According to the commercialization stage of the new product development process,
following the decision to introduce the new product at a particular time, a company
must next decide ________.
A) where to launch the new product
B) how to launch the new product
C) why to launch the new product
D) what pricing strategies to implement
E) what marketing mix elements to use
Which of the following does NOT apply to channel systems?
A) Some channel systems consist of only informal interactions among loosely
organized firms.
B) Channel systems do not stand still; they evolve.
C) Some channel systems are formal interactions guided by strong organizational
structures.
D) Intermediaries play interchangeable roles in the system.
E) Different types of intermediaries develop and emerge.
A number of top fashion-modeling agencies would most likely be charged with
________ for jointly determining what commissions they charge for models.
A) prestige pricing
B) competitive pricing
C) price bundling
D) dynamic pricing
E) price fixing
________ sell standard merchandise at lower prices by accepting lower margins and
selling higher volume.
A) Merchant wholesalers
B) Discount stores
C) Full-service retailers
D) Limited-service retailers
E) Factory outlets
Within a company, who is most likely to perform strategic planning?
A) the president and vice presidents
B) the accounting and finance departments
C) the marketing and sales departments
D) cross-functional teams of divisional managers close to their markets
E) the manufacturing and production departments
A decision to position the product on high-performance quality will mean that the
________.
A) seller must charge a higher price to cover higher costs
B) seller must charge a lower price to attract more customers
C) producer must step down production
D) marketer must boost derived demand in the market
E) break-even volume will be fairly low
________ is the act of obtaining a desired object from someone by offering something
in return.
A) Valuation
B) Exchange
C) Market offering
D) Confiscation
E) Donation
Price is important to managers ________.
A) because prices cannot be changed quickly, so must be correctly determined
B) because a small percentage improvement in price can generate a large percentage
increase in profitability
C) but other marketing mix elements create customer value and build relationships
D) but product features can be changed more quickly
E) but has little impact on a firm’s market share
Which of the following is an internal source for new product ideas?
A) competitors
B) company employees
C) marketing research firms
D) trade magazines
E) government agencies
Apple used an album by the band U2 to promote the Apple Watch announcement.
Which of the following message execution styles is illustrated in this example?
A) personality symbol
B) musical
C) fantasy
D) lifestyle
E) slice of life
Making more sales to current customers without changing a firm’s products is known as
________.
A) market segmentation
B) market penetration
C) product diversification
D) product development
E) prospecting
The major purpose of test marketing is to provide management with the information
needed to make a final decision about ________.
A) the entire marketing program
B) which market to compete in
C) whether to launch the new product
D) how to compete in the market
E) how long to compete in the market
Marketing control involves four steps including all the following EXCEPT ________.
A) setting specific marketing goals
B) measuring the marketing plan’s performance in the marketplace
C) evaluating the causes of any differences between expected and actual performance
D) increasing the staffing in the planning department
E) taking corrective action to close the gaps between goals and performance
The AIDA model identifies the characteristics of an effective ________.
A) advertising budget
B) channel of communication
C) marketing message
D) marketing mix
E) marketing response
Greener-grass Inc. is a lawn care company providing landscaping and lawn
maintenance services to customers in and around Kansas City. The marketing team at
Greener-grass carefully tracks the moves of competing companies, watching for
shifting strategies and new promotions. The marketing team is also in constant touch
with customers, using surveys and other feedback methods to find out what kind of
services customers value the most. Greener-grass is most accurately described as having
a ________ orientation.
A) market
B) product
C) customer
D) competitor
E) leadership
Cleats, Unlimited developed a new style of soccer shoe. This is an example of
________.
A) product development
B) market development
C) market penetration
D) diversification
E) product differentiation
Which of the following wholesaler’s channel functions is demonstrated when a buyer
receives quicker delivery because wholesalers are located closer than producers?
A) financing
B) transportation
C) buying and assortment building
D) warehousing
E) risk bearing
Which of the following is a selling decision that may be called into question under the
law?
A) predatory pricing
B) product warranty
C) bait-and-switch advertising
D) promotional allowances and services
E) disclosure of customer rights
When using public relations, the company pays for space and time in the media.
For which product would a company use an exclusive distribution strategy?
A) luxury cars
B) newspapers
C) chewing gum
D) dairy products
E) soft drinks
Which of the following is an element of the marketing mix?
A) place
B) education
C) needs
D) wants
E) esteem
Consumer advocates call for additional consumer rights, including ________.
A) the right to be protected from unwanted marketing messages
B) the right to be well informed about important product aspects
C) the right not to pay any taxes included in the final price
D) the right to resell the product
E) the right to exchange the product if it is of the wrong size or style
In a ________ situation, the “in” suppliers may become nervous and feel pressured to
put their best foot forward to protect an account and the “out” suppliers may see the
present situation as an opportunity to make a better offer and gain new business.
A) straight rebuy
B) new task
C) reverse auction
D) modified rebuy
E) solutions selling
________ marketing features marketing messages and promotions delivered to
on-the-go consumers through their handheld devices.
A) Kiosk
B) Ambush
C) Direct-mail
D) Mobile
E) Catalog
Which of the following statements is true regarding the affordable method for setting a
promotion budget?
A) It is mostly used by large businesses.
B) It completely ignores the effects of promotion on sales.
C) It tends to place promotion first among spending priorities.
D) It leads to a certain annual promotion budget.
E) It almost always results in overspending.
Which of the following is a challenge of marketing through online social networks?
A) Results are hard to measure.
B) Users seldom have control over the online social networks.
C) Most existing networks are already controlled by major corporations and therefore
do not favor competitors.
D) It is difficult to get the approval of the online advisory board to post an ad in a social
network.
E) Marketing via online social networks is expensive and time-consuming.
Tristan and Juliet, a newly married couple who intend to go to Egypt for their
honeymoon, bought a Europe travel package on Jizo Inc., an online travel site. As they
have never seen Europe or used the services of Jizo before, they were largely dependent
on other customers’ feedback and signals for service quality. Which of the following
characteristics of service is highlighted in this instance?
A) service intangibility
B) service inseparability
C) service variability
D) service perishability
E) service distinction
According to Michael Porter, what are three effective competitive positioning
strategies?
A) middle-of-the-roaders, focus, and overall cost leadership
B) focus, differentiation, and middle-of-the-roaders
C) overall cost leadership, differentiation, and middle-of-the-roaders
D) overall cost leadership, differentiation, and focus
E) differentiation, market segmentation, and focus
________ refers to a market-coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer.
A) Individual marketing
B) Local marketing
C) Niche marketing
D) Undifferentiated marketing
E) Segmented marketing
When theaters vary seat prices due to audience preferences for seats in coveted rows,
they use ________ pricing.
A) customer-segment
B) location-based
C) time-based
D) product line
E) captive product
Growing Green, a U.S. company that markets organic and environmentally friendly
gardening and landscaping supplies and equipment, wants to expand the business
internationally. Growing Green managers are currently examining the rules imposed by
the WTO and the agreements made by NAFTA and the EU. In which stage of the
international marketing process is Growing Green?
A) deciding on the global pricing strategies
B) deciding which markets to enter
C) deciding how to enter the market
D) deciding on the global marketing program
E) looking at the global marketing environment
Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture
heavy machineries. In this instance, Sparex acts as a ________.
A) financial intermediary
B) supplier
C) retailer
D) customer
E) local public
A company that uses well-known celebrities to help sell its products is using ________
marketing.
A) interactive
B) internal
C) social
D) person
E) organization
Target recently opened temporary shops to celebrate limited-run collections by Jason
Wu in Toronto and Missoni in New York. These temporary shops are examples of
________.
A) lifestyle centers
B) pop-up stores
C) warehouse clubs
D) strip malls
E) category killers