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Mass consumption and geographically dispersed markets make advertising particularly
appropriate for marketing goods and services aimed at large audiences likely to respond
to the same promotional messages.
a. True
b. False
The supply chain begins with:
a. the manufacturing or production activities.
b. the manufacturer seeking new markets for their products.
c. the movement of finished products through the marketing channel to customers.
d. the raw material inputs for the manufacturing process.
_____ is selling at the wholesale and retail levels that involves identifying customer
needs, pointing them out to customers, and completing orders.
a. span of control
b. field selling
c. inside selling
d. order processing
e. virtual sales team
f. team selling
g. approach
h. creative selling
i. presentation
j. sales promotion
k. premium
l. coupon
m. network marketing
n. cold calling
o. expectancy theory
p. over-the-counter selling
q. missionary selling
r. relationship selling
s. push money
t. consultative selling
Since the latter part of the 19th century, the U.S. government has played an activist role
in the financial markets and the market for goods and services. The emphasis of their
role has varied over this time as different issues and dynamics were at the forefront of
business and economic trends. The first phase of the U.S. government’s active
regulatory role, in the early part of the 20th century, can be best described as which of
the following?
a. The cyberspace phase
b. The consumer protection phase
c. The protecting consumers phase
d. The antimonopoly phase
e. The industry deregulation phase
Oneview is a social media platform that provides a space for its users to save, organize,
and tag links of their favorite websites. The users can also share these links with other
members of the platform. Oneview is an example of a _____.
a. social networking site
b. social news site
c. blogging site
d. bookmarking site
A marketing research organization that regularly provides a standardized set of data to
all customers is called a full-service research supplier.
a. True
b. False
When Sara developed a headache due to stress just before an important sales
presentation, she quickly bought a pain reliever from a nearby pharmacy. This is an
example of buying a(n)
a. shopping product
b. emergency good
c. staple
d. impulse good
After determining that a prospective customer is a good candidate to actually make a
purchase, the salesperson will want to gather as much information about the customer
as possible. This step in the sales process is known as:
a. presales research.
b. prospecting.
c. precall planning.
d. qualifying.
Retailers achieve opening price point by pricing a quality private-label product above
those of manufacturer’s brands.
a. True
b. False
Skimming is an effective strategy to use when products are distinctive or have little
competition.
a. True
b. False
Organizational resources include the capabilities of the firm’s production, marketing,
finance, technology, and employees.
a. True
b. False
Which of the following pricing strategies tries to reduce the emphasis on price as a
competitive weapon?
a. Penetration pricing
b. Everyday low pricing
c. Skimming pricing
d. Competitive pricing
The Asian American population is more geographically distributed than either
Hispanics or African Americans.
a. True
b. False
Gigi Hadid is an international fashion model with contracts with Maybelline and has
over 4.5 million followers on Instagram. She's on a quest to find the best cheeseburger
in New York City and recently posted that her favorite was from J.G. Melon on 3rd
Avenue. According to the text, Gigi Hadid is considered a(n) _________ since she has
the capability to affect the opinions and actions of others through social media.
a. influencer
b. innovator
c. media mogul
d. celebrity
Which age group of shoppers are most likely to spend time on the Internet?
a. Consumers aged 18 to 29
b. Consumers aged 65 or older
c. Consumers aged 11 or under
d. Consumers aged 50 to 64
Due to its low cost, the controlled experiment is the most commonly used method of
collecting primary data for marketing research.
a. True
b. False
Manufacturers attempt to balance consumer expectations of customary prices with the
realities of rising costs by increasing overall product size.
a. True
b. False
Six firms GM, Ford, Chrysler, Toyota, Honda, and Nissan share 90 percent of all U.S.
auto sales. Hence the U.S. auto market can be regarded as a monopoly.
a. True
b. False
_____ is a psychographic segmentation system that divides consumers into eight
psychographic categories based on resources and self-motivation.
a. target market
b. market segmentation
c. cohort effect
d. primary metropolitan statistical area
e. differentiated marketing
f. concentrated marketing
g. micromarketing
h. positioning map
i. VALS
j. AIO statement
k. core region
l. consumer product
m. demographic segmentation
n. Pareto’s law
o. psychographic segmentation
p. geographic information systems
q. positioning
r. geographic segmentation
s. business product
t. mass marketing
Which of the following market structure is characterized by the non-existence of direct
competitors?
a. Pure competition
b. Monopolistic competition
c. Oligopoly
d. Monopoly
The four basic consumer rights are: the right to be informed, the right to be heard, the
right to be safe, and:
a. the right to feedback.
b. the right to choose freely.
c. the right to sue.
d. the right to demand.
Understanding of differences among subcultures is essential for developing effective
marketing strategies.
a. True
b. False
Raw silk is an example of a consumer product.
a. True
b. False
Firms that price their products differently for online purchases face the risk of
cannibalization.
a. True
b. False
Which of the following was the prime reason behind the formation of regulations aimed
at protecting competitors?
a. To provide legal protection to independent merchants against competition from larger
chain stores
b. To reduce the concentration of industry power in the hands of a small number of
competitors
c. To increase competition in industries like telecommunications, utilities,
transportation, and financial services by discontinuing many regulations
d. To permit firms to expand their service offerings to new markets by discontinuing
many regulations
Marketers are constantly challenged by the dynamic forces operating in the marketing
environment. However, with the right approach this dynamic environment can be tamed
enough to make it possible to implement effective marketing strategies. The marketer
who successfully achieves organizational objectives by predicting and influencing the
five components of the marketing environment is doing which of the following:
a. Environmental scanning
b. Risk management
c. Porter’s Five Forces modelling
d. SWOT Analysis
e. Environmental management
Which of the following is the most important source of secondary data in the United
States?
a. Chamber of Commerce
b. Treasury Department
c. Federal government
d. Bureau of Labor Statistics
A publisher of children's picture books is a family business that has decided to export
their products to foreign bookstores. The family members expect to be very involved in
all the company's decisions. Which model of first-time exporting would best fit this
family business?
a. an offset agreement with a major international company
b. an export-management company
c. an export-trading company
d. a subcontractor on a large foreign project
e. direct investing in a bookstore in another country
In a stratified sample, each selected subgroup is relatively homogeneous for a certain
characteristic.
a. True
b. False
The 80/20 principle states that:
a. market segmentation succeeds 80 percent of the time and fails the remaining 20
percent of the time.
b. roughly 80 percent of total product sales come from 20 percent of customers.
c. nearly 80 percent of the market segment is generally tapped within first 10 years of
the introduction of the product, and 20 percent remains unreached.
d. 80 percent of the market can be segmented, and 20 percent cannot.
What are the steps that companies need to take while resolving an ethical or legal
mistake that has occurred during social media marketing?
How can we distinguish services from goods? Give an example of how buyers can play
an important role in the creation of services.
What are allowances? What are the major categories of allowances?
Explain the concept of marginal analysis.
Why has cyberspace become an important regulatory frontier for government
regulators? What are the measures being taken by the government to police the Internet
and other online services? Governments in certain countries are attempting to censor
the Internet. Do you think this is ethical? Justify your answer.
Explain the concept of elasticity of demand.
Explain the differences between qualitative and quantitative forecasting methods and
give examples of each.
Explain everyday low pricing.
Marketers define the role of each spouse in terms of four categories. List the categories
and provide an example of a purchase decision that traditionally falls into each
category.
Compare and contrast competitive bidding and negotiated prices.
What is product mix? How do marketers typically measure product mix? Measure the
product mix of a company you know of.
Why is global marketing important for a nation and its marketers?
How has the economy in the United States changed in the recent years?
Define reverse channels. List some factors that have contributed to the increasing
importance of reverse channels. How do firms operate reverse channels?
A(n) _____ accepts orders from customers and forwards these orders to producers,
which then ship the desired products directly to customers.
List the five factors that marketers should consider for classifying consumer services.
Who are the Baby Boomers? Why do marketers target this segment of the population?
