Which of the following best explains why a company would adopt an undifferentiated
targeting strategy?
A) to more efficiently focus on customer relationship management
B) to remove the need for positioning
C) to move a product to the next stage of its product life cycle
D) to take advantage of economies of scale
E) to reach the underserved “bottom-of-the-pyramid” consumers
When we need a(n) ________, price and product quality may be irrelevant to our
purchase decision.
A) emergency product
B) staple product
C) impulse product
D) shopping product
E) unsought product
Modifications to certain characteristics of what is being marketed are integral to the
________ approach.
A) pure selling
B) product improvement
C) market improvement
D) product fulfillment
E) market fulfillment
Which of the following is true of Web 2.0?
A) It categorized entries according to a strict taxonomy.
B) It offered two-way communication between marketers and consumers.
C) It was based on the open source model.
D) It was based on the wisdom of crowds model.
E) It improved as the number of users decreased.
Venture teams focus exclusively on which of the following?
A) products in the maturity stage of the product life cycle
B) products in the growth stage of the product life cycle
C) relationships with large, important customers
D) the development of a new product
E) the promotional plan for a new product
Which of the following is most likely intensively distributed?
A) Olympus digital cameras
B) BMW automobiles
C) Diesel blue jeans
D) Coca-Cola beverages
E) Nike running shoes
Through the data mining application of ________, marketers target promotional
strategies for products based on the records of which customers have recently
purchased certain other products.
A) customer retention
B) customer loyalty
C) customer acquisition
D) customer abandonment
E) market basket analysis
Marketers must balance the ________ of mass marketing with the ________ of offering
each individual customer exactly what he wants.
A) efficiency; effectiveness
B) effectiveness; efficiency
C) investment; cost
D) cost; investment
E) positioning; scale
The ________ method of promotional budgeting is based on determining the level of
spending necessary to accomplish specific promotion goals.
A) percentage-of-sales
B) competitive-parity
C) top-down
D) pull-push
E) objective-task
Which of the following is an example of a transaction that might occur in
business-to-business marketing?
A) Maurice buys a new razor on his way home from work.
B) The amateur gardener buys a new wheelbarrow.
C) The retail outlet buys athletic shoes to sell in its store.
D) The professional chef bakes a birthday cake for her son.
E) Robyn’s mother hires a math tutor to help Robyn pass algebra.
As part of her summer job, Martina was instructed to collect data from 10 people to
determine how they felt about a number of political issues, including socialized
medicine, food stamps, and educational vouchers. She asked her father, grandfather,
mother, brother, two uncles, and four sorority sisters to answer the survey questions.
Marina used a ________ sample.
A) probability
B) convenience
C) stratified
D) systematic
E) simple random
A ________ is a series of activities involved in designing, producing, marketing,
delivering, and supporting any product.
A) value proposition
B) production orientation
C) value chain
D) marketing concept
E) market position
To reduce inventory management costs, many companies use a system called
________, which involves carrying only small inventories of parts or merchandise,
often only enough for a few days of operation.
A) just in time (JIT)
B) level loading
C) stock outing
D) logistics management
E) enterprise resource planning (ERP)
With target costing, marketers first ________ and then ________.
A) build the marketing mix; identify the target market
B) segment and identify target markets; set different prices for each market
C) design the product; determine its cost based on target profits
D) use skimming pricing; use penetration pricing
E) determine a selling price market segments will pay; target costs to ensure that the
price is met
Voice-over internet protocol (VoIP) systems enable salespeople to ________.
A) access data from key partners
B) deliver text messages to key customers through a short-messaging system
C) track all aspects of customer interaction
D) avoid the capital outlay of a CRM system
E) make and receive phone calls anywhere just as though they were in the office
Marketers classify innovations based on their ________.
A) degree of newness
B) cost to manufacture
C) prices
D) creativity
E) rate of diffusion
In a(n) ________, all of the buyers know the highest price bid at any point in time.
A) reverse auction
B) dynamic auction
C) open auction
D) reserve auction
E) price-lining auction
All of the following are stages in the product life cycle EXCEPT which one?
A) introduction
B) adoption
C) growth
D) maturity
E) decline
Which of the following is most likely exclusively distributed?
A) BMW automobiles
B) Diesel blue jeans
C) Bazooka bubble gum
D) Prairie Farms yogurt
E) Coca-Cola beverages
What type of utility does warehousing provide to consumers by holding onto products
until consumers need them?
A) time
B) possession
C) production
D) form
E) packaging
________, which uses a data network to carry voice calls, is frequently used for
communication between salespeople and customers.
A) Voice-over internet Protocol (VoIP)
B) Customer relationship management (CRM)
C) Telemarketing
D) Partner relationship management (PRM)
E) Total quality management (TQM)
The ________ provides managers with four different fundamental marketing strategies:
market penetration, market development, product development, and diversification.
A) BCG growth-market share matrix
B) portfolio analysis
C) strategic plan
D) SWOT analysis
E) product-market growth matrix
Which of the following is true about marketing analytics?
A) Its importance has increased as consumers conduct more of their daily activities
online.
B) It generates Big Data to be used in marketing decision making.
C) It is a departmental approach to separately analyzing the performance of different
marketing initiatives.
D) It can be used for information gathered from traditional marketing efforts but not
from digital marketing channels.
E) It can be used for information gathered from digital marketing channels but not from
traditional marketing efforts.
Many businesses today are abandoning traditional business attire and allowing their
employees to come to work in business casual that typically does not include ties,
cufflinks, or business suits. There has been a decrease in the sale of silk ties as a result
of this cultural trend. A decrease in consumer demand for silk ties has led to a decrease
in demand for silk because the demand for silk is ________.
A) independent
B) micro-dependent
C) derived
D) inelastic
E) fixed
Some consumers worry that they will be affected by marketing messages without even
knowing it. They are concerned about ________ advertising.
A) sensory
B) subliminal
C) perceptual
D) gamification
E) rich media
Which of the following identifies exactly what information marketers will collect and
what type of study they will conduct?
A) the research objective
B) the environmental context
C) the sampling method
D) the data collection method
E) the research design
Which of the following is true about the steps in the market research process?
A) The research design should be determined before the problem is defined.
B) The last step is to analyze and interpret the data.
C) The first step is to select a method of data collection.
D) The first step is to define the research problem.
E) Data must be collected before the sample can be designed.
A group coexisting with other groups in a larger culture whose members share a
distinctive set of beliefs or characteristics is a ________.
A) target market
B) market segment
C) social class
D) subculture
E) lifestyle
The last stage in the new product development process is ________.
A) commercialization
B) business analysis
C) generation
D) concept testing
E) product concept development
________ is the overall rank of people in a society.
A) The family life cycle
B) Mass-class
C) Subculture
D) Microculture
E) Social class
Consumers usually know a good deal about ________ and are loyal to specific brands.
A) specialty products
B) unsought products
C) impulse products
D) MRO products
E) emergency products
The break-even point is the point at which ________.
A) the total revenue and total costs lines intersect
B) demand equals supply
C) the production of one more unit will not increase profit
D) the company can pay all of its long-term debt
E) a firm’s profit goal is reached
GameStop sells video games and systems, offering a narrow product line with a deep
assortment within that line. GameStop is a(n)
________http://www.xbox.com/en-us/games/forza-6.
A) department store
B) convenience store
C) specialty store
D) general merchandise discount store
E) off-price retailer
A winery introduced a brand wine that it priced twice as high as its other wines. This is
an example of product extension by a(n) ________.
A) downward line stretch
B) product mix
C) cannibalization strategy
D) upward line stretch
E) two-way stretch