Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Which statement is true of traditional selling?
a. It allows ample time for a detailed followup with customers after a sale.
b. It results in more win–win transactions for salespeople than relationship selling.
c. Minimal effort is placed on asking questions to identify customer needs.
d. High emphasis is placed on matching customers' needs and wants to the benefits of
the product.
Serious or emotional advertisements are largely used to change consumers’ deeply
rooted values and attitudes.
a. True
b. False
The strategy of improving relationships with existing customers, which is based on the
assumption that most customers prefer to maintain an ongoing relationship with one
organization rather than switch continually among providers in their search for value, is
defined as ______.
a. customer value
b. relationship marketing
c. teamwork
d. empowerment
Which of the following statements is true of product lines?
a. They limit the product choices offered to customers to one or two product items.
b. They provide economies of scale in advertising.
c. They require greater transportation and warehousing costs than product items.
d. They increase a firm’s manufacturing and inventory costs.
Which of the following is true of establishing pricing goals?
a. Pricing objectives are either profit oriented or sales oriented if they are to serve
company objectives.
b. Reaching the desired market share must not entail sacrificing shortterm profits
because every dollar counts.
c. A profit maximization objective may require a bigger initial investment than the firm
can commit to or wants to commit to.
d. Pricing objectives rarely have tradeoffs and thus managers must set them ambitiously
to capture the market.
Which of the following statements is true of channel members?
a. They provide contact efficiency.
b. Agents and brokers take ownership of goods.
c. They provide generalization of labor.
d. Merchant wholesalers create form utility.
The more identical digits in the sequence of a North American Industry Classification
System code among companies, the less homogeneous that group of companies’ main
manufacturing processes are.
a. True
b. False
The population group that falls between ages 9to 12 and presents great opportunity to
American marketers with a huge spending power is known as:
a. Generation X.
b. teens.
c. Generation Y.
d. tweens.
_____________ is a method of gathering primary data in which the researcher alters
one or more variables while observing the effects of those alterations on another
variable.
a. An experiment
b. A sample
c. A survey
d. Research
Greenwashing is the term used to describe industrial processes that cause pollution
above the permissible limit set by the government.
a. True
b. False
According to the gap model of service quality, the gap between what management
thinks customers want and the quality specifications that management develops to
provide the service results from
a. the inability of management and employees to do what should be done.
b. a lack of understanding or a misrepresentation of the customers’ needs, wants, or
desires.
c. misleading or deceptive advertising campaigns promising more than the firm can
deliver.
d. the inability of management to translate customers' needs into delivery systems
within the firm.
Which of the following statements is true of the marketing concept?
a. It states that an organization should satisfy customer wants and needs while meeting
organizational objectives.
b. It overlooks the importance of understanding the competitive arena and competitors’
strengths and weaknesses.
c. It states that firms should give maximum importance to aggressive promotional and
advertising activities.
d. It states that marketing solely means selling things and collecting money.
Suggestion selling by sales or service associates should always help shoppers recognize
true needs rather than sell them unwanted merchandise.
a. True
b. False
Delta Graphics Inc. specializes in publishing educational books. It recruits and trains
college students to sell its products doortodoor. Which of the following forms of
nonstore retailing is illustrated in this scenario?
a. Direct retailing
b. Telemarketing
c. Automatic vending
d. Etailing
Which of the following refers to a pricing objective that maintains existing prices or
meets the competition’s prices?
a. Sales maximization
b. Status quo pricing
c. Satisfactory pricing
d. Pricing based on perceived satisfaction
Baby Boomers typically are to be influenced by information gained through social
media.
a. True
b. False
Which of the following firms is most likely to realize a competitive advantage through
product/service differentiation?
a. A firm that sells its products at lower costs than its competitors
b. A firm that inhibits postsale customer service relations
c. A firm that provides highly reliable products
d. A firm that solely relies on promotional strategies to increase its sales
Which of the following is true of advertising?
a. It is of less value for new entrants in the market.
b. It ensures constant sales and market share improvements.
c. It influences attitudes, beliefs, and ultimately, consumers’ purchases.
d. It can change consumers’ deeply rooted values and attitudes.
Milan, a marketing manager of a pharmaceutical company, opens dialogues with
stakeholders by giving them compelling content across a variety of media. Which social
media objective does his actions illustrate?
a. Listen and learn
b. Build relationships and awareness
c. Promote products and services
d. Manage your reputation
The process by which we select, organize, and interpret stimuli into a meaningful and
coherent picture is called learning.
a. True
b. False
Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless
speaker system that runs on solar power. The speakers can operate for 16 hours after
being exposed to the sun for 2 hours. This product, which is radically different from
anything available in the market, falls into which category of new products?
a. Repositioned products
b. Revised products
c. Discontinuous innovations
d. New and improved products
One of the functions of universal product codes (UPCs) is to:
a. allow products to be modified for improved sales.
b. help customers resell products that have no market value.
c. increase customer loyalty and brand value of a product.
d. help retailers track and record customer purchases.
Segmentation descriptors identify the specific segmentation variables to use in
segmenting a market.
a. True
b. False
The process of identifying and assessing what is being said about a company,
individual, product, or brand is called ___________.
a. crowdsourcing
b. social media monitoring
c. sales promotion
d. advertising campaign
_____ involves dividing a market into groups such as newborns, infants, young
children, tweens, Millennials, Generation X, Baby Boomers, and seniors.
a. Ethnic segmentation
b. Family life cycle segmentation
c. Age segmentation
d. Psychographic segmentation
_____________ is information that is collected for the first time; used for solving the
particular problem under investigation.
a. Primary data
b. Secondary data
c. Big data
d. Marketing data
Which of the following is involved in defining the sales goals of the salesforce?
a. Assigning quotas to salespeople
b. Evaluating the effectiveness of a sales representative
c. Training new salespeople
d. Designing the sales force structure
L&T, an international manufacturer of electrical and electronic products and systems,
also manufactures customengineered switchboards for industrial sectors such as power,
refineries, petrochemicals, and cement. In the electronic segment, L&T offers a range of
meters and provides control and automation systems for industries. The company
manufactures __________ and markets exclusively to _________.
a. business products, business customers
b. industrial products, final consumers
c. consumer products, businesses
d. consumer products, business customers
Firms use competitive or brand advertising when a product enters the _____ of the
product life cycle and other companies begin to enter the marketplace.
a. introductory phase
b. growth phase
c. formative phase
d. decline phase
Which of the following statements is true of supply chain–oriented firms?
a. They lack the support of top managers.
b. They are willing to accept longterm risks on behalf of others.
c. They work against their partners when seeking to achieve goals.
d. They are financially better off in the long run than companies that are not.
Threedimensional printing (3DP) is also referred to as ______ manufacturing.
a. flexible
b. postponed
c. offshore
d. additive
A U.S. licensor will be most successful at maintaining effective control over licensees
and preventing them from voiding the contract by:
a. using lawyers from both countries to write the licensing agreement.
b. insisting that all licensees have a published code of ethics.
c. receiving all the revenue earned by the licensees.
d. locally registering patents and trademarks.
_____ is an example of routine response behavior.
a. Booking a cruise vacation
b. Buying an $800 personal computer
c. Buying an air conditioner for the first time
d. Purchasing groceries
Gen Xers tend to be frugal and seek value when making purchases.
a. True
b. False
Gwenta Corp., a soft drink manufacturing company, pays a certain quarterly amount to
its distributors who display the soft drink’s latest ad on their distribution trucks. This
quarterly payment is referred to as a noncumulative quantity discount.
a. True
b. False
Define what is meant by consumer penalties and provide reasons why companies would
impose them on consumers.
What is a mission statement, and how should a firm define its business mission? Give
examples to illustrate the components of a good mission statement.
What is brand cannibalization? Why is it dangerous to the retailer in terms of sales,
inventory, and promotion?
Briefly explain the impact of technology on personal selling.
Explain the significance of market share as a salesoriented pricing objective.
Discuss the importance of customer service in business marketing.
Discuss product strategies and pricing strategies in the context of the marketing mix.
Describe the growth stage of the product life cycle.
Briefly explain what service firms must do to be successful in the global marketplace.
Discuss the four stages in which multinational corporations develop their global
businesses.
Explain what is meant by media planning and how the advertisers decide which
medium to choose to best communicate their advertising objective. Discuss the
importance of media planning in advertising.
Discuss the factors that make marketing objectives effective.
Define price and discuss the role of price in the evaluation of product alternatives.
When making decisions about product offerings for their marketing mix, what are the
three productrelated distinctions between business and nonprofit organizations?
What is competitive intelligence (CI)? Discuss how it helps managers and how it is
used.
Briefly explain the emerging distribution channel structures and include examples of
each.
What do marketing managers learn about communicating with and targeting the
potential customers from understanding the innovation diffusion process?
