Which of the following would fall under the category of personal determinants of
consumer behavior?
a. The culture in which a person is raised
b. The needs and motives of the individual
c. The subculture to which one belongs
d. The reference groups that the individual looks up for guidance
The division of the total market into smaller, homogenous groups is called _____.
a. customer aggregation
b. market capitalization
c. market segmentation
d. brand segmentation
Almost half of all eBay transactions occur at fixed prices.
a. True
b. False
A product diversification strategy focuses on developing entirely new products for new
markets.
a. True
b. False
Crowdtrail is a tool used by marketers to evaluate their social media presence by
tracking and evaluating users’ influence across various virtual communities. It provides
information regarding the number of clicks on a company’s website and also helps in
measuring the total reach, frequency, engagement, and other factors. Crowdtrail is an
example of a _____.
a. social networking site
b. bookmark
c. blog
d. social media analytics tool
Jim is the sales manager for a pharmaceutical firm. His boss has decided that Jim’s team
will need to earn their annual bonuses by achieving a 10 percent return on the
company’s investment in a blockbuster cold remedy. During a department meeting, Jim
explains this target return in terms of the firm’s overall pricing objectives. What is he
most likely to say?
a. Target return is a way to ensure cost recovery.
b. Target return enables the firm to achieve competition objectives.
c. Target return enables the firm to achieve profitability objectives.
d. Target return is effective as an evaluation tool but is not intended to achieve pricing
objectives.
e. Target return is a mathematical relationship, not a pricing tool.
An importer is a firm that sells goods manufactured domestically in foreign markets.
a. True
b. False
The Robinson family recently bought a car as they were offered a nointerest financing
option. The family’s annual vacation was also booked through a discount travel firm.
The family has purchasing power, but they prefer to spend their money cautiously like
most other families in the country. The above stated instances indicate which stage of
the business cycle?
a. Depression
b. Prosperity
c. Recession
d. Recovery
Which of the following is true of the role of distribution channels in a firm’s marketing
strategy?
a. They complicate the exchange process by increasing the number of marketplace
contacts necessary to make a sale.
b. They lead to discrepancies in the market’s assortment of goods and services between
the producers and the buyers.
c. They standardize exchange transactions by setting expectations for products
including the transfer process itself.
d. They deter the buyers’ search for specific goods to fill their needs, as well as the
sellers’ attempt to learn what buyers want.
Which of the following is a psychographic category created by the VALS system that
categorizes consumers by characteristics that correlate with purchase behavior?
a. Altruists
b. Achievers
c. Intimates
d. Devouts
The strategy of convincing a customer to buy a higher-priced item than he or she had
originally intended is called:
a. cross-selling.
b. value-added selling.
c. selling up.
d. bait-and-switch selling.
The use of bots to search out price quotes on specified products forces Internet
marketers to:
a. keep their prices low.
b. install “bot-stoppers.”
c. use printer-disabling viruses.
d. close their websites.
_______ customers are _____ likely to share information about their buying
experiences.
a. Unhappy; more
b. Happy; more
c. Unhappy; less
d. Loyal; more
A(n) _____ is an urbanized county or set of counties with social and economic ties to
nearby areas.
a. target market
b. market segmentation
c. cohort effect
d. primary metropolitan statistical area
e. differentiated marketing
f. concentrated marketing
g. micromarketing
h. positioning map
i. VALS
j. AIO statement
k. core region
l. consumer product
m. demographic segmentation
n. Pareto’s law
o. psychographic segmentation
p. geographic information systems
q. positioning
r. geographic segmentation
s. business product
t. mass marketing
A 5 percent increase in the price of corn flour that results in a 15 percent increase in the
quantity supplied yields a price elasticity of supply for corn flour of:
a. 2.0.
b. 2.5.
c. 3.0.
d. 3.5.
Julia is developing new promotional strategies for the services offered by her firm and
is focusing on finding information about her firm’s competitors. She is looking through
published sources, as well as reviewing her competitors’ advertising. According to this
information, Julia is gathering _____.
a. progressive information
b. competitive intelligence
c. situational data
d. competitor forecast
Merchandisers are trade sector buyers who secure needed products at the best possible
prices.
a. True
b. False
Introducing a new product in a specific area and then observing its degree of success is
called _____.
a. big data
b. exploratory research
c. secondary data
d. primary data
e. sampling
f. hypothesis
g. simple random sample
h. interpretative research
i. focus group
j. marketing decision support system
k. key performance indicator
l. predictive analytics
m. metrics
n. marketing research
o. quota sample
p. test marketing
q. cluster sample
r. data mining
s. convenience sample
t. controlled experiment
The most important goal of a marketing website is to:
a. give prospective employees the opportunity to apply for jobs online.
b. provide financial information to investors.
c. increase purchases by visitors.
d. build relationships with customers.
A(n) _____ is an imbalance between a consumer’s actual and desired states.
a. evoked set
b. consumer behavior
c. culture
d. reference group
e. Asch phenomenon
f. opinion leader
g. need
h. motive
i. perception
j. attitude
k. learning
l. subliminal perception
m. high-involvement purchase decision
n. closure
o. cognitive dissonance
p. routinized response behavior
q. shaping
r. perceptual screens
s. evaluative criteria
t. self-concept
As compared to happy customers, unhappy customers typically talk less about their
buying experiences.
a. True
b. False
Which of the following tasks least describes the role of a brand manager?
a. making the product relevant to its target market
b. protecting the company’s trademark and brand
c. ensuring that products are perceived as high in quality
d. offering opportunities to enhance consumer brand loyalty
e. being familiar with the kinds of emotions that push consumers to buy
The Federal Trade Commission in the United States views reciprocal arrangements as
attempts to reduce competition.
a. True
b. False
Effective social media marketing requires setting goals and developing strategies to
reach a target audience.
a. True
b. False
What is the term for quantifiable measurements that are compared against
organizational objectives to gauge a company’s overall performance?
a. Big data
b. Competitive intelligence
c. Marketing data
d. Metrics
Paul is the quality-control specialist for a furniture manufacturer. His job is to develop
specifications for every potential purchase of wood and fabric. Within the buying
center, Paul plays the role of a(n):
a. Gatekeeper
b. Decider
c. Influencer
d. Specialist
e. Spec supervisor
Sampling produces a higher response rate compared to other forms of promotions.
a. True
b. False
The financing function of marketing involves:
a. making sufficient quantities of goods available in the marketplace.
b. ensuring products meet established quality and quantity standards.
c. providing funds to buyers for building inventories prior to sales.
d. using advertising, personal selling, and sales promotion to match goods and services
to customers.
Which of the following factors makes United States an attractive market for foreign
companies?
a. High excise duties and revenue tariffs
b. Better profits due to reduced labor costs
c. High levels of discretionary income
d. Restrictions on international direct investment
A _____ accepts orders from customers and forwards these orders to producers, which
then deliver the desired products directly to customers.
a. merchant wholesaler
b. drop shipper
c. rack jobber
d. truck jobber
_____ marketing is the development, growth, and maintenance of cost-effective,
high-value associations with individual customers, suppliers, and other partners over
time.
a. Relationship
b. Transaction-based
c. Substitutive
d. Associative
A national grocery store runs an advertisement offering “buy one get one free” on
packages of Thomas’ English muffins to consumers. This is an example of a trade
promotion.
a. True
b. False