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Brand managers may push too hard with coupons or other price incentives to the point
that customers will refuse to buy the product without these promotions.
Application fees, tuition, and fines are all examples of prices.
Researchers carefully design experiments with independent and dependent variables to
test predicted relationships among those variables.
In a company that operates in "silos," employees in customer service would be likely to
have regular communication with employees in marketing.
Each industry sets import quotas for its products to determine yearly production
volume.
Market-skimming is a more popular strategy for pricing new products, while
market-penetration is a more popular strategy for pricing products that are more
advanced in the product life cycle.
The method of emotion analysis provides more detailed and accurate information than
the method of sentiment analysis.
As Europe's leading distributor of building materials in the high-growth building
industry, Cie de Saint-Gobain of France is an example of a cash cow.
Marketers classify products based on where and how consumers buy the products.
A U.S. wool producer that wants to export its product to Europe could use a selling
agent or a merchandise broker.
Suppliers, customers, and employees have ready access to a company's intranet.
Opinion leaders influence younger consumers but usually have little or no effect on
adults seeking to make a major purchase.
Retailers like Sam's Club that promise bottom-dollar prices are often self-service
operations.
The direct cause of market fragmentation is the large number of new technological
products introduced annually.
Using transactional selling, a selling team consisting of company personnel from
various managerial levels each call on their counterpart in the customer organization.
The pure selling approach in marketing is exclusively associated with tangible items.
Failing to provide equal access to customers who appear economically disadvantaged is
both unethical and illegal.
Business-to-business marketing represents greater total sales than business-to-consumer
marketing.
To better tailor the services it offers to the needs of specific customers, First City Bank
should first collect, verify, and update the information it has about its customers.
The Six Sigma process is applied to products but not services.
The process of developing the Nike logo "Just Do It" as a way to communicate the
power and capability of people who wear Nike shoes is an example of encoding, as
defined by the communication model.
The only types of retailers that have proven that e-commerce can be profitable are the
traditional bricks-and-mortar retailers.
When Sherwin-Williams Paint Company has single ownership of integrated, successive
stages of production, distribution and retail, it has created a corporate VMS.
Per capita gross domestic product (GDP) may be a deceiving economic measure
because the wealth of a country may be concentrated among just a small percentage of
the population.
A truly sustainable marketing strategy should actually reduce prices in the long-term
because it encourages more efficiency and less waste.
Rack jobbers are important to both the producers and the customers of bulky products
such as coal, oil, or lumber.
Historically, marketers have measured success in a product category by their market
share.
Holiday Inn has divided the total customer market into smaller segments and selected
the most promising segments. Deciding what position it wants to occupy in these
segments is called targeting.
The members of Generation Y were born between 1965 and 1976.
Perception is an example of an internal influence on the consumer decision-making
process.
Which of the following is the final stop in the distribution channel in which
organizations sell goods and services to consumers for their personal use?
A) franchising
B) retailing
C) brokering
D) wholesaling
E) disintermediation
Which of the following is true of institutional advertising?
A) It is also known as public-service advertising.
B) It describes products as customer services.
C) It is primarily used to support sales promotion activities.
D) It promotes the activities or point of view of an organization.
E) It is used only by non-profit and government organizations.
Advertising, sales promotion, public relations, and buzz building activities are all
________.
A) channels that should be integrated under the concept of integrated marketing
communications
B) channels focused more on interactive marketing than traditional marketing
C) promotional tools used for push strategies but not pull strategies
D) promotional tools used for pull strategies but not push strategies
E) promotional tools adapted for use in mass marketing
During which stage of new-product development will management most likely consider
whether the new product will cannibalize sales of the company's existing products?
A) idea generation
B) marketing strategy development
C) business analysis
D) product concept development
E) test marketing
The owner of a pet grooming salon wants to calculate customer equity. Which of the
following is a step the owner of this pet grooming salon should complete?
A) Compare investments made by the salon owner in acquiring the customer to the total
amount of purchases made by the customer.
B) Compare investments made by the salon owner to retain this customer to the total
amount of taxes the salon owner pays.
C) Ask the customer if she is planning on getting any new pets.
D) Investigate how many other pet grooming salons are within five miles to determine
the likelihood of this pet owner returning to this salon.
E) Determine the age of the pet to estimate how much longer this customer may need
the services of the salon.
One year many customers' machinery wears out and needs to be replaced. The
following year no customers need new machinery. This is an example of ________
demand.
A) inelastic
B) fluctuating
C) elastic
D) consumer
E) static
An undifferentiated marketing strategy is most likely to be successful in which of the
following scenarios?
A) The market has many competitors.
B) The product or service has wide appeal.
C) Growth of the market has stabilized.
D) The market is slowly shrinking.
E) The market has a few strong competitors.
When marketers develop ________ strategies, they make decisions about product
benefits, features, styling, branding, labeling, and packaging.
A) communication
B) product
C) equity
D) total quality management (TQM)
E) Six Sigma
Which of the following costs is most likely associated with the commercialization stage
of new product development?
A) implementing trade promotion plans for channel members
B) paying groups of target consumers for product feedback
C) determining the product's planned price, distribution, and marketing budget
D) developing a prototype of the product
E) identifying target markets
Harley-Davidson's user profile includes both thrill-seeking and affinity for a
countercultural image. In addition to demographics, Harley-Davidson uses ________
segmentation to target markets.
A) value analysis
B) social class
C) geodemographic
D) socioeconomic
E) psychographic
Which of the following best explains why a 40-year-old woman and a 15-year-old boy
would interpret an ad for an age-minimizing makeup differently?
A) They respond in contrasting ways to different media.
B) They are not equally susceptible to noise.
C) They follow different communication models.
D) They have different frames of reference.
E) One is not as likely as the other to provide feedback.
A brand of variety stores is part of a wholesaler-sponsored voluntary chain. This means
these retailers are members of a(n) ________ vertical marketing system (VMS).
A) administered
B) conventional
C) corporate
D) horizontal
E) contractual
A ________ exists when an unauthorized party imports products and then sells them for
a fraction of the price of authorized products.
A) gray market
B) dual distribution system
C) disintermediation system
D) black market
E) dumping ground
The most commonly used measure of a country's economic health is the country's
________.
A) gross domestic product (GDP)
B) gross national product (GNP)
C) foreign exchange rate
D) cost of living
E) purchasing power parity (PPP)
Which of the following types of sales promotions would NOT be offered to a final
consumer?
A) rebates
B) push money
C) bonus packs
D) sweepstakes
E) premiums
A collection of products offered for sale in book form, usually consisting of product
descriptions accompanied by photos of the items, is a ________.
A) brochure
B) pamphlet
C) catalog
D) direct-mail item
E) telemarketing item
The fastest and most expensive mode of transportation is ________.
A) railroads
B) water
C) trucks
D) pipeline
E) air
Tiffany & Co jewelry can only be found in a very limited number of intermediaries.
This is an example of ________ distribution.
A) exclusive
B) intensive
C) independent
D) quality
E) high-end
Once a company has conducted exploratory research and reviewed the resulting data, its
next step is most likely which of the following?
A) conduct descriptive research
B) calculate the representative sample size
C) identify secondary data sources
D) select a primary data collection method
E) conduct qualitative research
In a(n) ________, sellers compete for the right to provide a product to a buyer.
A) reverse auction
B) dynamic auction
C) open auction
D) reserve auction
E) price-lining auction
Which of the following would be information included in a UPC code?
A) the customer's contact information
B) the ingredients of the product
C) the manufacturer of the product
D) the retailer of the product
E) the expiration date of the product
Which of the following is NOT an example of a marketing metric?
A) margin on sales
B) churn rate
C) touchpoint
D) cost-per-order
E) click-through rate
Which of the following types of managers would be most likely to engage in
operational planning on a regular basis?
A) the company's CEO
B) the company's sales manager
C) the company's vice president of product research and development
D) the company's vice president of human resources
E) the company's chief financial officer
One of the reasons given for the success of reality television shows is that the shows
appeal to a cultural bias that real-life drama is preferable to fiction. Americans desire
adventure and escapism that offer them the opportunity for participation but do not
require it. In terms of the five characteristics of innovations that affect the rate of
adoption, reality television shows have a high degree of ________.
A) innovation
B) complexity
C) tangibility
D) divisibility
E) compatibility
A(n) ________ is an extreme quota that completely prohibits commerce and trade with
a specific country.
A) tariff
B) embargo
C) protectionist quota
D) perfect monopoly
E) import
Which of the following is a true statement about the Four Ps of the marketing mix?
A) A decision about one of the Ps affects every other marketing-mix decision.
B) Price is always the most important of the Four Ps.
C) Place is typically the least important of the Four Ps.
D) The Four Ps have little effect on a product's market position.
E) The Four Ps are used to determine a product's target market.
Kyrgyzstan is a small mountainous country with a predominantly agricultural economy.
Cotton, wool, and meat are the main agricultural products and exports. Thirty-four
percent of the population lives below the poverty line. Kyrgyzstan is an example of a(n)
________.
A) BRICS country
B) least developed country (LDC)
C) industrializing country
D) developed country
E) G7 country
Which of the following statements about relationship selling is true?
A) Relationship selling primarily uses hard-sell tactics.
B) A salesperson selling new tires to tourists who are stranded in his community will
most likely use relationship selling.
C) With relationship selling, the salesperson tries to develop a win-win relationship
with customers.
D) People who engage in relationship selling do not prospect for new customers.
E) Relationship selling is a short-sighted approach.
Which generation was referred to as "busters" and was thought of as slackers who are
cynical about marketing?
A) Generation Y
B) Generation X
C) Baby Boomers
D) Millennials
E) Generation Z
When considering the four Ps in international marketing, advocates of ________ focus
on the unique characteristics of cultures and argue for products and promotional
messages tailored to each culture.
A) nationalization
B) standardization
C) localization
D) expropriation
E) ethnocentricism
When considering the four Ps in international marketing, advocates of ________ focus
on the similarities among cultures and argue that basic needs and wants are the same
everywhere.
A) nationalization
B) standardization
C) localization
D) expropriation
E) ethnocentricism
How are marketing objectives different from corporate objectives?
What are the phases involved in the development of a new product?
Identify two actions other than the purchase of a good or service that could be measured
through calculation of a conversion rate.
Explain how a sporting goods retailer could use both direct and indirect paths to data
creation.
Identify an important difference for marketers between Twitter and Facebook.
Explain how addictive consumption is a dimension of the "dark side" of marketing.
To determine the break-even point, a firm first needs to calculate the contribution per
unit. What does this mean?
A manager in a grocery store decides to place packages of pound cake in two different
locations in the store. One display of the cake also includes other bakery items. The
second display of the cake is in the vegetable section of the store, placed next to the
shelf full of boxes of fresh strawberries. The grocery store manager wants to learn
which of the two locations will most encourage customers to buy the cake. What format
of research is the store manager conducting? Explain your answer.
Tri Restaurant, Inc. is the parent company of three chains of restaurants. How might Tri
Restaurant, Inc. utilize the company extranet?
When setting prices, the company must consider its external pricing environment.
Describe three components of the pricing environment and how they affect businesses.
As a retailer, why might you increase the number of private-label brands you sell?
Explain the potential problems associated with the brand management system.
What is meant by merchandise breadth and depth? Give an example of a store for each
of the following: narrow assortment, broad assortment, shallow assortment, and deep
assortment.
A marketing buzzword is metrosexual. What are some characteristics of a person who
would be classified in this segment?
Why do marketers segment the market and use a target marketing strategy?
