Notforprofit organizations are generally less concerned with the bottom line than
forprofit organizations.
a. True
b. False
A(n) _____ strategy focuses on developing entirely new products for new markets.
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
Which of the following is an example of a rebate offered to buyers?
a. Getting $25 off a $100 purchase on exchange of a used product.
b. Getting $3 off a $100 purchase for paying the bill within 10 days.
c. Getting $5 returned by mail after a $100 purchase for making the purchase.
d. Getting $100 off a $1,000 purchase for buying in bulk quantities.
The Tostitos BCS National Championship game features the top two college football
teams competing for the national title. The Tostitos brand name is included in the
event’s name because Frito-Lay, the manufacturer, paid for:
a. sponsorship.
b. co-branding rights.
c. direct marketing privileges.
d. cooperative advertising.
Which of the following is the purpose of adopting a meeting-competition pricing
objective?
a. Market share
b. Sales maximization
c. Profit maximization
d. Value pricing
A probability sample relies on personal judgement somewhere in the selection process.
a. True
b. False
Market segmentation attempts to isolate traits that distinguish a certain group of
consumers from the overall market.
a. True
b. False
Marketers should not simply assume that their social media marketing (SMM)
campaigns are achieving the desired results. Rather, formal monitoring and measuring
techniques should be used to assess the effectiveness of an SMM. Some firms calculate
return on investment (ROI) for SMM campaigns. An ROI measurement of an SMM
should asses the percentage of people exposed to the SMM, also called __________ as
well as the number of times a consumer is exposed to the SMM, also called
__________.
a. breath; depth
b. effectiveness; efficiency
c. span; quantity
d. reach; frequency
e. volume; velocity
If a firm decides to make a major investment in a firm that supplies raw materials to it,
this would be an example of ______________ planning. If a university decides to add
courses in ethics and business analysis to its master’s degree program, this would be an
example of ____________ planning.
a. Tactical, Strategic
b. Marketing, Operational
c. Strategic, Organizational
d. Organizational, Tactical
e. Strategic, Tactical
Pricing decisions are influenced by a variety of legal constraints imposed by federal,
state, and local governments.
a. True
b. False
Which of the following is true of specialty products?
a. Purchasers are usually bargain hunters who are not willing to pay much.
b. Purchasers begin shopping with complete information of the desired product.
c. Purchasers tend to exert minimal effort to obtain the desired product.
d. Purchasers generally accept substitutes if the desired product is unavailable.
A yogurt brand is trying to extend the product’s lifecycle by promoting its use as a
replacement for mayonnaise. The primary goal of this strategy is to:
a. Increase frequency of use
b. Increase the number of users
c. Change product design
d. Find new uses
e. Compete with mayonnaise
The most direct form of competition occurs among marketers of dissimilar products.
a. True
b. False
You have been asked to evaluate the services provided to your book publishing firm by
its wholesaling intermediaries. To begin, you create a table listing the types of services
your firm expects to receive from each of these specialists. The table includes all of the
following except:
a. Providing a sales force to call on bookstores
b. Maintaining book warehouses
c. Providing prompt delivery of new books
d. Evaluating the credit risk of small or independent book shops
e. Repairing damaged books
Samantha offers special discounts for customers who order her jewelry online instead of
buying it at her shop in the mall. Her business partner, Julie, challenges this approach.
What point(s) does Julie make?
a. Samantha is creating unhealthy competition among the company’s own products.
b. The general trend in marketing is to standardize pricing across channels.
c. Online discounts will undermine the brand image more than in-store discounts.
d. Few jewelry buyers are multichannel shoppers.
e. The most profitable retailers are those that focus on luring buyers to their physical
stores.
Which of the following forms the first half of the exchange process?
a. Standardizing
b. Buying
c. Selling
d. Storing
Which of the following is true regarding relationship marketing compared to transaction
marketing?
a. it is based in cooperation and trust between parties
b. ranks profitability as a high priority
c. is focused on the short-term
d. emphasizes achieving sales goals
_____ are an outcropping of banner ads that appear on the results page of a search and
are specific to the searched term.
a. Pop-ups
b. Interstitials
c. Advergames
d. Keyword ads
With the increased use of big data, marketing research reports should be:
a. directed to other researchers.
b. directed to company management.
c. filled with details of research methods.
d. written in technical terms.
Motels and luxury hotels cater to the same want satisfaction-a place to stay. However,
their respective guests have considerably different expectations of service. Which of the
following characteristics of services best represents these different expectations in
service?
a. Services are intangible.
b. Companies cannot easily standardize services.
c. Service standards show wide variations.
d. Services are perishable.
Stepan, a global chemical supplier maintains an external, private exchange called a(n)
________ which enables its raw materials suppliers to share information such as new
product development and work cohesively as partners to arrange logistics and schedule
delivery to various Stepan manufacturing facilities across the globe.
a. cbusiness exchange
b. intranet
c. electronic date interchange
d. ebusiness portal
Ensuring ethical practices means promising customers and business partners to sacrifice
quality and fairness for profit.
a. True
b. False
Subtracting depreciation and net interest expense from the firm’s operating profit
reveals the firm’s taxable income.
a. True
b. False
Sam is a sales representative with Stepan, a global chemical supplier with
manufacturing operations around the globe. Sam is based in the Midwest and Procter
and Gamble is one of his accounts. Stepan is known as a quality producer of surfactants
which are utilized by companies like Procter and Gamble to make their products work
better. For example, Procter and Gamble utilizes surfactants in Tide detergent in order
to get clothes cleaner and separate the “cleaning agent” from the water. Stepan produces
their surfactant as one of their “finished products” but when added to Tide detergent, the
surfactant from Stepan becomes a final product of Procter and Gamble. Which type of
business product are Stepan’s surfactants?
a. component parts and materials
b. raw materials
c. supplies
d. accessory equipment
Which of the following phases in the history of U.S. government regulation sought to
increase competition among industries by permitting them to expand their services into
the new markets?
a. The consumer protection phase
b. The antimonopoly period
c. The industry deregulation phase
d. The phase aimed at protecting competitors
The socialcultural environment a firm operates in is constantly changing, and having a
significant impact on marketing strategies. The change is so rapid and immense that
some firms have created a new position in the organization to handle this change.
Which title best describes the new position described in the scenario?
a. Manager of Customer Relationships
b. Manager of public policy research
c. Manager of social media
d. Vice President of diversity marketing
e. Vice President of consumer advocacy
A local furniture store was recently penalized for continuously using a “going out of
business” message in its marketing communications to influence shoppers to visit the
store and assume that prices would be very low. This ethical issue is linked to the _____
variable of the marketing mix.
a. promotion
b. product
c. distribution
d. price
Bank of Norasmus is one of the few banks that provides credit to disadvantaged
communities. These loans are used for housing, small business creation, and education
or personal development. Such an organization is said to be involved in _____.
a. credit based investing
b. socially responsible investing
c. sustainability
d. environmental management
Which of the following is true of the practice of homeshoring?
a. It reduces a company’s spending on health care.
b. It increases a company’s spending on supplies.
c. It increases the amount of energy consumed by the company.
d. It increases a company’s impact on the environment.
A market structure in which a single seller dominates trade in a good or service for
which buyers can find no close substitutes is referred to as a(n) _____.
a. breakeven analysis
b. tariffs
c. unfair-trade laws
d. incremental-cost pricing
e. profit maximization
f. demand
g. value pricing
h. monopoly
i. elasticity
j. marginal
k. fair-trade laws
l. yield management
m. oligopoly
n. cost-plus pricing
o. full-cost pricing
p. supply
q. marginal analysis
r. target-return objectives
s. market-share objectives
t. pure competition
Briefly explain the three levels of relationship marketing.
What is the use of psychographic segmentation to marketers?
List out the various Internet fraud issues that consumers and businesses face in
emarketing.
Give a brief description of strategic alliances and business partnerships.
What is a multinational corporation? How have these organizations evolved?
Explain the four components of business-to-business markets.
Differentiate between direct and indirect competition with examples.
Write a brief note on search marketing.
What is emarketing? Differentiate between emarketing and online marketing.
How do blogs and microblog postings help companies to market their products?
Why do some manufacturers directly distribute their goods to the ultimate consumers?
List out the different types of company-owned facilities used by manufacturers for this
purpose.
What are some of the organizational goals that pricing strategies can help not-for-profit
organizations achieve?
What distinguishes the business buying process from the consumer buying process?
What do B2B marketers need to understand about organizational buying behavior?
What is perception? What are the factors that influence a person’s perception of an
object or event?
Define cannibalization and give an example.