In terms of the buyclass framework, the purchase of paper towels and toilet paper to
restock an employee restroom would be an example of a modified rebuy.
The most basic type of nonprobability sampling is a simple random sample.
A market research online community is an organized collection of data that can be
searched and queried to provide information about contacts, products, customers, and
inventory.
Department stores carry a narrow range of products with deep assortments within those
lines.
Existing brand equity can hamper the success of a brand extension strategy.
Traditional record labels are now able to control the online distribution piracy problems
that had plagued the music industry in the past.
In a laboratory experiment, a rat in a maze learns the quickest route to a piece of cheese
after several attempts. This is an example of observational learning.
A missionary salesperson stimulates demand for a product and is therefore a major part
of the close of the sale.
Foreign exchange rate is used more frequently than gross domestic product (GDP) as a
measure of a country’s economic health.
The trend of proliferation of information will provide greater opportunities for database
services, artificial intelligence systems, and other services that facilitate the storage and
transfer of knowledge.
In the communication model, noise is anything that interferes with effective
communication.
A merchandising allowance is a discount to a wholesaler or retailer based on the order
volume of a product.
Unlike direct marketing, personal selling focuses on direct communication with a
consumer or business customer.
Virtually everything an organization says and does is a form of marketing
communication.
When the NewWay Dry Cleaners and The Easy Laundromat in your hometown join
forces to pursue a new marketing opportunity, they are forming a horizontal marketing
system.
The long tail approach to segmentation indicates that companies can make money
selling small amounts of items that only a few people want as long as they sell enough
different items.
Managers using the Boston Consulting Group growth-market share matrix are assessing
the potential of a firm’s existing SBUs to generate cash needed to invest in other
businesses.
Mark believes he should pay more than $49.95 for a motel room; this price is his
internal reference price.
Pricing based on supply and demand is not a part of dynamic pricing.
Off-price retailers obtain surplus merchandise from manufacturers and offer
brand-name, fashion-orientated goods at low prices.
Automobiles, haircuts, tutoring, and lighting fixtures are all examples of consumer
goods.
Service industry jobs account for the majority of jobs in the United States.
From a marketing standpoint, a new product is anything that customers perceive as new
and different.
The supply chain only includes components dealing with the flow of materials internal
to the firm.
Cross-sectional design involves the systematic collection of responses to a consumer
survey instrument from one or more samples of respondents at one point in time.
On the Upper West Side of Manhattan, there are hundreds of independent restaurants
offering different specialties, services, and prices. The market for restaurants in this
neighborhood is in a state of monopolistic competition.
The number of Americans aged 65 or older has decreased since 2000.
One firm’s business ethics may be different from another firm’s business ethics.
A salesperson who telecommutes rather than travel to a home office and clients’ offices
is working from a virtual office.
The promotional strategy identifies how, when, and where the firm will make the
product available to targeted customers.
Suppliers are more likely to stay price competitive when the purchasing company uses
single sourcing than when it uses multiple sourcing.
Descriptive research is typically expressed in qualitative terms.
A restaurant that features a serve-yourself buffet, which eliminates the need for a full
wait staff, is using disintermediation.
An intranet is an external corporate communication network that uses Internet
technology to facilitate interaction among company employees, customers, and
potential customers.
To determine an ad’s click-through rate, marketers must know both the number of
click-throughs and the number of impressions.
A value proposition includes the whole bundle of benefits the firm promises to deliver,
not just the benefits of the product itself.
The largest adopter category is the early adopters.
Selective distribution strategies are most suitable for convenience products.
The poor quality of American products in comparison to Japanese products in the 1980s
led to the ISO quality revolution in American industry.
In the product concept development and screening phase of new product development,
successes generally occur much more frequently than failures.
Which of the following is a consumer group identified by the VALS™ system?
A) Young Digerati
B) Tweens
C) Kids & Cul-de-Sacs
D) Shotguns & Pickups
E) Experiencers
The network of physical things, vehicles, devices, and buildings in which designers
have embedded sensors, electronics, and network connectivity is called the ________.
A) extranet
B) intranet
C) virtual world
D) Internet of Things
E) location-based network
Chewing gum is stocked in many outlets in the same market or community; in fact, it is
placed in as many outlets as possible. This is an example of ________ distribution.
A) exclusive
B) selective
C) dual
D) intensive
E) disintermediated
Business-to-consumer companies are more likely to emphasize a ________ strategy,
while business-to-business companies are more likely to emphasize a ________
strategy.
A) pull; push
B) push; pull
C) push; pulse
D) pulse; pull
E) pulse; push
________ serve as visible markers to flaunt membership in higher social classes.
A) Heuristics
B) Psychographics
C) Status symbols
D) Reference groups
E) Opinion leaders
A product has three distinct layers. The second layer is the ________, which is the
physical good or delivered service.
A) actual product
B) augmented product
C) core product
D) innovation
E) brand
People’s diverse interests and backgrounds divide them into numerous groups with
distinct needs and wants, a condition most accurately described as ________.
A) market aggregation
B) market positioning
C) economic aggregation
D) differentiation
E) market fragmentation
In the ________ phase of new product development, marketers estimate the technical
and the commercial success of an idea for a new product.
A) problem recognition
B) product concept development and screening
C) idea generation
D) commercialization
E) technical development
Drop shippers do all of the following EXCEPT which one?
A) take title to the merchandise
B) take actual possession of the merchandise
C) take orders from retailers and industry buyers
D) bill retailers and industry buyers
E) assume the same risks as other types of limited-service merchant wholesalers
The triangular red Nabisco logo is an example of a ________.
A) patent
B) brand mark
C) trade character
D) brand meaning
E) cobrand
Channel members can help producers by identifying customer complaints, customer
preferences, and new competitors in the market. These are all examples of the
________ function of channel intermediaries.
A) communication
B) marketing
C) promotional
D) diverting
E) management
Companies that successfully practice customer relationship management measure
success by ________.
A) share of market and market growth rate
B) business potential and industry potential
C) share of customer and lifetime value of the customer
D) PRIZM and VALS™
E) cost of customer and duration of relationship with customer
In a(n) ________ culture, people tend to attach more importance to personal goals than
to the needs of the larger community.
A) collectivist
B) individualist
C) democratic
D) demographic
E) sociocultural
In price planning, a firm would be most likely to set a profit objective for which of the
following products?
A) a commodity such as coal
B) toothpaste
C) a fad such as Beanie Babies
D) lightbulbs
E) construction materials
Which of the following is a salesperson who works to develop long-term relationships
with particular customers and may hold the title of “account manager”?
A) an order taker
B) an order getter
C) a missionary salesperson
D) a new-business salesperson
E) a technical specialist
The supermarket sells boxes of pink diapers and blue diapers. This is an example of
segmenting by ________.
A) gender
B) age
C) ethnicity
D) social class
E) generation
Columbia Sportswear has introduced a new line of comfortable, lightweight clothing
for people who fish. An example of ________ is the decision to run a full-page ad in
Field & Stream magazine in May to get potential customers to ask their sporting goods
stores to carry the new products.
A) operational planning
B) strategic planning
C) business planning
D) portfolio planning
E) brand extension
Unlike innovators, early adopters of new products ________.
A) compose the smallest of the adopter categories
B) have greater concern for social acceptance
C) are upper class consumers
D) are light media users
E) are well educated
________ is a measure of the percentage of people in the target market who are
exposed to the media vehicle at least once during a given time period.
A) Reach
B) Frequency
C) Impression
D) Exposure
E) Gross rating
Which of the following is the symbol in the U.S. for legal registration of a trademark?
A) ™
B)
C)
D)
E) №
To reduce problems associated with the intangibility of the services offered by a
restaurant, the restaurant owner would be most likely to do which of the following?
A) lower entree prices between 4 p.m. and 6 p.m.
B) provide clean tablecloths and cloth napkins for each new customer
C) empower employees to handle customer complaints
D) offer a service guarantee to ensure customers that food quality will be consistent
E) offer regular employee workshops focusing on customer service
In which type of sales job is an employee LEAST likely to focus on relationship
selling?
A) new-business salesperson
B) team selling member
C) order taker
D) order getter
E) missionary salesperson
________ are goods offered either free or at low cost as an incentive to buy a product;
they may be in-pack, on-pack, or delivered through the mail.
A) Rebates
B) Bonus packs
C) Price-off packs
D) Premiums
E) Sweepstakes
________ is the process of thinking strategically about the big picture and where the
firm and its products fit within it.
A) The marketing mix
B) Total quality management
C) Marketing planning
D) Customer relationship management
E) Value proposition creation
To determine the break-even point, a firm needs to first do which of the following?
A) determine what percentage of the market it wants
B) determine the point at which supply equals demand
C) calculate the contribution per unit
D) conduct an environmental audit
E) determine total market share
Factors that increase a firm’s emphasis on ________ include purchases that consumers
buy infrequently and transactions that require negotiation.
A) m-commerce
B) mass marketing
C) public relations
D) direct marketing
E) personal selling
Sometimes supplier selection is based on ________, which means a buyer and a seller
agree to purchase each other’s goods and services.
A) requisition
B) reciprocity
C) customer references
D) outsourcing
E) reverse marketing
Which of the following provides marketers with the ability to identify where customers
are and to deliver ads that are relevant to the customers’ locations?
A) search engine optimization
B) monetization
C) in-app advertising
D) permission marketing
E) geo-targeting
Which of the following is a distribution system that uses different channels and
communication methods to reach and serve a target market?
A) a vertical marketing system
B) a horizontal marketing system
C) a hybrid marketing system
D) a logistics system
E) an intensive distribution system
After salesperson Danny O’Reilly has made a sale, he asks his customer if she knows of
anyone else who might also be interested in buying his products. Referrals such as these
are one method used in ________.
A) prospecting
B) cold calling
C) the preapproach
D) qualifying
E) completing follow-up
Which of the following is a disadvantage of the brand management system?
A) a tendency to avoid price differentiation
B) too much focus on the supplementary and complementary roles of all product lines
C) a tendency to overemphasize short-term gains in sales
D) an interdependent structure that can undermine personal responsibility
E) too much focus on establishing brand equity
________ are put in place to identify deviations in expected performance of marketing
efforts.
A) Predictive analytics
B) Marketing metrics
C) Marketing controls
D) Touchpoints
E) Data warehouses
What is the difference between data and information?
Why is reselling the customer an important part of confirmation after the adoption of an
innovation?
Give an example of how global retailers have adjusted their offerings to meet the needs
of different populations around the world.
How does a product category manager differ from a market manager?
Why is successful product management increasingly important as technology moves
forward and the marketplace becomes more globalized?
Explain cannibalization. How does a line extension strategy increase the risk of
cannibalization?
Explain how business planning helps managers in a firm.
When Top-Flite introduced its Strata golf balls with a new dimple design and more
solid core for better flight with metal clubs, the price was three times that of regular
balls. Pro shops still could not keep them in stock. What is the pricing strategy
implemented by Top-Flite, and why did the company choose this strategy?
What are the two types of price fixing? Briefly define each.
Economic and demographic data compiled by the U.S. Census Bureau are available at
little or no cost. In the terms of a marketing information system, what type of data is
this?
Explain how a firm benefits from customers who make multiple purchases versus
customers who make just one purchase.
A catalog retailer specializes in ceramic figures, paintings, books, and other decorative
items related to endangered animals. The company is considering donating 10 percent
of its net profit to the World Wildlife Foundation (WWF). This idea may attract more
customers who like the idea of a portion of their money supporting this charity that
works to save species. Provide several examples of primary and secondary data that the
retailer can use in its market research investigating the possible benefits of this plan.
What promotional efforts would a marketer be likely to employ if the communication
objective was to create desire for the product?
Explain why and how a company would adopt a consumer orientation.
Describe the practice of retail borrowing and explain why it is unethical.