Essentials of Marketing: A Marketing Strategy Planning Approach 14th Edition

Chapter-by-chapter aids: Appendix B Instructors Manual to Accompany Essentials of Marketing IV-B-1 APPENDIX B: MARKETING ARITHMETIC APPENDIX B COMMENTS ON QUESTIONS AND PROBLEMS B- 1. a. Net sales plus returns and allowances equal gross sales. b. Purchases at billed cost, plus transportation, less discounts, equal

Instructors Manual to Accompany Essentials of Marketing V-1 Part V: Comments on Cases in Essentials of Marketing INTRODUCTION This edition of Essentials of Marketing includes two different types of marketing cases: 8 video cases and 36 traditional cases (after Appendix C in the text). This part of

Comments on Cases in Essentials of Marketing Instructors Manual to Accompany Essentials of Marketing V-11 generating increased competition from a number of competing channels. Some of these channels offer reasonably good running shoes and others are probably better at fashion and other types of sneakers. Instructors Manual to Accompany Essentials

Comments on Cases in Essentials of Marketing Instructors Manual to Accompany Essentials of Marketing V-21 Should the firm increase the number of sales reps? Since sales reps are a marginal expense, there is very real advantage from increasing the number of sales reps. However, at present they do not

Comments on Cases in Essentials of Marketing Instructors Manual to Accompany Essentials of Marketing V-31 Instructors Manual to Accompany Essentials of Marketing V-31 Instructors Manual to Accompany Essentials of Marketing V-31 One way to beat this cutthroat competition is to bring out new products continually (at a cost for dies,

Part IV Instructor's Manual to Accompany Essentials of Marketing IV-1-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials of Marketing IV-1-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior

Chapter-by-chapter aids: Chapter 10 Instructors Manual to Accompany Essentials of Marketing IV-10-3 Instructors Manual to Accompany Essentials of Marketing IV-10-3 Instructors Manual to Accompany Essentials of Marketing IV-10-3 A firm that sells installations might want to use direct distribution in its domestic market. Installations are often a high-ticket

Chapter-by-chapter aids: Chapter 10 Instructors Manual to Accompany Essentials of Marketing IV-10-9 P L U S - What If Data Display -Intensive- -Intensive- Percent Profit 14.02 196725.00 14.03 197320.00 14.04 197950.00 14.05 198545.00 14.06 199175.00 14.07 199770.00 14.08 200400.00 14.09 200995.00 14.10 201625.00 14.11 202220.00 14.12 202850.00 CHAPTER 10 COMMENTS

Chapter-by-chapter aids: Chapter 11 Instructor's Manual to Accompany Essentials of Marketing IV-11-3 intermediary who holds inventory and meets the demands of local customers on a just-in-time basis. Air freight may make it feasible for a firm to provide just-in-time delivery in international markets for some products that

Chapter-by-chapter aids: Chapter 12 Instructor's Manual to Accompany Essentials of Marketing IV-12-1 CHAPTER 12: RETAILERS, WHOLESALERS, AND THEIR STRATEGY PLANNING CHAPTER 12 COMMENTS ON QUESTIONS AND PROBLEMS 12- 1. The purpose of this question is to have students recognize a marketing mix for retailers. This also allows

Part IV IV-13-6 Perreault, Cannon, & McCarthy P L U S - What If Data Display -FM Station- -FM Station- -FM Station- Objective Cost per Cost per Buyer Prospect 50.00 0.292 14.586 52.00 0.281 14.017 54.00 0.270 13.510 56.00 0.260 13.020 58.00 0.251 12.581 60.00 0.243 12.155 62.00 0.235 11.758

Chapter-by-chapter aids: Chapter 14 Instructors Manual to Accompany Essentials of Marketing IV-14-1 CHAPTER 14: PERSONAL SELLING AND CUSTOMER SERVICE CHAPTER 14 COMMENTS ON QUESTIONS AND PROBLEMS 14- 1. See Exhibit 14-1. Strategy decisions should be made by the marketing manager because personal selling is only a

Chapter-by-chapter aids: Chapter 13 Instructor's Manual to Accompany Essentials of Marketing IV-13-1 CHAPTER 13: PROMOTION INTRODUCTION TO INTEGRATED MARKETING COMMUNICATIONS CHAPTER 13 COMMENTS ON QUESTIONS AND PROBLEMS 13- 1. See section Which Methods to Use Depends on Promotion Objectives for a discussion of the three methods.

Chapter-by-chapter aids: Chapter 14 Instructors Manual to Accompany Essentials of Marketing IV-14-3 company profits. The initial spreadsheet for the problem is given below: P L U S - Spreadsheet Commission Combination Plan Salary Component of Pay 0.00 15000.00 * PRODUCT A: Price 110.00 * 110.00 * Commission Percent (Of Sales

Chapter-by-chapter aids: Chapter 15 Instructors Manual to Accompany Essentials of Marketing IV-15-3 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructors Manual to Accompany Essentials of Marketing IV-15-3 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Chapter-by-chapter aids: Chapter 16 Instructor's Manual to Accompany Essentials of Marketing IV-16-1 CHAPTER 16: PRICING OBJECTIVES AND POLICIES CHAPTER 16 COMMENTS ON QUESTIONS AND PROBLEMS 16- 1. See Exhibit 16-1 and section Price Has Many Strategy Dimensions. Using an example, this question can be used to

Chapter-by-chapter aids: Chapter 17 Instructor's Manual to Accompany Essentials of Marketing IV-17-1 turnover. Students will give a variety of examples. But, the following answer provided by one student gives you an idea of what to expect in a careful answer: Assume that a traditional retailer charges $1.00 for a tube

Chapter-by-chapter aids: Chapter 18 Instructor's Manual to Accompany Essentials of Marketing IV-18-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials of Marketing IV-18-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Chapter-by-chapter aids: Chapter 18 Instructor's Manual to Accompany Essentials of Marketing IV-18-11 competitors offer very similar products. In pure competition, managers just compete with lower and lower Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials

Chapter-by-chapter aids: Chapter 18 Instructor's Manual to Accompany Essentials of Marketing IV-18-19 D-8. In the EI case, in which stage of the product life cycle do semiconductors appear to be? A) Market maturity B) Sales decline C) Market introduction D) Market growth Answer: A AACSB: Analytic Level of Difficulty: 2

Chapter-by-chapter aids: Chapter 1 IV-1-10 Perreault, Cannon, & McCarthy QUESTION WITH THIS CHAPTER Note: The Creating Marketing Plans questions begin in Chapter 2 CHAPTER 1 SUMMARY OF CONNECT HOMEWORK EXERCISES Question 1: Universal Functions of Marketing Question Type: Click And Drag Learning Objectives: 1.3 Topic: Macro-marketing AACSB: Technology Blooms: Apply

Chapter-by-chapter aids: Chapter 2 Instructor's Manual to Accompany Essentials of Marketing IV-2-9 is maintained). Or, if the original $2.00 per unit distribution cost is used in the spreadsheet, the profit will increase to $50,000. This analysis shows that the target marketer who can really fine-tune his marketing mix

Chapter-by-chapter aids: : Chapter 3 Instructor's Manual to Accompany Essentials of Marketing IV-3-5 short-term but softer in the long term. Makers of other products may want to have a longer- term plan to evolve their product lines as this group ages. This group is made up of many Millennials (Gen

Chapter-by-chapter aids: Chapter 4 Instructor's Manual to Accompany Essentials of Marketing IV-4-1 CHAPTER 4: FOCUSING MARKETING STRATEGY WITH SEGMENTATION AND POSITIONING CHAPTER 4 COMMENTS ON QUESTIONS AND PROBLEMS 4- 1. A generic market is a market with broadly similar needs and sellers offering diverse ways of satisfying

Chapter-by-chapter aids: Chapter 4 Instructor's Manual to Accompany Essentials of Marketing IV-4-7 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials of Marketing IV-4-7 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Chapter-by-chapter aids: Chapter 5 Instructor's Manual to Accompany Essentials of Marketing IV-5-3 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials of Marketing IV-5-3 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Chapter-by-chapter aids: Chapter 6 Instructors Manual to Accompany Essentials of Marketing IV-6-1 CHAPTER 6: BUSINESS AND ORGANIZATIONAL CUSTOMERS AND THEIR BUYING BEHAVIOR CHAPTER 6 COMMENTS ON QUESTIONS AND PROBLEMS 6- 1. The answer to this question is discussed in the section Organizational Customers Are Different but

Chapter-by-chapter aids: Chapter 7 Instructors Manual to Accompany Essentials of Marketing IV-7-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructors Manual to Accompany Essentials of Marketing IV-7-1 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Chapter-by-chapter aids: Chapter 8 Instructor's Manual to Accompany Essentials of Marketing IV-8-1 CHAPTER 8: ELEMENTS OF PRODUCT PLANNING FOR GOODS AND SERVICES CHAPTER 8 COMMENTS ON QUESTIONS AND PROBLEMS 8- 1. See section What Is a Product? The main emphasis here should be on the student

Chapter-by-chapter aids: Chapter 8 Instructor's Manual to Accompany Essentials of Marketing IV-8-7 Students often see branding decisions as obvious but the perspective gained by doing this problem helps them to see important aspects of these decisions that arent so obvious "on the surface. The problem provides a very good basis

Chapter-by-chapter aids: Chapter 9 Instructor's Manual to Accompany Essentials of Marketing IV-9-1 CHAPTER 9: PRODUCT MANAGEMENT AND NEW-PRODUCT DEVELOPMENT CHAPTER 9 COMMENTS ON QUESTIONS AND PROBLEMS 9- 1. This is just a review question. See section Managing Products over Their Life Cycles for relationships. It is important to

Chapter-by-chapter aids: Chapter 9 Instructor's Manual to Accompany Essentials of Marketing IV-9-7 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Instructor's Manual to Accompany Essentials of Marketing IV-9-7 Copyright 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without

Considering that only a small percentage of cell phone users in many developed countries have smartphones, advertisers are wary about the effectiveness of delivering online ads on smartphones. Answer: FALSESmartphones are becoming increasingly ubiquitous in many developed countries. In the U.S., more than three out of four 18-34-year-olds have a smartphone.

Use this information for question that refer to the Pricing 1 case. (WPI) case. As a project for her marketing class, Emily Washington is researching how five local businesses price their products. The following are brief sketches of what she has learned about each company. At Bella Computers, Emily has discovered that the

Regarding bid pricing: A. the same overhead charges and profit rates should apply to all bids-to avoid legal problems. B. most firms should try to bid for as many jobs as possible-to spread risk. C. all business buyers are legally required to accept the lowest bid-if they ask for bids. D. the big problem

When an individual producer sets a price for its product to earn a certain profit while consumers search for the product at the lowest price available from any producer, this is an example of: A. separation in time. B. discrepancy of quantity. C. separation in values. D. discrepancy of assortment. E. spatial separation. Answer: C.In separation in

Most Western economies are completely market-directed. Answer: FALSEThe American economy and most other Western economies are mainly market-directed, but not completely. FALSEThe American economy and most other Western economies are mainly market-directed, but not completely. FALSE The American economy and most other Western economies are mainly market-directed, but not completely. Despite the functions they provide,

A major accounts sales force is used when a company wants to be certain that its most important customers get a special selling effort. Answer: TRUEVery large customers often require special sales efforts and relationships with them are treated differently. A major accounts sales force sells directly to large accounts. TRUEVery large

The EARLY MAJORITY have a lot of contact with: A. innovators. B. the mass media only. C. the mass media, salespeople, and early adopter opinion leaders. D. impersonal and scientific information sources. E. salespeople only. Answer: C.The early majority have a great deal of contact with mass media, salespeople, and early adopter opinion leaders. Members usually

Marketing specialists such as intermediaries and collaborators hinder the exchange process between producers and consumers. Answer: FALSEExchanges are often easier or less expensive when a marketing specialist performs some ofthe marketing functions. FALSEExchanges are often easier or less expensive when a marketing specialist performs some ofthe marketing functions. FALSE Exchanges are often easier or

The majority of all retailers in the U.S. have annual average sales of less than $1 million. Answer: TRUEJust over half of all the retail stores in the United States have annual sales of less than $1 million, as per the last census of retailers. TRUEJust over half of all the retail

Business professional services: A. may not be purchased outside the firm if they are needed regularly. B. support a firm's operations. C. are offered by a growing number of specialists. D. are generally treated as expense items. E. All of these alternatives are correct. Answer: E.Professional services are specialized services that support a firm's operations and

A firm is most likely to rely on customer relationship management (CRM) approaches when it does not have a database of information on individual customers. Answer: FALSEWith customer relationship management (CRM), the seller finetunes the marketing effort with information from a detailed customer database. This usually includes data on a customer's

Which of the following is an example of a limited-function merchant wholesaler? A. Cash-and-carry wholesaler B. Broker C. Mill supply house D. General-line wholesaler E. Specialty wholesaler Answer: A.Limited-function wholesalers include cash-and-carry wholesalers, truck wholesalers, drop-shippers, rack jobbers, and catalog wholesalers. A.Limited-function wholesalers include cash-and-carry wholesalers, truck wholesalers, drop-shippers, rack jobbers, and catalog wholesalers. A. Limited-function wholesalers include cash-and-carry

The economic-buyer theory assumes that consumers know all the facts and logically compare choices. Answer: TRUEThe economic-buyer theory assumes that consumers are economic buyers-people who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money. TRUEThe economic-buyer theory assumes that consumers are economic

An established merchant wholesaler of business supplies would rely mainly on: A. merchandisers. B. order takers. C. order getters. D. supporting salespeople. E. missionary salespeople. Answer: B.While producers' order takers usually handle relatively few items, wholesalers' order takersoften sell thousands of items. So an established merchant wholesaler of business supplies would rely mainly on order takers. B.While

Merging two or more submarkets into one larger target market as a basis for one strategy is known as the ____ target market approach. A. particular B. multiple C. combined D. compound E. blended Answer: C.Combining two or more submarkets into one larger target market as a basis for one strategy is known as combined target

The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate. She must plan her offerings with the _____ environment in mind. A. economic B. social C. technological D. cultural E. legal Answer: A.In the economic environment, interest rates directly affect

Compared to a product-market, a generic market: A. Is more narrowly defined. B. Has sellers offering a more diverse set of products. C. Can never help marketers identify opportunities. D. None of these is a good answer. Answer: B.A generic market is a market with broadly similar needsand sellers offering various, often diverse, ways of

In the U.S., about three-fourths of new retailing ventures fail during the first year. Answer: TRUEIn the United States, about three-fourths of new retailing ventures fail during the first year, as beginning retailers just rent a store and assume customers will show up. TRUEIn the United States, about three-fourths of new retailing

Which of the following publicity tools would a software company most likely use in order to target commercial press? A. Customer reviews B. Case studies C. Blogs D. Podcasts E. Online media room Answer: E. Online media rooms are typically used to target commercial press, not consumers or business customers. See Exhibit 15-7. E. Online media rooms

Logs, fish, cotton, and strawberries can all be: A. supplies. B. raw materials. C. component parts. D. capital items. E. accessories. Answer: B.Raw materials are unprocessed expense items such as logs, iron ore, and wheat, that are moved to the next production process with little handling. B.Raw materials are unprocessed expense items such as logs, iron ore,

Purchasing managers in business markets (compared to buyers in consumer markets) are generally: A. fewer in number. B. more technically qualified. C. less emotional in their buying motives. D. more insistent on dependability and quality. E. all of these alternatives are correct. Answer: E.Purchasing managers in business markets are fewer in number compared to buyers in

Open-ended questions are less likely to be asked in quantitative research than in qualitative research. Answer: TRUEQualitative research seeks in-depth, open-ended responses, not yes or no answers; quantitative research seeks structured responses. TRUEQualitative research seeks in-depth, open-ended responses, not yes or no answers; quantitative research seeks structured responses. TRUE Qualitative research seeks in-depth, open-ended

A marketing manager should seek help from research only for problems where the risk of a decision can be greatly reduced at a reasonable cost. Answer: TRUEMarketing research takes time and money. A good marketing manager knows that the value of additional information lies in the ability to design more effective

Opinion leaders: A. are usually better educated. B. are usually wealthier. C. are people who influence others. D. are rarely actually involved in product-related discussions with the people who "follow" them. E. All of these alternatives are true. Answer: C.An opinion leader is a person who influences others. C.An opinion leader is a person who influences others. C. An

Sandi Barefoot sells the entire output of several small companies based in Silicon Valley. Each of the companies designs and produces remote control devices. Sandi has almost complete control of pricing and selling-because the engineers who started the companies are mainly interested in inventing things. In addition, Sandi often provides

Gen Y is the result of the echo boom and its members are more techno-savvy than any other group. Answer: TRUEGen Y refers to those born from 1978 to 1994; this group emerged from the echo boom and grew up with technology. TRUEGen Y refers to those born from 1978 to 1994;

_____ are responsible for working with suppliers and arranging the terms of sale. A. Gatekeepers B. Deciders C. Influencers D. Users E. Buyers Answer: E.Buyers are responsible for working with suppliers and arranging the terms of sale. E.Buyers are responsible for working with suppliers and arranging the terms of sale. E. Buyers are responsible for working with suppliers and

Introductory price dealing involves setting high initial prices on a product when it is introduced-to see how much consumers are willing to pay. Answer: FALSEIntroductory price dealing is using temporary price cuts to speed new products into a market and get customers to try them. FALSEIntroductory price dealing is using temporary price

The "battle of the brands" is the competition between dealer brands and manufacturer brands. Answer: TRUEThe "battle of the brands" is the competition between dealer brands and manufacturer brands in a case of who will be more popular and who will be in control. TRUEThe "battle of the brands" is the competition

Ross Wrigley refuses to buy Billy Goat brand of beer; his attitude toward this brand is called _____. A. brand rejection B. brand familiarity C. brand nonrecognition D. brand recognition E. brand positioning Answer: A.Brand rejection means that potential customers won't buy a brand unless its image is changed. Rejection may suggest a change in the

It is not uncommon for sales personnel at The Electronics Showroom to use aggressive sales tactics to encourage customers to buy Giant-Size brand televisions. Giant-Size has encouraged this behavior by using: A. advertising allowances. B. push money allowances. C. stocking allowances. D. trade-in allowances. E. slotting allowances. Answer: B.Push money (or prize money) allowancessometimes called PMs or

Committee buying in large retail chains A. makes the buyers work as a group and thus lower costs. B. allows a sales rep to avoid a difficult buyer. C. makes it difficult for the seller to see a buyer personally. D. reduces the impact of a persuasive sales rep. E. All of these alternatives are

A good S.W.O.T. analysis helps a manager focus on a strategy that takes advantages of the firm's opportunities and strengths while avoiding its weaknesses and threats to its success. Answer: TRUECareful analysis helps the manager focus on a strategy that takes advantage of the firm's strengths and opportunities while avoiding its

Information technology involves a trade-off because it cannot improve service levels and cut costs at the same time. Answer: FALSEInformation technology can sometimes improve service levels and cut costs at the same time. FALSEInformation technology can sometimes improve service levels and cut costs at the same time. FALSE Information technology can sometimes improve service

Job descriptions are not necessary for personal selling because all salespeople are expected to do the same task-sell products. Answer: FALSEA job description is a written statement of what a salesperson is expected to do. It might list specific tasks as well as routine prospecting and sales report writing. FALSEA job description

______________ are products a consumer needs but isn't willing to spend much time and effort shopping for. A. Convenience products B. Unsought products C. Homogeneous shopping products D. Specialty products E. Heterogeneous shopping products Answer: A.Convenience products are products a consumer needs but isn't willing to spend much time or effort shopping for. These products are

Which of the following statements is not characteristic of a good? A. Goods are tangible items that can be touched. B. Goods can be produced and then stored to sell at some future time. C. Goods are typically manufactured at the location where the customer makes the purchase. D. Goods can be owned by

Sales promotion aimed at company's own sales force is sometimes called trade promotion. Answer: FALSESales promotion aimed at intermediaries is sometimes called trade promotion. FALSESales promotion aimed at intermediaries is sometimes called trade promotion. FALSE Sales promotion aimed at intermediaries is sometimes called trade promotion. Any contractual channel system-by definition-is also an administered channel system.

The development of department stores and supermarkets is explained by the "wheel of retailing" theory. Answer: TRUEDepartment stores, supermarkets, and mass-merchandisers went through the cycle described in the "wheel of retailing" theory. TRUEDepartment stores, supermarkets, and mass-merchandisers went through the cycle described in the "wheel of retailing" theory. TRUE Department stores, supermarkets, and mass-merchandisers

Regarding sales force compensation methods: A. combination plans provide some security and some incentive. B. straight commission avoids the need to consider a sales quota. C. straight salary provides the most incentive. D. sales quotas play no role in any of the methods. E. None of these alternatives is correct. Answer: A.Most salespeople want some security,

Getting reactions from customers about how well a new-product idea fits their needs is A. concept testing. B. target marketing. C. screening. D. brand positioning. E. product liability. Answer: A.Getting reactions from customers about how well a new-product idea fits their needs is concept testing. A.Getting reactions from customers about how well a new-product idea fits their

The term 'supply chain" can be misleading because the chain typically involves only two firms: a vendor (selling firm) and a customer (buying firm). Answer: FALSESupply chain is the complete set of firms and facilities and logistics activities that are involved in procuring materials, transforming them into intermediate or finished products,

Concerning consumer and business markets: A. promotion to consumer markets usually relies more heavily on the use of personal selling. B. it is often easier to define customer needs in business markets. C. a marketing mix directed at an organizational customer is usually less precisely adjusted to the needs of the specific customer. D.

Regarding a marketing information system (MIS): A. The input of marketing managers is not needed in developing an MIS; marketers should leave everything to information technology specialists. B. Can be used to improve implementation and control. C. A good MIS converts information into raw data. D. An MIS provides an alternative to big data. E.

Although the salesperson's job may change constantly, there are three basic sales tasks. Answer: TRUEThe three basic sales tasks are order-getting, order-taking, and supporting. TRUEThe three basic sales tasks are order-getting, order-taking, and supporting. TRUE The three basic sales tasks are order-getting, order-taking, and supporting. Customer lifetime value represents the total stream of purchase a

Which of the following advertising headlines is MOST oriented toward stimulating PRIMARY demand? A. "See your Hewlett Packard dealer to learn how an affordable portable printer can make business travel easier." B. "Panasonic is the value leader." C. "IBM printers set the quality standard." D. "Buy Quality. Buy from an authorized Epson dealer." E. "Canon

Because the cultural and social environment tends to change slowly, firms should try to identify and work with cultural attitudes rather than trying to encourage big changes in the short run. Answer: TRUESince changes in related cultural values and social attitudes come slowly, firms should monitor and anticipate such big changes

Trucks A. are best at moving large quantities of goods for longer distances. B. are the most expensive of any of the modes. C. are very slow compared to railroads, and this makes it hard to compete effectively. D. compete aggressively with other modes for high-value shipments. E. None of these alternatives is correct. Answer: D.Trucks

According to learning theory, a cue is likely to result in a consumer response only if there is a drive to satisfy. Answer: TRUEDepending on the cues (products, signs, ads, and other stimuli in the environment) an individual chooses some specific response. A response is an effort to satisfy a drive. TRUEDepending

Concerning the "universal functions of marketing," which of the following statements is false? A. These functions can be performed by producers, intermediaries, collaborators, or consumers. B. Responsibility for performing these functions can be shared and shifted. C. From a micro viewpoint, not every company must perform every function. D. From a macro viewpoint, all these

The move of the "Baby Boomers" into the 45-64 age group: A. increased the average age of the population. B. created new opportunities in financial services. C. contributed to increased interest in health and fitness products. D. All of these are correct Answer: D.As boomers age, they are creating new opportunities in industries such as

When selling ____ products, a marketing manager should recognize that consumers have low price sensitivity and the product should have widespread distribution near the probable point of need. A. homogeneous B. specialty C. emergency D. impulse E. regularly unsought Answer: C.While purchasing emergency products, a customer does not have the time to shop and is not

Products that are meant for use in producing other products are __________ products. A. convenience B. shopping C. specialty D. unsought E. business Answer: E.All products fit into one of two broad groups based on the type of customer that will use them. Consumer products are products meant for the final consumer, whereas business products are

Good marketing managers know that: A. a major advantage of personal selling is that noise can be eliminated. B. noise in the communication process improves promotion effectiveness. C. the trustworthiness of the source does not affect how receivers evaluate a message. D. different audiences may interpret a message differently. E. All of these alternatives are

The primary purpose of the transporting and storing functions of marketing is to overcome: A. the need for marketing specialists. B. separation of information. C. spatial separation. D. discrepancies of assortment. E. separation of values. Answer: C.The transporting function means the movement of goods from one place to another and thestoring function involves holding goods until

It is illegal for a firm to use a package that cannot be recycled. Answer: FALSEAlthough no law imposes it, many firms now use socially responsible packaging with theirproducts. Packaging is an area where managers face issues of social responsibility, including concerns about the role of packaging in pollution, global warming,

Trying to maximize short-run return on investment may not be compatible with a company's other objectives. Answer: TRUEWhen there are a number of specific objectives stated by top management, it is critical thatthey be compatible. TRUEWhen there are a number of specific objectives stated by top management, it is critical thatthey be

A manufacturer of computer printers has decided to add scanners to its line. Which kind of advertising should it stress if it wants to persuade consumers to buy its brand of more or less similar scanners? A. Reminder B. Cooperative C. Pioneering D. Institutional E. Indirect competitive Answer: E.A manufacturer of computer printers should point out the advantages

Low consumer spending and a lack of adequate financing are conditions that arise mostly due to factors in: A. the competitive environment. B. the cultural and social environment. C. the technological environment. D. the political environment. E. the economic environment. Answer: E.Marketers that evaluate opportunities during an economic downturn can expect depressed consumer spending and a

Discretionary income is an elusive concept because the definition of necessities varies from family to family and over time. Answer: TRUEDiscretionary income is an elusive concept because the definition of necessities varies from family to family and over time. It depends on what they think is necessary for their lifestyle. TRUEDiscretionary income

A(n) _______ is a marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied. A. resource combination B. sustainable competitive advantage C. objective-centered approach D. competitor analysis plan E. competitor matrix Answer: B.So marketing managers should actively seek sustainable competitive advantage, a marketing mix that customers see as

As of 2011, which one of the following countries does not have more than 80% of its population using the Internet? A. Norway B. Germany C. United States D. Finland E. All of these countries have more than 80% of its population using the Internet Answer: C.The United States had just 79% of its population using

A mission statement substitutes for more specific objectives. Answer: FALSEA mission statement is not a substitute for more specific objectives. FALSEA mission statement is not a substitute for more specific objectives. FALSE A mission statement is not a substitute for more specific objectives. The major disadvantage of price lining is that it is complicated for

Scientists or engineers-who may have little interest in sales but do provide technical assistance to order getters-are called technical specialists. Answer: TRUETechnical specialists are supporting salespeople who provide technical assistance to order-oriented salespeople. They are often science or engineering graduates with the know-how to understand the customer's applications and explain the

Psychographics is the analysis of a person's day-to-day pattern of living as expressed in that person's A. safety, social, and personal needs. B. actions, interests, and occupation. C. activities, interests, and opinions. D. culture, beliefs, and attitudes. E. psychological and physiological needs. Answer: C.Psychographics or lifestyle analysis is the analysis of a person's day-to-day pattern of

Why should pricing objectives be explicitly stated? A. They have a direct effect on pricing policies and the methods used to set the price. B. It provides direction for company-level objectives. C. Explicitly stating objectives provides legal protection for the firm. D. Most state laws require explicitly stating legal objectives. E. Firms should always choose

Poor customer service is likely to reduce a firm's customer equity. Answer: TRUEConsumers are more likely to tell other people about bad experiences with a company thanabout good ones. So, if the firm doesn't have an effective way to provide customer service, it could lose that customer. Poor customer service reduces

Newman's Own (a salad dressing brand) donates 100 percent of its after-tax profits to progressive causes. Newman's Own is focusing on satisfying what level in the hierarchy of needs? A. Social needs B. Personal needs C. Safety needs D. Physiological needs Answer: B.Personal needs are concerned with an individual's need for personal satisfaction and are unrelated

According to the "hierarchy of needs" model, the first needs most people try to satisfy are their ______________ needs. A. safety B. personal C. physiological D. social E. any of these are correct. Answer: C.A four-level "hierarchy of needs" shows that the lowest level needs (physiological) come first and then come safety, social, and personal needs. C.A

A firm that adopts the "marketing concept" will aim all its efforts at satisfying customers, while trying to make a profit. Answer: TRUEThe marketing concept means that an organization aims all its efforts at satisfying its customers but at a profit. TRUEThe marketing concept means that an organization aims all its efforts

As in the Toddler University case, the needs of a target market virtually determine the nature of an appropriate marketing mix. Answer: TRUEThe Toddler University case shows how the needs of a target market, in this case the attentive parents target market, determine the nature of an appropriate marketing mix. TRUEThe Toddler

The _____ can help the promotion effort by spreading word-of-mouth information and advice among other consumers. A. innovators B. late majority customer group C. laggards D. early adopters E. nonadopters Answer: D.The early adopters can help the promotion effort by spreading word-of-mouth information and advice among other consumers. D.The early adopters can help the promotion effort by

The most COMMON method of budgeting for marketing expenses is to: A. match competitors' spending. B. allocate any funds not already allocated to other functions. C. allocate enough to completely eliminate the cost of lost customers. D. allocate for the job that needs to be done. E. allow a percentage of either past or forecasted

The product life cycle describes the stages a really new product idea goes through from beginning to end. Answer: TRUEThe product life cycle describes the stages a really new product idea goes through from beginning to end. TRUEThe product life cycle describes the stages a really new product idea goes through from

In general, product life cycles appear to be getting longer in recent years. Answer: FALSEAlthough the life of different products varies, in general product life cycles are getting shorter. FALSEAlthough the life of different products varies, in general product life cycles are getting shorter. FALSE Although the life of different products varies, in general

Although advertising expenditures in the United States by 2013 were more than $220 billion, the major expense was for media time and space-not payroll expense to people who worked in the advertising industry. Answer: TRUEWhile total advertising expenditures are large, the advertising industry itself employs relatively few people. The major expense

Value pricing involves developing a "bare bones" marketing mix and a cheap price. Answer: FALSEValue pricing means setting a fair price level for a marketing mix that really gives the target market superior customer value. FALSEValue pricing means setting a fair price level for a marketing mix that really gives the target

When a company decides to use the same brand name for several products, it is a(n) A. individual brand. B. family brand. C. dealer brand. D. private brand. E. select brand. Answer: B.When several products have the same brand name, the brand is known as a family brand. B.When several products have the same brand name, the

When selling to government customers, competitive bids are common. Answer: TRUEGovernment buyers in the United States are expected to spend money wiselyin the public interest. Most government customers buy by specification using a mandatory bidding procedure. TRUEGovernment buyers in the United States are expected to spend money wiselyin the public interest. Most

Direct-response promotion usually relies on a(n) _____ database to target specific prospects. A. customer relationship management B. sales force management C. entity-attribute-value model D. enterprise relationship management E. multidimensional preference Answer: A.Direct-response promotion usually relies on a customer relationship management (CRM) database to target specific prospects. The database includes customers' names and their home and e-mail

Mass selling and sales promotion dominate the promotion blends of consumer products firms in the market maturity stage. Answer: TRUEIn the market maturity stage, mass selling and sales promotion may dominate the promotion blends of consumer products firms. Business products may require more aggressive personal selling perhaps supplemented by more advertising. TRUEIn

Marketing ethics are the moral standards that guide marketing decisions and actions. Answer: TRUEMarketing ethics are the moral standards that guide marketing decisions and actions. TRUEMarketing ethics are the moral standards that guide marketing decisions and actions. TRUE Marketing ethics are the moral standards that guide marketing decisions and actions. Examples of personal needs include

The text's discussion of Ford's marketing strategy highlights the fact that: A. creative strategy planning is needed for survival. B. there is little alternative but to stick with the traditional promotion channels for a product. C. most consumers want only established products. D. once a firm reaches a position as the market leader, competitors

A salesperson may have to make choices about A. which particular products in the whole line to push most aggressively. B. what specific target customers to aim at. C. how to adjust prices. D. which intermediaries to rely on or help. E. All of these choices are correct. Answer: E.Salespeople are expected to make choices about

Manufacturers' agents earn higher commissions for introducing new products than they do for selling established products. Answer: TRUEFor introducing new products, manufacturers' agents may earn 10 to 15 percent commission, while their commission on large-volume established products may be quite low as 2 percent. TRUEFor introducing new products, manufacturers' agents may earn

Generation Y refers to: A. those born from 1978-1994 B. those born since 1994 C. those born from 1965-1997 D. those born from 1945-1964 E. those born before 1945 Answer: A.Generation Y, sometimes called Millennials, refers to the generation born from 1978 to 1994. A.Generation Y, sometimes called Millennials, refers to the generation born from 1978 to

When a firm's domestic market is prosperous, marketing managers are less likely to pursue opportunities in international markets. Answer: TRUEMarketers who are attaining success in domestic markets often fall into the trap of ignoringopportunities in international markets. TRUEMarketers who are attaining success in domestic markets often fall into the trap of ignoringopportunities

Use the following information to answer question that refer to the Jewel Craft case. Jewel Craft, Inc. is a leading producer in the United States' women's costume jewelry and accessories market. Its brands are well known and are sold by department stores and better women's stores. Several stores in a city

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words 'strengths, weaknesses, opportunities, and threats." Answer: TRUEThe name S.W.O.T. is simply an abbreviation for the first letters in the words strengths, weaknesses, opportunities, and threats. TRUEThe name S.W.O.T. is simply an abbreviation for the first letters in

Which of the following observations concerning introductory price dealing is true? A. Established competitors usually choose to meet introductory price dealing. B. They are temporary price cuts to speed new products into a market. C. They have the same effect as price skimming. D. They are the same as low penetration prices. E. The plan

Marketing encourages the development and spread of new ideas, goods, and services. Answer: TRUEMarketing encourages innovation, which is the development and spread of new ideas, goods, and services. TRUEMarketing encourages innovation, which is the development and spread of new ideas, goods, and services. TRUE Marketing encourages innovation, which is the development and spread of

Which of the following demonstrates how the technological environment is changing the way marketers promote products? A. Marketing aimed at youth is increasingly regulated by governments. B. Search engines match consumer searches with relevant banner ads. C. Marketers make routine claims that products are eco-friendly. D. Manufacturers partner with local retailers to buy ads

In an advanced economy, marketing costs account for about ___ cents of every consumer dollar. A. 10 B. 20 C. 30 D. 40 E. 50 Answer: E.In advanced economies, marketing costs about 50 cents of every consumer dollar. For some goods and services, the percentage is much higher. E.In advanced economies, marketing costs about 50 cents of

Marketing managers should be able to explain the kinds of problems they are facing and the kinds of marketing research information that will help them make decisions. Answer: TRUEMarketing managers must be able to explain to the specialists what their problems are and what kinds of information they need. TRUEMarketing managers must

After making a purchase, buyers often wonder if they made the right choice. The resulting tension is called dissonance. Answer: TRUEAfter making a purchase, buyers often have second thoughts and wonder if they made the right choice. The resulting tension is called dissonance. TRUEAfter making a purchase, buyers often have second thoughts

Managers at Wayzata Communications, an Internet service provider, want access to a continual flow of information about their market-available whenever they need it. Wayzata managers need a(n) A. marketing information system. B. intranet. C. data warehouse. D. customer relationship management system. E. big data. Answer: A.Marketing information system can provide a continual flow of information that

Customer service reps are more useful for "keeping" customers, rather than "winning" new customers. Answer: TRUECustomer service reps work with customers to resolve problems that arise with a purchase,usually after the purchase has been made. Effective customer service is especially critical in keeping customers. TRUECustomer service reps work with customers to resolve

Debbie Wood sells food products to grocery wholesalers and large supermarket chains in Tallahassee. She sells for several manufacturers with noncompeting lines of food products-earning a 5 percent sales commission. She neither handles nor owns the products she sells. Debbie is a: A. manufacturers' agent. B. rack jobber. C. broker. D. truck wholesaler. E. selling

Which of the following is NOT a component material? A. Paper. B. Copper wire. C. Copper ore. D. Copper screens. E. None of these, i.e., all are component materials. Answer: C.Component materials are items such as wire, plastic, or textiles. They have already been processed but must be processed further before becoming part of the final

Regarding new-product development, market tests: A. are used mostly for durable products because of their high production costs and risks. B. seek customer reactions to ideas-not actual products. C. should test the product and specific marketing mix variables. D. are not very costly, but take a long time to do. E. None of these alternatives

Which of the following observations concerning beliefs is FALSE? A. Beliefs don't necessarily involve any liking or disliking. B. A belief is a person's opinion about something. C. Beliefs may help shape a consumer's attitudes. D. Beliefs are more action-oriented than attitudes. E. None of these observations is FALSE. Answer: D.Beliefs are not as action-oriented as

Gloria Highnote works for CD Wholesale. She helps CD's retailer-customers set up their cooperative advertising, helps train the retailer's salespeople, and gives CD feedback on how sales promotion ideas are working. Gloria is: A. a technical specialist. B. a customer service rep. C. an order getter. D. an order taker. E. a missionary salesperson. Answer: E.Missionary

The simple trade era was a time when families traded or sold their 'surplus" output to local distributors who resold these goods to other consumers or distant distributors. Answer: TRUEThe simple trade era was a time when families traded or sold their 'surplus" output to local distributors. These specialists resold the

The scientific method A. rejects the idea that marketing managers can make "educated guesses" about marketing relationships. B. shows that every marketing research project should have five steps. C. is an orderly and objective approach to judging how good an idea really is. D. recognizes that statistical analysis provides the only basis for rejecting

Parents who spent years limiting purchases to home necessities and kids' entertainment often embrace more luxury-oriented buying patterns later in life. This phenomenon is related to: A. changes in purchase situation. B. selective retention. C. reinforcement. D. changed physiological needs. E. empty nester behavior. Answer: E.People whose children are grown are able to spend their money

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words 'strengths, weaknesses, opportunities, and threats." Answer: TRUEThe name S.W.O.T. is simply an abbreviation for the first letters in the words strengths, weaknesses, opportunities, and threats. Refer to Chapter 2. TRUEThe name S.W.O.T. is simply an abbreviation for

If random selection is used to develop a sample, researchers can use statistical methods to help determine the likely accuracy of the sample value; this is done in terms of _____. A. empirical clusters B. prediction intervals C. regression coefficients D. confidence intervals Answer: D.If random selection is used to develop a sample, researchers can

A good marketing manager for a retailer knows that: A. economic needs are more important than emotional needs in choosing a store. B. shopping atmosphere has little comparative importance. C. consumers only go to stores that offer the lowest possible prices. D. individual consumers have different economic and emotional needs. E. All of these alternatives

Expense items which have had more processing than raw materials and become part of a finished product are component parts and materials. Answer: TRUEComponents are processed expense items that become part of a finished product. Component parts are finished or nearly finished items that are ready for assembly into the final

A flexible-price policy is illegal in the U.S. Answer: FALSEFlexible pricing is most common in the channels, in direct sales of business products, and at retail for expensive shopping products. FALSEFlexible pricing is most common in the channels, in direct sales of business products, and at retail for expensive shopping products. FALSE Flexible pricing

Which of the following is TRUE about the micro-macro dilemma? A. What is good for some producers and consumers may not be good for society as a whole. B. Marketing people cannot agree on whether marketing should be viewed as individual activities or a social process. C. In a multiproduct company, one product should

Physical distribution decisions interact with which other marketing mix decisions? A. Price decisions B. Promotion decisions C. Product decisions D. All of these marketing mix decisions interact with physical distribution decisions Answer: D.PD decisions interact with Product, Promotion, and Price decisions. D.PD decisions interact with Product, Promotion, and Price decisions. D. PD decisions interact with Product, Promotion, and

The total cost of mass media may force a small firm to use promotion alternatives that are more expensive on a per contact basis. Answer: TRUETotal cost for some mass media may force small firms, or those with small promotion budgets, to use promotion alternatives that are more expensive per contact. TRUETotal

The retailer L.L. Bean uses a multichannel approach by offering its printed catalog in the following format as well ___________. A. a cable TV shopping channel B. door-to-door selling C. a phone solicitation D. a website Answer: D.A multichannel approach means that a retailer is offering its customers more than one channel in which to

A salesperson for an athletic shoe company is assigned the functions of order-getting, order-taking, and sales support. Is this a mistake by his company? A. No, because order-getters tend to be less well trained than order-takers. B. No, because sales support activities can require a great deal of technical knowledge. C. Yes, because

Looking at sales volume is usually the easiest and best method of determining the degree of success for an advertising campaign. Answer: FALSELooking at sales volume is not the best method for determining the degree of success of anadvertising campaign because sales results are also affected by what competitors do and

The physical distribution concept says (or implies) that: A. transporting, storing, and product-handling are unrelated activities for cost control. B. the best distribution system is the lowest cost one. C. a firm should seek to minimize the total cost of transporting, storing, and product-handling-for a given level of customer service. D. if the transporting