Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
At the second level of relationship marketing, buyers and sellers develop a dependence
on one another that continues to grow over time.
a. True
b. False
Horizontal conflict causes problem between different types of marketing intermediaries
that handle similar products.
a. True
b. False
Social responsibility includes marketing philosophies, policies, procedures, and actions
whose primary objective is to enhance society and protect the environment through
sustainable products and practices.
a. True
b. False
A company that chooses to focus its efforts on satisfying only one market segment for
profit is using a(n) _____ strategy.
a. niche marketing
b. societal marketing
c. undifferentiated marketing
d. mass marketing
Jamie is the regional sales manager for Sherwin Williams paint company and oversees a
team of 40 outside sales representatives. She meets with her sales managers on a
monthly basis to review budgets and track the team's progress in meeting its sales
quotas in order to reach company objectives. Jamie requires that each sales manager
collaborate with their individual sales representatives to develop weekly call schedules
and account plans. What type of planning is Jamie and her sales managers engaged in?
a. operational planning
b. strategic planning
c. tactical planning
d. constructive planning
Which of the following is a method for subjecting a product idea to additional study
before actual development by involving consumers through focus groups, surveys,
in--store polling, and similar strategies?
a. Line extension
b. Brainstorming
c. Sample distribution
d. Concept testing
Which of the following statements is correct regarding notforprofit organizations?
a. The sole common factor between notforprofit organizations and forprofit firms is the
financial bottom line.
b. Notforprofit organizations hope to generate as much revenue as possible to support
their causes.
c. Notforprofit organizations are all found in the public sector.
d. Historically, notforprofit firms have had more exact goals and marketing objectives
than forprofit firms.
A _____ strategy concentrates on finding new markets for existing products.
a. market penetration
b. market development
c. product development
d. product diversification
_____ is a hightech scam that uses authenticlooking email or popup messages to get
unsuspecting victims to reveal personal information.
a. wiki
b. extranet
c. encryption
d. emarketing
e. private exchange
f. bot
g. search marketing
h. electronic signature
i. phishing
j. blog
k. clickthrough rate
l. conversion rate
m. electronic shopping cart
n. firewall
o. eprocurement
p. vishing
q. spam
r. podcast
s. preroll video ad
t. engagement
_____ refers to loss of sales of an existing product due to competition from a new
product in the same line.
a. trade dress
b. brand preference
c. brand insistence
d. generic product
e. family brand
f. brand equity
g. product diversification
h. trademark
i. brand extension
j. consumer innovator
k. brand name
l. private brand
m. brand manager
n. universal product code (UPC)
o. cannibalization
p. product liability
q. captive brand
r. brand mark
s. line extension
t. label
Scott has an 8-year-old Labrador Retriever who's starting to suffer from arthritis. On a
recent trip to his veterinarian, the doctor recommended that Scott start using a
prescription anti-inflammatory and pain medication for his dog. The veterinarian thinks
a new drug, Previcox is extremely effective but relatively expensive at $1 per dose
which is given daily. The drug sales representative has provided the veterinarian with a
promotion opportunity where new customers can receive a VISA gift card of $12 when
a new prescription is filled. The drug company is offering the veterinarian and their
customers a(n):
a. rebate
b. contest
c. coupon
d. trade allowance
A customer of All World Bank receives telemarketing calls and emails from the bank’s
business partners, Specialty Insurance and Global Investments. Since the customer has
signed into the Do Not Call Registry, these companies are in violation of the federal
regulation.
a. True
b. False
_____ involves paying search engines, such as Google, a fee to make sure the
company’s listing appears toward the top of the search results.
a. Search engine optimization
b. Page ranking
c. Interactive marketing
d. Contextual advertising
Closure refers to a person’s tendency to be influenced by messages that close the gap
between a product’s real and perceived advantages.
a. True
b. False
Setting prices is a one-time decision for most products in most companies.
a. True
b. False
Marketers today are more savvy about integrating marketing channels and
standardizing pricing across channels.
a. True
b. False
The Organization of Petroleum Exporting Countries (OPEC) is a collective export
organization.
a. True
b. False
Bill's Restaurant is owned and operated by Chef Bill who oversees all aspects of his
business. He opened the restaurant 6 years ago and has been able to retain 90% of his
staff. His wait staff and kitchen support staff enjoy their work, are loyal to Bill and
believe it's one of the best restaurants in Owensboro, Kentucky. Their enthusiasm is
contagious and is one of the many reasons why Bill has continued to see steady
increases in sales - mostly from repeat customers. This example highlights the
importance of _________ to today's businesses.
a. employee satisfaction
b. customer retention
c. customer satisfaction
d. transaction marketing
You've noticed a decline in seafood orders at your restaurant, but you're unsure what is
causing the problem. So you've begun to talk with customers, monitor the restaurant's
Facebook page, and interview seafood suppliers. You are engaged in:
a. Informal investigation
b. Exploratory research
c. Situation analysis
d. Hypothesis formulation
e. Sales forecasting
What is a major source of information for U.S. companies that want to research global
markets?
a. Export.gov
b. Amazon.com
c. Google.com
d. Europa.eu
Compared to mail-order wholesalers, truck wholesalers tend to provide fewer services
and set lower prices because they incur lower operating costs.
a. True
b. False
The emergence of the marketing concept can best be explained by:
a. higher production levels.
b. greater sophistication in the production of goods.
c. the shift from a seller’s market to a buyer’s market.
d. a focus on product quality.
Michael is a marketer who conducts research for small startups. He has been consulting
for an agency that is having trouble managing data about various marketing mix
variables, sales, and consumer distribution across the United States. The head of the
company wants to be able to access information quickly and easily.
Which of the following should Michael suggest that the startup use to organize its
information?
a. data mining
b. business intelligence
c. competitive intelligence
d. marketing information system
e. marketing decision support system
The payment offered to a channel member for performing marketing functions is called
a _____.
a. cash discount
b. trade discount
c. quantity discount
d. rebate
Compared to first adopters, later adopters rely more heavily on impersonal information
sources while purchasing new products.
a. True
b. False
_____ refers to the use of marketing intelligence data to model scenarios and create
forecasts.
a. big data
b. exploratory research
c. secondary data
d. primary data
e. sampling
f. hypothesis
g. simple random sample
h. interpretative research
i. focus group
j. marketing decision support system
k. key performance indicator
l. predictive analytics
m. metrics
n. marketing research
o. quota sample
p. test marketing
q. cluster sample
r. data mining
s. convenience sample
t. controlled experiment
Which of the following defines an organization’s mission?
a. Process of anticipating future events and conditions
b. Companywide program for scaling down the productlines that are low on
profitability
c. Essential purpose that differentiates one company from others
d. Collection of limited periods during which key requirements of a market and a firm’s
particular competencies best fit together
What are the typical first and last steps in the personal selling process?
a. prospecting; closing the sale
b. approach; closing the sale
c. prospecting; follow-up
d. approach; follow-up
e. presentation; follow-up
Modified breakeven analysis combines the traditional breakeven analysis model with an
evaluation of advertising effectiveness to influence consumer purchases.
a. True
b. False
You work for an investment bank that is marketing a new credit card. As part of your
company’s marketing strategy, you come up with an animated penguin who is
associated with your services, and your company comes up with the slogan, “Shopping
with kings.” Your ad campaign is viewed by millions around the country through
television commercials, online ads, direct mail, and celebrity sponsors.
Which of the following would be considered feedback?
a. customers apply for your bank’s credit card
b. college-aged students appreciate the slogan
c. Your target market likes the animated penguin
d. young adults see the ad on a bus and call to ask questions
e. the media through which potential customers view the ads
A _____ charges low prices and offers fewer services.
a. full-service retailer
b. department store
c. discount house
d. convenience store
Private labels typically provide better profit margins than captive brands.
a. True
b. False
