection Act in the United States enforces laws for what reason? A. Makes deceptive, misleading, and unfair practices illegal regardless of injury to competition B. Regulates the distribution of unsolicited commercial e-mail C. Prohibits online service operators from collecting personal information from children D. Bans the sale of hazardous toys and articles E. Establishes procedures to avoid unwanted telephone solicitations
C. Prohibits online service operators from collecting personal information from children
Which of the following is a potentially effective action a company could take in response to a competitor's price cut? A. Raise price B. Launch a high-price "fighter brand" C. Reduce price D. Decrease perceived value E. Reduce both price and quality.
C. Reduce price
Which of the following is a social factor that influences consumer buying behavior? A. Life-cycle stage B. Personality C. Roles and status D. Economic situation E. Occupation
C. Roles and status
Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment? A. Political B. Natural C. Technological D. Cultural E. Social
C. Technological
What is a business portfolio? A. The record of the responsibilities of the CEO and the CFO B. A collection of a group of companies within the same area of business C. The collection of businesses and products that make up a company D. A projection of a future marketing direction for a company E. A record of business investments
C. The collection of businesses and products that make up a company
How do company objectives and goals relate to the company mission statement? A. The mission statement and the company goals are two different pieces used to explain the business of the company to its shareholders. B. The mission statement defines what the company does, and the goals and objectives outline why the company does it. C. The goals and objectives outline the steps necessary to accomplish the company's mission statement. D. The goals and objectives are a restatement of the mission statement in more understandable terms. E. The mission statement is developed based upon the company's goals and objectives.
C. The goals and objectives outline the steps necessary to accomplish the company's mission statement.
Which of the following statements regarding socially responsible product decisions is correct? A. Companies can safely ignore patent laws. B. Manufacturers are generally not concerned with product liability. C. The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition. D. Safety legislation has been passed to regulate chemical substances and drugs and poisons, but not toys, automobiles and fabrics. E. When companies drop products, they do not have any obligations to suppliers, dealers and customers.
C. The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.
A value chain consists of which of the following? A. A chain of SBUs within a company that provide the most value B. The network of distributors and suppliers that support a company C. The series of internal departments that carry out value-creating activities D. The acquisitions team that buys products for the company to sell E. The customers who assign value to products within the company
C. The series of internal departments that carry out value-creating activities
Which of the following statements is correct concerning service marketers going global? A. Compared to product marketers, service marketers do not face any additional challenges when going global. B. The growth of global service companies is expected to decline in the near future. C. The trend toward growth of global service companies is expected to continue in the near future. D. One industry that still has not globalized is retailing. E. Due to the nature of their business, professional service firms cannot expand their business to foreign markets.
C. The trend toward growth of global service companies is expected to continue in the near future.
From a marketing standpoint, which of the following BEST describes Baby Boomers? A. They blend the online and offline worlds seamlessly as they socialize and shop. B. They are more likely to be receptive to irreverent ad pitches that make fun of convention and tradition. C. They constitute a lucrative market for financial services, new housing and home remodeling, new cars, travel and entertainment, eating out, and health and fitness products. D. They tend to research products before they consider a purchase. E. They are slowing down as they age.
C. They constitute a lucrative market for financial services, new housing and home remodeling, new cars, travel and entertainment, eating out, and health and fitness products.
What is the purpose of the marketing mix as part of the overall marketing strategy? A. To streamline a company's research, marketing, production, and sales of a particular product B. To compare some or all of the company's products with the products of the company's competitors C. To elicit a response that influences a demand for the product from the customers the company is targeting D. To create an overall positive image in the customer's mind that is favorably associated with the company E. To maximize the company's profits through successful marketing and sales of a particular product
C. To elicit a response that influences a demand for the product from the customers the company is targeting
The quality of services depends on who provides them as well as when, where, and how they are provided. Which characteristic of services does this describe? A. Intangibility B. Perishability C. Variability D. Inseparability E. Tangibility
C. Variability
Which of the following is considered part of an augmented product rather than that of an actual product or core customer value? A. Design B. Brand name C. Warranty D. Packaging E. Product features
C. Warranty
Which of the following statements is true regarding initiating price increases? A. Prices should be increased when there is a lack of demand. B. Price increases do not impact profits. C. Wherever possible, the company should consider ways to meet higher costs or demand without raising prices. D. Cost inflation is not a factor in price increases. E. Companies do not need to communicate reasons for price increases to customers.
C. Wherever possible, the company should consider ways to meet higher costs or demand without raising prices.
H2Coast, an automobile manufacturer, produces fuel-efficient hybrid vehicles that are targeted toward middle-income consumer groups. H2Coast most likely segments the consumer market based on ________ variables. A. geographic B. behavioral C. demographic D. psychographic E. universal
C. demographic
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________. A. identifying and targeting late adopters B. pushing one-way commercials at customers C. generating person-to-person brand conversations D. withdrawing from online social networks E. developing print and radio advertisements
C. generating person-to-person brand conversations
The Ford Mustang is offered in several different models. Ford will use __________ pricing to determine the price steps between the different models. A. captive-product B. two-part pricing C. product line D. optional-product E. product-bundle
C. product line
To be more socially responsible, some companies are appointing _____________. Their job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems. A. product champions B. product managers C. product stewards D. attorneys E. brand managers
C. product stewards
A retailer temporarily prices a few select items below cost to create excitement and pull consumers into the store. This is an example of _________ pricing. A. psychological B. geographical C. promotional D. optional product E. segmented
C. promotional
The marketing manager at Arbor's Delicatessen targets customers who are working to lose weight but who still want to dine out. The restaurant chain offers a wide variety of low-fat, low-calorie meals that appeal to dieters. Arbors' approach is best referred to as ________ segmentation. A. user status B. age and life cycle C. psychographic D. geographic E. benefit
C. psychographic
In a _________, the business-to-business buyer reorders something without modifications. A. modified rebuy B. buying decision C. straight rebuy D. system selling E. new task
C. straight rebuy
When a company lengthens a product line by adding more items beyond its current range, they are ________. A. increasing the width of their product mix B. decreasing the width of their product mix C. stretching the line D. filling the line E. decreasing the depth of the line
C. stretching the line
Installing an innovation management system to collect, review, evaluate, and manage new product ideas represents a(n) ______________ approach to new product development. A. customer-centered B. crowdsourced C. systematic D. sequential E. team-based
C. systematic
The group of economic factors that affect consumers' purchasing power and spending patterns is called ________. A. the value market B. income distribution C. the economic environment D. demographic information E. macroenvironment
C. the economic environment
Selling and advertising are part of a larger set of marketing tools that work together to satisfy customer needs and build customer relationships known as _____________. A. customer-engagement marketing B. customer equity C. the marketing mix D. the marketing concept E. market offerings
C. the marketing mix
One major objective associated with a market-penetration pricing strategy is to ________. A. prevent customer dissatisfaction B. attract buyers willing to pay a higher price C. win a large market share D. skim off small but profitable market segments E. avoid everyday low pricing
C. win a large market share
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes? A. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. B. Tina's Tunes is likely to fail because it is ignoring the current political environment. C. Tina's Tunes is likely to fail because it is ignoring the technological environment. D. Tina's tunes are likely to prosper as mistrust in the digital age increases. E. Tina's Tunes is likely to fail because it is ignoring the natural environment.
C. Tina's Tunes is likely to fail because it is ignoring the technological environment.
When Apple Computer Company introduced its iPhone, its priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a ___________________ new product pricing strategy. A. optional-product B. captive-product C. market-skimming D. by-product E. market-penetration
C. market-skimming
_________ is a geographic characteristic indicator of market potential. A. Social norms B. Climate C. Consumer lifestyles D. Cultural norms E. Languages
Climate
Which of the following statements about coordinating marketing and sales is correct? A- Coordination between marketing and sales is not necessary because companies today see them as the same function B- The sales force only needs to coordinate its efforts with marketing planners. C- Marketing and sales do not require coordination D- Coordinating marketing and sales can be improved by increasing communication between the two groups. E- Coordinating and marketing and sales has little effect on customer relations.
Coordinating marketing and sales can be improved by increasing communication between the two groups.
What are the four major types of retail organization? A. Corporate chains, wholesalers, superstores, and franchise organizations. B. Corporate chains, voluntary chains, retailer cooperatives, and wholesalers C. Discount stores, service retailers, superstores, and supermarkets. D. Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations. E. Corporate chains, voluntary chains, wholesalers, and franchise organizations.
Corporate chains, voluntary chains, retailer cooperatives, and franchise organizations.
Sky owns a small hot air balloon company in Albuquerque, New Mexico. He recently started a Facebook page for his company and many of his customers are asking for store-sponsored hot air balloon trips. They believe Sky's expertise would make him the perfect guide. Sky decides to host quarterly hot air balloon trips and experiences a huge increase in sales and customer satisfaction. Which of the following is the BEST conclusion that can be drawn from Sky's situation? A.Customer insights can be gained only through costly market research. B.Customer insights are not dependable. C.Customer insights can provide valuable information to a small businesses. D.Most small businesses have no way of easily accessing customer insights. E.Customer insights are emotional and often irrelevant to a small business.
Customer insights can provide valuable information to a small businesses.
To be successful, why should companies try to adopt a proactive stance on marketing? A. A proactive stance allows a company to let the market determine prices for its products. B. A proactive stance allows a company to compete with its competitors on quality alone. C. A proactive stance ensures that a company will increase its market share. D. A proactive stance allows a company to influence the market in its favor. E. A proactive stance allows a company to compete with its competitors on pricing alone.
D. A proactive stance allows a company to influence the market in its favor.
_________ refers to the practice of including ethnic themes and cross-cultural practices within a company's mainstream. A. Guerilla marketing B. Buzz marketing C. Viral marketing D. A total market strategy E. Cause marketing
D. A total market strategy
______________ is the first stage in the new product adoption process. A. Interest B. Evaluation C. Adoption D. Awareness E. Trial
D. Awareness
The ultimate goal of the marketing process is to do which of the following? A. Evaluate customer needs. B. Create a quality product. C. Develop relationships with customers. D. Capture value from customers. E. Determine a target market.
D. Capture value from customers.
You can practice sustainable marketing by adhering to general practices. Which of the following would allow a company to profit by serving immediate needs and long-term interests but not necessarily be a practice of sustainable marketing? A. Help protect the natural environment. B. Seek ways to profit by serving the long-run interests of customers and communities. C. Deliver value in a socially and environmentally responsible way. D. Delay responding to environmental legislation as it is instituted. E. Practice caring capitalism by being civic minded and responsible.
D. Delay responding to environmental legislation as it is instituted.
After segmenting and defining their target markets, what should retailers do next? A. Decide on the level of service. B. Decide on the store atmosphere C. Decide on the product assortment. D. Decide on the location. E. Decide how they will differentiate and position themselves in the market.
Decide how they will differentiate and position themselves in the market.
Dylan Parker owns 27 acres on a farmstead in Iowa. Recently, as he was plowing a field, he came across a rich silver vein in the ground. Realizing his bounty, he decided to open a new business selling silver. Not knowing much about the marketing environment, he asks you what he should do. Which of the following is the BEST advice? A. Dylan should set his attention to the government markets. B. Dylan should focus on farming and ignore the silver vein. C. Dylan should focus on the consumer market and sell silver directly for personal consumption. D. Dylan should focus on the business market and sell the raw silver for further processing. E. Dylan should reach out to reseller markets to sell his silver quickly.
D. Dylan should focus on the business market and sell the raw silver for further processing.
The goal of a market development growth strategy is to do which of the following? A. Buy businesses beyond its current products and markets. B. Offer modified or new products to current markets. C. Make more sales to current customers without changing its original products. D. Identify and develop new markets for current products of a company's market. E. Start up businesses beyond its current products and markets.
D. Identify and develop new markets for current products of a company's market.
A company can differentiate itself from competitors using symbols such as McDonald's golden arches, Twitter's bird, and the Nike swoosh. Which type of differentiation is this? A. People differentiation B. Services differentiation C. Product differentiation D. Image differentiation E. Channel differentiation
D. Image differentiation
Overall, how has the American population changed over time? A. It has become closer knit and more family-oriented. B. It has become more likely to develop brand loyalty. C. It has become more skeptical about marketing schemes. D. It has become more diverse, better educated, and more mobile. E. It has become wealthier, more cultured, and more frivolous in its spending habits.
D. It has become more diverse, better educated, and more mobile.
This adopter group is skeptical and only adopts new products after a majority of people has tried it. A. Lagging adopters. B. Early adopters. C. Early mainstream. D. Late mainstream. E. Innovators.
D. Late mainstream.
In determining product quality, what are the two dimensions of quality marketers must decide upon? A. Consistency and conformance. B. Level and price C. Consistency and packaging. D. Level and consistency E. Level and conformance.
D. Level and consistency
When we see Hello Kitty on children's clothing, Disney characters on lunchboxes, and Sponge Bob Squarepants on breakfast cereals, which form of brand sponsorship is being used? A. Store branding B. National branding C. Private branding D. Licensing E. Co-branding
D. Licensing
________ involves dividing a market into smaller segments of buyers with distinct needs or behaviors that might require separate marketing strategies. A. Mass marketing B. Differentiation C. Positioning D. Market segmenting E. Market targeting
D. Market segmenting
Which of the following would be an appropriate strategy during the maturity stage of the product lifecycle? A. Select products to maintain, harvest or drop. B. Produce basic versions of the product and focus on selling to those buyers who are the most ready to buy. C. Use promotional spending to inform consumers and get them to try the product. D. Modify the market, product offering and marketing mix. E. Shift some advertising from building product awareness to building product conviction and purchase.
D. Modify the market, product offering and marketing mix.
Which of the following is a personal factor that influences a consumer's buying behavior? A. Family B. Status C. Social networks D. Occupation E. Motivation
D. Occupation
What is the ultimate aim of customer relationship management? A. Maintain high customer loyalty. B. Establish brand equity. C. Increase share of customer. D. Produce high customer equity. E. Produce high customer profitability.
D. Produce high customer equity.
At one time, Miller Beer was known as the "champagne of bottled beer." It was targeted at an elite class of customers. Later, to increase sales, Miller was repositioned to attract members of the working, middle-class. What is this segmentation method called? A. Benefit B. Usage rate C. Behavioral D. Psychographic E. User status
D. Psychographic
Which marketing philosophy holds that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort? A. Societal marketing concept B. Marketing concept C. Product concept D. Selling concept E. Production concept
D. Selling concept
June and Beatrice have started a new company, Junbee Inc., and are having trouble deciding which marketing path to take to drive sales. June believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Beatrice believes they should be more customer-oriented and find the right products for their customers. Which of the following BEST describes this situation? A. Should Junbee Inc. follow a societal marketing or production concept? B. Should Junbee Inc. follow a production or selling concept? C. Should Junbee Inc. follow a product or selling concept? D. Should Junbee Inc. follow a product or marketing concept? E. Should Junbee Inc. follow a marketing concept or a societal marketing concept?
D. Should Junbee Inc. follow a product or marketing concept?
Nailit Cosmetics is advertising its newest line of nail polishes. Nailit is selling the products in specially designed bottles that make application easier, made from a non-toxic, water-based nail polish with amazing summer colors. Which of the following is a core customer value for Nailit's line of polishes? A. The products' revolutionary packaging B. The Nailit brand C. The non-toxic properties of the products D. The desire to have beautiful nails E. The natural ingredients
D. The desire to have beautiful nails
Tammy's Tap Dancing School currently has several question marks in its business portfolio, but it is currently maintaining its market share. At the most recent board meeting, the CEO of Tammy's Tap Dancing School decided to allocate all of the company's profits toward the growth and expansion of this question mark, in order to cause the question marks to become stars. What is likely to happen to this company? A. The company will go bankrupt, because all of its profits will be wasted on uncertain SBUs. B. The company will not show any growth or change at all, because profits will neither increase nor decrease. Your answer is not correct. C. The company will be unable to sustain itself, because its profits will be spent on developing question marks and not on maintaining more profitable SBUs. D. The growth of the company will be unpredictable since there is no guarantee a question mark will become a star. E. The company will gain market share and prosper as the question marks are developed.
D. The growth of the company will be unpredictable since there is no guarantee a question mark will become a star.
How does the new concept of marketing differ from the old concept of marketing? A. The new concept focuses on having a well-developed product. B. The new concept focuses on making money. C. The new concept requires less work from marketing executives. D. The new concept focuses on the needs of the customer. E. The new concept is more cost efficient.
D. The new concept focuses on the needs of the customer.
Why is good marketing management critical? A. To ensure that products are promoted well enough to encourage a large flow of customers B. To ensure that the company is always on the cutting edge of product development C. To ensure that investments are properly spent in order to maximize profits D. To ensure that the company serves as many customers as it can and as well as it can E. To ensure that the company has a positive image in the eyes of the community
D. To ensure that the company serves as many customers as it can and as well as it can
Which of the following statements is true regarding managing service quality? A. Service quality is easier to define and judge than product quality. B. Customer retention is not related to service quality. C. Service recovery is unimportant in managing service quality. D. Unlike product quality, service quality will always vary. E. Setting standards is not important in delivering service quality.
D. Unlike product quality, service quality will always vary.
Kidcomp, an American computer-manufacturing firm, targets children below the age of ten by providing free games and applications. The firm's marketing approach is reflective of ________ segmentation. A. occasion B. income C. geographic D. age and life cycle E. gender
D. age and life cycle
Marketers must be careful to guard against stereotypes when using ________. A. demographic segmentation B. benefits segmentation C. income segmentation D. age and life cycle segmentation E. psychographic segmentation
D. age and life cycle segmentation
One problem with business-to-business e-procurement is that it _______. A. increases transaction costs B. increases paperwork requirements C. increases the time between order and delivery D. can erode long-standing customer-supplier relationships E. reduces purchasing efficiency
D. can erode long-standing customer-supplier relationships
When a product is in the decline stage of the PLC, a company may reduce various costs (plant and equipment, maintenance, R&D, advertising, sales force), hoping that sales hold up. In other words, they are ________ the product. A. dropping B. milking C. growing D. harvesting E. maintaining
D. harvesting
The Learning Institute recently conducted a brainstorming session that generated a large number of ideas for adding new products and services. Learning Institute managers will most likely use ________ next to arrive at a realistic number of ideas to adopt. A. business analysis B. crowdsourcing C. concept testing D. idea screening E. concept development
D. idea screening
Dividing buyers into groups based on social class, lifestyle, or personality characteristics is called ________ segmentation. A. behavioral B. age and life cycle Your answer is not correct. C. user status D. psychographic E. geographic
D. psychographic
If a segment is large enough or profitable enough to serve, it is ________. A. actionable B. accessible C. measurable D. substantial E. differentiable
D. substantial
Many marketers think that companies should aggressively promote only one benefit to the target market. The benefit promoted is known as a(n) ________. A. unique product proposition B. unique benefit proposition C. unique difference proposition D. unique selling proposition E. unique position proposition
D. unique selling proposition
To create value for customers, marketers must improve the performance of the ______, which includes partnering with suppliers, distributors, and customers. A. strategic plan B. marketing system C. competitive delivery network D. value delivery network E. internal value chain
D. value delivery network
Intuit follows a "Design for Delight (D4D)" development philosophy that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit using? A. Crowdsourcing B. Team-based new product development C. Systematic new product development D. Customer-centered new product development E. Marketing strategy development
D. Customer-centered new product development
Which of the following scenarios BEST describes the societal marketing concept? A. Alice's Apple Cart regularly asks its customers what kind of apples they want to buy. B. Richard's Rotors does everything possible to improve production and lower the cost of its rotors in order to gain customers. C. Tom's Tires constantly tries to improve the tires it sells by placing all its efforts into new design research. D. Ethel's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term. E. Wendy's Wedding Wear frequently promotes itself to customers through commercials, fliers, and other forms of advertising.
D. Ethel's Earthware attempts to make its pottery in a way that satisfies customers but is also environmentally friendly and sustainable over the long term.
Vince's Video has suffered in the current economy because fewer people have the money for videos and because people utilize available technology, including online streaming sites like YouTube and Hulu. The videos Vince's Video does sell are often out priced by versions coming from China or Taiwan, or they are accused of damaging the environment. Which of the following marketing impacts has not likely affected Vince's Video? A. Sustainable marketability B. Rapid globalization C. The digital age D. Not-for-profit marketing E. The changing economic environment
D. Not-for-profit marketing
Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive company? A. Airway Industries filing a lawsuit to keep its competitor from forming a monopoly B. Sander's Shoes staging a breast cancer walkathon to gain favorable press coverage C. Tim's Tobacco creating a blog to help shape public opinion D. Sophie's Soups refusing to counter false allegations of rat feces in its soups E. Richard's Rifles hiring lobbyists to influence gun legislation
D. Sophie's Soups refusing to counter false allegations of rat feces in its soups
Gillette charges a fairly low price for its razors (relative to costs) and a high price for razor blades. It is using a strategy of ___________ pricing. A. by-product B. product-bundle C. two-part pricing D. captive-product E. product line
D. captive-product
What is the first decision made in sales force management? A- Evaluating salespeople B-Trainign salespeople C-Recruting and selecting salespeople D-Compensating salespeople E-Designing sale fore strategy and structure
Designing sale fore strategy and structure
What is the overall goal when retailers choose their product assortment? A. Offer as many products as they can fit on the shelves. B. Differentiate the retailer while matching target shoppers' expectations. C. Only choose products that will maximize profits. D. Offer the same products as their competitors. E. Offer products that will appeal to as many segments as possible.
Differentiate the retailer while matching target shoppers' expectations.
The biggest involvement in a foreign market comes through ________ of the development of foreign-based assembly or manufacturing facilities. A. contract manufacturing B. direct investment C. joint venturing D. management contracting E. licensing
Direct Investment
Which of the following are common trade promotion tools? A- Rebates, samples, coupons and price packs B-Discounts, free goods, allowances and free advertising specialty items C- Discounts, Free goods, coupons and rebates D- Rebates, discounts, free goods, and allowances E- Discounts, free goods, allowances and price packs
Discounts, free goods, allowances and free advertising specialty items
In which type of buying situation will a buyer usually go through all the stages of the business buying process? A. A modified rebuy B. The purchase of raw materials C. A straight rebuy D. The purchase of a business service E. A new task buying situation
E. A new task buying situation
Kroger sponsors such brands as Private Selection, Heritage Farm, and Simple Truth. Kroger does not manufacture any of these products. Which type of brand sponsorship is Kroger using? A. A national brand B. A licensed brand C. A co-brand D. A manufacturer's brand E. A private brand
E. A private brand
Scott Frost has been coming to Adeline's Diner for 20 years and refuses to go anywhere else. Ada, the owner of Adeline's, loves Scott's loyalty but admits he purchases only a cup of cappuccino each visit. Scott would BEST be described as which of the following? A. True friend B. Stranger C. True believer D. Butterfly E. Barnacle
E. Barnacle
The website leftyslefthand.com markets products to left-handed consumers only. Which targeting strategy does this represent? A. Differentiated marketing B. Micromarketing C. Undifferentiated marketing D. Segmented marketing E. Concentrated marketing
E. Concentrated marketing
Which of the following statements is true regarding initiating price cuts? A. Cutting price has no effect on costs. B. When faced with falling demand, firms should not cut prices. C. Firms never cut prices; they only raise them. D. If faced with excess capacity, a firm should not cut its price. E. Cutting prices in an industry loaded with excess capacity may lead to price wars.
E. Cutting prices in an industry loaded with excess capacity may lead to price wars.
What is the nature of demand in business markets? A. Demand in business markets is elastic. B. Demand in business markets does not fluctuate. C. Demand in business markets fluctuates less than in consumer markets. D. Business market demand is independent of consumer market demand. E. Demand in business markets is derived demand.
E. Demand in business markets is derived demand.
Numbering 49 million or more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes experience, not acquisition. A. Echo boomers B. Baby boomers C. Generation Z D. Senior citizens E. Generation X
E. Generation X
Sales are rising rapidly, competitors are growing in number and the customers are early adopters. Which stage of the PLC does this describe? A. Decline B. Introduction C. Maturity D. Product development E. Growth
E. Growth
Which of the following statements regarding the business market is correct? A. The business market has more buyers than the consumer market. B. In the business market buying process, buyers and sellers are less dependent on each other than in the consumer market. C. Business buying decisions are less complex than consumer buying decisions. D. The business market is not as large as the consumer market in terms of dollars spent and items purchased. E. Many sets of business purchases are made for one set of consumer purchases.
E. Many sets of business purchases are made for one set of consumer purchases.
Most products are at which stage of their product lifecycle? A. Decline B. Introduction C. Product development D. Growth E. Maturity
E. Maturity
_________ is NOT a characteristic important in influencing an innovation's rate of adoption. A. Relative advantage B. Communicability C. Complexity D. Divisibility E. Motivation
E. Motivation
Which of the following would make a segment less attractive to enter? A. Buyers with weak bargaining power B. A lack of aggressive competitors C. Suppliers with weak bargaining power D. Very few substitute products E. New entrants finding it easy to enter the segment
E. New entrants finding it easy to enter the segment
Connie's Cupcakes has started to grow larger than Connie could ever have imagined. She is having a hard time keeping track of all of the business' marketing activities. She knows that she is going to need help to keep her business growing and is looking to hire. Whom should Connie hire? A. Cash Money, a well-educated accountant who would begin working as the new chief financial officer B. Frances French, her best friend and fellow entrepreneur who would come on as an additional chief executive officer C. Craig Moore, an extremely successful entrepreneur who is actually looking to buy out Connie and grow the business exponentially D. Tim Forrest, an operations specialist who would be hired as the new chief operating officer E. Noah Lopez, a marketing specialist who would be hired as Connie's new chief marketing officer
E. Noah Lopez, a marketing specialist who would be hired as Connie's new chief marketing officer
__________ show consumer perceptions of their brands versus those of competing products on important buying dimensions. A. Target segment maps B. Competitively positioned maps C. Psychographic maps D. Competitive maps E. Perceptual positioning maps
E. Perceptual positioning maps
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers response to the allegations? A. Steadfast B. Reactive C. Passive D. Determinative E. Proactive
E. Proactive
Which of the following is NOT one of the marketing management functions? A. Analysis B. Implementation C. Control D. Planning Your answer is not correct. E. Promoting
E. Promoting
_________ refers to the degree to which innovation appears superior to existing products. A. Communicability B. Compatibility C. Complexity D. Divisibility E. Relative advantage
E. Relative advantage
Your local pizzeria promises "Delivery in 30 minutes or less or the pizza is free." What point of differentiation is this? A. Channel differentiation B. Image differentiation C. Product differentiation D. People differentiation E. Services differentiation
E. Services differentiation
Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation? A. Run an ad campaign on the health benefits of pizza. B. Sell a different food product, such as hamburgers or sushi. C. Be proactive and convince customers that "exotic is better." D. Cut the prices on its pizza. E. Target a new market with a different product.
E. Target a new market with a different product.
How has the Internet MOST affected companies and customers? A. The Internet has made advertising easier. B. The Internet has increased the potential customer base. C. The Internet has made creating an image more important. D. The Internet has lowered prices. E. The Internet has allowed consumers to take marketing content and share it.
E. The Internet has allowed consumers to take marketing content and share it.
What determines if a buyer is satisfied or dissatisfied with a purchase? A. How others feel about the purchase B. The number of alternatives considered in the purchase decision C. The amount of information gathered in the decision process D. Whether or not the buyer experiences cognitive dissonance E. The relationship between the consumer's expectations and the product's perceived performance
E. The relationship between the consumer's expectations and the product's perceived performance
Why is marketing return on investment so difficult to measure? A. Marketing dashboards are inconsistent. B. Customer-centered measures are inconvenient. C. Customer engagement is hard to measure. D. Marketers do not keep adequate records. E. There is no consistent definition.
E. There is no consistent definition.
Which of the following is a pure tangible good? A. A spa treatment B. Financial advice C. A medical checkup D. A meal at a restaurant E. Toothpaste
E. Toothpaste
Geared2Beer, a craft beer brand, identifies a market segment that is willing to pay premium prices for its craft beer, and Geared2Beer managers select an ideal selling price. Managers then determine the costs to create craft beer that meets the ideal selling price. The company's pricing approach is referred to as ________. A. cost-plus pricing B. target return pricing C. EDLP D. value-added pricing E. target costing
E. target costing
Which of the following statements about service marketing is correct? A. Companies should strive to streamline services to increase efficiency. B. Due to the variability of services, top service companies set modest service-quality standards. C. It is easier to define service quality than product quality. D. Service marketers do not need to differentiate their offerings. E. Training current employees better and hiring new ones with more skills can increase service productivity.
E. Training current employees better and hiring new ones with more skills can increase service productivity.
A brand new hardware company is writing its mission statement. Which of the following is the BEST mission statement possible for the new company? A. We embrace the deeper meaning of the home and commercial improvements. B. We are providers of hardware, lumber-based, and appliance products to be used for home improvement and commercial construction projects. C. We will have two million dollars in profit by the end of our second fiscal year and twice that amount by the end of year five. D. We will be the best hardware company in the world. No other company will ever outsell us. E. We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses.
E. We will help customers build, invigorate, restore, refurbish, or completely redesign their homes or businesses.
Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial situation? A. Reexamine its relationship with its resellers B. Find a new physical distribution firm C. Analyze the finances of one of its competitors D. Devise a marketing plan with a marketing service agency E. Work out a plan with its financial intermediaries
E. Work out a plan with its financial intermediaries
UPS charges different prices for shipping depending on an item's destination. The more distant the city the package is being shipped to, the higher the price UPS charges. Which geographic pricing method is UPS using? A. FOB origin B. Base-point pricing C. Uniform-delivered pricing D. Freight-absorption pricing E. Zone pricing
E. Zone pricing
n the early 1970's, Gary Dahl sold pet rocks. The product had a short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product popularity, but then sales declined very quickly. The PLC sales pattern for pet rocks is known as ______. A. a normal product life cycle curve B. a fashion C. a failure D. a style E. a fad
E. a fad
Through _____ a company can obtain new products by buying a whole company, a patent, or a license to produce someone else's product. A. idea generation B. new product development C. product life cycle strategies D. internal R&D E. acquisition
E. acquisition
After ideas are screened, the next stage of the new product development process is _____. A. test marketing B. idea generation C. commercialization D. product development E. concept development and testing
E. concept development and testing
Heeltoe, a boutique that caters to the footwear needs of women, manufactures two different lines of footwear based on the purchasing power of its customers. One product line caters to the needs of affluent, middle-aged women, and the other line targets younger professionals and homemakers. Heeltoe most likely segments the consumer market based on ________ variables. A. behavioral B. psychographic C. universal D. geographic E. demographic
E. demographic
Companies that use ________ continually adjust prices to meet the characteristics and needs of individual customers and situations. A. psychological pricing B. cash rebates C. segmented pricing D. promotional pricing E. dynamic pricing
E. dynamic pricing
A company launching a new product at the commercialization stage of new product development must first decide on ___________. A. the target market B. profit goals C. market share goals D. the value proposition E. introduction timing
E. introduction timing
Identifying, describing and promoting the product are three functions of ______. A. packaging B. design C. support services D. product lines E. labeling
E. labeling
When consumers respond in a similar way to a given set of marketing efforts, they can be referred to as a(n) _________. A. market B. target market C. value chain D. differentiation E. market segment
E. market segment
Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of short-listed ideas will be adequately rewarded. In this case, Goldtone is using ________ to generate new product ideas. A. business analysis B. crowdsourcing C. test marketing D. concept development E. marketing strategy development
E. marketing strategy development
Selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business is an illegal practice called _______. A. deceptive pricing B. price maintenance C. price fixing D. price discrimination E. predatory pricing
E. predatory pricing
Over the years, U.S. air carriers have been accused numerous times of collusion when setting prices. This illegal practice is called _______. A. retail price maintenance B. deceptive pricing C. price discrimination D. predatory pricing E. price fixing
E. price fixing
The purpose of business legislation is primarily based on ________. A. education B. rehabilitation C. punishment D. guidance E. protection
E. protection
When Dr. Lawncare developed his revolutionary new solar powered lawnmower, he knew that during the introductory stage of the product lifecycle ___________. A. sales would be low but profits would be high B. profits would rise quickly and there would be rapid market acceptance of his product. C. sales would be slow and profits would level off or decline D. sales would fall and profits would drop E. sales would be slow and profits non-existent
E. sales would be slow and profits non-existent
All the people involved in the buying decision in an organization are collectively known as _______. A. buying actors B. buying agents C. the purchasing team D. the buying nucleus E. the buying center
E. the buying center
Sadie's Restaurant has listened to its customers over the years and is now able to offer the right combination of quality and good service at a fair price. Which pricing strategy is Sadie's using? A. Cost-based pricing B. High-low pricing C. Breakeven pricing D. Value added pricing E. Good-value pricing
E. Good-value pricing
Many state colleges and universities charge one price for in-state students and a higher price for out-of-state students. Which form of segmented pricing are these schools using? A. product form pricing B. customer-segment pricing C. time-based pricing D. promotional pricing E. location-based pricing
E. location-based pricing
A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use? A. psychological pricing B. captive-product pricing C. product bundle pricing D. market-skimming pricing E. market-penetration pricing
E. market-penetration pricing
A car buyer can choose a base model at one price, or one with a premium sound and navigation system at a higher price. This is an example of _______ pricing. A. product line B. product-bundle C. captive-product D. by-product E. optional-product
E. optional-product
Which of the following is a demographic factor indicator of market potential? A. Income distribution B. Industrial infracture C. Education D. Natural resources E. GDP size and growth
Education
_________ is a demographic characteristic. A. Transportation structure and market accessibility B. Country size C. Climate D. Education E. Population density (urban and rural)
Education
What is the final step in the seven step personal selling process? A-prospecting B-PResentation C-Closing D-Follow-Up E-Qualifying
Follow-Up
Which of the filling are objectives of trade promotions? A- Getting ore sales force support for current or new products and getting sales people to sign up new accounts B- Getting retails to carry new items and more inventory, buy ahead, or promote the company products and give them more shelf space C- Generating business leads, stimulating purchases, rewarding sutlers, and motivating salespeople. D- Boosting consumer brand involvement and shote term buying E- Urging short term customer buying and gaining customer loyalty
Getting retails to carry new items and more inventory, buy ahead, or promote the company products and give them more shelf space
________ economies are major exporters of manufactured goods, services, and investment funds. A. Raw material exporting B. Income distribution C. Emerging D. Industrial E. Subsistence
Industrial
Full-line forcing is a practice whereby a producer agrees to sell a brand to a dealer only if the dealer agrees to sell some or all of the rest of its line. Which of the following statements is true regarding full-line forcing? A. It may or may not be legal. B. It is only legal in New York, California and Texas. C. It is always illegal. D. It is always legal. E. It is only illegal in Europe.
It may or may not be legal.
University Boutiques promotes its brand in new international markets by providing rights to local boutiques to use its patented designs and brand name. In this case, University Boutiques' market-entering strategy is referred to as ________. A. contract manufacturing B. exporting C. management contracting D. joint ownership E. licensing
Licensing
Which of the filling statement about personal selling is correct? A- Salespeople represent the company to customers, but they do not represent customers to the company B-Many customers are unable to distinguish the salesperson from the company C-Peronsal selling is a fairly new profession D-The role of personal selling is very consistent from company to company E- Personal selling is the nonperonal arm of the promotional mix.
Many customers are unable to distinguish the salesperson from the company
Which of the following statements about retailer marketing decisions is correct? A. Most retailers seek either high markups on higher volume or low markups on lower volume. B. Retailers do not differentiate themselves on their service mix. C. Retailers do not have to segment and target their markets. D. Stores do not need to differentiate and position themselves. E. Many retailers identify three critical factors for retail success: location, location, and location.
Many retailers identify three critical factors for retail success: location, location, and location.
Which of the following is a reason that producers use marketing channels and channel intermediaries? A. Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers. B. The reduced costs of using channel intermediaries offsets the inefficiencies of marketing channels. C. Using marketing channels allows producers to retain control over how and to whom they sell their products. D. Marketing channel decisions only require a short-term commitment. E. Using channel intermediaries increases the number of contacts with customers.
Marketing channel members are able to transform the assortments of products made by producers into the assortments wanted by consumers.
___________ are the largest single group of wholesalers, accounting for roughly 50 percent of all wholesaling. A. Agents B. Brokers C. Manufacturers' agents D. Merchant wholesalers E. Manufacturers' representatives
Merchant wholesalers
Which of the following statements about big data is correct A. Analyzing big data will always lead to useful customer insights. B. One result of big data is that marketing managers are often overloaded and overwhelmed with information. C. Big data actually refers to very small data sets. D. Big data is very important because marketers today need more information to make good decisions. E. Analyzing big data is a very easy task.
One result of big data is that marketing managers are often overloaded and overwhelmed with information.
Which of the following statements about major retail trends is true? A. The lifecycle of new retail forms is getting longer. B. The global expansion of major retailers into other countries has slowed down. C. Retail convergence has decreased competition for retailers. D. Online buying is growing at a much brisker pace than retail buying as a whole. E. The green movement has not yet affected retailing.
Online buying is growing at a much brisker pace than retail buying as a whole.
Its time for the Super Bowl, and the end-of-the-ailse displays at the supermarket feature chips, dips, and soft drinks. What type of sales promotion tool is this? A- Allowance B- Point of Purchase C- Sample D- Sponsorship E- Premium
Point of Purchase
_______ is(are) demographic characteristic indicators of market potential. A. National priorities B. Government bureaucracy C. Monetary and trade regulations D. Population size and growth E. Political stability
Population size and growth
Most companies today want their salespeople to -----, which means demonstrating and delivering superior customer value and capturing a return on that value that is fair for bother the customer and the company. A- Capture short-term business B- Close Sales C- Cut prices to make the sale D- Practice value selling E- Use a transaction-oriented sales approach
Practice value selling
One customer promotion tool is ----, which are good offered free or at a low cost as an incentive to buy a product. A Rebates B Advertising specialties C Coupons D Point-of-Purchase promotions E Premiums
Premiums
In the whole-channel concept for international marketing, which of the following is NOT a global value delivery network? A. Final user or buyer B. International seller C. Price escalation D. Channels within nations E. Channels between nations
Price Escalation
________ is when a company adds the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to its factory price. A. Product adaptation B. Price escalation C. Product invention D. Communication adaptation E. Straight extension
Price Escalation
GE healthcare employs different sales forces for diagnostic imaging, life sciences, and integrated IT products and services. GE Healthcare has adopted a(n) ----- sales force structure. A- complex B- Customer C- Territorial D- Market E- Product
Product
________ involves changing the products to meet local requirements, conditions, or wants. A. Promotion B. Communication adaption C. Price D. Product adaptation E. Product invention
Product Adaptation
The retail marketing mix consists of which of the following? A. Product and service assortment, retail prices, promotion, and retail targeting B. Product and service assortment, retail prices, promotion, and location C. Product and service assortment, retail prices, promotion, and store positioning D. Product and service assortment, retail prices, promotion and store differentiation. E. Product and service assortment, retail prices, promotion, and retail segmentation
Product and service assortment, retail prices, promotion, and location
Retailers must decide on which three major product variables? A. Product assortment, services mix, and store atmosphere B. Product assortment, store atmosphere, and price C. Product assortment, services mix, and location D. Product assortment, price, and location E. Product assortment, services mix, and price
Product assortment, services mix, and store atmosphere
Countries can set ________, which is a limit on the amount of foreign imports that they will accept in certain product categories. A. a tariff B. nontariff trade barriers C. a quota D. duties E. exchange controls
Quota
Which technology could one day make the entire supply chain intelligent and automated? A. Vendor managed inventory B. Electronic data interchange C. Just-in-time D. Radio frequency identification E. Third party logistics
Radio frequency identification
The purpose of a tariff is to ________. A. protect local employment B. increase the amount of foreign imports C. provide competition to local industry D. raise revenue E. increase the amount of foreign exchange
Raise revenue
Which consumer promotion tools is like coupons except that the price reduction occurs after the purchase rather than at the retail outlet? A. Samples B. Premiums C. Contests D. Rebates E. Digital Coupons
Rebates
________ refers to the activities involved in selling products or services directly to final consumers for their personal, nonbusiness use. A. Wholesaling B. Warehousing C. Manufacturing D. Retailing E. Shopper marketing
Retailing
______ involves reusing, recycling, refurbishing, or disposing of broken, unwanted, or excess products returned by consumers or resellers. A. Inventory management B. Outbound logistics C. Inbound logistics D. Reverse logistics E. Warehousing
Reverse logistics
Which of the following statements is true regarding sellers and their use of direct and digital marketing? A.For sellers, using direct and digital marketing is expensive. B.Sellers have opportunities to engage in real-time marketing. C.For sellers, direct and digital marketing is inflexible. D.Sellers using direct and digital marketing cannot solicit questions and feedback from customers. E.For sellers, direct and digital marketing is very inefficient.
Sellers have opportunities to engage in real-time marketing.
How does Google earn approximately 90% of its revenues? A.Selling search results B.Selling subscriptions to the site. C.Selling information to technology businesses D.Selling contextual advertising E.Through fund-raising
Selling contextual advertising
_______ involves focusing the entire marketing process toward turning shoppers into buyers as they approach the point of sale. A. Retailing B. Warehousing C. Internal marketing D. Shopper marketing E. Showrooming
Shopper marketing
Which of the following statements about mobile marketing is correct? A.Most smartphone owners do not use mobile apps. B.Like other types of advertising, mobile ads are not very engaging. C.Mobile marketing is not used by companies to stimulate immediate buying. D.Mobile advertising spending in the U.S. is declining. E.Smartphones can be very useful in shopping situations.
Smartphones can be very useful in shopping situations.
What is the fastest growing sale trend today? A- Social Selling B- Team selling C- Telemarketing D- Outside Sales E - Eliminating expense reports
Social Selling
Which type of retailer carries a narrow product line with deep assortments within those lines? A. Supermarkets B. Specialty stores C. Convenience stores D. Department stores E. Superstores
Specialty stores
_________ offer(s) few market opportunities. A. Joint ownership B. Management contracting C. Licensing D. Contract manufacturing E. Subsistence economies
Subsistence economies
Which channel partners in a company's supply chain are upstream from a manufacturer or producer? A. Wholesalers B. Retailers C. Business distributors D. Customers E. Suppliers.
Suppliers
Which of the filling statement is true regarding salespeople? A- Salespeople do not play a role in solving customer problems. B- The best salespeople are the ones who work closely with customers for mutual gain. C - Salespeople are not well educated D- Most salespeople lack common sense and social skills E-Salespeople must be fast talkers.
The best salespeople are the ones who work closely with customers for mutual gain.
Which of the following statements about sales promotions is correct? A. Sales promotions are only offered to customers. B. Companies that use sales promotions usually do not use any other promotional mix tool. C. The growing use of sales promotion has resulted in promotion clutter. D. The Use of sales promotions has declined in recent years. E. Sales promotions offer long-term incentives to buy a product.
The growing use of sales promotion has resulted in promotion clutter.
Which of the following statements about shopping centers is correct? A. Retailers in a shopping center are independently owned and managed. B. Shopping centers cannot have more than 10 stores because of zoning laws. C. Shopping centers are only found in rural areas. D. Banks cannot be part of a shopping center. E. The most common type of shopping center is a strip mall.
The most common type of shopping center is a strip mall.
Which wholesaler channel function helps reduce inventory holding costs and the risks of suppliers and customers? A. Financing B. Warehousing C. Transportation D. Buying and assortment building E. Risk bearing
Warehousing
what are the two major elements in developing advertising strategy? a. creating advertising messages and selecting advertising media b. creating advertising messages and setting the advertising budget c. creating advertising messages and selecting advertising agencies d. determining the advertising budged and evaluating results e. determining the target audience and selecting advertising media
a. creating advertising messages and selecting advertising media
which of the following statements regarding the changing communications landscape is correct? a. the dominance of television, magazines, newspapers and other traditional mass media is declining. b. the digital age has had little impact on marketing communications c. more than ever, consumers are relying on marketers for information d. in terms of communication, today's consumers are less empowered e. marketers today are shifting their efforts to mass marketing
a. the dominance of television, magazines, newspapers and other traditional mass media is declining.
advertising appeals should have three characteristics. these characteristics are: a. to be meaningful, to be believable, and to be distinctive b. to be meaningful, to be distinctive, and to use scientific evidence c. to be meaningful, to be believable, and to use scientific evidence d. to be believable, to be distinctive and to be consumer generated e. to be meaningful, to be believable, and to be humorous
a. to be meaningful, to be believable, and to be distinctive
what is the goal of a pull strategy? a. to build consumer demand b. to build trade demand c. to give channel members incentives to carry the product d. to increase sales calls to distributros e. to save money by only focuing on consumers
a. to build consumer demand
in the promotion mix, _________ refers to any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. a. advertising b. personal selling. c. public relations d. crowdsourcing e. sales promotion
advertising
Many companies build extensive electronic collections of consumer and market information obtained from data sources within the company's network. This is known as A. online marketing research B. marketing intelligence C. marketing research D. an internal database E. an intranet
an internal database
specific promotional tools used in _________- include direct mail, catalogs, online and social media, mobile marketing, and more. a. advertising b. direct and digital marketing c. personal selling d. sales promotion e. public relations
b. direct and digital marketing
generally, ___________ is a company's most expensive promotional tool. a. sales promotion b. personal selling c. public relations d. direct and digital marketing e. advertising
b. personal selling
Venezuela produces oil in surplus, whereas Guyana produces rice in surplus and El Salvador produces coffee in surplus. These nations have little hard currency to pay for purchases from other countries and frequently exchange involves a(n) ________. A. quota B. tariff C. barter D. fine E. excise
barter
The primary purpose of _________ websites is to present brand content that engages consumers and creates customer-brand community. A.content B.branded community C.e-mail D.search engine E.marketing
branded community
which of the following statements is correct regarding the use of advertising as a promotional tool? a. advertising allows marketers to communicate with buyers in a personal way b. advertising can reach masses of people only if they are geographically concentrated c. consumers tend to view advertised products as more legitimate d. advertising reaches many people slowly e. the cost per exposure of advertising is high
c. consumers tend to view advertised products as more legitimate
which advertising objective is used heavily when introducing a new product category? a. comparative b. persuasive c. informative d. reminder e. attack
c. informative
Superstores that are actually giant specialty stores and have seen tremendous growth recently are called _______. A. category killers B. discount stores C. supermarkets D. service retailers E. off-price retailers
category killers
A(n)_______ is a layer of intermediaries that performs some work in bringing the product and its ownership closer to find the final buyer. A. marketing channel B. supply chain C. channel level D. contact E. value delivery network
channel level
In the whole-channel view of distribution, the first link, ________, moves company products from points of production to the borders of countries within which they are sold. A. channels between nations B. channels within nations C. price D. communication adaptation E. promotion
channels between nations
In the whole-channel view of distribution, the second link, _________, moves products from their market entry points to the final consumers. A. final user or buyer B. global value delivery network C. channels within nations D. communication adaptation E. channels between nations
channels within nations
A(n) _____ is made up of one or more independent producers, wholesalers, retailers, and consumers. A. channel level B. franchise C. administered vertical marketing system D. conventional distribution channel E. corporate vertical marketing system
conventional distribution channel
Sherwin-Williams sells its paint and other branded products exclusively through company-owned retail stores. Sherwin-Williams has established a(n) _________. A. vertical marketing system B. administered VMS C. conventional distribution channel D. contractual VMS E. corporate VMS
corporate VMS
logos, stationery, brochures, signs, business forms, business cards, buildings, uniforms, and company cars and trucks are examples of which promotional tool? a. news b. public service activities c. written materials d. corporate identity materials e. special events
corporate identity materials
Which form of marketing involves engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships? A.advertising B.Public relations C.Personal selling D.Direct and digital marketing E.Sales promotion
direct and digital marketing
which promotional tool is best suited to deliver a personalized and immediate message to a specific customers or customer community? a. public relations b. advertising c. sales promotion d. direct marketing e. personal selling
d. direct marketing
one popular method of branded entertainment is __________, which embeds brands as props within other programming, for example, television shows and movies. a. native advertising b. advertisement c. webisodes d. product placement e. vital marketing
d. product placement
what is the goal of integrated marketing communications? a. to integrate communications via online and mobile technologies b. to have different media carry different messages about a brand c. to maximize return on investment d. to deliver clear, consistent, and compelling messages about the orgization and its brand e. to lower overall marketing expenditures
d. to deliver clear, consistent, and compelling messages about the orgization and its brand
After the presentation and demonstration step in the sales process, a salesperson should next be prepared to -----. A- approach qualified customers B- follow up with the customer C- prospect the customer D- handle objections E- Immediate close the sale
handle objections
Macy's carries several product lines—typically clothing, home furnishings, and household goods—with each line operating as a separate department managed by specialist buyers or merchandisers. Macy's is best described as a(n) ________. A. department store B. off-price retailer C. superstore D. specialty store E. discount store
department store
working with donors or members of nonprofit organizations to gain financial or volunteer support represents which public relations function? a. investor relations b. public affairs c. press relations d. development e. lobbying
development
which promotional tool engages directly with carefully targeting individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships? a. personally selling b. sales promotion c. direct and digital marketing d. public relations e. advertising
direct and digital marketing
________ involves sending an offer, announcement, reminder, or other item to a person at a particular address. A.Catalog marketing B.Telemarketing C.Direct-response television marketing D.Direct-mail marketing E.Kiosk marketing
direct mail marketing
Online marketers taking business from traditional brick-and-mortar retailers is an example of _____. A. horizontal conflict B. vertical conflict C. franchising D. an administered VMS E. disintermediation
disintermediation
Companies like Amazon and Expedia.com that sell products and services directly to final buyers over the Internet are known as _______. A.content sites B.e-tailers C.online social media D.transaction sites E.search-engine portals
e-tailers
one reason integrated marketing communications is necessary is _______. a. consumers can easily distinguish brand content from different sources b. communication channels today are less fragmented than in the past c. companies have always integrated their various communication channels d. messages from companies come from a single source e. consumers don't distinguish between content sources the way marketers do
e. consumers don't distinguish between content sources the way marketers do
the _______ message execution style shows one or more "typical" people using the product in a normal setting. a. fantasy b. mood or image c. lifestyle d. scientific evidence e. slice of life
e. slice of life
The benefits of direct and digital marketing for buyers are that it is _________. A.easy, private and expensive B.convenient, private and hard to use C.easy, convenient and private D.easy, convenient and impersonal E.easy, convenient and public
easy, convenient and private
In a(n) __________economy, fast growth in manufacturing results in rapid overall economic growth. A. raw materials exporting B. emerging C. income distribution D. subsistence E. industrial
emerging
According to the text, _______ is perhaps the biggest advantage of social media. A.user-controlled content B.return on investment C.engagement and social sharing capabilities D.the potential for intrusiveness E.the low cost
engagement and social sharing capabilities
Carefully orchestrating the store's layout and displays, background music, colors, and smells is related to ________. A. green retailing B. online retailing C. social media retailing D. megaretailing E. experiential retailing
experiential retailing
The simplest way to enter a foreign market is through ________. A. direct investment B. importing C. joint venturing D. tariffs E. exporting
exporting
Many companies get involved in several international markets and ventures. They can be __________, with country managers who are responsible for salespeople, sales branches, distributors, and licensees in their respective countries. A. export departments B. international subsidiaries C. international divisions D. world product groups E. geographical organizations
geographical organizations
By practicing ______ retailing, today's retailers are increasingly adopting environmentally sustainable practices. A. independent off-price B. off-price C. experiential D. green E. service
green
H&M recently ran ads that let viewers with certain Samsung smart TVs use their remotes to interact directly with the commercials. This recent form of direct response television marketing is called ________. A. TVsquared2 B.an infomercial C.iTV D.phishing E.TV
iTV
Twenty-Four7, a cosmetic firm located in the United States, markets its products in Asian and European countries through independent distributors. In this case, Twenty-Four7 has entered international markets through ________. A. direct investment B. joint ownerships C. joint venturing D. franchising E. indirect exporting
indirect exporting
Producers of convenience products typically use ______ distribution. A. exclusive B. intensive C. franchise D. direct E. selective
intensive
Because social media are _____, they are ideal for starting and participating in customer conversations and listening to customer feedback. A.interactive B.engaging C.immediate and timely D.cost-effective E.targeted and personal
interactive
To develop needed information, marketing information systems utilize _________. A.marketing intelligence, marketing research, and the marketing environment B.internal databases, marketing intelligence, and marketing research C.internal databases, marketing research, and marketing managers D.marketing managers, information users, and internal databases E.internal databases, big data, and market research
internal databases, marketing intelligence, and marketing research
In compels selling situations, personal selling can be more effective than advertising because it is ----- A- only used for face to face customer interactions B- Designed to reach large groups of consumers C- Nonpersonal D-less engaging than advertising E- interpersonal
interpersonal
____________ is perhaps the toughest public policy issue now confronting the direct marketing industry. A.Invasion of privacy B.Irritation C.Junk mail D.Deceptive pricing E.Deceptive advertising
invasion of privacy
The role of a company's marketing information system (MIS) is important because ______________. A.it ensures that the company will have good customer service B.it allows a company to outperform its competitors in the marketplace C.it enables a company to use customer insights to improve relationships with customers D. it maintains the company's internal database of customers E.it increases the likelihood that a customer will buy a product
it enables a company to use customer insights to improve relationships with customers
Many consumers today rent DVDs from a vending machine called Redbox, which can be found in retail stores and other locations. Redbox is type of direct marketing tool called a(n) _________. A.website B.kiosk C.infomercial D.DRTV E.iTV
kiosk
Which of the following is a form of traditional direct marketing? A.Websites B.Blogs C.Kiosk marketing D.Social media marketing E.Mobile marketing
kiosk marketing
A discount store (for example, Target, Kohl's, or Walmart) sells standard merchandise at lower prices. To do this, discount stores accept which of the following two conditions? A. lower margins and lower sales volume B. higher sales volume and inefficient operations. C. lower margins and higher sales volume D. higher margins and lower sales volume E. operating at a loss and higher sales volume
lower margins and higher sales volume
Geico's website is designed to quickly turn an inquiry into a sale. Geico has designed a(n) ______ website. A.branded community B.e-mail C.marketing D.search engine E.phishing
marketing
One key function performed by channel members is ___________, or shaping offers to meet the buyer's needs, including activities such as manufacturing, grading, assembling, and packaging. A. contact B. matching C. risk taking D. promotion E. negotiating
matching
when advertisers determine the qualitative value of message exposure through a given medium, they are assessing ______. a. media impact b. impressions c. reach d. engagement e. frequency
media impact
Marketers use __________ to engage customers anywhere, anytime during the buying and relationship-building processes. A.online advertising B.permission-based e-mail marketing C.blogs D.mobile marketing E.branded web communities
mobile marketing
A blog is a(n) ______. A.text- and image-based ad and link that appears atop or alongside search engine results B.mobile app C.type of targeted e-mail D.online forum E.type of online advertising
online forum
Webites, online advertising, email, online video, and blogs are all forms of ______ A.telemarketing B.social media marketing C.mobile marketing D.online marketing E.traditional direct marketing
online marketing
Forms of digital and social media marketing include ______. A.telemarketing, face-to-face selling, and kiosk marketing B.telemarketing, direct-mail marketing, and catalog marketing C.direct-response TV marketing, telemarketing and direct-mail marketing D.online marketing, social media marketing, and mobile marketing E.kiosk marketing, telemarketing and direct-response TV marketing
online marketing, social media marketing, and mobile marketing
Companies now use ________ and supply chain management software to help recruit, train, organize, manage, motivate, and evaluate relationships with channel partners. A. partner relationship management B. customer relationship management C. channel management D. distribution E. logistics
partner relationship management
Companies today see channel members as first-line customers and practice strong ________. A. trade promotions B. discount pricing C. consumer advertising D. partner relationship management E. B2B selling
partner relationship management
To avoid being intrusive and annoying, most legitimate e-mail marketers practice ______, which means sending e-mail pitches only to customers who "opt in." A.permission-based e-mail marketing B.phishing C.viral marketing D.spamming E.unsolicited e-mail marketing
permission-based email marketing
which advertising objective is best suited to building selective demand? a. persuasive b. humorous c. attack d. reminder e. informative
persuasive
Consumers may receive an e-mail, supposedly from their bank or credit card company, saying that their account's security has been compromised. The sender asks consumers to log on to a provided Web address and confirm their account and other personal information and then steals this private information. This is a fraudulent practice called ______. A.infomercials B.mobile marketing C.spamming D.phishing E.telemarketing
phishing
the public relations function of _______ is used to build and maintain national or local community relationships. a. public affairs b. development c. lobbying d. press relations e. investor relations
public affairs
specific promotional tools used in __________ include press releases, sponsorships, events, and web pages a. public relations b. sales promotion c. personal selling d. advertising e. direct and digital marketing
public relations
Competitive marketing intelligence uses _________ data sources A. publicly available B. private C. expensive D. internal E. competitor's internal
publicly available
companies who primarily direct their promotional activities to channel members are using a(n) _____ strategy. a. push b. integrated c. product d. pull e. sales force
push
_________ advertising is utilized most often by mature, well-known brands. a. reminder b. informative c. persuasive d. comparative e. attack
reminder
Increasingly, different types of retailers now sell the same products at the same prices to the same consumers. This trend is called ___________. A. retail blending B. megaretailing C. green retailing D. social media retailing E. retail convergence
retail convergence
_________ is a short-term incentive to encourage the purchase or sale of a produce or service. a. public relations b. direct and digital marketing c. sales promotion d. advertising e. personal selling
sales promotion
By performing the channel function of ________, wholesalers' sales forces help manufacturers reach many small customers at a low cost. A. financing B. buying and assortment building C. risk bearing D. selling and promoting E. bulk-breaking
selling and promoting
Hotels and motels, banks, airlines, restaurants, colleges, hospitals, movie theaters, tennis clubs, bowling alleys, repair services, hair salons, and dry cleaners are all examples of ________. A. service retailers B. specialty stores C. franchises D. wholesalers E. non-retailers
service retailers
The practice of coming into retail stores to check out merchandise and prices but making purchases online using a computer or mobile device is called _______. A. off-price retailing B. showrooming C. shopper retailing D. experiential retailing E. mobile retailing
showrooming
One challenge of social media marketing is that ___________. A.it is used for real-time marketing B.social networks are largely user-controlled C.it is cost-effective D.it has not spread globally E.very few companies use it
social networks are largely user-controlled
In a(n) ________ economy, the vast majority of people engage in simple agriculture. A. subsistence B. raw material exporting C. industrializing D. industrial E. emerging
subsistence
Helping sales people to "work smart" by doing the right things in the right ways is the goal of which area of sales force management? A- recruitment B- motivation C- supervision D-Trainign programs E-compensation plans
supervision
When setting channel objectives, companies should state the objectives in terms of ______. A. expected profitability B. competitor's objectives C. exclusive distribution arrangements D. targeted levels of customer service E. the length of the channel
targeted levels of customer service
Justin, Inc., a U.S.-based watch manufacturer, sells its products in China, Russia, France, and India. To manage sales, Justin appoints a number of sales representatives to each location. Justin has adopted a ---- sales force structure. A- product B- territorial C- Complex D- Market E- Customer
territorial
which of the following statements about public relations is correct? a. public relations is only used to promote products b. the impact of public relations on public awareness comes at a much higher cost than advertising c. the liens between advertising and public relations are becoming more and more blurred. d. trade associations do not use public relations e. public relations cannot be used to engage consumers
the liens between advertising and public relations are becoming more and more blurred.
The length of a channel is indicated by ___________. A. the number of wholesalers in the channel B. the number of final consumers C. the number of retailers in the channel D. the number of producers E. the number of intermediary levels
the number of intermediary levels
When the company has defined its channel objectives, it should next identify its major channel alternatives in terms of the types of intermediaries, the number of intermediaries, and __________________. A. economic criteria B. consumer needs C. the responsibilities of channel members D. whether to use intensive or exclusive distribution E. the profitability of the channel
the responsibilities of channel members
Which of the filling occurs during the presentation step in the personal selling process A - The salesperson attempts to "Razzle dazzle" the buyer B- The salesperson closes the deal C - the salesperson tells the buyer a value story D- the salesperson handles the objections E- The salesperson meets the buyer for the first time.
the salesperson tells the buyer a value story
A(n) _______ is made up of the company, suppliers, distributors, and, ultimately, customers who "partner" with each other to improve the performance of the entire system. A. marketing channel B. contact C. channel level D. value delivery network E. supply chain
value delivery network
The digital version of word-of-mouth marketing that involves creating videos, ads, and other marketing content that is so infectious that customers will seek them out or pass them along to their friends is called _______. A.search engine marketing B.online marketing C.omni-channel marketing D.viral marketing E.e-mail marketing
viral marketing