Nontariff trade barriers include restrictive product standards.
Causal research involves sending observers to watch and interact with consumers in
their natural environments.
The first step in the selling process is preapproach—learning about an organization and
its buyers.
The shift toward digital communication allows companies to keep control of message
exposure.
Geographic segmentation divides the market into segments based on variables such as
age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and
generation.
Thinking Cap Corp. prices its various cap designs at different price levels, ranging from
$2.05 to $5.95. This is an example of optional product pricing.
CAFTA-DR has eliminated all trade barriers and investment restrictions among the
United States, Canada, and Mexico.
A cigarette is an example of a salutary product.
A company’s marketing environment excludes the forces outside the marketing
department that affect marketing management’s ability to build and maintain successful
relationships with target customers.
Early mainstream adopters accept new ideas after the average person.
Many shoppers now check out merchandise in-store and then buy it online. This process
is called webrooming.
The exchange of U.S. wheat for Russian vodka would be an example of barter.
Services are growing more slowly in the world economy as a percentage of gross world
product than in the U.S. economy, as a percentage of gross domestic product.
After entering a market by using market-penetration pricing, a company can easily raise
its price and maintain its market share.
Company growth through diversification involves offering modified or new products to
the company’s current markets.
The Gen Xers are increasingly displacing the lifestyles, culture, and values of the baby
boomers.
Independent off-price retailers either are independently owned and run or are divisions
of larger retail corporations.
Informative ads are used primarily in the growth stage of the product life cycle.
Excess capacity leads to companies initiating an increase in price.
In a product sales force structure, no single salesperson can become an expert in all of
the product categories, so product specialization is required.
Direct marketing through catalogs and direct mailers is still the primary method used by
marketing professionals.
Salespeople do not represent customers to the company.
Integrated marketing communications calls for recognizing all communications
channels where the customer may encounter the company and its brands.
The American workforce today is less white-collar than in the late twentieth century.
Children exert little influence on family buying decisions.
In a complex sales force structure, salespeople can be specialized by customer and
territory; product and territory; product and customer; or territory, product, and
customer.
Product refers to the goods-and-services combination that a company offers to its target
market.
In the concept development stage, a firm will create a single product concept to test.
Companies use PR to build good relations with consumers, investors, the media, and
their communities.
In consumer-generated marketing, marketers play a bigger role in shaping consumers’
brand experiences and those of others.
In product line pricing, price steps should account for differences in customer
perceptions of the value of different features.
A competitive analysis involves first identifying and assessing competitors and then
selecting which competitors to attack or avoid.
Specialty products are consumer products and services that customers evaluate on
suitability, quality, price, and style, by gathering information and making comparisons.
In recent years, convenience stores have redesigned their stores to closely focus on
serving their primary target market made up of young, blue-collar men.
Marketing logistics involves planning, implementing, and controlling the physical flow
of goods, services, and related information from points of origin to points of
consumption to meet customer requirements at a profit.
Brand ________ refers to how consumers feel if a brand meets their needs.
A) differentiation
B) equity
C) dilution
D) esteem
E) relevance
Which of the following characterizes standardized global advertising?
A) higher advertising costs
B) no global advertising coordination
C) higher appeal to varying demographics
D) a more consistent worldwide image
E) lower reach
A catalog retailer in the United States has identified African American professionals
between the ages of 35 and 45 as a group of potential customers for its products. The
retailer plans to direct its marketing efforts toward this group of consumers. Which of
the following market segmentation variables did the catalog retailer most likely use?
A) demographic
B) psychographic
C) user status
D) loyalty status
E) usage rate
In the ________ stage of the new product development process, products undergo
rigorous tests to make sure that they perform safely and effectively, or that consumers
will find value in them.
A) product design
B) idea generation
C) concept development and testing
D) product development
E) product activation
Economic communities are also known as ________.
A) global firms
B) free trade zones
C) management communities
D) production communities
E) open channels
Companies that define their missions in terms of products or technologies are
considered myopic primarily because ________.
A) products and technologies result in low returns on investment
B) consumer preferences with regard to products and technology are difficult to predict
C) consumer preferences for different product categories vary from time to time
D) products and technologies eventually become outdated
E) most consumers are not comfortable using sophisticated technology during the
buying process
Challenges of managing big data include ________.
A) determining what information to request
B) investing in appropriate technology
C) hiring enough software engineers
D) properly routing the information after gathering it
E) accessing and sifting through so much data
Which of the following refers to a nonprobability sample in which the researcher selects
the easiest population members from which to obtain information?
A) quota sample
B) judgment sample
C) convenience sample
D) stratified random sample
E) simple random sample
A market-penetration pricing policy should LEAST likely be used for a new product
when ________.
A) the market is highly price sensitive
B) production and distribution costs fall as sales volume increases
C) the product’s quality and image support a high price
D) a high price helps keep out the competition
E) there are few or no competitors in the market
Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching
electronic collections of consumer information within the company network to arrive at
crucial marketing decisions. In this instance, Kei is using ________.
A) ethnographic research
B) internal databases
C) descriptive research
D) data warehouses
E) causal research
Bailey’s Burgers promotes the Bailey’s Jumbo Burger as a fun snack for teens and
young adults. In this instance, Bailey’s Burgers is practicing ________ segmentation.
A) benefit
B) age and life-cycle
C) psychographic
D) geographic
E) gender
Which of the following is the most likely circumstance for a company to decide to do
little or no test marketing?
A) when the new product requires a major investment
B) when management lacks confidence in the new product
C) when management lacks confidence in the marketing strategy
D) when the product has no substitutes and is new in its category
E) when the costs of developing and introducing the product are low
A(n) ________ serves to limit the amount of foreign exchange and the exchange rate
against other currencies.
A) exchange premium
B) free trade zone
C) quota
D) exchange control
E) tariff trade barrier
Differences between business markets and consumer markets include all of the
following EXCEPT ________.
A) nature of the buying unit
B) market structure and demand
C) number of buyers
D) people who make purchase decisions to satisfy needs
E) types of decisions and the decision process
As a consequence of the concern for the natural environment, many companies are
developing strategies and practices that support ________.
A) government intervention
B) environmental sustainability
C) deregulation
D) mass marketing
E) rapid exploitation of natural resources
Which of the following involves setting prices based on a rival firm’s strategies, costs,
prices, and market offerings?
A) target return pricing
B) good-value pricing
C) competitor value-added pricing
D) market-based pricing
E) competition-based pricing
A ________ is a group of retail businesses built on a site that is planned, developed,
owned, and managed as a unit.
A) warehouse club
B) franchise
C) shopping center
D) supermarket
E) hypermarket
Which of the following stages of the PLC is characterized with high promotional
expenditures that result from an effort to create consumer awareness?
A) growth
B) product development
C) maturity
D) introduction
E) decline
A market research firm conducts a survey of soft-drink consumers to assess Pepsi’s and
Coke’s strengths and weaknesses in attributes valued by both company’s target
customers. The market research firm is using a ________.
A) customer lifetime value estimation
B) global marketing strategy
C) competitive marketing strategy
D) customer value analysis
E) blue ocean strategy
Gilron Holidays runs a premium membership club that caters to customers whose
annual salary exceeds $100,000. Members of this club are offered seasonal discounts at
select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n)
________ segmentation approach.
A) gender
B) benefit
C) occasion
D) income
E) geographic
________ is an organized movement of concerned citizens, businesses, and government
agencies to protect and improve people’s current and future living conditions.
A) Consumerism
B) Environmentalism
C) Protectionism
D) Socialism
E) Aestheticism
Buyer responses are influenced by marketing stimuli. The responses to the stimuli
include all of the following EXCEPT ________.
A) brand engagement
B) buying attitudes
C) purchasing behavior
D) buying preferences
E) the “why” regarding the responses
Which of the following is NOT a market-oriented business definition?
A) “We empower customers to realize their dreams.”
B) “We make high-quality consumer food products.”
C) “We sell success and status.”
D) “We create the Hilton experience.”
E) “We bring innovation to every home.”
Which of the following best supports the idea that The Attic Trunk’s mature, wealthy
clientele can remain a viable target market?
A) Older, first generation Hispanic consumers are not especially family-oriented.
B) Older, first-generation Hispanic consumers favor sellers who show special interest in
them.
C) Older, first generation Hispanic consumers tend to be very price conscious.
D) Older, first generation Hispanic consumers tend to display little brand loyalty.
E) Older, first generation Hispanic consumers are motivated by mainstream marketing.
Donello Equipment hosts infomercials on television and at the same time allows its
viewers to interact with its advertisements. Viewers can request more details and order
via their Internet-ready smart televisions. Which of the following forms of marketing is
evident here?
A) catalog marketing
B) telemarketing
C) interactive television
D) podcast marketing
E) kiosk marketing
Marketers need an in-depth understanding of ________ if they want to anticipate how
that competitor will act.
A) the industry
B) a competitor’s mentality
C) a competitor’s strengths and weaknesses
D) a competitor’s business model
E) the market
Rather than assuming that strategic options are bounded by the current environment,
firms adopting a(n) ________ to the marketing environment develop strategies to
change the environment.
A) environmental stance
B) proactive stance
C) reactive stance
D) relativist approach
E) no-compromise approach
Moral appeals ________.
A) relate to the audience’s self-interest by showing that the product will produce the
desired benefits
B) attempt to stir up either negative or positive emotions that can motivate purchase
C) range from love, joy, and humor to fear and guilt
D) are directed to an audience’s sense of what is “right” and “proper”
E) are based on the idea that practical benefits are more important for consumers than
emotions
What is the most important consumer buying organization in society?
A) family
B) social class
C) membership group
D) subculture
E) reference group
Shoe Trends, a company that manufactures formal shoes for men and women, offers to
give its customers $10 for an old pair of shoes when they buy a new pair. In essence,
they’re reducing the price of the new shoes by $10. What is this type of price adjustment
called?
A) functional discount
B) captive product pricing
C) seasonal discount
D) trade-in allowance
E) by-product pricing
From a(n) ________ point of view, Pepsi might see its competition as Coca-Cola, Dr
Pepper, 7UP, and the makers of other soft drink brands. From a(n) ________ point of
view, however, the customer really wants “thirst quenching.”
A) market; industry
B) market; consumer
C) industry; competitive
D) industry; market
E) company’s; consumer’s
Because of ________, a company cannot make its product illegally similar to a
competitor’s already established product.
A) anti-monopoly laws
B) patent laws
C) the Consumer Product Safety Act
D) product warranties
E) product liability
In CRM, ________ techniques are used to sort through data and locate useful findings
about customers.
A) data warehousing
B) marketing analytics
C) niche marketing
D) data conservancy
E) mass marketing
Why is markup pricing most likely impractical?
A) Calculating costs is complicated due to fluctuations.
B) By tying the price to cost, sellers oversimplify pricing.
C) When all firms in the industry use this pricing method, prices tend to be similar.
D) The method ignores demand and competitor prices.
E) With a standard markup, consumers know when they are being overcharged.
To help recruit, train, organize, manage, motivate, and evaluate relationships with
channel partners, companies are now installing integrated high-tech ________ systems.
A) advertiser funded programming
B) customer segmentation network
C) brand content management
D) partnership relationship management
E) closed loop marketing
Why do marketers value opinion leaders?
What factors determine the success of a company’s value chain?
As competition and costs increase, and as productivity and quality decrease, what are
the three major marketing tasks facing service companies in contemporary times?
Distinguish between the service profit chain and internal marketing.
Define market penetration.
Marketing management must make four important decisions when developing an
advertising program. Briefly describe these four decisions.
Define marketing planning. What are the contents of a marketing plan?
What is the difference between core beliefs and secondary beliefs? Give an example of
each.
Explain the psychology behind a price of $9.99 instead of $10.00.
What are the strengths and weaknesses of e-mail marketing?
Name some common convenience products.
Identify the major advantage of the following forms of digital and social media
marketing: Web sites, viral marketing, e-mail, blogs, social media, and mobile ads and
apps.
What is the most common CRM mistake?
Explain the concept of integrated marketing communications (IMC).
Describe the most common forms of marketing organizations.
Describe the types of products that are exclusively distributed and provide examples.