People’s moods and behaviors are strongly influenced by their physical surrounding.
Two dimensions, ________, determine whether a shopper will react positively or
negatively to a store environment.
A) color and size
B) size and activity
C) arousal and pleasure
D) perceived risk and level of involvement
E) motivation and self-concept
________ segmentation variables classify consumers on the basis of how they act
toward, feel about, or use a product.
A) Demographic
B) Behavioral
C) Geodemographic
D) Socioeconomic
E) Psychographic
It is most accurate to say that total quality management firms believe that it is the
responsibility of ________ employees to serve the needs of customers.
A) marketing
B) research and development
C) human resource
D) management
E) all
Interpreted data is ________.
A) primary data
B) secondary data
C) exploratory research
D) descriptive research
E) information
Which of the following controls package communications and labeling in the United
States?
A) the Food and Drug Administration (FDA)
B) the Nutrition Labeling and Education Act
C) the Nutrition Facts Panel
D) the Federal Fair Packaging and Labeling Act
E) the Consumer Bill of Rights
The vehicle jack and other hand tools carried by a truck driver in case of a flat tire are
examples of which type of business product?
A) repair products
B) operating supplies
C) maintenance products
D) light equipment
E) component parts
Of the following generations, which has the youngest members?
A) Baby Boomers
B) Echo Boomers
C) Generation X
D) Generation Y
E) Generation Z
________ is a problem-solving process for getting an advertising message to a specific
target audience in the most effective fashion.
A) Pretesting
B) Lobbying
C) Authenticated streaming
D) Media planning
E) Sampling
A family brand strategy is also called a(n) ________ strategy.
A) cobranding
B) licensing
C) umbrella brand
D) store brand
E) national brand
SBU stands for ________.
A) strategic buying utilities
B) successful business utilities
C) strategic business units
D) standard business units
E) successful business units
Marketers use the metric of ________ to inform how they price a particular product or
service.
A) click-through rate
B) conversion rate
C) margin on sales
D) sentiment analysis
E) churn rate
Of the following, which type of data collection method is likely to have the lowest
response rate?
A) mail questionnaire
B) focus group
C) online focus group
D) case study
E) face-to-face interview
Mercedes was able to successfully introduce its C-Class car at $30,000 without injuring
its ability to sell other Mercedes cars for $100,000 or more. Mercedes implemented a(n)
________.
A) downward line stretch
B) product line contraction
C) cannibalization strategy
D) upward line stretch
E) value stretch
A ________ identifies the degree of effort required of the firm’s personnel to collect
information and make a purchase decision.
A) needs hierarchy
B) purchase continuum
C) buy class framework
D) determinant attribute
E) compensatory decision rule
The trend of consumers renting out their belongings when they are not in use to other
consumers who need them for a limited time is called ________.
A) e-commerce
B) virtual exchange of goods
C) the attention economy
D) collaborative consumption
E) user-generated content
Which of the following is NOT typically part of a firm’s action plan?
A) a time line
B) clearly assigned responsibilities
C) pricing strategies
D) a budget
E) measurement and control processes
The second step in strategic planning is to ________.
A) formalize a mission statement
B) establish the business portfolio
C) set SBU and department-level objectives
D) set organizational objectives
E) assess the organization’s internal and external environments
The elements of the marketing mix must match the ________.
A) competitive advantage
B) perceptual map
C) selected segment
D) indirect competition
E) direct competition
A building supply company has many high-volume customers and many low-volume
customers. A CRM system would be LEAST likely to help management decide to use
which of the following methods for communicating with low-volume customers?
A) Every November, send each customer a new calendar that has the phone number of
the building supply company printed on the cover.
B) Once or twice a year, mail a new product catalog to each customer.
C) Every few months, have a customer service representative from the building supply
company call each customer.
D) Have a sales representative make a personal one-on-one appointment with every
low-volume customer at least twice a month.
E) Give each low-volume customer the company Web address to check building supply
products sold by the company.
Easy Spirit uses ads featuring a country music singer with the hope that her fans will
see her wearing Easy Spirit shoes and want to wear the same shoes she wears. Easy
Spirit is hoping the singer’s fans view her as a ________.
A) steward
B) status symbol
C) heuristic
D) reference group
E) microculture
It is most accurate to say that channels of distribution provide which of the following?
A) time, place, and possession utility
B) promotion, product, and place utility
C) time, place, and form utility
D) promotion and form utility
E) time and promotion utility
Which of the following is true about general merchandise discount stores?
A) They typically have deep and narrow assortments.
B) They typically have shallow and narrow assortments.
C) They do not use price differentiation.
D) They appeal to consumers who want easy access to a lot of merchandise.
E) They are typically full-service retailers.
When large companies undertake new-product development, they typically enlist
specialists in different areas to create a ________ within the organization.
A) focus group
B) product category team
C) sales team
D) venture team
E) cross-functional brand team
________ are statistics that measure aspects of population, such as size, age, and
gender.
A) Demographics
B) Norms
C) Cultural dimensions
D) Standards
E) Mores
To successfully market the Corvette to the European market, General Motors had to
make the automobile shorter and narrower. GM chose to use a ________ strategy with
the Corvette.
A) product adaptation
B) standardization
C) straight extension
D) product invention
E) backward invention
Toward the end of the fiscal year, the owner of a small company came back from lunch
concerned because he had learned that a business targeting his same customer base was
planning on spending $150,000 on promotion. As soon as he arrived at the office, he
called his financial manager and said, “I want to budget $150,000 for next year’s
promotion.” Which method of promotional budgeting did the owner want to use?
A) the objective-task method
B) the percentage-of-sales method
C) the competitive-parity method
D) the bottom-up method
E) the pull-push method
A number of top fashion-modeling agencies were charged with ________ because they
were jointly determining what commissions they would charge for models.
A) prestige pricing
B) horizontal price lining
C) vertical price lining
D) vertical price-fixing
E) horizontal price-fixing
________ occurs when two or more goods are necessary to create a product.
A) Inelastic demand
B) Fluctuating demand
C) Joint demand
D) Elastic demand
E) Economic demand
Marketers use the metric of ________ to understand where web traffic is coming from
and which marketing investments are generating enough interest in users to get them to
follow a link to a product webpage.
A) click-through rate
B) conversion rate
C) churn rate
D) sentiment analysis
E) cost-per-impression
Which of the following is a measure of customers’ sensitivity to changes in price?
A) liquidity ratio
B) break-even point
C) price elasticity of demand
D) marginal analysis
E) basing-point
Firms that have a triple-bottom-line orientation measure success by their financial
successes, how they contribute to their communities, and how they ________.
A) develop new business
B) create sustainable business practices
C) interact with customers
D) maintain relationships with channel partners
E) expand into overseas markets
Market planning is a type of ________.
A) day-to-day planning
B) financial planning
C) strategic planning
D) independent planning
E) functional planning
The second step in developing a competitive advantage is to turn a distinctive
competency into a ________ that is important to customers.
A) target market
B) service
C) marketing mix
D) market position
E) differential benefit
A company that uses a(n) ________ targeting strategy is appealing to a broad spectrum
of people.
A) fragmented
B) undifferentiated
C) concentrated
D) differentiated
E) customized
Data that have been collected for some other purpose than to answer the question at
hand are called ________.
A) primary data
B) secondary data
C) mined data
D) experimental data
E) ethnographic data