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Which of the following is NOT a factor of external environment?
a. Culture of a country
b. Global economy
c. Demographics
d. Human resources of the organization
How do you separate intermediaries from buyers and sellers for the ownership of
merchandise in terms of taking title?
a. The intermediary neither owns the merchandise nor controls the terms of the sale.
b. The intermediary does not own the merchandise but controls the terms of the sale.
c. The intermediary owns the merchandise and controls the terms of the sale.
d. The intermediary owns the merchandise but does not control the terms of the sale.
Which of the following statements is true of the innovation matrix?
a. As a company moves away from its core capabilities, it moves through a range of
innovation.
b. If an SBU of a firm is in a market with low overall attractiveness, it must be
harvested.
c. Products are matched with markets to develop alternative marketing strategies.
d. Clearcut sectors define modern businesses’ growth better than the fluid growth
model.
Highquality customerfriendly experiences such as sales, service, product use, and
marketing are crucial to the success of ______.
a. relationship building
b. empowerment
c. relationship marketing
d. ondemand marketing
_____ refers to segmenting markets by region of a country or the world, market size,
market density, or climate.
a. Geographic segmentation
b. Benefit segmentation
c. Demographic segmentation
d. Usagerate segmentation
Which of the following is an advantage of using cost per contact to determine the media
mix for a product?
a. It allows advertisers to increase an ad’s effectiveness by reaching potential customers.
b. It enables an advertiser to compare the relative expenses of specific media vehicles.
c. It requires advertisers to pay only for the customers who view their ad.
d. It allows marketers to minimize the cost of advertising by reaching a large number of
people.
Which of the following refers to a careful coordination of all promotional messages for
a product or a service to ensure the consistency of messages at every contact point at
which a company meets the consumer?
a. Promotional mix
b. Integrated marketing communications
c. AIDA model
d. Content marketing
Which of the following should marketing managers remember when setting their social
media objectives for reaching a mass audience?
a. The reach of static messages is responsible for influencing people through
conversation.
b. A static message and a conversation are almost equally successful in influencing
people.
c. Influencing people through conversation will never be as successful as a static
message.
d. A static message will never be as successful as influencing people through
conversation.
The management of a firm has utmost control over the competitive environment that it
confronts.
a. True
b. False
A tax levied on the goods entering a country is called:
a. tariff.
b. quota.
c. exchange control.
d. market control.
Among department stores, specialty stores, drugstores, and convenience stores, the
gross margin is highest for specialty stores.
a. True
b. False
Managers do not need to quantitatively measure whether or not an objective has been
met.
a. True
b. False
Magnira Corp. is an apparel company. After a slow start, it saw a steep rise in the
number of its customers and a remarkable increase in its profits. However, with the
launch of competing apparel manufacturers in the market, the profits of Magnira have
started declining. To sustain its growth in the market, the managers of Magnira should
a. focus on primary demand stimulation rather than advertising the brand.
b. shift to aggressive brand advertising and open new branches of its stores.
c. advise top management to reduce the number of employees in the company.
d. distribute the company’s products at limited outlets.
With access to information, opinions, and sophistication well beyond their years, _____
are directly or indirectly responsible for sales of over $200 billion annually.
a. Baby Boomers
b. Millennials
c. teens
d. tweens
Which of the following is NOT a key provision of the Patient Protection and Affordable
Care Act?
a. Workers cannot be denied coverage.
b. Large employers must offer coverage to fulltime workers.
c. A worker can be denied coverage for a preexisting condition.
d. Young adults can stay on their parents’ plans until age 26.
_____ includes media such as television, magazine, outdoor, radio, or newspaper
advertising.
a. Paid media
b. Owned media
c. Earned media
d. Free media
The product life cycle (PLC) for a brand is usually longer than the PLC for a product
form.
a. True
b. False
The objective of brainstorming is to ______.
a. generate a large quantity of ideas through a process of rigorous objective evaluation
b. generate a small set of distilled ideas through a process of rigorous objective
evaluation
c. postpone objective evaluation and focus on the sheer quantity of ideas generated
d. postpone objective evaluation but eliminate ideas that do gain unanimous acceptance
___________ refers to the exponential growth in the volume, variety, and velocity of
information and the development of complex, new tools to analyze and create meaning
from such data.
a. Secondary data
b. Primary data
c. Big data
d. Marketing data
When Clayton Specialties enters the simultaneous product development phase for its
new engine, it will have its R&D department and marketing work sequentially on the
product.
a. True
b. False
ABC Apparel follows a marketoriented approach, whereas XYZ Apparel believes in a
salesoriented approach. Considering their approaches, it is evident that ______ has/have
a competitive edge in today’s market.
a. ABC Apparel
b. XYZ Apparel
c. both
d. neither
Your insurance agent provides you with a service that includes ______.
a. both mental stimulus processing and information processing
b. neither mental stimulus processing nor information processing
c. mental stimulus processing, but not information processing
d. information processing, but not mental stimulus processing
Which of the following represents a business’s concern for society’s welfare?
a. Corporate social responsibility
b. Opportunism
c. Preconventional morality
d. Moral relativism
Critics of Ansoff’s matrix mention that the matrix does not:
a. provide firms with different marketing strategies.
b. reflect the reality of how businesses grow.
c. indicate which types of markets can be created or entered given a company’s core
capabilities.
d. outline clearcut sectors for businesses.
Order fulfillment, manufacturing flow management, product development and
commercialization, and returns management are some of the key business processes.
a. True
b. False
Tennot Inc. sells used cars. It focuses solely on lowincome customers who prefer to buy
a used car rather than a new one. Therefore, it develops one marketing mix that targets a
lowincome demographic group. In this scenario, Tennot Inc. most likely uses a(n)
_____.
a. undifferentiated targeting strategy
b. multisegment targeting strategy
c. concentrated targeting strategy
d. universal targeting strategy
According to salesoriented firms, marketing means ______.
a. employing practices that deliver value and benefits to customers
b. building longterm, mutually rewarding relationships with customers
c. selling goods and services and reaping profits from them
d. enhancing individuals’ and society’s longterm best interests
Which of the following is correct about the product development strategy of Ansoff’s
strategic opportunity matrix?
a. It is a marketing strategy that tries to increase market share among existing
customers.
b. It is a marketing strategy that entails attracting new customers to existing products.
c. It is a marketing strategy that entails the creation of new products for present
markets.
d. It is a strategy of increasing sales by introducing new products into new markets.
Which of the following is true of the FTC’s Bureau of Consumer Protection?
a. It aims at preventing fraud and unfair business practices in the marketplace.
b. The bureau enforces federal laws that protect consumers.
c. It empowers consumers with free information to help them exercise their rights and
to spot and avoid fraud and deception.
d. All of the above are correct.
Julie works as a public relations executive in a firm and is definitive in her choice of
office clothes and accessories. She prefers to wear only certain brands. Hence, she is
always seen in clothes from Banana Republic and carries only Coach handbags to
office. Which psychographic variable is Julie exhibiting?
a. Motives
b. Personality
c. Geodemographics
d. Attributes
Kate is a customer care executive at a telecommunications service provider. She
receives a complaint from a customer about an unnecessary $10 charge on his phone
bill. If the company follows the customer service management process, Kate is most
likely to:
a. forecast whether such problems will arise in the future.
b. integrate the company’s internal capabilities with the customer’s needs.
c. provide a quick response to the customer using customer care software.
d. resolve the complaint only if the customer is highly valuable to the company.
How are act utilitarianism and rule utilitarianism similar?
a. Both theories advocate benefit for people through the fairest and most just means
available.
b. Both theories compare a current ethical dilemma with similar examples.
c. Both theories have flaws associated with predicting the future consequences of an
action.
d. Both theories are beliefs based on timeandplace ethics.
How does marketing strategy differ based on the level of involvement associated with
purchasing a product?
Discuss informative promotion and provide examples that illustrate successful
promotion of goods, services, and the support of nonprofit organizations.
Explain why mobile marketing has recently become so popular.
Explain product differentiation as a positioning strategy used by marketers to
distinguish their products from competitors. Identify some of the bases for positioning
that companies use to accomplish this.
Discuss the most common legal structures that affect international trade.
Discuss the concept of advergaming and how online games are used for advertising.
Discuss the role of price in promotion strategies for products.
Discuss the difference between owned media and earned media and discuss how each is
relevant in an interactive space.
How does the supply chain management of the mass production era differ from the
supply chain management practiced today?
Define warranty and differentiate between the two types of warranties.
Explain the role of social media in marketing and discuss the implications of social
media for marketers.
Explain what is meant by green marketing and provide examples of businesses
following green practices.
Discuss interpersonal communication and mass communication and how they are
different from each other.
Explain which factors marketers should focus on when deciding distribution strategies
for their service organizations.
Identify and discuss the economic factors that influence the external business
environment.
Discuss the process of market opportunity analysis.
Identify and discuss the challenges faced by service providers when deciding a pricing
strategy.
Briefly explain the process of defining a target market.
Discuss how business and government are interdependent, and discuss three legislative
acts that have had a positive impact on protecting American consumers.
Discuss what is meant by sampling when conducting market research. Identify the two
categories of samples, and provide examples of different types of samples from each
category.
