Principles of Marketing 16th Edition

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product. Answer: TRUE Answer: TRUE Answer: TRUE Millennials comprise the most financially affluent group in America today. Answer: FALSE Answer: FALSE Answer: FALSE Off-price retailers pay regular wholesale prices for their merchandise but maintain low prices by accepting lower margins

Josh received an e-mail stating that he had won a lottery of $500,000 from Lottors Corporation. The e-mail asked Josh to send his bank account details and social security number to transfer cash directly to his account. Josh did not remember buying any lottery tickets, and so was apprehensive about

Which of the following is true about business-to-business e-procurement? A) E-procurement increases transaction costs for suppliers. B) Because of an overwhelming demand, e-procurements usually have a huge time gap between order and response. C) Many buyers now use the power of the Internet to pit suppliers against one another and search out better

Mass marketing involves identifying market segments, selecting one or more of them, and developing products and marketing programs tailored to each. Answer: FALSE Answer: FALSE Answer: FALSE Unsought products are products that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort. Answer: FALSE Answer: FALSE Answer: FALSE Product differentiation refers to

The federal government may prevent a company from adding products through acquisitions if acquisition threatens to lessen competition. Answer: TRUE Answer: TRUE Answer: TRUE E-procurement has caused the time between order and delivery to increase significantly. Answer: FALSE Answer: FALSE Answer: FALSE A good competitor plays by its own rules at the expense of the industry as

Stylize, Inc. opened an online store that triggered disagreements between headquarters and the firm's exclusive dealers. This type of a disagreement is known as a(n) ________ conflict. A) vertical B) indirect C) horizontal D) selective E) multitiered Answer: A Answer: A Answer: A Each competitor has a mix of objectives. The company wants to know the relative importance that

________ means marketing a product in a foreign market without making any changes to the product. A) Product adaptation B) Product invention C) Communication adaptation D) Straight product extension E) Product augmentation Answer: D Answer: D Answer: D Orion Inc. markets luxury watches. It targets the wealthy global elite segment, regardless of their geographic location. Orion most likely

The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company. A) SWOT analysis B) benchmarking C) business portfolio analysis D) breakeven analysis E) prospecting Answer: C Answer: C Answer: C Eric Brown is a human resource manager in a company selling and manufacturing personal computers. Who among the

In the ________ stage of the new product development process, products undergo rigorous tests to make sure that they perform safely and effectively, or that consumers will find value in them. A) product design B) idea generation C) concept development and testing D) product development E) product activation Answer: D Answer: D Answer: D Price setting is usually

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________. A) niche marketing B) local marketing C) diversification D) product adaptation E) downsizing Answer: C Answer: C Answer: C A pharmaceutical company in Utah recently released a new and expensive anti-ulcer drug in the market. The

Online flash sales are used to create buying urgency and make buyers feel lucky to have gotten in on the deal. Answer: TRUE Answer: TRUE Answer: TRUE The EU acts as an umbrella organization that oversees GATT and mediates global disputes. Answer: FALSE Answer: FALSE Answer: FALSE Alternative evaluation is the process by which people select, organize,

Facebook and Second Life are both examples of ________. A) brand alliances B) opinion leaders C) social networks D) early adopters E) market mavens Answer: C Answer: C Answer: C Communication through a telephone call is considered a part of a(n) ________ communication channel. A) online B) nonverbal C) personal D) nonpersonal E) unidirectional Answer: C Answer: C Answer: C Which of the following is the

Which of the following would most likely be included in the written materials prepared by PR professionals to reach and influence target markets? A) employee code of conduct B) annual reports C) memorandum of association D) advertisement jingles E) white papers Answer: B Answer: B Answer: B Federal legislation on price fixing requires that sellers set their prices

The Children's Online Privacy Protection Act requires online operators targeting children to post privacy policies on their sites and notify parents about any information they are gathering and obtain parental consent before collecting information from children under age 13. Answer: TRUE Answer: TRUE Answer: TRUE Mass marketers can expect consumers to distinguish between

A company's channel decisions directly affect the prices of its products. Answer: TRUE Answer: TRUE Answer: TRUE Gender segmentation has long been used in clothing, cosmetics, toiletries, and magazines. Answer: TRUE Answer: TRUE Answer: TRUE Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product. Answer: FALSE Answer: FALSE Answer: FALSE The

Disintermediation occurs when radically new types of channel intermediaries displace traditional ones. Answer: TRUE Answer: TRUE Answer: TRUE Consumers welcome e-mail marketing messages; opportunities to control the messages they receive are frequently ignored. Answer: FALSE Answer: FALSE Answer: FALSE In a direct marketing channel, the producer sells directly to the intermediaries, who in turn sell directly

In the marketing mix, design, packaging, services, and variety can be categorized under ________. A) product B) price C) promotion D) place E) position Answer: A Answer: A Answer: A One of the functions performed by a PR department is ________, which involves building and maintaining relations with legislators and government officials to influence legislation and regulation. A) direct

Which of the following uses a customer-centered 'sense-and-respond" philosophy rather than a product-centered "make-and-sell" philosophy? A) market segmentation B) the production concept C) the marketing concept D) the inside-out perspective E) marketing myopia Answer: C Answer: C Answer: C When companies set prices, the government and social concerns are ________ factors affecting pricing decisions. A) external B) internal C) economic D) cultural E) organizational

A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve. Answer: TRUE Answer: TRUE Answer: TRUE A seasonal discount is a price reduction to buyers who buy merchandise while the products are in season. Answer: FALSE Answer: FALSE Answer: FALSE Integrated marketing communications calls for

________ refers to gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses. A) Experimental research B) Constructive research C) Observational research D) Survey research E) Descriptive research Answer: A Answer: A Answer: A Which of the following brands most likely requires heavy advertising in

Demographic characteristics, geographic characteristics, economic factors, sociocultural factors, and political and legal factors all help a company ________. A) determine a market's potential B) determine a country's degree of globalization C) evaluate its marketing objectives D) evaluate its value delivery network E) determine a country's income distribution Answer: A Answer: A Answer: A To help recruit, train, organize,

Refer to the scenario below to answer the following question(s). Kimberly's Crown sells and designs jewelry. Despite the jewelry's popularity, products are available only through a few shopping stores across the country. What mode of transport should Kimberly use to ship its goods over long distances as quickly as possible? A) flatcars B) water

Government agencies design ________ to encourage energy conservation and discourage smoking, excessive drinking, and drug use. A) club marketing programs B) social marketing campaigns C) consumer-generated marketing campaigns D) ambush marketing campaigns E) frequency marketing programs Answer: B Answer: B Answer: B Which of the following exemplifies a pure competitive market? A) a market where many buyers and sellers

Postpurchase behavior is the stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction. Answer: TRUE Answer: TRUE Answer: TRUE If demand changes greatly with price, the demand is inelastic. Answer: FALSE Answer: FALSE Answer: FALSE The business marketer normally deals with far fewer but far

At the most basic level of environmental sustainability, a company can practice ________. A) pollution prevention B) product stewardship C) beyond greening activities D) new clean technology E) sustainability vision Answer: A Answer: A Answer: A Which of the following is the first step in the personal selling process? A) handling objections B) follow-up C) presentation and demonstration D) preapproach E) prospecting and

Children exert little influence on family buying decisions. Answer: FALSE Answer: FALSE Answer: FALSE A community shopping center contains between 15 and 50 retail stores. Answer: TRUE Answer: TRUE Answer: TRUE Only citizens are part of the consumerism movement. Answer: FALSE Answer: FALSE Answer: FALSE Personality is a person's pattern of living as expressed in his or her psychographics.

In the customer sales force structure, each salesperson is assigned to an exclusive geographic area and sells the company's full line of products or services to all customers in that territory. Answer: FALSE Answer: FALSE Answer: FALSE A service refers to an activity, benefit, or satisfaction offered for sale that is essentially intangible

________ occurs when two established brand names of different companies are used on the same product. A) Market diversification B) Niche marketing C) Co-branding D) Licensing E) Cannibalization Answer: C Answer: C Answer: C Marketing stimuli consist of the four Ps. Which of the following is NOT one of these? A) product B) packaging C) price D) promotion E) place Answer: B Answer: B Answer: B The

Superstores are much larger than regular supermarkets and offer a large assortment of routinely purchased food products, nonfood items, and services. Answer: TRUE Answer: TRUE Answer: TRUE You receive a text message on your phone from Upscale Furnishings about an upcoming sale on custom furniture. Upscale Furnishings is developing a direct customer relationship

In some markets, competitors live in relative harmony. Answer: TRUE Answer: TRUE Answer: TRUE Intermodal transportation refers to the combination of two or more modes of transportation. Answer: TRUE Answer: TRUE Answer: TRUE Companies seldom solicit ideas from customers during the idea generation stage of product development. Answer: FALSE Answer: FALSE Answer: FALSE Good marketing communications can speed the

Which of the following is a price adjustment strategy that considers how a customer's perception of a product is influenced by its price? A) captive product pricing B) psychological pricing C) by-product pricing D) promotional pricing E) international pricing Answer: B Answer: B Answer: B The ________ requires sellers to provide detailed nutritional information on food products. A) Fair

Which of the following is true about the demand curve? A) A demand curve indicates the drop in the average per-unit production cost that comes with accumulated production experience. B) A demand curve indicates the cost per unit of output in the long run. C) A demand curve indicates the cost per unit

Marketing logistics involves planning, implementing, and controlling the physical flow of goods, services, and related information from points of origin to points of consumption to meet customer requirements at a profit. Answer: TRUE Answer: TRUE Answer: TRUE Internal information is almost always sufficient for making marketing decisions. Answer: FALSE Answer: FALSE Answer: FALSE Co-branding occurs when

Which of the following statements is most likely true regarding the objective-and-task method of budget setting? A) It forces management to spell out its assumptions about the relationship between the money spent and promotion results. B) It is the simplest and least time consuming method to use. C) It is the least logical

A company's product mix has four important dimensions: width, length, depth, and consistency. Answer: TRUE Answer: TRUE Answer: TRUE Companies are increasingly adopting high-commission plans to make sure that salespersons are motivated to build long-term relationships with customers. Answer: FALSE Answer: FALSE Answer: FALSE A company that makes marketing decisions by considering consumers' wants and long-run

Companies in several industries have recognized the buying power of the LGBT segment of the U.S. population and have begun explicitly targeting these consumers with gay-specific ads and marketing efforts. Answer: TRUE Answer: TRUE Answer: TRUE Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary. Answer:

To increase its 'share of customer," a firm concentrates on retaining as many customers as possible over its lifetime. Answer: FALSE Answer: FALSE Answer: FALSE Value-based pricing uses the sellers' perception of value as the key to pricing. Answer: FALSE Answer: FALSE Answer: FALSE In the general needs description of the buying process, the buyer describes

Which of the following questions would help a marketer evaluate the return on a sales promotion investment? A) Was the sales force successful in filtering out the good prospects from the poor ones? B) Did customers enjoy the events associated with the promotion? C) Did customers receive high-quality promotional products? D) Did the promotion

Large-scale advertising conveys a positive message about the seller's size, popularity, and success. Answer: TRUE Answer: TRUE Answer: TRUE A management information system assesses information needs, develops needed information, and helps decision makers use the information. Answer: TRUE Answer: TRUE Answer: TRUE In an automated warehouse, orders are fed directly from the retailer's information system to

An increasing number of American workers currently work from their homes or remote offices and conduct their business by phone or the Internet. This trend has created a ________. A) booming real estate market in the big cities B) booming SOHO market C) decline in the demand for convenience foods D) decline in the

Which of the following companies has a product-oriented business definition? A) A luxury hotel, whose business definition is: "We sell out-of-the-world experiences to our guests." B) A real estate company, whose business definition is: "We sell dreams." C) A cosmetic company, whose business definition is: "We offer hopes and self-expression." D) A shoe manufacturer,

Which of the following is an advantage of using digital catalogs? A) lists the phone numbers of interested prospects B) coordinates with direct-response television ads C) points customers to the nearest kiosk D) eliminates printing and mailing costs E) creates emotional contact with customers Answer: D Answer: D Answer: D Lawyers, accountants, and other professionals typically price by

Joanna uses her smartphone to accomplish many tasks everyday. She is also an avid shopper. Which online marketing tool will benefit Joanna the most to help her shop? A) e-mail messages from sites to which she subscribes B) banking app for her bank C) instant deals and digital coupons D) YouTube video E) Facebook friends

What is included in the first part of a marketing strategy statement? A) distribution strategy B) product longevity C) long-run sales goals D) promotional mixes E) target market description Answer: E Answer: E Answer: E New technologies most likely lead to ________. A) economic imbalance in society B) reduced exports C) trade deficits D) an increased demand for unskilled labor E) new markets

When Gary Hirshberg started the Stonyfield Farm yogurt company, he stated that his company could do better with less advertising, less marketing research, and more guerrilla marketing. He came up with innovative marketing ideas to promote his products such as having sales personnel dress up as large yogurt cartons to

Which of the following is true of using trucks as a transportation mode? A) Transportation via trucks is costlier than by rail or air. B) Trucks are a specialized means of shipping petroleum, natural gas, and chemicals from sources to markets. C) Trucks provide in-transit services such as the diversion of shipped goods

What sets the floor for product prices? A) consumer perceptions of the product's value B) product costs C) competitors' strategies D) advertising budgets E) market competition Answer: B Answer: B Answer: B Workers, managers, and members of the board are examples of ________ publics. A) general B) internal C) local D) citizen-action E) media Answer: B Answer: B Answer: B Geller Insurance calls qualified prospects to

Attributes are the most desirable level for brand positioning because competitors can easily copy attributes. Answer: FALSE Answer: FALSE Answer: FALSE The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company. Answer: TRUE Answer: TRUE Answer: TRUE Shopper marketing involves focusing the entire marketing

Which of the following is the most likely result of a marketing strategy that attempts to serve all potential customers? A) All customers will be delighted. B) Customer-perceived value will increase. C) All customers will directly turn into customer evangelists. D) Not all customers will be satisfied. E) Customers will not show interest in any

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing? A) when the new product requires a major investment B) when management lacks confidence in the new product C) when management lacks confidence in the marketing strategy D) when the product has no

Which of the following advertising slogans most likely represents a two-sided argument? A) Breakfast of champions B) Good to the last drop C) A diamond is forever D) The ultimate driving machine E) The next big thing is already here Answer: E Answer: E Answer: E In which of the following geographic pricing strategies would customers located close

Which of the following is an example of cultural pollution? A) gasoline shortages B) congestion tolls C) street signs in cities D) overpasses in suburban areas E) billboards marring beautiful scenery Answer: E Answer: E Answer: E A quantity discount is a price reduction for buyers who ________. A) buy merchandise out of season B) buy merchandise in bulk C) pay

Mission statements should be ________. A) meaningful and specific yet motivating B) technology oriented C) written solely for public relations purposes D) focused on increasing sales or profits E) strictly product oriented Answer: A Answer: A Answer: A Which of the following is a disadvantage of adding new channels in a multichannel distribution system? A) decreasing complexity of markets B)

UNASUR is the economic community of South American nations. Answer: TRUE Answer: TRUE Answer: TRUE The benefits of e-procurement include access to new suppliers, lower purchasing costs, and more time-efficient order processing and delivery. Answer: TRUE Answer: TRUE Answer: TRUE Prices have a direct impact on a firm's bottom line. Answer: TRUE Answer: TRUE Answer: TRUE Prior to the

Information in a company's database can come from many sources. An advantage of harnessing such information is to ________. A) eliminate employee turnover B) achieve a high degree of employee empowerment C) gain competitive advantage D) gain access to mass markets E) eliminate resource dependency Answer: C Answer: C Answer: C The marketing team of 7 Star Inc.,

________ are a type of limited-service wholesaler who carries a limited line of semiperishable merchandise (such as milk, bread, and snack foods), which is sold for cash as deliveries are made to supermarkets, small groceries, or hotels. A) Industrial distributors B) Wholesale merchants C) Full-service wholesalers D) Truck jobbers E) Purchasing agents Answer: D Answer: D Answer:

Good service recovery can turn angry customers into loyal ones. Answer: TRUE Answer: TRUE Answer: TRUE Competitive marketing intelligence is the systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketplace. Answer: TRUE Answer: TRUE Answer: TRUE A marketing Web site interacts with consumers to move them closer to a

According to Maslow's hierarchy of needs theory, when the most important need is satisfied, it will cease to be a motivator, and the person will then try to satisfy the next most important need. Answer: TRUE Answer: TRUE Answer: TRUE A company cannot stretch its product line downward. Answer: FALSE Answer: FALSE Answer: FALSE Causal research

In response to price cuts from competitors, a cereal company with several more expensive and higher quality cereals introduced a lower-priced option to its product line. This is an example of which of the following responses to a competitor's price cut? A) raising the perceived value of a product B) improving product

Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants. Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate

The market subsegment that a company exclusively caters to may dry up, or it might grow to the point that it attracts larger competitors. This is why such companies practice ________. A) multiple niching B) mass marketing C) overall cost leadership D) low-price strategies E) dumping Answer: A Answer: A Answer: A Soon-Yi Park's chain of travel agencies has

A ________ is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user. A) product line B) product delivery network C) marketing channel D) consumer base E) resource bank Answer: C Answer: C Answer: C Conflict that occurs among firms at the same level of the

New World Food Supplements continuously seeks real product and marketing improvements for its line of vitamin and protein supplements. This information indicates that New World is involved in consumer-oriented marketing. Answer: FALSE Answer: FALSE Answer: FALSE Although television advertising has high absolute costs, its cost per exposure is relatively low. Answer: TRUE Answer: TRUE Answer:

Advertising involves a personal presentation by the firm's sales force for the purpose of making sales and building customer relationships. Answer: FALSE Answer: FALSE Answer: FALSE The percentage-of-sales budget is based on the availability of funds rather than on opportunities. Answer: TRUE Answer: TRUE Answer: TRUE Abel is considering whether or not to get an e-reader.

For most marketers, customer relationship management is exclusively a matter of customer data management. Answer: FALSE Answer: FALSE Answer: FALSE Marketing researchers can conduct their own searches of secondary data sources by using mail questionnaires and interviewing individuals. Answer: FALSE Answer: FALSE Answer: FALSE Blair Housewares wants to add new products to its existing line of

Sparks Inc. has a growing ________ market in the U.S. consisting of individuals and households that buy Sparks' products for personal use. A) consumer B) government C) business D) international E) financial Answer: A Answer: A Answer: A Elmo Inc., a global conglomerate, designed the ElBrush, an electric toothbrush. Sensing market demand for the electric toothbrush, Elmo started with

________ marketing is more suited for products that vary in design. A) Mass B) Local C) Direct D) Differentiated E) Individual Answer: D Answer: D Answer: D A gym equipment manufacturer encourages customers to become members of the firm's Web site. Membership provides customers with exercise tips as well as discounts on gym equipment and workout apparel. This is

Which question should most likely be answered by all companies due to the rapid move toward globalization? A) How should we eliminate domestic competition? B) Should we diversify in a new business area in the home country? C) Where should we produce or source our products? D) How should we fulfill our environmental obligations? E) Which

When a company sets a high price for a new product with the intention of reducing the price in the future, it is using the ________ pricing strategy. A) market-skimming B) cost-plus C) market-segmentation D) market-penetration E) competitive Answer: A Answer: A Answer: A Rhodia invites tourists from all over the world to experience its pristine nature, clear

Within a hotel renowned for its superior service, one registration-desk employee may be cheerful and efficient, whereas another may be irritable and slow. This exemplifies service consistency. Answer: FALSE Answer: FALSE Answer: FALSE The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society's interests. Answer: TRUE Answer: TRUE Answer:

Which of the following groups influences the company's ability to obtain funds? A) financial publics B) local publics C) general publics D) citizen-action publics E) internal publics Answer: A Answer: A Answer: A ________ refers to the unique psychological characteristics that distinguish an individual or group. A) Attitude B) Belief C) Perception D) Personality E) Self-awareness Answer: D Answer: D Answer: D Which of the following

Although more price-conscious than other population segments, ________ consumers tend to be strongly motivated by quality and selection, and give importance to brands. A) lower upper B) African American C) Asian American D) Filipino E) working class Answer: B Answer: B Answer: B Which of the following statements best represents a contractual association between a manufacturer, wholesaler, or

The marketing mix refers to the set of marketing tools the firm uses to implement its marketing strategy. Answer: TRUE Answer: TRUE Answer: TRUE Using value-based pricing, a marketer would not design a product and marketing program before setting the price. Answer: TRUE Answer: TRUE Answer: TRUE Green retailing yields both top- and bottom-line benefits. Answer:

Which of the following types of research would be best suited for understanding the attitudes of consumers who buy a particular brand of soft drink? A) internal research B) descriptive research C) causal research D) exploratory research E) demographic research Answer: B Answer: B Answer: B Which of the following promotional tools is the most effective in building

Formed in 2004 and formalized in 2008, ________ makes up the largest trading block after NAFTA and the European Union. A) CAFTA-DR B) FTAA C) UNASUR D) MCAN E) GATT Answer: C Answer: C Answer: C In ________ research, the objective is to gather preliminary information that will help define the problem and suggest hypotheses. A) exploratory B) statistical C) causal D)

Ralph Goldsmith works for Zenith Inc., a leading cosmetic company based in Illinois. At Zenith, Ralph's primary responsibility revolves around digging deeply into customer data to gain valuable insights about customer needs, motives, and attitudes. This data is, in turn, used by Zenith to personalize its customers' shopping experiences. Ralph's position

Commercial sources of information typically legitimize and evaluate products for buyers. Answer: FALSE Answer: FALSE Answer: FALSE The direct mail medium has very low cost per exposure. Answer: FALSE Answer: FALSE Answer: FALSE The introduction of new technologies is equally beneficial to all industries. Answer: FALSE Answer: FALSE Answer: FALSE Professional athletes such as Peyton Manning and Maria Sharapova

________ are manufacturer-owned and operated stores that offer prices as low as 50 percent below retail on a wide range of mostly surplus, discounted, or irregular items. A) Category killers B) Factory outlets C) Specialty stores D) Superstores E) Power centers Answer: B Answer: B Answer: B Envirosax reusable shopping bags are stylish and affordable, and they eliminate

Marketers must increasingly consider the special needs of traditional households because this segment of the population is growing more rapidly than nontraditional households. Answer: FALSE Answer: FALSE Answer: FALSE In the follow-up stage of the selling process, the salesperson asks the customer for an order. Answer: FALSE Answer: FALSE Answer: FALSE A market is the set

A hybrid sales rep ________. A) works exclusively from remote locations B) is a modern cross between a field sales rep and an inside rep C) rarely engages in face-to-face interactions with customers D) performs sales audits E) sets the sales objectives of companies Answer: B Answer: B Answer: B If a company's aim is to make its

Which of the following marketing strategies is most suitable for smaller firms with limited resources? A) mass marketing B) undifferentiated marketing C) niche marketing D) differentiated marketing E) one-to-one marketing Answer: C Answer: C Answer: C Almost all major purchases result in ________, or discomfort caused by postpurchase conflict. A) need recognition B) cognitive dissonance C) consumer ethnocentrism D) conspicuous consumption E) consumer

The simplest way to enter a foreign market is through direct investment. Answer: FALSE Answer: FALSE Answer: FALSE The American marketing system never has been accused of poorly serving disadvantaged consumers. Answer: FALSE Answer: FALSE Answer: FALSE Corporate identity materials help create a corporate identity that the public immediately recognizes. Answer: TRUE Answer: TRUE Answer: TRUE Training online instead of

Which of the following is NOT a reason that companies use social media? A) cost effectiveness B) engagement and social sharing capabilities C) ease of creating content D) immediacy and timeliness E) interactiveness Answer: C Answer: C Answer: C In recent years, service differentiation among retailers has ________. A) increased at a steady rate B) decreased C) stayed the same D) increased

Waldo Stores will reward an all-expense-paid trip to Hawaii to anyone who correctly guesses the date on which Waldo Stores was first established in the Boston area. Which type of sales promotion is evident here? A) contest B) sample C) premium D) trade promotion E) point-of-purchase promotion Answer: A Answer: A Answer: A Gilron Holidays runs a premium

At the beginning of each year, the management of Dee Decor states the exact amount a salesperson should sell. This specific sales target is also known as a ________. A) sales lead B) prospect C) bill of sale D) channel length E) sales quota Answer: E Answer: E Answer: E When companies watch both their buyers and their

Some consumers worry that they will be affected by marketing messages without even knowing it. They are concerned about ________. A) alternative evaluation B) subliminal advertising C) selective retention D) cognitive dissonance E) selective communication Answer: B Answer: B Answer: B Which of the following is an external source for ideas? A) project managers B) engineers C) salespeople D) manufacturing staff E) suppliers

Branded community Web sites are designed to present brand content that engages consumers and builds closer customer relationships rather than to sell the company's products directly. Answer: TRUE Answer: TRUE Answer: TRUE Buzz marketing involves cultivating opinion leaders and getting them to spread information about a product or service to others in their

Some firms define their purpose in narrow product terms. Others that define their purpose in broad social terms follow ________. A) societal marketing B) sense-of-mission marketing C) consumer-oriented marketing D) customer-value marketing E) consumerism Answer: B Answer: B Answer: B A(n) ________ consists of one or more independent producers, wholesalers, and retailers, each seeking to maximize its own

Firms that practice product differentiation gain competitive advantage through the way they design their channel's coverage, expertise, and performance. Answer: FALSE Answer: FALSE Answer: FALSE Most companies use direct marketing as a supplementary channel or medium. Answer: TRUE Answer: TRUE Answer: TRUE As baby boomers reach their peak earning and spending years, they become lucrative markets

An integrated social marketing campaign likely could include all of the following except ________. A) Facebook pages B) Twitter postings C) Instagram photos D) iTunes podcasts E) YouTube videos Answer: D Answer: D Answer: D Refer to the scenario below to answer the following question. Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside

List two benefits of using secondary data. Answer: Secondary data can usually be obtained more quickly and at a lower cost than primary data. Also, secondary sources can sometimes provide data an individual company cannot collect on its own'information that either is not directly available or would be too expensive

In ________, text-based ads and links appear alongside search engine results on sites such as Google, Yahoo!, and Bing. A) content sponsorships B) digital billboards C) digital catalogs D) contextual advertisements E) RSS feeds Answer: D Answer: D Answer: D Brands in a market with many competitors and high advertising clutter must ________. A) have very high prices compared

A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure? A) The products were priced too high. B) The products were

Company growth through diversification involves offering modified or new products to the company's current markets. Answer: FALSE Answer: FALSE Answer: FALSE Individual marketing is also known as one-to-one marketing, mass customization, and markets-of-one marketing. Answer: TRUE Answer: TRUE Answer: TRUE Concept testing works best with people who are familiar with the new idea and the new

Which of the following message execution styles focuses on the company's skill and knowledge in making the product? A) endorsement B) scientific evidence C) slice of life D) technical expertise E) testimonial evidence Answer: D Answer: D Answer: D A marketing research company asked members of a focus group to describe several brands as animals. The purpose of

The difference between human needs and wants is that needs are not created by marketers. Answer: TRUE Answer: TRUE Answer: TRUE In the territorial sales force structure, each salesperson is responsible for selling a single, exclusive product across different geographical regions. Answer: FALSE Answer: FALSE Answer: FALSE Derived demand refers to the business demand that ultimately

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences? A) concept testing process B) customer value proposition C) customer-centered new product development D) customer lifetime value E) team-based new product development Answer: C Answer: C Answer: C By definition, ________ pricing is used when a firm sells a product