Which of the following is the goal of the team-based new product development
approach when it uses cross-functional teams that overlap the steps in the process?
A) gain a big competitive edge by getting the right new products to market
B) save time and increase effectiveness
C) increase production efficiency and customer satisfaction
D) speed product distribution to market and reduce costs
E) reduce organizational tension and confusion
In conducting ________, the company first identifies the major attributes that
customers value and the importance customers place on these attributes. Next, it
assesses its performance against competitors on those valued attributes.
A) a customer value analysis
B) benchmarking
C) entrepreneurial marketing
D) intrepreneurial marketing
E) a customer lifetime value estimate
In the communication process, the more the sender’s field of experience ________ that
of the receiver, the more ________ the message is likely to be.
A) varies from; distinguishable
B) overlaps with; effective
C) connects with; ineffective
D) coincides with; creative
E) departs from; direct
Which of the following is a problem caused by a policy of the EU?
A) Barriers to the free flow of products, services, finances, and labor decreased.
B) Policies on trade with nonmember nations were developed.
C) Economic powers stepped in to prop up weaker economies.
D) Adopting a common currency decreased currency risk.
E) The EU represents one of the world’s largest single markets.
When amusement parks charge customers for admission and later for food and
beverages, they are following a ________ pricing strategy.
A) by-product
B) product line
C) penetration
D) skimming
E) two-part
________ consumers are the most brand conscious of all the ethnic groups, are
extremely brand loyal, and shop frequently.
A) African American
B) Native American
C) Hispanic American
D) Italian American
E) Asian American
Executives at an automobile manufacturing company conducted a brainstorming
session for selected employees. This session resulted in a large number of ideas for
developing new cars after extensive R&D. The executives then planned to filter out the
best ideas during the ________ stage.
A) business analysis
B) idea generation
C) concept testing
D) idea screening
E) concept development
Designing international channels that take into account the entire global supply chain
and marketing channel, thus forging an effective global value delivery network,
recognizes a company must have a ________.
A) whole-channel view
B) direct-distribution channel
C) large-scale channel
D) transportation network
E) retail channel
The societal marketing concept seeks to establish a balance between ________.
A) customer lifetime value and customer equity
B) an inside-out perspective and an outside-in perspective
C) consumer short-run wants and consumer long-run welfare
D) marketing mixes and market offerings
E) customer-driven marketing and customer-driving marketing
Amanda Perkins is a senior sales manager in Arlington Steelworks. As the customer
base of her company has grown larger and more demanding over the last few years,
Amanda insists on ________, or using groups of people from various departments such
as sales, technical support, engineering, and even upper management to service
complex accounts.
A) cross selling
B) e-procurement
C) team selling
D) observational research
E) vendor screening
Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people
who love to hunt, hike, and ride bikes. The company’s long-term plans include the
development of lenses that, in addition to protecting users from UV rays, would help
reduce lens spotting through effective water-sheeting methods. This new feature would
be valuable to people who fish. Given the rising popularity of recreational fishing in the
United States, Omega products clearly have a huge market potential. In terms of a
SWOT analysis, Omega has recognized a market ________.
A) weakness
B) strength
C) threat
D) opportunity
E) challenge
In a communication process, a receiver assigns meaning to the symbols encoded by a
company in its advertisements through a process known as ________.
A) integrating
B) reciprocating
C) acknowledging
D) decoding
E) coordinating
The Jay Group hires better employees than its competition by conducting effective
searches and multi-tiered interviews. The company also provides high quality training
to its employees, an aspect often neglected by competitors. The Jay Group is most
likely to gain a strong competitive advantage through which type of differentiation?
A) image differentiation
B) people differentiation
C) services differentiation
D) product differentiation
E) channel differentiation
A marketing plan begins with a(n) ________, which presents a brief summary of the
main goals and recommendations of the plan for management review.
A) budget
B) opportunity analysis
C) threat analysis
D) executive summary
E) action program
The BRICS countries are ________.
A) Bolivia, the Republic of Haiti, Israel, and Chile
B) Britain, the Republic of the Marshall Islands, Ireland, and the Commonwealth of
Australia
C) Brazil, Russia, India, China, and South Africa
D) Burundi, Rwanda, Ivory Coast, and Congo
E) Belarus, Romania, Iceland, and Czech Republic
Which of the following methods is used by companies to set their advertising budgets
based on the industry average?
A) percentage-of-sales method
B) affordable method
C) competitive-parity method
D) objective-and-task method
E) regression method
When entering a foreign market, companies typically start with ________, working
through independent intermediaries to sell products produced in the home country.
A) direct exporting
B) embargo
C) product adaptation
D) indirect exporting
E) licensing
HP’s advertising agency assembles words and illustrations into an advertisement that
conveys the company’s intended brand message. In the context of the communication
process, HP is ________.
A) messaging
B) decoding
C) sending
D) encoding
E) responding
Which of the following is true with regard to value-added pricing?
A) Companies that practice value-added pricing typically match the competition by
cutting prices.
B) Companies practicing value-added pricing differentiate their offers by attaching
value-added features to offerings that, in turn, justify higher prices.
C) The intrinsic value of products sold by companies practicing value-added pricing is
far less than their actual selling price.
D) Companies practicing value-added pricing primarily rely on cost differentiation.
E) Value-added pricing is the most suitable pricing strategy in pure monopolies.
Carrie tends to purchase various brands of bath soap. She has never been loyal to a
specific brand; instead she does a lot of brand switching. Carrie exhibits ________.
A) dissonance-reducing buying behavior
B) complex buying behavior
C) habitual buying behavior
D) variety-seeking buying behavior
E) conspicuous consumption behavior
Babita Singh, a 51-year-old schoolteacher from Los Angeles, believes that people
should choose a profession they like, which is an example of Babita’s ________.
A) secondary belief
B) core belief
C) core value
D) work ethic
E) moral code
In which stage of the business buying process does a buyer ask users to rate their
satisfaction with the supplied materials?
A) problem recognition
B) performance review
C) supplier search
D) supplier selection
E) order-routine specification
Advertising campaigns involving issues ranging from health care, education, and
environmental sustainability to human rights and personal safety can be classified under
________ marketing.
A) corporate image
B) internal
C) social
D) place
E) person
The innovation management system approach yields two favorable outcomes: it helps
create an innovation-oriented company culture, and it ________.
A) clearly assigns responsibility for the process to a single department
B) yields a larger number of new product ideas
C) guarantees successful products
D) frees up senior management time
E) requires less budget support
Which of the following is NOT something a company must determine when analyzing
its current business portfolio?
A) which businesses should receive more investment
B) which businesses should receive less investment
C) which businesses should receive no investment
D) which businesses should be sold or closed
E) which businesses shape the future portfolio
Today’s consumers do not need to rely on marketer-supplied information about products
and services because they can use ________ to seek out a wealth of information.
A) push strategies
B) direct and digital marketing
C) the Internet
D) personal selling
E) public relations
The process of arranging for a product to occupy a clear, distinctive, and desirable place
relative to competing products in the minds of target consumers is known as ________.
A) market segmentation
B) differentiation
C) target marketing
D) market targeting
E) positioning
Digital catalogs offer all of the following benefits EXCEPT ________.
A) presenting an almost unlimited amount of merchandise
B) offering a broad assortment of presentation formats, including search and video
C) adding and removing products as needed
D) adjusting prices instantly to meet demand
E) touching the product
Companies emphasizing pollution prevention have responded with ________.
A) superficial green marketing activities
B) internal beyond greening programs
C) external green marketing activities
D) external beyond greening activities
E) internal green marketing programs
You receive a report that 68 percent of your target market has been exposed to your ad
campaign during a given period of time. Which of the following aspects of media
selection is represented by this information?
A) frequency
B) reach
C) impact
D) engagement
E) qualitative value
A movie theater offers a reduced price for an afternoon showing of a film. This type of
pricing is ________ pricing.
A) location-based
B) customer-segmented
C) cost-based
D) product form
E) time-based
With which of the following strategies would a company give only a limited number of
dealers the right to distribute its products in their territories?
A) exclusive distribution
B) extensive distribution
C) moderate distribution
D) primary distribution
E) intensive distribution