Which of the following statements is true of a concentrated targeting strategy?
a. It allows a firm to serve two or more welldefined market segments simultaneously.
b. It is often adopted by small firms to compete effectively with much larger firms.
c. It follows a massmarket philosophy by viewing the market as one big market without
any individual segments.
d. It results in cannibalization of products.
For services that are composed of multiple elements, the issue is whether pricing should
be based on a “bundle” of elements or whether each element should be priced
separately.
a. True
b. False
GE’s instagram account shares behindthescenes looks at their business and employees.
One post about the first female wind technician in Western Canada received over 1,00
likes. With regard to businesstobusiness social media marketing, these efforts by GE is
an example of the __________ marketing metric.
a. product adaptation
b. engagement
c. conversion
d. review
Which of the following is a tool that governments use to exclude companies from
countries with which they have a political dispute?
a. Exchange control
b. Market grouping
c. Boycott
d. Tariff
Which statement aptly describes the characteristics of the middle class in the United
States?
a. They are people who are not regularly employed; depend primarily on the welfare
system for sustenance; and have little schooling.
b. They are people who are middlelevel whitecollar; have education past high school;
and with an income somewhat above national average.
c. They are people who are upperlevel managers; professionals; owners of mediumsized
businesses; and welltodo, stayathome homemakers.
d. They are people who are middlelevel bluecollar, lowerlevel whitecollar; with income
below national average; and are largely working in skilled or semiskilled service jobs.
Mommy bloggers represents women who review children’s products and discuss
familyrelated topics on their personal blogs. Their blogs are categorized as
_________________ blogs.
a. corporate
b. noncorporate
c. professional
d. social
Two types of institutional purchasers exist: one type operates similarly to governments,
in that the purchasing process is influenced, determined, or administered by government
units. The other type of purchasers ____________.
a. are organized more like corporations
b. behave more like producers
c. operate like resellers
d. are organized like retailer firms
Evaluating an advertising campaign is the simplest part of the advertising process
because the factors that determine the effectiveness of an ad are limited and clear.
a. True
b. False
Which of the following refers to everything, both favorable and unfavorable, that a
person receives in an exchange?
a. Product
b. Design
c. Distribution
d. Promotion
Jessica was born in 1994. She spends more time on Facebook than reading magazines.
Despite her preference for spending time online at social networking sites, she does
listen to the radio and read occasionally. Given this information, which of the following
statements is true of Jessica?
a. She does not expect brands to be on social media.
b. She is a younger Millennial.
c. She is one of the first generation of latchkey children.
d. She would have graduated from college during the Great Recession.
When evaluating services in terms of marketing strategies, a(n) _____ quality is a
characteristic that can be assessed only after use.
a. search
b. credence
c. experience
d. intangible
A service mark is the exclusive right to use a brand or part of a brand.
a. True
b. False
In the business of running movie theaters, it was proposed that the tickets be priced
significantly higher than usual for each of the opening weekends of the year’s summer
blockbusters. This kind of pricing is ______.
a. patronageoriented, not revenueoriented
b. operationsoriented, not patronageoriented
c. both revenueoriented and patronageoriented
d. both operationsoriented and patronageoriented
Compared to goods, services tend to exhibit more ______ qualities.
a. experience and credence
b. experience and search
c. search and credence
d. search and inseparability
At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Cloyd’s
Inc. is 300 units, which is the number of bikes they manufacture every year. If the
marketing managers at Cloyd’s Inc. decide to sell each bike at a price lower than $2,000
per unit, _____.
a. a shortage of bikes will be created
b. the number of bikes produced will increase drastically
c. an inelastic demand for the bikes will be created
d. the demand for and the supply of the bikes will attain equilibrium
Alicia wants to buy a piece of furniture and would like to transport it using her personal
vehicle. Therefore, she prefers having delivery charges bundled with the price of the
furniture.
a. True
b. False
Which statement is true of the outcome of crowdsourcing when using social media in
marketing?
a. The input of many people (rather than of a few experts) is leveraged to make
decisions.
b. The level of buzz created for a product rightly reflects the product’s effectiveness.
c. The criteria used for choosing the most suitable method of promoting a product is
now an exact science.
d. The factors that lead consumers to buy a product are beyond the tools of social media
analytics to identify and quantify.
Membership services naturally lend themselves to relationship marketing.
a. True
b. False
Which of the following refers to the development and marketing of
environmentfriendly products designed to minimize negative effects on the physical
environment?
a. Green marketing
b. Relationship marketing
c. Economic sustainability marketing
d. Causerelated marketing
Which of the following correctly defines balance of payments?
a. The difference between the value of a country’s exports and the value of its imports
over a given period
b. The difference between a country’s total payments to other countries and its total
receipts from other countries
c. Total market value of all final goods and services produced in a country for a given
time period
d. Total income estimated from returning production jobs to the United States
In customer relationship management, the use of big data analytics is limited to the
collection of customer data.
a. True
b. False
Which statement is true of natural resources in terms of global trade or a country’s
economy?
a. The past decade has witnessed the discovery of an abundance of natural resources.
b. Petroleum is the only natural resource that affects international marketing.
c. Vast differences in natural resources result in minor shifts of wealth among countries.
d. Steep declines in the price of oil had a negative impact on America’s oil producers.
Berkley’s Nooks are a selfservice chain of service stations with stores that are located
near residential areas. They are open long hours and offer fast service in exchange for
charging premium prices. Their customers are beginning to demand more from them,
such as higher quality food and lower prices on staple items such as gasoline and milk.
Which type of retailers are Berkley’s Nooks?
a. Supermarket
b. Convenience store
c. Superstore
d. Specialty store
Which of the following is widely believed to be true of the audio and visual factors
creating a store’s atmosphere?
a. Red is used to open up closedin places and create an air of elegance and cleanliness.
b. Natural lighting, either from windows or skylights, can lead to increased sales.
c. Music played in a store cannot influence store traffic or the shopper’s focus of
attention.
d. The type of music played cannot influence a customer’s choice of product.
Personal selling is more important than advertising and sales promotion if the products
being sold
a. are standardized.
b. have many consumers.
c. have a low value.
d. are technically complex.
___________ is a price tactic that tries to get consumers into a store through false or
misleading price advertising and then uses highpressure selling to persuade consumers
to buy more expensive merchandise.
a. Bait pricing
b. Price bundling
c. Oddeven pricing
d. Leader pricing
Which of the following is true of a firm that acts as a consumer marketer?
a. It can also be a business marketer.
b. It has fewer customers than a business marketer.
c. It excludes the sale of goods that are sold in business markets.
d. Its customers are less geographically concentrated than business markets.
Which of the following specifies which research questions must be answered, how and
when the data will be gathered, and how the data will be analyzed?
a. Research design
b. Marketing research objective
c. Management research objective
d. Primary data
When income is high in comparison to the cost of living, people have more
discretionary income.
a. True
b. False
Businesses contract outside providers to perform janitorial, advertising, and legal
services when it costs less than hiring an employee to perform those particular tasks.
a. True
b. False