Which of the following best explains why marketers do not consider social class
segments as strictly as they once did?
A) Many consumers buy according to the social class image they wish to portray rather
than according to where they actually fall in the social class framework.
B) Due to the Great Recession, members of the upper class have become members of
the middle class, and members of the middle class have become members of the lower
class.
C) Data related to social class are more complicated and difficult to obtain and analyze
than they once were.
D) Social class in the United States is more related to education and family history than
to wealth.
E) Members of the upper and middle classes are unlikely to be attracted to any products
marketed toward members of the lower classes.
Which of the following is the most popular of all social networking sites?
A) Facebook
B) Twitter
C) Instagram
D) Foursquare
E) Snapchat
A company is implementing ________ when it airs a television commercial to millions.
A) interactive marketing
B) viral marketing
C) mass communication
D) personal communication
E) buzz
A firm is using a(n) ________ strategy when it introduces a product at a very low price
to gain market share early on.
A) skimming price
B) trial pricing
C) intensive pricing
D) penetration pricing
E) high/low
Two forms of demand-based pricing are ________.
A) price bundling and captive pricing
B) price skimming and penetration pricing
C) fixed pricing and variable pricing
D) target costing and yield management pricing
E) price leadership and everyday low pricing
When a company provides financial support for an event such as a concert or
tournament, it is using the public relations activity of ________.
A) lobbying
B) sponsorship
C) ambient advertising
D) guerilla marketing
E) tryvertising
________ is a network of servers, all having different functions, providing an almost
infinite amount of storage space.
A) A social networking platform
B) The Cloud
C) The value chain
D) Wikipedia
E) The virtual marketplace
Trading firms that work out elaborate deals in which they trade or barter their products
with one another or even supply goods in return for tax breaks from the local
government are using ________.
A) protectionism
B) competitive intelligence
C) gray marketing
D) countertrade
E) inflation
The first phase of new product development is ________.
A) problem recognition
B) product concept screening
C) idea generation
D) product concept development
E) business analysis
Which of the following is a strategy that involves a company “ambushing” consumers
with promotional content in places consumers would typically not expect to see
information about a product or service?
A) sock puppeting
B) guerrilla marketing
C) direct selling
D) brand polarizing
E) crowdsourcing
A(n) ________ is a group of countries that have agreed to coordinate trade policies and
ease restrictions on the flow of products and capital across members’ borders.
A) monopoly
B) free trade zone
C) economic community
D) oligopoly
E) economic infrastructure
Which of the following is NOT an example of a demographic segmentation variable?
A) lifestyle
B) income
C) ethnic group
D) gender
E) age
In general, a research report will NOT include ________.
A) an executive summary of the report that covers the high points of the total report
B) a description of the research methodology
C) a discussion of the results of the study, including tabulations, cross-tabulations, and
additional statistical analysis
D) a discussion of limitations of the study
E) a situation analysis
Before selecting a targeting strategy, marketers should ________.
A) select media for an advertising campaign
B) develop segment profiles
C) compare target markets
D) implement a positioning strategy
E) finalize the marketing mix
McDonald’s placement of a small toy in each Happy Meal as a reward for coming to the
fast-food restaurant and ordering its food is based on which theory of learning?
A) operant conditioning
B) cognitive dissonance
C) cognitive learning
D) classical conditioning
E) observational learning
Which of the following is an advantage of using single sourcing?
A) Suppliers are more likely to remain cost-competitive.
B) Buyers are less reliant on one firm to deliver the needed goods without interruption.
C) The buyer and seller agree to be each other’s customers.
D) Consistency of quality of materials input into the product process is greater.
E) Buyers have other suppliers to fall back on if one supplier fails.
The group of American consumers born between 1965 and 1978 are called ________.
A) Baby Boomers
B) Echo Boomers
C) Generation X
D) Generation Y
E) Generation Z
Barry was sitting on a bench near the center of the shopping mall waiting for his wife to
finish her shopping when he was approached by a woman holding a clipboard and a
dress shirt. She asked if Barry had the time to answer a few questions about the shirt.
After Barry examined the shirt, the woman asked him to assess the quality of the shirt
and to state how much he would be willing to pay for the shirt. Barry participated in
a(n) ________.
A) focus group
B) observational interview
C) expert panel
D) experimental interview
E) mall intercept
________ are typically lower in social class than other adopter categories and are bound
by tradition.
A) Early adopters
B) Early majority
C) Late majority
D) Laggards
E) Impulse buyers
Which of the following is LEAST likely to happen at a full-service retailer?
A) Customers have access to alteration services.
B) Gift wrapping services are offered.
C) Customers seek and receive helpful guidance from trained sales associates.
D) Customers handle their own checkout process.
E) Product consultants are available to answer specialized questions.
An example of a(n) ________ is a five-foot-high cardboard display of Cap’n Crunch
next to Cap’n Crunch cereal boxes.
A) point of purchase (POP) display
B) incentive program
C) promotional product
D) co-op advertisement
E) case allowance
The group of people in the organization who participate in the purchase
decision-making process is referred to as the ________.
A) gatekeeper
B) resource center
C) buying center
D) purchasing hierarchy
E) purchasing office
A(n) ________ occurs when customers decide that two different brands of pain reliever
have the same product quality because they have basically the same product
characteristics and similar prices.
A) clouding effect
B) assimilation effect
C) bundling effect
D) contrast effect
E) price-placebo effect
When a firm analyzes the marketing environment, it is least likely to look at which of
the following?
A) the firm’s current strengths
B) the firm’s current weaknesses
C) the actions of competitors
D) the state of the economy
E) the cost of developing a new product
Which of the following is a service industry in the United States that is likely to see
growth due primarily to demographic changes?
A) living assistance for seniors
B) babysitting services for baby boomers
C) health services for medical tourists
D) technology consulting for businesses
E) database services for businesses
In which kind of market would a production orientation be most successful?
A) a buyer’s market in which supply exceeds demand
B) a market in which there are more sellers than buyers
C) a seller’s market in which demand is greater than supply
D) a market that sells only intangible products
E) an e-commerce market
A new product carries a low price for a limited period of time to attract customers in
what type of pricing strategy?
A) price skimming
B) trial pricing
C) penetration pricing
D) specialty pricing
E) price bundling
The major categories of business-to-business customers are ________.
A) producers, retailers, and consumers
B) resellers and governments
C) organizations, producers, and manufacturers
D) producers, resellers, and organizations
E) consumers and retailers
The method of setting prices in which marketers total all the costs for the product and
then add an amount to arrive at the selling price is called ________.
A) supply-based pricing
B) target costing
C) cost-plus pricing
D) yield management pricing
E) demand-based pricing
The ________ is the interaction between the customer and the service provider.
A) supply-demand exchange
B) transaction point
C) service encounter
D) service program
E) service promotion
Describe the process of perception and discuss how marketers can influence each
component of the perception process.
Explain the philosophy of customer relationship management (CRM).
When does a marketer use reminder ads?
What is predatory pricing?
Theresa Fielding owns an Internet company that sells gift baskets. Each customer can
pick out what she wants in the basket to make it a personalized gift. Theresa has
demographic information about buyers stored in the company database. The database
also has the address of each basket recipient, when each basket was sent, the contents of
each basket, and if it was sent for a special occasion. How could Theresa use this
database?
Identify three forms of competitive advantage a product could offer.
Explain channel power in a vertical marketing system.
Explain the concept of business-to-business marketing and give an example of a
business-to-business transaction.
Compare and contrast the concepts of lifetime value of a customer and customer equity.
Explain durable and nondurable goods. Give an example of each.
What are the similarities and differences between manufacturers’ agents and selling
agents?
Briefly describe the three stages of the business cycle that all economies go through.
Cellular phone service providers typically offer customers a set number of minutes for a
monthly fee plus a per-minute rate for extra phone usage. What is the pricing strategy
being implemented by these cellular phone service providers?
A firm has segmented its customers into two groups: high-volume customers and
low-volume customers. Explain the different styles of communication the firm should
implement to reach each group of customers.
Why does a firm’s number of prospects always equal or exceed its number of qualified
customers?